Annual Report 2020-21

Noosa Council
Notes to the Financial Statements
for the year ended 30 June 2021

Note 14. Property, Plant and Equipment
§Note/Subtotal§
§Subnote§




                                                                                                                                            Other
                                          Capital Work in                              Plant and Road and Bridge                   Infrastructure
$ '000                                          Progress        Land     Buildings    Equipment         Network     Storm Water           Assets         Total

2021
Measurement basis                                   Cost    Fair Value   Fair Value        Cost        Fair Value     Fair Value       Fair Value            –

Opening Gross Balance                              36,707     151,706       90,212       14,153          607,191        187,834           91,592     1,179,395
Correction to Opening Balances                          –           –             –           –                 –             –             1,375         1,375
Additions                                          20,839           –             –           –                 –             –                 –       20,839
Contributed Assets                                      –         353             –           –             1,221           117                39         1,730
Disposals                                               –           –       (1,008)       (451)           (5,576)         (537)           (1,136)       (8,708)
Write-offs                                          (977)           –             –           –                 –             –                 –         (977)
Revaluation Adjustments to Equity (ARS)                 –      23,059             –           –                 –             –           (5,213)       17,846
Work in Progress Transfers                       (30,461)         944         4,454         472           18,249          2,956             3,386             –
Transfers from/(to) Intangible Assets                 350           –             –           –                 –             –                 –           350
Transfers to / from Other Asset Classes                 –           –       (3,382)          43             8,012           570           (5,243)             –
Total Gross Value                                26,458      176,062       90,276        14,217         629,097        190,940           84,800     1,211,850

Opening Accumulated Depreciation                       –            –       26,738        5,354          130,052         44,896           43,265       250,305
Correction to Opening Balances                         –            –             –           –                 –              –              446           446
Depreciation Expense                                   –            –        1,902        1,182             8,805         2,145             2,944       16,978
Depreciation on Write-offs                             –            –        (540)        (236)           (2,894)           (86)            (600)       (4,356)
Revaluation Adjustments to Equity (ARS)                –            –             –           –                 –              –          (4,103)       (4,103)
Transfers to / from Other Asset Classes                –            –          (67)          18             4,235           214           (4,400)             –
Total Accumulated Depreciation                         –            –      28,033         6,318         140,198         47,169           37,552       259,270

Consolidated Book Value as at 30 June            26,458     176,062       62,243         7,899         488,899        143,771           47,248       952,580
Other Information
Range of Estimated Useful Life (years)                                       0-100         1-50            0-120         10-100            2-120             –
*Asset additions comprise
Asset Renewals                                         –            –        1,071          364           11,117            550              439        13,541
Other Additions                                        –          944        1,830           71            1,724             21            2,708         7,298
Total Asset Additions                                  –         944        2,901           435          12,841            571            3,147        20,839




continued on next page ...                                                                                                                          Page 23 of 61