Asset Management Plan
Deep River, Ontario
This is the exact embedded text of the captured official document.
Snapshot 225960ab087a · verified 2026-06-09 ·
original document ·
archived snapshot ·
unofficial consolidation, the official version is held by the municipal clerk.
Phone: 613-584-2000 - Fax: 613-584-3237 - [email protected]
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# Asset Management Plan
Asset management is the art and science of balancing the **relationship between money, risk, and performance** in businesses that depend on physical assets for success. It is a **proactive lifecycle approach** to reducing build, operation, and maintenance costs and risks. This is achieved by:
* Maintaining and/or replacing capital assets using models of the best economy.
* Taking a **system-level, whole-life, whole-cost perspective** rather than a part-specific perspective
* **Managing risks** rather than specific resources
* Providing **clarity and evidence in our decision-making** so that our stakeholders understand the choices we made
The concept of asset management in the Town of Deep River has expanded and progressed over the Town's history. Council and staff have long regarded the long-term management of assets as critical; the formalization of integrated asset management practices was initiated in the early to mid-2010s. The Town's first asset management plan was adopted in 2016, followed by a Strategic Asset Management Policy in 2019.
Ontario Regulation 588/17 is a provincial regulation under the *Infrastructure for Jobs and Prosperity Act of 2015.*The Act is intended to help address the large-scale problem of aging municipal infrastructure and funding shortfalls by promoting better asset management planning at the local government level. The regulation required all municipalities to have an Asset Management Policy adopted in 2019 and an Asset Management Plan for Core infrastructure adopted by July 1st, 2022.
The Town of Deep River Council adopted the *Deep River Asset Management Plan 2022 (Core Assets)* on June 29th, 2022, and an extension of the plan for non-core assets on October 24, 2024. The AMP is a dynamic, guiding document that will be used in coordination with the Town's Strategic Plan, Financial Master Plan, Official Plan, and other long-range planning documents for long-term Operational and Capital budgeting and overall management of the Town's infrastructure.
Read the *Deep River Asset Management Plan 2022 (Core Assets)*here: Deep River Asset Management Plan 2022 (Core Assets)
Read the *Deep River Asset Management Plan 2024 (Non-core Assets)* here*:* Deep River Asset Management Plan 2024 (Non-core Assets)
Read the *Deep River Strategic Asset Management Policy* here: Strategic Asset Management Policy
The *2016 Asset Management Plan* is provided for reference here: Archived 2016 Asset Management Plan
## Projects
2026 BudgetTreesMunicipal Projects & Community EngagementMunicipal Plans Tenders, Proposals and Bids Grants & Funding
The Corporation of the Town of Deep River
100 Deep River Road, P.O. Box 400, Deep River, ON K0J 1P0
P: 613-584-2000 - F: 613-584-3237
[email protected]
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