The department manages non-current assets with a gross book value of $1.2 billion (net value of $0.9 billion).The main asset classes represented are land and buildings; infrastructure, plant and equipment; and intangible assets (software).

During the 2008–09 financial year, the gross book value of assets increased by $115 million, which is primarily due to:

• continued delivery of the Systems for People program
• the completion of fitouts to new offices in Belconnen, ACT, and the regional office in Perth
• data network and voice over internet protocol (VOIP) phone system assets acquired under finance lease from Optus.

The department manages its assets through an annual capital plan reflecting government priorities and ongoing business requirements and ensuring compliance with the government’s financial management framework. The department monitors the management of this capital plan on a monthly basis.

The department undertakes an annual stocktake of assets which is used to update and verify the accuracy of asset records, as well as review the condition and ongoing utility of the assets held. This resulted in a write-off of the Working Holiday Maker System of $6.25 million. The review includes depreciation rates, useful lives and residual values. The outcomes of this process are considered by the Australian National Audit Office in forming an overall opinion on the financial statements of the department.

Assets are maintained through specific maintenance programs, including those leased under contract from our various service providers.

Additional information on the value, acquisition and disposal of assets can be found in the financial statements in this report.