Asset Plans (Victoria) – Will your Council be ready for June 2022?

Alfonso Della Monica - Regional Manager Vic/Tas

Alfonso Della Monica

Regional Manager Vic/Tas

The Local Government Act 2020 (“the Act”) Victoria requires that Councils must adopt a 10-year Asset Plan by 30 June 2022 in accordance with its deliberative engagement practices.

At the CT Management Group, we specialise in the development of Asset Plans across all asset classes with our integrated approach to preparing 10-year Asset Plan providing the opportunity to develop an Asset Plan that is driven by services.

How can you plan asset requirements without an understanding of the needs of the services provided to the community?

Effective stewardship of assets assumes that assets exist to support the delivery of service outcomes to the community. Therefore, as a core part of its Asset Plan, Council should develop and adopt functional service level standards across all services and subsequently classes of assets.

The Asset Plan should define these functional performance standards for each asset class/type, as well as the necessary investments that will be required to achieve this (i.e., maintenance, renewal, new investment) and maintain a link to Councils Service Plans.

Assumptions underpinning the Asset Plan should be transparent and linked to preparation of the Long-Term Financial Plan, Annual Budget, service standards, and major capital initiatives to ensure the levels of service proposed are sustainable.

We understand that preparing a 10-year Asset Plan that meets the deliberative engagement requirements of the Act will take some time and Councils should be commencing this process now.

Using our Integrated Service and Asset Planning approach involves:

  • Describing and aligning the assets to services (as informed by service planning)
  • Managing the future demand for assets to achieve and maintain financial sustainability
  • Optimising the lifecycle management of assets (achieving service demand at the lowest lifecycle cost)
  • Identifying and managing risks associated with the relevant asset (including criticality and condition)
  • What funding (operating and capital) is required to operate the asset portfolio in alignment with the service plans over a 10-year planning period
  • Maintaining good governance with annual reviews of asset policy and strategy
  • Continual improvement in the management of assets and performance monitoring

We have experienced and qualified Associates ready to assist Councils meet their Asset Plan requirements.

For more information about our approach and a proposal to assist your Council please contact Alf Della Monica Regional Manager (VIC/TAS) on 1300 500 932 or submit the form below.

Alfonso Della Monica
Regional Manager VIC/TAS

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