Asset Management
The Municipality of French River owns and maintains infrastructure that supports the delivery of essential community services. These assets include roads, bridges, buildings, vehicles, equipment, and other municipal infrastructure.
Asset management is the coordinated process of planning, maintaining, renewing, and replacing these assets. It helps the Municipality understand:
• What infrastructure it owns;
• The condition and expected lifespan of each asset;
• The cost of operating, maintaining, and replacing municipal assets;
• The levels of service provided to the community; and
• The investments required to keep municipal services sustainable and reliable.
Effective asset management helps Council and staff make informed, long-term decisions. It connects infrastructure needs with municipal budgets, maintenance activities, capital projects, and other strategic priorities. It also helps the Municipality balance service expectations, affordability, risk, and future growth.
Ontario’s Asset Management Requirements
Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure, made under the Infrastructure for Jobs and Prosperity Act, 2015, establishes asset management planning requirements for Ontario municipalities.
In accordance with the regulation, the Municipality maintains a Strategic Asset Management Policy and a comprehensive Asset Management Plan. These documents guide how municipal infrastructure is managed and help identify the funding needed to maintain services over the long term.
The Municipality regularly reviews its asset management planning and reports on its progress to Council. The Asset Management Plan must also be reviewed and updated at least once every five years.
More information about municipal asset management requirements is available from the Government of Ontario.