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2018-03-12 GC Agenda - Attachment 1 to Item 5 - Noosa Aquatic Centre Asset Management Plan
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Asset Management Plan
Noosa Aquatic Centre
FINANCIAL SUMMARY
Financial Statements and Projections
The Community Facilities Branch Plan details the financial statements and projections associated
with the total management of the NAC on an annual basis.
Funding Strategies
The immediate improvements to funding requests for maintenance and renewals in the budget
process are now evidence based and are supported from the condition assessments that have been
carried out.
The funding strategy, key assumptions, reliability and confidence levels are detailed in the Council’s
long-term financial plan. More detailed funding strategies that promote the long-term sustainability
of the NAC will be further developed and defined in future asset management plans.
Budget Forecasts
Budget forecasts will continue to be developed as information is captured and reported from the
Technology One (T1) financial system. Through the annual review of actuals, maintenance and
renewal activities against budget will initiate further development and identify trends that are
reportable and reflect future year forecasts.
The figure below identifies the current forecasts for the operational, maintenance and renewal
expenses to demonstrate the whole of life costs over a 10-year period for the NAC. In
summarising, the 10-year forecast has an overall expenditure increase from $800k to $1.4m from
year 1 to year 10. There are peak expenditures in years 4 and 7 because of significant asset
renewals planned.
Forecasted Expenditures
1,600,000
1,400,000
1,200,000
1,000,000
800,000
600,000
400,000
200,000
0
2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 2024/25 2025/26
Maintenance Renewals Operating + Revenue Total expenses (incl. Revenue)
Figure 7: NAC forecasted expenditures
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