Annual Report 2017-18

                                                                                                                                                                                                                                        Financial Statements 2018




       Noosa Shire Council

       Notes to the Financial Statements
       for the year ended 30 June 2018

       Note 12. Property, Plant and Equipment (continued)

       30 June 2017                                                                                   Capital Work in                                        Plant and          Road and Bridge                       Other Infrastructure
                                                                                                                              Land           Buildings                                               Storm Water                                  Total
                                                                                                        Progress                                             Equipment             Network                                  Assets


                                                                                                           $'000              $'000            $'000           $'000                 $'000              $'000                $'000                 $'000
       Measurement Basis                                                                       Note        Cost             Fair Value       Fair Value        Cost               Fair Value         Fair Value           Fair Value
       Opening Gross Balance - at Cost                                                                          8,879                 -                -          10,308                     -                 -                     -                19,187
       Opening Gross Balance - at Fair Value                                                                        -           130,109           76,397               -              636,269            167,285                87,327            1,097,386
       Opening Gross Balance as at 1 July 2016                                                                  8,879           130,109           76,397          10,308              636,269            167,285                87,327            1,116,573
       Correction to Opening Balances                                                           27             (1,246)              540                 -               -              (65,328)                 -                     -              (66,034)
        Additions*                                                                                            19,319                   -                -               -                     -                 -                     -               19,319
        Contributed Assets                                                                                           -                 -                -               -                1,098             2,119                      -                 3,217
        Disposals                                                                              5,10                  -                 -                -           (341)                     -                 -                     -                  (341)
        Write-offs                                                                             5,10                  -                 -            (128)               -               (2,845)             (170)                 (101)                (3,244)
       Revaluation Adjustment to Other Comprehensive Income (Asset Revaluation Surplus)         18                   -                 -           3,114                -                     -                 -                     -                 3,114
       Work in Progress Transfers                                                                             (8,893)                 -              262           2,117                 5,923                29                   561                      -
       Internal Transfers to / from other Asset Classes                                                             -                 -                -               -                   599                 -                  (599)                     -
       Total Gross Value of Property, Plant and Equipment - at Cost as at 30 June 2017                        18,059                  -                -          12,084                     -                 -                     -                30,143
       Total Gross Value of Property, Plant and Equipment - at Fair Value as at 30 June 2017                        -           130,649           79,645               -              575,715            169,262                87,188            1,042,459
       Total Gross Value of Property, Plant and Equipment as at 30 June 2017                                  18,059            130,649           79,645          12,084              575,715            169,262                87,188            1,072,602
       Opening Accumulated Depreciation as at 1 July 2016                                                               -                -        17,189           1,638              106,929              51,682               30,447              207,885
       Correction to Opening Balances                                                           27                      -                -              -               -              (10,495)                  -                    -              (10,495)
        Depreciation Expense                                                                    8                       -                -         1,338             919                 9,985              2,104                3,032                17,378
        Disposals                                                                              5,10                     -                -              -             (86)                    -                  -                    -                  (86)
        Write-offs                                                                             5,10                     -                -            (14)              -               (1,587)                (35)                 (43)              (1,679)
       Revaluation Adjustment to Other Comprehensive Income (Asset Revaluation Surplus)         18                      -                -           739                -                     -                   -                    -                 739
       Internal Transfers to / from other Asset Classes                                                                 -                -              -               -                  136                   -                (136)                    -
       Total Accumulated Depreciation of Property, Plant and Equipment as at 30 June 2017                               -                -        19,252           2,471              104,969              53,751               33,301              213,744
       Consolidated Book Value as at 30 June 2017                                                             18,059            130,649            60,393             9,613            470,745            115,511               53,887               858,858
       Other Information
       Range of Estimated Useful Life (in years)                                                                        -                -         3 - 120             1 - 50                3-120        17 - 100                   2-120
       *Asset Additions Comprise
        Asset Renewals                                                                                                  -               -             881             2,261             10,490              1,174                   943               15,749
        Other Additions                                                                                                 -             202             812                14              1,726                 33                   759                3,546
       Total Asset Additions                                                                                            -             202           1,693             2,275             12,216              1,207                 1,702               19,295




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