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GASB 34 Forms

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Reviewed Date: October 03, 2018

Original Author: 
Darden, Don
Date of Material: 
May 7, 2004


Subjects:
Accounting--Fixed asset
Forms
Records management
Budgets--Municipal

GASB 34 Forms

Summary: 
MTAS was requested to provide assistance to Morrison on the implementation of GASB 34; includes a resolution and forms for keeping records.


These are the records you need.

First, pass the resolution.
Second, identify your capital assets.
Third, record capital assets.
Fourth, include expense for deprectiation in the general fund budget.

Example:

Land   $100,000 (dep. over 40 years) = $2,500

Equip.

Computer $10,000 (dep. over 3 yrs)= $3,333.33
Patrol Car $20,000 (dep. over 5 yrs)= $4,000

Depreciation Expense is $9,833.33


Attachment(s):

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Knowledgebase: Implementing GASB 34
MORe Entry: Sample Forms
MORe Entry: Correcting Form I-9
MORe Entry: Updating Form I-9

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