7Long-term strategic asset management plan

7 Long-term strategic asset management plan

(1)  In this clause –

long-term strategic asset management plan of a council means a long-term strategic asset management plan prepared by the council in accordance with section 70B of the Act;

subclass means a subclass of a class of assets specified in clause 4 .

(2)  A long-term strategic asset management plan of a council is required to include the following matters:

(a) an overview, including the details of the classes of assets and subclasses covered by the plan and the quantitative data that the plan presents in respect of those classes of assets and subclasses;

(b) information about relevant assets, including capital expenditure requirements for renewing and upgrading existing relevant assets, and the provision of new relevant assets over the term of that plan;

(c) the current estimated or required service levels for the relevant assets;

(d) the actual service levels being achieved for the relevant assets;

(e) the future relevant asset requirements and capital works programs;

(f) the known areas for expansion of relevant assets or possible areas for expansion of relevant assets, including –

(i) potential acquisition dates for those assets; and

(ii) cost estimates for those assets; and

(iii) impact on service levels expected due to the acquisition of those assets; and

(iv) asset lifecycles of those assets; and

(v) financial considerations in relation to the acquisition and service of those assets;

(g) the asset lifecycle management and financial considerations, including –

(i) expected period of usefulness; and

(ii) a total valuation of all relevant assets in each class of assets; and