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Board raises capitalization threshold in local accounting policy to $10,000
Summary
Trustees approved an update to local policy CFB(LOCAL) to increase the capitalization threshold for individual capital assets from $5,000 to $10,000, aligning with the federal threshold; the motion passed 6-0.
Trustee Sheri Braun moved to approve a policy update to CFB(LOCAL) Accounting: Inventories: Capitalization Threshold, increasing the per-item capitalization threshold from $5,000 to $10,000 to match the federal threshold. Trustee Tammie Hunt seconded the motion and it passed 6-0 on July 21.
The change adjusts how the district classifies individual capital assets for accounting purposes; the meeting record does not include examples of items affected or the projected fiscal impact in dollar terms.
