Ontario's municipalities own more of the province's infrastructure assets than both the provincial and federal government combined. Across Canada, the municipal share of public infrastructure increased from 22% in 1955 to nearly 60% in 2013.
Figure 1-1 Distribution of Net Stock of Core Public Infrastructure
The asset portfolios managed by Ontario's municipalities are also highly diverse. The Town of Whitby owns approximately $2 billion of these public assets in seven distinct Service Areas:
- Road Right-of-Way
- Library Resources
- MIS Equipment
Figure 1-2 illustrates the breakdown of the Town's asset portfolio by Service Area
Whitby relies on these assets to provide residents, businesses, employees and visitors with safe access to important services, such as transportation, recreation, culture, economic development and much more. As such, it is critical that the Town manage these assets by making the right decisions, at the right time, for the right reasons, and for the right costs.
What is Asset Management?
Asset Management (AM) can be best defined as an integrated business approach within an organization that minimizes the lifecycle costs of owning, operating, and maintaining assets, at an acceptable level of risk, while continuously delivering expected levels of service for present and future customers. AM includes the planning, design, construction, operation and maintenance of infrastructure used to provide services. Infrastructure needs can be prioritized over time by utilizing AM processes, while also ensuring timely investments to minimize repair and rehabilitation costs and maintain municipal assets.
Key questions municipalities must ask themselves today as they develop their AMPs and programs are the following:
- What is the asset worth?
- What is the asset's condition and expected remaining service life?
- What is the level of service expectation, and what needs to be done?
- When do you need to do the preventative maintenance, rehabilitation, or replacement?
- How much will the remedial works cost and what is the acceptable level of risk(s)?
- What are the overall life cycle needs/costs?
- What are the long-term sustainable financing needs?
Municipal Asset Management Plan
The Municipal Asset Management Plan (MAMP) is a living document which provides an overview of the Town's asset health and financial preparedness in order to meet the service expectations of community members.