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unofficial consolidation, the official version is held by the municipal clerk.
Asset Management Policy
Policy Name:
Asset Management Policy
Policy No.
Effective: 2023 06 26
Amended:
Renewal date: 2026 12 31
1. PURPOSE:
The Town of Oxford is committed to improving the long-term sustainability of our
infrastructure through this asset management policy. This provides a consistent
framework for service delivery and infrastructure planning. It provides guidance to
Council and staff to develop transparent and accountable processes to demonstrate the
legitimacy of decision-making which combines strategic plans, budgets, service levels
and risks.
2. STRATEGIC ALIGNMENT:
The principles in this asset management policy and our asset management planning will
align with the vision and values our community has been built on and the strategic
direction we have planned for our community's future as outlined in the Town's Strategic
Priorities, Source Water Protection, Municipal Planning Strategy, Debt Affordability, and
Master Recreation Plans.
3. SCOPE:
This policy applies to assets owned and managed by the Town of Oxford but does not
apply to Cumberland Joint Services Management Authority assets or equipment located
at the Town of Oxford Transfer Station.
4. PRINCIPLES:
4.1 Service Delivery to Community:
Our Town, through transparent, accountable, and informed decision-making
processes, will clearly define level of service objectives that balance community
expectations and regulatory requirements with risk, affordability, and available
resources.
Town of Oxford
Asset Management Policy
Page 1
2024 02 28
4.2 Holistic Approach:
Our Town will take an integrated and coordinated approach to decisions on infrastructure
maximizing value to the community in a larger service delivery context, not just as an
isolated asset.
4.3 Long term Sustainability and Resilience:
Our Town will consider socio-cultural, environmental, and economic factors and
implications when making and implementing asset management decisions.
4.4 Fiscal Responsibility and Asset Management Decision-Making:
The Town will choose practices, interventions and operations that aim at reducing the
lifecycle costs of asset ownership, while satisfying agreed levels of service. Decisions are
based on balancing service levels, risks, and affordability.
4.5 Continuous Improvement:
To ensure Council is supported in making well-informed decisions based on good
information and advise, our municipality commits to:
- Supporting asset management awareness and training for staff and council in
accordance with their respective roles and responsibilities
- Progressing in the asset management process
- The integration of asset management systems
- Community engagement
5. Roles and Responsibilities:
The CAO has overall responsibility for asset management planning for the Town and is
responsible for:
-
Overall compliance with asset management policy
-
Assignment of responsibilities to staff and ensuring they understand the policy
requirements and are empowered to implement asset management planning in accordance
with this policy.
The council has overall responsibility on behalf of residents to provide services that the
community needs and is willing to pay for. The Council is responsible for providing services at
an appropriate cost while managing long-term risk. Council will:
-
Approve by resolution the asset management policy and any amendments.
-
Approve by resolution asset management plans and budgets.
-
Use this policy as key guidance in asset management decision-making.
-
Ensure this policy is reviewed and/or renewed not later than December 31, 2026.
2024 02 28
Linda Cloney, CA
Date
Town of Oxford
Asset Management Policy
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