In June 1999, the Governmental Accounting Standards Board (GASB) unanimously approved Statement No. 34: Basic Financial Statements-and Management's Discussion and Analysis-for State and Local Governments. Among its many new provisions, GASB 34 requires that state and local governments begin to report on the cost of their infrastructure assets, including roads and bridges. Given that many of the infrastructure assets owned by the public sector in this country are built and maintained by transportation agencies, DOTs are among the public agencies most affected by these new requirements. Each jurisdiction is allowed to determine its own asset management methodologies, systems, and standards. However, this flexibility results in divergent approaches by the DOTs. This report (1) summarizes the approaches taken by DOTs to comply with GASB 34 and (2) provides information gathered from AASHTO member departments on policies and methodologies for reporting on infrastructure assets.