Managing our Infrastructure
Asset management is something we all do on a regular basis - it's cost-effective, efficient planning for managing the things we own, like our homes, vehicles or other items.
In essence, asset management is understanding what you have, its value and what it costs to maintain or replace.
Municipal asset management is important for strategic, operational and financial reasons as it provides a framework from which to plan and make decisions about the City's infrastructure.
A substantial amount of infrastructure within Humboldt - our roads and underground water and sewer mains, for instance - are nearing the end of their useful life, requiring significant investment to upgrade or replace. In fact, across Canada, communities large and small are grappling with how to balance investment into municipal infrastructure to ensure it continues to meet the needs of changing populations.
The City of Humboldt has developed a long-term utilities asset management plan that outlines core principles and practices about how to sustainably manage these assets. Detailed information about the City's roads has also been compiled so that a long-term approach can also be taken towards Humboldt's transportation network.
As the City grows and progresses, the plan will be regularly updated and improved to get the best performance out of municipal assets, realize the greatest return on infrastructure investments and provide good value for public investment.
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