Asset Management Plan

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Thunder Bay is developing a new Asset Management Plan

Asset Management is a process to guide spending decisions. It is all about making the right investment on the right asset at the right time at the lowest possible cost.

To do this right, we must

  • Know what we have
  • Measure how well what we have is performing
  • Take care of what we have it so it lasts
  • Prioritize and plan for both what we have now and what we will have in the future

county park splash pad thunder bayThe City of Thunder Bay provides a wide range of services that are vital to our quality of life, such as clean drinking water, transportation systems, drainage, parks and recreation and emergency services. These services depend on physical infrastructure assets such as water treatment plants, roads, storm sewers, buildings, vehicles and natural assets such as wetlands and trees. The cost to replace these assets is estimated to be $3.4 billion.

Today, revenue collected through taxes, user fees and government grants do not cover the costs to maintain and replace these assets over time. It is estimated the City should be spending and/or putting aside in reserves, $55.1 million per year to maintain and replace these assets at the end of their useful life. Based on the 2020 approved budget, a shortfall in annual funding of $22.3 million is estimated.

This means that some City facilities, roads, sidewalks, parks and other infrastructure will not get the maintenance and rehabilitation they need, when it is needed, and these assets may not be replaced. Assets that are not appropriately maintained or are left in place beyond their useful life will have a lower standard of condition, have higher operating costs and will have an increased risk of failure.

thunder bay landfill kioskAs the City’s Asset Management process continues to evolve, we can make better informed decisions about where tax dollars should be spent now to make best use of limited tax dollars to maintain essential services, strengthen our economy, lifestyle and well-being.

A financing strategy will be developed to support a high quality of life for our citizens and future generations, and to support Thunder Bay in achieving our vision of vibrant and dynamic place - One City, Growing Together.


We invite you to view the first in our Future-Ready Roadmap series of videos about Thunder Bay's Asset Management Plan: What Is An Asset?

Click for an Accessible PDF of the "What Is an Asset?" video script.


The following graphics illustrate "What Is An Asset?" For a larger version, please download the "What Is An Asset" PDF.





To get involved and learn more...

- Visit this page for updates on the development of the new Asset Management Plan. Public input will be welcomed at various stages.
- View Thunder Bay's Strategic Asset Management Policy No. 11-02-08
- For information on Thunder Bay's current Asset Management Plan, visit our Asset Management Plan webpage.

Thunder Bay is developing a new Asset Management Plan

Asset Management is a process to guide spending decisions. It is all about making the right investment on the right asset at the right time at the lowest possible cost.

To do this right, we must

  • Know what we have
  • Measure how well what we have is performing
  • Take care of what we have it so it lasts
  • Prioritize and plan for both what we have now and what we will have in the future

county park splash pad thunder bayThe City of Thunder Bay provides a wide range of services that are vital to our quality of life, such as clean drinking water, transportation systems, drainage, parks and recreation and emergency services. These services depend on physical infrastructure assets such as water treatment plants, roads, storm sewers, buildings, vehicles and natural assets such as wetlands and trees. The cost to replace these assets is estimated to be $3.4 billion.

Today, revenue collected through taxes, user fees and government grants do not cover the costs to maintain and replace these assets over time. It is estimated the City should be spending and/or putting aside in reserves, $55.1 million per year to maintain and replace these assets at the end of their useful life. Based on the 2020 approved budget, a shortfall in annual funding of $22.3 million is estimated.

This means that some City facilities, roads, sidewalks, parks and other infrastructure will not get the maintenance and rehabilitation they need, when it is needed, and these assets may not be replaced. Assets that are not appropriately maintained or are left in place beyond their useful life will have a lower standard of condition, have higher operating costs and will have an increased risk of failure.

thunder bay landfill kioskAs the City’s Asset Management process continues to evolve, we can make better informed decisions about where tax dollars should be spent now to make best use of limited tax dollars to maintain essential services, strengthen our economy, lifestyle and well-being.

A financing strategy will be developed to support a high quality of life for our citizens and future generations, and to support Thunder Bay in achieving our vision of vibrant and dynamic place - One City, Growing Together.


We invite you to view the first in our Future-Ready Roadmap series of videos about Thunder Bay's Asset Management Plan: What Is An Asset?

Click for an Accessible PDF of the "What Is an Asset?" video script.


The following graphics illustrate "What Is An Asset?" For a larger version, please download the "What Is An Asset" PDF.





To get involved and learn more...

- Visit this page for updates on the development of the new Asset Management Plan. Public input will be welcomed at various stages.
- View Thunder Bay's Strategic Asset Management Policy No. 11-02-08
- For information on Thunder Bay's current Asset Management Plan, visit our Asset Management Plan webpage.

Page last updated: 05 October 2021, 17:19