District of Oak Bay named one of two Canadian recipients of 2022 GFOA Award 

The District of Oak Bay has been recognized by the Government Finance Officers Association (GFOA) with an Award for Excellence in Government Finance for its implementation of the Sustainable Infrastructure Replacement Plan.

The GFOA’s Awards for Excellence in Government Finance recognize innovative programs and contributions to the practice of government finance that exemplify outstanding financial management. There were seven recipients of the Awards for Excellence this year and the District and Prince Edward Country were the only Canadian communities to receive the Award. This is the second award for the Sustainable Infrastructure Replacement Plan, which was also recognized by the Union of British Columbia Municipalities with an Award for Excellence in Asset Management.

The Sustainable Infrastructure Replacement Plan provides the District with a clear path forward to addressing the infrastructure replacement challenges and planning for the community’s future infrastructure needs. The plan recommends annual funding levels to achieve a sustainable funding stream and continue with capital services; recommends capital investment increases to maintain existing capital services and address the backlog in overdue infrastructure replacement; and provides a detailed capital asset lifecycle model for all capital assets via a multiyear capital planning process.

“The District is committed to being able to continue to deliver on the service levels that council sets forth for the community,” said Chief Financial Officer, Christopher Paine. “The plan is about exactly that, delivering on those service levels not only for today, but also for tomorrow.”

“I’m pleased to see this plan recognized once again,” said Mayor Kevin Murdoch. “The SIR Plan provides Council and Public with a clear understanding of both the infrastructure challenges and the path to close the identified funding gap. With the District actively accelerating the remediation and replacement of aging assets, this Plan helps ensure funding is transparent for taxpayers and remains aligned with the project timelines.”

For more information on the Sustainable Infrastructure Replacement Plan, please visit: www.oakbay.ca/sirp 

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For media inquiries, please call: 
Hayley Goodgrove
Communications Specialist
778-677-9589
hgoodgrove@oakbay.ca