How Asset Management Plans Can Work for You
Asset Management Plans: A quick way of describing the process which evaluates aging infrastructure, and identifies growth needs, and provides important objectives for effectively managing your utility. An Asset Management Plan will protect your community from unexpected and expensive pitfalls and prepare you to move quickly when funding opportunities are made available.
PROJECT HIGHLIGHT: CAMP ATTERBURY WATER/WASTEWATER UTILITY ASSESSMENT, EDINBURGH, IN
- Defining existing conditions and quantifying areas of concern.
- Attributing anticipated growth factors over 2, 5, 10 and 20-year growth scenarios and identifying corresponding utility needs to accommodate said growth.
- Assembling a water model and utilizing same to identify existing and future pressure and supply concerns.
- Tallying utility assets and applying factors such as age, criticality, useful life, redundancy, etc. to determine the prudent requirement for monitoring, maintenance, and replacements (i.e. asset management plans).
- Identifying potential solutions for addressing various acute growth or failure scenarios.
- Providing opinions of cost for replacing equipment at or beyond its useful life and for capital projects which would address growth or other utility needs.
The plan is currently being utilized by the Indiana Army National Guard to prioritize improvements required to support the desired level of service at the Water Treatment Plant. Top priority improvements are already underway.
Note: The Indiana Finance Authority’s State Revolving Fund released guidance for the Asset Management Program that will comply with Senate Enrolled Act 362. Asset Management Plans will be required for projects in connection with SRF project financing beginning July 1, 2019. These plans must be structured to demonstrate the operation and maintenance of loan applicants in the Financial, Managerial, Technical and Legal areas. For more information, contact Theresa Criss-Hartwig, Director of Business Development.