Council has streamlined its Asset Management Policy, which covers
physical assets such as buildings, roads, pathways, art collections, land,
bridges, trees and vehicles to name a few.
Improvements approved last night include a focus on strategic themes and aligning
the policy to the new Local Government Act (2020).
The
sustainable delivery of our services depends on asset infrastructure
which has been developed and maintained over generations. This investment
continues to grow strongly as a result of our capital investment
program.
The
current value of our existing asset base is $2.3 billion. Most City
assets require significant ongoing investment in maintenance and renewal
activities to ensure they deliver service levels that meet community
expectations.
The
initial focus will be our long-life assets, such as the road network,
drainage network, park and recreation facilities, buildings, plant and
equipment, land assets, including open space and environmental land, trees,
waste management assets, and arts and culture collections.
Councillor Stephanie Asher – Mayor
This
policy supports financially sustainable management practices and principles,
making sure assets like buildings, bridges and pathways are protected and
funded for current and future generations. We commend the team for making good
progress with this policy and the program of work that is ongoing.
Councillor Anthony Aitken, Chair, Finance portfolio
This
updated policy sets the framework of understanding for the City on how to
manage our region’s $2.3 billion assets to meet our service delivery levels and
community expectations.It
also ensures the City has a strategic direction, as we try to balance the
challenge of building new assets and renewal of our existing assets. That
balance is not right at the present time as the City does not have enough
income to spend on renewal of our existing asset base.
