Woodstock City Council Approves Asset Management Policy

Saturday, 4 May 2019 at 06:53

The City of Woodstock recently approved the Asset Management Policy handed down by the province.

WOODSTOCK - Woodstock City council approved the latest requirements outlined in the Asset Management Policy.

The provincial government released a new set of asset management requirements each city must meet over the next five years.

Mayor Trevor Birtch says the city has been working on asset management for several years, maintaining infrastructure projects and different facilities in the community.

"We have been working as a municipality for several years now on our asset management, it's a provincial requirement. We have valued all of our different infrastructure that includes the sidewalks, roads, the pipes in the ground, our recreational facilities, fire facilities, police, all of our recreational needs, the life of a swimming pool. And through that process we continue to fine tune things and the province has introduced new regulations and we're making sure that we have an official policy in place for capital refurbishment."

Mayor Birtch says the policy will allow for input from all of their partners and the community on capital projects.

"One of the things that this will help with is making sure that before we make large decisions on capital projects that we consult with all our partners as well as the community, and allow input in the form of surveys and public meetings. And that's a good thing to hear from our citizens and our business and industry before we make our decisions."

The report says the intention of this policy is to maximize benefits, manage risk and provide satisfactory levels of service to the public in a sustainable and environmentally responsible manner.
Municipalities need to make sure enough money is available in the long term to renew assets and deal with growth, as well as meet pressures from age, climate change and unforeseen disasters.

Mayor Birtch adds the policy will also help the next person in line for the new asset management role, which was approved by council during the 2019 budget deliberations. He says the position will be filled by July.

"It'll give a good guide towards the new asset management position that we have here at the City, that'll be helping the finance department as well as helping all of our operational divisions when it comes time to budgets and capital projects."