Bruce County Asset Management Plan Endorsed

On Thursday, August 15, 2024, Bruce County Council endorsed the County’s Asset Management Plan. This plan is a provincial requirement for all municipalities. The County’s Assessment Management is a long-term capital reinvestment plan to ensure the sustainable delivery of municipal services. It also is an essential element of advancing the County's Strategic Plan and delivering on Good Governance and Financial Sustainability.

Our Assessment Management Plan highlights:

• $1.19 Billion in County owned assets;
• 75% of the County assets are in fair or better condition;
• 2.5% in the annual reinvestment rate needed to eliminate the infrastructure deficit.

Council heard that the 2.5% reinvestment rate is the tax contribution needed to maintain the current level of County infrastructure over the next 13 years.

“The County has endorsed the Association of Municipalities of Ontario call for a Social and Economic Prosperity Review. This review calls on the province to engage in discussions with municipalities to renew the municipal funding model and to deliver for the people of Bruce County. Bruce County receives a fraction of the expected annual capital replacement costs for infrastructure from federal and provincial levels of government, roughly 10%. Without a new funding model, the County and property tax levy will continue to be on the hook for infrastructure renewal,” said Warden Peabody.

The County is actively engaged in discussion with the province to address these challenges. Next week at the Association of Municipalities of Ontario conference, Bruce County is meeting with the Ministry of Infrastructure to advocate for access to the money that large municipalities receive.