Annual Report 2019-20

         Noosa Shire Council

         Notes to the Financial Statements
         for the year ended 30 June 2020

         Note 14. Property, Plant and Equipment

                                                                                                                                                                  Road and                       Other
         30 June 2020                                                                                   Capital Work
                                                                                                                         Land           Buildings
                                                                                                                                                     Plant and
                                                                                                                                                                    Bridge     Storm Water   Infrastructure    Total
                                                                                                         in 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                                                                    39,706            -                 -      13,903            -             -              -          53,609
         Opening Gross Balance - at Fair Value                                                                   -      151,708            84,166           -      571,183       180,313         92,447       1,079,817
         Opening Gross Balance as at 1 July 2019                                                            39,706      151,708            84,166      13,903      571,183       180,313         92,447       1,133,426
         Correction to Opening Balances                                                                          -            -             4,479           -            -             -              -           4,479
         Additions *                                                                                        24,283            -                 -           -            -             -              -          24,283
         Contributed assets                                                                                      -            -                 -           -          666           397             36           1,099
         Disposals                                                                                               -            -            (2,316)       (630)      (4,102)         (615)          (608)         (8,271)
         Write-offs                                                                                           (271)           -                 -           -            -             -              -            (271)
         Revaluation Adjustment to Other Comprehensive Income (Asset Revaluation Surplus)        23              -            -              (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                                                   16           (456)           -                 -           -            -             -              -            (456)
         Internal Transfers to / from other Asset Classes                                                        -           (2)            1,154          72           27             -         (1,251)              -
         Total Gross Value of Property, Plant and Equipment - at Cost as at 30 June 2020                    36,972            -                 -      14,153            -             -              -          51,125
         Total Gross Value of Property, Plant and Equipment - at Fair Value as at 30 June 2020                   -      151,706            90,212           -      607,191       187,834         91,592       1,128,535
         Total Gross Value of Property, Plant and Equipment as at 30 June 2020                              36,972      151,706            90,212      14,153      607,191       187,834         91,592       1,179,660

         Opening Accumulated Depreciation as at 1 July 2019                                                        -                -      22,087        4,388     119,637         60,487        40,915        247,514
         Correction to Opening Balances                                                                            -                -       1,320            -           -              -             -          1,320
         Depreciation Provided in the Period                                                                       -                -       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 Adjustment to Other Comprehensive Income (Asset Revaluation Surplus)        23                -                -       2,585            -       4,744        (17,673)            -        (10,344)
         Adjustments and Other Rransfers                                                                           -                -         315           18           2              -          (335)             -
         Total Accumulated Depreciation of Property, Plant and Equipment                                           -                -      26,738        5,354     130,052         44,896        43,265        250,305

         Consolidated Book Value as at 30 June 2020                                                         36,972      151,706            63,474        8,799     477,139       142,938         48,327        929,355




                                                                                                                                                                                                                           Financial Statements 201
         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
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         Total Asset Additions                                                                                     -                -       2,478          843       13,348         1,677          5,937        24,283

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