Annual Report 2018-19

                                                                                                                                                                                                                                 Financial Statements 2019




          Noosa Shire Council

          Notes to the Financial Statements
          for the year ended 30 June 2019

          Note 12. Property, Plant and Equipment (continued)

                                                                                                                                                                                                                    Other
          30 June 2018                                                                                   Capital Work in
                                                                                                                             Land           Buildings
                                                                                                                                                            Plant and         Road and Bridge
                                                                                                                                                                                                Storm Water     Infrastructure         Total
                                                                                                           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                                                                        18,059              -                -         12,084                    -                -                -            30,143
          Opening Gross Balance - at Fair Value                                                                       -        130,649           79,645              -              575,715          169,262           87,188         1,042,459
          Opening Gross Balance as at 1 July 2017                                                                18,059        130,649           79,645         12,084              575,715          169,262           87,188         1,072,602
          Additions*                                                                                             26,981              -                -              -                    -                -                -            26,981
          Contributed Assets                                                                                          -          1,640            1,025              -                1,358              883                -             4,906
          Disposals                                                                               5,10                -              -                -           (263)                   -                -                -              (263)
          Write-offs                                                                              5,10                -              -             (121)             -                 (461)            (245)            (345)           (1,172)
          Revaluation Decrements to P&L                                                            8                  -              -                -              -              (20,822)               -                -           (20,822)
          Revaluation Adjustment to Other Comprehensive Income (Asset Revaluation Surplus)        19                  -          7,135                -              -                    -            7,606            4,382            19,123
          Work in Progress Transfers                                                                             (5,353)         2,322              303            858                  228              887              755                 -
          Internal Transfers to / from other Asset Classes                                                            -              -                -              -                  (83)               -               83                 -
          Total Gross Value of Property, Plant and Equipment - at Cost as at 30 June 2018                        39,687              -                -         12,679                    -                -                -            52,366
          Total Gross Value of Property, Plant and Equipment - at Fair Value as at 30 June 2018                       -        141,746           80,852              -              555,935          178,393           92,063         1,048,989
          Total Gross Value of Property, Plant and Equipment as at 30 June 2018                                  39,687        141,746           80,852         12,679              555,935          178,393           92,063         1,101,355
          Opening Accumulated Depreciation as at 1 July 2017                                                           -                -        19,252           2,471             104,969           53,751           33,301           213,744
          Depreciation Expense                                                                     8                   -                -         1,417           1,075               7,096            2,146            3,064            14,798
          Disposals                                                                               5,10                 -                -             -             (87)                  -                -                -               (87)
          Write-offs                                                                              5,10                 -                -           (24)              -                (239)            (130)            (202)             (595)
          Revaluation Decrements to P&L                                                            8                   -                -             -               -               2,614                -                -             2,614
          Revaluation Adjustment to Other Comprehensive Income (Asset Revaluation Surplus)        19                   -                -             -               -                   -            2,484            1,792             4,276
          Total Accumulated Depreciation of Property, Plant and Equipment as at 30 June 2018                           -                -        20,645           3,459             114,440           58,251           37,955           234,750
          Consolidated Book Value as at 30 June 2018                                                             39,687        141,746           60,207           9,220             441,495          120,142           54,108           866,605
          Other Information
          Range of Estimated Useful Life (in years)                                                                    -                -         3 - 120            1 - 50            3-120         17 - 100            2-120
          *Asset Additions Comprise
           Asset Renewals                                                                                              -             -            2,247             772               12,394           2,603               655            18,671
           Other Additions                                                                                             -         2,119            2,172             420                2,543             297               759             8,310
page xx




          Total Asset Additions                                                                                        -         2,119            4,419           1,192               14,937           2,900             1,414            26,981




                                                                                                                                                                                                                                                  page 72