Published on December 16, 2019
Managing our Assets
Municipalities across Canada are facing the common challenge of how to repair, maintain and replace (RMR) their aging infrastructure. The City of St. Albert has taken a proactive and fiscally responsible approach over the years, building up various reserves to partially fund RMR costs. Council also approved a 1.5 per cent increase to property taxes over the next three years, which will be dedicated exclusively to RMR projects, while the City comes up with a longer-term solution.
This foresight has placed St. Albert is in an enviable situation compared to many other municipalities. However, there is always room for improvement. The City is working on developing a more robust asset management plan, one that goes beyond lifecycle maintenance to consider things like climate adaptation costs. We will be working on completing this more robust plan over the next few years.
The Federation of Canadian Municipalities (FCM) has produced an amazing video that clearly outlines some of the universal issues faced by St. Albert and other municipalities. It also explains the important asset management plays in our approach. Best of all, it uses everyday language to convey complex concepts in a way we can all understand.
Last edited: December 16, 2019