Minutes:
The Committee received a presentation from the Assistant Finance Manager, Corporate Finance relating to the County Council’s Assets (for copy of slides see file of Minutes).
The Assistant Finance Manager, Corporate Finance informed Members that significant improvements had been made since LGR and that there was now a Single Asset Register. He further explained the aims and objectives and highlighted the long term assets:-
· Property, Plant and Equipment
· Heritage Assets
· Investment Property
· Intangible Assets
· Long Term Investments
· Long Term Debtors
Focusing on Property, Plant and Equipment he went on to break this area down and gave a description of the following sections:-
· Council Dwellings
· Land and Buildings
· Vehicles, Plant, Furniture and Equipment
· Infrastructure Assets
· Community Assets
· Surplus Assets
· Assets under Construction
Members were advised that they could request further details about any asset.
Councillor Carr asked if the Council lease of lot of plant vehicles and was informed by the Corporate Director, Resources that a review of fleet had been undertaken and found that it was better value to lease.
Catherine Banks, Mazars said that it was helpful from an external audit point of view to have a single register.
On answering a question from Councillor Carr regarding the depreciation of contaminated land, the Assistant Finance Manager, Corporate Finance explained that this area was being explored with colleagues in Neighbourhood Services. It was recognised as a contingency liability and any significant findings would affect the value of a site. Work was ongoing with colleagues in the Assets team and any detailed findings could be reported back to the Committee.
The Chairman thanked the Assistant Finance Manager for his informative presentation.