PSAB PS 3150

Welcome to the Diamond Municipal Solutions portal for valuable information related to PSAB PS 3150.

In 2009 the Public Sector Accounting Board mandates that all Canadian public sector organizations must report their non-financial assets, including tangible capital assets. Governments need to present information about their tangible capital assets and amortization in their financial statements to demonstrate stewardship and the cost of using those assets to deliver programs and provide services.

Diamond Municipal Solutions is deeply committed to assisting our clients and the public sector in achieving greater success, particularly as it relates to the new requirements of PSAB PS 3150. This portal contains important documentation that will assist your local government in preparing for these new accounting standards. Diamond will continue to post ongoing documentation that is applicable to all provinces across Canada so please continue to watch this site for the latest information.

Fixed Asset Management Module from Diamond

Take control of your municipality’s assets and put them to the best possible use in your organization with the asset management capabilities you need to effectively track, analyze, and manipulate those assets to make them work for you. Manage assets more effectively quickly and accurately record, track and analyze your municipality’s assets with minimal effort and tremendous flexibility using multiple features and powerful reporting tools. Save time and money, set up assets quickly and easily and use classes or account groups to save effort by setting defaults and making mass changes, such as retirement or depreciation, to large numbers of assets at the same time. Put your information to work. Make changes to one or many assets easily and capture necessary asset data for reporting purposes while performing comparisons across assets. Find the information you need by accessing the data you need with an intuitive graphical user interface and convenient one-button access to user-defined information or other critical data, including asset maintenance, purchase, lease, and book information.

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Case Study: Lanark County

"Lanark County ranks among the first municipalities in Canada to successfully develop and execute a plan to meet the new public sector legislation. Lanark County can now access vital information more easily and quickly, improve process efficiencies by 70 per cent and integrate operations to achieve an enhanced level of financial accountability."
Microsoft - September 27, 2007

Lanark County becomes a leader in IT compliance with Diamond and Microsoft Dynamics GP

Source Material

Diamond has compiled additional important documentation from various sources including the AMCTO website and the Ontario Municipal Benchmarking Initiative (OMBI). While we have provided a couple of key documents that may be useful for you, we highly suggest that you investigate the legislation and various whitepapers contained on the GFOA, AMO and other valuable web-sites. We also suggest working with your auditor to gain timely and current information on the legislation.

What do you need to do by December 31, 2008?
Getting Organizde to Implement PSAB 3150
OMBI - Municipal Guide to Accounting for Tangible Capital Assets

Require More Information?

To request more information on ways that Diamond can help you prepare for PSAB PS 3150, simply send an email to info@diamondmunicipal.com or call Toll Free: (877) 311-6522 to speak to a Client Care Associate.