Asset Management Strategy 2022 - 2026

objectives and ensure sufficient resources are applied to manage the assets. The Audit Committee of Council may also consider the resourcing and management of assets.

The General Manager has overall responsibility for developing infrastructure asset management systems, policies and procedures and financial models and reporting on the status and effectiveness of asset management within Council.

The Asset Management Steering Committee is responsible for ensuring that all asset management activities are consistent with the objectives of Council’s Community Strategic Plan, and the Integrated Planning and Reporting Framework. The committee is made up of the managers responsible for the infrastructure assets, and the finance manager. The committee members are responsible for ensuring that people, processes and systems are in place and work together to deliver services and meet the corporate infrastructure asset management objectives. They will also oversee the development and implementation of asset and risk management plans for all asset classes.

Council is in the process of developing an Asset Management Responsibility Assignment Matrix that details the organisational relationships and lines of responsibility with regard to asset management over the asset lifecycle.

1.7 Responsibility for the AM Strategy

The organisation structure of Inner West Council places the infrastructure assets in the division under the Director Infrastructure. Within this division, three groups manage the majority of infrastructure assets comprising transport, stormwater, property and open space.

The Director Infrastructure is responsible for the development and maintenance of this AM Strategy. Individual asset class plans detail the position responsibilities within Council as they relate to the asset management activities for each of the asset classes.

The AM Strategy will be reviewed at regular intervals as part of the asset management maturity selfassessment, which has been identified as an action item in the Improvement Plan.

1.8 Planning Timeline

The AM Strategy has a planning horizon of 10 years. The AM Strategy will be reviewed and amended to recognise any changes in the Council Plan and service levels, and needs arising from Precinct Structure Plans, community asset needs strategies, park plans of management, master plans and/or resources available to provide those services as a result of the budget decision process, in the year following Council general elections

1.9 Legislative Requirements

In addition to using asset management as a tool to manage the community’s assets and provide better services to the community, there are also legislative, regulations, standards and guideline requirements that Council must comply with in relation to the management of its assets.

Councils in NSW are required to undertake their planning and reporting activities in accordance with the Local Government Act 1993 and the Local Government (General) Regulation 2005. The Act provides that the Deputy Director General (Local Government), Department of Premier and Cabinet can issue Guidelines (Planning and Reporting Guidelines – March 2013) that must be followed by local councils when undertaking their planning and reporting activities.