The Governmental Accounting Standards Board (GASB)
issued a Governmental Accounting Statement (#34) in June of 1999 which
profoundly affects how municipal, county and state governments track and
report capital fund and capital asset financial information. Riva
Modeling, an established software tool for Strategic Long Range Asset,
Risk and Budget Management, easily satisfies the basic requirements and
reporting guidelines of GASB-34.
The basic requirements are:
Infrastructure inventories must be included in
the asset base reported in the annual financial statements of state
and local governments
Infrastructure assets may be reported at
historical cost or estimated historical cost
Following initial capitalization,
infrastructure assets should either be depreciated or reported using
a modified approach.
Infrastructure Inventory As an enterprise tool, Riva Modeling pulls information from multiple
systems (Computerized Maintenance Management Systems, Financial Systems,
GIS, Excel and any other ODBC compliant third party application) to
provide a single hierarchical view of all the assets an agency is
managing. Riva Modeling allows the user to report on these assets via any
hierarchy or category they choose.
Historical and Estimated Historical Cost To calculate costs, Riva Modeling provides the user with a formula
builder to create an unlimited number of formulas/algorithms using any
measure the users wants. Replacement and Reproduction Costs are also
easily calculated by Riva Modeling.
Depreciation Approach Riva Modeling satisfies this standard accounting method.
Modified Approach Riva Modeling takes an iterative approach that encompasses Asset
Attribute Information, Condition Assessment/Ratings, Value Analysis and
Risk Analysis to provide Full Lifecycle Analysis and Valuation for any
asset type.
Reporting Riva Modeling supports the creation of an unlimited number of custom
reports. Riva Modeling can also integrate with standard report writing
tools, such as Oracle Reports and Crystal Reports, as well as export to
Excel, Text or HTML.
In addition to reports, a full graphing engine is
standard functionality in Riva Modeling. Reports, Charts and Graphs are
auditable so that any data point, such as a figure in a report or a
section of a graph can be interactively drilled into to reveal the
source of the data.
