Asset management involves the continuous monitoring of asset condition, risk, costs, and performance to systematically identify and prioritize the Town's investment needs. This ensures that, with its limited financial resources, the Town effectively sustains its service delivery to residents and businesses, while minimizing asset risk and adapting to climate change. For that reason, the Town's overall asset management approach is shifting to a more strategic one aimed at preserving infrastructure assets' condition and extending their useful lives in the most economical way.
TOHH is mandated to develop and implement a Corporate Asset Management (CAM) Program for all its infrastructure and assets to be in compliance with the O. Reg. 588/17: Asset Management Planning for Municipal Infrastructure. The Town's CAM Program brings leading industry experience, best practices and innovation in asset management fully aligned with the Town's Strategic Plans & Objectives. The CAM Program outlines what the Town plans to do with its assets over their entire lifecycle while maintaining optimal levels of service, minimizing risks, and meeting all regulatory requirements.
The Town of Halton Hills has adopted its Strategic Asset Management Policy that outlines the guiding principles and commitment for better asset management planning.
The Town of Halton Hills has also developed its 2022 Core Asset Management Plan and the 2024 Non-Core Asset Management Plan. These plans provide a comprehensive overview of the current state of infrastructure, including a comprehensive asset inventory that assesses current conditions, risks, asset service life, and rehabilitation and replacement costs. The plans also include Levels of Service (LOS) statements that define current asset performance, lifecycle management strategies for existing asset performance and, enhanced risk management frameworks to mitigate risks associated with asset failure. This information is crucial for understanding the financial requirements to maintain these assets and identifying the impact on the Town's budget and long-term financial plans.