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Commission raises capital asset threshold to $10,000 and controller approval limit to $5,000
Summary
The Board of Commissioners amended county financial policy to increase the capital asset capitalization threshold from $5,000 to $10,000 and raised the county controller's short‑term purchase approval limit from $2,000 to $5,000, citing administrative efficiency and GFOA guidance.
The Lapeer County Board of Commissioners on Jan. 23 amended its financial policies to increase the county’s fixed‑asset capitalization threshold from $5,000 to $10,000 and to raise the county controller’s discretionary purchase approval limit from $2,000 to $5,000.
County Controller (name not specified in the record) told the board that tracking many small items created administrative burden; examples…
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