Asset Management Plan

The Township Asset Management Plan (AMP) is a first step in building an overall infrastructure plan. This "living document" is used as a guide for municipal infrastructure investment.

Format

The AMP is set up in a format that is consistent with the Ministry of infrastructure guidelines which includes:

• Introduction
• State of local Infrastructure and Levels of Service
• Lifecycle Management Strategies
• Financial Strategy
• Recommendations and Next Steps

Updates

Township staff from various departments will update the AMP as new information is available.

Updates include

• On-going condition assessments
• Revised costing
• Purchases and disposal of capital assets.

We are expanding the AMP to include additional asset categories, in accordance with Federal Gas Tax funding requirements. Updates will be available throughout the year.

Policy

Asset Management is a broad strategic framework that encompasses many disciplines and involves the entire organization. The term asset management as used in this document is defined as the application of sound technical, social and economic principles that considers present and future needs of users as well as the service from the asset. Asset Management aims to leverage the lowest total lifecycle cost of ownership with appropriate regard for required service level that best meet the needs of the community and an understanding about an acceptable risk of failure.

Corporate Asset Management Policy