Corporate Asset Management
York Region provides services to residents and businesses using assets such as roads, buses, watermains, sewers, buildings and living assets like street trees. As the Region grows, we are committed to meeting customer expectations about service levels by maintaining our current assets in good condition and ensuring we have the resources to support future assets.
In 2017, the Ontario government introduced Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure (O.Reg. 588/17) under the Jobs and Prosperity Act, 2015. This regulation ensures asset management plans are consistent across the province and are integrated with financial planning.
Provincial requirements under O.Reg. 588/17 include:
- By July 1, 2019: Develop a strategic asset management policy
- By July 1, 2022: Develop an asset management plan that includes current levels of service for core assets (as defined by O.Reg. 588/17)
- By July 1, 2024: Develop an asset management plan that includes current levels of service for non-core assets
- By July 1, 2025: Develop an asset management plan that includes current and proposed levels of service for all infrastructure and a strategy for managing assets over their lifecycle and finances
- Annually by July 1: Review progress on asset management
- Every five years: Update the asset management plan
The 2024 Corporate Asset Management Plan simultaneously fulfilled the 2024 and the 2025 legislated milestones by identifying the current and proposed levels of service for both core and non-core assets. This resulted in the Region meeting all requirements for developing an asset management plan a year early.
Corporate Asset Management Policy
First adopted by York Regional Council in November 2013, York Region’s Corporate Asset Management Policy sets clear goals for managing the Region’s assets. The policy ensures the Region meets both legislative requirements and resident expectations and aligns with the Region’s Vision, Strategic Plan and Fiscal Strategy.
The policy was last updated in May 2024. Together with the 2024 Corporate Asset Management Plan, it is guided by the following principles:
- Leveraging data and innovation: The Region will adopt industry-leading asset management practices and use innovative technologies and approaches to identify priorities and make informed decisions about our infrastructure
- Financially-sustainable lifecycle management: Planning will be coordinated with the Region’s Multi-Year Budget and Fiscal Strategy to ensure we provide quality service at an affordable cost
- Climate change mitigation and adaptation: In accordance with the Region’s Climate Change Action Plan, proactively identify ways to adapt to and mitigate climate change, including a review of emergency management and contingency funding opportunities; infrastructure will be designed to minimize environmental impacts and be resilient to the effects of climate change; additionally, the Region will aim to reduce waste and conserve resources throughout an asset’s lifecycle to advance the circular economy
- Community engagement: The Region will engage with the community during asset management planning process to enhance accountability and transparency
Asset Management Framework
The Region’s Asset Management Framework supports the Corporate Asset Management Policy by outlining organizational requirements and providing direction and guidance for asset management decision-making.
The Framework has three levels:
- Strategic
- Tactical and Operational
- Customer
Corporate Asset Management Plan
Approved by York Regional Council in May 2024, the 2024 Corporate Asset Management Plan outlines how York Region will provide safe, reliable and cost-effective services, maintain and care for the assets that deliver these services and ensure sustainability today and in the future.
The plan describes:
- Current and proposed levels of service
- Estimated costs to meet growth needs over the same period and availability of funding
- Estimated costs to provide levels of service over the next 10 years and availability of funding
- How we are continuously improving asset management planning
- Lifecycle activities to achieve levels of service including actions to address climate change impacts
- State of infrastructure by asset category
In addition to meeting provincial requirements one year in advance of July 1, 2025, the Plan aligns with the Region’s Vision, Strategic Plan, internal policies and industry best practices for asset management.
Corporate State of Infrastructure Report
The Corporate State of Infrastructure Report (SOIR) provides an overview of the state of Regional infrastructure assets critical for delivering essential community services across 13 service areas.
By monitoring the condition, value and funding needs of these assets, we can ensure they continue to perform well and meet service expectations.
Starting in 2025, Regional Council will receive updates through an annual Corporate Asset Management Progress Report as part of O. Reg. 588/17 requirements. The progress report will combine the annual SOIR contents into a single report, which will be posted here.
