Annual Report 2015-16

Financial Statements 2016

 Noosa Shire Council

 Notes to the Financial Statements
 for the year ended 30 June 2016

 Note 12. Fair Value Measurements (continued)

 (1) The following table presents all assets and liabilities that have been measured and recognised at
    fair values:

                                                                        Measurement using:
                                                                          Level 2      Level 3           Total
                                                  Date                   Significant  Significant
                                                 of latest               observable unobservable
                                                 valuation                   inputs      inputs
 2016                                                                       $'000        $'000           $'000
 Property, Plant and Equipment
 - Land                                          30/06/14                 68,769       61,340         130,109
 - Buildings                                     30/06/15                       -      59,208          59,208
 - Road and Bridge Network                       30/06/14                       -     528,147        528,147
 - Storm Water                                   30/06/15                       -     114,774         114,774
- Other Infrastructure Assets                    30/06/16                       :      56,880          56,880
 Total Property, Plant and Equipment                                      68,769     820,349         889,118

 2015
 Property, Plant and Equipment
 - Land                                          30/06/14                 63,883       55,631         119,514
 - Buildings                                     30/06/18                       -      60,383          60,383
 - Road and Bridge Network                       30/06/14                       -    522,600         522,600
 - Storm Water                                   30/06/15                       -     112,374         112,374
 - Other Infrastructure Assets                   30/06/12             _         :      57,293,         57,293
 Total Property, Plant and Equipment                                      63,883     808,281         872,164

 (2) Transfers between Level 1 and Level 2 Fair Value Hierarchies

 During the year, there were no transfers between Level 2 and Level 3 Fair Value hierarchies for recurring fair
 value measurements.

 Council's policy for determining transfers between Fair Value hierarchies is at the end of the reporting period.

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