Annual Report 2022-23

      Note 15. Property, Plant and Equipment (continued)

      (1) The following table presents all assets and liabilities that have been measured and recognised at fair
      values:

                                                                                           Fair value measurement using
                                                                                               Level 2     Level 3
                                                                                Date of    Significant  significant
                                                                                  latest   observable unobservable
      $ '000                                                                  valuation         inputs      inputs             Total

      2023
      Property, plant and equipment
      Land                                                                    30/06/2022      135,187        175,104         310,291
      Buildings                                                               30/06/2020            –         72,234          72,234
      Road and Bridge Network                                                 30/06/2023            –        538,316         538,316
      Storm Water                                                             30/06/2020            –        169,259         169,259
      Other infrastructure assets                                             30/06/2021            –         49,966          49,966
      Investment Property                                                     30/06/2023        4,000              –           4,000
      Total property, plant and equipment                                                    139,187      1,004,879       1,144,066

      2022
      Property, plant and equipment
      Land                                                                    30/06/2022      135,187        175,104         310,291
      Buildings                                                               30/06/2020            –         70,611          70,611




                                                                                                                                       Noosa Council Annual Report 2022 - 2023
      Road and Bridge Network                                                 31/03/2018            –        532,548         532,548
      Storm Water                                                             30/06/2020            –        158,343         158,343
      Other infrastructure assets                                             30/06/2021            –         50,864          50,864
      Investment Property                                                     30/06/2022        3,300              –           3,300
      Total property, plant and equipment                                                    138,487        987,470       1,125,957


      (2) Transfers between level 1 and level 2 fair value hierarchies

      During the year, there were no transfers between Level 1 and Level 2 Fair Value hierarchies for recurring fair value
      measurements.

      Council's policy for determining transfers between fair value hierarchies is at the end of the reporting period.




252                                                                                                                                    253