Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Policy 681.1 Capitalization topic
No spam. Unsubscribe anytime.
Committee backs raising asset capitalization threshold to $10,000
Summary
The committee recommended updating Policy 681.1 to increase the district's capitalization threshold from $2,500 to $10,000 to match federal requirements; Johnson and Block auditors supported the change.
The policy committee recommended changing Policy 681.1 (Capitalization and Depreciation) to increase the district's capitalization threshold from the current $2,500 to $10,000 to conform with federal requirements. The committee said its financial auditors, Johnson and Block, support the recommendation and that the change aligns district accounting with federal guidance.
Committee members voted 3–0 to refer the proposed change to the full board for a first reading after the committee drafts specific language. The minutes note this recommendation followed the WASB quick check and DPI administrative review that highlighted the need for compliance with federal standards.
