Parks & Sporting Grounds Asset Management Plan 2022-2032

1.3 Asset Funding Levels

The Financial Summary in this PSGAMP recognises that Council has considered multiple strategic predictive modelling scenarios in the process of deriving its 10-year long-term financial budget, in line with the guiding principles of best practice asset management.

Presently, there are plans to spend approximately $78.69M over the following 10 years to upgrade Council’s open space assets and these have been documented in Council’s current 10-Year Works Program.

In addition to the upgrading of open space asset funding, the current levels of funding reflected in Council’s Long-Term Financial Plan (LTFP), relative to Council’s existing open space asset portfolio, have been determined as follows:

• Capital Renewal: $75.25M over 10-years; and