Assets Disposed of Info
The main reason for the existence of the Asset Managment Unit is to create a structured process of decision making, planning and control over the acquisition, use, safeguarding and disposal of assets to maximise their service delivery potential and benefits and to minimise their related risks and costs over their entire life.
Whereas section 14 of the Local Government: Municipal Finance Management Act, 2003 (Act no. 56 of 2003) determines that a municipal council may not dispose of assets required to provide minimum services, and whereas the Municipal Asset Transfer Regulations (Government Gazette 31346 dated 22 August 2008) has been issued.
The Municipal Manager as custodian of municipal funds and assets is responsible for the implementation of the asset management policy which regulates the acquisition, safeguarding and maintenance of all assets. These assets must be protected over their useful life and may be used in the production or supply of goods and services or for administrative purposes. The Municipal Manager must ensure an effective Asset Management Committee that will give guidance regarding the execution of the asset management policies and procedures is in operation.
The Asset Management Policy deals with the following key elements:
- Asset recognition
- Recognition of assets initial measurement
- Subsequent measurement of assets
- The recognition of inventory items (non-capital items)
- Asset types
- Asset acquisition, asset maintenance, asset disposal, asset physical control and asset financial control
The Municipal Council of ZF Mgcawu District Municipality has adopted a policy to guide the Municipal Manager in the management of the municipality’s assets.
The Municipal Council adopted the Asset Management Policy on the 30th of May 2022:
Assets Disposed of during 2022/2023
- Quarter 1: 2022/2023- No Assets were disposed of for the period July- September 2022