Asset Management Plan

Why Asset Management Matters

Our infrastructure—including roads, bridges, buildings, vehicles, and water networks—plays a crucial role in delivering essential services to residents. Proper asset management helps:

• Extend the lifespan of assets through proactive maintenance
• Minimize unexpected breakdowns and costly emergency repairs
• Ensure services remain reliable and meet community needs
• Plan for future growth and climate change impacts

State of Our Infrastructure

The Township owns and maintains assets valued at $434.8 million, including:

• Roads & Bridges: Essential for safe and efficient transportation.
• Water Network: Provides clean and reliable drinking water.
• Buildings & Facilities: Includes municipal offices, community centres, and recreation spaces.
• Vehicles & Equipment: Supports public works and emergency services.

Currently, 64% of assets are in fair or better condition. However, some assets are aging, requiring significant investments in renewal and replacement.

Financial Planning for Sustainability

To maintain our infrastructure effectively, the Township requires an annual investment of $7.5 million. Currently, only $3.5 million is available each year, leaving an annual funding gap of $4 million.

To close this gap, the Township is considering:

• Gradual increases in capital funding, such as a 1.5% annual increase in property tax contributions over 15 years.
• Strategic use of debt financing for long-term infrastructure projects.
• Applying for provincial and federal grants to support major infrastructure needs.

Next Steps

The 2024 Asset Management Plan serves as a guiding document for our future planning and budgeting. Key next steps include:

• Ongoing data collection and condition assessments to refine our asset strategies.
• Development of long-term financial strategies to address funding shortfalls.
• Implementation of lifecycle management strategies to extend asset life and reduce costs.