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Pewitt CISD board raises capital asset threshold and extends allowable investment maturities
Summary
Trustees approved updates to Policy CFB (increasing the capital-asset classification threshold from $5,000 to $10,000) and Policy CDA (allow investments up to three years). Motions were recorded; vote tallies were not provided in the minutes.
At the Nov. 18 meeting, the Pewitt CISD Board of Trustees approved two policy changes affecting district finance and investments. The board voted to update Policy CFB (Local) to raise the classification threshold for individual capital assets from $5,000 to $10,000; Trustee Seth Hodges moved and Trustee Justin Green seconded that motion.
Trustees also approved changes to Policy CDA (Local) to permit investments with maturities of up to three years; Trustee Seth Hodges moved and Trustee Justin Green seconded that motion as well. The minutes record the motions and seconders but do not include vote tallies or the text of the amended policies within the published minutes. Administrators will be responsible for implementing the policy changes in district accounting and investment practice.
