The Town of Innisfil owns and manages a large range of assets on behalf of our community. These assets deliver a number of services that must be managed in a cost-effective way, while ensuring they continue to meet the needs of the community now and in the future.
What is asset management?
Asset management is the planning, organizing, leading and controlling of financial and technical processes to meet established levels of service. Asset management intervenes at strategic points in an asset’s life cycle to extend the expected service life and maintain its performance. When
maintenance activities are scheduled strategically it helps decrease costs by avoiding expensive unplanned or excessive maintenance.
What is an asset management plan?
An asset management plan is a strategic document that provides summary level information about the quantity, quality, average age, and replacement value for a particular asset category. It also identifies:
- Levels of service
- Risk management
- Future and climate demands
- Lifecycle management (acquisition, operation, maintenance, renewal, and disposal of assets)
- Financial summary
- Monitoring and improvement
Asset management plans
The Council Approved Asset Management Plan includes three phases:
- Phase I was completed in 2022 with information about the Town's core infrastructure assets:
- Phase II, to be completed by July 2024, includes non-core assets such as facilities, fleet, parks, and recreation equipment and road signs
- Phase III, to be completed by July 2025, outlines more details about future levels of service and financial plans to deliver Phase 1 and 2
Past asset management plans
- Parks and Buildings Asset Management Plan, 2016
- Parks and Facilities Asset Management Plan, 2016
- Roads and Stormwater Asset Management Plan, 2014
Asset management policy
The Town of Innisfil's Asset Management Policy was approved in 2019 to outline the goals of providing the best possible service to residents in a consistent and responsible way.
Understanding our assets
An asset is an item of property owned by Innisfil that is deemed to have value. Innisfil’s assets include core
infrastructure assets (e.g. roads, bridges, structural culverts, and stormwater elements) and non-core assets (e.g. buildings, land, vehicles, and playground equipment).