Centre Wellington has a diverse inventory of assets that must be in good working order to provide the quality services you expect from us.
The Township maintains over $1 Billion in assets (2022 replacement value). Some assets are relatively new, or recently repaired, while other assets are approaching or have reached the end of their estimated useful life and require either replacement or significant investment to ensure service levels are maintained. The Township is faced with an aging and deteriorating asset base and have limited funding available to rehabilitate or replace these assets. The Township must balance the maintenance needs of new assets with the more capital-intensive repair and rehabilitation needs of aging and deteriorating assets.
The Township’s infrastructure assets include:
- Roads, sidewalks, streetlights, parking
- Recreational facilities and buildings
- Stormwater infrastructure such as pipes, culverts, and stormwater management ponds
- Parks and living assets (urban forestry)
- Fleet vehicles (e.g., fire trucks and snowplows)
- Equipment such as playgrounds, lawn mowers, electric vehicle charging stations, and firefighting equipment; and
- Information technology hardware
Beyond the legislated requirement for asset management planning, the core catalysts for establishing Township-wide asset management planning practices include:
- Anticipated growth and the demand on assets/services
- The impacts of climate change
- The increasing costs associated with providing services to stakeholders, such as residents; and
- A challenging municipal funding model, and the need to increase asset investment
Asset management planning allows the Township to make informed asset investment decisions, prioritize asset investments, enhance financial performance, manage risk, progress organizational sustainability, and improve the overall efficiency and effectiveness of providing services.
Council approved the 2022 Asset Management Plan, a strategic document prepared by Township staff that provides a planned approach for managing and investing in the Township’s owned assets (i.e., roads, bridges/culverts, storm, water, wastewater, facilities, vehicles, equipment, land improvements, etc.). Recommendations provided in the report will assist in this evolution and will ensure the Township is constantly moving forward in its asset management maturity.
For more information, please review:
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