Appendix J ASSET SHARING GUIDELINES A.
Asset Sharing Policy
Objectives 1.
Through collaborative efforts between all Village Departments and other external
stakeholder groups (Park District, School District, County Government, etc…), Asset
Sharing
initiatives will be used to reduce asset redundancy and save money. 2.
To increase collaboration between both internal and external agencies and improve
productivity and organizational understanding. 3.
Asset Sharing efforts are limited to local, regional, state and federal taxing bodies
only, except as provided for specific outside groups with the approval of the Village Manager or designee. B.
Asset Sharing Considerations
Once an asset has been determined to be in need of replacement, the requesting department should follow the process outlined below as part of its regular evaluation. (This process would apply to new additions to the asset inventory as well). 1.
Identify potential sharing partners. a.
Can the asset be shared with another department within the Village or
outside agency? b.
Is the sharing of the asset appropriate and practical with type of asset and
the department/agency for which it will be shared? c.
Will the proposed partner be willing to share equally, or in part, the cost of
the asset being purchased as well as the long-term operational cost once acquired? 2.
Once a determination has been made that asset sharing is appropriate and practical,
and the parties have agreed to participate in such an engagement, an Intergovernmental Agreement (IGA), Letter of Understanding (LOA) or some other written agreement should be drafted or reviewed by the Village Attorney
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