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AWWA JAW59342
- Journal AWWA - Adapting GASB 34 for Water Utility Rate-Making
- Journal Article by American Water Works Association, 01/01/2004
- Publisher: AWWA
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When the General Accounting Standards Boardissued Statement No. 34 in 1999, many utilitymanagers thought it meant big changes to theirwater rate-making principles and financial reportingrequirements. However, GASB 34 does not changethese principles. Although it puts forth new reportingstandards and definitions, AWWA Manual M1remains the preeminent guide for water utility ratemaking,regardless of the accounting rules presented byGASB 34. This article helps eliminate some of the confusionsurrounding GASB 34 and its relationship torate-making. Includes 4 references, figures.