Purpose

Approve the proposed Asset Management
Strategy

Decision

RESOLVED that
 

i.      
the
Strategy Document in Appendix 1 is approved as the council’s
Asset Management Strategy 2025 – 2030 (AMS).
 

ii.    
approval
of underpinning asset management plans is delegated to the
Executive Director: Place in consultation with the Cabinet Member
for Economy and Regeneration.

Reasons for the decision

i.      
The purpose of an AMS is to:
 
•      
align property assets and asset management activity with the
council’s strategic objectives.
•      
provide a framework for identifying the council’s aims and
key objectives to deliver by using property assets.
•      
ensure that decisions about the council’s building and land
assets are centred on delivering its high priority areas of climate
change response, affordable housing delivery and school
accommodation for children with Special Educational Needs and
Disabilities (SEND).
 

ii.    
Without an AMS the council runs a high risk of:
 

•      
being unable to demonstrate that it can act transparently and
consistently in the management of its portfolio of assets.

•      
management of and investment in the council’s assets being
under resourced and not targeted to the council’s
priorities.

•      
occupying buildings that are not fit for purpose with high costs of
remediation and, in extreme circumstances, unsafe buildings.

•      
leaving operational services to make property related decisions in
isolation.
 

iii.   
The strategy document builds on the successful delivery of
objectives set out in previously published asset management plans.
By producing a standalone strategy which will be supported by
separate, but more detailed asset management plans, there is an
opportunity to work in line with best practice and the latest
Public Sector Asset Management guidance.
 

iv.   
The strategy will be adopted from 2025 and is intended to remain in
place and relevant until 2030
 

v.    
The strategy is aimed at a wide audience, both internal and
external. In drafting the strategy, internal stakeholders were
consulted to gain an overview of the areas of focus. This provided
direction for the council’s property team to understand how
they should deploy their resources to meet the key strategic
objectives identified.
 

vi.   
This proposed strategy is not a detailed plan. Detailed Asset
Management Plans (AMPs) will be developed following the adoption of
the strategy, these will be agreed in line with recommendation 2.2
of this report.
 

vii.  
Whilst the strategy remains in place for five years after adoption,
it dictates the future performance management of its property
portfolio and the ability and capacity of its property teams to
meet the key objectives. This governance process is detailed within
the strategy and driven by an annual review of the deliverables
identified in the AMPs.
 

viii.Development and
implementation of the AMPs will be governed by the council’s
officer led Assets and Neighbourhood Regeneration Board.

Alternative options considered

i.      
The alternative to approving an AMS would be a “do
nothing” option.
 

ii.    
This would not mean that assets are unmanaged, but there is a high
risk that without reference to a strategy document, the portfolio
of assets would not be managed effectively, it would lack a clear
aim and be unlikely to align with the council’s corporate
plan and priorities resulting in risk to the council.