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Goal: Build financial reserves for infrastructure replacement

Objective: Implement plan for building reserves to an adequate level

Action Items:

Þ      Make budget recommendations based on required level of service and reserve balance

Relevant Pillars: economic sustainability


Goal: Develop long-term plan to build reserves to an adequate level to fund the replacements and maintenance of City's assets

Objective: Increase funding to financial reserves for the replacement and maintenance of infrastructure

Action Items:

Þ      Establish adequate annual contribution levels for reserves to ensure appropriate replacement and maintenance of all City assets

Relevant Pillars:economic sustainability


Goal: Identify controls, proper practices and procedures to ensure that assets are appropriately identified annually

Objective: Initiate Asset Management Program

Action Items:

Þ      Refine policies and procedures for tracking the City's assets

Þ      Meet PSAB 3150 reporting requirements for financial statements and incorporate tangible capital asset management into the City's financial system.

Þ      Develop fifty-year asset life cycle maintenance plan

Þ      Develop fifty-year capital asset replacement plans (assets that do not meet TCA thresholds)

Objective: Provide a tool for management to make financial decisions on repair versus replacement of the City's assets.

Action Items:

Þ      Implement maintenance management system (Maintenance Connection)

Relevant Pillars: economic sustainability


Goal: Undertake budgeting and full cost planning for new projects

Objective: New projects are analyzed to ensure full-cost planning that incorporates both capital and operating considerations

Action Items:

Þ      Develop and introduce guidelines to identify full costs (capital and operating) of new projects for all departmental budget submissions

Relevant Pillars: economic sustainability


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Last updated: 05/12/2011 1:56:14 PM