WELLINGTON COUNTY – With a whopping $1.7 billion in assets, it’s safe to say an asset management plan in Wellington County is an undertaking. Taking that challenge on were Hemson Consulting, who presented an updated plan due in July to Wellington County council last week.
This plan, treasurer Ken DeHart says, is a “holistic” look at asset management. He went on to say while the document is true to its name, it also digs deeper into the numbers.
DeHart says half of Wellington County’s assets fall under the umbrella of roads bridges and culverts, and another 20-plus percent in social housing. The rest, DeHart noted, are in county facilities, vehicles and other pooled assets.
The plan before council broke down scenarios the county could take to address a gap DeHart says is not a threat to taxpayers.
These two scenarios do include tax levy shifts, though miniscule ones. Option 1 suggests closing the gap over a 10-year period, while the most aggressive model, that aims to do so in five years, carries a 1.62 per cent levy impact each year.
DeHart explains over the next ten years, there are a projected $1.05 billion worth of repair and maintenance planned for county assets.
Wellington County has currently planned for $964 million of that. While only a small gap exists, DeHart explains there’s still room for improvement moving forward.
The bottom line, DeHart stated, is the county’s assets are in good condition, and staff should be able to continue to operate within the forecasted budget.
The remedy will involve being opportunistic, he explained, by lobbying for and applying to receive more grant money both provincially and federally, while also seeking out additional dollars, possibly through growth or investment revenues.
