Parks & Sporting Grounds Asset Management Plan 2022-2032

Legislation Requirement

Building Code of Australia (BCA)

A uniform set of technical provisions for the design and construction of buildings and other structures. This code has direct relevance for building maintenance, renewals and upgrades.

Table 9: Legislation Relevant to Management of Open Space Assets

Regulations, Standards & Guideline requirements that impact the delivery of Council’s Parks and Sporting Grounds services are outlined below.

Regulation / Standard / Guide Requirement

Integrated Planning and Reporting (IP&R) framework

All councils in NSW are required to work within the IP&R framework to guide their planning and reporting activities.

IP&R provides a pathway for elected representatives to:

• work directly with their community to identify long-term priorities for local identity, growth and lifestyle;

• understand the range of services the community wants, the service standards they expect and the infrastructure that will be required;

• report to the community on their success in achieving these goals; and

• be assured that their council is meeting planning, consulting and reporting requirements under other laws.

ISO 55000 Suite, 2014

The International Organization for Standardization's ISO 55000:2014 Asset Management (ISO 55000) provides a global guide to better practice in asset management, including asset information management.

ISO 55000 specifies that entities should align information requirements to asset management needs and risks, along with requirements for collecting, managing, evaluating, and ensuring consistency and availability of information for asset management decision-making.

Australian Accounting Standards Board (AASB)

Provides direction and guidance on the financial and reporting expectations of entities, to ensure a consistent approach to accounting records. The following regulations apply to Council:

AASB 116 Parks and Sporting Grounds, Plant & Equipment – prescribes requirements for recognition and depreciation of Parks and Sporting Grounds, plant and equipment assets.

AASB 136 Impairment of Assets – aims to ensure that assets are carried at amounts that are not more than their recoverable amounts.

AASB 1021 Depreciation of Non-Current Assets – specifies how depreciation is to be calculated.

AAS 1001 Accounting Policies – specifies the policies that an organisation is to have for recognition of assets and depreciation.