Strategic asset management policy
 3. (1) Every municipality shall prepare a strategic asset management policy that includes the following: 1.  Any of the municipality’s goals, policies or plans that are supported by its asset management plan. 2.  The process by which the asset management plan is to be considered in the development of the municipality’s budget or of any long-term financial plans of the municipality that take into account municipal infrastructure assets. 3.  The municipality’s approach to continuous improvement and adoption of appropriate practices regarding asset management planning. 4.  The principles to be followed by the municipality in its asset management planning, which must include the principles set out in section 3 of the Act. 5.  The municipality’s commitment to consider, as part of its asset management planning, i.  the actions that may be required to address the vulnerabilities that may be caused by climate change to the municipality’s infrastructure assets, in respect of such matters as, A.  operations, such as increased maintenance schedules, B.  levels of service, and C.  lifecycle management, ii.  the anticipated costs that could arise from the vulnerabilities described in subparagraph i, iii.  adaptation opportunities that may be undertaken to manage the vulnerabilities described in subparagraph i, iv.  mitigation approaches to climate change, such as greenhouse gas emission reduction goals and targets, and v.  disaster planning and contingency funding. 6.  A process to ensure that the municipality’s asset management planning is aligned with any of the following financial plans: i.  Financial plans related to the municipality’s water assets including any financial plans prepared under the Safe Drinking Water Act, 2002. ii.  Financial plans related to the municipality’s wastewater assets. 7.  A process to ensure that the municipality’s asset management planning is aligned with Ontario’s land-use planning framework, including any relevant policy statements issued under subsection 3 (1) of the Planning Act, any provincial plans as defined in the Planning Act and the municipality’s official plan. 8.  An explanation of the capitalization thresholds used to determine which assets are to be included in the municipality’s asset management plan and how the thresholds compare to those in the municipality’s tangible capital asset policy, if it has one. 9.  The municipality’s commitment to coordinate planning for asset management, where municipal infrastructure assets connect or are interrelated with those of its upper-tier municipality, neighbouring municipalities or jointly-owned municipal bodies. 10.  The persons responsible for the municipality’s asset management planning, including the executive lead. 11.  An explanation of the municipal council’s involvement in the municipality’s asset management planning. 12.  The municipality’s commitment to provide opportunities for municipal residents and other interested parties to provide input into the municipality’s asset management planning. (2) For the purposes of this section, “capitalization threshold” is the value of a municipal infrastructure asset at or above which a municipality will capitalize the value of it and below which it will expense the value of it. (“seuil de capitalisation”)