Title
Auditor-Controller recommending the Board receive and file the attached memo setting the threshold for subscription-based information technology arrangements (software subscriptions) at $100,000 and the threshold for leases at $5,000, effective July 1, 2022.
FUNDING: N/A
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DISCUSSION / BACKGROUND
Pursuant to Governmental Accounting Standards Board (GASB) Statement No. 87 (Leases) and Statement No. 96 (Subscription-Based Information Technology Arrangements), the County must capitalize certain leases and software subscriptions. As the County’s chief accounting officer, I have the authority to set the County’s capitalization thresholds. After reviewing the limits used by several other counties, I am setting the threshold for subscription-based information technology arrangements (software subscriptions) at $100,000 and the threshold for leases at $5,000.
ALTERNATIVES
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PRIOR BOARD ACTION
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OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION / COMMENTS
Approve as recommended.
FINANCIAL IMPACT
N/A
CLERK OF THE BOARD FOLLOW UP ACTIONS
Receive and file attached Memo.
STRATEGIC PLAN COMPONENT
N/A
CONTACT
Joe Harn