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Township raises capital‑asset threshold to $10,000 in procedural accounting change
Summary
Board adopted Resolution 2026‑29 to update the capital asset policy, raising the capitalization threshold from $2,500 to $10,000 to simplify bookkeeping; staff said the change does not alter budget or tax impact and will change how depreciation is recorded.
Township staff and auditors presented a recommended update to the capital asset policy that increases the capitalization threshold from $2,500 to $10,000. Staff explained the change is an accounting and procedural cleanup to reduce the number of small, tracked assets (pens, small equipment) while still accounting for maintenance and depreciation. "It's simply a procedural item where we're cleaning up our books," one staff member said.
Board members confirmed the policy has no direct tax impact and will not remove budgetary oversight; staff said smaller items will continue to be tracked through expense accounts and depreciation schedules will be adjusted accordingly. The board adopted Resolution 2026‑29 by voice vote.
