Corporate Business Plan 2026-2030

Strategic Asset Management Framework The City of Stirling’s Asset Management Framework is a structured suite of guiding documents that supports effective planning, investment and management of infrastructure assets. These assets are critical to delivering community services, supporting liveable places and achieving the City’s social, economic and environmental objectives.

• Risk management • Service planning and community consultation • Social, economic and environmental outcomes. The framework is aligned with AS/ISO 55000 standard for asset management and is embedded within the Integrated Planning and Reporting Framework, connecting asset planning to the City’s strategic direction and long-term financial sustainability. Key documents of the Asset Management Framework: • Asset Management Policy: sets principles for delivering sustainable services and long-term value • Strategic Asset Management Plan: defines direction, capability and maturity • Asset Management Plans: detail service levels, risks and lifecycle strategies by asset class • Long-Term Financial Plan alignment: ensures investments are financially sustainable • Alignment with other City strategies: supports coordinated planning for growth and community priorities. The City will continue to evolve its Asset Management Framework to strengthen decision- making, improve service outcomes and ensure assets are managed sustainably for current and future generations.

The City manages a diverse portfolio of assets, including roads, drainage, buildings, parks, and open spaces. These assets are high value, long- life, and resource-intensive, requiring careful planning to ensure they continue to meet current and future community needs. The City is committed to managing its assets in a responsible, transparent, and cost-effective manner. This includes balancing service levels, lifecycle costs and risk, while supporting social, economic and environmental outcomes to deliver long-term value to the community, in line with the Asset Management Policy and Sustainability Policy. Asset investment decisions are informed by data and a broad range of considerations, including service outcomes, whole-of-life costs, environmental impacts, and community expectations. As needs evolve, the City adapts its planning to respond to growth, regulatory requirements, emerging standards, and opportunities to secure external funding. Renewal and replacement programs are used not only to maintain assets, but to improve performance, reduce environmental impact, and align infrastructure with future priorities. New or upgraded asset investments are carefully assessed, recognising the long-term operational, maintenance, and renewal costs required to sustain service levels over time. The Framework supports consistent, evidence-based decision- making by integrating: • Financial planning and lifecycle costing

Our Informing Strategies and Plans

71