The Governmental Accounting Standards Board issued Thursday a request for comments on updating guidelines directing how states and cities value infrastructure assets like bridges, tunnels, and roads.
The proposal comes as municipalities tap federal funding for infrastructure projects.
The standard-setter proposed allowing governments to use the modified approach of calculating depreciation of infrastructure assets part-by-part or continue using an accumulated depreciation method that combines each asset.
- Under the board’s preliminary views, infrastructure assets would be defined as individual assets that are made up of multiple components.
- Those components would be part of a network of “long-lived capital assets” used to …