2025 Asset Management Plan

We are currently updating our Asset Management Plan as required by Ontario Regulation 588/17, which mandates municipalities to regularly review and enhance their strategies for providing essential services through the management of their assets.

An asset management plan (AMP) is a strategic document outlining how a group of assets will be managed over time, detailing their characteristics, condition, expected service levels, planned actions, and financing strategies. It helps organizations prioritize essential services, align community needs with available resources, and ensure sustainable service delivery through effective asset management, regulatory compliance, and appropriate funding. As part of the 2025 Asset Management Plan, Proposed Levels of Service for asset classes within the City's service areas must be identified.

Your feedback is essential in shaping the Proposed Levels of Service for each asset class. We want to know how satisfied you are with the assets that are used to deliver services and your priorities for future investment in these assets.

Our Asset Management Plan Journey

1. Understanding Our Current Assets & their Service Level

   • We assess how well our current infrastructure (like roads, facilities, stormwater network, and parks) is serving the community.

   • We gather data on the inventory, characteristics, condition, replacement value and current level of service of the asset classes within each service area.

   • This information is captured in our 2022 and 2024 Asset Management Plans.

2. Listening to You:

   • Your feedback is crucial! We are conducting a survey, council workshops, providing a question forum, and attending Council and Committee meetings to understand your satisfaction with current levels of service of each asset class, and what improvements you’d like to see to aid in Council's decision making on capital spend in the future.

   • This is where we currently are.

3. Setting Future Goals (Proposed Levels of Service):

   • Based on your feedback, our assessments, and aligned with Council's strategic priorities, Council will define the proposed levels of service for each service area within the Asset Management Plan, aiming to meet the needs of the community. These levels of service will help identify where capital dollars should be spent.

4. Comparing Now and Future:

   • Currently, we face a funding gap in maintaining our current levels of service. This means we need more resources to continue providing these services at the same level.
     

   • We will compare our current levels of service with the proposed future levels of service to identify gaps and areas needing improvement.

   • We figure out the resources, investments, and actions required to bridge these gaps. This analysis will be found in the financing strategy of the 2025 AMP.

5. Creating an Action Plan:

   • We will develop a fluid long-term plan within the 2025 AMP which will aim to meet the proposed levels of service, including lifecycle activities, funding requirements, potential sources of funding, and timelines.

6. Keeping You Updated:

   • We will regularly report on our progress towards the proposed levels of service at Council and Committee meetings and on our website.

   • We will review and update our asset management plan yearly to reflect any changes in community needs, asset conditions, and the progress made in reaching the proposed levels of service.
     

By following these steps, we strive to ensure that our infrastructure meets both your current and future needs in a financially sustainable manner. Your support and feedback are vital to this process.