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Alberta has announced it's Asset Management Strategy

Alberta has announced it's Asset Management Strategy

The Government of Alberta has finalized it's approach to asset management, which is a federal government requirement for the Gas Tax Fund that each province and terriotory must complete. 

Alberta's approach has now been approved by the Government of Canada. It includes a two-stage approach that will be executed over seven years. 

Already underway, Phase 1 runs from 2015-2017. It focuses on creating and enhancing tools, resources, training, and advisory services to support asset management. Phase 2, 2018-2023, will build upon the activitie of Phase 1, while also focusing on implementing corporate planning regulatory requirements. 

Notably, will promote the development and use of policies, strategies and plans to support the capital planning requirement introduced through the 2015 amendments to the Municipal Government Act (MGA). Under these stricter legislative requirements, all municipalities will be required to prepare three-year financial and five-year capital plans to better utilize their financial and physical assets. 

According to the Asset Management Strategy: "The development and implementation of asset management policies, strategies and plans directly support the identification of capital project additions as set out in the new requirements, and could be viewed as necessary prerequisites to making informed decisions about what is to be included in the financial plan and the capital plan." However, the form and content of these plans have yet to be finalized.