Title
Resolution - Review and Approval of the Capitalization Policy - K Jones
Other Info
Submitted By: Renee Oelschleger on behalf of Randy Kruger
Department: Finance
Financial Impact and Cost/Benefit Considerations:
Discussion
Pursuant to the Board’s Policy on Policies, the Board routinely reviews all Board policies as part of its policy management. Under the Board’s approved review schedule, the Board may now consider review of the Capitalization Policy. The purpose of this policy is to establish the guidelines regarding capitalized costs for property, plant, and equipment for PEC and to provide guidelines for consistent and accurate recording of Assets as required for reporting purposes and in accordance with Generally Accepted Accounting Principles.
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS that pursuant to its regular review of Board policies, the Board has reviewed and adopts the Capitalization Policy, with such changes, if any, as were approved by the Board; and
BE IT FURTHER RESOLVED that the Chief Executive Officer, or designees, are hereby authorized to take all such action as may be necessary to implement this resolution.