Asset Management

Our 2021 Asset Management Plan, approved by Council on June 9, 2021, describes the value, age, and condition of the City’s assets; the actions performed to manage our assets; how well those actions are working; and how much these actions cost.

In addition to establishing compliance ahead of the regulatory deadline, the scope of the 2021 Asset Management Plan includes assets that the City classifies as Core+. Core+ encompasses the definition of “core municipal infrastructure assets” as outlined in O. Reg. 588/17 plus the addition of the City’s active transportation infrastructure (within right-of-way) and recreation facilities (community centres and arenas).

• Roadway System (Core)
• Water Distribution System (Core)
• Wastewater Collection System (Core)
• Stormwater Management (Core)
• Recreation Facilities (+)
• Active Transportation (+)

Moving forward, the City will be updating its Asset Management Plan in line or ahead of the next 2024 regulatory requirements.

The 2021 Asset Management Plan is the result of recent advancements in the City’s asset management planning capabilities, in particular the Enterprise Asset Management system.

The system is a web-based software application developed in-house by City Staff across our service areas. It provides current and forecasted information on our assets to support infrastructure investment decision-making. Using the application, we are able to use current asset information and forecast the impacts of different funding levels on condition and service levels and prioritize City projects such that funding is used as efficiently as possible on work that matters most to the City.

The City’s Asset Management Planning Process is built on a robust framework which details specific guiding principles, business practices, initiatives for continuous improvement, and defined roles and responsibilities. Richmond Hill’s principles and commitments to asset management planning are outlined in the City's Asset Management Policy, which was endorsed by Council on May 28, 2019. The Asset Management Policy conforms to the prescribed requirements in O. Reg. 588/17.

The Policy establishes sound asset management principles, including fiscal responsibility, consideration of risk, alignment with Strategic Priorities and Official Plans, and the commitment to share the Asset Management Plan with the public. These principles are integrated with ongoing capital, operations, and maintenance activities, through the City’s Asset Management Strategy and Asset Management Plan.