Asset Management

Asset Management

Asset Management is an integral part of the Town’s capital asset and infrastructure management planning. It allows the Town to plan for long term capital planning and annual preventative maintenance.

In 2014, the Town had Hemson Consulting prepare an Asset Management Plan for linear infrastructure (roads, water, wastewater). In 2016, the Town had Hemson Consulting prepare an Asset Management Plan for non-engineering assets. As of January 1, 2017 each municipality in Ontario is required to have a full asset management plan to continue to receive Federal Gas Tax funding. A full Asset Management Plan supplies staff with the appropriate information to make informed recommendations to Council.

This Asset Management Plan will assist the Town in taking a responsible and sustainable approach to asset management. The Town’s hard assets includes buildings, equipment, roads, vehicles, water, wastewater, storm water networks, and machinery, etc. Soft assets include things such as software, furniture, and planning studies. All of these assets will eventually need to be replaced.

The Town’s Asset Management Plan reflects the Town's commitment to accessibility and accountability and focuses on the governance of municipal infrastructure and how tax dollars are invested in the future. The Town has also created a Capital Asset Replacement Reserve, which will help with the funding of future capital projects. This reserve was created to ensure that the Town can afford to replace and renew future capital assets. The Town invests roughly $275,000 each year into this fund.
 

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