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Finance proposes Workday‑related changes to county asset policy and higher equipment threshold
Summary
Finance staff proposed amending the county capital asset policy to incorporate GASB 96 requirements for subscription‑based IT agreements and to raise the equipment capitalization threshold to $10,000, matching several federal standards.
Dan Grady and colleagues in the finance department told supervisors the county's move to Workday will require revisions to the capital asset and capitalization threshold policy. "GASB standard 96, which is subscription‑based IT agreements, ... now with our Workday agreement, we do" meet the criteria that require accounting for those subscriptions, Dan said.
Grady proposed two primary changes: add GASB 96 (cloud/subscription IT accounting) to the policy and raise the equipment capitalization threshold from the county's prior lower limit to $10,000 in line with many federal agencies. Staff suggested grandfathering existing items under the old threshold and capitalizing new equipment purchases only if they meet or exceed $10,000.
Supervisors asked staff to solicit brief feedback from department heads and return with any suggested edits; finance said additional policy changes driven by Workday would follow.
