Draft Asset Plan and Financial 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.

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.

• 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.

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