Rate Capping Information Session and Workshop. Melbourne, 29 th May 2015 Steve Verity Jeff Roorda & Associates JRA
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1 Rate Capping Information Session and Workshop Melbourne, 29 th May 2015 Steve Verity Jeff Roorda & Associates JRA
2 JRA You can demonstrate that you are sustainable provided your: 1. Numbers are materially correct 2. Appetite for risk is understood; and 3. Community expectations are managed.
3 Victorian councils are responsible for community infrastructure worth $73 billion 1. Councils spend over $7.6 billion 2 per year to provide infrastructure and services. Annual Renewal Gap $225M 3 Source: 1 ABS, 2014, Cat: Victorian Local Government Finance Statistics, MAV, 2014, Victorian Local Government Snapshot 3 MAV, 2012, STEP program overview and results, JRA
4 Vic councils are reporting $1.5b (6%) of local roads are in a poor to very poor condition. This represents a $1.5b risk and investment opportunity for government. Of this: $1,200M is sealed roads $200M is unsealed roads $47M is concrete bridges $40M is timber bridges Source: ALGA, 2014, National State of the Assets Local Roads Report JRA
5 JRA Source: ALGA, National Local Roads Data System
6 A 1998 report to government warned that unless steps were taken to address councils asset renewal gaps, the budget councils require for renewal would more than double by These predictions have materialised despite this warning, and the renewal gap has almost doubled as a proportion of total asset value over the past 16 years. Source: 2014 Victorian Auditor General s Report Asset Management and Maintenance by Councils. JRA
7 JRA Source: ABS Cat.5512, [Accessed 20 March 2015]
8 JRA Source: ABS Cat.5512, [Accessed 20 March 2015]
9 JRA Source: ABS Cat.5512, [Accessed 20 March 2015]
10 Income is sufficiently meeting the cost of services. Growing cash reserves. Strong capacity to meet financial obligations. Assets ageing and not being replaced at the optimum time. Services declining. Increasing risk. Need more money!! JRA
11 Accountants Ensure Operating Surplus (net of capital revenues) is reflected in reports and communicated. Report on nationally agreed financial indicators. Engineers Ensure service levels and projections are realistic. Communicate position and expectations. Engineers and accountants work together to improve accuracy and reliability of: Depreciation Asset management plans Financial strategies and long term financial plans
12 For over 20 years, JRA s consistent advice to our clients has always been is that communicating big backlog figures is a risky tactic. Local Government thinks backlog is an advocacy issue give us more money for our backlog? Backlog is seen by State Government as a financial sustainability issue. You need Local Government Reform! State Governments usually respond with Local Government Reform (amalgamations, rate pegging, regulation, performance reporting), rarely with more money. JRA
13 Communicate the risk/revenue/service level consequences and trade offs to the political level across all 3 levels of Government. JRA and IPWEA have developed NAMSPLUS to do just that now successfully used by over 350 organisations in Australia and North America as systematic and consistent approach now aligned with ISO Use NAMS.PLUS Scenario Modelling Focus discussion on trade off options Communicate the options JRA
14 JRA
15 Get your numbers right! This means understanding and reporting effective: Service levels, Costs, Impacts, and Risk. Engaging the Community. JRA
16 JRA We have the tools. Improved asset registers. Greater focus on an evidence based approach. We can demonstrate financial sustainability is achievable. Effective community engagement. Promotes best practice financial and asset management principles. Alignment with state and national reporting frameworks.
17 JRA
18 Performance Costs Risks JRA
19 The Road and Bridge life cycle funding gap in NSW has decreased 38% from $718 million in 2005 to $447 million in JRA Source: IPWEA(NSW) Division Roads & Transport Directorate, Road Asset Benchmarking Project 2014, Road Management Report
20 JRA
21 JRA ~80% support a special rate variation above rate cap.
22 JRA
23 cations/ /blue_mountains_city_council?ot=lg_special_variation_application JRA
24 Align planning documentation. Effective community engagement. Ratepayers willingness and capacity to pay. Communicate future savings based on historical evidenced based information. JRA
25 JRA You can demonstrate that you are sustainable provided your: 1. Numbers are materially correct 2. Appetite for risk is understood; and 3. Community expectations are managed.
26 Steve Verity Jeff Roorda & Associates E sverity@jr.net.au M Rate Capping Information Session and Workshop Melbourne, 29 th May 2015 JRA
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