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2 <br />place to properly account for the items which fall under the limit. In order to impact the current <br />year financial statements, the policy amendment would need to be effective July 1, 2000. <br />FINANCIAL IMPACT: There is no expenditure of funds or revenue derived from this action. As <br />mentioned above, increasing the fixed asset limit will significantly reduce the time involved in <br />the financial reporting aspects of asset accounting. <br />RECOMMENDATION(S): The Manager recommends that the Board adopt the amendment to <br />the Fixed Asset Capitalization Policy increasing the asset limit to $5,000 effective July 1, 2000. <br />