Asset Management Plan

The Town of Tillsonburg is committed to providing services to residents in a fiscally responsible manner that supports a community that is Connected, Enriched and Inspired.  With this commitment in mind, assets must be managed in a way that allows the Town to achieve its goals, plans and policies.

This Asset Management Policy details the principles and general framework for a systematic and coordinated approach to asset management in order to achieve the municipality's asset management objectives.

The policy is intended to establish consistent standards and guidelines for the management of Town assets, applying sound technical, social and economic principles that consider present and future needs of users, and the service levels expected from those assets.  This policy also ensures that legislative and regulatory requirements are met.

The Town's Asset Management Plan is a strategic document that states how assets will be managed over a period of time. The plan describes:

• the characteristics and condition of infrastructure assets;
• the level of service expected from them;
• planned actions to ensure the assets are providing the expected level of service;
• financing strategies to implement the planned actions

The purpose of an asset management plan is to help preserve, protect and enhance the quality of life within a municipality by systematically managing assets in an efficient, effective and sustainable manner.

The objective of the Town of Tillsonburg Asset Management Plan is to:

• provide levels of service that meet the needs of the community;
• provide an asset management process that is effective, achievable, and efficient;
• develop operating, maintenance, and capital financial plans that support the defined levels of service;
• manage the assets in a sustainable manner; and
• enable the collection, coordination, sharing, and communication of information in support of all the above

Asset management is an ongoing task founded on best practices, transparent business processes, and continuous improvement. Activities carried out include, but are not limited to:

• Operations and maintenance planning
• Condition assessment and inspection programs
• Data management and analytics
• Demand forecasting and capacity management
• Rehabilitation and replacement programs
• Project prioritization and coordination

Council has also adopted a Fleet Replacement Strategy that serves as part of the Asset Management Plan.