Asset

An asset is an object (physical or intangible) that has an identifiable value and a useful life greater than 12 months, that is or could be used by the entity responsible for it to provide a service.

Examples

Councils look after a broad range of infrastructure (or built environment) that deliver services to end users (the community). The individual infrastructure components are referred to as assets.

Generally assets fall into asset groups or asset classes.
Asset groups can include;

• Roads, roads ancilliary (e.g. kerb & gutter, drainage etc), traffic (e.g. signs etc)
• Parks & Reserves
• Buildings, swimming pools, playgrounds etc
• Stormwater Networks

As a specific example a sealed road is part of the built (transport) environment and it is made of of several asset components, namely;

• The earthworks (ground under the road)
• The pavement (sits on the earthworks and) provides the strength and durability of the road
• The wearing surface (sits on top of the pavement).

Related Pages

• Asset Management Plan
• Capital Works Program
• Fixed Asset

External Links

• Google Search