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.