Asset Management Plan

Asset Management in the Town of Grimsby

Asset Management (AM) is an integrated set of strategies to support decisions regarding building, operation, maintaining, renewing, replacing and disposing of infrastructure assets. The aim of AM is to sustain municipal infrastructure systems in a manner that meets the desired service levels while balancing risks and lifecycle costs. 

Grimsby's Approach to Asset Management 

• The Town has created an Asset Management Team that allows for collaboration across all departments to meet the Asset Management goals of the Town
• Knowing what assets the Town is responsible for by keeping an asset register in the Town's GIS (Geographic Information System)
• Keeping track of the condition of these assets, through condition assessments and other methods
• Maintaining and taking care of these assets to ensure they are used to their full service life
• Budgeting for necessary infrastructure replacement

Asset Management Policy

The Town of Grimsby has developed an asset management policy that a number of key goals:

• Provide consistent and accurate means of tracking and reporting on Town assets and improving decision-making accountability and transparency
• Provide a framework that enables the Town to implement plans, define goals, and work toward enterprise asset management to achieve medium and long term sustainability and demonstrate fiscal stewardship
• Meet legislative reporting and organization financial planning requirements
• Improve customer service

Learn more about the Town of Grimsby's Asset Management Policy.

Strategic Asset Management Plan

The Town of Grimsby is actively working on the implementation of an Asset Management (AM) system. In 2019, the Town developed a Strategic Asset Management Plan (SAMP) to help guide the Town's Asset Management System. The SAMP plays a key role in explaining the method in which the commitments and principles described in the Town's AM Policy will be implemented, and to ensure that they are connected to the Town's Asset Management Plans. The Town's AM System is illustrated below.

2022 Core Infrastructure Asset Management Plan

The Town updated their Core Infrastructure Asset Management Plan in 2022 to meet O.Reg.588/17 Infrastructure for Jobs and Prosperity Act, 2015, Asset Management Planning for Municipal Infrastructure. This plan is an integral part to the Town's Asset Management Program, and in the future will be tied to how we do business, including capital plans and budget.

The estimated replacement value of the Town's core assets is $768.4 million, as shown in the Table below.

The Town's core assets are generally in good condition, as shown in the condition distribution Figure below. 90.2% of the Town's assets are estimated to be in Fair condition or better. 

Learn more about the 2022 Infrastructure Asset Management Plan. This plan will be updated to include the remaining asset classes prior to the July 2024 O.Reg. 588/17 deadline. These materials are available in alternate format, upon request.