5.8 Capital asset management
The Department manages, on behalf of the Crown, assets worth more than $5 billion, primarily consisting of land. As well, $470 million is invested in departmental assets to deliver its agreed outputs. These include campsites, tracks, huts, toilets and visitor centres. Currently, for example, the Department manages 12,600 kilometres of walking track and 334 campsites.
In 2002, the Government agreed to a twenty-year $349 million programme to replace, upgrade and maintain these visitor assets. Funding was set to accelerate over time, and a considerable increase in the annual allocation is now taking effect.
The Department has continued to improve its public asset management capabilities. A major initiative is the implementation of a new integrated asset management information system (AMIS). This began in 2007-2008, and will be fully functional by 2008-2009. It replaces separate systems for infrastructural, visitor, historic and fencing assets, and will facilitate improved monitoring, control, reporting and planning for asset management. This system approach will be broadened to cover all assets owned and managed by the Department.
Actions in 2008-2009
The focus will be on:
- Achieving compliance with the new capital asset management framework developed by the Treasury.
- Improving the long-term financial operational planning for assets.
- Encouraging efficient use of capital and related asset management practice.
Links to State Services Development Goal: 3 Value-for-money State Services
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