Salt Lake City, UT — Azteca Systems, Inc. announced the release of a specialized product supporting the requirements put forth in the recent Governmental Accounting Standards Board (GASB) Statement No. 34, Basic Financial Statements and Management's Discussion and Analysis for State and Local Governments.

The statement establishes new financial reporting requirements for state and local governments. Among GASB 34’s many new requirements, local governments and related Public Works agencies will be required to report infrastructure assets at their historical cost and the annual expenditures to maintain the infrastructure at a required condition level.

Cityworks GASB/34 was developed to help local governments and related Public Works and Utilities agencies maintain the necessary records and generate the appropriate reports in support of the specific requirements outlined in the statement. The new GASB34 functionality is an extension application to Azteca’s Cityworks, the leading GIS-based Enterprise Asset and Maintenance Management software, utilizing the Cityworks database.

"Developing the GASB/34 application in conjunction with our customers has enabled us to deliver a useable product that is easily understood and easy-to-use,” reported Carl Horton, Director of Product Development at Azteca Systems. “When we showed the final beta version to our customers at our recent User Conference, one customer pointed out the Connector Expansion Pack would save them at least six months of work!"

Functionality
The Cityworks GASB/34 application is available it two parts: Cityworks GASB/34 and the GASB/34 Connector Expansion Pack. Core GASB/34 includes the ability to track a government’s infrastructure inventory, provide tools for asset valuation, and record condition levels of the infrastructure. Calculations for depreciation and reporting for the “Modified Approach” are included in the application. The Connector Expansion Pack allows Cityworks users to load their asset feature inventory directly from their GIS/Cityworks database into the GASB/34 package. By offering the package in separate pieces, Cityworks GASB/34 is also available to non-Cityworks users.

Availability
Cityworks GASB/34 is available to existing and new customers. Pricing information is available by contacting Azteca Systems. For more information visit www.azteca.com.