Agenda

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Item # 4.

Work Session and Regular Meeting

Meeting Date:	03/24/2020
Department:	City Manager
Pillars:	Excellence in Asset Management
Milestones:	Effectively utilize and promote the Silver Line development with a first mile/last mile solution

AGENDA CAPTION:

Consider Action on a Resolution to Adopt an Asset Management Policy.

BACKGROUND:

In Fiscal Year 2017, Council directed Staff to initiate the development of an Asset Management Plan to assist in managing the Town's assets. To date, Staff has completed a number of vital steps in this process:

A Request for Qualifications was issued resulting in the engagement of Kayuga Solutions, Inc. (Kayuga) to assist the Town in the development of the plan. Kayuga was founded to develop asset management plans for public agencies. They have worked with numerous domestic and international clients in asset inventory, condition assessment, risk management, lifecycle modeling and other asset management related activities.
Staff and Kayuga developed the Town's asset inventory and assessed each asset's condition.
The asset information was loaded into a software program called IRIS (Infrastructure Reinvestment Intelligence System). This software allows users to develop various cost models related to the maintenance, rehabilitation and replacement of assets.
The Council approved a software license and maintenance agreement for a Computerized Maintenance Management System (CMMS) to store records of an asset's work history and understand the life-cycle cost of asset ownership.

On March 10, 2020, Council discussed a draft Asset Management Policy that:

Establishes the scope and framework for the Asset Management Plan.
Establishes key definitions regarding Asset Management.
Establishes principles regarding sustainability, resiliency, transparency, communication and fiscal responsibility.
Defines roles and responsibilities for Council, the City Manager, the Chief Financial Officer, and Department Directors regarding Asset Management.

This agenda item adopts the Asset Management Policy discussed on March 10, 2020.

RECOMMENDATION:

Administration recommends approval.

Attachments
Resolution - Asset Management Policy