Guidance recently released by the Chartered Institute of Public Finance and Accountancy (CIPFA) provides practical support on asset management in local government.
Focused on the management of public sector property, buildings and infrastructure-related assets, A Guide to Local Authority and Public Sector Asset Management is a comprehensive response to the previous absence of resources on the applied principles of asset management.
While previous guides focused on specific areas of asset management, CIPFA’s new publication provides senior public sector managers with a guide to both strategic leadership and governance, as well as day-to-day practical matters.
The guidance also responds to the changing objectives of UK local authorities, including the need to maximise property assets in addressing locally declared climate emergencies.
Tim Reade, Head of Property Advisory Services at CIPFA said:
“An array of global, national and local issues have influenced and necessitated a change in councils’ priorities and strategies. This new publication is a holistic guide to performing daily functions as a manager of public sector assets in today’s dynamic environment.
“The sector can no longer view assets as mere static resources with diminishing means to effectively address current and pressing issues around the climate, housing and financial resilience.
“Strategies to manage both operational assets like schools, libraries and community centres as well as commercial portfolios delivering income must change to deliver better outcomes for their communities.”
Notes to editors:
A Guide to Local Authority and Public Sector Asset Management can be accessed here.
For further information please contact the CIPFA press office on 020 7543 5787 or email callahan.hager@cipfa.org.
About CIPFA
CIPFA, the Chartered Institute of Public Finance and Accountancy, is the professional body for people in public finance. CIPFA shows the way in public finance globally, standing up for sound public financial management and good governance around the world as the leading commentator on managing and accounting for public money.