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ARTICLE · 23 JUNE 2026

What GASB’s Proposed Infrastructure Reporting Changes Could Mean for You

MGO CPA LLP
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GASB’s proposed amendment to Statement No. 34 could significantly change how infrastructure assets in governmental financial statements are defined, depreciated, and disclosed.

United StatesAccounting and Audit
Marilyn Toledo
Marilyn Toledo
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Key Takeaways:

GASB’s proposed amendment to Statement No. 34 could significantly change how infrastructure assets in governmental financial statements are defined, depreciated, and disclosed.

The Exposure Draft introduces expanded reporting requirements related to infrastructure asset components, aging assets, modified approach documentation, and network-level disclosures.

Governments should begin evaluating how the proposed changes could affect capital asset records, depreciation practices, financial reporting processes, and long-term infrastructure management.

The Governmental Accounting Standards Board (GASB) has issued an Exposure Draft, Infrastructure Assets, proposing an amendment to GASB Statement No. 34 that could reshape how governments define, depreciate, and disclose infrastructure assets.

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