Asset management is a planning process used to ensure that our system maximizes the value of its assets and maintains a financial reserve in the event aging or failing infrastructure needs to be rehabilitated or replaced. Asset management is particularly important for small communities, which have to rely on limited resources and funds due to their small customer base. The key components of asset management are:
1. Conducting a thorough inventory of system assets
2. Prioritizing rehabilitation and replacement of system assets
3. Developing an annual estimate of needed financial reserves
4. Creating an annual budget
5. Creating and implementing an asset management plan, and
6. Reviewing and revising the asset management plan on a regular basis.
"By failing to prepare, you are preparing to fail."
APPLE VALLEY HEIGHTS COUNTY WATER DISTRICT
Annual CIP Budget Update
The CIP budget is updated annually. Board adoption of the CIP budget establishes the scope and budgetary costs of various capital projects designed to meet the long-term needs of the District. Typically, the Board adopts the CIP budget, along with the adoption of the operating budget. Board approval is required in various phases of implementation of each individual project. The Board has the opportunity to review projects and to approve different aspects of a project during planning, design and construction.
A CIP provides many benefits including:
* Allows for a systematic evaluation of all potential projects at the same time.
* The ability to stabilize debt and consolidate projects to reduce borrowing costs.
* Serve as a public relations and economic development tool.
* A focus on preserving a governmental entity's infrastructure while ensuring the efficient use of public funds.
* An opportunity to foster cooperation among departments and an ability to inform other units of government of the entity's priorities. For example, it is not uncommon for a large city or county to incorporate into its CIP the capital needs of a school district, parks and recreation department and/or some other public service structure.
Location: Mesa Vista St. from our well site to our tank site.
Roughly 1.5 miles of pipe.
Overview of Project: Design for water main replacement, along with new service connections, hydrants, and valves.