Cost Impacts to Council

The estimated total cost of the project is in the vicinity of $5 million. JAC Comrie Pty Ltd was engaged by the City ofBurnsideto provide a Prudential Report concerning Council’s proposal for the Glenunga Reserve.

The Local Government Act, 1999 requires a Council to prepare and consider a prudential report before proceeding with projects of such value, therefore following this community consultation, Council will be presented with a final Prudential Review Report based on estimated costs in accordance with Council’s decision.

This prudential review has tested the reasonableness of the assumptions and analysis underpinning the proposal and found them to be appropriate. Council has the capacity to fund the project and can afford to do so even if adverse events happen in future.

The financial risk associated with the project is minor. It is manageable in the context of Council’s future projected financial position and performance. Council’s current and projected future financial position and performance indicates it could accommodate the proposal without impact on its financial sustainability or future revenue-raising and/or service level decisions.