In 2012, the Province decreed that if a municipality wanted provincial funding, they would have to demonstrate how any proposed project fits within a detailed asset management plan. This also applied to receiving the Federal Gas Tax. The requirement was for three phases: (1) core assets, (2) non-core assets and finally: (3) Proposed Level of Service, Lifecycle Management and Financial Strategy. The first one has been done and the plan for non-core assets will be presented to Council at their meeting on June 26. Why do we care? When an asset management plan was done for stormwater (part of core assets), a shortfall was discovered which led to the imposition of the stormwater fee. The basic intent of an asset… Read complete articleAsset Management Plan – Part 3