Asset Management

Asset management is a municipality’s approach to minimizing the lifecycle costs of owning, operating, and maintaining infrastructure, while managing risk and ensuring consistent levels of service for both current and future residents.

The Asset Management Policy (AMP) provides a detailed inventory and analysis of municipal assets, including their estimated useful life, historical and replacement costs, location, and current condition. This information is essential for long-term financial planning, supporting budget preparation, and guiding decisions on when assets should be replaced or upgraded.

A well-developed AMP is also required for municipalities to qualify for most government funding programs.

Asset Management Addendum Report

The below addendum report has been developed to address the July 1, 2022 requirements of O. Reg. 588/17 that were not covered in the Township’s 2016 Asset Management Plan.

The objective of the Addendum Report is to bring the Township into compliance with the July 2022 requirements of Ontario Regulation (O. Reg.) 588/17. The Township’s core assets can be broadly grouped into the following asset classes:

• Roads;
• Bridges and structural culverts;
• Water treatment, pumping, and distribution;
• Wastewater treatment, pumping, and collection; and
• Stormwater treatment and collection.

Asset Management Plan Addendum - Core Assets (930 KB)