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Morgan ISD raises capitalization threshold in local policy CFB to $10,000
Summary
Trustees approved an amendment to Local Policy CFB to change the capitalization threshold for individual capital assets from $5,000 to $10,000. The motion was moved by Jimmy Johns and seconded by Bryant Clark and passed by a recorded 5-0-0 vote.
The Morgan Independent School District Board voted to amend Local Policy CFB (Accounting: Inventories) to raise the districtcapitalization threshold for classifying individual capital assets from $5,000 to $10,000. The change was presented as an action item and approved on a recorded vote.
Trustee Jimmy Johns moved the amendment and Trustee Bryant Clark seconded; the motion passed on a recorded 5-0-0 vote. The minutes list the motion under "Discussion and Possible Approval of Amendment of Local Policy CFB Accounting: Inventories" and specify the threshold change from $5,000 to $10,000.
