Property Register Support

BULK DATA & ASSET REGISTER IMPACT: ENTITY OWNED PROPERTY

We can provide support to entities as part of their property sub-registers, such as completeness support on land and buildings as part of a GRAP compliant Asset Register (deeds information), GRAP classification support and valuation support.

COMPLETENESS OF PROPERTY

We can assist with the provision of bulk deeds office data in support of entities property sub-registers, specifically pertaining to the completeness of land and buildings as part of a GRAP compliant Asset Register. As set out under the bulk data and the data conversion support, we can provide data acquisition support as well as data conversion support only as well.

GRAP CLASSIFICATION OF PROPERTY (RECOGNITION)

For Entity owned properties and buildings, you need to consider the various GRAP Accounting elements as part of their classification. For example, herewith a high-level comparison of various assets classifications which can be applicable to municipal-owned properties:

Municipal Service Delivery to the property

• GRAP 9 & 23 Revenue from exchange & non-exchange transactions:
  • Rates & Taxes (Valuation Roll)
  • Electricity (Connection, Prepaid, Account)
  • Water (Connection, Usage)
  • Sewerage
  • Refuse Collection

Entity owned property

• GRAP 17 Property, plant & equipment: Land and Buildings (not held as an investment, but for service delivery, community assets, administration and operational resourcing, etc.)

Property held for Capital Appreciation

• GRAP 16 Investment property: Resources held for capital or operational gain / Investment assets

Assets with significance

• GRAP 103: Heritage assets (e.g. property held with a cultural, environmental, historical, natural, scientific, technological or artistic significance)

Leased Property

• GRAP 13 Lease: Agreements whereby a lesser conveys to a lessee, in return for a payment or series of payments, the right to use an asset for an agreed period of time, categorised into finance and operating leases (Rental stock or property/housing stock not held for capital gain)

Sale of property inventory

• GRAP 12 Inventories: Assets (e.g. land or buildings, strategic stockpiles such as water reserves) owned or acquired with the intention of selling or distributing in the ordinary course of business.

GRAP VALUATION OF PROPERTY (MEASUREMENT)

We can assist with specialised asset valuations and asset accounting support for initial and subsequent measurement. Our support includes condition assessment, useful live assessment, residual value determination, Current Replacement Cost (CRC) / Depreciated Replacement Cost (DRC) values, accounting support on fully depreciated assets, correction of error/change in estimate. We can also assist in the provision of market value determinations for GRAP valuations such as Investment properties and Heritage assets.