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 for all its infrastructure and assets to be in compliance with the O. Reg. 588/17: Asset Management Planning for Municipal Infrastructure. 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.
The Town of Halton Hills has adopted its Strategic Asset Management Policy that outlines the guiding principles and commitment for better asset management planning.
The Town of Halton Hills has also developed its 2018 State of Infrastructure (SOI) Report. The SOI report provides a ‘snapshot’ of the current state of infrastructure repair and includes a comprehensive asset inventory, assessing the current condition and risks of the assets, estimating asset service life, estimating rehabilitation and replacement costs that will be used to better understand the financial requirement to maintain these assets, and identifying the impact on the Town’s budget and long-term financial plans.