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<br />City of Centervi{{e <br />1{esofution of tlie City Councu <br />September 25, 2002 <br /> <br />WHEREAS, the City of Centerville will be required by Governmental Accounting <br />Standards Board (GASB) Statement No. 34 to establish a capitalization limit for the <br />recording and depreciation of fixed assets as defined by GASB; and, <br /> <br />WHEREAS, the amount of$2,500 has been recommended by the City's accounting <br />firm. <br /> <br />THEREFORE, BE IT RESOLVED that the city council of the City of Centerville <br />hereby establishes the amount of $2,500 as the limit to record and depreciate items that <br />would otherwise qualify as capital expenditures under the rules of GASB. <br />