Draft Asset Plan 2022-23 - 2031-32
Published on 28 April 2022
Colac Otway Shire Council's Draft Asset Plan 2022—23 to 2031—32, which is required under the Local Government Act (2020) and must be adopted by all councils by 30 June 2022, covering a period of at least ten years, was endorsed on 27 April 2022. Public exhibition closed at 5pm on 3 June 2022, which ran concurrently with the Draft Budget.
“Council is responsible for a large asset portfolio that underpins our community’s health, liveability and economy. This draft Asset Plan, with a period of 10 years, is intended to be a strategic community-facing document that inform people about how Council manages these assets in the longer term, ,” said Chief Executive Officer, Anne Howard.
Council is responsible for managing more than $555m worth of assets for our community, which includes:
- 566km of sealed and 1058km of unsealed roads
- 249 bridges and major culverts
- 162 buildings
- 151.6km stormwater pipes and 5,041 stormwater pits
- 163.4km footpath and shared paths, as well as 33.8km rail trails
- 36 hectares of playing surfaces and 30 playgrounds
“Overall our assets are generally in good condition today and modelling indicates that we can maintain this in the next few years. As assets age over the next 20 years we face a growing number of assets that will need to be renewed, replaced or reconstructed. The draft Asset Plan recognises that the financial commitment to asset renewal needs in future years, but even this will not match the expected growth in asset renewal projects and this will mean Council and the community need to work together to address this.”
A recommendation is included in the Draft Asset Plan that investment in capital renewal rises from the current level to 110% of depreciation over the next ten years. This will require an annual increase in the order of 3.9%.
The draft Asset Plan has been developed based on the Draft Budget 2022—23 and both of these documents were available for the community to review and provide feedback to Council.
A Submissions Committee meeting will be held on Wednesday 15 June 2022 from 4pm at the Colac Performing Arts and Cultural Centre to provide the opportunity for any person wishing to speak to their written submission to be heard, or a nominated representative to speak to their submission on behalf of the person.
Adoption of the final Asset Plan will be discussed at a Council meeting scheduled on 29 June 2022 at 4pm.