Unused IT assets sale likened to ‘cash in the attic’ to be considered by Newham Council
• Unused IT addresses could raise considerable sums for Council services, cabinet to be told • Sale of addresses – allocated at no cost to council – would have no effect on services • Newham determined to leave no stone unturned in finding income and savings to bridge budget gap not of its own making
Unused IT assets likened to finding a ‘picture in the attic', could raise considerable sums for Newham Council if its Cabinet agrees they can go to auction at its next meeting on 5 November.
In his report, Cllr Zulfiqar Ali, Lead Member for Finance and Resources, highlights that Newham has 65,000 unused IPV4 addresses - the unique numbers that make it possible for devices and services to connect to the internet. If approved the Council will work with a specialised broker to ensure it achieves the best value for this asset, with this package of addresses having a currently estimated value of around £1.6 to £2 million.
The Council – which earlier this month outlined a package of immediate savings and income generations to deal with a budget overspend largely connected to a 26% increase of temporary accommodation in the borough – continues to investigate all measures it can take to manage its financial situation while mitigating the effect on the services to its residents.
