❓ Mr. Krsticevic asks about standardising valuation methodologies for local government assets following an Auditor General's report. The Department is considering the issue and will consult before any changes.
AnsweredQoN 4902Legislative Assembly
QuestionView source ↗
I refer to the Auditor General’s reference in the Financial Audits of Local Government Entities report to a variety of valuation methodologies used for property, plant, equipment and infrastructure in the sector and ask: (a) Will
the department develop a standard valuation methodology
to be used across all local governments: (i) If
not, why not; and (ii) If
yes, what methodology will be used; (b) When
will the methodology be implemented as standard policy; and (c) Have
the local governments been informed of the methodology: (i) If
yes, when?
the department develop a standard valuation methodology
to be used across all local governments: (i) If
not, why not; and (ii) If
yes, what methodology will be used; (b) When
will the methodology be implemented as standard policy; and (c) Have
the local governments been informed of the methodology: (i) If
yes, when?
AnswerView source ↗
Answered
7 May 2019
Responded by
Minister for Local Government
Response time
11 days
(a-c) The Department has noted the findings of the Auditor General’s March 2019 report and is currently considering issues identified including valuation methodologies used for property, plant and equipment. Any changes to methodologies or the development of a standard valuation method will require consultation with local government authorities and the Office of the Auditor General.
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