Town of Bancroft's 2022 Asset Management Plan
A new 2022 Asset Management Plan was adopted by Town Council on June 7th, 2022 at 3:00 p.m. at a meeting of Regular Council.
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7 June 2022 - Town of Bancroft Council Meeting Agenda
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Watch a recording of the Regular Council meeting on June 7th
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View a copy of the asset management plan shared during the Council meeting on June 7th
The Town of Bancroft's approximately $84.4M in infrastructure assets support our community's economic, social and environmental growth and well-being.
The Town's infrastructure assets include:
• Roads, sidewalks, streetlights, parking
• Bridges
• Water and wastewater
• Recreational facilities and buildings
• Stormwater infrastructure such as pipes, culverts and stormwater management ponds
• Parks and living assets (urban forestry)
• Fleet vehicles (i.e., fire trucks, snow plows)
• Equipment such as playgrounds, lawn mowers, electric vehicle charging stations, and firefighting equipment
Asset management plan (AMPs) inform and support evidence-based decision making and development of strategies to extend the service life of assets while managing risk and meeting regulatory and service expectations. These AMPs benefit the Town by forecasting the investment needs of the roads and storm, bridges, water, and wastewater assets and identifying how to prioritize allotment of the Town's budget.
The financial forecasts developed in the AMPs suggest a total reserve of approximately $1.24M for the next five years. For the long-term financial sustainability of these core services, there is an anticipated renewal demand averaging $2M per year over the next 25 years for the existing asset portfolio.
For the Municipal Asset Management Plan click
here and capital planning, please click
here.