Annual Report 2004-2005 - City of Vincent

NOTES TO AND FORMING PARTS OF THE FINANCIAL STATEMENTS
Notes to and forming parts of the Financial Statements
for the year ended 30 June 2005
4 (c) DEPRECIATION
Depreciation expense for the financial year was charged in respect of:
2003/04 2004/05
$ $
1,244,308 Buildings 1,624,857
2,566,827 Infrastructure Assets 2,674,075
620,838 Plant and Mobile Equipment 668,585
332,978 Office Furniture and Equipment 309,525
$4,764,951 $5,277,042
4 (d) DISPOSAL OF ASSETS BY CLASS YEAR ENDED 30 JUNE 2004
Budget Actual Budget Actual Budget Actual
Net Book Net Book Sale Sale Gain Gain
Value Value Price Price (Loss) (Loss)
$ $ $ $ $ $
Plant and Mobile Equipment 211,138 101,731 245,770 206,466 34,632 104,735
Office Furniture and Equipment - - - 454 - 454
Land and Building Assets - - 1,300,000 - 1,300,000 -
Other Infrastructure Assets
Total 211,138 101,731 1,545,770 206,920 1,334,632 105,189
5 CONDITIONS OVER CONTRIBUTIONS
Grants which were recognised as revenues during the year and which were obtained on the condition that they be expended on the
acquisition of non-current assets but have yet to be applied in that manner at reporting date were:
2003/04 2004/05
$ $
113,630 Roads to Recovery Grant 42,508
$113,630 $42,508
Grants which were recognised as revenues in a previous reporting period and were expended during the current reporting period in
the manner specified by the grantor were:
2003/04 2004/05
$ $
60,554 Roads to Recovery Grant 105,190
$60,554 $105,190
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TOWN OF VINCENT _ A NNUAL R EPORT 2004-2005