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 (continued)
      §Note/Subtotal§




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

      2023
      Measurement basis                                   Cost    Fair Value   Fair Value        Cost        Fair Value      Fair Value       Fair Value

      Opening Gross Balance                              51,835     310,291      105,092       14,477          696,494         212,558           96,875     1,487,622
      Additions                                          44,478           –             –           –                  –              –               –        44,478
      Discovered Assets                                       –           –            23          53               187              10             132            405
      Contributed Assets                                      –           –             –           –                 26             19               –             45
      Disposals                                               –           –          (68)       (277)           (8,695)            (62)           (165)        (9,267)
      Write-offs                                        (3,341)           –             –           –                  –              –               –        (3,341)
      Revaluation Adjustments to Equity                       –           –        5,581            –          (29,921)         15,610            5,150        (3,580)
      Work in Progress transfers                       (30,270)           –          259        1,832            26,035          1,726              418              –
      Transfers from/(to) Intangible Assets                   –           –             –           –                  –              –               –              –
      Transfers to / from Other Asset Classes                 –           –             –           –               (65)           166            (101)              –
      Total Gross Value                                62,702      310,291      110,887        16,085         684,061         230,027          102,309     1,516,362

      Opening Accumulated Depreciation                       –            –       34,480        6,794          163,945          54,215           46,011      305,445
      Depreciation expense                                   –            –        2,257        1,212            10,209          2,410            3,802        19,890
      Depreciation on Disposals                              –            –          (30)       (194)           (3,221)            (21)           (106)       (3,572)
      Revaluation Adjustments to Equity                      –            –        1,946            –          (25,146)          4,124            2,634      (16,442)
      Transfers to / from Other Asset Classes                –            –             –           –               (42)             40               2             –
      Total Accumulated Depreciation                         –            –      38,653         7,812         145,745          60,768           52,343       305,321

228
      Book Value as at 30 June                         62,702     310,291       72,234         8,273         538,316         169,259           49,966      1,211,041       229
      Other Information
      Range of estimated useful life (years)                                      0 - 100       1 - 50          0 - 120        10 - 100          2 - 120
      *Asset additions comprise
      Asset Renewals                                         –            –          848        1,617           22,311             243            6,524        31,543
      Other Additions                                        –          131        5,052           19            5,468             145            2,120        12,935
      Total Asset Additions                                  –         131        5,900         1,636          27,779             388            8,644        44,478




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                                                                                                                                                                           Noosa Council Annual Report 23/24