Operationalizing Asset Management Planning

This asset management project aims to apply the latest developments in asset management to prepare theTownship's asset management plan so that it is a living document (able to be updated regularly) that meetsOntario regulation 588/17. The focus of this project is to begin incorporating all municipal assets (coreassets include roads, bridges, culverts and non-core assets include buildings, vehicles, machinery andequipment) into the plan as will be required by July 1, 2023 and the development of key performanceindicators, deterioration trends and improvement thresholds for each asset category. Also to beincorporated is a 25 year capital expenditure and performance projection to identify any funding shortfalls.This will ensure Council is appropriately informed when making budget and service level decisions.The Township of Wainfleet will create an Asset Management Plan (AMP) for the following asset classes:Roads, Bridges/Culverts, Buildings, Fleet, and Machinery/Equipment. The plan will document each class’key performance indicators, the deterioration trend, and the remaining useful life of each asset (basedupon existing asset condition and its intervention point). They, in turn, will allow the Township to identifyfunding needs and the shortfalls that would result from the existing funding scheme, over the next 25MAMP 15809(29 pages)years. This AMP will provide information to the Township and Council that will allow them to take betterasset investment / renewal decisions. By completing this project it will also provide the framework forasset management processes to be incorporated into the operations of the Township.