NAMS. Na'onal Asset Management Strategy
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- Carol Gibson
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From this document you will learn the answers to the following questions:
What does NAMS . PLUS3 help organisabons keep up with?
What state of demand for services is increasing?
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1 NAMS A The IPWEA has developed NAMS.PLUS3 to assist organisabons write and keep their Asset Management Plans up to date as demands on organisabon change frequently. Na'onal Asset Management Strategy Aligning Services, Assets and Financial Resources Andy Wardell Director, Financial Services, District North Vancouver Co-Chair, Asset Management BC
2 NAMS Current State What, Why, Who? NAMS More than Just Asset Management Plans = How NAMS Fits NAMS in AcBon Asset Management Plan sample Asset Management Strategy sample (Bme permipng) Financial Sustainability sample (Bme permipng)
3 Current State Demand for Services growing & costing more Infrastructure - Aging Funding - Constrained Graphics by PresentationMedia
4 How Did We Get Here? In the beginning Current state 1. Cost = Green field development vs Brown field development 2. Three/four year mandates vs 100 year asset life cycles 3. Raw lands sales are finite and not a sustainable pracbce New Assets built by developers & given to municipalities $170 + Billion Infrastructure gap and growing
5 Why NAMS? Asset Management BC research Only well established standardized asset management planning methodology available that is part of a robust approach to financial sustainability Scalable to any size of municipality Large Vancouver (600,000), Burnaby (300,000) Small Village of Torque (236)
6 What is NAMS? National Asset Management Strategy NAMS Australia NAMS New Zealand NAMS Canada
7 Why NAMS? Will assist organizabons who provide services from infrastructure to: Leverage PS 3150 inventories Write and easily update Asset Management Plans Write Risk Registers and manage risk Develop an asset management strategy Integrate AMPS into your Long Term Financial Plan Measure progress toward service, asset and financial sustainability
8 Why NAMS? Asset Management Plans are an integral component of organisabon s management systems. Asset Management is NOT about the Management of Assets David McKeown, CEO, InsBtute of Asset Management, May 2013 It is about managing the enbre organizabon in a sustainable manner
9 Why NAMS? Asset Management Plans: document the services provided by the organisabon, provide expenditure projecbons for Long Term Financial Planning, provide a basis for consultabon with customers/community on the services they really need and are willing to pay, and facilitate the reaching of a financially sustainable posibon where the organisabon is able to provide the services its customers/community needs in a financially sustainable posibon.
10 Who is using NAMS? MunicipaliBes trained on NAMS: BC 40 (160 people) Saskatchewan, Alberta, NWT & Yukon 60 (240 people) Australia over New Zealand over 70
11 NAMS Key Components
12 How NAMS Fits Asset Management Policy Asset Management Strategy = corporate vision and performance reporting Asset Management Roadmap Asset Management Plans and Risk Registers Public Sector Accounting Board (PASB) Audited Asset Inventories The Sustainable Founda'on
13 How NAMS Fits What = ISO Series How = Financial Sustainability Indicators (LGASA/ IPWEA) and Long Term Financial Planning Best Practices (GFOA) How = National Asset Management Strategy (NAMS) or whatever you use How = International Infrastructure Management Manual (IIMM) How = Public Sector Accounting Board (PASB) Audited Asset Inventories The Sustainable Founda'on
14 NAMS in Ac'on
15 Inventories at Replacement Value AMPs Completed $ Bridges 44,618,943 3% Buildings & Components 379,964,066 24% Culverts 65,035,015 4% IT 14,931,376 1% Parks Assets 48,231,930 3% Retaining Walls 6,219,343 0% Roads - Surface only 79,822,380 5% Sewer mains 264,149,780 17% Street Light Networks 18,980,787 1% Traffic Signal Networks 14,478,917 1% Trails 5,904,591 0% Lift Stations 14,113,120 1% PRV Stations 5,400,218 0% Pump Stations 11,229,502 1% Water Reservoirs 9,943,920 1% Water Mains 324,340,225 21% 1,307,364,113 83% AMPs Pending Drainage 230,575,657 15% Wharves 2,282,740 0% Sidewalks 35,759,640 2% 268,618,037 17% Total Assets under AMPs 1,575,982, % $1.3B AMPs $269M to go Road Base $400M Graphics by PresentationMedia
16 Buildings Asset Management Plan ExecuBve Summary! Stakeholder & Benefits What is the Asset? What do We Own? What is it Worth? What Need to Be Done and When? How Much will it Cost? What is Next?
17 What is it worth = $380 Million! Total Replacement Costs (TRC) = Current Replacement Costs (CRV) + Other Project Costs CRV is the sum of all building components in today s constant dollars 98 Buildings
18 Physical Condi'on F D C B A
19 Demand/Capacity Condi'on A B C D F
20 Func'onality Condi'on A B C D F
21 What to Do and When! Buildings Asset Management Plans consider: Asset condibons CriBcality of assets Likelihood & consequence of failure Level of Service (current & target) Risk Rating Consequences Likelihood Insignificant Minor Moderate Major Catastrophic Rare L L M M H Unlikely L L M M H Possible L M H H H Likely M M H H VH Almost Certain M H H VH VH
22 Risk Registers!!!
23 How Much will it Cost? Two key indicators for service delivery sustainability: 1. Can we afford annual lifecycle costs? 2. How much cash required to pay for them?
24 How Much will it Cost (Buildings)? Next 10 year Annual costs Budget classification Next 10 Annual Budget Total Operation Maintenance End-of-life Total replace/dispose Minor maintenance Component renewal/backlog reduction Replacement or major renovation Disposal Operating Capital Budget Gap (1.0) (1.9) (2.9) Project expenditures outlays over next 10 years $16 Million PA or In total, the next 10 year projected outlays are $206m Annual funding gap total $2.9M
25 What is Next? Work as an interdisciplinary team Start with one AMP and work toward AMPs for all assets Integrate AMP informabon into Long Term Financial Plan Summarize AMPs into a Strategy document to move AM forward Council approved AM policy Engage community on levels of service and price. How can you have a robust long term financial plan without good asset management plans?
26 NAMS ASSET MANAGEMENT STRATEGY Graphics by PresentationMedia
27 AM Strategy A single summary report AM Vision Evidences: AM Strategies Asset Improvement Plan Summarizes all Assets: Current State Life Cycle Costs & Gaps Sustainability Performance KPIs Tracks progress on Core AM competencies
28 AM Strategy AM Competencies Australia s NaBonal Frameworks on Asset Planning and Management and Financial Planning and ReporBng define 10 elements. 11 core competencies have been developed from these elements to assess core competency under the NaBonal Frameworks. The core competencies are: Asset Planning and Management Element 2 Asset Management Strategy and Plans divided into Asset Management Strategy and Asset Management Plans competencies.
29 AM Strategy AM Competencies Financial Planning and ReporBng Strategic Longer Term Plan Annual Budget Annual Report Sustainability Indicators Asset Planning and Management Asset Management Policy Asset Management Strategy Asset Management Plans Governance & Management Levels of Service Data & Systems Skills & processes EvaluaBon
30 AM Competency Assessment = Maturity Key asributes: designed around the asset management journey of a local government Assesses where a local government is on the asset management maturity curve Evaluates progress towards core maturity in asset management and financial planning
31 Thank you for your 'me! QuesBons?
32 Best Prac'ces Indicators for Sustainable Service Delivery Graphics by PresentationMedia
33 Why is it sustainability so hard? Graphics by PresentationMedia
34 How Did We Get Here? In the beginning Current state 1. Cost = Green field development vs Brown field development 2. Three/four year mandates vs 100 year asset life cycles 3. Raw lands sales are finite and not a sustainable pracbce New Assets built by developers & given to municipalities $170 + Billion Infrastructure gap and growing
35 Standard Sustainability Indicators Award winning enquiry in to LG financial sustainability series of informafon papers on financial sustainability designed to assist with financial and asset management reforms; training and briefing programs; InsFtute of Public Work Engineering Australasia
36 Opera'ng Surplus Ra'o Indicator #1 Operating Surplus Ratio Est Major Controllable Revenues $ 136 $ 143 $ 151 $ 158 $ 166 $ 178 Operating Fair Value Surplus (Deficit) with FV deprecation (16) (12) (7) (5) 0 6 Operating Surplus (Deficit) Ratio -11% -8% -5% -3% 0% 4% Minimum Benchmark Target 0% 0% 0% 0% 0% 0% Upper Benchmark Target 15% 15% 15% 15% 15% 15% a) Benchmark target - A small surplus every fiscal year b) Suggested long-term target range for Indicator 1: Operating Surplus Ratio: To achieve, on average, an operating surplus ratio of between 0% and 15%
37 Net Financial Liabili'es Ra'o Indicator #2 Net Financial Assets (Liabilities) Ratio Est Net Financial Assets (Liabilities) $ 38 $ 50 $ 60 $ 72 $ 86 $ 92 Major Controllable Revenues Potential Debt Room (174) (193) (211) (230) (252) (270) Net Financial Assets (Liabilities) Ratio 28% 35% 40% 46% 52% 0% Maximum Benchmark Target -100% -100% -100% -100% -100% -100% a) Benchmark target - a maximum debt of 100% of major controllable revenues b) Net financial liabilities ratio is greater than zero (ie: -1% but no more than -100% of total operating revenue.
38 Asset Sustainability Ra'o Indicator #3 Asset Sustainability Ratio Est Actual Sustainment capital outlay 15 $ 16 $ 17 $ 13 $ 18 FV depreciation/amp Three year moving average 75% 75% 70% 72% Minimum benchmark 90% 90% 90% 90% In the sustainable zone if between 90% and 110% on a three year moving average each year.
39 These ra'os work! Graphics by PresentationMedia
40 (Senge) Turning the Corner What Does It Take? Change management competence Developing champions at all levels Belief that we can conbnuously improve Acknowledge the LimiBng Forces of Success CollecBve learning capabilibes that emphasize measuring to learn Group Trust & Interdisciplinary team work
41 Final Comment In the interest of maintaining a standard of living for ourselves and the next generabons we must focus on steady state replacement of assets augmented by reasonable reserve levels and debt financing Sewer - Condition Based Steady State Funding versus End of Useful life
42 Thank you for your 'me! QuesBons?
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