Territory Stories

2009 Corporate total asset management plan

Details:

Title

2009 Corporate total asset management plan

Other title

Darwin City Council

Collection

City of Darwin reports; Reports; PublicationNT

Date

2009

Description

Made available via the Publications (Legal Deposit) Act 2004 (NT).

Notes

Date:2009

Language

English

Subject

Darwin(N.T.) -- Council -- Periodicals

Publisher name

Darwin City Council

Place of publication

Darwin

Copyright owner

Check within Publication or with content Publisher.

Parent handle

https://hdl.handle.net/10070/240707

Citation address

https://hdl.handle.net/10070/621982

Page content

48 Corporate Asset Management Plan CCoorrppoorraattee AAsssseett MMaannaaggeemmeenntt PPllaann 6.6 Key Assumptions made in Financial Forecasts This section details the key assumptions made in presenting the information contained in this asset management plan and in preparing forecasts of required operating and capital expenditure and asset values, depreciation expense and carrying amount estimates. It is presented to enable readers to gain an understanding of the levels of confidence in the data behind the financial forecasts. Key assumptions made in this asset management plan are: Index rates used to revalue assets from last revaluation to current values; Assumptions on the relationship between growth and increases in the asset stock; Assumptions on changes to useful life estimated to reflect improved maintenance and renewal practises; Present service levels will remain constant for the life of the plan. Accuracy of future financial forecasts will be improved in future revisions of this corporate asset management plan through the following means: More detailed financial analysis in individual asset management plans; Implementation of ongoing condition surveys will improve Councils knowledge of the overall state of its key asset groups; Refinement of asset data collection and management methods through the use of mobile loggers and the use of AIM, Councils corporate asset register, that will be single secure repository of data relating to key assets. This will be part of a ongoing review of asset management practices and long term financial analysis undertaken by Darwin City Council. Throughout the development of the Asset Management Plans, it will be necessary to make assumptions to bridge data gaps, so that the analysis can continue. The key assumptions made will be listed in each asset class sub-plan to clearly identify the accuracy and limitations of the financial forecasts.