Asset Management
The District of Sechelt is committed to providing services to residents in a fiscally responsible manner that encourages long term sustainability.
These services often include the addition, operation, maintenance, renewal and disposal of assets. To achieve sustainable service delivery we need to coordinate the management of assets in way that recognizes a holistic approach with a focus on long term decisions that benefit the community. This means the District of Sechelt and residents need to work together to create systems and practices that encourage best value of funds, staff resources and community effort.
What is an asset?
An asset is an item, thing or entity that has potential or actual value. This value can be tangible or intangible, financial or non-financial, and includes consideration of risks and liabilities. Examples of assets include but are not limited to: transportation pathways, pipes, buildings, playground equipment, sculptures, trees and storm management systems.
How does this apply to me a resident?
The District of Sechelt is serious about asset management. That's why council in April of 2022 adopted an Asset Management Policy outlining the framework for how we should continue to manage our assets. This framework is only the beginning. Good asset management begins with an understanding between The District and its residents on what services are priorities and how much we are willing to pay for those services. We want residents to understand the services that are being provided, the risks associated with those services and the costs associated with maintaining or increasing those levels of service.
What is the District doing now, what are the next steps?
With Council approving the Asset management policy, city administration is working towards integrating procedures to carry out this policy as well as making preparations for an asset management strategy. In the meantime staff have developed data driven yearly assessments on assets that provide services to our residents. These asset report cards are included in the budget book each year. The focus moving forward is having an asset registry cataloging every major asset component and having their conditions assessed. This will help to inform our asset report cards more clearly.
2022 Asset Report Cards 2023 Asset Report Cards 2024 Asset Report Cards
Staff are measuring the progress of our asset management program not only by the data, tools and overall improvement of information we provide and utilize but also by nationally recognized scales. The asset management readiness scale is completed each year by staff to show progress made.
National Average of "Mid Sized" Municipalities as of 2022-- 7/25
DOS 2021- 3.5/25 DOS 2022- 6/25 DOS 2023- 7/25 DOS 2024- 9/25