The Governmental Accounting Standards Board has issued a proposed statement on infrastructure assets, and is seeking public comment on it.
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It is based on input from financial statement users that GASB gathered during its research on the subject, as well as responses to a preliminary views document that it issued in 2024.
Among other things, the ED proposes guidance around separately recognizing and depreciating components of infrastructure assets that are reported at historical cost net of accumulated depreciation. Specifically, it suggests that if components have a significant cost and are “substantially” different estimated useful life from the overall infrastructure asset, they should be considered as separate infrastructure assets.
The proposed guidance also stresses the importance of governments performing periodic reviews of the estimated useful lives and salvage values of infrastructure assets used in the calculation of depreciation expense.
Further, the guidance proposes requiring governments to divide information about infrastructure assets in note disclosures by network, and for governments with a policy for monitoring the maintenance and preservation of their infrastructure assets to briefly describe that policy in notes to financial statements, as well as requiring that governments disclose by network of infrastructure assets the historical cost, accumulated depreciation, and historical-cost weighted-average age of infrastructure assets that have exceeded 80% of their estimated useful lives.
GASB has scheduled a series of public forums for stakeholders to share their views; dates and times are in the exposure draft itself on the GASB website,
The board is looking to receive all stakeholder comments by June 26, 2026. They can be submitted to the director of research and technical activities, either via email at
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