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
2003/04 2003/04
$ $
9,697,909 Park Development: at cost 10,619,235
0 Less: Accumulated Depreciation 0
9,697,909 10,619,235
5,616,228 Car Park Development: at cost 5,824,367
(1,633,030) Less: Accumulated Depreciation (1,727,180)
3,983,198 4,097,187
8,293,957 Other Infrastructure Assets: at cost 8,861,227
(2,006,485) Less: Accumulated Depreciation (2,241,573)
6,287,472 6,619,654
5,136,314 Plant and Mobile Equipment: at cost 5,424,792
(2,273,889) Less: Accumulated Depreciation (2,719,424)
2,862,425 2,705,368
4,207,104 Office Furniture and Equipment: at cost 4,326,250
(3,442,553) Less: Accumulated Depreciation (3,752,079)
764,551 574,171
551,173 Work in Progress – Parks Development 257,897
17,361 Work in Progress – Car Parks 59,764
2,666 Work in Progress – Rights of Way 0
152,351 Work in Progress – Roads 391,634
3,391,032 Work in Progress – Buildings 15,369
1,352 Work in Progress - Drainage 46,695
6,438 Work in Progress – Reserve Lighting 0
208 Work in Progress – Footpaths 9,641
4,122,581 Total Work in Progress 781,000
$112,973,139 Total Fixed Assets $115,286,785
As per the requirements of AAS36, a management valuation of the freehold Land and Buildings was undertaken on the 30 June
2004. The valuation of $85,642,829 was based on an assessment of the properties’ current market value.
TOWN OF VINCENT _ A NNUAL R EPORT 2004-2005
89