Asset Management in the Victorian Public Sector
Asset management relates to the prudent administration of assets. It may be defined as:
'A comprehensive and structured approach to the long term management of assets as tools for the efficient and effective delivery of services.'
Asset management is relevant to the whole of asset life, and encompasses four key stages of the asset lifecycle:
- informed and proactive decision making regarding asset investment;
- procurement of appropriate assets;
- maintaining, upgrading and operating assets; and
- managing the treatment of assets at the end of their useful life.
In Victoria, asset management is undertaken in accordance with the Victorian Government's Asset Management Policy
, Sustaining Our Assets (2000)
, and the Asset Management Framework
The 2013-14 Budget papers are now available on the Budget website.
Future direction for public private partnerships
The Treasurer has announced a set of reforms that will guide the next phase of PPP investment in Victoria.
Natural Disaster Financial Assistance
Councils need to provide financial assistance claims for all eligible costs associated with infrastructure repairs for the 2010-11 Victorian floods, as well as any other natural disaster events which occurred during 2010-11, by 30 June 2013.
The 2012-13 Model Report is now available. This document assists Victorian government departments and other public sector entities with the planning and preparation of disclosures for the 2013 Annual Report.