2026/27 FINANCIAL POLICIES · Attachment 13 - Asset Management Policy

Attachment 13 – Asset Management Policy


Risk Management
   • Identify and assess risks related to asset management against Council’s tolerance levels for
      service delivery risk including:
         • Health & Safety (community & employees)
         • Environment
         • Legal & Compliance
         • Technical Infrastructure / Cyber
         • Financial Management
         • People & Management
         • Service Delivery
         • Reputation / Public Trust
         • Assets
         • Economy.

   •   Develop and implement risk mitigation strategies for each asset class and document these
       within each Total Asset Management Plan.
   •   Ensure critical assets are resilient and capable of withstanding adverse conditions, climate
       change, environmental values and are identified in each Total Asset Management Plan for all
       asset classes.

Community and Stakeholder Engagement
  • Actively engage with the community to understand their needs and expectations.
  • Foster transparent communication regarding asset management decisions and impacts.
  • Incorporate community feedback into asset management planning and decision-making.

Decision Making
   • Evidence based – risk, demand, whole of life (WOL) costs and community benefit are defined.
   • Systematic and sustainable, supported with an agreed level of service (LOS).
   • Minimum sustainability targets are achieved.

 ROLES AND RESPONSIBILITIES

   •   Council Responsibility Matrix: a detailed Council wide asset responsibility matrix will be
       defined within the Strategic Asset management Plan.

   •   Councillors: approve the Asset Management Policy, Strategic Asset Management Plan and
       Total Asset Management Plans.

   •   Chief Executive Officer (CEO): Ensure policy implementation and allocate necessary
       resources.

   •   Asset Management Steering Committee: Provide strategic direction, develop and implement
       asset management plans, maintain asset registers, and monitor performance.

   •   Asset Management Working Groups: Provide the technical expertise in the decision making
       on the relevant asset class and develop an asset specific responsibility matrix.

   •   Infrastructure Planning Team: Reference the asset management plans in the development of
       Council’s capital works programs to ensure asset renewal requirements are prioritised and met.

   •   All Staff: Adhere to asset management policies and procedures, contribute to effective asset
       management.


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