City Council Approves 2021 Asset Management Plan: Renews Commitment to Community Vitality, Growth & High Quality of Life
MAYOR MEED WARD'S TAKE:With this new 2021 Asset Management Plan, we can be confident we are investing in our future by monitoring the health of our considerable infrastructure assets and reinvesting in their maintenance, renewal and replacement in a timely and cost-effective manner. Burlington is a leader in proactive asset management planning and I congratulate staff’s work in preparing our comprehensive 2021 Asset Management Plan and its accompanying Asset Management Financing Plan. Infrastructure assets provide significant recreational enjoyment and enable a high-quality of life for our residents and are essential to the smooth functioning of our city as a business and economic hub in the GTA. With these plans in place, we are well-positioned to deliver a cost-effective, sustainable approach to infrastructure asset management.--*Please see below a new release issued by the City of Burlington.
Burlington, Ont. — Nov. 24, 2021 — Burlington City Council approved the 2021 Asset Management Plan, and accompanying 2021 Asset Management Financing Plan, yesterday at its regular meeting of City Council. The plan, updated every five years, monitors the overall health and investment needs of the City’s $5.2 billion in infrastructure assets.The City of Burlington’s infrastructure assets are fundamental to supporting the community’s economic, social and environmental well-being and growth, and represent 70 per cent of the City’s annual capital budget.The City’s $5.2 billion in infrastructure assets include:
- $2.43 billion in transportation assets
- $996.8 million in stormwater assets
- $632.5 million in recreation, community and cultural assets
- $300 million in urban forestry assets
- $248.8 million in parks assets
- $148.3 million in corporate facilities
- $130.6 million in transit assets
- $119.9 million in parking assets
- $82.6 million in fire assets
- $65.8 million in IT assets
The new, 2021 Asset Management Plan will enable City staff to make informed, proactive decisions regarding the acquisition, construction, operation, maintenance, renewal, replacement, expansion and disposal of the City’s infrastructure assets.The 2021 Asset Management Financing Plan provides a 60-year funding strategy for the City's infrastructure renewal needs. It is aligned with the City’s Strategic and Long-Term Financial Plan.
"At the City of Burlington, we take a comprehensive, proactive approach to managing the City’s $5.2 billion in infrastructure assets. With our new five-year Asset Management Plan, we will minimize risk, manage costs and optimize our service delivery options on behalf of residents and businesses. Along the way, using Life-cycle Cost Analysis, in combination with regular monitoring of our infrastructure assets, we will continuously update our plan to achieve peak reliability and availability." -- Andrew Maas, Manager of Asset Planning
Quick Facts
- The City takes a Life-cycle Cost Analysis (LCCA) approach to managing its infrastructure assets. The benefit of LCCA is that it helps identify the most cost-effective option among different competing alternatives to purchase, own, operate, maintain and dispose of assets.
- The City of Burlington bases its asset management system on the ISO 55001 International Standard and guidance from The Institute of Asset Management.
Links and Resources:
- For more information about Burlington’s 2021 Asset Management Plan, visit Asset Management Plan.
- To learn more about the 2021 Asset Management Financing Plan, see Asset Management Financing Plan.
--*Posted by John Bkila, Mayor's Media and Digital Communications Specialist