News item

Saanich, BC – On July 10, 2023, Saanich Council approved the Asset Management Strategy [PDF - 18 MB], looking ahead at the future of sustainable service delivery. Council’s Strategic Plan 2019-2023 highlights that asset management is critical to sustainable, effective service delivery, and directed staff to develop and implement the strategy.

The purpose of the Asset Management Strategy is to establish a road map for the formalization and continuous improvement of Saanich’s asset management practices.

The asset management program represents a significant opportunity for increasing Saanich’s operational efficiency and therefore its cost-effectiveness. By improving Saanich’s asset management practices, taxpayers will receive better value from their investment in these assets, as the useful life will be extended, and the risk of costly asset failures will be reduced. Better data and information will help ensure that assets are designed, built, operated, and maintained so that they last as long as possible.

The asset management program will help Saanich to “Do the right thing, at the right time, for the right cost”. Given the magnitude of Saanich’s portfolio of physical assets, which are currently worth approximately $4.7 billion ($2022), even a small increase in operational efficiency will result in significant cost savings for Saanich taxpayers.

Next steps

Once approved, the District will begin implementation of the 10 strategies. The next major milestone is the update of our Infrastructure Replacement Funding Strategy by early 2024.

More information

Additional information on the Asset Management Strategy, our assets and next steps can be found at saanich.ca/assetmanagement.

Media contact:

Kelsie McLeod
Saanich Communications
250-475-7633
media@saanich.ca