By implementing an Asset Management Plan, the Township can meet new demands in a financially accountable framework while preserving the Township's quality of life.Ontario Regulation 588/17 entitled, "Asset Management Planning for Municipal Infrastructure" requires municipalities to upgrade their asset management plans in a number of prescribed areas over a 6-year phase in period. As of July 1, 2019, all municipalities had to adopt a strategic asset management policy to serve as a guide in the preparation and maintenance of the Asset Management Plan.
| Strategic Asset Management Policy |
| The purpose of the Strategic Asset Management Policy is to provide a framework for the development and implementation of the Township’s asset management program. It is intended to guide the consistent use of asset management across the organization, to facilitate logical and evidence-based decision-making for the management of municipal infrastructure assets and to support the delivery of sustainable community services now and in the future.
By using sound asset management practices, the Township will work to ensure that all municipal infrastructure assets meet expected performance levels and continue to provide desired service levels in the most efficient and effective manner. Linking service outcomes to infrastructure investment decisions will assist the Township in focusing on service driven, rather than budget driven, asset management approaches. This policy demonstrates an organization-wide commitment to the good stewardship of municipal infrastructure assets, and to be accountable and transparent to the community through the adoption of best practices regarding asset management planning. The Strategic Asset Management Policy was last reviewed and revised by Council on June 20, 2022. |
| Asset Management Plan (2022 Report) |
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The Asset Management Plan has been created in conjunction with the Roads Needs Study; the Ontario Structural Inspection Manual (OSIM) Report; the Glen Walter Master Servicing Plan; available CCTV Information; and known ages of water and sanitary assets. The plan is a process that allows for maintenance, upgrading, and operations of physical assets owned by the Township. The Asset Management Plan (2022) focuses on core asset categories that have an estimated replacement value of approximately $236,320,000 distributed as follows:
The Asset Management Plan was adopted by Council on July 4, 2022. As the Asset Management Plan is considered a living document, there are ongoing revisions to the 10-year capital budgets to meet current needs. |
| Asset Management Plan - Appendix E - 10-Year Capital Budgets |
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Appendix E of the Asset Management Plan (2022) includes the 10-Year Capital Plan for each Core Asset.
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