The Asset Management Policies that we have developed are there to establish a broad framework for undertaking Asset Management in a structured and coordinated way. It contain the following:
- Context & Importance
- Asset Management Vision & Goals
- Responsibilities & Relationships
- Broad Time-Frames & Deadlines
- Integration of Asset Management into the organisation
- Audit & Review
Organisation's Mission
An organisation's Asset Management goal is to effectively maintain uniform accountability and provide accurate records for the acquisition, maintenance, control, and disposition of an organisation's nonmonetary assets.
Functions of Nonmonetary Asset Management
- Accurate accounting, acquisition, movement, and disposition of the nonmonetary assets
- Transfer of the nonmonetary assets
- Salvage/Recycle useable parts
- Maintain up to date nonmonetary assets records
Nonmonetary Asset Categories
There are the six main asset categories defined as follows:
- Infrastructure Assets
- Community Assets
- Heritage Assets
- Investment Properties
- Intangible Assets
- Other Assets
Infrastructure assets are defined as any asset that is part of a network of similar assets.
Examples are roads, water reticulation schemes, sewage purification and trunk mains, transport terminals and car parks.
Community assets are defined as any asset that contributes to the community's well-being.
Examples are parks, libraries and fire stations.
Heritage assets are defined as culturally significant resources.
Examples are works of art, historical buildings and statues.
Investment properties – are defined as properties that are acquired for economic and capital gains.
Examples are office parks and underdeveloped land acquired for the purpose of resale in future years.
Intangible assets are identifiable assets without physical substance.
Other assets are defined as assets utilized in normal operations.
Examples are plant, equipment, motor vehicles and furniture and fittings.