ASSET MANAGEMENT SUB COMMITTEE
Composition
The Asset Management Group will consist of four members of the Executive (to be appointed by the
Executive).
The Group will be chaired by the Portfolio Holder (Corporate Governance).
Terms of Reference
1. To meet bi-monthly.
2. (a) Generally:
To develop the corporate strategy for the asset resources of the Council and to recommend
this to the Executive for adoption by the Council.
(b) Existing Assets:
(i) To put in place mechanisms for the identification of the land and property needs of the
Council and it’s Service Departments and to provide guidance and examine the
maximum utilisation or rationalisation and whenever appropriate to identify
uneconomic surplus property for disposal and to make any appropriate
recommendations to the Executive.
(ii) To identify land and property in the Council’s corporate ownership which require to be
improved to meet development opportunities or give improved returns, provided such
investment is economically justified and to make any appropriate recommendations to
the Executive.
(iii) To ensure that effective systems are in place to regularly inspect and maintain the
Council’s land and property in order to comply with all health and safety and other
legislation and to ensure that all of these assets are kept in the condition that is fit for
purpose.
(iv) To identify all land and property resources owned by the Council which are vacant,
becoming vacant or under-utilised – either physically or in economic terms – and
consider and recommend to the Executive proposals which would promote the
achievement of the Council’s Strategic and Policy objectives.
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(v) To identify land assembly needs and opportunities and property surplus or likely to
become surplus owned by other public authorities in the area and to make any
appropriate recommendations to the Executive.
(c) Revenue growth and Special Works:
(i) Appraisal of new projects (including acquisition opportunities) for revenue growth and
special works funding with particular reference to the works identified from prioritised
building condition surveys and programmes;
(ii) An overview of works required and implemented to comply with the Disability
Discrimination Act;
(iii) Quarterly Programme Monitoring (including Slippage, Overspends and Programme
virement). The aim is to promote the timely use of resources;
(iv) Post-project appraisal to check actual outcomes (finance/service) against plans;
and to make any appropriate recommendations to the Executive.
(d) Capital Programme:
(i)Appraisal of new projects over a value of £10,000 using a standard formal appraisal
process;
(ii) New projects under £10,000 will not be required to comply with the full standard formal
appraisal process;
(iii) Quarterly Programme Monitoring (including Slippage, Overspends and Programme
virement). The aim is to promote the timely use of resources;
(iv) Co-ordinate the production of the five-year capital programme;
(v) Post-project appraisal to check actual outcomes (finance/service) against plans;
and to make any appropriate recommendations to the Executive.
(e) Budget Carry Forwards:
(i) Appraisal of all requests for Budget Carry Forward which relate to work to the Council’s
Assets;
and to make any appropriate recommendations to the Executive.
(f) Performance Measurement:
(i) Develop Asset Performance Indicators
(ii) Set up a regular monitoring process