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Noosa Council Annual Report 24/25
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§Subnote§
§Note/Subtotal§
Land
Land
2024
2025
$ '000
Buildings
Buildings
Storm Water
Storm Water
Fair Values:
measurements.
Investment Property
Investment Property
Noosa Council
Road and Bridge Network
Road and Bridge Network
continued on next page ...
Other Infrastructure Assets
Other Infrastructure Assets
Property, Plant and Equipment
Property, Plant and Equipment
for the year ended 30 June 2025
Total Property, Plant and Equipment
Total Property, Plant and Equipment
Notes to the Financial Statements
164
Note 15. Property, Plant and Equipment (continued)
(2) Transfers between Level 1 and Level 2 Fair Value Hierarchies
30/06/2024
30/06/2021
30/06/2024
30/06/2023
30/06/2020
30/06/2022
30/06/2025
30/06/2021
30/06/2024
30/06/2023
30/06/2025
30/06/2022
Valuation
Comprehensive
Date of latest
138,937
3,750
–
–
–
–
135,187
153,470
3,750
–
–
–
720
149,000
inputs
Significant
Level 2
992,758
–
54,133
148,533
538,265
75,073
176,754
1,083,076
–
66,182
152,070
587,273
83,102
194,449
inputs
observable unobservable
significant
Level 3
Fair value measurement using
Council's policy for determining transfers between fair value hierarchies is at the end of the reporting period.
During the year, there were no transfers between Level 1 and Level 2 Fair Value hierarchies for recurring fair value
(1) The following table presents all Assets and Liabilities that have been measured and recognised at
1,131,695
3,750
54,133
148,533
538,265
75,073
311,941
1,236,546
3,750
66,182
152,070
587,273
83,822
343,449
Total
Page 26 of 62
Noosa Council
Notes to the Financial Statements
for the year ended 30 June 2025
Note 15. Property, Plant and Equipment (continued)
§Note/Subtotal§
(3) Valuation techniques used to derive Level 2 and Level 3 Fair Values
Where Council is unable to derive fair valuations using quoted market prices of identical assets (ie. Level 1 inputs) Council instead utilises a spread of both observable inputs (Level 2
inputs) and unobservable inputs (Level 3 inputs).
The Fair Valuation techniques Council has employed while utilising Level 2 and Level 3 inputs are as follows:
§Total§
Index applied
Last (change in index Other interim
Valuation Comprehensive Key assumptions and estimates last applied to revaluation
Asset Class and Fair Value Hierarchy Approach Valuation Date Valuer engaged (related data sources) asset class) adjustment
Land (Level 2) Market Approach 30/06/2022 APV Valuers and Active and liquid market available for Indexation of Nil
2025: $149.0m Asset comparison when determining 9.39% applied in
2024: $135.2m Management replacement cost. FY25 equivalent
Land sales for similar properties are to 3 years since
165
analysed and compared taking into last
account area, location and other general comprehensive
site characteristics. valuation was
undertaken in
FY22. Indexation
rate adopted from
external valuer's
report prepared by
Australis Asset
Advisory Group
Land (Level 3) Current 30/06/2022 APV Valuers and No observable active market - (i.e land Indexation of Nil
2025: $194.4.m replacement cost Asset utilised for footpaths, access restriction 9.39% applied in
2024: $176.7m Management purposes or has a volumetric title). FY25 equivalent
Land sales are analysed and compared to 3 years since
taking into account area, location and last
other general site characteristics. comprehensive
The hypothetical development approach valuation was
is used for land which is specialised in undertaken in
nature and where no comparable land FY22. Indexation
sales are available. rate adopted from
external valuer's
report prepared by
Australis Asset
Advisory Group
continued on next page ... Page 27 of 62
Noosa Council Annual Report 24/25
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