TITLE C171 ASSET MANAGEMENT POLICY DEPARTMENT. Engineering Services POLICY DIRECTIVE

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1 TITLE C171 ASSET MANAGEMENT POLICY DEPARTMENT Engineering Services POLICY DIRECTIVE This Asset Management policy will ensure that Asset Management is clearly recognised by Council and community in accordance with the primary objectives of the Local Government Act It is also an important process in managing the Council s infrastructure assets for the present and future generations. The Council s Asset Management policy will complement and build upon its Strategic Plan and Operational Plan and with its continued implementation and more formalised approach to asset management, principles and methodology, Council will achieve significant benefits including: Integration of resources and knowledge Better and more informed decision-making. Greater resource efficiency through the use of integrated systems. Improved efficiency and reduction of limited capital funds and asset operation costs. Ability to plan for the present and future generations. The infrastructure assets to be considered in this policy include such assets as Roads and Bridges, Buildings, Waste Management, Recreation and Reserves, Stormwater, Sewerage and Water. (Appendix 1 Definitions and Appendix 3 Asset Register) In developing the policy for Asset Management, it is essential to ensure that the policy considers: Corporate responsibility and the need for resources. Management of assets to be undertaken in a structured and coordinated way. Councils Risk Management Policy C167. Financial, social and environmental sustainability. Continuous improvement. Compliance to legislative and regulatory requirements. Current knowledge and skill levels of the human resources. Enabling gains in service levels of the infrastructure. This policy applies to Council, Councillors, Senior management, staff and community involved in the operations, maintenance, refurbishment, renewal, upgrading and development of Council s existing and new infrastructure assets. Page 1 of 11

2 HISTORY Council Resolution 281/03 Ordinary Meeting 15 July 2003 endorsed the actions of the General Manager in implementing an Asset Management Improvement program. Adopted as per Council Resolution 443/03 Ordinary Meeting 18 November POLICY VISION Balance the level and range of services to be provided against the ability of the community to afford them. (Island Vision 2005) GOALS As part of Councils consideration of infrastructure asset management, Council will; As custodians/caretakers of community assets and as part of providing quality infrastructure and community facilities, undertake to develop acceptable and financially sustainable asset management plans. Ensure that in accordance with its Strategic Plan and Operational Plan, infrastructure assets will support services that are appropriate, accessible, responsive and sustainable to the community. Manage the infrastructure and assets in a systematic and sustainable manner. Involve and consult with the community and key stakeholders to assist in the establishment of responsible and best practice asset management plans and ensure whole of life asset function consideration for present and future generations. Recognise good quality asset management that meets industry standards and risk management requirements to enable assets to meet the needs and expectations of the users and community. Manage the assets utilising a multi discipline cross-functional asset management working group to ensure all stakeholders are involved. Embrace the need for assets to be regularly maintained and refurbished to ensure that: Maintenance and refurbishment continue to meet the standards of the day, Assets continue to function effectively for their full asset life, and Overall life-cycle costs are reduced. Encourage continuous improvement, innovation and cost effective methods to improve work practices and processes. Where new assets are considered, examine the whole of life cost implications including ongoing costs of maintenance and refurbishment of that asset over its life. Implement this policy taking into consideration linkages to existing policies and strategies included in the Strategic Plan. In accordance with Council s Financial Management Plan (to be developed), funding for all maintenance, refurbishment and replacement will reflect whole of life cost assessments. Page 2 of 11

3 RESPONSIBILITIES AND RELATIONSHIPS The roles of the Councillors as custodians of all King Island Council assets are: To ensure the Council s legal obligations are met To represent the community as the asset owners To ensure the asset/service is maintained for future generation at an equitable cost Council employees have a corporate responsibility to provide the correct technical and professional advice so that the Councillors can make the best decisions on behalf of the community they represent. To achieve this policy the following key roles and responsibilities and commitments are identified: COUNCIL To act as stewards for infrastructure assets. To set corporate Asset Management Policy and vision with linkage to the Strategic Plan. To set levels of service, risk and cost standards in consultation with the community. Approve and review Asset Management Plans and monitor the outcomes. To ensure appropriate resources and funding for Asset Management activities are made available to integrate policies, strategies and plans for Asset Management into the corporate governance framework. SENIOR MANAGEMENT TEAM To review an "overarching" Asset Management Policy and an Asset Management Strategy with linkage to the Strategic Plan for consideration by Council. To foster and support the cross functional Asset Management Working Group; To implement and continuously review the corporate Asset Management Policy and Strategy with agreed resources. To monitor the performance of the staff in implementing asset management. To ensure the community and key stakeholders inputs are integrated into the Asset Management Plan To ensure that accurate and reliable information is presented to Council for decision- MAKING. ASSET MANAGEMENT WORKING GROUP (COUNCILLOR REPRESENTATIVE (2), SENIOR MANAGEMENT TEAM, TECHNICAL SERVICES OFFICER, SENIOR FINANCE OFFICER) (APPENDIX 2) To prepare the "overarching" Asset Management Policy and Asset Management Strategy for consideration by Senior Management Team. To develop Asset Management plans documenting required allocation of funding and improvement plans for individual asset groups, using the principles of lifecycle analysis. In consultation with the community and key stakeholders develop asset management "levels of service" to agreed risk and cost standards. Page 3 of 11

4 To develop and implement maintenance, refurbishment and capital works (refurbishment/renewal) programs in accordance with Asset Management plans and report to Senior Management and Council. To develop and implement procedures that ensure the asset database is maintained and updated and provide required reports to Council to meet their statutory and legal responsibilities. To develop and implement processes and procedures that allow for the whole of life and continued management and ownership of assets including all asset life cycle management functions. To develop a Capital Evaluation Framework to assist in prioritising projects when assessing a Capital Works Program. To present information to Senior Management Team and Council in terms of Asset Management lifecycle risks and costs. Promote and raise awareness of asset management to the Council, staff, users and community. BROAD TIMEFRAMES AND REVIEW This policy and associated strategy is to follow the TAMI Step program and then be formatted to match the Councils ongoing Strategic Plan and Asset Management initiatives. As part of the implementation, Council needs to: Develop asset management procedures to assist the implementation of the Asset Management Policy and to meet legislative or regulatory guidelines. Develop Asset Management responsibility matrix identify each asset group (type) and the various elements in achieving a total Asset Management approach across the organisation. Review of this policy and relevant procedures will take place annually by 30 November. Audit and review Asset Management Implementation and Improvement Plans as set out in the Asset Management Strategy. Review the Asset Management policy and strategy. Senior Management Team is to review compliance to this policy on an on-going basis and report to Council on an annual basis. Asset Management Working Group is to prepare a broad timeframe and deadline table. (Appendix 4) ADDITIONAL INFORMATION Page 4 of 11

5 APPENDIX 1 DEFINITIONS For the purposes of this Policy, assets are defined as the service potential 1 or future economic benefits 2 controlled by Council as a result of past transactions or other events. There are two types of assets physical assets 3 or non-physical assets 4. This policy only considers physical assets. The major characteristics of an asset are: There must be service potential or future economic benefits. The future economic benefits must be quantifiable. Council must have control of the service potential or future economic benefits. The transaction or other event giving rise to the creation of the asset must have occurred. The asset must be material in accounting terms whereby its omission, non-disclosure or misstatement from Council's financial statements would result in the financial statements being misleading. INFRASTRUCTURE ASSETS In accordance with the International Infrastructure Asset Manual an infrastructure asset is a physical component of a facility which has value, enables services to be provided and has an economic life of greater than 12 months. Dynamic assets have some moving parts, while passive assets have none. Stationary Assets are assets that are not replaced as a whole, but rather renewed piecemeal by the replacement of individual components whilst maintaining the function of the asset as a whole. Infrastructure assets have indefinite lives while economic lives are assigned to components of an infrastructure asset. The infrastructure assets to be considered include such assets as Roads and Bridges, Buildings, Stormwater Infrastructure, Sewerage and Water. MAINTENANCE All actions necessary for retaining an asset as near as practical to its original condition, but excluding rehabilitation or renewal. REHABILITATION Works to rebuild or replace parts or components of an asset to restore it to a required functional condition and extend its life. RENEWAL Works to upgrade, refurbish or replace existing facilities of equivalent capacity or performance capability. 1 Service Potential is the economic benefit derived by Council through the use or sale of the asset. Increases in service potential may be derived from greater capacity, efficiency, useful life, or economy of operation. 2 Future Economic Benefits are those benefits derived from the asset beyond the current accounting period. Hence the asset must have a useful life greater than 12 months (i.e. non-current). 3 Physical Assets are tangible; e.g. cash, plant, buildings, infrastructure, land 4 Non-Physical Assets are intangible; e.g. intellectual property, trade marks, goodwill, equity investments). Page 5 of 11

6 APPENDIX 2 ASSET MANAGEMENT WORKING GROUP As an instrument of delegation from the Asset Management policy, the following documentation outlines the Terms of Reference to address the needs and expectations of Asset Management within Council and the community. Strategic Issues As part of the implementation of asset management policy and strategy, the establishment of an Asset Management working group is required. This working group is comprised of a representative from each area of asset management involving the asset owner, maintainer and user. This allows each representative to take ownership of the outcomes of asset management. This Asset Management Working Group provides a corporate approach to asset management problem solving, resource sharing, understanding of financial asset management philosophies and overall ownership of asset management plan outputs. The direct involvement of the General Manager, Director Works and Engineering Services, Director Environmental Services and Director Corporate Services provide executive emphasis on the importance of the asset management planning process and its product. Through this Working Group, Council becomes well informed of the importance to ensure that asset management is sustainable and financially secured within the operating budget. Council s long term asset management planning requires the following key strategic issues to be addressed: The need for the Council to develop a coordinated and integrated approach to the development of asset management plans and capital works programs with a reporting function to the Senior Management Team and Council. Recognition of risk management in asset management plans. Consultation with key stakeholders such as the community, users, council and staff, to develop asset management systems that reflect whole of life sustainability. Establish a forum to foster networking and coordination of key players on asset management and capital works programs between management units. Coordinate and integrate where appropriate, asset information systems to record maintenance and improvement of Council's physical assets. Establishment a cross-functional multi discipline work team to facilitate discussion, ideas, innovation and best practice approach to asset management. Page 6 of 11

7 PURPOSE OF THE ASSET MANAGEMENT WORKING GROUP Develop an asset management policy and procedures to implement policy. Develop an implementation strategy for asset management and resource requirements utilising organisational mechanisms that reflect a corporate approach. Facilitate the development of integrated asset management plans and capital works programs with a reporting mechanism to the Senior Management Team and Council. Facilitate appropriate organisational mechanisms and work flows for the maintenance and improvement of Council's physical assets, with links to GIS, data collection systems and other asset management software systems and reports to Senior Management Team on outcomes. TASKS Establish an Asset Management policy document for Councils consideration in November Identify key parameters and priorities of asset management having due regard to: Expectations of community Determined levels of service Potential funding requirements Address the long-term future needs of asset management planning through engagement of the community, risk management and strategic action plans within the Strategic Plan. Develop a staff matrix of staff skills and responsibilities relative to asset management Investigate and improve data collection procedures and information flow across the organisation. To formulate long-term integrated asset management plans for all physical asset categories. Ensure that processes are in place to ensure long-term capital works program is based on whole of life concept. Monitor ongoing progress of asset management plans and outputs and provide a regular reporting procedure to the Senior Management Team and Council. OUTCOMES EXPECTED Document that clearly defines the roles and responsibility in Asset Management. Commitment to good governance in Asset Management that is provided in a consistent manner. Mechanism that allows an appreciation of the existing assets prior to planning for the future. Framework for management and staff to provide clear and concise information to Council. Tool to develop priorities for Asset Management funding. Capital works evaluation framework. Encouragement for innovation to asset management work practises. Page 7 of 11

8 ASSET MANAGEMENT WORKING GROUP (COUNCILLOR REPRESENTATIVE (2), SENIOR MANAGEMENT TEAM, TECHNICAL SERVICES OFFICER, SENIOR FINANCE OFFICER) To prepare the "overarching" Asset Management Policy and Asset Management Strategy for consideration by Senior Management Team. To develop Asset Management plans documenting required allocation of funding and improvement plans for individual asset groups, using the principles of lifecycle analysis. In consultation with the community and key stakeholders develop asset management "levels of service" to agreed risk and cost standards. To develop and implement maintenance, refurbishment and capital works (refurbishment/renewal) programs in accordance with Asset Management plans and report to Senior Management and Council. To develop and implement procedures that ensure the asset database is maintained and updated and provide required reports to Council to meet their statutory and legal responsibilities. To develop and implement processes and procedures that allow for the whole of life and continued management and ownership of assets including all asset life cycle management functions. To develop a Capital Evaluation Framework to assist in prioritising projects when assessing a Capital Works Program. To present information to Senior Management Team and Council in terms of Asset Management lifecycle risks and costs. Promote and raise awareness of asset management to the Council, staff, users and community. ASSET MANAGEMENT WORKING GROUP MEMBERS This cross-functional multi discipline Asset Management Working group will comprise representatives as nominated and/or from the following work units: Councillor representative (2) General Manager Director Works and Engineering Services Director Environmental Services Director Corporate Services Technical Services Officer Senior Finance Officer ASSET MANAGEMENT STAKEHOLDERS The following are identified stakeholders in asset management: Councillors State & Commonwealth Government Community/User groups/asset Tenants Service Providers Directors General Manager Page 8 of 11

9 Asset Management Working Group Structure Council Representative (2) Senior Management Team General Manager Directors (3) Technical Services Officer Senior Finance Officer Services Operations Asset Design Finance Risk Management Information Technology CROSS-FUNCTIONAL MULTI-DISCIPLINE TEAM STRUCTURE (For Asset Management) Page 9 of 11

10 APPENDIX 3 ASSET REGISTER Category Value* Depreciation WDV Roads & Bridges $39,172,704 $30,221,523 $8,951,181 Sewerage $1,723,327 $1,208,727 $514,600 Stormwater $1,128,965 $560,198 $568,767 Water $2,205,860 $1,340,027 $865,833 Buildings & Airport $4,902,724 $549,224 $4,353,500 Total $49,133,580 $33,879,699 $15,253,889 * Value as at June 2003 Page 10 of 11

11 APPENDIX 4 TIME FRAMES AND DEADLINES This table has been prepared to provide a guide of the intended timeframe in implementing the Asset Management Policy along with an indication of the responsibilities. Action Responsibility Timeframe To prepare Asset Management Policy and AMWG October 2003 Strategy To review Asset Management Policy and SMT/Council November 2003 Strategy To adopt Asset Management Policy and Strategy Council November 2003 To develop an Asset Management Plan AMWG Staged Roads and Bridges Airport Buildings Waste Management Water Wastewater Recreation and Reserves March 2004 March 2004 September 2004 September 2004 December 2004 March 2005 September 2005 To develop Capital Evaluation Framework AMWG February 2004 To review Capital Evaluation Framework SMT/Council March 2004 To adopt Capital Evaluation Framework Council March 2004 Page 11 of 11

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