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<br /> <br />'Esta6{ishea 11J57 <br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br />CITY OF CENTERVILLE <br /> <br />1880 'Main Street . Cent,roWe, 'M9{ SS038 <br />(6S1) 4293232 . _'Fa;t (6S1) 429-8629 <br /> <br />RESOLUTION #02 - 042 <br /> <br />ESTABLISHING A CAPITALIZATION LIMIT FOR THE RECORDING AND <br />DEPRECIATION OF FIXED ASSETS (GASB 34) <br /> <br />WHEREAS, the City of Centerville will be required by Governmental Accounting <br />Standards Hoards (GASH) Statement No. 34 to establish a capitalization limit for the <br />recording and depreciation of fixed assets as defined by GASH; and <br /> <br />WHEREAS, the amount of $2,500 has been recommended by the City's accounting <br />firm; and <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br />CENTERVILLE, MINNESOTA that the City Council of the City ofCenterville hereby <br />establishes the amount of $2,500 as the limit to record and depreciate items that would <br />otherwise qualify as capital expenditures under the rules ofGASB. <br /> <br />PASSED AND ADOPTED by the City Council this 25th day of September, 2002. <br /> <br />rL9-J}./ G-V..) ~ <br /> <br />Mayor City Clerk <br />