Abstract: A roofing panel with elastomeric coating incorporates a substantially rigid core with opposed first and second faces. In a preferred embodiment, the core is formed at least partially of portland cement and has a fibrous glass material attached to its first face and a woven polyester material attached to its second face. An elastomeric coating is also provided which is attached to the woven polyester material opposite the core, thereby forming a liquid impermeable layer at an exterior face of the panel. A method for incorporating the roofing panel of the present invention into a roofing system is also provided.