Governmental Accounting Standards Board Gasb 34, 35 Compliance
Durable Asset Tags for compliance in Governmental Accounting Standards Board (GASB) Statement 34, 35 "Life of Asset" Public Infrastructure Reporting
Cleveland, OH - March, 15 - Recent changes in guidance published by the Governmental Accounting Standards Board (GASB Statement 34 & 35) now require, in "Statement of Net Assets" the reporting of infrastructure assets for some government entities as early as 2005 (previously optional). MetalPhoto bar code asset tags used in fixed asset tracking applications allow life-cycle management, meeting GASB standards in compliance with public property management accounting standards - tracking acquisition, sale & disposal of fixed assets.
Asset tags or bar code tags are used by public agencies for property identification and to help track the useful life of owned assets. Durable MetalPhoto® barcode asset tags last the life of the fixed assets and ease reporting of new capital asset acquisition, useful life depreciation and disposal.
GASB standards embodied within "Statement 34", require public infrastructure assets such as roads, bridges, tunnels, water and sewer systems and dams, be reported together with related depreciation or preservation costs. "Statement 35" applies GASB 34 in the comprehensive financial statements of public colleges and universities.
MetalPhoto bar code asset tags, when incorporated into a fixed asset tracing program, can help government agencies:
- Identify owned assets quickly and easily
- Compliance with government regulations
- Track useful life of assets and depreciation schedules
- Schedule maintenance and replacement of owned assets
Camcod.com has sold more than ten million asset tags & barcode security labels since 1995. Serving the following clients at public & state universities and state & local government institutions with warehouse labels and signs, UID labels, Metalphoto asset tags, Property ID tags.
Social Security Administration, Miami Children's Hospital, University Of Texas, John C. Lincoln Hospital, Charter Township Of West Bloomfield, Brandeis University, Township of Monroe, Town of Longboat Key, San Joaquin Valley College, Dept. of Navy CNAT, State University of New York, The Toledo Hospital, South Florida Regional Planning Council, Baylor Health Care System, St. Joseph's Mercy Hosp., University of Nebraska
Contact: Joe Brunemann
Camcode Division of Horizons Inc.
18531 South Miles Road
Cleveland Ohio 44128
800-627-3917
Fax 216-475-6507
E-mail:
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About the Governmental Accounting Standards Board (GASB)
The GASB is an independent, not-for-profit organization formed in 1984 to establish and improve financial accounting and reporting standards for state and local governments. Seven members are drawn from the Board's diverse constituency, including preparers and auditors of government financial statements, users of those statements and members of the academic community. Information about GASB can be found at http://www.gasb.org
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