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Board approves policy change to raise capital‑asset threshold to $10,000 under GASB guidance
Summary
Trustees approved a revision to district policy (CFB local) to raise the capital‑outlay capitalization threshold from $5,000 to $10,000, following a Governmental Accounting Standards Board update; staff said the change reduces accounting burden but does not alter asset totals.
The Magnolia ISD Board of Trustees approved a revision to local policy CFB that raises the district’s capital‑asset capitalization threshold from $5,000 to $10,000 following an update the district said the Governmental Accounting Standards Board (GASB) has allowed. The board adopted the change by voice vote after a motion by Trustee Dasha Owens and a second by Trustee David (last name not specified).
Doctor Morris, presenting the…
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