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As part of the Governmental Accounting Standards Board Statement 34 (GASB 34) implementation, governments are required to report major general infrastructure assets acquired or constructed in fiscal years beginning on or after January 1, 1980. Major general infrastructure assets are defined as networks or subsystems that either represent 10 percent (for a network) of the general capital assets or 5 percent (for a subsystem) of the general capital assets being reported at December 31, 1999. A network is described as all assets that make up a similar service provided by the municipality/governmental agency (such as roads, water, etc.). A subsystem can be defined in terms of where the assets are located (the water system south of Main Street) or by component (all pipe, all tanks, etc.)

One additional benefit to the GASB 34 program is the identification of annual depreciation values. By determining the amount of annual depreciation, a utility can also determine adequate renewal and replacement (R&R) funds. These R&R funds will have sound justification based on basic accounting principles. This type of justification will assist the utility manager in defining his budget and presenting it to the elected officials.

This project outlines the methodology used to derive 22 years worth of cost information for both City- and developer- installed systems. Although the City had some data for City-installed projects from 1988 to the present, GASB 34 requires information back to the year 1980. Some City-installed systems had ordinances and documentation outlining costs of some of the Capital Improvement Projects. Identifying costs for the remaining CIPs, without support documentation, was an issue solved.

Document Type: Research Article


Publication date: January 1, 2003

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  • Proceedings of the Water Environment Federation is an archive of papers published in the proceedings of the annual Water Environment Federation® Technical Exhibition and Conference (WEFTEC® ) and specialty conferences held since the year 2000. These proceedings are not peer reviewed.

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