New Jersey Statutes Title 58. Waters and Water Supply 58 § 31-8

(1) a comprehensive inventory, mapping, and evaluation of the condition of the public community water system's following asset classes: transmission and distribution piping, valves, service lines, hydrants, water treatment plant facilities, and water supply facilities including wells, reservoirs, and intakes;

(2) level of service goals for the public community water system, based upon industry standards such as those established by the American Water Works Association, which may include, but need not be limited to, goals related to customer service and accountability, energy and water efficiency and conservation, water main breaks and service interruptions, and social and environmental considerations;

(3) a priority order in which the public community water system's assets, identified in the comprehensive inventory prepared pursuant to paragraph (1) of this subsection, will be repaired or replaced as part of the water purveyor's asset management plan, based on each assets' importance to the proper function of the public community water system, or business risk exposure; and

(4) a long-term funding strategy to implement the water purveyor’s asset management plan, including funding sources and estimated annual expenditures to address prioritized repairs, upgrades, and treatment.