Capital Asset Policy
Board Approved - Effective 7/1/2009
The Library shall follow guidelines by the Governmental Accounting Standards Board in accounting for capital assets. Capital assets are property that has a value equal to or greater than the capitalization threshold for the particular classification of the asset and have an estimated life of greater than one year.
The capitalization threshold is $20,000 for software, $50,000 for intangible assets and $5,000 for all other assets.