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Asset Assessment

February through June of 2012, VFA conducted a campus wide facilities condition assessment. This evaluation focused on facilities, systems and their requirements. Components correlated to campus grounds, sidewalks and retaining walls were not assessed; therefore are not part of the analysis or continued reporting that is produced using the VFA database. The assessment consisted of:

  • Record & inventory of asset data such as, current use, construction type, year constructed, year renovated, size, number of floors, location, etc.
  • Type and condition of asset systems such as exterior envelop, mechanical equipment, interior finishes, plumbing, electrical, etc.
  • Observation and recording of requirements by:
    • Priority (date due)
    • Category (cause)
    • Asset System


The scope of work will be a compilation of recommendations from the VFA database, institutional knowledge of the facilities management senior leadership team, need of the University, recommendations from the cabinet and senior administration, opportunity available to complete and be within a ten year planning horizon of ownership by the University.

Facilities management will prepare a preliminary annual renewal and replacement plan for consideration by the University's cabinet prior to the May Board of Trustees meeting.  Project selection will be based on the following prioritization:

  • Safety
  • Integrity of Building Envelop
  • Return on Investment
  • Building System Functionality
    • Comfort
    • Lighting
    • Plumbing
    • Power
    • Temperature
  • Appearance of Building Exterior
  • Appearance of Building Interior


The asset renewal and replacement cost must be $10,000 or more in order to be placed on the proposed renewal and replacement project list. Asset renewal and replacement costs that fall below the $10,000 will be renewed or replaced with available funding from the Facilities Management operational budget. Asset costs will consist of the asset and any fees associated with the replacement or renewal of said asset.

Initial cost requirements will be concluded from the recommended replacement costs from the VFA database and/or current estimates received by Facilities Management. Project forecasts will be updated on a monthly basis and will reflect the most updated costs of the project as actual pricing is realized.


Renewal and replacement projects must be started and completed within the University’s fiscal year (July 1st – June 30th.) Windows of opportunity are limited as the interference to the University and campus community must be minimized.


Using the VFA database as a primary resource to develop both the scope, cost and timing of renewal and replacement projects, particular system renewals shall be exempt of immediate consideration unless there is an overall failure preventing the University to function at normal capacity. These renewals are items that are grandfathered from a building code standpoint or have a scope that exceeds the criteria of renewal and replacement, therefore belong to or
associated with a capital project. Examples of system renewal categories that
would fall under this exemption are:

  • Major structural work
  • Complete re-wiring of building
  • Complete re-plumbing of building
  • Replacement of entire fire protection system
  • Replacement of entire data wiring system
  • Replacement of entire building signage
    • Safety
    • Identification
  • Replacement of roof drains