Top Tips for Local Council Asset Management Compliance

Guest Breakthrough Communications blog by Civic.ly

The National Association of Local Councils (NALC) has recently released their updated Model Financial Regulations for 2024, and it's a game-changer!

This comprehensive update addresses many of the long-standing challenges councils have faced with financial governance, bringing clarity to areas that were previously grey zones and modernising procedures for today's digital world.

The new model regulations provide much-needed guidance on everything from electronic payments to committee delegation, helping councils of all sizes operate more efficiently while maintaining proper oversight. It's particularly strong on asset management requirements - which is why we've put together this practical guide to help you navigate the key compliance areas.

Whether your council adopts these model regulations wholesale or adapts them to your specific needs, the asset management principles remain consistent across the sector. So let's dive into the practical steps you need to take to keep your assets properly managed and your auditors happy!

📝 The Golden Rule: Maintain a Comprehensive Asset Register

Why it matters: Local councils are required to keep accurate records of all their assets for transparency and accountability.

Your action plan:

●      Create a comprehensive list of ALL council assets (yes, even that rusty bench!)

●      Include location, purchase date, cost, condition, and what it's used for

●      Update it whenever you buy, sell, or dispose of anything

●      Pro tip: Civic.ly automatically creates this register from your uploaded photos - no more spreadsheet headaches! 📸

🔍 The Annual Asset Verification

Why it matters: Regular physical checks ensure your records match reality and help identify maintenance needs early.

Your action plan:

●      At least once a year, physically verify that your assets exist and are in good condition

●      Look for damage, wear, or anything that's gone missing

●      Combine this with your health & safety inspections to maximise efficiency

●      Bonus points: Use this as an excuse for a team day out visiting all your sites! 🚶‍♀️

💰 Understanding Financial Thresholds

Why it matters: Most councils have spending limits that require different levels of approval to ensure proper governance.

Your action plan:

●      Check your council's financial regulations for approval thresholds

●      Higher value purchases typically need full council approval

●      Lower value items may have delegated authority

●      Always prepare proper business cases for significant purchases

●      Remember: It's better to ask permission than forgiveness with public money!

📦 Delivery and Quality Control

Why it matters: Proper checks at delivery protect against fraud and ensure you get what you paid for.

Your action plan:

●      Always obtain delivery documentation

●      Check everything matches what you ordered (right quantity, right quality)

●      Inspect for damage before signing off

●      Top tip: Take photos on delivery - they're worth a thousand arguments later! 📷

🏠 Secure Document Management

Why it matters: Property documents are irreplaceable and expensive to replace if lost.

Your action plan:

●      Store all property documents in secure, fireproof locations

●      Maintain digital copies in separate, secure locations

●      Create an index system for quick document retrieval

●      Modern solution: Digital storage with proper backup systems beats filing cabinets every time! ☁️

🛡️ Insurance Management

Why it matters: Proper insurance protects the council from financial loss and ensures compliance with legal requirements.

Your action plan:

●      Maintain detailed records of all insurance policies and coverage

●      Review coverage annually before renewals

●      Notify insurers promptly of any new assets or changes

●      Report any damage or potential claims immediately

●      Smart move: Regular insurance reviews can save money and prevent nasty surprises! 💡

📋 Documentation and Governance

Why it matters: Proper documentation ensures transparency and helps demonstrate value for money to residents and auditors.

Your action plan:

●      Document all significant asset decisions with clear business cases

●      Keep comprehensive records of purchases, disposals, and major repairs

●      Ensure proper approval processes are followed

●      Maintain audit trails for all transactions

●      Reality check: Good documentation today saves hours of panic during audits! 📊

🎯 Your Compliance Checklist

✅ Monthly: Update asset register with any new purchases or disposals ✅ Quarterly: Review upcoming insurance renewals and coverage ✅ Annually: Physical verification of all assets on your register ✅ Always: Follow your council's approval processes for spending ✅ Every delivery: Check goods and obtain delivery documentation ✅ When needed: Prepare written reports for significant decisions

🚀 The Civic.ly Advantage

Struggling with spreadsheets and paperwork? Civic.ly handles most of this automatically:

●      Auto-generated asset registers from your photos

●      GPS location mapping straight from your phone

●      Compliance reporting at the click of a button

●      Secure document storage with proper backup

●      Maintenance tracking to keep everything in tip-top condition

Because life's too short for manual asset registers! 😉

💡 Best Practice Tips

Start Simple: Don't try to digitise everything at once. Begin with your most valuable or critical assets and work your way through systematically.

Think Long-term: Good asset management isn't just about compliance - it helps you plan maintenance, budget for replacements, and make informed decisions about your community's infrastructure.

Get Everyone Involved: Asset management works best when it's part of everyone's routine, not just an annual chore for one person.

Use Technology Wisely: Modern tools can automate much of the tedious work, leaving you free to focus on strategic decisions and community service.

Remember: These principles exist to protect public money and ensure transparency. Following good asset management practices isn't just about compliance - it's about being a responsible custodian of community resources. And with the right approach and tools, it can actually make your job easier!

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