The road was closed following the landslip, about 70m wide by 50m high, on October 13 last year, but one lane was reopened at end of last year.
Compiled by Central Otago District Council roading engineer Scott Graham, the report covers the funding of repairs and details the road's importance.
Four options for the road were put forward in the report, including a partial repair option which would cost about $300,000.
A full restoration option would need further investigation to determine costs, but they were expected to be ''considerable''.
At the opposite end of the scale, a ''do nothing'' option would leave the road in its present state, costing about $5000 a year for maintenance.
Closing the road to all traffic either side of the landslip would remove access to the southern and western side of Lake Dunstan, unless Contact Energy provided access across the Clyde dam.
A traffic count on the road in the week before last Christmas recorded an average of 133 vehicles a day on Fruitgrowers Rd.
The report said the road was used by fishing, boating, swimming and freedom camping enthusiasts,The report raises the possibility of Contact Energy paying for work, which would mean the council would have to hold discussions with Contact.
Another would require the council to meet the cost. If that option was chosen, it would have to apply for New Zealand Transport Agency funding.
There was no funding in the long term plan or the 2014-15 district roading plan for repair or ongoing maintenance of the road.
The report recommends the council discusses with Contact Energy the partial restoration option, with Contact funding the work.
Correspondence between council lawyers and Contact, dated December last year and attached to the report, shows that after the slip, the council wanted Contact to remove debris from the road and stabilise the slope above it.
It was suggested the two parties meet and work through the issues.
Contact told the council last December it was gathering advice on the matter and would respond this year.
It agreed the groups should work together to find a satisfactory outcome.
The council sought legal advice on its responsibilities and was advised because the slip face was not on road reserve, it was the responsibility of the landowner to remove debris from the road, stabilise the slope, and mitigate the risk of it recurring.
Parties affected by the slip include the Dunstan Arm Rowing Club, which has contacted the council to express its concerns about the condition and the safety of the road.
The report said Contact staff had indicated it did not believe the slip was a threat to the nearby Clyde dam or its operation.
To date the slip had cost the council $24,054, excluding staff time.
The council will consider the report on Wednesday.
