A slip ring assembly includes a housing having a stator that rotatably supports a rotor. The rotor includes conductive disks that are electrically connected to respective conductors extending through a rotor shaft. The stator includes brushes that slidably and electrically engage the conductive disks. The one or more brushes are electrically connected to stator conductors extending at least partially through the stator. Electrical pathways are defined and extend from the stator conductors, the brushes, the conductive disks, and the respective conductors in the shaft. A smart board is connected to the stator and includes electronic components configured to monitor operation of the slip ring assembly and provide signals to an external source. The smart board is electrically connected to, and powered by, electrical power that is present and available on the stator conductors.