Asset Management Policy

Quispamsis, New Brunswick · adopted 2018-12-12

This is the exact embedded text of the captured official document. Snapshot d03a69e8fb20 · verified 2026-06-07 · original document · archived snapshot · unofficial consolidation, the official version is held by the municipal clerk.

1 of 4 ASSET MANAGEMENT POLICY Town of Quispamsis Date: December 12, 2018 Version: 1.0 1. CONTEXT The Town of Quispamsis relies on its municipal infrastructure and assets to deliver services to its community at the levels expected by stakeholders. To provide these services sustainably and reliably, the Town must continually balance expenditures, services, and risks across its asset portfolio. Asset Management (AM) is an integrated approach, involving all Town departments, to effectively plan for and manage existing and new infrastructure assets. The importance of municipal services to the well-being of community stakeholders is what drives the implementation of a structured approach to asset management. The Town of Quispamsis is committed to creating, implementing and continually improving an asset management program to achieve the Town's strategic objectives and ensure municipal services are sustainably provided for generations to come. 2. PURPOSE The asset management policy aims to: - Provide leadership and commitment to asset management; - Communicate the management approach and principles endorsed by the Town; - Provide transparency and demonstrate to stakeholders the legitimacy of decision-making processes by considering costs, service levels and risks. - Provide a framework for the implementation of an asset management program. - Provide awareness of what the Town regards as good asset management practice and sets strong and clear expectations. 3. OBJECTIVES Specific objectives of the AM policy are to: - Improve the reliability of customer service by maintaining clearly defined levels of service. - Improve the decisions related to the management of the Town's assets. - Improve the transparency and accountability of investments in the management of the Town's assets. - Improve the management of the Town's exposure to risks of reduced service delivery. - Facilitate the leveraging of partnerships and infrastructure funding from external sources. 2 of 4 4. SCOPE Assets This policy applies to all assets owned and operated by the Town. This includes, but is not limited to, the following asset types: - fleet, - facilities, - recreation (arenas, playgrounds, sports fields, etc.), - transportation (roads, sidewalks, traffic control, guiderails, etc.) - stormwater (culverts, conduits and leads, etc.), - potable water (water pipes, water treatment and pumping facilities, etc.), and - wastewater (sewer pipes, wastewater treatment facilities, etc.). In addition to the assets owned and operated by the Town of Quispamsis, the Town shall coordinate with its Regional Services (KV Fire, KV Police, and KV Library) to include their assets (fleet, facilities and equipment) in asset management planning activities. Activities This policy applies to all activities which directly or indirectly impact the management of Town assets. 5. DIRECTION To achieve the objectives of this policy, Town staff shall: - Adopt and apply recognized asset management practices in support of delivering services. - Keep Council and the Public informed about the current state of Town infrastructure and long-term financial trends. - Prepare and update annually an asset management plan to formalize asset management planning and satisfy provincial reporting requirements. - Consider the asset management plan in the preparation of the Town's budget or long-term financial plans. - Coordinate planning for asset management, where municipal infrastructure assets connect or are interrelated with those of neighbouring municipalities or jointly-owned municipal bodies. - Consider and integrate other organization plans into the development of the asset management plan. - Provide opportunities for municipal residents and other interested parties to provide input into the municipality's asset management planning. 6. SUPPORTING REFERENCES The Town's asset management planning shall be aligned with the following municipal goals, policies or plans: 3 of 4 - Town of Quispamsis Municipal Plan (By-Law 054) Additionally, the Town's asset management planning shall be aligned with the following provincial goals, policies or plans: - Schedule F of the Administrative Agreement on the Federal Gas Tax Fund between the Government of Canada and the Government of New Brunswick 7. PRINCIPLES The Town shall consider the following principles as part of its asset management planning. The Town will update these principles as part of its regular policy review to ensure asset management planning practices are continually improving and meet the recognized industry standards. - Incorporate industry recognized asset management practices. - Develop clearly defined current and desired levels of service. - Monitor asset performance and service delivery. - Apply objective and reliable decision-making processes. - Utilize lifecycle costing principles. - Understand and manage asset risks, including those influenced by climate change. 8. ROLES AND RESPONSIBILITES The Town shall adopt the following governance structure to ensure asset management practices are implemented within the organization. Figure 1 - AM Governance Structure 4 of 4 To apply asset management throughout the organization, the following roles are identified for Council, the Chief Administrative Officer, and the AM Champion: a. Council i. Adopt, revise and update the AM Policy as required. ii. Authorize the Town's Chief Administrative Officer (CAO) to implement an asset management program. iii. Provide direction and a "vision" for the Town establish clearly defined levels of service through the use of strategic and master plans. iv. Approve asset funding through multi-year and long-term financial plans. b. Chief Administrative Officer (CAO) i. Direct Town staff to implement and maintain an asset management program. ii. Ensure staff are provided with sufficient resources (staff, tools, training, etc.) to achieve the objectives of the AM Policy. b. AM Champion i. Chair the AM Steering Committee ii. Report on the progress, capacity and effectiveness of the asset management program to the CAO. Additional details regarding the roles and responsibilities of the AM Steering Committee, AM Implementation Teams and AM Support Groups are detailed within the AM Strategy. 9. MONITOR AND REVIEW This Policy will be reviewed every 5 years, and as determined by the Chief Administrative Officer. 10. IMPLEMENTATION This Policy will be implemented under the authority of the Chief Administrative Officer. 11. AUTHORIZATION This Policy shall be authorized by the Chief Administrative Officer pursuant to a resolution of Council approving the "Asset Management Policy". 12. INQUIRIES Inquiries regarding this Policy can be addressed to the Town's AM Champion.