Planning & Investment Knowledge Base

Property Reports

 

Introduction

This section sets out the Transport Agency’s requirements for an annual property report.

 

Each year, Approved Organisations that have received funding assistance under work category 333: advance property purchase must provide the Transport Agency with a property report.

 

This section sets out the guidance on the information required by Transport Agency and the process to submit the report.

 

Submission of Annual Property Report

The annual property report must be prepared on the “Annual Property Purchase” form in the Transport Investment Online (TIO The NZTA's web-based funding allocation system. ) Achievement Returns section.

 

Key date

Approved Organisations must ensure that the Transport Agency receives this report no later than 31 August of each year.

 

Report elements

The report must specifically identify:

  • income from sales (of land, building and chattels)
  • the value of unsold properties transferred to the approved organisation during the year
  • income from rents and leases
  • income from interest
  • outgoings on maintenance and rates
  • purchases made during the year for projects approved by the Transport Agency
  • the net value of financially assisted land assets (not transferred to road reserve A legally described area within which facilities such as roads, footpaths That portion of the road reserve set aside for the use of pedestrians only. and associated features may be constructed and maintained for public travel. ) as at 30 June.

While this information is required to be aggregated for all properties, detailed

records as outlined on the next page are also required to be kept for each

individual property for audit purposes.

 

Detailed records to be kept

Records must be maintained by Approved Organisations of all land acquired for land transport purposes for which funding assistance has been received. These records will be subject to periodic audit by the Transport Agency. Valuation reports should be retained to support any valuation figures.

 

The following information must be maintained for each individual property:

 

Property details
  • address
  • legal description
  • date of purchase
  • purpose for the land purchase
  • date utilised for land transport purposes
  • date of sale of any surplus land
  • valuation at purchase date (land plus improvements to be shown separately)
  • valuation at time of utilisation for land transport purposes (land plus improvements to be shown separately)
  • valuation of any unsold surplus land 12 months after construction/ implementation is completed
  • a copy of the land title, reflecting the Transport Agency’s financial interest

 

Financial Details
  • funding assistance rate(s) at the time of land purchase
  • funding assistance claimed to date
  • income from rents and leases
  • expenditure relating to maintenance and rates
  • payments made to the Transport Agency to date

 

 

 

 

Last Updated: 02/07/2015 9:39am