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  • 1.  Looking for samples of Capital Expense Policies

    Posted 07-07-2021 05:55 PM
    Hi All,
    My board is looking at creating a Capital Expense Policy that clearly outlines what is "capital", what the expense threshold is, and other pertinent information. I'm hoping some wonderful list members might have a sample of such a policy from their museum that they would share with me.

    Thank you.
    Keni 


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    Keni Sturgeon
    Executive Director
    Wenatchee Valley Museum & Cultural Center
    Wenatchee WA
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  • 2.  RE: Looking for samples of Capital Expense Policies

    Posted 07-08-2021 01:20 PM

    Hi Keni

     

    I don't have a copy of a policy that I have permission to share but I do know that at my last museum, a definition of capital expenses was included in our audit. That might be a place to start as your auditors should already be classifying some expenses as capital and applying some purchases to offset depreciation.

     

    Depending on your museum size and spending habits, capital expenses might be as low as $1000 with a lifespan of 10 years or may start at $5K or higher.

     

    Best,

     

    Diane Gutenkauf

    630-650-8425 (cell)
    dgutenkauf@hotmail.com
    Sent from Mail for Windows 10

     




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