6801 (2025). Francisco Hernandez to the Minister of Education

6801 (2025). Francisco Hernandez to the Minister of Education: What asset valuations, if any, have been completed for the Minister's departments, if any, since 27 November 2023, and on what dates, if any?

Hon Erica Stanford: I am advised by the Ministry of Education (the Ministry) that in compliance with accounting standards, the Ministry values its school property portfolio annually to ensure accurate financial reporting. The last valuation was on 30 June 2024. Land, houses, and early childhood education centres undergo a comprehensive revaluation every three years. The most recent comprehensive revaluation was completed for the 2022/23 financial year on 30 June 2023. In intervening years, an indexed valuation is used. The latest indexed valuation was completed on 30 June 2024. This valuation approach aligns with the Ministry’s financial reporting requirements and ensures compliance with accounting standards, while maintaining a consistent and reliable assessment of asset values. Rental valuations undertaken since 27 November 2023, for five offices leased by the Ministry, were completed on the following dates: 20 December 2023, 15 February 2024, 25 June 2024, 26 June 2024 and 12 December 2024.