Recreational Facilities Asset Data Collection, Validation and Revaluation

Xyst carried out a comprehensive field audit, condition assessment and fair value revaluation of Ku-ring-gai Council’s parks and recreation assets, which numbered well in excess of 13,000 assets.

The work included the collection and validation of asset data, reconciliation against existing records within Council’s Asset Management System, identification of missing or decommissioned assets, GPS data capture, photographic evidence collection and condition-based assessments of asset useful life.

In addition, the project delivered a fair value revaluation of recreational facility assets in accordance with AASB 13, AASB 116, and Local Government financial reporting requirements.

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Project Benefit

This project provided Ku-ring-gai Council with a comprehensive, validated and up-to-date inventory of its parks and recreation assets, improving the accuracy, consistency and completeness of asset data across the portfolio. This supported informed decision-making for maintenance, renewal and capital investment planning, while enhancing compliance with Australian Accounting Standards and Local Government financial reporting requirements. By aligning asset data, condition assessments and valuation information within Council’s asset management systems, Council is now better positioned to manage asset lifecycle risks, forecast future expenditure and undertake future revaluations with confidence.
Client organisation
Ku-ring-gai Council
Asset Management
Field data collection
Valuation
Condition Assessment