Replacement Fiscal Year of an Asset
TransAM uses the policy along with mileage to assign the Replacement Fiscal Year of each asset. The starting point for this calculation is the In Service Date of the asset. The default In Service Date for an asset is the current date.
In all cases, the replacement year is the fiscal year after the year in which the asset reaches the end of its useful life (calculated as described above). For example, if the useful life of an asset is 12 years and it was placed in service in January 2010 (FY 09-10), the asset will reach the end of its useful life in January, 2022 (FY 21-22) and must be scheduled for replacement in FY 22-23.
TransAM tracks two potentially different Replacement FYs for each asset:
Policy Replacement FY |
The fiscal year that the asset must be replaced based on the service life calculation type. An asset is determined to be in backlog if the policy replacement year is prior to the current reporting year. |
Scheduled Replacement FY |
The fiscal year in which an asset owner has scheduled the asset to be replaced. Transit agencies have the freedom to schedule replacement of an asset in a different year than the policy or TransAM estimate would dictate, as described in more detail below. Scheduled replacement years will default to the estimated replacement year value unless a user changes the year. |