Asset Management

Richmond Hill's mandate as a local government is to deliver a wide variety of services to our community.  Infrastructure assets, like buildings, roads, parks and water pipes are required to provide these services. All told, Richmond Hill has approximately 50,000 traditional infrastructure assets representing an investment of several billion dollars, as well as roughly 45,000 street trees and nearly 700 hectares of natural forest that need to be maintained and eventually replaced.

Richmond Hill has been managing infrastructure assets ever since the City was founded. Richmond Hill's Asset Management Policy was endorsed by Council on May 28, 2019. The purpose of this Asset Management Policy is to outline the City of Richmond Hill’s commitment to corporate asset management planning. Principles include fiscal responsibility, consideration of risk, alignment with Strategic and Official Plans, and commitment to share Asset Management Plan with the public.

This Policy is established to embed sound asset management principles into ongoing capital, operations, and maintenance activities, through the City’s Asset Management Strategy and Asset Management Plan. This will ensure that infrastructure is management responsibly.

This Asset Management Policy conforms to prescribed requirements from Ontario Regulation 588/17 (O. Reg. 588/17), as amended.

Our current Asset Management Plan (2016) provides a single document that describes what is being done to manage our assets, how well those actions are working and how much it will cost to maintain our assets and services. By bringing all of this information together, strengths and opportunities in the City's processes can be identified and strategies created to improve tomorrow's outcomes. The corporate Asset Management Plan gives direction to specific annual infrastructure investments through the Ten Year Capital Forecast.

The City plans to update the current AMP in two phases. The first update will be completed early 2021 and, as defined in O.Reg. 588/17 will focus on “Core Assets” (road, bridge, culvert, storm, water, and wastewater assets). The second update will include all assets owned and/or operated by the City, and this update will be completed in early 2023.