PHASE 1 - CORE ASSETS
Document and review core asset inventory, determine level of confidence in data and reduce any asset inventory and condition data gaps.
Document existing levels of service for core assets in accordance with the prescribed technical and qualitative metrics defined in the regulation.
Complete lifecycle analysis and assess risk/criticality of each core asset to inform future desired levels of service considering associated economic, social and environmental risks for a 10-year projection.
Determine estimated costs of capital expenditures and significant operating costs due to service growth.
PHASE 2 - ALL OTHER CORPORATE ASSETS
Review and make any required adjustments or updates to core asset inventory.
Update asset inventory to include all assets owned by the Corporation defined as a tangible capital asset in accordance with Public Sector Accounting Board reporting guidelines.
Document existing levels of service for all other assets by means of qualitative and technical metrics established by the municipality.
Complete lifecycle analysis of all other assets considering associated economic, social and environmental risks for a 10 year projection.
Public engagement on community desired levels of service.
- Determine the estimated costs of capital expenditures and significant operating costs due to service growth.
PHASE 3 - FINANCING, AND ESTABLISH LEVELS OF SERVICE
Review and make any required adjustments or updates to the asset management plan.
Develop proposed technical and community levels of service - considering affordability and sustainability for a 10-year projection.
Update asset lifecycles and risks models as necessary to reflect proposed levels of service.
Identify financial strategies to deliver proposed levels of service and address funding shortfalls.
City Council approval of proposed levels of service.
First annual progress report to Council.