Title
Approve the Appendix A: Amended Chatham County Financial and Budgetary Policies
Abstract
Introduction & Background: Chatham County policies must periodically be reviewed and amended.
Discussion & Analysis: The Financial and Budgetary Policies were last amended on January 9, 2024. The current recommended changes to the Financial and Budgetary Policies are to provide clarifying language for policies already in practice and to increase the capitalization threshold of capital assets. The changes are highlighted in the attached redline version of Appendix A: Amended Chatham County Financial and Budgetary Policies.
Current changes that were discussed during the budget retreat held January 6-8, 2026, include clarification on who approves certain grant applications, the Budget Officer’s authorization to execute contracts and change orders, and the revenue and fund balance policies.
The County’s current capital asset capitalization threshold is $5000 and a useful life of more than one year. Staff recommend this threshold be increased to $10,000 or more and a useful life of more than one year. This recommendation aligns with federal guidelines for receipt of federal funds, as well as recognizing current market conditions in procurement.
Budgetary Impact: There is no budgetary impact by approving the amended policies.
Recommendation/Motion: Motion to Approve Appendix A: Amended Chatham County Financial and Budgetary Policies with an Effective Date of July 1, 2026.