Like most municipalities, Barrie has significant gaps between the amount of money available each year and the amount needed to ensure existing infrastructure remains in good condition and that we can build new infrastructure to properly support growth. In order to support services, the City should be spending more money than what is available in the budget.
Measuring the Gaps
Starting in 2021, a new set of asset management plans (AMPs) is being delivered. These new AMPs include measurements of the infrastructure funding gaps based on the projected 10-year spending at the time. The projected gaps, from the dates of the AMP reports, are outlined below:
| Asset Porfolio | Gap | Detail |
|---|---|---|
| Stormwater Assets | $11.7M / year | See 2021 Stormwater Asset Management Plan |
| Transportation Assets | $48.4M/ year | See 2021 Transportation Asset Management Plan |
| Water Assets | $6.2M / year | See 2021 Water Asset Management Plan |
| Wastewater Assets | $7.6M / year | See 2022 Wastewater Asset Management Plan |
Asset management is an evolving process; the City will update AMPs regularly to keep them current and gain an even better financial picture of what is needed and when. This information then informs the preparation of future capital and operating budgets, as well as the City’s Long Range Financial Planning efforts.
Closing the Gaps
The City has various ways of bridging the gaps between municipal money available and the money needed to ensure the City’s infrastructure can deliver services that the public expects:
| Asset Type | Funding Sources to Bridge Gaps |
|---|---|
| Stormwater Assets Funding Gap | Infrastructure Investment Funding |
| Transportation Assets Funding Gap | Infrastructure Investment Funding |
| Water Assets Funding Gap | Increasing User Rates (as recommended by the Water and Wastewater Financial Plan) |
| Wastewater Assets Funding Gap | Increasing User Rates (as recommended by the Water and Wastewater Financial Plan) |