Pre-fixing local to government brings gamut of issues and challenges.  Therefore, it would be nice describe the context: 1) rural, 2) Urban or 3) semi-urban. Following this clarification, one could embark on government. Asset management is topic that is well discoursed: it could be holistic involving social,  physical, financial etc. A look at IFAD framework would help. 

Dear Syamsudin Zainy

Greetings,

Please find the attached file about you topic,

Best Regards

Dear All

Thanks for contribution. I was beginning in research to found some asset management measurement model that suite for my local government. It's true, there are some aspect involve around local government asset management. To know how optimized of local government asset management done, we need a tool to diagnose and measure them. I have found much more concept about asset management partially subject to a kind of asset. As a whole asset of local government owned and how to measure them, I did not found yet.

Si los activos, se traducen en bienestar podemos decir que están cumpliendo su Función Útil primaria.

En el caso de las empresas, no se adquiere ningún bien, a menos que este se vaya a traducir en más utilidades o mejor rentabilidad, en el caso del sector público la utilidad debería ser la satisfacción o el BIENESTAR  de los ciudadanos.

En este sentido, la austeridad, la maximización de la utilidad de los bienes es indispensable para minimizar costos sociales.

Check my publications. May they have some answers to you question.

you may consider the degree of its levels of service.

Important question would be,

What does best mean for you, in this specific context?

B.R.,

Ari