Frankston City Council Asset Management Policy

Frankston City Council has adopted a new Asset Management Policy at the 11 September 2023 Council meeting.

The purpose of an Asset Management Policy is to provide the guiding principles for the long-term sustainable management of Council’s asset portfolio. The Policy is applicable to all Council owned assets and all Council managed assets (including leased assets) that:

  • Are used by the community.
  • Support the delivery of services provided for the benefit of the community.
  • Are held by Council for future use.

The Policy provides a framework for all Councillors and Council officers involved in the creation, operation, maintenance, upgrade, renewal and rationalisation of Council assets. It applies to all contracts applicable in these areas and to all officers responsible for the delivery of services that make use of Council assets.

The Policy has been developed in accordance with international asset management standards and the recommendations in the International Infrastructure Management Manual published by the Institute of Public Works Engineering Australasia (IPWEA).

The full Asset Management Policy can be viewed below or you can download a copy.

What is Asset Management?

Council defines asset management as the coordinated activities that enable Council to realise lifecycle value from assets.

Assets include:

  • Infrastructure assets (roads, footpaths, cycle paths, kerbs and channels, street furniture, signage, street trees, bridges, buildings, drains, playgrounds, open space and sporting reserve infrastructure)
  • Cultural assets (art collections)
  • Office equipment (software, desks, computers
  • Vehicles
  • Plant equipment and associated infrastructure required for the delivery of Council services.

Council manages assets in accordance with a set of tools – policies, plans and business processes, shows in the below hierarchy.

Hiserarchy showing where Policy sits within Council's asset management tools, at the top of a pyramid, with the Strategy, then Plan, then individual plans, then operational plans below.