Parks & Sporting Grounds Asset Management Plan 2022-2032

The net strategy comparison outcomes of the financial options that have been modelled are detailed in Table 21 – Predictive Modelling Renewal Funding OptionsNet Strategy Comparison

6.3 Forecast 10-Year Capital Renewal Funding

Renewal funding at current levels detailed in the current LTFP (Option 1) will result in Council delivering current levels of service into the future when looking at the average network condition. The model also predicts that there will be a significant $12.5M decrease in assets considered to be in backlog (rated as condition state 5).

The funding strategy (Option 2) predicts that spending on average $7.5M each year over the following 10-years will also maintain existing average condition into the future and reduce the current asset backlog by $5M down to $8.96M.

Whilst the average condition is predicted to be like current levels (1.9 in 2032 compared to 1.8 in 2022), the predictive modelling predicts that the quantum of assets considered to be in backlog (i.e. in condition state 5 being very poor) will be higher when compared to Option 1.

The preferred renewal funding option for this PSGAMP is Option 1.

10 The current capital works list of project candidates is currently being reviewed and revised by Council officers. It is envisaged that once new condition data is collected in 2023/2024, that the strategic models will be re-run and calibrated.