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Hastings Highlands Finance Policy, Strategic Asset Management
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Bylaw 2019 - 063
June 2019
MUNICIPALITY OF
HASTINGS
HIGHLANDS
FIN-09 Finance Policy - Strategic
Asset Management
Hastings Highlands Finance Policy, Strategic Asset Management
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Table of Contents
Policy Statement.....................................................................................Page 3
Purpose................................................................................................Page 3
Scope...................................................................................................Page 4
Definitions..............................................................................................Page 4
Asset Management Objectives...................................................................Page 4
Responsibilities.......................................................................................Page 6
Legislative and Administrative Authorities.....................................................Page 7
Policy Review.........................................................................................Page 7
Hastings Highlands Finance Policy, Strategic Asset Management
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Municipality of Hastings Highlands
Policy Type: Finance
Policy Number: FIN-09
Policy Title: Strategic Asset Management Policy Approval Date: June 26, 2019
1.0
Policy Statement
The Municipality of Hastings Highlands is committed to managing Municipal
Infrastructure in a fiscally responsible manner that allows the Municipality to
achieve its goals, plans and policies.
The Municipality will adhere to the following:
-
Develop and maintain inventories of its Municipal Infrastructure;
-
Maintain and manage Municipal Infrastructure to support public safety,
community well-being and community goals;
-
Monitor standards and service levels to ensure that they meet and support
the Municipality's goals, plans and policies;
-
Establish asset replacement strategies using full-life cycle costing principles;
-
Plan financially for the appropriate level of maintenance of assets to deliver
service levels and extend the useful life of assets while meeting all statutory
requirements; and
-
Plan for and provide stable long term funding to replace and/or renew and/or
decommission Municipal Infrastructure.
The Municipality's Asset Management Plan will be considered annually in the
development of the Municipality's capital budgets, operating budgets and any
long term financial plans. The Treasurer will assume the lead role and be
responsible for the maintenance of and reporting on the activity related to the
management of municipal assets.
The Municipality will align all asset management planning with the Province of
Ontario's land-use planning framework, including any relevant policy statements
issued under section 3(1) of the Planning Act; shall conform with the provincial
plans that are in effect on that date; and, shall be consistent with all municipal
official plans.
2.0
Purpose
The purpose of this policy is to establish the Municipality's standards and
guidelines for the management of Municipal Infrastructure.
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This policy will be an important tool to guide how Council and Staff will interact
with the Municipality's corporate documents such as:
-
Community Strategic Plan
-
Asset Management Plan
-
Community Official Plan
-
Operational Plans and Budgets
This policy demonstrates an organization-wide commitment to the good
stewardship of infrastructure assets, and the adoption of best practices regarding
asset management planning.
3.0
Scope
This policy applies to all Municipal Infrastructure that is owned or managed by
Hastings Highlands.
4.0
Definitions
"Asset Management Plan" means a comprehensive plan that states how a group
of assets are to be managed over a period of time. The plan describes the
characteristics and condition of infrastructure assets, the levels of service
expected from them, planned actions to ensure the assets are providing the
expected level of service, and financing strategies to implement the planned
actions.
"Capitalization Thresholds" means the Municipality's Strategic Asset
Management Policy applies to all assets whose role in service delivery requires
deliberate management by the Municipality. The Service-focus intent of this
policy differentiates its requirements for identifying assets from the capitalization
thresholds which are developed for the purposes of financial reporting. For this
reason, the capitalization threshold developed for financial reporting will not be
the guide in selecting the assets covered by the asset management planning
process.
"Municipal Infrastructure" means municipal tangible capital assets primarily for
public use or benefit in Ontario.
5.0
Asset Management Objectives
The Municipality of Hastings Highlands will strive to incorporate the following
objectives whenever possible into the day to day operation of the Municipality.
Hastings Highlands Finance Policy, Strategic Asset Management
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Forward Looking
The Municipality shall take a long-term view while considering demographic and
economic trends in the region.
Budgeting and Planning
The Municipality shall take into account any applicable budgets or financial plans
when making decisions regarding Municipal Infrastructure.
Prioritizing
The Municipality shall clearly identify infrastructure priority infrastructure needs
that will drive investment decisions.
Economic Development
The Municipality shall promote economic competitiveness, productivity, job
creation, and training opportunities.
Transparency
The Municipality shall be evidence-based and transparent. Additionally, subject
to any prohibition under an Act or otherwise by law on the collection, use, or
disclosure of information, the Municipality shall make decisions with respect to
Municipal Infrastructure based on information that is publicly available or made
available to the public and share information with implications on infrastructure
and investment decisions with the Government and broader public sector
entities.
Consistency
The Municipality shall ensure the continued provision of core public services.
Environmental Conscious
The Municipality shall minimize the impact of infrastructure on the environment
by respecting and helping maintain ecological and biological diversity, by
augmenting resilience to effects of climate change and by endeavouring to make
use of acceptable recycled aggregates.
Health and Safety
The Municipality shall ensure that the health and safety of workers involved in the
construction and maintenance of infrastructure assets is protected.
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Community Focused
The Municipality shall promote community benefits, being the supplementary
social and economic benefits arising from an infrastructure project that are
intended to improve the well-being of a community affected by the project, such
as local job creation and training opportunities, improvement of public spaces
within the community, and promoting accessibility for persons with disabilities.
Innovation
The Municipality shall create opportunities to make use of innovative
technologies, services and practices, particularly where doing so would utilize
technology, techniques, and practices developed in Ontario.
Climate Change
The Municipality shall consider climate change as part of the Municipality's risk
management approach embedded in local asset management planning methods.
This approach will balance the potential cost of vulnerabilities to climate change
impact and other risks with the cost of reducing these vulnerabilities. The balance
will be struck in the levels of service delivered through operations, maintenance
schedules, disaster response plans, contingency funding, and capital
investments. The Municipality will continue to work with stakeholders in the area
and region regarding climate change mitigation and adaptation.
Disaster Response
The Municipality shall consider disaster response planning practices in an effort
to minimize risks to Municipal Infrastructure. This includes contingency funding
available should there be a need.
6.0
Responsibilities
a. Council
Council on behalf of the citizens will be entrusted with the responsibility of
overseeing the management of the Municipal Infrastructure. They will approve
any Asset Management Planning documents. They will review staff's
implementation of the plan as part of the annual budget process.
b. Staff
Staff will oversee the policy implementation and ensure both the Asset
Management Plan and the Strategic Asset Management Policy is in compliance
with Provincial Asset Management regulations. Staff will ensure that current year
and long range asset requirements are incorporated into the budget presented to
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Council annually. Management will update the Policy and Plan to reflect
changes as needed and present them for Council approval. These changes will
include those reflected in the updates to documents such as the Roads Needs
Study, Structural Assessment Reports, and all other condition assessments
commissioned for assets covered by the plan.
c. Stakeholders
The Municipality recognizes the need for stakeholder input into the planning
process and will foster informed dialogue using the best available information.
7.0
Legislative and Administrative Authorities
Ontario Regulation 588/17 Asset Management Planning for Municipal
Infrastructure under the Infrastructure for Jobs and Prosperity Act, 2015.
8.0
Policy Review
Council shall review this policy at least every five years and update it, as
necessary.