NSW Treasury has issued TPP 19-07 ‘Asset Management Policy for the NSW Public Sector’, which sets out the core management practices the NSW Government expects agencies to adopt to support their asset management processes with the objective of strengthening accountability, performance and capability across the NSW public sector.
The policy mandates NSW Government agencies adopt a whole-of-government and whole-of-asset lifecycle approach to their assets, through its core requirements:
Core Requirement 1: Asset Management Principles
Core Requirement 2: Asset Management Framework (the framework)
Core Requirement 3: Policy compliance and disclosures.
The Policy applies to all budget material agencies (as listed in NSW Budget Paper No. 1), except for state-owned corporations and public financial corporations.
This Policy is effective from 31 October 2019 and supersedes TPP 13-03 ‘Total Asset Management Policy for the NSW Public Sector’ and the associated documents. All other existing policies relating to NSW Government assets management continue to apply.