Valuation of Land Improvement Assets for Financial Reporting Purposes

Xyst was engaged by Council to undertake a valuation of specified Land Improvement Assets. These standards were valued on the basis of Fair Value and being in accordance with Australian and International Accounting Standards. This valuation covered living assets only (soil and plants/turf) such as street gardens or grassed areas within sports parks. A useful life was then allocated to each asset based through benchmarking from other councils and a current average replacement cost was identified. Following the valuation, Xyst developed best practice recommendations and improvements for Council’s consideration based on anecdotal evidences and observations.

Project Benefit

Xyst undertook a valuation of specified Land Improvement Assets, held by Council for financial reporting purposes.
Client organisation
North Sydney Council
Asset Management