GASB 34--Methods for Condition Assessment and Preservation

Abstract

This report updates the findings contained in NCHRP Report 522, A Review of DOT Compliance with GASB 34 Requirements. NCHRP Report 522 provided a comprehensive look at approaches taken by AASHTO member departments to comply with the requirements of Governmental Accounting Standards Board (GASB) Statement No. 34. NCHRP Report 608 provides a recommended practices guide that identifies effective methodologies that integrate infrastructure inventory, condition assessments, minimum acceptable condition levels, and funding decisions with GASB 34 reporting requirements and assesses the operational and financial impacts of reporting under GASB 34. 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 policymaking.