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

49 Corporate Asset Management Plan CCoorrppoorraattee AAsssseett MMaannaaggeemmeenntt PPllaann Each sub-plan will assess the confidence level associated with the data for the asset class. The definitions of the confidence levels are: Confidence Grade Definition A Highly Reliable Data Based on sound records, procedures, investigations and analysis that is properly documented and recognised as the best method of assessment. B Reliable Data based on sound records, procedures, investigation and analysis that is properly documented but has some minor shortcomings eg old data. C Uncertain Data based on records, procedures, investigations and analysis which is incomplete or unsupported or extrapolation from a limited sample. D Very Uncertain Data based on unconfirmed verbal reports and/or cursory inspection and analysis. Table 5 Financial Forecast Confidence Levels Definition The current confidence level for each asset class has been included below. Asset Class Confidence Level Road Network B/C Stormwater Drainage C Buildings and Structures B/C Park Infrastructure and Open Space B/C Recreation Facilities B/C Carparks C Plant & Equipment B/C Waste Facilities B/C Table 6 Confidence Levels Overall, the confidence level is C, meaning there are improvements that can be made to increase the accuracy of the financial forecasts. Each sub-plan will identify processes, procedures and/or projects to improve the accuracy of the financial forecasts. The need for better disaggregated data has been a common limitation in analysing the historic and consequently the future requirements. A move towards activity based budgeting to associate expenditure with the activities required to deliver Councils services would provide a more complete and useful data for further analysis.


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