Strategic Municipal Asset Management

Strategic municipal asset management is practiced by municipal governing bodies. Municipal governments have at their disposal a substantial amount of land and infrastructure. Municipalities own these properties and they are supposed to ensure the smooth and efficient management of these resources.
More About Strategic Municipal Asset Management
Strategic municipal asset management policies increase the performance rating of the local governing bodies. In a world moving towards increased decentralization, strategic municipal asset management has gained prime importance because everybody wants a good governance, increased empowerment and betterment of local communities.

The municipal bodies sometimes also face conflicting jurisdictions while dispensing their duties, but the aim is to prepare a plan for meeting all contingencies arising in the path of good governance.
Definition of Municipal Assets
Municipal assets include the following:
Financial assets: These include bonds, cash and stock
Intangible assets: It means goodwill
Organizational Issues Involved in Strategic Municipal Asset Management
The organizational issues involved in strategic municipal asset management are as follows:

A municipality can attain a comprehensive development of its constituency through the implementation of an effective strategic municipal asset management policy. For this they need support from the top brass of the organization. This includes the mayor, his deputy and members of the municipal council. A municipal department is then assigned with the task of building up the asset portfolio of the organization. This department co-ordinates with the other wings of the organization. In some municipalities, a public works department is entrusted with the task of preparing and executing the asset management plans. For this purpose, they have financial analysts, urban planners and law experts in their payroll. Besides the implementation of strategic municipal asset management strategies, a municipal government also needs to formulate plans to ensure voluntary participation of people in various development activities in general. To achieve this goal, municipal bodies need to be more transparent in their activities.
Problems of Implementing Strategic Municipal Asset Management
Stakeholders with varying degree of lobbying power are to be taken into account before opting for any change in the institutional design. Since the issue at stake involves control, as well as use and ownership of resources, conflicting interests and pressure groups are bound to arise. For proper implementation of strategic municipal asset management, all these need to be sorted out.
Conclusion
Strategic municipal asset management is an effective way for increasing the efficiency of municipal bodies. However, proper implementation of it requires a supporting structure. Administrative, political and legal wings of the government need to provide this essential backup.

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