Annual Report 2023-24

      Noosa Council




                                                                                                                                                                       Financial Performance
      Notes to the Financial Statements
      for the year ended 30 June 2024

      Note 15. 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


      2024
      Measurement basis

      Opening Gross Balance                              62,702    310,291    110,887       16,085          684,061        230,027          102,309     1,516,362
      Additions                                          80,590          –           –           –                 –              –               –         80,590
      Contributed Assets                                      –          –           –           –               969            767              31          1,767
      Disposals                                               –          –     (1,389)       (700)           (4,142)          (737)           (666)        (7,634)
      Write-offs                                       (15,971)          –           –           –                 –              –               –       (15,971)
      Revaluation Adjustments to Equity                       –          –           –           –               328        (3,965)               –        (3,637)
      Work in Progress transfers                       (31,530)      1,650       6,020       1,986           12,495           1,954           7,425              –
      Transfers from/(to) Intangible Assets                 328          –           –           –                 –              –               –            328
      Transfers to / from Other Asset Classes                 –          –           –           –               606        (1,707)           1,101              –
      Total Gross Value                                96,119     311,941    115,518        17,371         694,317        226,339          110,200     1,571,805

      Opening Accumulated Depreciation                       –          –      38,653        7,812          145,745         60,768           52,343       305,321
      Depreciation expense                                   –          –       2,491        1,199           11,363          2,618            4,289        21,960
      Depreciation on Disposals                              –          –       (699)        (493)           (1,418)         (111)            (544)        (3,265)
      Revaluation Adjustments to Equity                      –          –           –            –                 –        14,872                 –       14,872
      Transfers to / from Other Asset Classes                –          –           –            –               362         (341)              (21)             –
      Total Accumulated Depreciation                         –          –      40,445        8,518         156,052         77,806           56,067       338,888

      Book Value as at 30 June                         96,119     311,941     75,073        8,853         538,265        148,533           54,133      1,232,917
226                                                                                                                                                                    227
      Other Information
      Range of estimated useful life (years)                                   0 - 100       1 - 50          0 - 120       10 - 100          2 - 120
      *Asset additions comprise
      Asset Renewals                                         –           –       1,239       1,534           59,071            695            4,457        66,996
      Other Additions                                        –       3,578       3,385         843            1,432              –            4,356        13,594
      Total Asset Additions                                  –      3,578       4,624        2,377          60,503            695            8,813        80,590




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                                                                                                                                                                       Noosa Council Annual Report 23/24