Asset Management

Important to all municipalities

All Alberta municipalities own, operate, and maintain various infrastructure assets, such as roads, sewers, and municipal buildings, each with a defined service life. Service life is the length of time an asset provides an acceptable level of quality, quantity, reliability, cost and responsiveness. Municipalities must ensure the full service-life is attained while keeping maintenance, rehabilitation and/or the replacement of assets cost-effective. This hub offers information and resources to help municipalities build a tactical framework and address their social, economic and physical needs through the creation and implementation of an asset management plan.

Asset management not only looks at life cycles and full cost accountability, it can also be used by any and every department within a municipality to guide infrastructure planning and development. It helps ensure responsible stewardship for the public works sector, administrative accountability and public transparency.

Proper asset management is not just a good idea; it’s a requirement. The Municipal Government Act requires every Alberta municipality to complete and submit annual audited financial statements to Municipal Affairs by May 1 of each year. The financial statements must be prepared in accordance with generally accepted accounting principles for municipal governments in Canada. Accounting standards set by the Public Sector Accounting Board (PSAB 3150) in 2009 require municipalities to record and report their non-provincial engineered public infrastructure (tangible capital assets) in those financial statements.

Asset Management Courses Available

Alberta Municipalities, in partnership with the Rural Municipalities of Alberta (RMA) and Infrastructure Asset Management Alberta (IAMA) with a grant from the Federation of Canadian Municipalities (FCM), offered a series of courses on asset management for elected officials and municipal staff in 2017/2018. Course materials are now being offered here on the Alberta Municipalities' website, free of charge; click the Asset Management Courses tile below to access and find more information about each of the courses.

Alberta Municipalities, RMA, and IAMA have been approved for a fourth round of partners’ funding to offer another series of workshops to municipal administrators and elected officials. More details about applications will be announced shortly.