Digging into Proposed Financial Reporting Standards for Infrastructure Assets

Infrastructure is discussed regularly both inside and outside the accounting office—the condition levels, capital maintenance budgeting, upkeep costs, and regulations. These infrastructure assets are often the highest-valued capital assets reported by a government, with useful lives spanning generations. The Governmental Accounting Standards Board (GASB) is seeking to improve information on these assets within annual financial reports and is moving quickly toward final guidance that provides a clear definition of infrastructure assets, expanded note disclosures and new required supplementary information schedules.

After completing a field test on the Invitation for Comment proposals during 2025, several provisions were removed from the proposal in the exposure draft. Come hear what's currently on the table as we anticipate these new requirements.