2022-11-14 GC Agenda - Item 5 - Attachment 1 - Annual Report 2021-22

Noosa Council
Notes to the Financial Statements
for the year ended 30 June 2022

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


2022
Measurement basis                                   Cost    Fair Value   Fair Value        Cost        Fair Value     Fair Value       Fair Value            –

Opening Gross Balance                             26,458      176,062       90,276       14,217          629,097        190,940           84,800     1,211,850
Additions                                         36,315            –            –            –                –              –                –        36,315
Discovered Assets                                       –           2            –            –               93            129               16            240
Contributed Assets                                      –           –            –            –              166            519               14            699
Disposals                                               –       (635)        (346)        (930)            (940)          (349)            (215)        (3,415)
Write-offs                                        (1,229)           –            –            –                –              –                –        (1,229)
Revaluation Adjustments to Equity (ARS)                 –     134,773       14,102            –           63,892         19,495           10,743       243,005
Work in Progress Transfers                        (9,866)          89        1,060        1,787            3,647          1,824            1,459              –
Transfers from/(to) Intangible Assets                 157           –            –            –                –              –                –            157
Transfers to / from Other Asset Classes                 –           –            –        (597)              539              –               58              –
Total Gross Value                                51,835      310,291      105,092        14,477         696,494        212,558           96,875     1,487,622

Opening Accumulated Depreciation                       –            –       28,033        6,318          140,198         47,169           37,552       259,270
Correction to Opening Balances                         –            –            –            –                –              –                –              –
Depreciation Expense                                   –            –        1,936        1,193            9,132          2,174            3,419        17,854
Write-offs                                             –            –        (115)        (567)            (476)          (101)            (144)        (1,403)
Revaluation Adjustments to Equity (ARS)                –            –        4,626            –           15,040          4,973            5,085        29,724
Transfers to / from Other Asset Classes                –            –            –        (150)               51              –               99              –
Total Accumulated Depreciation                         –            –      34,480         6,794         163,945         54,215           46,011       305,445

Consolidated Book Value as at 30 June            51,835     310,291       70,612         7,683         532,549        158,343           50,864      1,182,177
Other Information
Range of Estimated Useful Life (years)                                      0 - 100       1 - 50          0 - 120       10 - 100          2 - 120            –
*Asset Additions comprise
Asset Renewals                                         –            –          554        1,666           14,797            947            3,663        21,627
Other Additions                                        –            –        3,380           20            5,807            350            5,131        14,688
Total Asset Additions                                  –            –       3,934         1,686          20,604          1,297            8,794        36,315




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