It's time to take stock of fiscal issues. I am sorry to report travel budgets will be frozen for the remainder of this fiscal year. Energy costs have exceeded planned allocation, and the company needs to conserve
it's assets.
Explanation:
Its is already a possessive pronoun, so needs no apostrophe to indicate possession. It's = the contraction for "it is" or "it has".
Solution:
- The company needs to conserve its assets. ("Protect it is assets" makes no sense.)
More Information on
it's vs its.