Item - 2024.EX14.6

Tracking Status

  • City Council adopted this item on May 22, 2024 without amendments.
  • This item was considered by the Executive Committee on May 14, 2024 and adopted without amendment. It will be considered by City Council on May 22, 2024.

EX14.6 - City of Toronto’s 2024 Corporate Asset Management Plan

Decision Type:
ACTION
Status:
Adopted
Wards:
All

City Council Decision

City Council on May 22 and 23, 2024, adopted the following:

 

1. City Council adopt the 2024 Corporate Asset Management Plan as set out in Attachment 1 to the report (April 30, 2024) from the Chief Financial Officer and Treasurer and City Council authorize the Executive Director, Financial Planning to make any required non-material amendments to the plans prior to the July 1, 2024 regulatory deadline.

 

2. City Council direct the Chief Financial Officer and Treasurer to make available the final approved 2024 Corporate Asset Management Plan as amended to the public via the City website and to distribute printed copies as requested.

City Council Decision Advice and Other Information

City Council considered the following Items together:

 

EX14.6 headed "City of Toronto’s 2024 Corporate Asset Management Plan"; and

 

PH12.7 headed "City Comments on Proposed Bill 185 - Cutting Red Tape to Build More Homes Act, 2024, Provincial Planning Statement 2024, and New Minister Zoning Order Framework".

Background Information (Committee)

(April 30, 2024) Report from the Chief Financial Officer and Treasurer on City of Toronto’s 2024 Corporate Asset Management Plan
https://www.toronto.ca/legdocs/mmis/2024/ex/bgrd/backgroundfile-245335.pdf
Attachment 1 - City of Toronto’s 2024 Corporate Asset Management Plan
https://www.toronto.ca/legdocs/mmis/2024/ex/bgrd/backgroundfile-245336.pdf
Presentation from the Chief Financial Officer and Treasurer on 2024 Corporate Asset Management Plan
https://www.toronto.ca/legdocs/mmis/2024/ex/bgrd/backgroundfile-245661.pdf

Background Information (City Council)

Presentation from the Chief Financial Officer and Treasurer on 2024 Corporate Asset Management Plan
https://www.toronto.ca/legdocs/mmis/2024/cc/bgrd/backgroundfile-246008.pdf

Communications (Committee)

(May 13, 2024) E-mail from Hamish Wilson (EX.Supp)

Motions (City Council)

Motion to Adopt Item (Carried)

Vote (Adopt Item) May-22-2024 5:36 PM

Result: Carried Majority Required - EX14.6 - Adopt the Item
Total members that voted Yes: 24 Members that voted Yes are Paul Ainslie, Brad Bradford, Alejandra Bravo, Jon Burnside, Lily Cheng, Olivia Chow, Mike Colle, Vincent Crisanti, Paula Fletcher, Stephen Holyday, Parthi Kandavel, Ausma Malik, Nick Mantas, Josh Matlow, Jennifer McKelvie, Chris Moise, Amber Morley, Jamaal Myers, Frances Nunziata (Chair), James Pasternak, Gord Perks, Anthony Perruzza, Dianne Saxe, Michael Thompson
Total members that voted No: 0 Members that voted No are
Total members that were Absent: 1 Members that were absent are Shelley Carroll

EX14.6 - City of Toronto’s 2024 Corporate Asset Management Plan

Decision Type:
ACTION
Status:
Adopted
Wards:
All

Committee Recommendations

The Executive Committee recommends that:

 

1. City Council adopt the 2024 Corporate Asset Management Plan as set out in Attachment 1 to the report (April 30, 2024) from the Chief Financial Officer and Treasurer and City Council authorize the Executive Director, Financial Planning to make any required non-material amendments to the plans prior to the July 1, 2024 regulatory deadline.

 

2. City Council direct the Chief Financial Officer and Treasurer to make available the final approved 2024 Corporate Asset Management Plan as amended to the public via the City website and to distribute printed copies as requested.

Decision Advice and Other Information

The Chief Financial Officer and Treasurer, and the Manager, Financing Planning gave a presentation on City of Toronto’s 2024 Corporate Asset Management Plan.

Summary

The City of Toronto is the largest municipality in Canada and the economic engine of the province and country. With this comes an important national responsibility and opportunity to deliver services, execute projects, and uphold strategic priorities that will benefit the region and other orders of government and contribute to Canada’s overall economic health, social standing, and environmental sustainability.    

 

Like many North American cities, the majority of the City of Toronto’s infrastructure was built during the post-war period and the onset of the industrial period. The European experience – with much older infrastructure – tells us that, over time, cities will need to allocate an increasing part of their budgets to ensure that basic infrastructures continue to be in a state of good repair (SOGR) to serve their constituents. In addition, the far-reaching implications of climate change present new challenges to building sustainable and innovative adaptations that rely upon green, renewable, and adaptive technologies.

 

The 2019 Canadian Infrastructure Report Card (CIRC) highlights that a concerning amount of Canadian municipal infrastructure is in poor and very poor condition, requiring immediate rehabilitations and replacements in the next 5-10 years to maintain service levels that meet community expectations. For the City of Toronto specifically, more than 50% of its 2024-2033 Tax and Rate Supported Capital Budget and Plan is dedicated to capital investments in SOGR projects to simply maintain the current state of infrastructure over the next 10 years. In this context, it is extremely important to have high quality and comparable data across the organization for senior leadership to plan and prioritize renewal projects based on the evidence, implement best practices for cost savings, and leverage funding opportunities from provincial and federal governments.

 

This report presents the City of Toronto’s 2024 Corporate Asset Management Plan for City Council's approval, in accordance with Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure (the "Regulation") under the Infrastructure for Jobs and Prosperity Act. The regulation was subsequently amended in March of 2021 under Ontario Regulation 193/21 to change the timing of reporting requirements under the Act. The report will address all other municipal infrastructure assets outside of the core assets reported through the Core Infrastructure Asset Management Plan approved by Council in November 2021 which included water, wastewater, stormwater, roads, bridges, and culverts. The infrastructure assets contained in this report are categorized into 9 asset classes: facilities, fleet, equipment, amenities, collections, linear infrastructure, natural assets, structures and systems.

 

The 2024 Corporate Asset Management Plan (AMP) encompasses 25 City Divisions, Agencies, and Corporations (DACs) that hold ownership and/or responsibility over City-owned municipal infrastructure assets, as defined by the regulation. Organized into 8 service areas and 24 subservices, the Corporate AMP exhibits the multitude of services provided by the City and demonstrates the relationship between service delivery and the assets that support those services. The AMP is based on the data, information, professional judgement, and expertise of the asset management teams and leads that reside within each area, in conjunction with the work and analysis conducted through the City’s annual Budget process and reflected in the 2024 Operating Budget and 2024-2033 Capital Budget and Plan.

Background Information

(April 30, 2024) Report from the Chief Financial Officer and Treasurer on City of Toronto’s 2024 Corporate Asset Management Plan
https://www.toronto.ca/legdocs/mmis/2024/ex/bgrd/backgroundfile-245335.pdf
Attachment 1 - City of Toronto’s 2024 Corporate Asset Management Plan
https://www.toronto.ca/legdocs/mmis/2024/ex/bgrd/backgroundfile-245336.pdf
Presentation from the Chief Financial Officer and Treasurer on 2024 Corporate Asset Management Plan
https://www.toronto.ca/legdocs/mmis/2024/ex/bgrd/backgroundfile-245661.pdf

Communications

(May 13, 2024) E-mail from Hamish Wilson (EX.Supp)

Motions

Motion to Adopt Item moved by Councillor Gord Perks (Carried)
Source: Toronto City Clerk at www.toronto.ca/council