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1
Asset Management Policy
POLICY NO. 92
ASSET MANAGEMENT POLICY
1.0
POLICY STATEMENT
1.1
The Municipality will protect and enhance the quality of life by making the best
possible decisions regarding assets in a way that provides targeted levels of
service and manages risk in a cost-effective manner throughout the entire asset
life cycle in order to create customer value through enhancing community asset
management. The Municipality will manage infrastructure assets with a strategic
approach, based on continuous improvement with the goal of improving overall
infrastructure.
2.0
PURPOSE
2.1
The Municipality is dedicated to the development and maintenance of its entire
asset inventory in order to provide residents with sustainable, reliable services,
are regulatory compliant, and ensure assets will serve for their designated life.
This policy demonstrates a commitment to the stewardship of the Municipality
capital infrastructure assets and to improved accountability and transparency.
This policy will support the Municipality in focusing its infrastructure efforts on
managing risks, addressing priorities, and meeting short and long-term needs
within the bounds of possible funding.
3.0
VISION
3.1
Barrington Municipality is a community shaped by the sea that provides an
ocean of opportunity to live, work and play.
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Asset Management Policy
4.0
MISSION
4.1
Council and staff will work together in an efficient, effective and professional
manner to provide municipal services that meet the needs of our residents to
enhance and maintain the quality of life in our community.
4.2
Council and staff will work together with citizens to:
4.2.1 Encourage economic growth of the industrial, commercial and tourism
industries in order to maximize employment opportunities and related
benefits for our residents.
4.2.2 Create an environment that provides residents with an adequate choice
of accommodations options
4.2.3 Maintain adequate quality of air and water supplies for domestic,
industrial and commercial and recreational use of our residents
4.2.4 Ensure residents have access to adequate recreational and cultural
facilities and activities
4.2.5 Provide access to adequate local community health care facilities
4.2.6 Improve access and awareness of our natural assets including our
beaches, forests and the ocean.
5.0
STRATEGIC ALIGNMENT
5.1
The Municipality will follow an Integrated Approach to successfully develop a
practical Asset Management Plan that align with the overarching accountabilities
and aspirations of the community. This policy will endeavor to work in concert
with Council strategic direction and related plans and policies which impact on
scope.
5.2
The Council will review this policy and incorporate it into the asset management
planning approach that fosters the integration of municipal documents such as
the Strategic Plan, Municipal Planning Strategy and the Climate Change
Adaptation Plan.
6.0
GUIDING PRINCIPLES
6.1
The key guiding principles for planning, and investment of the Asset
Management Policy in line with the Municipality's Vision and Mission are the
following:
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Asset Management Policy
6.1.1 Customer focused: The Municipality will have clearly defined levels of
service and apply asset management practices to maintain the
confidence of customers in how municipal assets are managed.
6.1.2 Service focused: The Municipality will consider all the assets in a service
context and take into account their interrelationships as opposed to
optimizing individual assets in isolation.
6.1.3 Holistic: Taking a comprehensive approach to asset management that
looks at the 'big picture' and considers the combined impact of managing
all aspects of the asset lifecycle
6.1.4 Value-based affordable: The Municipality will choose practices,
interventions and operations that aim at reducing the lifecycle cost of
asset ownership, while satisfying agreed levels of service. Decisions are
based on balancing service levels, risks, and costs
6.1.5 Systematic: Adopting a formal, consistent, repeatable approach to the
management of infrastructure assets, will enable services to be provided
in the most cost-effective manner.
6.1.6 Fact Based Decision Making: Uses of a formal but flexible, consistent,
and repeatable approach to cost effectively manage the infrastructure
assets
6.1.7 Sustainable: Make the appropriate decisions and provisions to better
enable its' assets to meet future challenges, including population growth,
customer expectations, legislative requirements, technological and
environmental factors, without compromising the ability of future
generations to meet their own needs.
6.1.8 Forward Looking: Making the appropriate decisions and provisions to
better enable our assets to meet the challenges of future citizen
expectations, legislative requirements and climate change.
6.1.9 System Focused: Considering the assets in their asset system context, in
terms of the different assets and their interrelationships, as opposed to
optimizing individual assets in isolation.
7.0
FINANCIAL PRACTICES
7.1
The Municipality will integrate findings from the Asset Management Plan into its
long-term financial planning and budgeting processes. The department level
budget submission prepared by each service area will be evaluated by
administration in the preparation of the municipal annual budget. The asset
management plan will be referenced in the preparation of the budget
submission to help :
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Asset Management Policy
7.1.1 Identify all potential revenues and costs (including operating,
maintenance, replacement, and decommission) associated with
forthcoming infrastructure asset decisions;
7.1.2 Evaluate the validity and need of each significant new capital asset,
including considering the impact on future operating costs; and
7.1.3 Incorporate new revenue tools and alternative funding strategies where
possible.
7.2
For the purposes of managing water/wastewater assets, financial plans will be
used as a basis for establishing user fees, and will be referenced in order to
ensure alignment with the budgeting process.
8.0
GOVERNANCE AND CONTINUOUS IMPROVEMENT
8.1
Council's annual asset management review will be completed in order to
continuously improve and review the current progress. It will include:
8.1
Progress on ongoing efforts to implement the asset management plan;
8.2
Consideration of the asset management policy;
8.3
Any factors affecting the ability of the Municipality to implement its asset
management plan and a strategy to address these factors including the
adoption of appropriate practices.
8.2
Council, having stewardship responsibility, is the final decision maker on all
matters related to Asset Management in the Municipality the Council and Chief
Administrative Officer are committed to the success of Asset Management
Planning. The development and continuous support of the Municipal Asset
Management Plan requires a wide range of duties and responsibilities. Within
asset management planning, the following stakeholders have been defined for
the tasks listed:
8.2.1 Council
8.2.1.1 Develop policy and policy updates;
8.2.1.2 Approve the Asset Management Policy and direction of the
Asset Management Plan and its updates every five years;
8.2.1.3 Conduct annual reviews of Asset Management Plan
implementation progress on or before October;
8.2.1.4 Maintain adequate organizational capacity to support the core
practices of the Asset Management Plan;
8.2.1.5 Prioritize effective stewardship of assets in adoption and
ongoing review of budget; and
8.2.1.6 Monitor levels of service.
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Asset Management Policy
8.2.2 Chief Administrative Officer
8.2.2.1 Responsible for facilitating Asset Management Planning across
the Municipality and maintaining compliance with the
regulation;
8.2.2.2 Provide corporate oversight to goals and directions and ensure
the Asset Management Plan aligns with the Municipality's
Strategic Plan;
8.2.2.3 Ensure that adequate resources are available to implement and
maintain core Asset Management practices;
8.2.2.4 Ensure Asset Registers are kept up-to-date regarding the
condition, creation /acquisition, maintenance, renewal,
refurbishment and disposal of assets;
8.2.2.5 Establish and monitor levels of service; and
8.2.2.6 Track, analyze and report on Asset Management Plan progress
and results.
8.2.3 Asset Management Committee
8.2.3.1 Facilitate in carrying out activities as per the Asset Management
Plan;
8.2.3.2 Establish and monitor levels of service;
8.2.3.3 Provide support and direction for Asset Management Plan;
8.2.3.4 Track, analyze and report on Asset Management Plan progress
and results.
9.0
POLICY DIRECTION
Action Item
Responsible
Due Date
Ensure Asset Registers are kept up-to-date regarding the
condition, creation /acquisition, maintenance, renewal,
refurbishment and disposal of assets
CAO/Asset
Management
Committee
Ongoing
Maintain Council's basic understanding of asset
management and governance roles
Council
Annually
Measure and compare the goals and desired outcomes
stated in asset management plan against what was
achieved
Council
Annually
Address and investigate failure in plan implementation
and reactive measures
CAO
Ongoing
Reporting progress of asset management plan to the
Council and Government (as and when required)
CAO
Annually
Update the Asset Management Plan
Council
2024/2025
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Asset Management Policy
10.0
STAKEHOLDER ENGAGEMENT
10.1
The Municipality recognizes the residents, businesses, provincial agencies and
regulated utilities as an integral part of the asset management approach. The
Municipality may engage with stakeholders by:
10.1.1 Providing sufficient information and education for stakeholders to make
an informed decision.
10.1.2 Providing opportunities for residents and other stakeholders served by the
Municipality to provide input in asset management planning; and
10.1.3 Coordinating asset management planning with other infrastructure asset
owning agencies such as municipal bodies and regulated utilities.
11.0
CLIMATE CHANGE
11.1
The Municipality will address the risks and vulnerabilities of municipal
infrastructure assets to climate change and the actions that may be required
including, but not limited to, adaptation opportunities and mitigation
approaches as per Climate Change Adaptation Plan.
12.0
CONSEQUENCES OF NON-COMPLIANCE
12.1
Failure to adhere to this policy may result in:
12.1.1 The risk that the Municipality is not investing in the asset infrastructure it
manages at the most optimal times in the asset's lifecycle. This risk
potentially compromises the safety and service delivery provided by the
infrastructure owned and managed by the municipality.
12.1.2 The risk of sub-optimal planning of growth, maintenance and
replacement of existing assets and the development of new assets.
12.1.3 The risk of compromising the alignment of strategic plan and asset
management plan which may lead to lack of expenditure optimization
and reduced level of service.
13.0
REVIEW PERIOD
13.1
This policy will be reviewed, if necessary, updated at least every five (5) years
from its effective date.
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Asset Management Policy
Clerk's Annotation for Official Policy Book
Date of Notice to Council members of Intent to Consider
October 11, 2022
Date of Passage of current Policy
October 25, 2022
I certify that this Policy No. 92 "Asset Management Policy" was adopted by
Council as indicated above.
____________________________________ _________________________
Lesa Rossetti Date
Municipal Clerk
VERSION LOG
Version
Number
Amendment Description
Approved By
Approval Date
1
Approved Policy of Council
Council
October 25, 2022