ABSTRACT
This chapter considers the nature of local authority assets within the context of overall management objectives. It presents a detailed analysis of research undertaken to examine the compilation of asset registers, the methods for the valuation of these assets, the appropriateness of such methods and the resulting explanations of value. Whilst the individual must accept some responsibilities for the ownership of private property, in the public sector such ownership and associated responsibility has much wider social implications. Whilst the provision of these services relies to some extent on the generation of revenue, there is no financial profit motive and, because of the nature of the asset and its use often there is no clearly definable market. A pilot study was undertaken with a small sample of local authorities to assess the extent of the exercise to produce asset registers within the stipulated timescale, whether the end result was considered beneficial and what effect the whole exercise had on resources.
