Finance committee debates five-year capital plan and $5,000 capitalization threshold
Resource and community development staff rolled out a five-year capital-planning worksheet and the committee debated capitalization policy, including whether the accounting threshold should be $5,000 (as auditors suggested) or a higher practical minimum for capital projects. Members asked staff to return recommendations in August with examples from other counties.
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Amy Oliver, resource and community development, introduced a new five-year capital-planning worksheet asking departments to list major purchases and projects for the next five years and to rank priorities for the coming year. "We're asking our departments to fill this out with any major capital purchases or projects for the next 5 years but ranking only for next year," Amy said, explaining the goal is to consolidate borrowing and time issuances to reduce overall debt costs.
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