Capital Asset Management PlanVillage of Millville

The Village of Millville will produce a Capital Asset Management Plan for the community's assets. These assets include, transportation services (including road base,surface material and sidewalks), storm water services (including underground piping and pump house), as well as municipal buildings, fleet and land. The Village will accomplish the following tasks to complete the Capital Asset management Plan:  Draft a Policy and Governance Statement outlining the roles and responsibilities of the Village staff and Town Council within the Asset Management system;  Review the municipality's level of services provided to residents;  Develop a detailed inventory of assets, containing information on municipal buildings, storm water assets, transportation linear assets (roads and sidewalks), municipal vehicles, and municipal land;  Conduct a condition assessment of core assets. Core assets include transportation services (roads, sidewalks and curbs) and environmental health services (storm water infrastructure). The condition assessment will follow pre-populated deterioration curves for several asset classes. The deterioration curve follows the five-point scaling system and will be dependent on known MAMP 16018 (28 pages) information such as manufacturer/ supplier information, asset age, theoretical expected useful life and actual useful life.  Identify and evaluate the risk and vulnerability of core assets, and develop a risk management strategy, while incorporating the condition assessment. In addition, the Village of Millville will deliver a high level evaluation of climate hazards and impacts that may affect municipal infrastructure. The Village will also examine the replacement cost associated with each asset and develop a plan for the expected capital financial investment required over the next 50 years.