Legislative History: Enacted April 23, 2019 (By-law No. CPOL.-389-123); Amended July 25, 2023 (By-law No. CPOL.-389(a)-193); Amended March 3, 2026 (By-law No. CPOL.-389(b)-77)
Last Review Date: March 3, 2026
Service Area Lead: Director, Capital Assets and Projects
1. Policy Purpose and Statement
1.1 Purpose
The Corporate Asset Management (CAM) Policy is required by Ontario Reg. 588/17, Asset Management Planning for Municipal Infrastructure (referred to herein as O. Reg. 588/17). It provides the framework to guide the development, implementation, and continuous improvement of the City’s Asset Management plans and practices to ensure sound stewardship of resources while delivering effective and efficient community services.
1.2 Statement
This CAM Policy establishes the foundation for the City’s CAM Program through acquisition, operation, maintenance, renewal, and disposal of Municipal Infrastructure Assets, supported by accurate and up-to-date asset data in the corporate asset registry. The CAM Program focuses on three fundamental goals:
1) Providing sustainable service to the Community;
2) Optimizing Municipal Infrastructure Asset value while minimizing lifecycle costs; and
3) Managing risks to service delivery.
In addition, it provides a coordinated approach to align Asset Management planning with the City’s Multi-Year Budget, accounting standards, policies, plans and other relevant regulations.
The CAM Policy also outlines the City’s commitment to consider climate change mitigation and adaptation and supports informed decision-making regarding the resilience of municipal assets.
2. Definitions
2.1 Asset: Non-financial assets having physical substance that are acquired, constructed or developed and:
- are held for use in the production or supply of goods and services for rental to others, for administrative purposes or for the development, construction, maintenance or repair of other tangible assets;
- have useful economic lives extending beyond an accounting period; and
- are to be used on a continuing basis.
For the City, capital assets have the following characteristics:
- Beneficial ownership and control clearly rest with the City; and
- The asset is utilized to achieve City plans, objectives and services with the intention of being used on a continuous basis and is not intended for sale in the ordinary course of business.
2.2 Asset Management: The coordinated activity of an organization to realize value from assets.
2.3 Asset Retirement Activities: Activities related to an Asset Retirement Obligation. These may include, but are not limited to:
- Decommissioning or dismantling a Tangible Capital Asset (TCA) that was acquired, constructed, or developed;
- Remediation of contamination of a TCA created by its normal use;
- Post-retirement activities such as monitoring; and
- Constructing other TCAs to perform post-retirement activities.
2.4 Asset Retirement Obligation: A legal obligation associated with the retirement of a Tangible Capital Asset.
2.5 CAM Plan: The City’s Corporate Asset Management Plan which combines multi-disciplinary techniques (technical and financial) over the lifecycle of Municipal Infrastructure Assets to provide defined levels of service in the most cost-effective manner and manage risks associated with Municipal Infrastructure Assets.
2.6 CAM Program: A systematic approach to managing assets to ensure reliable service delivery at an acceptable level of risk and cost over their lifecycle. It aligns technical, financial, and service planning to support sustainable investment decisions and long-term community outcomes.
2.7 Capitalization Threshold: The minimum cost an individual asset must have before it is to be recorded as a capital asset on the statement of financial position for financial reporting purposes.
2.8 City: The Corporation of the City of London.
2.9 Community: Any person or entity who uses the Municipal Infrastructure Asset or service, is affected by it or has an interest in it either now or in the future.
2.10 Community Partners: External organizations whose mandates or objectives may affect municipal infrastructure assets, and with whom the City is expected to coordinate.
2.11 Contingency Funding: Funding available for Municipal Infrastructure Assets to address unforeseeable circumstances.
2.12 Critical Asset: An Asset for which the financial, business, or service level consequences of failure justify proactive inspection, rehabilitation, or replacement, and is considered a Municipal Infrastructure Asset.
2.13 Infrastructure Asset: All or part of physical structures and associated facilities that form the foundation of development, and by or through which a service is provided by the City, such as roads, structures, water systems and facilities, as well as any other assets through which a service is provided to the Community.
2.14 Level of Service (LOS): The statement that describes the outputs or objectives the City intends to deliver to the Community. LOS may be expressed in terms of community experience and/or technical performance.
2.15 Municipal Infrastructure Asset: An Infrastructure Asset, including a green infrastructure asset, directly owned by a municipality or included on the consolidated financial statements of a municipality, but does not include an infrastructure asset that is managed by a joint municipal water board.
2.16 Replacement Value: The cost the City would incur to completely replace a Municipal Infrastructure Asset, at a selected point in time, at which a similar Level of Service would be provided. This definition can also be referred to as ‘Replacement Cost’.
2.17 Service Area: A Service Area is an organizational unit of the City that is accountable for planning, delivering, and stewarding a defined municipal service (or set of related services). A Service Area sets service levels, manages risks, plans lifecycle activities for the assets that enable its service(s), and is responsible for performance reporting and budgeting for those activities.
2.18 Tangible Capital Asset (TCA): A legislative reporting requirement specified by Section PS 3150 in the Public Sector Accounting Board Handbook to identify asset inventories, additions, disposals and amortization on an annual basis.
3. Application and Scope
This CAM Policy applies to all Service Areas involved in acquiring, operating, maintaining, renewing or disposing of the City’s Municipal Infrastructure Assets that are directly owned by the City, or included in the City’s consolidated financial statements as defined in, but not limited to, Appendix 1.
Asset Management Planning Scope
• The CAM Program and CAM Plan cover Municipal Infrastructure Assets that support the delivery of City services or the management of risk, regardless of whether they meet the Capitalization Threshold for Tangible Capital Asset purposes.
• The level of detail and method of tracking may vary by asset class. Assets may be managed individually, in groups, or as components of larger assets, as appropriate.
Financial Reporting Scope
• If a Municipal Infrastructure Asset’s value meets or exceeds the City’s Capitalization Threshold for Tangible Capital Asset purposes, it is recorded as a capital asset in the City’s financial statements.
• Inclusion in the CAM Program is not automatic solely because an asset exceeds the Capitalization Threshold. Where an asset above the threshold is not material to service delivery or risk, it may be excluded from detailed Asset Management tracking or managed only in aggregate.
• Conversely, where an asset falls below the Capitalization Threshold but, in the professional judgment of the applicable Service Area, it may be included in the CAM Program at an appropriate level of detail.
4. The CAM Policy
4.1 Standard of Care
The City will manage its Municipal Infrastructure Assets with due diligence, prudence, and in a manner that seeks to balance service performance, risk, cost, and sustainability over the lifecycle of assets in compliance with applicable legislation, including O. Reg. 588/17.
4.2 Governance Structure
The CAM governance structure is a foundational element of the City’s CAM Program. It clarifies responsibilities, authorities and accountabilities for Asset Management across the City.
(a) Municipal Council of the Corporation of the City of London
Council shall approve the following:
i) CAM Policy;
ii) Asset Management Plans; and
iii) Asset Management Plan Progress Reviews.
(b) CAM Steering Committee
The Deputy City Manager, Finance Supports, is designated as the Executive Lead for Asset Management as required by O. Reg. 588/17 and is the chair of the CAM Steering Committee. The CAM Steering Committee includes senior staff representing the major Service Areas included in the CAM scope and shall do the following:
i) Advise on CAM’s long-term strategic priorities and initiatives;
ii) Review and provide strategic guidance regarding the CAM Plan at various stages of development and implementation;
iii) Align CAM Plan and Programs with corporate objectives, capital planning, and financial strategies;
iv) Ensure Service Area resources are available to support the CAM initiatives; and
v) Facilitate collaboration across Service Areas to optimize asset management practices.
(c) CAM Section
The Corporate Asset Management (CAM) Section is part of the Capital Assets and Projects Division within the Finance Supports Service Area. The CAM section provides strategic and technical advice for CAM Program development and implementation and shall:
i) Provide leadership in CAM practices and concepts;
ii) Ensure compliance with O. Reg. 588/17 requirements and incorporate regulatory updates as needed;
iii) Provide guidance to Asset Management roles across the Corporation;
iv) Facilitate skills development related to Asset Management;
v) Facilitate communication and change management related to Asset Management;
vi) Advise the CAM Steering Committee and Service Areas as part of the Asset Management development process;
vii) Lead the development of the CAM Plan;
viii) Perform annual reviews and monitoring of the CAM Plan implementation;
ix) Develop and update policies and procedures related to the CAM Program;
x) Align the CAM Program with the currently approved plans, strategies and policies;
xi) Coordinate internal and external Asset Management benchmarking;
xii) Lead and support the implementation of continuous improvement initiatives; and
xiii) Liaise with Service Areas regarding Asset Management matters in the development of the City’s operating and capital budgets.
(d) Service Areas
Service Areas are the Asset Owners and include City Service Areas, Boards, Commissions, Agencies that lead the development, implementation, and continuous improvement of different aspects of the CAM Program.
i) Provide Service Area sponsorship for Asset Management practices and concepts;
ii) Oversee Asset Management planning activities within their respective Service Area and in support of others;
iii) Set service objectives including levels of service and monitor performance;
iv) Contribute expertise to the development of City plans, strategies, assessments, and workflows;
v) Collect and maintain asset information and other data related to asset reporting within their portfolios including asset inventory, condition, risk, performance results, Asset Retirement Activities and decision-making processes;
vi) Apply acquisition, operation, maintenance, renewal and disposal practices to meet expected levels of service and mitigate risk; and
vii) Work with internal and external parties through consultation and reporting during their day-to-day functions.
4.3 Commitments
The City is committed to implementing a program to manage Municipal Infrastructure Assets in a strategic, comprehensive, organization-wide, and collaborative manner, known as the CAM Program.
The City commits to:
(a) Developing, maintaining, and using Asset Management strategies and plans that:
i) Are aligned with the City’s Strategic Plan, The London Plan (Official Plan), Climate Emergency Action Plan, master plans, financial plans, and other relevant policies and strategies;
ii) Document lifecycle management strategies and investment requirements needed to provide defined levels of service and manage risk; and
iii) Are reviewed, revised, and analyzed at regular intervals to support continuous improvement.
(b) Maintaining a comprehensive and reliable inventory of Municipal Infrastructure Assets, including data on location, condition, performance, risk, and Replacement Value, at a level of detail appropriate to each class of asset;
(c) Providing a reliable, formal, but flexible framework when making business decisions, especially during forecasting, growth planning, and budgeting activities;
(d) Managing Municipal Infrastructure Assets using an integrated business approach that relies upon strategies, staff, data, and communication, and that delivers established service results;
(e) Coordinating Asset Management planning, where applicable, with Agencies, Boards, Commissions, and Community Partners in accordance with O. Reg. 588/17;
(f) Considering climate change as part of Asset Management planning by assessing infrastructure risk and embedding adaptation and mitigation strategies into lifecycle management activities, design standards, and capital planning; and
(g) Providing comprehensive CAM Plan updates at regular intervals as required by O. Reg. 588/17, or earlier if deemed necessary by Council or the City Treasurer.
4.4 Principles
Embracing a principles-based approach, the CAM Program establishes a consistent framework for decision-making, guided by defined levels of service, across the full asset lifecycle when the City acquires, operates, maintains, renews, or disposes of assets. The City’s Asset Management planning shall be:
(a) Community and Service Focused:
Infrastructure decisions are based on clear levels of service, sound asset information, and transparent communication with Council, Service Areas, and the Community.
(b) Forward-Looking & Lifecycle-Based:
Planning considers the full lifecycle of assets and long-term demographic, economic, and environmental trends beyond a single Council term.
(c) Prioritized & Integrated:
Investments are prioritized using consistent, documented processes that balance service, risk, and cost, and align with City policies, plans, and the Multi-Year Budget.
(d) Sustainable & Resilient:
Infrastructure is acquired, operated, maintained, and renewed to reduce environmental impact and support climate goals.
(e) Safe, Accessible & Beneficial to the Community:
Asset Management decisions protect staff and safety, support Reconciliation, Equity, Accessibility, and Inclusion, and, where feasible, deliver broader social and economic benefits.
4.5 Asset Management Processes
(a) Plans, Budgets and Forecasts:
The CAM Plan is a strategic, forward-looking document that outlines a consistent set of activities to carry out the commitments of this Policy. The CAM Plan will be used to inform the City’s Multi-Year Budget and annual budget updates. Staff will be involved in Asset Management planning to facilitate:
• The financial strategy developed in the CAM Plan;
• The budget submissions of each Service Area; and
• The overall budget process.
(b) Continuous Improvement:
The CAM Program strives for continuous improvement which includes:
• Staying current with Asset Management best practices and standards;
• Monitoring the effectiveness of the CAM Program;
• Adopting new practices, tools, and techniques where beneficial; and
• Adjusting the CAM Program and CAM Plan as needed to improve performance and enhance value.
(c) Community Consultation
Community involvement is an important component of a successful CAM Program. The City will provide opportunities for the Community to provide input through existing consultation processes such as the Multi-Year Budget, master planning, environmental assessments, etc.
(d) Availability and Update
This CAM Policy shall be posted on the City’s website and provided to anyone who requests it. It shall be reviewed by the CAM Steering Committee and Council and updated as required or at least once every five (5) years from the last revision date, in accordance with O. Reg. 588/17.
Appendix 1: City of London Entities
Entities that are considered to have City of London Municipal Infrastructure Assets and within scope of the CAM Program and consistent with O. Reg. 588/17:
City of London Service Areas
- Water
- Wastewater
- Stormwater
- Transportation and Mobility
- Parking
- Waste Management
- Parks
- Recreation & Sport
- Fleet
- Forestry
- London Fire Department
- Information Technology Services
- Emergency Management & Security Services
- Long Term Care
- Corporate Facilities
- Culture Services
- Municipal Housing & Industrial Development
Local Agencies, Boards and Commissions consolidated on City of London Financial Statements
- Argyle Business Improvement Area
- Covent Garden Market
- Eldon House
- Hamilton Road Business Improvement Area
- Hyde Park Business Improvement Association
- London & Middlesex Community Housing
- London Convention Center Corporation
- London Downtown Business Association
- London Police Services
- London Public Library
- London Transit Commission
- Museum London
- Old East Village Business Improvement Area