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Committee of the Whole/Documents/Asset Management Strategy Recommendations Presentation
Presentation

Asset Management Strategy Recommendations Presentation

January 9, 2024Pages 79–852 sections

Presentation slides detailing recommendations for asset management strategy including establishing levels of service and preparing plans for critical assets.

6.3.3 a) Asset Management Strategy
Target maturity forecast for 2026Recommendation to incorporate financial implications into the Draft 2024-2028 Financial Plan for February 2024 budget meetings.Levels of service choices involve tradeoffs between cost and performance, such as a $115,000 lifecycle cost for high-condition collector roads vs $75,000 for a lower score.

Asset Management Strategy

AM Strategy Recommendations

  • A.1 Establish levels of service for all assets
  • A.2 Prepare AM plans for critical assets
  • A.3 Adopt AM Policy & AM Strategy
  • I.1 Integrate SIR Plan data in existing AM software
  • I.2 Establish data standards
  • F.1–F.5 Financial recommendations found within SIR Plan
  • P.1 Establish cross departmental AM working group
  • P.2 Provide AM training organization wide
Radar chart showing current maturity, forecasted maturity for 2026, and target maturity across categories including policy and objectives, strategy and roadmap, measurement and monitoring, cross-functional teams, accountability, resourcing and commitment, asset data, performance data, financial information, documentation and standardization, asset management plans, budgets and financial planning, training and development, internal communication and knowledge sharing, and external communication and knowledge sharing.
Radar chart showing current maturity, forecasted maturity for 2026, and target maturity across categories including policy and objectives, strategy and roadmap, measurement and monitoring, cross-functional teams, accountability, resourcing and commitment, asset data, performance data, financial information, documentation and standardization, asset management plans, budgets and financial planning, training and development, internal communication and knowledge sharing, and external communication and knowledge sharing.

Levels of service – What are they?

  • Services provided by Council can be provided at varying levels of quality, risk, and performance

Levels of service – why define them

  • Varying levels of service have varying costs
  • Council’s role to set vision for community services and balance that with community affordability
  • Each member of Council, and each member in the community will have a different opinion of the right balance

Levels of service – Examples

Asset Class Level of Service What does this mean
Tier 1 Distribution Main Maximum 1 main break per segment Replacement watermain when it is anticipated to reach 1 break
Roads – Collector Minimum 91 score Pavement Condition Index Structure maintained in good condition
Storm Sewers Maintain PACP condition grade at level 4 Storm sewer mains are replaced when they experience sever defects
Building Accessibility features rating B or higher Building has appropriate amenities for staff and the public, and can be accessed easily

Levels of service – Choices

  • Council will be able to choose between several options
  • Council may choose to increase or decrease LOS based on community affordability
  • The Town will have the ability to truly engage the community in budget consultation
Asset Class Level of Service Annual lifecycle cost
Roads – Collector Minimum 91 score Pavement Condition Index $115,000
Roads – Collector Allow PCI score to fall to 81 $75,000
Storm Sewers Maintain PACP condition grade at level 4 (sever defects) $50,000
Storm Sewers Increase PACP condition grade to level 2 (moderate defects) $83,000
Building Municipal Facilities meet BC Energy Step code 3 $100,000
Building Municipal Facilities meet BC Energy Step code 5 $500,000
  • LOS will drive operations
  • LOS will determine what gets integrated into long term financial plan (and 5-year financial plan)
  • Council may choose to refine LOS at any point
Process flowchart with arrows indicating a cycle: Establish LOS -> Fund LOS by Integrating into LTFP -> Conduct Operations according to LOS -> Refine as desired.
Process flowchart with arrows indicating a cycle: Establish LOS -> Fund LOS by Integrating into LTFP -> Conduct Operations according to LOS -> Refine as desired.
Page 79–85

Discussion and Questions

REPORT RECOMMENDATION

THAT the Committee recommend to Council that the financial implications of the Asset Management Strategy be incorporated into the Draft 2024-2028 Financial Plan for discussion at the February 2024 budget meetings.

Page 79–85

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Extracted from: 2024 01 09 Committee of the Whole Agenda - Agenda - Pdf