Asset Management

The Municipality of Central Elgin’s Asset Management Plan outlines a comprehensive approach for planning, prioritizing, and managing investments across the municipality’s diverse asset portfolio. Its purpose is to define how assets are maintained, renewed, and expanded in a way that supports Central Elgin’s strategic objectives, that meets legislative requirements, and that sustains quality services for the community, both now and in the future.

• Establishes Central Elgin’s commitment to implementing asset management methods that align with strategic goals and objectives, ensuring consistency across all asset management practices.
• Provides stakeholders with clear insight into how Council and staff make asset-related decisions, integrating strategic plans, budgets, levels of service, and risk considerations.
• Outlines and shares the asset management principles and approach, ensuring residents, Council, and staff have a shared understanding of the direction and priorities.
• Embeds asset management principles to ensure service delivery approaches remain financially sustainable, delivering optimal value for stakeholders while maintaining affordability.

Why Invest in Asset Management

Asset Management:

• Assists in the protection and enhancement of the Municipality's quality of life by ensuring the best possible decisions are made regarding our assets
• Encourages evidence-based budgeting and long-term financial forecasting
• Drives longer term thinking and planning
• Supports financial sustainability

Many provincial and federal grant programs require asset management planning for municipalities to be eligible for funding.

View the Asset Management Plan