New Fiscal and Asset Management Plan Requirement for Small Community Water Systems
New Connecticut General Statutes (CGS) § 19a-37e mandates that small public water systems complete a fiscal and asset management plan for all capital assets by than January 1, 2021. The asset and fiscal plan must be updated annually and be made available upon request by the department.
This process is meant to help public water systems (PWS) maximize the life of their assets at their lowest life cycle cost while maintaining an acceptable level of service to customers. The goal is to enable PWS owners to make better informed decisions about capital improvement projects, rate setting and areas for improvement with a completed fiscal and asset management plan.
Which Small Community Water Systems Are Affected?
Water companies that regularly serve at least twenty-five, but not more than one thousand, year-round residents.
Are there any exceptions?
Yes, this applies to all Small Community Water Systems except:
- Those regulated by the Public Utilities Regulatory Authority
- Those subject to the requirements set forth in section 25-32d of the general statutes
- A state agency
How do I create a Fiscal & Asset Management Plan?
The DPH Drinking Water Section has created a Fiscal & Asset Management Plan Template, Template Instructions, a Fiscal & Asset Management Plan Guidance Document, and Appendix A to the Template which will be required for those PWS interested in also applying for a DWSRF loan.
These documents, and more information including links to a series of webinars presented by DPH in partnership with the Environmental Finance Center Network, Inc. (EFCN), to help educate water systems about the new requirements, can be found on the new Drinking Water Section’s Capacity Development webpage.
Read the original CT Environmental Health & Drinking Water Branch notification.
Tags: asset management, CT DPH, drinking water, WaterShare