Long Term Care
Woodingford Lodge first opened its doors in October of 1969 and currently provides long-term care services to Oxford County residents through 228 beds located in 3 facilities.
This portfolio is categorized into two components: facilities and furniture and equipment.
Inventory
| Asset Component | Unit | Current Inventory | Replacement Cost |
| Furniture and Equipment | total | N/A | $4,774,008 |
| Facilities | bldg | 3 | 69,158,509 |
| Total Replacement Cost | $73,932,517 | ||
The replacement cost valuation is based on the latest information available, which includes current replacement costs, insurance valuations, inflation, and valuations from studies and assessments completed in prior years. Staff will complete further validation of the facilities replacement costs.
Condition
The assessment approach utilizes a combination of physical assessments, asset attributes, as well as established anticipated useful lives.
The overall condition is mainly driven by the condition of the facilities as they form approximately 94% of the long-term care asset replacement value.
Key Performance
| Key Service Attribute | LOS Statement | Performance Measure | 2022 | 2023 | Target |
| Quality | Providing long-term care at the appropriate quality | % of building components in fair or better condition | 69% | 68% | TBD |
| % of equipment in fair or better condition | 69% | 70% | TBD |
Funding Gap Analysis
This portfolio is currently funded by an annual levy contribution to the Woodingford Lodge - Capital reserve, along with an annual allocation of interest earned.
The graph illustrates the anticipated asset management needs (expenditures) and anticipated funding for the 10-year period of 2024-2033, reflecting an approximate $10 million deficit in funding availability over the period.
The annual contribution to reserve will need to increase annually with inflation, along with additional increases to assist with closing the funding gap. Staff have deferred projects recommended through the BCAs as a result of the funding deficit. Closing the funding gap will help ensure lifecycle projects are completed when anticipated.
Staff will review the expenditure and funding needs with each business plan and budget cycle to determine the appropriate increases in the annual contribution to the reserve, as well as seek out opportunities for additional funding sources. Debt funding may be recommended for projects that need to be completed during the 2024 to 2033 period, whereas projects representing a lower risk or consequence of failure may be deferred to the 2034 to 2044 to help manage the deficit.