Heritage Assets
June 2010
Jim Dieter, CPPM CF
Sunflower Systems
Director of Strategic Programs,
NPMA East Region Vice President
National Property Management Association
1
Topics
 What are Heritage Assets?
• Canada
• Australia
• USA
 US Examples
National Property Management Association
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What Are Heritage Assets?
Canada
 “The Auditor General of Canada defines cultural
heritage as the tangible evidence of human
experience, such as artifacts, archives, printed
material, cultural products, architectural heritage,
sacred sites, and archaeology.”
 “Movable heritage assets range from art and
archaeological artifacts to everyday objects,
including objects related to federal heritage
buildings.”
• Treasury Board of Canada Secretariat, www.tbssct.gc.ca
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What Are Heritage Assets?
Canada
 “To prevent organizations from accidentally
neglecting or disposing of the valued assets,
the Guide proposes good practices for
identifying and protecting these collections
as part of daily operations. Furthermore, the
Guide encourages accountability for the
management of these assets through public
reporting.”
• Treasury Board of Canada Secretariat, www.tbssct.gc.ca
National Property Management Association
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What Are Heritage Assets?
Australia (Victoria)
 “Cultural heritage assets include all places
and objects of aesthetic, cultural, historic,
scientific, social or spiritual value. This
includes places and objects of significance to
all Victorians from the first inhabitants to
recent arrivals.
• Heritage Victoria,
http://www.heritage.vic.gov.au/Home.aspx
National Property Management Association
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What Are Heritage Assets?
Australia (Victoria)
 “The management of heritage assets is a
Victorian Government responsibility, to be jointly
managed with other service delivery
responsibilities.
 The objective of managing a heritage asset is to
identify, protect, conserve and present its cultural
heritage significance for current and future
generations.”
• Heritage Victoria,
http://www.heritage.vic.gov.au/Home.aspx
National Property Management Association
What Are Heritage Assets?
Australia (Victoria)
 “It is recognised that the effective management of
heritage assets will achieve an appropriate
balance between the twin objectives of efficient
provision of government services and conserving
Victoria’s heritage for future generations.”
• Heritage Victoria,
http://www.heritage.vic.gov.au/Home.aspx
National Property Management Association
What Are Heritage Assets?
Australia (Victoria)
 “The actions necessary can be summarised as:
• Have a strategy
• Develop an inventory
• Get the appropriate expertise
• Apply management Principles
• Monitor performance.”
• Heritage Victoria,
http://www.heritage.vic.gov.au/Home.aspx
National Property Management Association
What Are Heritage Assets?
USA
 “Heritage assets are property, plant and
equipment (PP&E) that are unique for one or
more of the following reasons:
• historical or natural significance,
• cultural, educational, or artistic (e.g., aesthetic)
importance; or
• significant architectural characteristics.”
• Source: Federal Accounting Standards Advisory Board
(FASAB), SFFAS 29, Heritage Assets and Stewardship Land
National Property Management Association
What Are Heritage Assets?
USA
 “Heritage assets consist of
• (1) collection type heritage assets, such as objects
gathered and maintained for exhibition, for
example, museum collections, art collections, and
library collections; and
• (2) non-collection-type heritage assets, such as
parks, memorials, monuments, and buildings.”
• Source: Federal Accounting Standards Advisory Board
(FASAB), SFFAS 29, Heritage Assets and Stewardship Land
National Property Management Association
Statement of Federal Financial
Accounting Standards (SFFAS) 29
 SFFAS 29 requires that entities disclose
information about heritage assets and stewardship
land, but with no asset dollar amount
 Requirements include:
• Description of major categories
• Physical unit information for the end of the reporting
period
• Physical units added and withdrawn during the year
• Description of the methods of acquisition and
withdrawal, and condition information
National Property Management Association
Statement of Federal Financial
Accounting Standards 29
 SFFAS 29 also requires two disclosures for
heritage assets:
• Reporting disclosures about entity stewardship
policies
• Explanation of how heritage assets and
stewardship land relate to the mission of the entity
• Source: Federal Accounting Standards Advisory Board
(FASAB), SFFAS 29, Heritage Assets and Stewardship Land
National Property Management Association
Topics
 What are Heritage Assets?
• Canada
• Australia
• USA
 US Examples
National Property Management Association
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 “Whether you visit one of the
twelve official US Navy
Museums, take advantage of
public programs and
publications, or seek knowledge
through the artifacts,
documents, images and artwork
available at the NHHC, you will
find that this is where the
history, legacy and traditions of
the United States Navy come
alive.”
• Source: NHHC Website:
http://www.history.navy.mil/index.html
National Property Management Association
NOAA Heritage Assets
 “This rare coin was a prime
example of exploration of the
voyages that lead pirates to
the deep treasures buried in
the Florida Keys National
Marine Sanctuary 1733 coffin
patch shipwreck trails.”
• Source: NOAA;
http://www.pps.noaa.gov/Her
itage/92-15751.html
National Property Management Association
NASA Heritage Assets
 “The purpose of this website is to
provide a unique portal for
authorized recipients to view
NASA's Space Programs potential
artifacts and request desired
items.”
• Source: GSAXcess;
http://gsaxcess.gov/NASAWel.htm
National Property Management Association
Take Aways
 Heritage Assets are recognized as important
around the world
 As Asset/Property Managers, there are many
usual characteristics to managing Heritage
Assets, and some unusual aspects
 By definition, it is an interesting field, of
relevance to government entities and the general
public
National Property Management Association
Discussion Topics
 Have you had experiences with Heritage Assets?
 Does your organization have Heritage Assets?
• Who, if anyone, is responsible for managing
them?
 Is anyone familiar with other SFFAS Standards?
 Is managing Heritage Assets an opportunity for
Asset/Property Managers?
National Property Management Association
Thank you!
Jim Dieter
Sunflower Systems
National Property Management Association
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