Asset Management

On July 17, 2019, the Township passed a Strategic Asset Management Policy (SAMP) that provides a framework for asset management planning.

The policy outlines goals, policies, and plans supported by the asset management plan, the process by which the asset management plan is considered in developing the municipality’s budget and approach to continuous improvement and adopting appropriate practices regarding asset management planning.

Strategic Asset Management Policy

On March 23, 2022, Council approved the Asset Management Plan (AMP) for the Township’s core assets, prepared in accordance with the Province's requirements. The AMP includes:

• A summary of municipal infrastructure core assets (roads, bridges and culverts, water) along with information concerning asset age, historical cost, and replacement cost
• A condition assessment and description as to the approach adopted for assessing the condition of core infrastructure assets
• A description of the current level of service provided by the Township as outlined by O. Reg. 588/17
• An assessment of the Township's anticipated life cycle maintenance requirements over a ten-year period, based on the Township maintaining the current levels of service
• An indication as to how the ongoing growth of the Township is considered in the asset management plan

Asset Management Plan - Core Assets (March 2022)

On June 23, 2024, Council approved the updated Asset Management Plan for all municipal infrastructure assets. The AMP includes:

• An updated summary of municipal infrastructure core assets (water, urban stormwater and drainage systems, roads, bridges and culverts) along with information concerning current asset condition, levels of service (LoS) lifecycle activities, and a 10-year financial outlook
• A summary of municipal infrastructure non-core assets (buildings, vehicles, equipment, and land improvements) along with information concerning the current asset condition, Levels of service (LoS), and projected lifecycle activities
• A 10-year financial strategy for core and non-core assets

The AMP was developed by Township staff with assistance being provided by KPMG LLP and identifies current levels of service and the cost of maintaining those levels of service.

2024 Asset Management Plan

The next phase of the Township’s AMP will need to identify proposed levels of service for the coming 10 years (2025-2034) for all municipal infrastructure asset classes (core and non-core) and update the funding strategy to fund these activities.

The requirements of this phase will need to be completed on or before July 1, 2025.