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Pembroke Park raises fixed-asset threshold to $5,000 to reduce audit burden
Summary
The commission approved Resolution 2026010 to set a $5,000 capitalization threshold for fixed-asset accounting, a change finance officials said will align the town with GASB/accounting practice and reduce audit findings; debate noted recent finance problems and a prior $950,000 exposure.
The Town of Pembroke Park on Feb. 18 voted to adopt a fixed-asset management standard operating procedure that raises the capitalization threshold from $250 to $5,000.
The finance director recommended the change to reduce administrative burden and better align the town with generally accepted accounting principals and GASB practice. "I recommend that the town refresh its fixed assets…
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