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Government Accouting Service Boards approval of Statetment No. 34 (GASB 34) is one of the significant pronouncements in the history of more than 84,000 State and Local government financial reporting requirements in the United States. GASB 34 requires that State and Local governments report the value of infrastructure assets such as roads, bridges, water and sewer facilities and dams. This paper will illustrate the reporting methodology followed by the City of Rowlett, Texas. City of Rowlett relied heavily on innovative methods utilizing GIS and GPS technologies to collect, store, analyze and report various assets and their values as required by GASB 34. GASB 34 compliance procedures from conception to completion, as presented in this paper, are comprehensive and easy to implement in State and Local Governments. This paper is geared toward Directors, Engineers, Managers, and Analysts from GIS, Public Works, and Accounting Departments who have an understanding of GASB 34 requirements.