A funding allocation for an "early learning facility" has been listed for 2024 in the council's first buildings asset management plan, a requirement under the new Local Government Act, which has now gone out for public comment.

The proposed facility is listed among $11.6 million worth of future projects on the council's "wish list" to cater for the growth of the city.

The council's infrastructure director Scott Cavanagh said the facility was one of two centres that were planned for the city in the future, but neither had yet been given the green light or funded.

Mr Cavanagh said one facility was earmarked for Dennington and the other at Brierly and the cost of each would be around the $10 million mark.

"Effectively what they are are community facilities which could consist of a combination of sporting rooms, community rooms, maternal and child health, immunisation rooms - a range of functions that suit that particular community," he said.

"Those functions will be decided at a later date if and when the project becomes funded."

The new plan values the city's buildings assets at $150 million and sets out what works would be needed in the next 15 years to maintain and upgrade them.

The plan values the city's holiday parks at $13.6 million, its municipal buildings at $12.96 million, tourist facilities at $11.3 million and its recreation assets at more than $65 million.

Over the next 15 years the upkeep on those buildings is expected to cost the council $44.9 million - an average of $3 million of year - with the biggest expenses set to come in 2032 and 2034.

In the next five years alone there are 116 projects across all council-owned buildings in need of upgrades with those costs expected to exceed $13.6 million.

Those works include small upgrades to community centres, community halls, holiday parks, tourist facilities, and some larger projects such as the new saleyards roof and the proposal to upgrade the council offices.

At this month's meeting, Cr Mike Neoh said it was amazing what assets the community owned, from gates to jetties to furniture and electrical wiring

He said if the community looked at the report they would feel fairly fortunate about the condition of most of our assets.

"Most of our assets are in good condition. I know we have a fairly high expectation on ourselves in this city to have high level assets and with those assets come a cost," Cr Neoh said.

"It's a good plan to smooth out and think about how we renew and maintain those assets over a period of time."

The council also adopted its Asset Management Strategy at this month's meeting - a document which covers all council's $830 million in assets - from buildings and roads to playgrounds and drainage.

Cr Sue Cassidy said asset management was one her biggest concerns and how the city would be able to afford to keep up with the growing problem.

Cr David Owen said the city needed to keep up with asset management before it "gets away from us". "If we don't have these plans in place we really don't know what we're dealing with," he said.

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