Valuation of Infrastructure Assets for
Transition
•Infrastructure
assets will be reported in the closing packages/statement of net assets at
historical cost less accumulated depreciation. Historical cost includes estimated
historical
cost.
•Replacement cost or current
cost, which is then deflated back to the acquisition date, is an acceptable
method for estimating original cost of
infrastructure in governmental funds.
•Transition
rules do not apply to enterprise funds or to colleges/universities.
•