Asset management

Non-financial assets, including property and facilities are managed according to the Department’s policies and procedures for the acquisition, issuing, disposal and loss of relevant property, and any relevant assets under construction. The Department also provided asset management services to the Department of Education and Training for 2017–18 fiscal financial year.

Non-financial assets are reported in the Financial Statements at their fair value. A formal valuation is performed, at most tri-annually, with the next valuation scheduled for the 2018–19 financial year.