GASB 34, 35 Public Infrastructure Reporting Asset Tags

Camcode posted a new press release today to raise awareness of new guidance issued by the Governmental Accounting Standards Board (GASB). We posted that release in our article section to make it publicly available today.

That release is being distributed nationwide tomorrow and we'll post references here to online uses as they occur. The press notice, titled Durable Asset Tags for compliance in Governmental Accounting Standards Board (GASB) Statement 34, 35 "Life of Asset" Public Infrastructure Reporting.

In brief, the information included is as follows:

As of 2005, reporting of infrastructure assets in "Statement of Net Assets" is now required, according to guidance published by (GASB Statement 34 & 35).

Public entities, including public universities and colleges, which have adopted recommendations published by the GASB, must now track acquisition, sale & disposal of fixed assets.

Camcode Durable Metalphoto® Bar Code Asset Tags are a recognized method of effectively tracking the useful life and depreciation of infrastructure assets such as roads, bridges, water and sewer utilities.

Camcode has sold more than ten million asset tags & barcode labels to customers including public & state universities and state & local government institutions.