Asset Management
The Region’s asset management planning process is a continuous year-round process that results in an corporate Asset Management Plan, which includes analysis and reporting of:
- The Region’s asset management goals, approach and policies based on corporate objectives, plans and studies.
- State of the Region’s infrastructure.
- Service levels and asset performance based on achieving asset management and corporate goals and regulatory guidelines.
- Life cycle considerations and analysis.
- Infrastructure capital investment needs.
- Asset management strategies.
- Risk and climate change adaptation and mitigation initiatives.
- Opportunities for continuous improvements.
The Region’s asset management plan is the first step in the annual financial planning process. It identifies asset investment needs and informs business plans and budgets and long-term capital forecasting and financial planning. This process, along with the Region’s collaborative and coordinated multi-disciplinary departmental asset management team approach, has supported several successful Regional initiatives. This is recognized as part of the Region’s best business practices.
The Region’s corporate asset management approach also ensures compliance with all Provincial and Federal regulatory and reporting requirements and grant funding programs.
The Region’s annual Asset Management Plan is approved by Regional Council. Below is a link to the Regional Council approved 2024 Asset Management Plan, which is informed by the Region’s Corporate Strategic Asset Management Policy.
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