Sixteen Mile Sports Complex | Officially opened ... - Oakville

Notes to Consolidated Financial StatementsYear ended December 31, 2010(tabular columns in thousands of dollars)9. Tangible capital assets:Land Environ- Compimprove- Roads mental & tech Work inLand ments Buildings Equipment Vehicles network network services progress TotalAsset Cost 2010Balance, beginning of year $480,207 $216,254 $170,629 $24,353 $57,216 $515,053 $241,975 $14,527 $70,204 $1,790,418Add: additions during the year 14,978 6,456 43,639 2,702 2,312 13,253 3,023 2,044 119 88,526Less: disposals during the year (4,184) (704) (9,008) (1,512) (209) (2,236) (2) (633) - (18,488)Balance, end of year 491,001 222,006 205,260 25,543 59,319 526,070 244,996 15,938 70,323 1,860,456Accumulated amortizationBalance, beginning of year - 145,826 58,037 12,639 25,918 191,073 60,635 7,821 - 501,949Add: additions during the year - 8,324 3,808 2,272 4,602 12,725 3,509 1,842 - 37,082Less: disposals during the year - (566) (4,304) (1,450) (209) (2,054) (2) (632) - (9,217)Balance, end of year - 153,584 57,541 13,461 30,311 201,744 64,142 9,031 - 529,814Net book value, end of year $491,001 $68,422 $147,719 $12,082 $29,008 $324,326 $180,854 $6,907 $70,323 $1,330,642Asset Cost 2009Balance, beginning of year $475,075 $205,435 $170,123 $23,918 $52,802 $511,122 $240,930 $12,469 $25,685 $1,717,559Add: additions during the year 5,161 11,239 506 1,877 8,365 7,024 1,234 2,743 44,519 82,668Less: disposals during the year (29) (420) - (1,442) (3,951) (3,093) (189) (685) - (9,809)Balance, end of year 480,207 216,254 170,629 24,353 57,216 515,053 241,975 14,527 70,204 1,790,418Accumulated amortizationBalance, beginning of year - 138,107 54,260 11,802 25,579 181,238 57,351 6,839 - 475,176Add: additions during the year - 8,019 3,777 2,240 4,290 12,862 3,472 1,667 - 36,327Less: disposals during the year - (300) - (1,403) (3,951) (3,027) (188) (685) - (9,554)Balance, end of year - 145,826 58,037 12,639 25,918 191,073 60,635 7,821 - 501,949Net book value, end of year $480,207 $70,428 $112,592 $11,714 $31,298 $323,980 $181,340 $6,706 $70,204 $1,288,469(A) Assets under construction:Assets under construction having a value of $70,323 (2009 -$70,204) have not been amortized. Amortization of these assetswill commence when the asset is put into service.(B) Contributed tangible capital assets:Contributed capital assets have been recognized at fair marketvalue at the date of contribution. The value of contributedassets received during the year is $19,234 (2009 - $5,398)comprised of road networks in the amount of $1,481 (2009 -$281); environmental network - $2,775 (2009 - $114); and land- $14,978 (2009 - $5,003).(C) Tangible capital assets disclosed at nominal values:Where an estimate of fair value could not be made, the tangiblecapital asset was recognized at a nominal value. Land underroads, cemetery lands and buildings slated for demolition are theonly assets where nominal values were assigned.(D) Works of art and historical treasures:The Town manages and controls various works of art andnon-operational historical cultural assets including buildings,artifacts, paintings and sculptures located at Town sites andpublic display areas. These assets are not recorded as tangiblecapital assets and are not amortized(E) Write-down of tangible capital assets:The write-down of tangible capital assets during the year was$ nil (2009 - $ nil).Town of Oakville 2010 Annual Report | 36