Managing assets

A policy designed to assist Baw Baw Shire’s management of more than $690 million worth of assets has been revised.

Council has adopted its revised asset management policy that provides a framework for sustainable asset management.

A report to council said it was responsible for about $691 million worth of infrastructure assets that were essential to the delivery of community services.

Council’s infrastructure asset value increased by about three per cent during the 2017-18 financial year, mainly due to gifted assets from subdivision developments and council’s capital works. The intent of the revised policy is to: Focus on sustainability through renewal and replacement of existing assets;

Monitoring and reporting asset performance; and

Assign asset planning, both capital and operational, duties in relation to each class of infrastructure asset to appropriate council staff.

The policy states council will rationalise existing assets based on the service potential and whether it is fit-for-purpose. Council will only own assets that are integral to the delivery of services to the community.

Cr Darren Wallace said council had $691 million worth of assets so even a one per cent saving could make a huge difference.

He said the policy set out the principles of council’s asset management program.

“It is not the most riveting read but it is a solid over-arching policy,” he said.

Cr Danny Goss said council needed to look after $700 million worth of assets in a sensible and responsible manner.

He said the policy set out the expectations of council in achieving that.