Municipal infrastructure provides the foundation for the economic, social and environmental health and growth of a community through the delivery of critical services. The goal of asset management is to deliver an adequate level of service in the most cost-effective manner. This involves the development and implementation of asset management strategies and long-term financial planning.
All municipalities in Ontario are required to complete an asset management plan (AMP) in accordance with Ontario Regulation 588/17 (O. Reg. 588/17). This AMP outlines the current state of asset management planning in the Municipality of Thames Centre. It identifies the current practices and strategies that are in place to manage public infrastructure and makes recommendations where they can be further refined. Through the implementation of sound asset management strategies, Thames Centre can ensure that public infrastructure is managed to support the sustainable delivery of municipal services.
This AMP includes the following asset categories:
| Asset Category | Source of Funding |
| Road Network | Tax Levy |
| Bridges and Culverts | Tax Levy |
| Buildings and Facilities | Tax Levy |
| Machinery and Equipment | Tax Levy |
| Fleet | Tax Levy |
| Parks and Land Improvements | Tax Levy |
| Water Distribution | User Rates |
| Wastewater Distribution | User Rates |
| Stormwater Collection | User Rates |
Key Principals
The following are the key principles of asset management:
- Providing defined levels of service and monitoring performance
- Managing impact of growth through demand management and infrastructure investment
- Taking a lifecycle approach to developing cost-effective management strategies for the long-term to meet that defined level of service
- Identifying, assessing and appropriately controlling risks
- Having a long-term financial plan which identifies the expenditures and how it will be funded
Why Invest in Asset Management
- Assists in the protection and enhancement of the Municipality's quality of life by ensuring the best possible decisions are made regarding our assets
- Encourages evidence-based budgeting and long-term financial forecasting
- Drives longer term thinking and planning
- Supports financial sustainability
Please see the attached Draft Asset Management Plan for the Municipality of Thames Centre - which will be presented to Council on July 15, 2024 Regular Meeting of Council for consideration.