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Kemp ISD updates Policy CFB Local, sets capitalization threshold at $10,000
Summary
Trustees voted unanimously to update Policy CFB Local, establishing a $10,000 capitalization threshold for classifying individual capital assets. The motion was made by Vice President Matthew Gross and seconded by Trustee Linda Hale.
The Kemp ISD Board of Trustees approved an update to Policy CFB Local that sets the capitalization threshold for classifying individual capital assets at $10,000. Vice President Matthew Gross moved the change; Trustee Linda Hale seconded and the motion passed unanimously.
The change was recorded as agenda item 7.C. The minutes record the new threshold amount ($10,000) in the body of the agenda item; the board did not attach additional fiscal analysis in the meeting minutes.
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