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Khalie Genereaux

    ASSET MANAGEMENT FOR SUSTAINABLE SERVICE DELIVERY: “Asset management is not new. What is new are the accounting standards around asset management and the attention being paid to a long-term financial strategy to support it,” wrote Khalie Genereaux, Deputy Director of Finance with the City of Terrace (Winter 2023 issue of Asset Management BC Newsletter)


    “The Public Service Accounting Board. PSAB 3150 requires local governments to amortize their tangible capital assets over their expected useful life. Prior to 2009, there were no standards in place for the valuation and deterioration of the local government assets. Consequently, the funding for renewal and replacement has not always been top of mind or top priority. As many of our aging communities are seeing their assets reach the end of their useful lives, the funding portion can no longer be ignored. If it is, we could all see ourselves declaring a local state of emergency,” wrote Khalie Genereaux.

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    ASSET MANAGEMENT FOR SUSTAINABLE SERVICE DELIVERY IN BRITISH COLUMBIA: “We know that having good succession plans in place is paramount to keeping the knowledge moving through the organization as key people leave. This is just one piece of the much greater puzzle,” stated Khalie Genereaux, Deputy Director of Finance with the City of Terrace, in an article written for the Asset Management BC Newsletter (July 2022)


    “Small municipalities, such as Terrace, have limited resources to be able to take on something like Asset Management wholeheartedly and with focus. For most of us it is a corner of the desk project that we get to when we have time. We are now trying to change that, bit by bit. Although our level of human capital has not changed, our lens of how to view Asset Management has. The more we learn within the process and the results, it is no longer a matter of getting to it when we have time, but rather making the time to do it. Put simply, we cannot afford NOT to make this a priority,” stated Khalie Genereaux.

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