Pioneer Consulting Group provides turn-key GASB 34-compliant fixed asset accounting studies for local government and publicly owned utilities.
The Governmental Accounting Standards Board (GASB) is responsible for establishing and improving accounting and financial standards for state and local governments. In June 1999, GASB issued Statement Number 34. This mandates that state and local governments file a report on the value of their infrastructure assets.
These assets include both capital assets and infrastructure assets. Capital assets include land, buildings, vehicles, equipment, etc. Infrastructure assets include water and sewer mains, hydrants, valves, roads, sidewalks, dams, drainage, etc.