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<br />Board Policy No. 29 <br />Asset Management <br /> <br />Page 1 of 3 <br />1.0 Introduction <br /> <br />Per Federal Transit Administration (FTA) requirements, the North County Transit District (NCTD) <br />is required to establish a system to monitor and manage public transportation assets to improve <br />safety, increase reliability and performance, and to measure performance to support the <br />achievement and maintenance of a State of Good Repair (SGR). <br /> <br />This document establishes NCTD’s policy for Transit Asset Management (TAM), provides a <br />definition of an asset for TAM, and defines the performance measures NCTD will use to track <br />asset performance. <br /> <br />2.0 Asset Management Policy <br /> <br />NCTD has established a policy statement to describe its overall asset management approach <br />and set the direction for continuous improvement: <br /> <br />3.0 Asset Definition <br /> <br />NCTD defines an asset as an entity (or system of entities) that is either owned, leased, or <br />maintained by NCTD with a value of $5,000 or greater and is: <br /> <br />• Repairable or replaceable <br />• Has an expected useful life of more than one year <br />• Requires intervention/activities (e.g., preventive maintenance) to reduce risk of failure <br /> <br />This asset definition applies to all properties and systems within the four defined asset categories <br />– Rolling Stock, Equipment, Facilities, and Infrastructure - that are considered part of and enable <br />the safe operation of NCTD’s transit system. In addition, this definition is applicable across all <br />divisions and is separate from the Finance Division’s procedure regarding capital asset <br />management activities, which extend beyond the four asset categories. <br /> <br /> <br />North County Transit District (NCTD) is committed to maintaining its assets in a State of Good Repair <br />by utilizing a strategic process to acquire, operate, maintain, and replace its assets. This supports the <br />District’s mission to deliver safe, convenient, reliable, and user -friendly public transportation services <br />to its customers throughout the growing region and demonstrates sound financial stewardship. A <br />State of Good Repair is achieved when all capital assets are meeting NCTD’s safety and performance <br />goals within the condition targets established by NCTD. <br /> <br />NCTD will maintain an accurate asset registry, monitor the condition and performance of its assets, <br />optimize decision making, and maintain a list of priorities. This will ensure that taxpayer dollars are <br />spent where they are needed most and enable NCTD to balance competing needs while keeping its <br />system in a state of good repair.