Commission Meeting Agenda Item

Agenda Item

Consideration of Approval to Increase the Fixed Asset Capitalization Threshold from $3,000 to $5,000 Starting October 1, 2021



Staff recommends approval of increasing the fixed asset capitalization threshold from $3,000 to $5,000 for any tangible property items that have a projected useful life of one year or more starting October 1, 2021.


The Town has been using a capitalization threshold of $3,000 since October 1, 2015. The Florida Department of Financial Services Rule 69I-73 and the Government Finance Officers Association (GFOA) recommends that a government establish a capitalization threshold of no less than $5,000, and the thresholds are best applied to individual items rather than to groups of similar items.

Fiscal Impact

Less Fixed Asset Tracking

Source of Funding

Not applicable

Funding Impact

Operating and Capital Assets