FAQs

Asset management refers to the practice of taking care of physical objects that provide value and enable services to be delivered, such as roads, parks, buildings, stormwater pipes, and signs. This involves both day-to-day maintenance and operation as well as planning for the medium to long term, including purchasing or creating new assets, renewing or upgrading existing ones, and disposing of assets when they are no longer needed.

An Asset Management Plan is a document that helps organisations manage their infrastructure and other assets to a predetermined standard of service. Our Council currently has four Asset Management Plans that cover the major asset classes of transport assets, drainage assets, building assets and parks and recreation assets.

A Strategic Asset Management Plan is a document that outlines an organisation's objectives, principles, framework, and strategies for managing assets in line with its overall goals. It summarises activities and expenditure projections from individual asset management plans for the major asset classes to achieve the asset management objectives. The Strategic Asset Management Plan has a life of four years and follows the Council election cycle.

The Council is committed to investing in the long-term quality of life of our community, beyond day-to-day operations. The Draft Strategic Asset Management Plan was developed by Council staff through research, data collection, and stakeholder workshops. It was created in line with Council's Asset Management Policy and answers a variety of questions, such as what assets we have, their condition, lifecycle costs, how we meet agreed service levels, what we have deferred, how we manage risks, and what confidence levels we have in our Strategic Asset Management Plan.