Major works at Flagstaff Hill, the golf club, the breakwater, Lake Pertobe and a waste-to-energy project are some of the key items on the drawing board for the Warrnambool City Council.

The council was keen to point out that in developing the long-term future plans for the city, a number of assumptions had been made and some of which could change over time.

The 2024/25 and 2026/27 financial years are predicted to be big spending years for the council.

In 2024/25, the council is expecting to attract between $20 and $28 million which will fund the breakwater upgrade and works at the golf club.

The breakwater project will come with a $10 million price tag - about $8 million of that is expected to come from grant money. This has not ye been funded by any government.

The council has also made an assumption that the upgrades at the golf course would cost $20 million -$18 million of that coming from external funding.

The $4 million clubroom upgrade, announced by the club on Tuesday, makes up part of that funding.

The council says it would assist, if required, in facilitating grand funding opportunities for the golf club.

"Council sees this a key strategic project that will help to drive growth and tourism opportunities for Warrnambool," the draft budget said.

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In 2026/27, the council is expecting grant money worth $36 million to flow in.

Some of that money is expected to provide a new strategic direction for Flagstaff Hill Maritime Village, but the council says any new direction would require consultation with key stakeholders, including the state government which owns the site.

The council has also been considering a waste-to-energy project and further upgrades to Lake Pertobe.

"Again, there are assumptions behind these projects and in years to come the priorities of the council and community could see these change," the budget report said.

The council's debt is set to hit a peak of $16 million in that year with council to borrow $4.5 million for some of the projects.

"In that year the debt-to-rates ratio will rise to 32 per cent, still well below the 50 per cent ceiling set out in the borrowing strategy," the council said.

"The ratio will decrease from that point on to below historical levels by year 10."

The total capital works expenditure for that year will be more than $61 million.

Cr Richard Ziegeler said Warrnambool was a regional centre which provided services for neighbouring councils such as Moyne and Corangamite shires.

"The financial responsibility has largely fallen on Warrnambool," he said.

He said the long-term financial plan sought to work out how those operational costs and financial pressures could be shared. It also investigated the opportunities for new revenue growth.

Cr Debbie Arnott said the long-term financial plan considerered the viability of the city's infrastructure and the impacts on the community.

"This financial plan does provide a 10-year financially sustainable projection regarding how the actions of the council may be funded to achieve the community vision," she said.

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