Asset lifecycle management that supports PSAB 3150 readiness
Municipal asset management should support finance reporting, not sit apart from it. Asset acquisition, betterments, amortization, disposals, net book value, supporting evidence, and infrastructure records all affect PSAB 3150 readiness and year-end reporting.
Asset acquisition and capitalization
Capture asset details, acquisition cost, funding source, in-service date, and supporting documentation.
Betterments and component tracking
Track asset improvements, component-level records, infrastructure updates, and capital treatment considerations.
Amortization and net book value
Support amortization schedules, useful-life assumptions, net book value reporting, and finance review.
Disposals and transfers
Track retirement, disposal, transfer, write-down, and supporting evidence workflows.
Infrastructure and public works assets
Support roads, facilities, vehicles, equipment, water, wastewater, and other municipal asset classes.
Audit evidence and year-end support
Connect asset records, documents, approvals, and reporting outputs to year-end review needs.
Modernising the asset lifecycle
Asset management areas we implement
PSAB PS 3150 requires Canadian municipalities to record all tangible capital assets above their capitalisation threshold, assign useful lives, and calculate depreciation on a full-accrual basis. ERP asset management must be configured for these requirements - including asset categories, useful life tables, and depreciation methodology - at implementation, not post-UAT.
Canadian municipalities are increasingly required to produce asset management plans under provincial legislation (Ontario's O.Reg. 588/17, for example). An ERP asset register that reflects actual condition and maintenance history makes those plans significantly easier to produce and defend.
Operational shifts in asset management
Asset maintenance and field operations
Asset management is not only a register. Municipal teams often need to connect asset hierarchy, work orders, preventive maintenance, fleet, facilities, infrastructure, GIS references, mobile field updates, and audit-ready reporting.
Asset hierarchy and lifecycle
Organize assets by parent-child hierarchy, class, status, and track useful life events.
Work orders and preventive maintenance
Schedule recurring tasks, track labor and materials, and link work orders directly to assets.
Fleet, facilities, and infrastructure
Manage maintenance schedules, work requests, and cost histories for diverse municipal holdings.
GIS-linked asset records
Synchronize spatial location and asset status across systems to support map-based dispatch.
Mobile field workflows
Enable operational staff to log inspections, update status, and close work orders on-site.
Maintenance reporting and audit trail
Compile cost summaries, performance metrics, and history logs to support decision-making and audits.