ADOPTED - JULY 27, 2010

                                                                                                                                                   Agenda Item No. 14

Introduced by the County Services and Finance Committee of the:

INGHAM COUNTY BOARD OF COMMISSIONERS

RESOLUTION REVISING THE COUNTY’S CAPITALIZATION POLICY TO LOWER THE THRESHOLD TO $1,000 IF THE ASSET IS IDENTIFIED IN A

SPECIFIC GRANT AGREEMENT

RESOLUTION #10-214

WHEREAS, Ingham County Financial Reporting Capitalization threshold was set to $5,000 by Resolution #06-032 in February 2006; and

WHEREAS, many Grantors require a lower capitalization threshold so that the asset can be tagged and inventoried as a County asset.

THEREFORE BE IT RESOLVED, that the Ingham County Board of Commissioners revises the current Financial Reporting Capitalization Threshold as established by Resolution #06-032 to: 

The County’s asset capitalization threshold will be $5,000 unless dictated by project need as identified in a specific grant agreement in which case the threshold will be $1,000.

BE IT FURTHER RESOLVED, that this Ingham County Financial Reporting Capitalization threshold revised policy will go into effect the date of the passage of this resolution.

COUNTY SERVICES:  Yeas:  Schor, Celentino, Grebner, McGrain, Vickers

Nays:  None              Absent:  Copedge     Approved 7/20/10

FINANCE:  Yeas:  Grebner, Schor, Holman, Dougan

 Nays:  None               Absent:  Tennis, Bahar-Cook          Approved 7/21/10