Infrastructure assets such as roads, drainage and buildings represent a significant capital cost to Local Government and these must be maintained over their life and eventually replaced.
Not managing infrastructure assets effectively results in:
- Poor level of service to the community (more complaints to Elected Members)
- Increase in user costs
- Decline in economic activity (loss of people, industries, community facilities)
- Increase in maintenance costs
- Large funding needs in the future to renew aged assets
- Increase in personal injury and property damage incidents
- Increase in risk exposure and liability claims
Infrastructure Asset Management has three key messages to assist Elected Members in understanding infrastructure asset management issues and improving asset management capacity within their organisations. The three key messages are understanding your stewardship responsibilities, knowing what your community can afford and the need for long term planning.
Topics covered within the course include annual budgeting, budgeting constraints, long term financial planning, risk analysis, asset management plans, stewardship, community affordability and sustainable service