9Asset management strategy

9 Asset management strategy

(1)  In this clause –

asset management policy of a council means an asset management policy prepared by the council in accordance with section 70C of the Act;

asset management strategy of a council means an asset management strategy prepared by the council in accordance with section 70D of the Act;

minimum core level of asset maturity and competence means the minimum level of maturity and competence in respect of an asset required for the purposes of the Local Government Financial Sustainability Nationally Consistent Frameworks published by the Local Government and Planning Ministers’ Council in May 2007, as amended or substituted from time to time;

strategic plan of a council means a strategic plan prepared by the council in accordance with section 66 of the Act.

(2)  An asset management strategy of a council is required to include the following matters:

(a) an outline of all existing assets, and the services provided by the use of those assets;

(b) an outline of the condition of each existing asset, including financial status and the estimated costs related to the acquisition and use of the asset during its lifecycle;

(c) details of the goals and objectives of the council relating to the delivery of services provided by the use of its assets;

(d) details of the asset management strategies of the council to be implemented to enable the objectives of the strategic plan of the council and the assets management policy of the council to be achieved;

(e) a plan for the improvement of asset management, detailing the program of tasks to be completed and the resources required to achieve the relevant minimum core level of asset maturity and competence required in respect of the asset.

Displayed and numbered in accordance with the Rules Publication Act 1953.