Asset Type Rules

Policy ›› Policy Overview ››
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For each Asset Type, a Policy includes the following:


Service life calculation type

The method used to estimate the useful life of each asset. The default option is Age AND Mileage for Revenue Vehicles and Age Only for other asset types. This can only be changed by the State.

Replacement cost calculation type

The method used to estimate the costs of replacing an asset. Options include Replacement Cost, Replacement Cost + Interest (default for Revenue Vehicles), and Purchase Price + Interest which is the default for all asset types.

Condition rollup calculation type

This field is currently not in use. It will be used in order to calculate rollup condition values for an asset that has multiple components associated with it.

Annual inflation rate

The annual interest (inflation) rate used to determine the future cost of an asset. The default value is 1.1%.

Percent residual value

The residual value for an asset at the end of its useful life, as a percentage of the original cost. This value is used to determine cost recovery when estimating capital needs. This should be set to 0 if assets are fully depreciated at the end of their useful life.

Condition rollup weight

This field is currently not in use. It will be used in order to assign user-defined weights when calculating rollup condition values for an asset that has multiple components associated with it.