Asset management

Learn about the condition of city-owned assets and how we plan to manage them in the future. 

The City of Waterloo owns $4.9 billion worth of assets, including buildings, underground pipes, roads, and parks. These assets support everyday services like sports, bike paths, day camps and swimming lessons.

On this page:

  1. Asset value and performance
  2. Asset classes
  3. Asset management approach
  4. Asset management plan
  5. Asset management policy

Asset value and performance

Maintaining public infrastructure is a complex job, involving careful planning and regular monitoring.

We categorize public infrastructure into 'asset classes' that each have:

  • an inventory and estimated replacement value
  • a current and projected performance
  • an average annual funding amount
  • an estimated funding gap to reach target performance

This information is updated regularly, based on:

  • the best available asset inventory, performance and deterioration trends
  • the most recent approved budget and funding forecast

Asset value, performance and funding gaps

City asset values, current and future performance, and annual funding gaps
Asset group Replacement value Current performance Performance in 25 years Annual funding needed Average annual funding Annual funding gap
Bridges and culverts $96 million Good Good $1.5 million $1 million $500,000
Business Improvement Area (BIA) $245,000 Poor Poor $65,000 $40,000 $25,000
Cemeteries $18 million Fair Very poor $300,000 $0 $300,000
City-owned facilities $561 million Very poor Very poor $20.3 million $7.1 million $13.2 million
Fire $17 million Fair Poor $1.3 million $1.3 million $0
Fleet and shop equipment $37 million Good Fair $3.4 million $3.3 million $100,000
Forestry $116 million Excellent Excellent $900,000 $200,000 $700,000
Information technology $46 million Good Good $1.4 million $1.4 million $0
Library $6 million Fair Very poor $400,000 $200,000 $200,000
Parking $24 million Good Very poor $300,000 $100,000 $200,000
Parks $134 million Fair Very poor $5 million $1.4 million $3.6 million
Public art $3 million Good Good $15,000 $5,000 $10,000
Sanitary collection $873 million Good Fair $8.6 million $3.4 million $5.2 million
Stormwater $926 million Fair Poor $20.4 million $4.9 million $15.5 million
Transportation $1.2 billion Fair Very poor $35 million $9.8 million $25.2 million
Water distribution $777 million Good Fair $4.9 million $4.9 million $0
Total $4.9 billion – – $103.8 million $39 million $64.7 million

Asset classes

Assets are funded by different revenue sources. We use two categories to separate assets based on their funding source:

  • property taxes (tax base assets)
  • user fees (enterprise assets)

Expand the tabs to find detailed information about each asset class.

Tax funded asset classes

The city is responsible for 1.2 million square feet of total floor space.

Value and performances

  • total replacement value: $561.1 million
  • current performance: very poor
  • projected performance in 25 years: very poor

Standards and strategy

The city's facilities assets are our buildings including recreation facilities, fire stations and libraries, and their fixtures. We are committed to the maintenance of our buildings, energy efficiency and equipment to support the services provided to the community.

Facilities are typically rehabilitated through the replacement or refurbishment of individual components or groups of components. Each component has an industry-accepted estimated service life that is combined with observations during site investigations.

The current performance of facility assets is considered very poor and is anticipated to decline to very poor over the next 25 years. This is anticipated to be unacceptable to most interested and affected parties.

Funding

  • annual funding needed to meet target performance: $20.3 million
  • average annual funding: $7.1 million
  • annual funding gap: $13.2 million

Download Facilities Report Card (PDF)

The city is responsible for 1,200 pieces of protective equipment and 25 vehicles. Fire stations are included in the facilities asset class.

Value and performances

  • total replacement value: $16.6 million
  • current performance: fair
  • projected performance in 25 years: poor

Standards and strategy

Fire equipment and personal protective equipment is replaced when it reaches the end of its useful life in accordance with industry standards along with professional management by fire staff.

Fire vehicles are replaced when they reach the end of their useful life, based on professional management by fire staff.

The current performance of fire assets is considered fair and is anticipated to decrease to poor over the next 25 years.

Funding

  • annual funding needed to meet target performance: $1.3 million
  • average annual funding: $1.3 million
  • annual funding gap: $0

Download Fire Report Card (PDF)

The city is responsible for about 31,000 street trees and 6,500 park trees.

Value and performances

  • total replacement value: $116 million
  • current performance: excellent
  • projected performance in 25 years: excellent

Standards and strategy

The city's urban forest includes trees planted along streets and on city-owned lands like open spaces, parks and woodlots. We remove and replace trees when they are dying, damaged or impacted by invasive pests.

The current performance of forestry assets is considered excellent and is anticipated to maintain that performance profile over the next 25 years.

Funding

  • annual funding needed to meet target performance: $900,000
  • average annual funding: $200,000
  • annual funding gap: $700,000

Download Forestry Report Card (PDF)

Information technology assets includes remote sensing data, computer hardware, on premise software and applications, and infrastructure such as fibre optics, phone systems, and servers.

Value and performances

  • total replacement value: $48.6 million
  • current performance: good
  • projected performance in 25 years: good

Standards and strategy

Technology assets are replaced when they reach the end of their useful life. Estimated service life ranges between 3 and 10 years for software and hardware assets and 25 years for fibre optic infrastructure assets.

The current performance of technology assets is considered good and is anticipated to maintain that performance profile over the next 25 years.

Funding

  • annual funding needed to meet target performance: $1.4 million
  • average annual funding: $1.4 million
  • annual funding gap: $0

Download IT Report Card (PDF)

Library assets include computers, electronics, equipment and furniture.

Value and performances

  • total replacement value: $6.2 million
  • current performance: fair
  • projected performance in 25 years: very poor

Standards and strategy

The City of Waterloo supports the Waterloo Public Library's purpose to satisfy the multiple literacy needs of the community. The library provides public access to print and digital collections to support its customers' information, cultural, learning and leisure needs. Library assets include the equipment, furniture, electronics and computers used by residents to access and enjoy the collections, and to support library programming.

Funding

  • annual funding needed to meet target performance: $400,000
  • average annual funding: $200,000
  • annual funding gap: $200,000

Download Library Report Card (PDF)

Park assets includes 2 major parks and 142 neighbourhood parks.

Value and performances

  • total replacement value: $134 million
  • current performance: fair
  • projected performance in 25 years: very poor

Standards and strategy

There are different performance standards for all the elements in our park assets that are replaced when they fall below the target performance for their component. Pieces that would have a greater impact on park users if they are worn or damaged for example, playgrounds have a higher target performance expectation than other pieces such as benches.

The current performance profile of Park assets is fair and is anticipated to decline to very poor over the next 25 years. This is anticipated to be unacceptable to most interested and affected parties.

Funding

  • annual funding needed to meet target performance: $5 million
  • average annual funding: $1.4 million
  • annual funding gap: $3.6 million

Download Parks Report Card (PDF)

Public Art assets include permanent art installed across the city.

Value and performances

  • total replacement value: $2.5 million
  • current performance: good
  • projected performance in 25 years: good

Standards and strategy

The City of Waterloo recognizes that public art is a valuable asset that enhances the quality of life for citizens, strengthens community pride, improves the aesthetics of the public environment and contributes to the city’s cultural aspirations, social well-being and economic vitality. Public art is a mechanism to celebrate culture and heritage, reflect community diversity, express shared values and define the unique local identity.

Funding

  • annual funding needed to meet target performance: $15,000
  • average annual funding: $5,000
  • annual funding gap: $10,000

Download Public Art Report Card (PDF)

The city is responsible for:

  • 850 lane km of roads
  • 563 km of sidewalks
  • 167 km of trails
  • 244 bike racks
  • 7,700 traffic and wayfinding signs

Value and performances

  • total replacement value: $1.2 billion
  • current performance: fair
  • projected performance in 25 years: very poor

Pavement quality index (PQI)

Roads are rehabilitated when their performance falls below the target pavement quality index. Pavement quality index is a rating from zero which is very poor performance, to 100 which is excellent performance. PQI takes into account surface performance, ability to support and bear weight, and how rough the road is to ride on. PQI targets vary based on road classification, with busier roads generally held to higher standards.

  • current PQI: 57
  • target PQI: 60

Standards and strategy

Roads are replaced in coordination with other underground infrastructure, such as watermains and sanitary/storm sewers. Roads are typically resurfaced when no underground infrastructure replacements are required. Sidewalks and trails are replaced when they are in very poor performance.

Current average funding levels are projected to result in performances declining to an unacceptable level.

The current performance profile of Transportation assets is fair and is anticipated to decline to very poor over the next 25 years. This is anticipated to be unacceptable to most interested and affected parties.

Funding

  • annual funding needed to meet target performance: $35 million
  • average annual funding: $9.8 million
  • annual funding gap: $25.2 million

Download Transportation Report Card (PDF)

Uptown Business Improvement Area assets include holiday décor, lighting, benches, waste receptacles and planters.

Value and performances

  • total replacement value: $245,000
  • current performance: poor
  • projected performance in 25 years: poor

Standards and strategy

The Uptown Waterloo Business Improvement Area (BIA) and the City of Waterloo annually partner on beautification and place-making initiatives to add vibrancy to the core. Examples include holiday décor, street banners, lighting, benches, waste receptacles and planters. Additional assets include equipment supporting administration and operating initiatives, such as laptops, photocopiers and office furniture. Most initiatives are funded by additional grants applied for by the BIA.

Funding

  • annual funding needed to meet target performance: $65,000
  • average annual funding: $40,000
  • annual funding gap: $25,000

Download Uptown BIA Report Card (PDF)

User fee funded groups

The city is responsible for:

  • 57 pedestrian bridges
  • 22 road culverts

Value and performances

  • total replacement value: $96 million
  • current performance: good
  • projected performance in 25 years: good

Standards and strategy

Pedestrian bridges and road structure culverts are replaced when they reach the end of their useful life. Inspections completed every two years determine if there is a need for work to be done, ranging from replacement of railings to asphalt and concrete repairs, right up to full bridge replacement.

Bridges are jointly funded by the tax base and the stormwater enterprise.

The current performance profile of bridges and culverts is good and is anticipated to stay the same over the next 25 years. 

Funding

  • annual funding needed to meet target performance: $1.5 million
  • average annual funding: $1 million
  • annual funding gap: $500,000

Download Bridges and Culverts Report Card (PDF)

The city is responsible for two cemeteries and a crematorium.

Value and performances

  • total replacement value: $17.6 million
  • current performance: fair
  • projected performance in 25 years: very poor

Standards and strategy

Cemeteries assets are treated when they fall below the target performance for the respective component.

The current performance profile of Cemeteries assets is fair and is anticipated to decline to poor over the next 25 years. This is anticipated to be unacceptable to most interested and affected parties.

Funding

  • annual funding needed to meet target performance: $300,000
  • average annual funding: $0
  • annual funding gap: $300,000

Download Cemeteries Report Card (PDF)

The city is responsible for 350 assets including a flusher truck, ice resurfacers, loader/backhoes electric vehicles, trucks, turf equipment van-SUVs, zero emission vehicles and associated shop equipment.

Value and performances

  • total replacement value: $36.8 million
  • current performance: good
  • projected performance in 25 years: fair

Standards and strategy

Fleet assets are replaced when they reach the end of their useful life. Estimated service life ranges between 7 years and 15 years depending on the type of vehicle.

Fleet and shop equipment is funded by the tax base and the user rates.

The current performance of fleet and shop equipment assets is considered good and is anticipated to decline to fair over the next 25 years.

Funding

  • annual funding needed to meet target performance: $3.4 million
  • average annual funding: $3.3 million
  • annual funding gap: $100,000

Download Fleet Report Card (PDF)

Parking assets include paved and gravel lots, pay display machines and an electric vehicle charging station. There are a total of 14 parking lots.

Value and performances

  • total replacement value: $24 million
  • current performance: good
  • projected performance in 25 years: very poor

Standards and strategy

Surface parking lots are resurfaced when they reach the end of their useful life. The useful life of parking assets range from 10 to 100 years depending on the item.

The current performance profile of parking assets is good and is anticipated to decline to a very poor performance profile over the next 25 years. This is anticipated to be unacceptable to most interested and affected parties.

Funding

  • annual funding needed to meet target performance: $300,000
  • average annual funding: $100,000
  • annual funding gap: $200,000

Download Parking Report Card (PDF)

Sanitary collection assets include 418.7 km of pipes and 6 sewage pumping stations.

Value and performances

  • total replacement value: $929.4 million
  • current performance: good
  • projected performance in 25 years: fair

Standards and strategy

Sanitary sewers can be rehabilitated or replaced. Waterloo's strategy is to replace those in poor or very poor performance in coordination with replacement of the road and other subsurface infrastructure. When possible, sewers are rehabilitated using trenchless technology without disturbing the road base.

Pumping stations are rehabilitated on an as-needed basis as components in each facility reach the end of their useful life.

The current performance profile of sanitary collection assets is good and is anticipated to decline to fair over the next 25 years.

Funding

  • annual funding needed to meet target performance: $8.6 million
  • average annual funding: $3.4 million
  • annual funding gap: $5.2 million

Download Sewer Report Card (PDF)

Stormwater assets includes 352 km of pipes, 59 ponds, two impoundments and 70 km of natural channels.

Value and performances

  • Total replacement value: $926 million
  • Current performance: fair
  • Projected performance in 25 years: poor

Standards and strategy

Stormwater management is a network of pipes (including catchbasins and manholes), ponds and creeks. Storm sewers can either be rehabilitated or replaced. The current strategy in Waterloo is to replace storm sewers that are in very poor performance in coordination with the replacement of the road surface and other underground infrastructure.

The current strategy for stormwater management ponds is to dredge them on a routine basis to remove sediment and restore their full capability to capture runoff.

Natural assets (creeks) in the urban environment are maintained to support adequate flow through the system, control erosion, and reduce risk to critical infrastructure.

The current performance profile of stormwater collection assets is fair and is anticipated to decline to poor over the next 25 years. This is anticipated to be unacceptable to most interested and affected parties.

Funding

  • average funding needed to meet target: $20.4 million
  • average annual funding: $4.9 million
  • annual funding gap: $15.5 million

Download Stormwater Report Card (PDF)

Water distribution assets include 440 km of pipes, 2,591 fire hydrants and 5,071 mainline valves.

Value and performances

  • total replacement value: $777 million
  • current performance: good
  • projected performance in 25 years: fair

Standards and strategy

Water distribution is a highly regulated service and the City of Waterloo must meet strict provincial regulations and drinking water quality standards.

Watermains can be rehabilitated or replaced. The current strategy in Waterloo is to replace watermains that experience a high number of breaks or that have reached the end of their useful life. Replacement is coordinated with the replacement of other subsurface infrastructure such as stormwater mains and roads.

The current performance profile of water assets is excellent and is anticipated to decline to fair over the next 25 years.

Funding

  • projected funding needed to meet target: $1.9 million
  • average annual funding: $4.9 million
  • annual funding gap: $0

Download Water Report Card (PDF)

Asset management approach

Asset management is an integrated approach that brings together different municipal disciplines to manage infrastructure planning. 

The objective is to manage infrastructure through strategic investments that rehabilitate or replace assets at the right time for the right amount of money.

We use this approach to:

  • maximize the value of existing assets
  • manage future risk
  • provide satisfactory and sustainable services to the community

Waterloo Decision Support System

The city uses an award-winning system to guide decisions regarding building, operating, maintaining, renewing and disposing of infrastructure assets.

This system is used to:

  • help prioritize asset rehabilitation and replacement
  • provide information on asset strategies
  • inform the asset management plan and report cards
  • inform the long-term financial plan and capital budget process

View the Asset Management Plan

Our Asset Management Plan helps the city manage its resources effectively using the best available information on our assets, their performance, and how they might wear out over time. The plan also aligns with the city’s financial strategy. Asset performance may shift over time, so we monitor it regularly.

We developed our plan to meet the requirements of Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure.

View the Asset Management Plan (PDF, 22 MB).

View the Asset Management Policy

The city has an official policy that ensures we understand the long-term consequences of managing public infrastructure.

This is accomplished by combining evidence-based analysis with professional management in order to:

  • facilitate effective decision-making and risk assessments
  • meet legislative and regulatory requirements
  • establish service levels
  • adjust service levels as necessary to accommodate asset efficiency, effectiveness, sustainability, growth, and people-centred outcomes
  • prepare for climate change
  • work toward meeting asset accessibility requirements

Download the Asset Management Policy

This policy is updated every 5 years and was last revised in 2023. Download the policy (PDF).