RCW 39.35B.050
Life-cycle cost model and analysis -- Duties of the office of financial management. (Effective until June 30, 2013.)

The office of financial management shall:

     (1) Design and implement a cost-effective life-cycle cost model by October 1, 2008, based on the work completed by the joint legislative audit and review committee in January 2007 and in consultation with legislative fiscal committees;

     (2) Deploy the life-cycle cost model for use by state agencies once completed and tested;

     (3) Update the life-cycle cost model periodically in consultation with legislative fiscal committees;

     (4) Establish clear policies, standards, and procedures regarding the use of life-cycle cost analysis by state agencies including:

     (a) When state agencies must use the life-cycle cost analysis, including the types of proposed capital projects and leased facilities to which it must be applied;

     (b) Procedures state agencies must use to document the results of required life-cycle cost analyses;

     (c) Standards regarding the discount rate and other key model assumptions;

     (d) A process to document and justify any deviation from the standard assumptions;

     (e) Establish a requirement that agencies conduct the analysis comparing a thirty-year and fifty-year building life when using the life-cycle cost model; and

     (f) Establish a requirement that agencies include renovation, system replacement, and remodel costs in maintenance costs for use in the life-cycle cost model.

[2011 1st sp.s. c 48 § 7005; 2007 c 506 § 3.]

NOTES:

     Expiration date -- 2011 1st sp.s. c 48 § 7005: "Section 7005 of this act expires June 30, 2013." [2011 1st sp.s. c 48 § 7038.]

     Effective dates -- 2011 1st sp.s. c 48: "This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect immediately [June 15, 2011], except for sections 7022 through 7025 and 7027 of this act which take effect July 1, 2011." [2011 1st sp.s. c 48 § 7039.]

     Findings -- Intent -- 2007 c 506: See note following RCW 43.82.035.

     RCW 39.35B.050
Life-cycle cost model and analysis -- Duties of the office of financial management. (Effective June 30, 2013.)

The office of financial management shall:

     (1) Design and implement a cost-effective life-cycle cost model by October 1, 2008, based on the work completed by the joint legislative audit and review committee in January 2007 and in consultation with legislative fiscal committees;

     (2) Deploy the life-cycle cost model for use by state agencies once completed and tested;

     (3) Update the life-cycle cost model periodically in consultation with legislative fiscal committees;

     (4) Establish clear policies, standards, and procedures regarding the use of life-cycle cost analysis by state agencies including:

     (a) When state agencies must use the life-cycle cost analysis, including the types of proposed capital projects and leased facilities to which it must be applied;

     (b) Procedures state agencies must use to document the results of required life-cycle cost analyses;

     (c) Standards regarding the discount rate and other key model assumptions; and

     (d) A process to document and justify any deviation from the standard assumptions.

[2007 c 506 § 3.]

NOTES:

     Findings -- Intent -- 2007 c 506: See note following RCW 43.82.035.