Draft Asset Plan and Financial Plan

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Consultation has concluded

Plans in final stages of development!

Council has updated the 10-year Asset Plan and Financial Plan and the draft documents have been displayed for community review. Now we're taking in the feedback and finalising the documents, ready for adoption in October.




Background

What is the 10-year Asset Plan?


Council is responsible for managing more than $1.3 billion worth of assets for our community.

An Asset Plan outlines the financial and technical elements for managing assets so we can make sure the community has access to what they need over the next 10 years.

Asset Plans form part of the required strategic plans that all councils must deliver under the Local Government Act.

Asset by Value

Our Asset Plan will contain six smaller plans, each covering a specific type of asset:

  • Roads
  • Buildings
  • Bridges
  • Drainage
  • Paths
  • Open space

Each of these plans will include information about predicted funding requirements, maintenance, renewal, acquisition/ purchase, expansion, upgrade, disposal and decommissioning for the specific class of infrastructure.


What is the Long-Term Financial Plan?


The Long-Term Financial Plan is different from the annual budget. It tells us how we will resource the community’s needs and aspirations over the next 10 years. By matching this plan with the Wellington 2030 Community Vision and the Asset Plan, Council can plan, manage, and communicate its future objectives in a financially sustainable way.


What is Wellington Shire Council’s financial position?


  • Council is in a good financial position despite the Victorian State Government's Rating Cap, which limits funding for councils.
  • Council is committed to a range of long-term strategic projects which will require a mixture of Council and co-funding over the next decade.
  • Large investment will also be needed for infrastructure maintenance and new capital works, such as the Aqua Energy redevelopment, upgrading community infrastructure facilities and the construction of drainage infrastructure required to support housing growth and new estates.

Income by Type

Expense by Type

Every $100 Spent

Every $100 spent by Wellington Shire Council is spilt up and spent proportionally on the below priorities.


Why is Council updating the 10-year Asset Plan and Financial Plan?


These two plans will help to;

  • Deliver the community aspirations within the Wellington 2030 Community Vision.
  • Meet the needs and expectations of the community
  • Working within the rate capping environment
  • Ensure that each generation contributes to the cost of maintaining assets.
  • Set targets for Council’s budget to ensure we maintain our financial sustainability.
  • Set appropriate levels of debt


What happens next?

We have completed Stage 2 consultation to gather the community's thoughts on the draft Asset Plan and draft Financial Plan. Feedback from the community will be presented to Councillors and any required changes will be made to these two documents before they are adopted by Council in October 2021. A summary of the feedback will be made available on this page when completed.


Plans in final stages of development!

Council has updated the 10-year Asset Plan and Financial Plan and the draft documents have been displayed for community review. Now we're taking in the feedback and finalising the documents, ready for adoption in October.




Background

What is the 10-year Asset Plan?


Council is responsible for managing more than $1.3 billion worth of assets for our community.

An Asset Plan outlines the financial and technical elements for managing assets so we can make sure the community has access to what they need over the next 10 years.

Asset Plans form part of the required strategic plans that all councils must deliver under the Local Government Act.

Asset by Value

Our Asset Plan will contain six smaller plans, each covering a specific type of asset:

  • Roads
  • Buildings
  • Bridges
  • Drainage
  • Paths
  • Open space

Each of these plans will include information about predicted funding requirements, maintenance, renewal, acquisition/ purchase, expansion, upgrade, disposal and decommissioning for the specific class of infrastructure.


What is the Long-Term Financial Plan?


The Long-Term Financial Plan is different from the annual budget. It tells us how we will resource the community’s needs and aspirations over the next 10 years. By matching this plan with the Wellington 2030 Community Vision and the Asset Plan, Council can plan, manage, and communicate its future objectives in a financially sustainable way.


What is Wellington Shire Council’s financial position?


  • Council is in a good financial position despite the Victorian State Government's Rating Cap, which limits funding for councils.
  • Council is committed to a range of long-term strategic projects which will require a mixture of Council and co-funding over the next decade.
  • Large investment will also be needed for infrastructure maintenance and new capital works, such as the Aqua Energy redevelopment, upgrading community infrastructure facilities and the construction of drainage infrastructure required to support housing growth and new estates.

Income by Type

Expense by Type

Every $100 Spent

Every $100 spent by Wellington Shire Council is spilt up and spent proportionally on the below priorities.


Why is Council updating the 10-year Asset Plan and Financial Plan?


These two plans will help to;

  • Deliver the community aspirations within the Wellington 2030 Community Vision.
  • Meet the needs and expectations of the community
  • Working within the rate capping environment
  • Ensure that each generation contributes to the cost of maintaining assets.
  • Set targets for Council’s budget to ensure we maintain our financial sustainability.
  • Set appropriate levels of debt


What happens next?

We have completed Stage 2 consultation to gather the community's thoughts on the draft Asset Plan and draft Financial Plan. Feedback from the community will be presented to Councillors and any required changes will be made to these two documents before they are adopted by Council in October 2021. A summary of the feedback will be made available on this page when completed.


  • CLOSED: This survey has concluded.

    Thank you for reviewing the draft Asset Plan 2021. The purpose of the Asset Plan is to demonstrate responsible management of Wellington Shire Council infrastructure assets, comply with the Victorian Local Government Act 2020 and model the funding required to maintain assets in their current condition.

    Please complete this brief survey to let us know if you think this draft document represents a positive way forward.

    The following questions will take approximately 5 minutes to complete, and responses will be presented to Councillors to determine if changes are needed to the draft Asset Plan before it is adopted in October 2021.

    Consultation has concluded
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  • CLOSED: This survey has concluded.

    Thank you for reviewing the draft Financial Plan 2021/22 to 2030/31.

    The Financial Plan provides a 10 year financially sustainable projection on how the actions of the Council Plan may be funded to achieve the Community Vision. The Financial Plan covers the period 2021-22 to 2030-31 and aims to maintain sound operational surpluses, increasing Councilā€™s renewal, upgrade, and new investment in community assets, and ensuring that the cash position is maintained at a level to meet cash flow requirements and be available for potential emergencies or opportunities.

    The Financial Plan demonstrates that Council has the policies and strategic direction in place to ensure its long-term financial obligations are met.

    Please complete this brief survey to let us know if you think this draft document represents a positive way forward.

    The following questions will take approximately 5 minutes to complete, and responses will be presented to Councillors to determine if changes are needed to the draft Financial Plan before it is adopted in October 2021.


    Consultation has concluded
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