Deep Dish Discussions on Capitalization Thresholds

Capitalization thresholds are a "tangible" application of materiality in government financial statements. Governments have discretion on setting this threshold, and it's not a one-size-fits-all decision. Speakers will discuss various factors considered when setting thresholds, the impact of capitalization thresholds on different major classes of capital assets, coordination of thresholds with capitalization requirements when using federal funds, and necessary changes to asset management records. This session will also address how to educate internal stakeholders, communicate with governing bodies, and navigate decisions about thresholds with independent auditors.