Asset Management Plan

The Asset Management Plan guides the infrastructure strategy in the Township of Lake of Bays.

Overview

In compliance with Ontario Regulation 588/17 Asset Management Planning for Municipal Infrastructure, the Township retained an outside consultant to prepare an asset management plan for the Township assets.

This plan is intended to be a tool for the Township to use during various decision-making processes, including the annual budget process and Provincial / Federal capital grant application processes.

This plan will serve as a road map for sustainable infrastructure planning going forward.

Process followed

• Developed a complete listing of core capital assets to be included in the plan, including attributes such as useful life, age, accounting valuation and current replacement valuation.
• Assessed the current condition of assets.
• Assessed the risk of asset failure for each asset.
• Determined current levels of service.
• Prepared an asset management strategy.
• Determined a financial strategy to support the asset management strategy.
• Prepared the final asset management plan summarizing the process, strategy and results of the asset management plan.
• Maintain the asset management plan.

Documents

• Asset Management Plan 2023
• Strategic Asset Management Policy