Asset Management as an Efficiency and Oversight Tool

One rational for more and better infrastructure asset management programs is outlined below from the April 8, 2014 issue of the Financial Times - Cities tackle a funding crunch:

"Matt Fabian, a managing director at Municipal Market Advisors, says municipalities in developed nations are moving to improve the efficiency of services and infrastructure already in place.  Cities have cut staff, while increasing oversight of how budgets are allocated and taxes are collected, minimizing misappropriation."