Asset Management

What is Asset Management?

Local governments are responsible for maintaining an enormous quantity and variety of assets, ranging from major infrastructure such as hundreds of kilometers of roads and utilities, to items as small as the computers and telephones used by the city to provide service to the community.

Our residents and businesses depend on these services. It’s easy to take for granted that water will come out of the tap, or sewage flushed away – until something goes wrong. 

As infrastructure ages, maintenance becomes an ever-increasing challenge. And just like with your car or your home, if not properly maintained these assets may fail much earlier than expected.

The goal of asset management is achieving “sustainable service delivery”: ensuring that current community services are delivered in a socially, economically, and environmentally responsible manner that does not compromise the ability of future generations to meet their own needs.

Sound Asset Management practices help minimize risks and long-term costs.

Asset Management in the City of Courtenay

In 2015 Council adopted an Asset Management Policy [PDF - 62 KB] and made Asset Management a Strategic Priority.

In December 2019, Courtenay became one of the first municipalities in Canada to adopt an Asset Management Bylaw [PDF - 115 KB].

The City’s Asset Management Program implements a life-cycle approach to the management of infrastructure assets to inform a sustainable funding model that provides assets aligned with Council approved long term plans and community needs.

We strive to develop and implement best value environmentally sustainable asset management practices that acknowledge the risks of climate change and the value of incorporating sustainability criteria into infrastructure projects and procurement. Asset management supports the provision of reliable asset and infrastructure data through digital platforms by implementing sound data governance and data quality management with access to systems and information by mobile technology wherever possible. We enable compliance with legislative requirements by having clear policies, processes and information.

This video from the Federation of Canadian Municipalities explains how asset management and sustainability can help communities.

More Background

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