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Northside ISD board adopts higher capitalization threshold for district assets
Summary
On June 10 the Northside ISD Board of Trustees approved a revision to board policy CFB (local) that raises the district's capitalization threshold from $5,000 to $10,000; the change was moved and seconded during the meeting and the motion passed.
The Northside ISD Board of Trustees voted June 10 to adopt a revision to board policy CFB (local) raising the district's capitalization threshold for asset accounting from $5,000 to $10,000.
The change to the district's accounting and inventory policy was presented to the board as a reading that had already been reviewed by the policy committee; staff recommended placing it on the consent agenda for the next regular meeting but the board called the item for action at the called meeting and approved it. Trustee Vaught moved approval; Trustee Freeman seconded; the board chair called for aye votes and recorded no opposition.
The adopted change affects how the district classifies and capitalizes tangible assets for accounting and inventory purposes. Staff described the revision as an increase in the aggregate capitalization threshold to $10,000; the item was described in the meeting as a technical accounting change that had been through the policy committee.
No additional details about implementation steps, effective date, or changes to inventory procedures were announced during the meeting.
