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Montevallo council raises capitalization threshold to $5,000 to reduce accounting burden
Summary
The Montevallo City Council on Feb. 9 adopted Resolution 02092026-134 to increase the city's capitalization threshold from $250 to $5,000, a change recommended by the city's auditors to reduce administrative tracking of low-value assets.
The Montevallo City Council unanimously adopted a resolution on Feb. 9 that raises the city's capitalization threshold for capital assets from $250 to $5,000.
The council passed RESOLUTION 02092026-134 on a motion by Council Member Lelia Mitchell, seconded by Council Member Kenneth Dukes; the vote was recorded as all ayes. The resolution amends the city's fiscal and accounting policies to set the new…
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