Council Meeting Highlights – November 25, 2024

The administration provided an update on the current state of the Township’s infrastructure, as part of the presentation of the 2024 Asset Management Plan (AMP). This update highlighted the Township’s strong position, with 77% of its assets rated in fair or better condition. However, maintaining and improving this status requires ongoing commitment and strategic planning.

The State of Our Assets

With nearly $400 million in infrastructure assets, the Township faces an annual funding requirement of $10 million to keep these assets operational and in good condition. While government grants currently help bridge the gap between our funding and annual needs, reliance on external support is not a sustainable long-term solution.

A Proactive Path Forward

The Township has adopted a forward-thinking asset management strategy to meet these challenges:

1. Meeting Annual Replacement Requirements: Within six years, the Township aims to align its funding strategy with annual replacement needs. This ensures assets are renewed before reaching the end of their useful life, avoiding costly emergency repairs and financial burdens on future generations.
2. Progress Highlighted by the 2024 AMP: The submission of the 2024 AMP demonstrates significant progress in evaluating our infrastructure. It provides a detailed and accurate overview of our assets, showing that we are on the right track while identifying areas for improvement.
3. Strengthening the Asset Management Team: To support this effort, the Township has added a technical resource to the asset management team. By combining technical and financial expertise, we are creating a more accurate and comprehensive AMP, with streamlined database updates and improved data management processes.
4. Updating and Optimizing Data with GIS Technology: The asset management team will update the database with all the latest studies conducted by the Township in recent years, leveraging Geographic Information System (GIS) data to enhance accuracy and streamline processes.
5. Revamping the Asset Management Committee: A restructured committee will now include staff working directly on tangible projects, ensuring more hands-on expertise. These members will meet monthly to discuss updates, adjustments, and studies, promoting a collaborative and dynamic approach to asset management.

Commitment to Continuous Improvement
The administration is already planning the development of the 2025 AMP, building on the foundation laid by the 2024 plan. Over the next six months, we will refine our strategies to further enhance the evaluation and management of our infrastructure assets.

This proactive approach demonstrates the Township’s dedication to financial sustainability and responsible asset management. By ensuring that funds are available when needed and assets are renewed on time, we are protecting our community’s infrastructure while safeguarding future generations from unnecessary financial burdens.