This paper will be of interest to any agency concerned with sound asset management and maintaining the quality and viability of its infrastructure over the long term. The approach described also satisfies substantial portions of the requirements of Governmental Accounting Standards Board Statement 34 (GASB 34), especially that statement's modified approach, and the “Capacity Management, Operations, and Maintenance” (cMOM) regulations proposed as part of NPDES permitting requirements and applying primarily to wastewater agencies.