For those who wonder about the ‘story behind the story’ of British Columbia’s Sustainable Service Delivery journey, Asset Management BC Executive Director Wally Wells has identified five Defining Milestones over the past two decades that have re-shaped how local government does business (Summer 2021 issue of Asset Management BC Newsletter)

Note to Reader:

The approach BC local governments follow for their asset management process is enshrined in the document Asset Management for Sustainable Service Delivery: A BC Framework. The important and telling part of the title is that Asset Management is a process to provide a sound basis for decisions relating to the function of service delivery. Assets exist and are created, upgraded, replaced, maintained, and operated to provide a service. There is no other reason for their existence than provision of the intended service.  

Defining Moments in Asset Management

“I have been fortunate to have been part of the events dating back 20+ years that lead us to where we are today with asset management. If you are looking for a little background on how we got here, I have listed five defining moments below in the journey towards sustainable service delivery and asset management,” wrote Wally Wells, Executive Director, Asset Management BC.

“Leading the pack on the timeline was the InfraGuide initiative, still referenced by many today and available on the FCM website. The program was introduced in 2001.”

“Next, from 2003 through 2013, was the initiative called Civil Infrastructure Systems: Technology Road Map.”

“The third milestone, starting in the 2009 fiscal year, was a requirement known as Public Sector Accounting Board (PSAB) 3150. This required local governments to report the historical cost and depreciation of tangible capital assets on their balance sheet.”

“After that came the Federal Gas Tax Fund (GTF) Agreement Renewal in 2013. It included two key elements, both of which are drivers for asset management.”

“The fifth and final milestone is the Canadian Infrastructure Report Card. It was first published in 2012, then repeated and updated in 2016 and 2019.”

To Learn More:

To read the complete article, download a copy of the Summer 2021 issue of the Asset Management BC Newsletter