The City is underfunding their roads and buildings. That was one of the takeaways from City Engineer Justin Lawrence during his Asset Management presentation to council. The City has $1.2 billion in assets which is broken down into 15 categories such as sanitary sewers, street lights and bridges and culverts.
Over a 10 year period Lawrence says that the City is underfunding their roads and City Buildings by an average of $2 million per year.
Lawrence says that in the long term underfunding an asset results in its condition deteriorating.
Lawrence says that it’s important to look at the spending over a longer time frame.
Lawrence says that the previous council worked to increase funding for roads and buildings each year but it is still something that staff would like to see increased even more.