Washington, DC, August 29, 2001 - The US Environmental Protection Agency (EPA) has awarded the National Council for Public-Private Partnerships (NCPPP) a grant to underwrite a series of seminars for municipal leaders. The focus of these sessions will be to educate mayors, city managers and other municipal authorities on the use of the new Government Accounting Standards Board's (GASB) statement 34 accounting practices. The NCPPP's Water Institute will conduct the programs with regards to the operations of water/wastewater systems in their jurisdictions.

The EPA and NCPPP share the concern that municipal leaders need a better understanding of the full cost accounting practices in the new standard GASB 34. In many municipalities, the current accounting practices cover operating and maintenance, but in too many cases not the depreciation expense of the capital assets. With the challenges that face the nation's water and wastewater infrastructures, this old accounting methodology can lead to inadequate funding for the rebuilding of infrastructures as the needs arise.

The EPA's grant will underwrite two special conferences to be held by NCPPP this fall and early next year. Sites for these meetings have not yet been identified, but will be developed in cooperation between EPA Regional Offices and the members of NCPPP's Water Institute.