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Selectboard adopts asset capitalization policy aligned with GASB guidance
Summary
The Windsor Selectboard adopted a formal Asset Capitalization Policy to align town accounting practices with Government Accounting Standards Board (GASB) guidance. The policy was presented by Town Manager T. Marsh and approved by unanimous roll-call vote.
Town Manager T. Marsh presented a proposed Asset Capitalization Policy intended to codify how the town records and treats capital assets in accordance with Government Accounting Standards Board guidance. The board voted to adopt the policy after a motion by M. McNaughton and a second from E. Caffrey.
T. Marsh said the policy reflects work by staff to document practices the town has been following and to ensure consistency with GASB. The motion to adopt passed on a roll-call vote with all present voting in favor. The board did not request further amendments and moved on to subsequent agenda items.
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