6863 (2025). Francisco Hernandez to the Minister of Internal Affairs

6863 (2025). Francisco Hernandez to the Minister of Internal Affairs: 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 Brooke van Velden: The Department of Internal Affairs (the Department) is required to comply with the financial reporting requirements applicable to public benefit entities, as set out in the Public Finance Act 1989 and Treasury Instructions. As such, revaluations of three asset classes that are required to be revalued are carried out on a three-yearly cycle. Further, from the 2024/25 financial year, a yearly desktop valuation is now required for buildings owned by the Department to ensure insurance coverage is adequate and up to date. Since 27 November 2023, the following valuations have been carried out: • full valuation of non-departmental boating facilities in 2023/24 [Lake Taupō harbourmaster]; • desktop valuations of non-departmental heritage collections in 2023/24; • desktop valuations of departmental and non-departmental land and buildings in 2023/24; and • full valuation of departmental and non-departmental buildings—dated February 2025 for insurance purposes. Apart from the above valuations, no other asset valuations have been completed by, or on behalf of, the Department.