Audit Reveals Major Asset Management Failures in Tenerife’s Largest Municipalities

Tenerife’s largest municipalities are struggling to manage public assets effectively, according to a new audit report presented to the Canary Islands Parliament this Thursday. The report, which reviewed the 2022 fiscal year for Santa Cruz de Tenerife, San Cristóbal de La Laguna, and Arona, found that these cities’ official records often fail to match the reality of their property holdings.

Pedro Pacheco, president of the Canary Islands Court of Auditors, noted that technical issues made a full audit difficult. The most significant problem is that much of the land and property owned by these cities is not formally registered in the Property Registry. This is a serious issue, as it leaves public assets vulnerable and makes it difficult for city councils to accurately value what they own.

While all three cities are transparent about publishing asset information on their websites, the report warns that posting data online is not the same as managing it well. There is a clear gap in how these municipalities handle their internal records and digital inventories. This inconsistency shows that, despite their efforts to be open, the cities lack the standardized tools needed to keep a tight grip on their assets.

In response, the Court of Auditors has urged the local governments to address these gaps. The report highlights that formalizing property titles and upgrading inventory systems are essential steps for these cities to meet the legal and transparency standards required by regional law.