Ownership

Most utilities own the assets associated with the systems they manage; however, there might be cases in which the system manages assets it does not own, or there are assets adjacent to or serve a function associated with a managed asset.  

Often green assets, predominantly associated with stormwater systems, are not owned or managed by the system, such as a rain garden or a green roof. Those assets should be included in the inventory because the utility still needs to track the asset condition and how it is maintained to ensure that those features are functioning appropriately.  

You may choose to separate the asset inventory into assets your utility own and assets you do not. Tracking them separately allows for: 

• • • understanding the different methods and schedules for maintaining assets
    • knowing how the assets are funded to include in long-term planning and replacement
    • identifying which departments maintain which assets

You can choose to include all assets in one inventory but have a category that indicates ownership of the asset. Tracking them together allows for: 

• • • viewing all your assets in one place
    • pulling together estimates of full costs for replacement of sections of your utility system
    • sharing full information about the assets that the utility uses to provide services

Asset ownership can have an impact on the ability to conduct maintenance activities, such as removing invasive species or managing vegetation on adjacent properties. In some cases, systems have offered to treat green assets on private lands or install security features to ensure the assets are properly maintained and continue to meet the desired level of service. It is important to consider the ability to access the asset for maintenance when assets are installed.