Asset Management Plan

Asset management can be best defined as an integrated business approach within an organization with the aim to minimize the lifecycle costs of owning, operating, and maintaining assets, at an acceptable level of risk, while continuously delivering established levels of service for present and future customers. It includes the planning, design, construction, operation and maintenance of infrastructure used to provide services. By implementing asset management processes, infrastructure needs can be prioritized over time, while ensuring timely investments to minimize repair and rehabilitation costs and maintain municipal assets.

Corinth Asset Management Plan

This AMP is one component of Corinth’s overarching corporate strategy. It was developed to support the City’s vision for its asset management practice and programs. It provides key asset attribute data, including current composition of the City’s infrastructure portfolio, inventory, replacement costs, useful life etc., summarizes the physical health of the capital assets, enumerates the City’s current capital spending framework, and outlines financial strategies to achieve fiscal sustainability in the long-term while reducing and eventually eliminating funding gaps.

This AMP is developed in accordance with international best practices in asset management. The following asset classes are analyzed in this document: road system; bridges & culverts; water; wastewater; stormwater; facilities; and machinery & equipment.