Capital Asset Assessment, Maintenance and Replacement Policy (2007 and 2010)
Commentary on the GFOA Best Practices Part 4
Recommendation number four of the GFOA Replacement Policy focuses on matching funding to the level of service a government has committed to provide.
4. Allocating sufficient funds in the multi-year capital plan and annual operations budget for condition assessment, preventative maintenance, repair and replacement of capital assets in order to continue the provision of services that contribute to public health, safety, and quality of life of the public....
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