Checklist for Councils to Assess State of Asset Management
To identify opportunities for making further progress in asset management in your municipality, here are some key questions that need to be revisited every year:
- Do you know what services your municipality provides and what infrastructure assets are required to provide those services?
- Do you know your community’s service level expectations? Are you meeting them and do you have the required financial resources to do so?
- What is the total cost of providing these services at the current service levels? Are these costs sustainable?
- Has your Council engaged the community to set realistic expectations?
- How reliable is your assets data on costs, risks and service levels?
- Does your staff have the required resources and expertise to pursue asset management?
- Does your municipality have an asset management policy that is aligned with your municipality’s strategic plan?
- Does your policy include a governance structure that specifies role and responsibilities?
- Is your asset management plan developed in compliance with your policy?
- Does your plan meet the provincial regulatory requirements and include all infrastructure assets?
- Does the plan take into account the whole lifecycle cost of assets?
- Does the plan identify capital investment priorities?
- Are there any assets that should be retired and do not need to replaced?
- Are there any additional factors that affect service delivery that are not captured in the asset management plan?
- What is the appropriate infrastructure deficit or funding gap for our community? How will it impact service levels, now and into the future, if we continue along the same trajectory?
- Does your plan include a financial strategy to address the funding gap? Have you considered debt and alternative revenue streams?