Board reviews capitalization and federal procurement threshold changes
Trustees and staff discussed TASB's updated capitalization threshold (district uses $5,000 while TASB's template cites $10,000) and federal procurement thresholds, including the micro-purchase level at $15,000 and questions about the simplified acquisition amount and local caps.
The full story
Staff and trustees reviewed recent threshold changes affecting asset reporting and procurement. A staff member (S4) explained the district currently uses a $5,000 capitalization threshold for capital asset listing while TASB's update referenced a $10,000 threshold; the distinction affects which items are reported as capital assets.
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