NEWS ARTICLE

Key financial task for September

September is seen as a good time to review your council's asset register to ensure it is up to date and accurate. Assets should be recorded at acquisition cost, along with any subsequent significant enhancement expenditure (such as an extension on a building). Local councils do not take account of depreciation, so in general the value of your asset will not change. Be sure to update your asset register if you purchase anything after your September review - as it should be included in your asset box at the year end.

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