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What does the term 'probity' refer to in the context of asset disposal?
What does the term 'probity' refer to in the context of asset disposal?
Probity refers to the high standards of honesty, integrity, and ethical behavior.
Public authorities are required to dispose of assets in a manner that maximizes revenue, regardless of ethical or environmental impacts.
Public authorities are required to dispose of assets in a manner that maximizes revenue, regardless of ethical or environmental impacts.
False
Which of the following is NOT included in the scope of this disposal guideline?
Which of the following is NOT included in the scope of this disposal guideline?
What is the primary purpose of determining the estimated gross and net market value of assets?
What is the primary purpose of determining the estimated gross and net market value of assets?
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Public authorities should always consider the potential environmental impacts of disposing of information technology devices.
Public authorities should always consider the potential environmental impacts of disposing of information technology devices.
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Which of the following is NOT a method outlined in the guideline for disposing of assets?
Which of the following is NOT a method outlined in the guideline for disposing of assets?
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What is the main purpose of a disposal plan?
What is the main purpose of a disposal plan?
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The disposal of assets directly to a government employee is generally discouraged.
The disposal of assets directly to a government employee is generally discouraged.
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What is the role of the Crown Solicitor's Office in the disposal process?
What is the role of the Crown Solicitor's Office in the disposal process?
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What are the key considerations when disposing of assets through destruction or recycling?
What are the key considerations when disposing of assets through destruction or recycling?
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Study Notes
Disposal Guideline Purpose
- Provides information and practical advice on asset disposal methods.
- Covers the disposal process for assets, including government businesses and real property.
- Excludes the sale of real property (land and buildings) and the sale or lease of government businesses.
- Disposal should be lawful, efficient, economical, and ethical.
Key Principles for Disposals
- Value for money: Prioritizes obtaining the best possible return for assets, considering social, economic, and environmental impacts.
- Probity, accountability, and transparency: Focuses on avoiding corruption by implementing effective internal controls and procedures. An up-to-date asset register is important.
- Fair and ethical competition: Promotes fair competition and avoids misleading or deceptive practices when selling assets.
- Capability: Involves personnel with appropriate skills and experience in the disposal process.
Disposal Process - Key Steps
- Step 1: Decision to Dispose: Provides reasons for disposal such as surplus to needs, unserviceability, obsolescence, and asset replacement.
- Step 2: Estimate Market Value: Requires the determination of the estimated gross and net market value of the assets. Professional valuation may be required for complex or high-value assets. Identifying residual liabilities is also crucial.
- Step 3: Select an Appropriate Disposal Method: Ensures the chosen method maximizes return. Considers stakeholder feedback, government policies, and fair and ethical competition. Important for IT devices to consider information security principles, privacy principles, and residual capital value.
- Step 4: Obtain Approval: A disposal plan outlining asset description, history, risks and mitigation, costs, market research, disposal strategy and value maximization should be prepared.
- Step 5: Undertake and Evaluate Disposal: A disposal contract may be needed based on complexity, risk, and value. Warranties are excluded and should be clarified in a disclaimer (example provided). Public authorities should consult with the Crown Solicitor's Office for legal advice. Faulty assets must be disclosed completely.
Records Management
- Requires compliance with records management policies during asset disposal.
- Information security must be considered in the disposal of recorded storage assets.
- Documentation of the evaluation against expected outcomes and the forecast value of assets is required.
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Description
This quiz provides an overview of asset disposal methods and key principles for effective disposals. It covers lawful, efficient, and ethical disposal processes while emphasizing transparency and fair competition. Understanding these guidelines is crucial for ensuring value for money in asset management.
