Land

Summary
Definition

Quantity
Value Land owned /or managed by CoW includes:
• Land purchased for new works such as road widening, reserve development or sporting facilities.
• Land as part of a property (building) purchased to provide municipal buildings and facilities.
• Land acquired from new subdivisions such as roads and reserves.
• Crown land managed by CoW through Committees of Management.
• Land purchased for investment.
611 parcels with a total area of 6266677.2 square metres (June 2002)
Market value of $130.7 million as at June 2002
Key Assumptions The key assumption in preparing this Asset Management Plan is that land does not degredate and therefore very few asset management principles apply to this asset class. The key reason for keeping a register of land is to identify what land council owns and it’s value.
Data Protocol
Key register

Data requirements for Asset Registry

Data maintenance protocol Currently, land is recorded as an asset in the Asset Module. It is defined as either Type 15 for land under roads/road reserves and Type 10 for all other land purchased or acquired. Land records in the Asset Module are not used for any other function within the Authority system or as data for Council.
The same parcel of land is also recorded in the Authority Property Module as a property record for Authority system use. Council owned land is identified by a Property Type code. The Property record can be linked to any asset which then passes the property address description to Work Orders as Location data.
The Asset Module was used for financial reporting up until land was revalued in 2002. At that time, the Property Module was used to determine a revised valuation as the data and functionality to determine land values is only available in that module. Although land continues to be recorded in the Asset Module, it no longer serves a purpose as the valuation data is out of date.
It is proposed that the Asset Module cease to be the record of Council owned land and that the Authority property module be used to provide valuation data for financial reporting1. See Item 1 in Suggested Plan Improvements
Valuations Unit creates the property record when land acquisition occurs or when land is gifted via the subdivision process.
Financial Provisions Funding for land acquisition is provided for on an “as needs” basis.

Funding Strategy NA
1. Agreement between Valuations Manager, Finance Manager, Financial Accountant and Asset Co-ordinator 26 August 2003.

Levels of service Levels of Service are defined by Parks and Gardens in relation to maintenance of sites.
Links to Strategies/ Plans There is some linkage to 2016 where future land acquisition for projects are identified.

Future Demand Land with public access is maintained by parks and Gardens to standards defined by the P&G maintenance contract.
Investment properties and vacant land without public use are maintained to normal private property standards
Maintenance NA
Practices & Policies NA
Suggested Plan improvements
Register for recording land value
Item
1. Cease to use Asset Module as the key register for land as an asset. Use Property module as Key register and calculate total valuation for financial reporting by data extract from the Property Module. Responsibility
Manager Valuations & Financial Accountant Compl Date
June 2004

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