Committee considers raising capitalization threshold and formal inventory tracking

Director-level staff presented a draft resolution to update the city's capitalization policy, noting the ordinance language is decades old and records differ (an older resolution cites $1,000). The draft proposes raising the capitalization threshold to $10,000 so routine purchases would be expensed rather than capitalized, and adding an inventory requirement for items valued between $1,000 and under $10,000 for departmental tracking.