Public infrastructure is central to our economic prosperity and quality of life. Municipalities deliver many of the services that are critical to the community, and these services rely on well-planned, well-built and well-maintained infrastructure.
The Prosperity at Risk computer simulation platform is able to examine the far reaching trends that will affect a region’s infrastructure needs, including population growth; competitive economic forces; and a larger, older and more urbanized population.
The platform provides risk, return and forecasting analysis that supports a strategic framework that guides future investments in ways that support economic growth, are fiscally responsible, responds to changing needs and supports good stewardship through proper asset management.
In the context of a public infrastructure strategy, the Prosperity at Risk platform provides risk, return and forecasting analysis that allows for a consistent and 360° understanding of:
- Infrastructure demand challenges that are associated with population growth, economic change and regional competitiveness. This leads to a comprehensive understanding of the needs, risks and returns that guide investment decisions.
- Who benefits directly from public infrastructure and the quantification of the different policies that can be implemented to transfer the costs of investment over time.
- The opportunities of interregional cooperation that maximize the rates of return on infrastructure assets and infrastructure plan executions.
- The optimization of infrastructure budgeting and financing under different population and planning scenarios.
- The structural challenges that are confronting regional population and industry growth.
- How a municipal asset management plans generate returns for the provincial growth plan in order to support provincial infrastructure funding requests.
- Integrating financing strategies with the details of the asset management plan. For each type of infrastructure asset class, the simulation platform is able to simulate for each year for 50 years forward a full system of regional government accounts and asset values that are consistent with Canadian generally accepted accounting principles and include the effects of:
- Population and industry growth
- Municipal fiscal revenue policies and scenarios
- Other government funding policies and scenarios
- Service enhancements
- State of good repair servicing requirements
- Financing expenses
- Operating expenses and human service requirements