Field

Purpose

Value By

Choose one of four methods by which to value filtered Assets:

•      Replacement Value sets; the value of the Asset to the current replacement cost, the accumulated capital works to 0 and the accumulated depreciation to 0.

•      Age sets; the value of the Asset to the current replacement cost and the accumulated capital works to 0. 

Accumulated depreciation will be calculated based on the age of the Asset and its remaining useful life.  The age of the Asset is determined by the difference in years between the Valuation Date and Date Created.

•      Condition sets; the value of the Asset to the current replacement cost and the accumulated capital works to 0. 

Accumulated depreciation will be calculated based on the condition of the Asset, where the condition is assumed to have been assessed on the Valuation Date.

•      Condition at Inspection Date (the preferred option) sets; the value of the Asset to the current replacement cost and the accumulated capital works to 0. 

Accumulated depreciation will be calculated based on the condition of the Asset, where the condition is assumed to have been assessed on the Inspection Date.

Limit adjustment in accumulated depreciation to the proportional adjustment in capital value

This option is to remove the possibility of large write-backs of Depreciation, which may occur when changing from Age to Condition based Valuation or, when there has been a significant re-adjustment of Condition.

It limits the adjustment to the Accumulated Depreciation to the same proportional adjustment in the Capital Value (e.g. If the Capital Value increases by 20%, then Depreciation adjustment would be limited to 20%) It only applies in the following situation:

1. Where the adustment to the Capital Value is an increase

2. Where the original Capital Value is not 0

3. Where the Asset is not written off

4. Where the Asset has no Capital Works

The background behind this is to ensure that Assets are not being over depreciated. This might be the case, if say an Asset had been depreciated in the past, by Age but there was a change in policy to depreciate by condition e.g an Asset that was 50% through its life but had been assessed, as say condition 2.

Depreciate from Children’s Age / Condition

Tick this to ensure that the specified Assets to be valued will use the assigned Child Asset’s ratings rather than their own.  This would only be used for Assets that have been specified as Value by Children.

Process Outstanding Depreciation prior to valuation

Tick this to process any outstanding Depreciation prior to running the Valuation then create a new Depreciation transaction.

Batch Valuation Description

The description of this specific Valuation calculation, to clearly identify it, should a Rollback be later required.

Valuation Date

The date on which the Valuations took place.

Valued By

Records who performed the valuation, defaulting to the current logged in User.

Valuation Filter

The filter name used for this Valuation, created with the Filter Task.