Recent catastrophic breaks in water mains and sewer discharges during storms are indicators of the nations old and deteriorating water and wastewater infrastructure. EPA estimates that small water utilities -- those serving fewer than 10,000 people--may need about $143 billion for drinking water and wastewater infrastructure repairs and replacement over 20 years. EPA and USDA provide the three largest sources of federal funding for water infrastructure. In a March 2004 report, the United States Government Accountability Office (GAO) found that water utilities may benefit from implementing asset management -- a tool used across a variety of sectors to manage physical assets, such as roads and buildings. This book examines what is known about the use of asset management among the nations water utilities -- particularly small water utilities -- including benefits and challenges and steps EPA and USDA are taking to help small water utilities implement asset management.