Council Adopts Asset Management Policy

On May, 23, 2017, the Addison City Council approved a contract with Kayuga Solution, Inc., for the development of a comprehensive Asset Management Plan for Addison. The purpose of the plan is to manage the Town's assets to minimize the total cost of owning, operating, and maintaining those assets, while delivering the desired service level at an acceptable level of risk.

To date, an asset inventory, condition assessment, and planning database have been developed. Town staff is in the process of implementing a Computerized Maintenance Management System (CMMS) which was approved by Council in November 2019. To facilitate strategy development, decision making, and prioritization efforts on Asset Management, Staff has developed a policy.

On March 24, Council approved an 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. 

You can watch the March 10 Council work session Asset Management discussion here and the March 24 discussion here.