Policy

Asset Management Plan - Policy

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1. Purpose and Objectives

The development of a forward Asset Management Plan (AMP) forms part of the University’s strategic planning processes and establishes priorities for the commitment of funds for future capital projects, including new academic developments, rationalisation or relocation of existing activities, and provision for growth.

2. Definitions, Terms, Acronyms

AMP – Asset Management Plan

3. Policy Scope/Coverage

This policy applies to all staff, students and organisational units within The University of Queensland.

4. Policy Statement

The University will set aside an annual allocation for capital projects, to be used for new developments and to refurbish, rehabilitate, adequately reuse and maintain existing building stock to meet contemporary demands.

The AMP reflects the scope of the projects contained within it and the added emphasis which is being given to refurbishment, rehabilitation, adaptive re-use and preventative maintenance of the existing capital asset stock.

The AMP adopts an integrated approach to the planning and scheduling of all major capital works, including new building work, consequential work for buildings vacated as the result of new construction, and rehabilitation, refurbishment, adequate reuse and maintenance of existing buildings. In developing the AMP the projects recommended for approval are allocated to one of the following categories:

  • New Space
  • Space Rehabilitation, Refurbishments and Re-locations
  • Planned Programs
  • Building Rehabilitation
  • Emerging Priorities and Feasibility Studies

Space is not regarded as ‘owned’ by existing occupants but as being available for alternative usage and occupancy to improve utilisation and meet changing service needs. More attention will be focused on improving the fitness of space for best practice activities. Capital expenditure will be driven by strategic priorities.

Custodians
Chief Financial Officer
Mr Andrew Betts
Director, Property and Facilities
Mr Steven Dickson

Procedures

Asset Management Plan - Procedures

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1.  Purpose and Objectives

These procedures enact PPL 7.20.03a Asset Management Plan – Policy.

2.  Definitions, Terms, Acronyms

AMP – Asset Management Plan

BCM – Budget Contribution Model. The document through which the allocation of income (CGS Block Grant, Research Block Grant and Tuition Fees) is made to each Faculty and Institute. The BCM also allows for the allocation of costs applicable for the overall management of the University – Central and Strategic Funding, Debt Servicing and the Capital Charge.

BSC – Budget Sub-Committee

ISC – Infrastructure Sub-Committee

3.  Procedures Scope/Coverage

These procedures apply to all staff, students and organisational units within The University of Queensland.

4.  Procedures Statement

The following principles have been adopted to guide the capital planning process.

  • An annual allocation for the AMP is determined through the BCM.
  • The Annual Allocation will be part of the University’s 3 Year Plan.
  • For each AMP project approved through ISC an individual project account is to be established within Unifi.
  • Those funds approved through the ISC shall be credited as income against the particular project.
  • To the extent there are external funds for the project, these funds shall be credited against the project once invoiced or received.
  • To the extent there are internal departmental contributions for a project, these funds shall be immediately charged against the department and credited to the project.
  • Approved project expenditure is to be debited to the project code.
  • Projects must be contained within the financial allocation determined for them, unless there is an agreed change of project scope.
  • Project budgets must include all costs associated with the project such as plant, site works and services, furniture, furnishings, blinds, landscaping, etc.
  • The cost of refurbishment of space vacated as a consequence of the occupation of new buildings will be specifically costed into the AMP.
  • A summary report of project expenditure against approved limits to be made available to the ISC and BSC.

5. Revision of the AMP

5.1 The AMP is reviewed and developed annually as part of the University's Strategic Planning processes. The ISC considers submissions from the University’s Senior Executive.

5.2 The Committee submits the revised AMP to the Vice-Chancellor. The AMP is submitted for Senate approval on the recommendation of the Finance Committee.

5.3 The Director of Property and Facilities prepares annually a Facilities Management Condition Statement. This provides an assessment of the physical condition of University buildings and plant and identifies any deferred maintenance and rehabilitation backlog. To assist in overcoming any backlog of major rehabilitation work, a commitment may be made to allocate funds over the planning period to rehabilitation projects.

5.4 The University seeks to improve its usage of existing assets rather than simply committing large amounts to the construction of new special purpose buildings.  Landmark new buildings will be considered only for areas of significant strength and must be justified on the basis of their cost being substantially supported by external funds provided to assist in their construction and subsequent maintenance over their economic life.

Custodians
Chief Financial Officer
Mr Andrew Betts
Director, Property and Facilities
Mr Steven Dickson
Custodians
Chief Financial Officer
Mr Andrew Betts
Director, Property and Facilities
Mr Steven Dickson