Financing for Environmental Compliance
Planning Process Step Two: Conduct a Needs Analysis
An inventory of current system costs, future capital asset needs, and associated costs is critical to the creation of a credible financing plan. Without reasonably accurate data the financing plan is meaningless. Questions to resolve include:
- How much does it cost to operate and monitor the current capital asset?
- Will the system need to be upgraded to meet future local, state and federal requirements? EPA maintains a database of proposed regulations.
- What work will need to be done?
- What technology is currently available? EPA maintains the Office of Water database of water technology fact sheets.
- What is the estimated construction or implementation period?
- Will additional staff be necessary to operate the new/upgraded asset?
- How much will it cost to complete the project?
- What financial resources are available? Is there a funding gap?
- When will the money be needed?
- How will the work, when completed, meet regulatory requirements and maintain compliance?
Next Step: Define Project Goals
Previous Step: Assemble a Team