Provision of Asset Valuation Services

Tender description

Wyre Forest District Council wishes to appoint a Contractor for the provision of asset valuation services prepared in accordance with the Chartered Institute of Public Finance and Accountancy (CIPFA) Code of Practice on Local Authority Accounting in the UK (‘The Code’), International Financial Reporting Standards (IFRS) and RICS Red Book. The Council is proposing an initial 2 year contract with the option to extend for 2 years, commencing with the asset valuations required for the Financial Year 2016/17. Valuation of the Asset Classes on the attached Schedule (Appendix C) at 1st April each year in accordance with the relevant valuation basis as determined by the CIPFA Accounting Code of Practice, IFRS and the RICS Red Book having regard to the Council’s Accounts Close Down Timetable (subject to annual revision to take into account any changes, eg. earlier statutory closedown of the Accounts). The Council’s assets are valued on a 5-year Rolling Programme, although some assets may require valuing more frequently. The attached (Appendix C) is the current 5 Year Rolling Programme, giving an indication of the properties due to be valued, although it is subject to change at any point with the addition and disposal of assets. Most assets will require initial physical inspection, although a sampling approach may be utilised as appropriate, for example car parks valued on an income basis. The deadline for submissions is 2pm, Monday 10th October 2016. The Council is using the e-procurement portal known as the Due North Pro-Contract portal https://procontract.due-north.com to conduct this procurement exercise. To gain access to the Invitation to Tender document, please visit the above website. Tenderers will need to electronically submit an expression of interest and an electronic copy of the ITT will be sent as an attachment. If you have any problems or queries gaining access to the Pro-Contract portal please contact The Service desk on 01670 597136 who are available between the hours of 08:30 and 17:30 Monday to Friday (excluding UK Public Holidays).