Regular Fire Board Meeting - November 29, 2023

GANADO FIRE DISTRICT

P.O. BOX 718

GANADO, ARIZONA 86505

(928) 755-3424 FAX: (928) 755-6330

ESTABLISHED 1982

RESOLUTION OF GANADO FIRE DISTRICT BOARD OF DIRECTORS RESOLUTION No. GFD 2024-001

ADOPTION OF ACCOUNTING POLICY OF GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB) 87: LIMITATION FOR INCLUSION UNDER THE LEASE STANDARDS

DULY PASSED ON NOVEMBER 29, 2023

WHEREAS,

1. The Ganado Fire District is a political subdivision of the state of Arizona, formed for the protection of persons and property in an area approved by Apache County, and; 2. The Ganado Fire District is an independent government and is governed under the oversight of its board of directors elected at large by the citizens of the district, and; 3. The Ganado Fire District can construct, purchase, lease, lease-purchase or otherwise acquire the following or any interest in the following and, in connection with the construction or other acquisition, purchase, lease, lease-purchase or grant a lien on any or all its present or future property, including (according to A.R.S. §48-805(B)(2)): a. Apparatus, water and rescue equipment, including ambulances and equipment related to any of the foregoing. b. Land, buildings, equipment and furnishings to house equipment and personnel necessary or appropriate to carry out its purposes. 4. The Ganado Fire District understands it can follow the implementation requirements of GASB Pronouncement 87.

NOW, THEREFORE BE IT RESLOVED THAT,

The Ganado Fire District hereby resolves to implement the following accounting policy regarding GASB (Governmental Accounting Standards Board) Pronouncement 87.

FURTHER, BE IT RESOLVED,

The Ganado Fire District resolves the limitation for inclusion under the lease standards of GASB 87 will be leases in excess of $20,000.00.

RESOLUTION No. GFD 2024-001 Page 1 of 2