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Harney County Court adopts fixed asset and capitalization policy
Summary
The county court approved a fixed asset and capitalization policy Feb. 19 that sets a $5,000 insurance threshold and requires tracking of mobile items such as computers, while excluding computers from capitalization per the court's earlier direction.
Harney County Court approved a fixed asset and capitalization policy at its Feb. 19 meeting. The policy formalizes tracking and capitalization rules for county assets and standardizes the county's capitalization thresholds for accounting and insurance purposes.
Key points: The court adopted a $5,000 insurance threshold for coverage and directed that mobile, high‑risk items such as computers be tracked in the fixed asset system even if they are not capitalized for accounting purposes. The policy text included a county request that computers be tracked but not capitalized, to account for their mobility and replacement risk.
Why it matters: County officials said the policy helps preserve assets and streamline grant and vendor requirements. Treasurer Heaney and staff noted many grants require a copy of a jurisdiction's financial policy. Commissioners also discussed whether different deductible thresholds might be cost‑effective for certain asset classes and asked staff to consult the county insurer about options.
Outcome: A motion to approve the Harney County fixed asset and capitalization policy was made, seconded and carried. The county asked staff to finalize signatures and implement tracking procedures for IT equipment and other designated items.
Implementation: County staff will circulate the signed policy and begin implementing the inventory and tracking steps referenced in the policy. The court noted it will review insurance deductible options with the county insurer as part of future risk management work.
