2009 Corporate total asset management plan
Darwin City Council
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Darwin City Council
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7 Corporate Asset Management Plan CCoorrppoorraattee AAsssseett MMaannaaggeemmeenntt PPllaann works funding shortfall of around $3.7 million in the next decade, and a possible $37 million deficit by 2027 when the Civic Centre and West Lane Carpark are expected to be at the end of their useful life by the late 2020s and will require major refurbishment works or replacement. While there is a funding shortfall indicated over the next decade for capital renewals, between 2009 and 2015, significant funds of around $32 million are also flagged for potential planned upgrades or replacements of Darwin City Councils three swimming pools. Decisions relating to these key assets will need to be made through a formal process to identify and prioritise all potential solutions, with consideration to Councils overall financial sustainability, social and environmental responsibilities and the appropriate cultural outcomes. Ten Year Projected Renewals and Planned Renewals Funding Gap (Roads, Buildings and Stormwater) $0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000 $18,000,000 $20,000,000 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Projected Renewals + Maintenance Planned Renewals + Maintenance Ave Projected Renewals + Maintenance Ave Planned Renewals + Maintenance 10 Year Average Shortfall in Renewal Expenditure = deficet $0.38m p.a. Copy Fig 13. Ten Year Projected and Planned Renewals Funding Gap
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