Draft Asset Plan released for public comment

The City of Greater Bendigo is seeking community feedback on a Draft Asset Plan which aims to establish a framework for how assets will be managed now and into the future.

The Draft Asset Plan covers assets that the City owns and controls. These have a combined total value of nearly $2B and support 69 services the City provides to the community. 

The City is responsible for managing a diverse range of assets covering roads, bridges and culverts, an airport, buildings and community centres, drainage infrastructure, pathways, recreational and outdoor facilities, and aquatic centres.

City Director Corporate Performance Director Andrew Cooney said the Local Government Act required all Victorian Councils to develop an Asset Plan with an outlook of at least 10 years by June 2022.

“We know that our community values the assets we have.  The challenge we share with the community is to ensure that as our population grows, and needs change, we continue to make well informed investment decisions about where to prioritise funding and how to ensure our services remain affordable and sustainable. This Draft Asset Plan will provide important guidance for this,” Mr Cooney said.

“The Draft Asset Plan includes six strategic initiatives that are designed to help drive improvements and efficiencies in asset management over the life of the plan.”

Council asset investment must consider several factors:

  • Community’s current and future needs
  • Cost and financial sustainability
  • Legal and regulatory obligations
  • Social responsibilities and changes
  • Environmental impacts and responsibilities
  • Advances in technology
  • Risks and community safety

“The City’s long-term financial plan outlines that nearly $650M will be invested in maintaining, renewing, upgrading, and acquiring assets over the next ten years.

“Like many other Local Governments in Victoria, the City faces several challenges in managing a growing number of assets when there is less funding available from income streams.  There is a growing gap between the demand to renew existing assets and investing in new assets.

“Council aims to ensure that our assets deliver the required level of service to the community in the most effective way. This will require decisions on priorities over the next ten years.”

The Draft Asset Plan is available to view on the City’s engagement platform Let’s Talk and residents are encouraged to provide feedback by completing a brief survey. The survey closes on Tuesday April 26: https://letstalkgreaterbendigo.com.au/draft-asset-plan-2022-2032

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