Council assets are often expensive and need to last a long time. Asset management plans ensure councils know how much it will cost to maintain and replace their assets as they age. This lets them know how much revenue they need from rates and fees, including the servicing of any borrowings.

Collectively, Queensland councils own and operate approximately $114 billion worth of infrastructure assets. Accurate information on where the assets are, and on their condition and value, helps councils make informed decisions on asset replacement projects, knowing they can afford them for the long term.

This report looks in detail at 5 councils across the state and their approaches to managing their assets. The Queensland Audit Office also surveyed all councils and asked them to self-assess their asset management approaches. The Office has made recommendations to the 5 individual councils, the whole sector, and the Department of State Development, Infrastructure, Local Government and Planning.

The Queensland Audit Office observed from the self-assessment asset management survey that only 9.6 per cent of councils had an overall maturity average at or above the minimum requirements of the internationally recognised standard for asset management. It highlights the need for stronger leadership to embed asset management processes, including withstanding staff changes and helping councillors to deliver better community services.