2019-02-12 Attachment 1 to Item 3 - Stormwater Infrastructure Asset Management Plan

6. Financial Summary
       Financial Statements and Projections
Council’s Stormwater Infrastructure plays a vital role in managing stormwater run-off across the
shire. There is 223km of piped stormwater infrastructure and over 22,000 financial Stormwater
Infrastructure assets on Council’s register, considered in this Asset Management Plan (AMP). The
Stormwater Infrastructure assets have a current replacement value of $77m, which equates to
approximately 17% of Council’s financial assets.

The operational and maintenance expenses for Stormwater Infrastructure make up approximately
4% of the $90m annual budget. The capital works program fluctuates from year to year, however,
the current 2018/19 capital works program the capital investment of $635k for Stormwater
Infrastructure equates to 2% of the $29.5m capital works program.

The annual operating plan details the financial statements and projections associated with the
operational and maintenance expenses for the Stormwater Infrastructure on an annual basis. The
capital investments including renewals, upgrades and expansions are highlighted in the annual
capital works program which is reflected in the 10-year capital works program.


       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 Stormwater Infrastructure 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.

Figure 9 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 Stormwater Infrastructure in the
amount of $49m. further asset renewal and maintenance activities will need to be developed over
coming years that will influence this current forecast. To achieve good asset knowledge of all
Stormwater Infrastructure assets it is important to continue with the asset data reconciliation and
physical condition assessments to make well informed asset decisions.

The Stormwater Infrastructure assets have varying useful lives for the asset classes maintained by
Council. The Stormwater Infrastructure useful lives vary based on construction, material type and
have estimated lives between 20 – 100 years.




Asset Management Plan: Stormwater Infrastructure                                              Page 17