“How to compile your Asset Register” Paul Rowley Head of Information Services Asset Registers And Me

What do we think we do? What does the HCA think we do? What does the HCA think we should be doing?

Why? RPs must be compliant with new regulations by 31 st March 2016 It is worth you doing it You don’t currently have one Asset registers

What is an Asset Register? Asset Registers

What is an asset register? Include all land and property (freehold and leasehold) Legal and financial obligations on leases Inform asset management decisions (invest / change tenure / divest) Support reinvestment, regeneration and redevelopment appraisals Enable swift assessment of business (useful for due diligence for rescue, merger and obtaining credit ratings) Asset registers

What is an Asset Register? Who is the audience? Asset Registers

Who is the audience? HCA Potentially suitors, rescuers Funders Auditors You Asset registers

What is an Asset Register? Who is the audience? What is the content? Asset Registers

What is the content? Rent Property stuff Financing Ownership Additional local info NPV? Asset registers

What is an Asset Register? Who is the audience? Who keeps it up to date? What is the content? Asset Registers

Who keeps it up to date? Technical considerations How often? – quarterly seems reasonable Permissions Asset registers

What is an Asset Register? Who is the audience? Why should IT be involved? Who keeps it up to date? What is the content? Asset Registers

Why should IT be involved? Understand data disciplines Skills in data manipulation Knowledge of data held Custodians of data Conscientious people who care Asset registers

Obtain copies of titles (plans and registers) from the Land Registry based on your company name (and different versions of it) – this is a useful and the most obvious authoritative source for property ownership  Agree on what you own Identify gaps between your property database and titles – the Land Registry is not always right, but it starts the discussion

Remember to consider the oddball things you may own, not just homes – garages, sewage plants, allotments, duck ponds, etc.  Agree on what you own

Engage with your teams – don’t just rely on back-end data – there is plenty of knowledge in the heads of those who have worked in your companies for years – get hold of information that would affect the disposability of your assets ‚ Assemble knowledge

Identify columns needed in the asset register – for us, this was based on a number of early seminars and HCA consultation on regulatory framework Group the columns to make it more logical – remember, this is meant to be a quick and easy read (both for the business and the HCA if needed) For each column, you need to think about the most authoritative source of that data in your organisation  Include what you need

Remember, you do not need to replicate data in the asset register than exists elsewhere – you want one version of the truth and the asset register should point to where to find it  Include what you need

Create a protocol for updating the asset register – who can add data to it, amend data, etc. If you have an asset register that gets data automatically from your back-end systems, you need to ensure your back-end data is pristine and understand who can add properties, change rents, etc. „ Think about the future

Test the asset register – do a full gap analysis on it, find the blank spaces, the missing data, employ your internal auditors to do that sort of thing – if you have used assumptions in your asset register, test those assumptions „ Think about the future

Some easy answers You need to do one You need to do it as a whole organisation Each team brings skill and knowledge (including IT) You should all embrace it Asset registers

Thank you Paul Rowley, Head of Information Services