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October 2, 2003 <br />Page 2 <br />Manager Jim Friedl, Director of Public Works Don Nelson, Interim Director of <br />the Planning Division John Prescott, and Director of Library Services Steve <br />Brogden. <br />The meeting was recessed at 8:12 p.m. and reconvened at 8:25 p.m. <br />4. ITEMS FROM THE PUBLIC <br />5. APPROVAL OF AGENDA <br />It was moved by Berger, seconded by Holt, and carried 5-0, to approve the <br />agenda as presented. <br />6. CONSENT CALENDAR <br />A. Approval Of Minutes Of September 18, 2003 Meeting <br />B. Approval Of Warrants, Exhibit A <br />Accounts Payable Check Registers Total $246,944.62 <br />Payroll Total $230,090.15 <br />It was moved by Gibson, seconded by Jacobsen, and carried 5-0, to <br />approve the Consent Calendar as presented. <br />7. DEFERRED MATTERS <br />None <br />8. NEW ITEMS <br />A. Approval Of Revision To District's Fixed Asset Accounting Procedures <br />Jorgensen explained that the revised accounting procedures are the result <br />of financial reporting standards established by Governmental Accounting <br />Standards Board Statement 34 (GASB 34), and will be reflected in the <br />District's financial statements ending June 30, 2003. He referenced the <br />depreciation schedule prepared by American Appraisal. He said that an <br />estimate of the useful life of every capitalized asset and its associated <br />depreciation must be conducted, and increasing the capitalization amount <br />to $5,000 will allow staff to focus on the assets of greater significance. <br />