Subjects addressed:Financial Management/Asset Valuation, Life Cycle Costing/Economic Analysis
Topics addressed:Analytical Tools and Models, Asset Management Plans
Asset types addressed:General
DetailTitle: A Review of DOT Compliance With GASB 34 Requirements
Resource type: Research Report
Year published: 2005
Publisher: Transportation Research Board
This report provides a comprehensive look at approaches taken by AASHTO member departments to comply with the requirements of Governmental Accounting Standards Board (GASB) Statement No. 34. GASB 34 is the accounting standard that requires general infrastructure assets to be reported together with related depreciation or preservation costs in the comprehensive financial statements of state and local governments. This report documents how the requirements set by GASB 34 were met and catalogs the various approaches that were implemented in the first year. This report will be helpful to professionals who work with state departments of transportation and local governments in the areas of finance, auditing, asset management, and policy-making.