Staff explains capitalization and procurement threshold changes to trustees
Summary
Bonham ISD staff explained TASB and federal changes to capitalization and procurement thresholds, noting the district currently uses a $5,000 local capitalization threshold while federal micro-purchase and simplified acquisition thresholds were described as $15,000 and $350,000 respectively.
District staff (S4) reviewed accounting and procurement updates in the TASB packet, telling trustees the district still uses a $5,000 local capitalization threshold even though TASB's packet referenced a $10,000 threshold. S4 gave an example, saying, "So for instance, a bus is over $10,000," to illustrate capital-asset treatment.
Staff also described federal procurement thresholds: the micro-purchase threshold was discussed as $15,000 and the simplified acquisition threshold was stated later in the meeting as $350,000. Trustees asked how the federal figures intersect with state/local caps; S4 explained local procurement rules and noted the district's state cap for formal procurement sits at $100,000.
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