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DESCRIPTIONS AND CONDITIONS <br />Finance and the Budget Office have been discussing changing the threshold for capitalizing fixed <br />assets from $500.00 to $750.00 Florida Statutes 274.02 allows fixture and other tangible <br />personal property of a non -consumable nature with a value of $750.00 or more and a normal <br />expected life of one year or more to be capitalized The amount was changed to $750.00 in the <br />law several years ago and Indian River County did not increase the amount at that time. <br />RECOMMENDATION <br />Staff feels that we should change the threshold on fixed assets to $750.00 to be effective <br />October 1, 2001. <br />ON MOTION by Commissioner Adams, SECONDED BY <br />Commissioner Tippet, the Board unanimously changed the <br />threshold on fixed assets to $750.00 to become effective <br />October 1, 2001, as recommended in the memorandum. <br />7.B. Approval of Warrants <br />The Board reviewed a Memorandum of June 28, 2001: <br />TO: HONORABLE BOARD OF COUNTY COMMISSIONERS <br />DATE: JUNE 28, 2001 <br />SUBJECT: APPROVAL OF WARRANTS <br />FROM: EDWIN M. FRY, JR., FINANCE DIRECTOR <br />In compliance with Chapter 136.06, Florida Statutes, all warrants issued by the <br />Board of County Commissioners are to be recorded in the Board minutes. <br />Approval is requested for the attached list of warrants, issued by the Clerk to <br />the Board, for the time period of June 21, 2001 to June 28, 2001. <br />Attachment: <br />July 10, 2001 <br />6 <br />BK 1i PG 807 <br />