2009 Corporate total asset management plan
Darwin City Council
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Darwin City Council
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10 Corporate Asset Management Plan CCoorrppoorraattee AAsssseett MMaannaaggeemmeenntt PPllaann Review of Asset Registers and Collection of Condition Data The Asset Management Plans supporting the financial forecasts shown in this document have been based on asset age, primarily due to limited amount of condition data available. This is recognised as presenting a good assessment of the average position, however, there are many factors that can result in an asset exceeding or failing to reach its useful life. By ensuring that the asset registers are up to date and the condition of assets are known, Council reaps the following benefits: A snapshot in time of the condition of the asset base. A condition based replacement profile. Allows for more sophisticated analysis of maintenance requirements. The potential for a condition based revaluation of Councils assets. Potential reduction in risk of catastrophic failure of assets. Allows for future predictive deterioration modelling. Financial Tracking of Expenditure on Assets and Activities Most asset classes fail to track the lifecycle costs associated with an asset, making it impossible to compare against benchmarks. At the 2004 LGAQ Annual Roads and Transport Forum, it was presented that an $8,000 barbeque has an ongoing cost to Council of $9,000 per annum over its 10 years useful life. At this stage Darwin City Councils financial recording is unable to determine our costs to this level. The primary benefit of improving the financial tracking to assets is that it provides better data for asset and financial management analysis.
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