Asset Management is the coordinated activity of realizing value from assets. The County is committed to the goals that asset management programs and processes aim to achieve. The state of the County’s infrastructure can be an economic development driver and is a determinant in the quality of life of our communities.
To make good decisions, we need good data. We also need to know how the County may grow over time and what levels of service our residents expect from the infrastructure we operate, maintain, replace and repair.
Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure was filed on December 27, 2017 under the Infrastructure for Jobs and Prosperity Act, 2015. The purpose of the regulation is to implement best practices throughout the municipal sector and provide a degree of consistency to support collaboration between municipalities and the Province. This regulation aims to help municipalities more clearly identify what their infrastructure needs are, thus, helping municipalities work towards a more sustainable position regarding the funding of their infrastructure. The County is in the process of implementing the requirements under this regulation.
Strategic Asset Management Policy
The Strategic Asset Management Policy outlines the principals and objectives the County uses in developing its assets to ensure long-term sustainability and fiscal stewardship, while balancing levels of service and risk, through asset lifecycle management. The policy will guide the consistent use of asset management across the County, to facilitate logical and evidence based decision making to support the delivery of sustainable services now and into the future.
To complement the Strategic Asset Management Policy, and to ensure a successful corporate asset management program, a governance strategy was developed. The governance strategy includes a combination of policies, systems, position roles and accountabilities built upon a strategic/operational framework, which together will ensure that appropriate decisions are made and actions carried out.
Asset Management Plan
Oxford County's Asset Management Plan supports the County’s Strategic Plan as well as the Official Plan as it relates to "strategically growing our economy and our community." The plan sets out a strategic framework to guide future investment that supports economic growth and responds to changing social, economic and environmental needs.
Also complementing the County’s Long-Term Financial Sustainability Plan, the Asset Management Plan forms a strong foundation for sound asset management financial planning well into the future.
Download the Asset Management Plan
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