Province Extends Asset Management Planning Timelines
The Ontario government is extending its Asset Management Planning Regulation timelines by one year.
The next deadline is July 2022, by which time municipalities must develop an Asset Management Plan that includes core infrastructure assets with current levels of service.
AMO has been supporting municipal sector progress in asset management through its capacity building projects, policy directives and administration of the federal Gas Tax Fund.
Under the Gas Tax Agreement, municipalities are developing and implementing asset management plans.
Municipalities are to demonstrate how federal Gas Tax Funds are being used to address priority projects in their Asset Management Plans. Specific requirements align with the Regulation.
These requirements are expected to continue as the federal Gas Tax Fund program transitions to the Canada Community-Building Fund.
The recent announcement of a one-time top up, of which Ontario would receive over $816 million, is intended by the federal government to play a critical role in supporting a safe restart and help reduce the risk of infrastructure projects being delayed or cancelled in 2021-22.
This funding will help increase the amount of investment municipalities can bring to their communities immediately and improve services to reach longer-term economic and social objectives.
AMO can help – contact us for support with municipal asset management. The support available includes giving feedback on current asset management plans.
