Ohio Admin. Code 3745-87-01 - Asset management definitions
(A)
(1)
"Asset" means a component of a facility with an
independent physical and functional identity and age as defined by the water
system. This includes items of substantial value and critical to the delivery
of potable water.
(2)
"Asset management program" means the development of a
program that demonstrates the managerial, technical, and financial capability
of a public water system, by the implementation of the tracking documents,
programs or systems that will assist with the management and replacement of
infrastructure assets to achieve metrics at the least cost and risk to the
water system.
(B)
[Reserved.]
(C)
(1)
"Capability screening" means an evaluation of the
technical, managerial, and financial capability of a public water
system.
(2)
"Capital improvement plan" or "CIP" means a financial
plan based on a three to five-year planning period for all individual capital
improvement projects.
(3)
"Capital improvement project" means a unique
construction project that aims to install, repair, rehabilitate, replace, or
expand existing infrastructure, not including regularly incurred operation and
maintenance costs.
(4)
"Critical infrastructure" means assets, systems and
networks, whether physical or virtual, that are vital for a public water system
to operate, or whose inoperability would have a debilitating effect on the
ability of the water system to operate as intended or would create a public
health risk.
(5)
"Criticality" means an asset prioritization measure
used to determine assets on which to focus, based on potential consequences of
failure, and is used to determine higher priority assets for risk management
activity.
(D)
[Reserved.]
(E)
[Reserved.]
(F)
[Reserved.]
(G)
[Reserved.]
(H)
[Reserved.]
(I)
[Reserved.]
(J)
[Reserved.]
(K)
[Reserved.]
(L)
[Reserved.]
(M)
"Metric" means a
qualitative or quantitative measure of actual performance against a standard or
other target.
(N)
(1)
"Non-publicly
owned" means public water systems not owned by a governmental
entity.
(2)
"Non-revenue water" means the distributed volume of
water that is not reflected in customer billings.
(O)
"Operating
ratio" means a ratio comparing the system's operating expenses divided by its
operating revenue (or net sales).
(P)
(1)
"Pro-forma" means projected or estimated financial
statement that attempts to present a reasonably accurate idea of what a water
system's financial situation would be if the present trends continue or certain
assumptions hold true.
(2)
"Publicly owned" means public water systems owned by a
governmental entity.
(Q)
[Reserved.]
(R)
"Reserve funds"
means funds used for addressing expense situations of a capital nature that
were not expected nor anticipated.
(S)
"Succession
planning" means the process for identifying and developing new or current
personnel who can replace personnel when vacancies occur.
(T)
[Reserved.]
(U)
"Useful life"
means the average amount of time in years, that a new system component is
estimated to function when installed.
(V)
"Vertical asset"
means an asset within a building or facility often comprised of multiple
components, also known as an above-ground asset. In the context of the water
industry, this typically refers to assets within pump stations, treatment
plants, and may include other facilities, such as storage
facilities.
(W)
[Reserved.]
Replaces: 3745-87-01
Notes
Promulgated Under: 119.03
Statutory Authority: 6109.04
Rule Amplifies: 6109.24
Prior Effective Dates: 10/01/1999
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