PDP were engaged by Napier City Council (NCC) in FY2022/23, and again in FY2023/24, to undertake an independent revaluation of their three-waters infrastructure assets, valued at a total replacement cost of approximately $1.5 billion. Our work included:
- Systematic audit of the quality, completeness, and currency of NCC’s three waters infrastructure asset information;
- Revaluation and depreciation of the assets using the Optimised Depreciated Replacement Cost methodology in accordance with
- PBE IPSAS 17 and the New Zealand Infrastructure Asset Valuation and Depreciation Guidelines.
- Development and application of a cost-to-capacity curve valuation methodology to revalue specialised assets including pump stations and water treatment plants;
- Development and application of a methodology for condition-based remaining life adjustments;
- Bottom-up revaluation of the Awatoto Wastewater Treatment Plant; and,
- Support during the audit of NCC’s financial statements, including responding to queries from Audit New Zealand and providing a letter of reliance.
Key Contacts
Tony Urquhart
