Asset management involves continuous monitoring of assets’ condition, costs, risks, age, performance and estimated useful lives to systematically identify and prioritize the Town’s investment needs. This ensures that, with its limited financial resources, the Town effectively sustains its service delivery to residents and businesses, while adapting to climate change. For that reason the Town’s overall asset management approach is shifting to a more strategic one aimed at preserving infrastructure assets’ condition and extending their useful lives in the most economical way.
TOHH is mandated to develop and implement a Corporate Asset Management (CAM) Program to include core infrastructure and all other assets. The Town’s CAM Program will bring leading industry experience, best practices and innovation in asset management fully aligned with the Town’s Strategic Plans & Objectives. The CAM Program will clearly outline what the Town plans to do with its assets over their entire lifecycle while maintaining optimal levels of service, minimizing risks and meeting all regulatory requirements.
In 2014 the Town of Halton Hills adopted an Asset Management Plan for roads, bridges and major culverts to guide its investment decisions over the next 10 years.
The Plan embraces the principles reflected in the Ontario Ministry of Infrastructure’s ‘Building Together: Guide for Municipal Asset Management Plans’ and incorporates data on the Town’s inventory, related-Transportation and Public Works and asset management practices. It also outlines the Town’s strategies for planning, acquiring, operating, maintaining, rehabilitating, replacing and disposing of those infrastructure assets.