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City shall describe such amendment in the next annual report, and shall include, a narrative <br /> explanation of the reason for the amendment and its impact on the type (or in the case of a <br /> change of accounting principles, on the presentation) of financial information or operating data <br /> being presented by the City. In addition, if the amendment relates to the accounting principles to <br /> be followed in preparing financial statements, (A) notice of such change shall be given in the <br /> same manner as for a material event, and (B)the annual report for the year in which the change <br /> is made shall present a comparison(in narrative form and also, if feasible, in quantitative form) <br /> between the financial statements as prepared on the basis of the new accounting principles and <br /> those prepared on the basis of the former accounting principles. <br /> CITY OF EVERETT, WASHINGTO ' <br /> - -I. o... A <br /> V4 <br /> -.• <br /> Debra Bryant, Chief ; •ministrative <br /> Assistant-Chief F *a1 Officer <br /> -3- P:120287 CMW20287 sus 03/09/11 <br />