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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 Flannery
Director, Property and Facilities Mr Fabby Ernesta