Asset Valuations of Council owned property

Description

Copeland Borough Council is seeking to appoint external valuers to undertake asset valuations of its property portfolio for the three financial accounting period ending 31st March 2021, 31st March 2022, and 31st March 2023. The valuations are required for capital accounting purposes and the preparation of the year end accounts for the periods 2020/21, 2021/22 and 2022/23. The commission is for a period of three years. This commission will cover: • The Council's operational and non-operational assets, there are currently around 170 in the portfolio, in order to rebase the accounts and reflect any value changes which have arisen since they were last valued. • The valuation of any new or altered asset where either physical or economic impairment has arisen, capital expenditure has been incurred, or part disposals have taken place. • Valuation apportionments for assets where disposals have arisen during the course of the relevant financial year. • For all operational properties a reconsideration of their remaining useful asset life, and an apportionment of value for each between land and buildings for the purposes of calculating depreciation, together with componentisation advice where applicable.