Annual Report 2020-21

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

Note 14. Property, Plant and Equipment (continued)
§Note/Subtotal§




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

2020
Measurement basis                                   Cost     Fair Value   Fair Value        Cost        Fair Value     Fair Value       Fair Value            –

Opening Gross Balance                              39,706      151,708       84,166       13,903          571,183        180,313           92,447     1,133,426
Correction to Opening Balances                       (230)            –        4,479           –                 –             –                 –         4,249
Additions                                          24,248             –            –           –                 –             –                 –       24,248
Contributed Assets                                      –             –            –           –               666           397                36         1,099
Disposals                                               –             –      (2,316)       (630)           (4,102)         (615)             (608)       (8,271)
Write-offs                                          (271)             –            –           –                 –             –                 –         (271)
Revaluation Adjustments to Equity (ARS)                 –             –        (736)           –           21,945          4,162                 –       25,371
Work in Progress Transfers                       (26,290)             –        3,465         808           17,472          3,577               968             –
Transfers from/(to) Intangible Assets               (456)             –            –           –                 –             –                 –         (456)
Transfers to / from Other Asset Classes                 –           (2)        1,154          72                27             –           (1,251)             –
Total Gross Value                                36,707       151,706       90,212        14,153         607,191        187,834           91,592     1,179,395

Opening Accumulated Depreciation                        –            –       22,087        4,388          119,637          60,487          40,915      247,514
Correction to Opening Balances                          –            –         1,320           –                 –              –               –         1,320
Depreciation Expense                                    –            –         1,481       1,206             7,896          2,302           3,178        16,063
Depreciation on Write-offs                              –            –       (1,050)       (258)           (2,227)          (220)           (493)       (4,248)
Revaluation Adjustments to Equity (ARS)                 –            –         2,585           –             4,744       (17,673)               –      (10,344)
Transfers to / from Other Asset Classes                 –            –           315          18                 2              –           (335)             –
Total Accumulated Depreciation                         –             –      26,738         5,354         130,052         44,896           43,265       250,305

Consolidated Book Value as at 30 June            36,707      151,706       63,474         8,799         477,139        142,938           48,327       929,090
Other Information
Range of Estimated Useful Life (years)                                        0-100         1-50            0-120         10-100            2-120             –
*Asset additions comprise
Asset Renewals                                          –            –        1,245          796           12,217          1,640            2,181        18,079
Other Additions                                         –            –        1,233           47            1,131             37            3,756         6,204
Total Asset Additions                                  –             –       2,478           843          13,348          1,677            5,937        24,283




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