City of Stirling Corporate Business Plan

Informing strategies and plans: Asset Management Framework

The City of Stirling’s Asset Management Framework is a structured suite of guiding documents that supports the effective administration of infrastructure assets. These assets are critical to delivering amenities to the community and achieving the City’s sustainability targets. The City is committed to managing its assets in a responsible and cost-efficient manner, reflecting its dedication to community service and long term value.

embedded within the Integrated Planning and Reporting Framework. This alignment ensures that asset management practices support the City’s strategic direction and community vision, while promoting transparency and high-quality service delivery shaped through

The City’s asset portfolio includes roads, drainage infrastructure, buildings, parks, and open spaces. These assets are complex due to their high value, long service lives, and environmental implications. To manage them effectively, the City relies on data driven financial and sustainability planning. This approach ensures readiness for future costs associated with asset renewal and replacement. As community expectations evolve, financial planning must also adapt to accommodate increasing demand for enhanced services. Scheduled renewal and replacement cycles offer opportunities to reshape the asset base in response to emerging community needs, as identified in various strategic documents. Adding new assets introduces ongoing financial obligations, including operational and lifecycle costs, to sustain or improve service levels. The Asset Management Framework addresses these challenges by outlining how the City will invest in and manage assets to meet both current and future community needs. This involves ensuring adequate funding, building workforce capability, establishing strong governance, refining operational processes, integrating systems, managing asset data, assessing risks, and maintaining service standards — all with a focus on sustainability and efficiency. The Framework is aligned with the AS/ISO 55000 standard for asset management and is

community engagement. Key documents of the Asset Management Framework:

• Asset Management Policy: Outlines the City’s asset management principles and commitment to the AS/ISO 55000 standard • Strategic Asset Management Plan: Provides

strategic direction for enhancing asset management systems and capabilities

• Asset Management Plans: Specific plans for roads, paths, drainage, buildings, and parks that detail actions and resources for effective service delivery • Integration with the Long-Term Financial Plan: Ensures asset-related financial planning is accurate and aligned with the City’s future needs. • Alignment with other City strategies: Supports planning for new or upgraded assets to meet identified community priorities. The City regularly reviews and refines the Asset Management Framework to strengthen its strategies and ensure the continued delivery of high-quality, sustainable services to the City of Stirling community.

CORPORATE BUSINESS PLAN 2025–2029 | City of Stirling

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