Capital & Projects 2023/2024

The Naracoorte Lucindale Council has, under its care and control, a vast range of assets and infrastructure, which require regular assessment, replacement and renewal if assets are to remain sustainable – and to meet community expectations.

The issue of new assets also needs to be addressed. As a community expands, or simply expects to have certain facilities and infrastructure available to use, Council’s asset base is expanded, and new assets are introduced. A simple example of this is the paving or concreting of a footpath that was previously rubble. This is classed as a new asset.

The table below shows Council expenditure on capital works during 2023/24, totalling $12.9 million The Capital Budget, along with the Capital Works Program can be viewed in Appendices C and D respectively.

Council’s capital program is partially funded from the cash raised to cover the annual depreciation expense.

The following capital income (grants, new loans, principal repayments and sale of assets) is anticipated to be received in 2023/2024:

Loan Borrowings

Council’s loan principal outstanding as at 30 June 2023 is $2,775,047.09 (30 June 2022: $919,652.92). All current loans are fixed term with fixed interest rates.

The following principal repayments are scheduled for 2023/24:

An internal loan repayment of $17,280 is also paid by the NRLE to Council.