Capital Asset Assessment, Maintenance and Replacement Policy (2007 and 2010)
Commentary on the GFOA Best Practices Part I
In our ongoing mission to assist local governments in the optimization of their capital investments, CIPPlanner™ is continuing to evaluate the recommended best practices adopted by the Government Finance Officers Association (GFOA). This six part analysis will focus on the recently revised Capital Asset Assessment, Maintenance and Replacement Policy. This policy has been reworked by the GFOA just three years after its initial adoption. We see this change as a sign of the rapid evolution of the thought process around Capital Program Management and its growing importance in unifying the planning, financing, and implementation and performance measurements across the governmental enterprise. Specifically the recommended best practice is bringing together the key elements of both the finance and engineering points of view...
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