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Social Assets

Purpose

Social assets are mainly managed by government departments and Crown entities.[17] They are held to support the delivery of core public services and to achieve government outcomes.

Government objectives change with time and it is important to regularly assess whether existing social assets are required or meet the needs that they are intended for. Due to their characteristics - predominantly relatively specialised property, plant and equipment - these assets may not be easy to divest where needed.

It is important to note that holding a social asset in itself does not guarantee that a public policy outcome is fully achieved as holding assets is not an end in itself - they are held to act as a platform to enable agencies to operate more effectively and to facilitate the advancement of public policy outcomes.

Notes

  • [17]The social portfolio includes a small number of liabilities, such as accounts payable, mainly as a result of government department or Crown entity business operations.
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