On January 1, 2018, Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure came into effect. This regulation sets out requirements for municipal asset management planning to help municipalities better understand their infrastructure needs and inform infrastructure planning and investment decisions.
The regulation sets out a 'phased introduction' to meeting these objectives:
- Phase I: Involves core assets such as Water, Wastewater, Stormwater, Roads, Bridges and Culverts by July 1, 2022;
- Phase II: Involves All Municipal Assets by July 1, 2024;
- Phase III: Involves proposed levels of service and lifecycle management and financial strategy by July 1, 2025.
In 2019, Council adopted a new Asset Management Policy and Strategy as the founding pieces of a new way forward in looking after our assets. The objective of developing the Plan was to:
• Develop Community and Technical Levels of Service for each asset group;
• Compile condition data;
• Determine the state of the infrastructure;
• Develop a financial strategy to meet the short and long term desired levels of service;
• Determine staffing and software needs to properly undertake a new way of managing our assets
The Town is now diligently working to implement these new philosophies as part of our Corporate Strategy; to have Sustainable Infrastructure for the Future. To this end, residents can now access a host of materials related to this initiative.
