Asset management is an integrated process, bringing together skills, expertise and activities of people; with information about a community’s physical assets; and finances; so informed decisions that support sustainable service delivery can be made. To achieve sustainable service delivery, it is necessary that local governments assess, plan, and implement asset management practices that are tailored to the specific needs and capacity of individual local governments.
With the approval of the 2024-2034 Renewed Agreement, all signatories agreed that continuing to strengthen local governments’ capacity to undertake asset management is integral to building strong cities, communities and regions. The Agreement identifies that the CCBF Oversight Committee consider asset management commitments under the following areas:
- Reporting on continuous improvement of asset management practices over the duration of the Agreement, including reporting through the Ministry of Municipal Affairs Local Government Data Entry (LGDE) system,
- Development and implementation of long-term financial plans,
- Reporting on asset management education and training, and
- Implementing asset management performance measurement.
On October 21, 2024, the BCSF – Community Stream Oversight Committee further clarified the asset management commitments, including specific requirements and timelines. Ultimate recipients are required to report asset management progress and UBCM will include the results in the annual outcome report.
Resources
The approach to asset management identified by the Renewed Agreement continues to align with Asset Management BC’s (AMBC), Asset Management for Sustainable Service Delivery: A BC Framework. Under the Renewed Agreement, AMBC has been asked to provide expertise and input where appropriate. AMBC has developed various resources to support local governments in meeting their asset management commitments that include;
Additional tools and resources are available through Asset Management BC, a leader in building awareness, education, and supporting collaboration between local governments on the path toward sustainable service delivery.
Reports and Surveys
Please refer to the Reports and Presentations page of the BCSF – Community Stream directory on the left-hand side of your screen for UBCM reports and presentations related to asset management.