Draft Asset Management Plan Summary

$69.88M = Total forecast over 10 years (what the asset management plan says we have)

$63.80M = Total Budget over 10 years (what the Long-Term Financial Plan says we have)

$0.59M = average annual shortfall (91% of required funds available)

Reasons for shortfall include:

• Funding identified for discretionary capital projects.
• Timing of renewals peaking in 2023 and 2026.
• Growth in maintenance & operations costs associated with donated assets, Council funded new assets (open space)
• Timing between development of this AMP and revision of the current Long-Term Financial Plan.

Stormwater

• 40.9km pipes 
• 1052 pits 
• Total = $48.4M

Footpaths

• 249km (Replacement value = $48.1M)

Roads (89km)

• Seal = $12.9M
• Pavement = $52.8M
• Kerbs (195km) = $48.5M
• Total = $114.7M

Buildings

• 67 No. = $26.3M

Open Space (parks and reserves)

• Playgrounds, structures, sports courts and park furniture = $9.1M

Total Replacement value = $246.6M

The key infrastructure assets of the City of Prospect's asset management plans include:

• Stormwater
• Footpaths
• Roads (seal, pavement and kerbs)
• Buildings
• Open Space (parks and reserves).

A shortfall of more than $600,000 per year in provisioning for renewal of roads, kerbs, footpaths, open spaces and buildings has been identified by these plans, which were modelled in mid-2021.  

Since then, Council has fully provisioned this identified asset management shortfall through its Long Term Financial Plan.  A further shortfall in stormwater renewal has also been identified, which is a challenge shared with many other Councils across Australia.  

Council recently received a generous grant from the Federal Government to support a significant increase in stormwater outflow capacity in the area around the Churchill Road and Regency Road intersection, but significant further expenditure will be required to meet this challenge and it is expected that further grant funding will be required from both the State and Federal Governments to support future works in this area, which have been estimated at around $25m-$30m in quantum.

All Councils have limited finances. As such asset management plans will manage existing assets and carefully consider when upgrades or new assets need to be created to meet new demands.
 

Council carefully plans how to provide and manage assets into the future considering how its area and the demands on it may change. The asset management plan consider factors such as:

• Growing population
• Increasing urbanisation (eg. higher density development)
• Legislative requirements (eg. stormwater and accessibility compliance)
• Climate change (eg. flood mitigation, urban cooling, lowering emissions, low footprint materials)
• Change in community needs and aspirations.

Asset management plans are a requirement of the Local Government Act, they:

• Identify the funding to maintain and upgrade assets into the future to an agreed level of service and considering changing demands.
• Outline principles by which decisions will be made to provide or manage assets in a way that balances community expectations, risk, and financial means.

Asset management plans are for a 10-year period and are linked to a Long-Term Financial Plan to ensure that the management of assets is financially sustainable.

Beyond the legislative requirement, in our growing city there is a clear need for a planned, systematic approach towards key infrastructure asset maintenance, upgrade and associated service delivery to ensure that we allocate limited resources to areas of greatest need. The aim is to consider community needs and appetites, in line with the available budget and Council’s long-term strategic priorities. 

An asset management plan (AMP) is a comprehensive document that outlines how Council will operate, maintain, renew and dispose of its existing assets together with providing for new assets to ensure that:

• Services delivered by assets are sustainably provided to the community
• Risks associated with service provision are minimised
• Lifecycle costs are contained.

The City of Prospect defines an asset as a physical resource owned or under the care, control and management of Council that contributes to the community's needs for access to major economic and social facilities.
 

All feedback will be collated and analysed by the project team, which will help finalise the documents. 

The final asset management plans will be submitted to Council in May 2023 for consideration of. Once the plans have been endorsed, they will be published on our website.

As a part of the finalisation of the documents, an extensive improvement program has been developed that will see resources focused between now and the next review of plans. This includes:

• Undertake a review of service levels for buildings together with a DDA audit
• Re-audit the road, kerb and footpath network with a view to develop detailed project level costs over a 5-year period based on Councils service levels
• Develop a land acquisition and disposal strategy
• Incorporate traffic control devices into this plan
• Update the asset management plans.

There are several ways in which you can provide feedback:

• Online survey
• Email submissions via administration@prospect.sa.gov.au
• Written submissions via:
  • Online (under the FAQ section of this page)
  • Post (PO Box 171 Prospect SA 5082)
  • In-person (Payinthi, City of Prospect Administration, 128 Prospect Road Prospect).

This consultation is about ensuring the community can provide feedback to help inform the finalisation of our asset management plans.

We understand that the only way we can effectively manage our assets is by partnering with the ultimate users of our infrastructure and services – our community.

We are committed to remaining attuned to community views, aiming to understand and act on local sentiment and deliver better, more sustainable outcomes, for generations to come.