A Review of DOT Compliance with GASB 34 Requirements (2004) / Chapter Skim
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Pages 46-48
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From page 46... ...
It has been suggested that if a more consistent method for condition assessments and preservation could be developed, a long-term approach to reporting condition assessment data in the financial statements that would relate to funding of preservation (similar to how pension expense is now reported by employers -- see NCHRP Web Document 63) would be more meaningful than the current modified approach.
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From page 47... ...
result in more comfort and acceptance by DOT officials. Linking Condition Targets to Required Expenditures Virtually all modified approach states experienced difficulty in estimating the expenditure level necessary to achieve targeted conditions.
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From page 48... ...
Potential Effect on Bond Ratings As noted above, several local governments have reported improved bond ratings as a result of preparing financial statements in accordance with the modified approach. Although a comprehensive review of local governments' compliance with GASB 34 is outside the scope of current or proposed NCHRP research, these reports are clearly of great interest to the state DOTs.
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