Site Strategic Planning
Government Agency Consulting Services
Historical systemic biases have generally resulted in government agencies understating many of the liabilities on the balance sheet. Such understatements have misrepresented an agency's financial position and have resulted in poor capital planning. To counteract this pervasive problem GASB Statement No. 49 was recently enacted which makes key changes to past reporting methodologies. This new reporting standard is effective for financial statements for periods beginning after December 15, 2007.
ERCI's domain knowledge can be instrumental for government agencies looking to revamp their environmental liabilities reporting methodology in light of GASB Statement No. 49. ERCI provides consulting services to government agencies who wish to validate current and future remediation reserves, determine asset retirement obligations, ensure compliance with new reporting requirements, and improve the efficiency of their environmental expenditures.
ERCI also works with its government clients to develop a methodology to accurately price environmental liabilities and create and preserve an audit trail of environmental liability estimates. ERCI leverages its proprietary suite of applications, Defender®, in these efforts.