Infrastructure Asset Management

Infrastructure assets exist to provide services to our community. Managing our assets to deliver those services is asset management. Municipal assets are publicly owned infrastructure, such as a road, water pipe, streetlight, or The Fenlands Banff Recreation Centre. Asset management is an integrated approach, involving all departments, to effectively manage existing and new assets with a focus on maximizing benefits, reducing risks, and providing satisfactory levels of service. Good asset management practices are fundamental to achieving sustainable communities.

Asset Management Policy 

The Town of Banff’s Asset Management Policy was approved in 2021 to define the approach to asset management and provide guiding principles to administration. 

Asset Management Strategy

The Town’s Asset Management Strategy is a document that defines the municipality’s asset management objectives and strategies for achieving the Policy requirements. Council approved our Asset Management Strategy in September 2022. 

Asset Management Plan 

An asset management plan is a strategic document that provides summary level information about the quantity, quality, average age, and replacement value for a particular asset category. It also identifies current levels of service; asset lifecycle management; and financial data including current and future costs to maintain assets in good working condition. 

Administration is currently developing asset management plans for the stormwater system, transportation network, wastewater system and water distribution system. 

Tangible Capital Assets

In accordance with the Public Sector Account Board every municipality in Canada must report on the historical cost, amortization expense and accumulated amortization of its capital assets. The Town of Banff has a complete record of its tangible capital assets (TCA), which include land, land improvements, buildings, engineered structures (such as roadways, water systems, wastewater system, storm water system), machinery and equipment, vehicles, and cultural and historical assets.

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