2009 Corporate total asset management plan
Darwin City Council
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Darwin City Council
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14 Corporate Asset Management Plan CCoorrppoorraattee AAsssseett MMaannaaggeemmeenntt PPllaann The basic model is based on providing existing levels of service, which meets legislative and accounting requirements and provides long term (20 year) cash flow predictions. As improvements recommended in this plan are implemented, data quality and storage is improved and a whole of organisation commitment to asset management is realised, the move to the advanced asset management model can be made. The advanced asset management model includes predictive modelling, risk management and optimised decision making techniques to analyse option to determine the optimum long term asset management plan to deliver a particular level of service. 1.1.3 Purpose of Plan For the inaugural asset management plans for the major asset classes it was determined that the broad objectives should be to identify and document: The existing asset management practices and policies; The existing levels of service; The financial implications of the existing and future asset base; and The future asset management requirements and the actions and resource implications to implement these. This plan outlines the adopted levels of service, the life cycle costs associated with delivering these levels of service and the forecasted expenditure over the next 20 years for the road, building and stormwater asset classes. It is envisioned that the forecasted annual expenditure will provide the basis for Councils annual financial plan deliberations and future 4, 10 and 20 year financial models. Where the forecasted expenditure exceeds Councils ability to fund, other sources of revenue such as, grants, borrowing, discretionary reserve funds, increased user charges, partnerships with the Northern Territory or Commonwealth Governments or the private sector, or rate increases may be options that need to be considered. Alternatively modifications to the extent of new works delivered, reduced levels of asset service or reductions in operation services expenditure across the whole of Council will need to be considered.