City of Stirling Parks and Open Space Asset Managment Plan

7.1.2 Projected expenditures for Long-Term Financial Plan Table 7.1.2 below shows the projected expenditures for the 10-year Long-Term Financial Plan, which include projected capital park natural asset and improvement expenditure. Expenditure projections are in real values.

Year

Operations total

Maintenance total

Capital renewal

Capital upgrade/new

Capital park natural asset and improvement

2018/19

$1,534

$4,732

$3,462

$1,618

$3,910

2019/20

$1,597

$4,859

$3,910

$2,595

$2,970

2020/21

$1,688

$5,031

$4,008

$2,501

$3,044

2021/22

$1,778

$5,205

$4,108

$2,564

$3,120

2022/23

$1,871

$5,383

$4,211

$2,628

$3,198

2023/24

$1,965

$5,566

$4,316

$2,693

$3,278

2024/25

$2,062

$5,753

$4,424

$2,761

$3,360

2025/26

$2,162

$5,944

$4,534

$2,830

$3,444

2026/27

$2,264

$6,140

$4,648

$2,901

$3,530

2027/28

$2,368

$6,342

$4,764

$2,973

$3,619

Table 7.1.2 Projected expenditures for Long-Term Financial Plan (in thousands)

7.2 Funding strategy Funding for assets is provided from the budget and Long-Term Financial Plan. The financial strategy of the entity determines how funding will be provided, whereas the asset management plan communicates how and when this will be spent, along with the service and risk consequences of differing options. 7.3 Valuation forecasts Asset values are forecast to increase as additional assets are added. Additional assets will generally add to the operations and maintenance needs in the longer term, as well as the need for future renewal. Additional assets will also add to future depreciation forecasts.

7.4 Key assumptions made in financial forecasts This section details the key assumptions made in presenting the information contained in this asset management plan. It is presented to enable readers to gain an understanding of the levels of confidence in the data behind the financial forecasts. Key assumptions made in this asset management plan are: • Inflation rates used are: • 2019/20: two per cent • 2020 onwards: 2.5 per cent • Upgraded and new assets increase operations and maintenance cost by two per cent • The rates used for cost of capital treatments are accurate • Budget allocations in the Long-Term Financial Plan will meet the PAMP

Parks Asset Management Plan 2018 – 2028 | 49