RCW 39.35B.050Life-cycle cost model and analysis—Duties of the office of financial management.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 s 3; (2011 1st sp.s. lyses;(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 s 3; (2011 1st sp.s. c 48 s 7005 expired June 30, 2013).]NOTES:Expiration date—2011 1st sp.s. c 48 s 7005: 'Section 7005 of this act expires June 30, 2013.' [ 2011 1st sp.s. c 48 s 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 s 7039.]Findings—Intent—2007 c 506: See note following RCW 43.82.035.
Washington Legal Code