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Asset Performance Reporting

Page published 25 Aug 2017

According to the Treasury’s Investment Statement 2014, understanding what the Crown owns and owes, and how it uses those assets and liabilities to provide services, enables improved performance, more informed views on whether past resource allocations remain appropriate, and better decisions to be made for the future.

Robust performance measures is vital to effective asset management. It allows an organisation to assess how well it is meeting its expectations and objectives, both at an organisational and asset level. It provides a method for comparing performance across entities, and a tool for identifying and assessing areas for improvement. This can lead to greater utilisation of Crown assets and helps ensure that assets meet needs more effectively. This in turn will allow governments to provide more services at lower cost.

"Further develop and utilise metrics for the measurement and monitoring of the performance of Crown assets in meeting government objectives" has been a key focus area for the Treasury since the release of the 2014 Investment Statement. The mandatory requirements in the guidance on this page supports this focus.

Mandatory: Cabinet Office Circular CO(15)5:

Expectations relating to reporting on investment performance by agencies

Paragraph 61: Agencies must report on relevant asset performance indicators in their Annual Reports.

Expectations relating to asset management

Paragraph 62: Agencies must capture and use in internal management and decision-making processes, relevant indicators of past and projected asset performance, such as asset utilisation, condition and fitness for purpose.

Guidance

2015/16 Timeline

Task Timeline
Treasury Report to Government Investment Ministers on progress 3rd July 2017
Asset Measures, Performance Results, and Targets to be sent to the Treasury 1 September 2017
Treasury Report to the Government Investment Ministers on findings Est. Late 2017
2017 Investing for New Zealand (IMAP annual report) published Est. Late 2017

Agencies already meeting the requirement

If an agency already meet all the requirements as set out in the Annual Report Guidance in their existing annual report, the agency should continue to do so. In addition, the agency should provide the Treasury with a soft copy of the information they intend to publish. The Treasury will compile the information across all agencies for a comprehensive picture of the investment-intensive agencies in the IMAP Annual Report 2015/16.

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