Sustaining Local Assets Policy

The Sustaining Local Assets Policy is a policy released by Local Government Victoria in 2003.

The policy lists a number items that MAY be included in Asset Management Policies, Strategies and Plans.


An Asset Management Policy;

  • establishes the goals and objectives for asset management providing a platform for service delivery
  • integrates asset management with the council corporate planning using an integrated multi-disiplinary approach
  • maximises value for money by adoption of life cycle costing, combined with disciplined performance measurement
  • assigns accountability and responsibility for service delievery together with asset management
  • promotes sustainability to protect the needs of future generations


An Asset Management Strategy;

  • links and integrates council's plan and resources; indicating which services are to be delivered through which assets;
  • forecasts future service delivery needs and the capacity of asset to meet those, on short, medium and long-term baese;
  • explicitly and fully overviews expenditure on new assets and the existing asset base;
  • specifies asset management procedures, systems and training; and
  • establishes systems for asset performance measurement.

Asset Management Plan

An Asset Management Plan;

  • defines levels of service within financial/resource/risk constraints;
  • presents cash flow forecasts for acquisition, operation, and maintenance and capital expenditure, and for revenue, where relevant;
  • specifies the capital expenditure for renewing, upgrading or extending assets;
  • justifies the contribution of each asset in terms of value for money for the council; and
  • establishes the targets and measures that will be used for monitoring progress with its implementation.

Related Pages

External Links & References

  1. Google Search
  2. Sustaining Local Assets Policy (PDF)
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