B1: Oral Presentation C Thursday, 10:30 – 11:00 am C French River Room
34: Penalty or Panacea
700 3rd Street South
Minneapolis, MN 55415
GASB 34 is a financial reporting mandate placed
upon governments that requires them to inventory and to evaluate the condition,
cost and depreciated value of their infrastructure. The impact of this mandate
is potentially large for the Public Works, Finance and GIS Departments of all
governmental agencies. For example the value of the infrastructure in
Minnesota's two largest cities is between $6-10 Billion.
Ideally all three Departments in an agency will
work together to comply with the GASB 34 mandate. Realistically, expediency may
dictate something different.
The objective of the presentation will be to look at GASB 34 compliance strategies from Public Works, Finance and GIS viewpoints to suggest a win-win-win solution for the agency.