Asset Management Policy — full text

This is an automated transcription (OCR) of the captured official document — minor recognition errors are possible; the source document governs. Snapshot 354f46436f49 · verified 2026-06-05 · original document · archived snapshot · unofficial consolidation, the official version is held by the municipal clerk.

POLICY TITLE: ASSET MANAGEMENT POLICY POLICY NUMBER: VERSION NUMBER: 2 DATE APPROVED: OCTOBER 25, 2021 EFFECTIVE DATE: OCTOBER 25, 2021 ## 1. PURPOSE This asset management policy formalizes The Town of Westville commitment to long term planning and provides guidance to Council and staff on identifying priorities, managing risks and meeting its service delivery goals. This asset management policy provides The Town of Westville with a consistent framework for decision-making which considers strategic plans, budgets, service levels and risks. It is the intention of this policy to survive its current and future Council. ## 2. STRATEGIC ALIGNMENT Town Council and senior management will review this policy and incorporate it into the asset management planning approach that ensures integration of municipal documents such as: - Town of Westville Strategic Plan - Town of Westville Economic Development Strategy - Municipal Climate Change Action Plan - Town of Westville By-laws - Westville Sanitary Sewer Assessment (February 2014) - Westville Water System Assessment (March 2013) · Westville Municipal Standard Specifications (2016) ## 3. SCOPE The scope of this policy is to include all assets owned in its respective entirety by the Town of Westville, including: - Town sanitary sewer collection system - Town municipal water distribution system - Town sidewalks - Town streets including signage - Town storm sewer / storm water collection system - Buildings - Parks and Trails ## · All Operational Equipment The scope of this policy does not include assets not owned in its respective entirety by the Town of Westville, including, but not necessarily limited to: - Sanitary sewer treatment plant - Municipal water treatment plant - Glen Haven Manor - Pictou County Solid Waste - Westville Arena - Library This policy will be reviewed three (3) years immediately following implementation. ## 4. GUIDING PRINCIPLES ## 4.1 Service Delivery to Customers The Town of Westville will have clearly defined levels of service and apply asset management practices to maintain the confidence of customer in how the Town's assets are managed. These defined levels of service shall strive to balance community expectations and regulatory requirements with risk, affordability, and available resources. ## 4.2 Holistic Approach The Town will consider all assets in a service context and take into account their inter relationships as opposed to optimizing individual assets in isolation. ## 4.3 Long Term Sustainability and Resilience The Town of Westville's asset management decision-making will consider the needs of both current and future generations and potential challenges associated with changing community demographics and expectations related to service delivery. It shall also consider socio-cultural, environmental and economic factors, and implications when making and implementing asset management decisions. ## 4.4 Fiscal Responsibility and Asset Management Decision-Making The Town will choose practices, interventions and operations that aim at reducing the lifecycle costs of asset ownership, while satisfying agreed levels of service. Decisions are based on balancing service levels, risks and costs. ## 4.5 Continuous Improvement To ensure Council is supported in making well-informed decisions based on good information and are advised, the Town of Westville commits to: - Supporting asset management awareness and training for staff and Council in accordance with their respective roles and responsibilities; - Progressing in the asset management process, and; - The integration of asset management systems. ## 5. ROLES AND RESPONSIBILITIES: Council is responsible for: - Approving asset management policy - Articulating community values - Approval of funding and resources to implement the asset management policy and associated requirements - Approval of asset funding through multi-year and long-range financial plans The CAO is responsible for leading implementation of the asset management policy across the Town. Department Managers are responsible for leading the adoption of the asset management policy within their departments and for allocating appropriate resources to its implementation and associated requirements. All Staff involved in the application of asset management are responsible for observing the requirements of the asset management policy. ## 6. ASSET MANAGEMENT COMMITTEE ## 6.1Terms of Reference Purpose: To monitor progress on our Town's Asset Management Roadmap / Work Plan which includes but is not limited to: - Promoting awareness of the Town's commitment to Asset Management. - Promoting awareness of the Work Plan activities among departmental staff. Recommending (or assigning) responsibilities and timelines for Work Plan activities. - Making recommendations on allocation of resources (eg. staff and budget) to implement the Work Plan. - Recommending amendments to the Work Plan or additional activities to support integration to good Asset Management practices for the Town. - Monitoring and reporting progress on activities and timelines. Committee Composition: The Committee Chair shall be the CAO or designate as necessary. Other Committee members will include the Town's Superintendent of Public Works, Town Engineer, and a minimum of one (1) member of Town Council. Meetings: The committee will meet quarterly with a minimum of 2 meetings per year. Authority and Reporting: Written minutes will be prepared at each meeting and circulated to all Committee Members and Town Council which will document progress to date on each activity in the Work Plan. The Committee receives its authority from the Town Council and will report to Town Council on progress every six (6) months. ## VERSION LOG Committee | Version Number | Amendment Description | Approved By | Approval Date | |------------------|-------------------------|---------------|-------------------| | 1 | N/A | Council | February 25, 2019 | | 2 | Composition of | Council | October 25, 2021 | ## ANNOTATION FOR OFFICIAL POLIcY BOOK This is to certify that the foregoing is a true and accurate copy of the Town of Westville's Asset Management Policy, which was adopted by Council at its duly convened meeting held 25t day of October, 2021.   November 15/202, Date tinda N. S. Brown Chief Administrative Officer Town of Westville