GASB #34 and #35
The Government Accounting Standards Board’s (GASB) Statements #34 and #35 require government agencies to inventory and depreciate major fixed assets (buildings and equipment), including certain infrastructure items (roads, bridges and underground piping).
For more information about GASB, please visit their website.
Valuations Northwest reports are designed to meet these new reporting standards and to give you the tools you need so you won't receive an unqualified audit with respect to your fixed asset accounting.