Asset Management Information
ACRD Asset Management
The ACRD is committed to developing and implementing an Asset Management Program to enhance the ACRD's asset management culture and provide staff and elected officials valuable information that can be used in making sustainable infrastructure decisions. The ACRD was fortunate to receive federal Gas Tax Funds to assist in the implementation the program.
What is Asset Management?
The Federation of Canadian Municipalities (FCM) has created this short video to explain why Asset Management (AM) is a critical component of any sustainable community. While we may not own some of the assets in the video, like roads, it's a great example of how AM can benefit every community!
Key Considerations in Asset Management
- Sustainable Service Delivery
Ensure we continue to provide the quality services we rely on today and in the future
- Practical & Evidence Based
Take the guess work out of decision-making and setting priorities based on what needs to be fixed or replaced and when.
Make cost-effective and efficient decisions proactively instead of waiting until something breaks down and frantically finding a costly fix.
Engage citizens, staff, and the Board of Directors in making decisions about what and when to repair and replace critical assets, and where to invest in the future. This includes community conversations about what level of services citizens expect and the costs to provide them.
- Our Duty
Fulfill our statutory responsibility to look after our community's assets. Infrastructure grants: In BC, improving asset management practices is a requirement in order to receive Gas Tax funding and improves access to other federal/provincial capital infrastructure grants.
How Does Asset Management Relate to the ACRD
Asset Management is an integrated business approach involving planning, finance, engineering and operations to effectively manage existing and new infrastructure to maximize benefits, reduce risk and provide satisfactory levels of service to community users. The ACRD provides many services to the community, including:
Of these services, each one that involves capital assets owned by the ACRD is deemed to require an AM Plan. Some of these services may be grouped into a comprehensive AM Plan based on number of assets and the associated tax base, while others will receive a dedicated AM Plan.
In 2018, the ACRD was successful in applying for and receiving funding through the Gas Tax Strategic Priorities fund for the lesser of $196,000 or 100% of the actual eligible costs of the AM project. At the time of application, the estimated total cost of the project was $250,000.
How will we do it?
The ACRD AM Program follows Asset Management for Sustainable Service Delivery: A BC Framework, developed by Asset Management BC. More information about Asset Management BC can be found at www.AssetManagementBC.ca.
The framework represents the cyclical and continuous nature of Asset Management. Plans are not designed to be static but rather living documents that are improved with each version as understanding grows and needs change.
What progress has been made so far?
Since its inception, the AM Committee has created a robust Asset Management Program including policies, strategies and risk framework in addition to several Asset Management Plans for the various services within the ACRD. Asset Management Plans are intended to be living documents that are updated on an regular basis to account for changes in the asset registry, strategic planning initiatives and capital works performed.
Documents adopted by the Board of Directors as a part of the Asset Management Program can be found here.
Still Have Questions?
Contact Tricia Bryant at firstname.lastname@example.org or call 250-720-2700