Infrastructure is inextricably linked to the economic, social and environmental advancement of a community. Municipalities own and manage nearly 60% of the public infrastructure stock in Canada. As analyzed in this asset management plan (AMP), the Municipality of Chatham-Kent's infrastructure portfolio comprises its road network, bridges and culverts, buildings, storm, land improvements, the municipal airport, vehicles, and machinery and equipment.
This AMP details the state of infrastructure of the municipality's service areas and provides asset management and financial strategies designed to facilitate its pursuit of developing an advanced asset management program and mitigate long-term funding gaps.
In order for an AMP to be effectively put into action, it must be integrated with financial planning and long-term budgeting. The development of a comprehensive financial plan will allow the municipality to identify the financial resources required for sustainable asset management based on existing asset inventories, desired levels of service, and projected growth requirements.