Hospitals, schools, public housing, roads, bridges, buses and trains are just some of the assets used by government in providing services to citizens.

The NSW Government’s asset base is impressive in size - with a value of around $167 billion and with government plans to spend around $8 billion acquiring or replacing assets in the current year. Another $2 billion is spent each year on maintenance.

Good asset management is very important to government; even a small efficiency gain in this area can provide significant returns. Good practice by those responsible for managing assets can improve reliability, extend asset life, save on maintenance costs and aid in identifying and disposing of unnecessary or non-performing assets.

Improving the NSW public sector’s approach to asset management has been on the reform agenda for at least a decade. Changes in practice have been accelerated more recently by integrating asset management policy with the budget process.

In this audit we examined NSW Treasury’s efforts to improve asset management practices in the public sector and the progress made by 3 agencies - the Department of Corrective Services, NSW Fire Brigades and the Powerhouse Museum - towards better managing their asset portfolios.

This report informs Parliament and the community on progress to date and what more needs to be done to ensure that agencies manage assets effectively and achieve best value.

Parliamentary reference - Report number #143 - released 12 October 2005

Reliably supplying water to our State’s principal city, Sydney, is a major responsibility for the Government.

The community has been made keenly aware in recent years that inflows have been decreasing, and that Sydney has been using more water than is available. In April 2005 the water in Sydney’s storages dropped to 41.5 per cent of their capacity – the lowest level since the construction of Warragamba dam in 1960.

As Sydney continues to develop, it is expected that the demand for water will increase. The way that we use it will need to be sustainable, as it has a direct impact on our economy, our lifestyle and our environment.

In planning for the future the State’s water agencies face a range of uncertainties. But the task is vital.

This report informs Parliament and the community on the progress made - and what remains to be done - to ensure a reliable water supply for Sydney.

Parliamentary reference - Report number #135 - released 4 May 2005

The Northside Storage Tunnel was the first major public sector construction project using an alliance approach. In our opinion, the outcome of the project suggests that an alliance approach, when applied to a suitable project and managed appropriately, can support positive project outcomes. And in many respects the Alliance worked well. There are, however, a number of issues that we believe need to be addressed for future alliances.

Parliamentary reference - Report number #113 - released 24 July 2003

The decision to seek development of Walsh Bay without a Master Plan and/or detailed study as to the state of the precinct presented significant problems throughout the life of the project. Now, four years later, negotiations still continue on the details of the final scheme. Based on the latest estimates, it will not provide a financial return as was originally expected. The audit found no evidence to indicate why the former Government wished to expedite Walsh Bay, but it is aware that there was an election due. Many of the problems which have been encountered could have been avoided with more careful and more extensive consideration at the start, particularly in the light of Property Services Group's recommendations.

Parliamentary reference - Report number #58 - released 17 December 1998