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Board hears first reading on capitalization threshold policy for leases and subscription-based IT arrangements
Summary
The board received a first reading of a new policy (recommended by WASCA) establishing a capitalization threshold for leases and subscription-based information-technology arrangements to standardize accounting under GASB guidance; discussion focused on copiers and whether to aggregate leases across the district.
District staff presented a first reading of a proposed policy establishing a capitalization threshold for leases and subscription-based information-technology arrangements, a change prompted by Governmental Accounting Standards Board (GASB) reporting requirements and a recommendation from the Washington State School Directors’ Association (WSSDA/WASCA).
A district staff member described the proposal as an encouraged but not required policy that provides a…
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