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Municipality of Richmond County
Asset Management Policy
MUNICIPALITY OF THE COUNTY OF RICHMOND - ASSET MANAGEMENT
1. Purpose: This asset management policy formalizes the municipality's commitment to the
long term sustainability of our infrastructure. This policy provides guidance to Council and
staff on identifying priorities, managing risk and meeting its service delivery goals.
2. Strategic Alignment: The principles in this Policy and our asset management planning will
align with the vision and values of our community and any approved capital and strategic
plan.
3. Scope: This policy applies to all assets owned by the Municipality of the County of
Richmond with the exception of jointly owned assets including those owned by the Landrie
Lake Water Utility, the St. Peter's Sampsonville and Area Water Utility and property owned
by the Joint Development Commission.
4. Guiding Principles:
Principle One - Service Delivery to Customers:
Our municipality will clearly define level of service objectives that balance community
expectations and regulatory legislative and statutory requirements with risk, affordability and
available resources.
Principle Two - Holistic Approach (Integrated Decision-making):
Our municipality will take an integrated and coordinated approach when making decisions about
renewing and replacing existing assets or building new assets, taking into consideration the
impacts on other services and departments.
Principle Three - Long term Sustainability and Resilience:
Decisions on infrastructure will consider impacts on changing demographics, socio, economic
and environmental/climate change impacts.
Policy Notice Given: April 12, 2021
Policy Review Date: March 22, 2021 (By-Law Committee)
Approved by Council: April 26, 2021
I certify this to be a true copy of the Asset Management Policy as adopted by the
Municipal Council of Richmond County at a Public Meeting held April 26, 2021.
______________________
Yvonne Boudreau
Municipal Clerk
Municipality of Richmond County
Asset Management Policy
Principle Four - Fiscal Responsibility and Asset Management Decision Making:
Consideration will be given to all life-cycle cost including the cost to build, operate and maintain
infrastructure in budgeting and financial planning. Decisions are based on balancing service
levels, risk and affordability.
Principle Five - Continuous Improvement:
To ensure Council is supported in making well informed decisions based on good information
and advice, our municipality commits to;
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
5. Roles and Responsibilities:
Our Council is responsible for:
- Approving asset management policy
- Defining priorities with consideration of community values
- Approval of funding and resources to implement the AM policy and associated requirements
- Approval of asset funding through multi-year and long-range financial plans
The CAO is responsible for leading implementation of the asset management policy. The CAO
is also responsible for the 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.
This asset management policy will be reviewed no later than two years following initial
adoption.
Conflict of Interest Policy
Notice Given:
April 12, 2021
Motion to Adopt:
April 26, 2021
Version
Number
Amendment Description
Council Approval
Date
1
Adoption
April 26, 2021