GASB 34

MuniFinancial can assist the newly-incorporated Agency with the new standards set forth in the Governmental Accounting Standards Board Statement 34 ("GASB 34"). GASB 34 establishes new financial reporting requirement for public agencies, dramatically affecting the way governments report information. It requires a shift to full accrual accounting for each of the government activities, accounting for infrastructure and expanded reporting of significant information in an executive summary called "Management's Discussion and Analysis."

GASB 34 requires infrastructure assets to be inventoried and valued. The Agency's infrastructure will first need to be organized into networks and systems and then an approach to valuation will need to be determined and implemented. Examples of infrastructure assets include roads, bridges, tunnels, drainage systems, water and sewer systems, dams and lighting systems. MuniFinancial will work closely with the Agency's auditor and engineering staff to propose the most advantageous approach for the Agency.

Financial Consulting Services