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White Oak ISD board raises capitalization threshold to $10,000
Summary
At its July 13 meeting the White Oak ISD Board of Trustees approved raising the district's local capitalization threshold from $5,000 to $10,000 following a motion by Trustee Stephanie McKinney; the vote was 6-0 with one absence.
The White Oak Independent School District Board of Trustees voted July 13 to raise the district's local capitalization threshold from $5,000 to $10,000.
"I make a motion to change the local Capitalization Threshold policy from $5,000 to $10,000," Trustee Stephanie McKinney moved; Trustee Donna Stagner seconded the motion, which passed unanimously among trustees present (Yea: 6, Nay: 0; Absent: 1). The policy change follows a note in the agenda that the recommendation is tied to the Texas Education Agency's update to GASB 104.
The change affects the district's accounting threshold for capital assets; board members did not record additional implementation details or an effective date in the portion of the record provided. The board recorded the roll call showing Ricky Bodovsky, Jessica Hughes, Stephanie McKinney, Lance Noll, Donna Stagner and David Trest as present and Dr. David Ummel absent.
