Figure B1
Victorian councils' population and GRP growth

We have consulted with DELWP, DEDJTR, Bass Coast, Corangamite, Loddon, Melton and Southern Grampians, and we considered their views when reaching our audit conclusions. As required by section 16(3) of the Audit Act 1994, we gave a draft copy of this report to those agencies and asked for their submissions or comments. We also provided a copy of the report to the Department of Premier and Cabinet.

Responsibility for the accuracy, fairness and balance of those comments rests solely with the agency head.

Responses were received as follows:

The Act states that the primary objective of a council is to endeavour to achieve the best long-term outcomes for the local community, including by:

Local governments play a key role in facilitating economic development by attracting businesses and residents to municipalities. They aim to achieve this through strategic long-term actions and plans.

This part of the report focuses on whether the audited councils are creating the conditions for local economic development. We examine whether councils are strategically planning for local economic development and working collectively with strategic partners.

Economic prosperity is important to a community's wellbeing. The World Bank describes local economic development as building the economic capacity of a locality to improve its economic future and the quality of life of its citizens. In this process, public, business and community sector partners work collectively to create better conditions for economic growth and job creation.

Every community has unique conditions that affect its development and should shape the design and implementation of a local economic development strategy.

Victoria is home to a quarter of Australia's population and contributes around 22 per cent to the country's economy. Economic prosperity is important on both a national and local scale, enabling communities to improve their quality of life.

A number of Victorian councils, particularly non-metropolitan councils, have experienced a decline in their economic growth over the past 10 years.

Figure G1 shows the measures and targets for each of the LRXP's benefits.

Figure G1
Benefits framework

Figure F1 shows the break-up of initial and additional works, for each package.

Figure F1
Contract structure

Figure E1 describes the quantifiable benefits and net present value (NPV), collectively referred to as the core cost–benefit analysis approach.

Figure E1
Benefits summary