Asset Details
All types of properties owned by or under the control of Local Self-Government Institutions (LSGIs) are generally referred to as “Assets.”
In simple terms, these are the properties and facilities owned by a Grama Panchayat or Municipality and maintained by it for the benefit of the general public. These can be broadly classified as follows:
1. Physical Assets
These are assets that can be seen and physically touched:
- Buildings: Office buildings, schools, hospitals (PHCs), Anganwadis, markets and community halls.
- Land: Government/public land under the possession of the Local Self-Government Institution, parks, playgrounds and cremation/burial grounds.
- Roads: Panchayat/Municipal roads, bridges and culverts.
- Machinery and Equipment: Vehicles such as waste collection vehicles, tractors, street lights, computers and other equipment.
2. Water Assets
- Public wells, ponds, tanks, irrigation canals and drinking water supply schemes.
3. Financial Assets
- Bank deposits, savings and investments/shares.
- Outstanding amounts receivable through taxes, fees and other dues.
4. Importance of Assets
- Revenue: Local Self-Government Institutions generate revenue by leasing markets, shopping complexes and other properties.
- Public Service: Roads, schools and other facilities provide essential infrastructure and services to the public.
- Record Keeping: Every Local Self-Government Institution is required to accurately record and maintain details of all its assets in an “Asset Register.” This helps ensure that public properties are properly protected and prevents them from being lost, encroached upon or otherwise misappropriated.
In short, the assets of a Local Self-Government Institution comprise all movable and immovable properties and facilities managed by the institution for improving the quality of life of the people in its area.
Assets of Malappattam Grama Panchayat
Details of the various assets owned and managed by Malappattam Grama Panchayat are provided below.
