Asset Management in the Town of Grimsby

All municipalities own, operate and maintain a wide array of infrastructure assets. The Town of Grimsby is responsible for transportation networks, water distribution, sanitary and storm networks, facilities, and fleet. Asset management practices are used to ensure these assets are used effectively to their full service life.

"Asset Management (AM) is a comprehensive business strategy employing people, information, and technology to effectively and efficiently allocate available funds amongst valid and competing asset needs." (Transportation Association of Canada)

Asset Management involves:

  • Processes, procedures, and practices to assist and define the management of infrastructure
  • Achieving total lowest cost of ownership
  • Established measures for performance, risk and cost

Grimsby's approach to asset management 

  • The Town has created an Asset Management Team that allows for collaboration across all departments to meet the Asset Management goals of the Town
  • Knowing what assets the Town is responsible for by keeping an asset register in the Town's GIS (Geographic Information System)
  • Keeping track of the condition of these assets, through condition assessments and other methods
  • Maintaining and taking care of these assets to ensure they are used to their full service life
  • Budgeting for necessary infrastructure replacement

Asset managament policy

The Town of Grimsby has developed an asset management policy that a number of key goals:

  • Provide consistent and accurate means of tracking and reporting on Town assets and improving decision-making accountability and transparency
  • Provide a framework that enables the Town to implement plans, define goals, and work toward enterprise asset management to achieve medium and long term sustainability and demonstrate fiscal stewardship
  • Meet legislative reporting and organization financial planning requirements
  • Improve customer service

Learn more about the Town of Grimsby's asset management policy.

 

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