This Asset Management Plan (AMP) for the Township of Cavan Monaghan meets all requirements as outlined within the provincial "Building Together Guide for Municipal Asset Management Plans." It provides a strategic, tactical, and financial document, ensuring the management of the municipal infrastructure follows sound asset management practices and principles, while optimizing available resources and establishing desired levels of service. The performance of a community's infrastructure provides the foundation for its economic development, competitiveness, prosperity, reputation, and the overall quality of life for its residents. Reliable and well-maintained infrastructure assets are essential for the delivery of critical core services for the citizens of a municipality.
On June 20, 2022 Council received the Asset Management Plan for the Township of Cavan Monaghan and approved the posting of the AMP to the Township of Cavan Monaghan’s website. This update contains the July 1, 2022 (Phase 2) legislative requirements as they relate to the Asset Management Plan, per O. Reg. 588/17: Asset Management Planning for Municipal Infrastructure, Infrastructure for Jobs and Prosperity Act, 2015, S.O. 2015, c.15.
The Public Works Department will be working with Public Sector Digest to update the Asset Management Plan to include updated information in relation to forecasting asset details.
The Ministry of Infrastructure Asset Management Plan (AMP) timelines are as follows;
- July 1, 2022 (Phase 2): Asset Management Plan for core assets (roads, bridges and culverts, water, wastewater and stormwater management systems) that identifies current levels of service and the cost of maintaining those levels of service.
- July 1, 2024 (Phase 3): Asset Management Plan for all municipal assets that identifies current levels of service and the cost of maintaining those levels of service.
- July 1, 2025 (Phase 4): Asset Management Plan for all municipal assets that builds upon the requirements set out in 2024. This includes service levels and their appropriateness; a lifecycle management and financial strategy; funding sources and needs; and other assumptions.
The AMP emphasizes the need to continue to invest in municipal infrastructure while managing risks and replacement with fiscal responsibility.
