What is Asset Management in Local Government?

If you work for local government, you know how difficult it can be to meet the needs of everyone in your community. There are many things the local government takes care of for regular citizens with our tax dollars, but some of the most important things are municipal assets.

Government worker working on electricity

Image Credit: Pexels

What are these “assets” and what is the best way for our local government to manage and maintain our municipal resources? Here’s how it works.

What are assets?

When we talk about assets in the context of municipal resources, we’re referring to the services provided for us by our municipality in order for us to live our daily lives, often funded by taxpayer dollars.

This includes things like waste removal, such as trash, recycling, and yard waste removal; parks and recreation, including cemeteries and trees in public spaces; and water, which includes treatment plants as well as distribution systems.

Why is management important?

The way those in local government manage these assets is incredibly important for two reasons. One reason is because there are many requirements that need to be met, such as safety and regulatory requirements, when it comes to our local resources. While utilities such as waste removal or public water seem like a localized issue, there are still state and federal regulations that we must abide by in order to meet requirements and ensure our systems are safe and effective.

The second reason asset management is important is because it saves our local government time and money. As taxpayers, we do not want our money going toward an ineffective system if there’s a better way.

How can these assets be managed?

One of the most effective ways for your local municipality to manage community assets is with an infrastructure asset management system. By using advances in technology, we can now streamline the process, saving your local government both time and money, and allowing them to focus on the real issues in our community.

From day-to-day practices to unexpected maintenance, a strategy is needed to best serve the members of the community, and a software that takes care of this plan for you is the most effective method. Asset management software can also keep track of cost, helping make serious budget decisions when it comes to local resources. Without our utilities and our municipal resources, a community cannot function. But, by simplifying the process, our local government can focus on the hard-hitting issues of the day knowing our basic needs are taken care of.

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