The VAGO Report on Asset Management and Maintenance by Councils was tabled today, 19th February 2014, in Parliament. Take a look at the report via this link
http://www.audit.vic.gov.au/reports_and_publications/latest_reports/2013-14/20140219-asset-management.aspx
Victorian councils manage around $73 billion of physical infrastructure assets and spend over $2 billion annually to maintain, renew or replace them. This audit found that council spending on renewing or replacing existing assets is not keeping pace with their rate of deterioration, resulting in cumulative renewal gaps that grow each year. There is a pressing need for council to carefully balance asset renewal spending against a sustainable level of service delivery.