Asset Management
To make good decisions, we need good data. We also need to know how the County may grow over time and what levels of service our residents expect from the assets we operate, maintain, replace and repair.
Asset management is the coordinated activity of realizing value from assets. The County is committed to the goals that asset management programs aim to achieve which includes establishing a strategic framework for managing assets, aligning assets with service objectives, documenting core practices and procedures, and guiding the action and investment needed to meet key business goals.
Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure was filed on December 27, 2017 under the Infrastructure for Jobs and Prosperity Act, 2015. The purpose of the regulation is to implement best practices throughout the municipal sector and provide a degree of consistency to support collaboration between municipalities and the Province. This regulation aims to help municipalities more clearly identify what their asset needs are, thus, helping municipalities work towards a more sustainable position regarding the funding of their assets. The County continues to implement the requirements under this regulation.
Strategic Asset Management Policy
The Strategic Asset Management Policy outlines the principals and objectives the County uses in developing its assets to ensure long-term sustainability and fiscal stewardship, while balancing levels of service and risk, through asset lifecycle management. The policy will guide the consistent use of asset management across the County, to facilitate logical and evidence based decision making to support the delivery of sustainable services now and into the future.
Asset Management Governance Strategy
Complementing the policy, the governance strategy documents and clarifies the roles and responsibilities and enables participants to manage assets in an informed manner using reliable and consistent practices.
Asset Management Plan
Oxford County's 2024 Asset Management Plan supports the County's Strategic Plan as we continually strive to work together for a healthy, vibrant and sustainable future. The plan helps ensure we are responding to changing needs in a fiscally responsible manner.
Also complementing the County’s Long-Term Financial Sustainability Plan, the Asset Management Plan forms a strong foundation for sound asset management financial planning well into the future.
The June 2024 Asset Management Plan covers all County-owned assets with the exception of natural assets, as staff work through identifying assets and related asset management planning practices for this area.
Click on a service area below to review the highlights or download the complete 2024 Asset Management Plan.
