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THE CORPORATION OF THE TOWN OF WASAGA BEACH
POLICY MANUAL
SECTION NAME:
Treasury
POLICY NUMBER:
4-7
POLICY:
Strategic Asset Management Policy
REVIEW DATE:
June 2024
EFFECTIVE DATE:
June 25, 2019
REVISIONS:
ADOPTED BY BY-LAW:
2020 - 24
ADMINISTERED BY:
Asset Management Committee and
Director of Finance and Treasurer
1.0
PURPOSE
The purpose of this policy is to provide leadership in and commitment to the development
and implementation of the Town of Wasaga Beach's asset management program. It is
intended to guide the consistent use of asset management principles across the
organization and support the delivery of sustainable community services for now and
the future.
By using sound asset management practices, the Town will work to ensure that all
municipal infrastructure assets meet expected performance levels and continue to
provide desired service levels in the most efficient and effective manner.
This policy demonstrates a commitment to the good stewardship of municipal
infrastructure assets, and to improved accountability and transparency to the
community through the adoption of best practices regarding asset management
planning.
2.0
POLICY STATEMENT
To guide the Town, the following policy statements have been developed:
1. The Town will implement an asset management program through all departments.
The program will promote lifecycle and risk management of municipal infrastructure
assets, with the goal of achieving the lowest total cost of ownership while meeting
desired levels of service.
2. The Town will develop and establish its asset investment and financial strategies
with a focus on ensuring the lowest overall lifecycle (service life) cost.
3. The Town will implement continuous improvement protocols and adopt best
practices regarding asset management planning.
4. The Town will develop and maintain an asset inventory of all municipal infrastructure
assets which includes, at a minimum, a unique ID, description, location information,
value (both historical and replacement), performance characteristics and/or
condition, estimated remaining life, estimated cost repair, rehabilitation or
replacement costs. Moving forward, the Town will strive to enhance their asset
inventory by collecting more valuable asset attributes against their infrastructure
assets.
5. The Town will develop an asset management plan (AMP) that incorporates all
infrastructure categories and municipal infrastructure assets that are necessary to
the provision of services. This may include assets that fall below their respective
capitalization thresholds as outlined in the Town's Tangible Capital Asset Policy.
The scope of these assets will be determined, according to relevance, based on the
professional judgment of Town senior staff. The AMP will be reviewed annually to
address the Town's progress in implementing its asset management plan and
updated at least every five years in accordance with O. Reg. 588/17 requirements,
to promote, document and communicate continuous improvement of the asset
management program.
6. The Town will integrate asset management plans, practices and principles with its
long-term financial planning and budgeting strategies. This includes the
development of financial plans that determine the level of funding required to
achieve short-term operating and maintenance needs, in addition to long-term
funding needs to replace and/or renew municipal infrastructure assets based on full
lifecycle costing.
7. The Town will explore innovative funding and service delivery opportunities,
including but not limited to grant programs, public-private partnerships (P3), and
shared provision of services, as appropriate.
8. The Town will develop meaningful performance metrics and reporting tools to
transparently communicate and display the current state of asset management
practice to Council and the community.
9. The Town will consider the risks and vulnerabilities of municipal infrastructure assets
to climate change and the actions that may be required including, but not limited to,
anticipated costs that could arise from these impacts, adaptation opportunities,
mitigation approaches, disaster planning and contingency funding. Impacts may
include matters relating to operations, levels of service and lifecycle management.
10. The Town will ensure that all financial plans are coordinated and align with the
established asset management plan and any other applicable legislation.
i.
The Ten-Year Capital Plan details the financial plans related to the Town's
water and wastewater assets, including those prepared under the Safe
Drinking Water Act, 2002.
11. The Town will align all asset management planning with the Province of Ontario's
land-use planning framework to be consistent with and conform to any relevant
policy statements issued under section 3(1) of the Planning Act; the provincial plans
that are in effect on that date; and with all municipal official plans.
12. The Town will coordinate planning for interrelated municipal infrastructure assets
with separate ownership structures by pursuing collaborative opportunities with
neighbouring municipalities and jointly-owned municipal bodies wherever viable and
beneficial.
13. The Town will develop processes and provide opportunities for municipal residents
and other interested parties to offer input into asset management planning wherever
and whenever possible.
3.0
DEFINITIONS
Unless otherwise noted, the definitions provided in this document align with those
outlined in Ontario Regulation 588/17 (O. Reg. 588/17), Asset Management Planning
for Municipal Infrastructure, under the Infrastructure for Jobs and Prosperity Act,
2015.
1. Asset management (AM) - the coordinated activity of an organization to
realize value from assets. AM involves the balancing of costs, opportunities
and risks against the desired performance of assets, to achieve organizational
objectives.
2. Asset management plan (AMP) - documented information that specifies how
the activities, resources, and timescales required for an individual asset, or a
grouping 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.
3. Capitalization threshold - the value of a municipal infrastructure asset at or
above which a Town will capitalize the value of it and below which it will expense
the value of it.
4. Green infrastructure asset - an infrastructure asset consisting of natural or
human-made elements that provide ecological and hydrological functions and
processes and includes natural heritage features and systems, parklands,
stormwater management systems, street trees, urban forests, natural channels,
permeable surfaces and green roofs.
5. Level of service - parameters, or combination of parameters, which reflect
social, political, environmental and economic outcomes that the asset or
municipality delivers.
6. Lifecycle activities - activities undertaken with respect to a municipal
infrastructure asset over its service life, including constructing, maintaining,
renewing, operating and decommissioning, and all engineering and design work
associated with those activities.
7. Municipal infrastructure asset - an infrastructure asset, including a green
infrastructure asset, directly owned by a Town or included on the consolidated
financial statements of a Town, but does not include an infrastructure asset that
is managed by a joint municipal board.
4.0 Alignment with the Town's Strategic Direction
This policy aligns with the Town of Wasaga Beach's Official Plan, Council Priorities, and
the 10 Year Capital Plan.
1. Town of Wasaga Beach Official Plan 2013
a) Goals
i. Maintaining the natural amenity and agricultural function of the rural area
of the Town in the short terms, in compliance with Provincial growth
management targets.
ii. Provide policies to ensure that growth and development occur in a
manner that will minimize public health and safety issues, including the
protection of human life and property from water and related hazards
such as flooding and erosion.
iii. Provide policies in regard to land use decisions that promote water and
energy conservation and support the efficient use of water resources on
a watershed basis
iv. Policies to plan for public streets, spaces and facilities to be safe,
accessible, meet the needs of pedestrians and facilitate pedestrian
movement, including but not limited to walking and cycling.
v. Ensuring that all development or redevelopment meets a high quality of
community and urban design.
2. Council Priorities
a. Goals
i. Determine the town's role in the development of the downtown area
and beachfront;
ii. Determine the best location(s) and build a new twin pad arena and
library;
iii. Promote and facilitate the construction of affordable, attainable, and
safe housing;
iv. Support the private sector in growing and diversifying the tax base;
v. Continue to build a safer and healthier community, mindful of the
needs of various neighbourhoods in town;
vi. Implement changes to Council's governance and structure to
improve accountability and transparency;
vii. Maintain the financial health of the town while meeting the service
needs of the community;
viii. Review the town's assets and determine a strategy to deal with them
in the best interest of the municipality
ix. Build pride in the community through effective communication,
events and initiatives
x. Build an efficient, well-functioning, customer-oriented organization to
deliver on Council's priorities.
5.0 ROLES AND RESPONSIBILITIES
The development and continuous support of the Town's asset management program
requires a wide range of duties and responsibilities. The following passages outline the
persons responsible for these tasks:
Council
i.
Approve the AM policy and direction of the AM program through
its approval of the Town's asset management plan
ii.
Maintain adequate organizational capacity to support the core practices
of the AM program
iii.
Prioritize effective stewardship of assets in adoption and ongoing
review of policy and asset management plan
iv.
Approve capital and operating budgets delivered by Staff
Leadership Team
i. Development of policy and policy updates
ii. Provide corporate oversight to goals and directions and ensure the
AM program aligns with the Town's strategic priorities
iii. Ensure that adequate resources are available to implement and
maintain core AM practices
iv. Develop and monitor levels of service and make recommendations
to Council
v. Track, analyze and report on AM program progress and results
vi. Provide leadership in AM practices and concepts
Departmental Staff
i.
Utilize new business processes and technology tools as they are
implemented as part of the AM program
ii.
Participate in implementation task teams to carry-out AM activities such
as the Asset Planning Steering Committee (APSC)
iii.
Implement and maintain defined capital asset levels of service
iv.
Manage budgets based on lifecycle activities and financial
management strategies
Public
i. Engage and voice level of service expectations and concerns to
Council and Staff through surveys and public engagement
opportunities
6.0 KEY PRINCIPLES
The Town shall consider the following principles as outlined in section 3 of the
Infrastructure for Jobs and Prosperity Act, 2015, when making decisions regarding
asset management:
1. Infrastructure planning and investment should take a long-term view,
and decision-makers should consider the needs of citizens by being
mindful of, among other things, ability to pay, demographic and
economic trends.
2. Infrastructure planning and investment should consider any applicable budgets
or fiscal plans.
3. Infrastructure priorities should be clearly identified in order to better
inform investment decisions respecting infrastructure.
4. Infrastructure planning and investment should ensure the continued provision
of core public services, such as safe drinking water and reliable
transportation services.
5. Infrastructure planning and investment should promote economic
competitiveness, productivity, job creation and training
opportunities.
6. Infrastructure planning and investment should ensure that the health and
safety of workers involved in the construction and maintenance of
infrastructure assets is protected.
7. Infrastructure planning and investment should foster innovation by creating
opportunities to make use of innovative technologies, services and
practices, particularly where doing so would utilize technology, techniques
and practices developed in Ontario.
8. Infrastructure planning and investment should be evidence based and
transparent, and, subject to any restrictions or prohibitions under an Act
or otherwise by law on the collection, use or disclosure of information,
i. investment decisions respecting infrastructure should be made on the
basis of information that is either publicly available or is made available
to the public, and
ii. information with implications for infrastructure planning should be
shared between the Town and broader public sector entities and should
factor into investment decisions respecting infrastructure.
8
9. Where provincial or municipal plans or strategies have been established in Ontario,
under an Act or otherwise, but do not bind or apply to the Town, as the case may
be, the Town should nevertheless be mindful of those plans and strategies and
make investment decisions respecting infrastructure that support them, to the extent
that they are relevant.
10. Infrastructure planning and investment should promote accessibility for persons
with disabilities.
11. Infrastructure planning and investment should minimize the impact of infrastructure
on the environment and respect and help maintain ecological and biological
diversity, and infrastructure should be designed to be resilient to the effects of
climate change.
12. Infrastructure planning and investment should endeavour to make use of
acceptable recycled aggregates.
13. Infrastructure planning and investment should 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
space within the community, and any specific benefits identified by the community.
i
References:
i Policy material taken from the Town of Aurora - Strategic Asset Management Policy, with permission.