§ SIR JOHN ROLLESTON (Leicester)
To ask the President of the Local Government Board whether the statements of assets of the councils of boroughs in England and Wales in the recent Return of indebtedness are based on book values or on valuation surveys; and, if on book values, whether they are on any general basis as regards writing off depreciation, and providing for obsolescence; and whether in any cases the assets are valued at the original cost of the various undertakings.
(Answered by Mr. Walter Long.)The town clerks who furnished the particulars from which the Return was compiled were requested to state how the estimated value of the corporate property was arrived at, and the methods adopted are in most cases fully set out in column 12 of the Return. These values appear to have been based on recent special valuation in a few cases only. In some cases depreciation and obsolescence were provided for, but there was no evidence of any general method on this point. In many instances the values given seem to be the original cost of the undertakings and works.