What is asset management?
Asset management is an organization’s planned approach to realize value from its assets. As a municipality, corporate asset management helps us care for the infrastructure that delivers services that contribute to the quality of life of the community. Asset Management is an on-going process and a journey that seeks incremental improvement overtime.
The City of Brampton owns and operates a substantial portfolio of assets across different service areas. These assets are essential to the well-being of the community and form an integral part of the City’s long-term financial and service delivery planning.
- The Province of Ontario published ‘Building Together: Guide for Municipal
Asset Management Plans’ (AMP) to encourage and support municipalities in Ontario to develop AMP(s) in a consistent manner.
- Established Corporate Asset Management Office (CAMO)
- Municipalities to have an approved asset management plan for all municipal infrastructure assets.
- Expand asset management plans to include proposed level of service and a sustainable long-term financing strategy to achieve those levels.