Annual Report 2015–2016

Revaluations of non-financial assets
All revaluations were conducted in accordance with the revaluation policy stated at Note 7.4.
On 31 March 2016, an independent valuer conducted the revaluations.
Contractual commitments for the acquisition of property, plant, equipment and intangible assets are
payable as follows:
2016 2015
$’000 $’000
Within 1 year 1,286 539
Between 1 to 5 years 1,212 429
Total property, plant, equipment and intangible assets commitments 2,498 968
NHMRC has commitments in place for the purchase of a video conferencing system and an enhanced reporting system (datamart).
Note 3.2B: Inventories
Inventories held for distribution 200 201
Total inventories 200 201
During 2015-16, $1,890 of inventory held for distribution was recognised as an expense. (2014-15: $78,894)
No items of inventory were recognised at fair value less cost to sell.
Accounting Policy
Inventory is comprised of the NHMRC health and medical research publications. All publications are free of charge and distributed upon request to the
general public, health professionals, scientific and educational organisations, special interest groups and the wider public. The inventory held for
distribution is valued at cost, adjusted for any loss of service potential.
PART 5 financial report
Note 3.2C: Other Non-Financial Assets
Prepayments 984 952
Total other non-financial assets 984 952
Other non-financial assets expected to be recovered
No more than 12 months 984 952
Total other non-financial assets 984 952
No indicators of impairment were found for other non-financial assets.
Annual Report of the National Health and Medical Research Council 2015–2016
141