Asset Management Policy

On December 17, 2017, the Province of Ontario approved Ontario Regulation 588/17, being a regulation dealing with Asset Management Planning for Municipal Infrastructure, enacted under the Infrastructure for Jobs and Prosperity Act, 2015 setting out new requirements for undertaking asset management planning. Phase-in timelines have been provided in O. Reg. 588/17, for the preparation of new Asset Management Plans.

Based on the requirements of the new Regulation, July 1st, 2019 was established as the timeline for all municipal governments to have a finalized an initial strategic asset management policy, approved by Council, and posted for Public viewing. Section 3 of the Regulation sets out 12 matters that the policy must include and the policy must be reviewed every 5 years.

On January 15th, 2019 Council received Administrative Report PW-001-2019 (Attachment 02), outlining the requirements of Ontario Regulation 588/17, and re-committed to asset management and directed Staff to initiate the development of an updated Strategic Asset Management Policy (Policy) that would comply with the requirements of the regulation.

On April 16th, 2019 Council received a copy of the “Draft” Asset Management Policy for first and second reading of By-law 2019-063, being a By-law too adopt an Asset Management Policy for the city of Temiskaming Shores and directed staff to circulate the policy for comments. On May 21st, 2019, the by-law was given third and final reading and can be reviewed here.

Asset Management Plan

Municipalities own and manage a substantial asset inventory, from roads, bridges, sewers, and water mains, to land and facilities (e.g. arenas, fire stations, administrative buildings), to vehicles and equipment (e.g. trucks, plows).  

In 2015, the City had prepared it's first  Asset Management Plan to provide a comprehensive reference for renewing, operating, maintaining, building, replacing and disposing of City Assets. It is a planning tool that will allow assets to be prioritized and to help ensure that investments are made at the right time to minimize future repair and rehabilitation costs. 
Part of a 5 year program, the 2022 Asset Management Plan will provide and include an updated document on water, wastewater, stormwater, road and bridge assets. The 2024 Asset Management Plan will include and add all remaining assets such as buildings / facilities, fleet, parks, etc. Finally, the 2025 Asset Management Plan will include and add proposed management and financial strategies for its assets. 
 
The plan is based on the guidelines provided in the Province of Ontario Ministry of Infrastructure's Building Together Guide for Municipal Asset Management Plans. The Plan is based on currently available data and information on the overall services of the City. The plan is a living document and will require continuous updates and improvements over time with the City's ongoing data collection and analysis programs.