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 | | Modular guide to asset Management for elected members and officials | | | In April 2004 The County Surveyors Society (CSS), together with the Local Authority Technical Advisors Group (TAG) produced the framework detailed in this document to facilitate the meaningful exchange of knowledge and experience on the subject. | | | Asset valuation is the calculation of the current monetary value of an authority's assets. Asset management provides the framework for good highway management in the long-term to ensure that the asset base is preserved and replenished in a sustainable way without imposing undue financial burdens on future generations. Central to this is a robust, true and fair valuation procedure.
The purpose of this guidance document is to provide a common framework for the discussion, development and implementation of highway infrastructure asset valuation by Local Authorities in the UK.
The guidance document describes a generic procedure for calculating the asset value of highway infrastructure assets. Specific guidance is provided for:
- roads
- segregated footpaths and cycle routes
- structures
- highway lighting
- street furniture
- traffic management systems
- off-highway drainage and land (associated with the highway)
The generic procedure can also be applied to other highway infrastructure assets, not covered explicitly by the document.
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