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One of the measures of a City’s health is the state of its assets. A key issue facing all local governments is the management of aging infrastructure assets that provide needed and desired services to the community.
Infrastructure assets such as water, sewer, drainage, transportation, parks and public buildings present particular challenges. Financing needs can be large and timing for renewal can cause significant peaks and troughs in expenditures.
The City currently owns and operates over $2 billion in infrastructure assets that support provision of a wide range of services to the community. Currently, the City is able to provide excellent service with the assets that Council has invested in. The City’s assets are on average less than half-way through their life cycle but as these assets age the replacement costs will burden the City’s financial capacity.
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