Asset management
Assessment of effectiveness of assets management
We manage more than 9300 assets with a gross book value of $370 million. During the year, as a result of the Administrative Arrangement Order of 27 January 2006, all assets relating to Indigenous activities were transferred to the Families, Community Services, and Indigenous Affairs Portfolio.
Major asset categories are infrastructure, plant and equipment, land and buildings, and intangible assets (software). These assets are managed by line areas to meet their business needs. Under accrual budgeting and accounting requirements, capital purchases are made in line with our capital plans. Accrual-based monthly reports on the progress of purchases against capital plans and depreciation against the budget allow line managers to make informed asset acquisition and replacement decisions and ensure on-going capital budget management and accuracy of reporting.
All assets owned by us are subject to an annual stock-take, which is used to update and verify the accuracy of asset records. Assets are depreciated at rates applicable for each asset class, as verified by the Australian National Audit Office.
Assets are maintained through specified maintenance programmes, including contracted services.