City of Stirling Transport Asset Managment Plan

3.2 Legislative requirements In addition to using asset management as a tool to manage the community’s assets and provide better services to the community, there are also legislative requirements that the City must comply with in relation to the management of its transport assets. The TAMP is governed by many legislative and statutory requirements including Australian and State legislation and regulations. Some of these are listed on Table 3.1 below.

Legislation/standard

Requirement

Western Australia Local Government Act 1995

This Act sets out the role, purpose, responsibilities and powers of local governments, including the preparation of a long-term financial plan supported by asset management plans for sustainable service delivery. Part 3, Division 3, Subdivision 5 establishes certain provisions about thoroughfares. Division 3 referring to Section 5.56 of the Act requires that each local government is ‘to plan for the future of the district’ by developing and adopting a strategic community plan and a corporate business plan. Part 6 establishes the local government’s functions with respect to secondary roads. This Act prescribes processes for minimised impact on heritage sites as a result of roadworks. Together, these Acts prescribe processes in the management and creation of roads and laneways. These set out the financial reporting standards relating to infrastructure assets. Standards of particular relevance to infrastructure assets include: • AASB 116 Property, Plant and Equipment – prescribes requirements for recognition and depreciation of property, plant and equipment assets • AASB 136 Impairment of Assets – aims to ensure that assets are carried at amounts that are not in excess of their recoverable amounts • AASB 13 – Fair Value Measurement – defines a market-based measurement system for ‘Fair Value’ measurement of assets. Asset management plans should be developed as informing strategies to allow a local government to set its priorities within its resourcing capacity and deliver short, medium and long-term community priorities and aspirations in their corporate business plan. This framework was developed to assist local governments plan and manage assets so that the long-term aspirations of their communities can be reached. These Acts provide for the safety and health of employees, contractors and the public utilising the City’s assets.

Local Government (Administration) Regulations 1996

Main Roads Act 1930

Aboriginal Heritage Act 1972 and Heritage Act of WA 1990 Town Planning and Development Act 1928, Land Administration Act 1997, Transfer of Land Act 1893 Occupational Safety and Health Act 1984 and Occupational Safety and Health Regulations 1996

Australian Accounting Standards

Integrated Planning and Reporting Framework and Guidelines

Asset Management Framework and Guidelines for Western Australian Local Governments

Table 3.1 Legislative requirements

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