Territory Stories

2009 Corporate total asset management plan



2009 Corporate total asset management plan

Other title

Darwin City Council


City of Darwin reports; Reports; PublicationNT




Made available via the Publications (Legal Deposit) Act 2004 (NT).






Darwin(N.T.) -- Council -- Periodicals

Publisher name

Darwin City Council

Place of publication


Copyright owner

Check within Publication or with content Publisher.

Parent handle


Citation address


Page content

46 Corporate Asset Management Plan CCoorrppoorraattee AAsssseett MMaannaaggeemmeenntt PPllaann To balance the funding gap giving priority to renewals over upgrade/new projects should be given consideration and can be achieved by reducing planned upgrade/new expenditure and increasing planned renewal expenditure. Providing services in a sustainable manner will require matching of projected asset renewals to meet agreed service levels with planned capital works programs and available revenue. A gap between projected asset renewals, planned asset renewals and funding indicates that further work is required to manage required service levels and funding to eliminate any funding gap. Council will manage the gap by developing asset management plans for specific asset groups to provide guidance on future service levels and resources required to provide these services. To assist in managing this gap the Council has established a CBD Car Parking Fund which be used will be used to finance the construction of future multi-level parking facilities which will be required to accommodate parking demand to the year 2030. 6.5 Funding Strategy Projected expenditure identified in Section 6.1 is to be funded from Councils operating and capital budgets. To ensure sustainability detailed and refined funding strategies will be developed in accordance with Councils fiscal polices such a Ten Year Financial Plan and Darwins Strategic Directions Towards 2020 and Beyond. The funding strategy may include: Use of loans for major construction projects such as the construction of Off Street Carparks and Swimming Pool upgrades and to fund renewal spikes for existing infrastructure. Increasing revenue from rates and user charges. Grants and subsidies. Cost reductions from review of service levels.