Annual Report 2017-18 | Monash Health

Notes to the Financial Statements
Monash Health Annual Report 2017/2018
(a) Gross carrying amount and accumulated depreciation (continued)
Consolidated
Consolidated
2018 2017
$'000
$'000
Assets Under Construction
Assets Under Construction at Cost 55,820 60,379
Software Under Construction at Cost 31,217 12,364
Total Assets Under Construction 87,037 72,743
Leased Assets Contracted under PPP Agreement
- Leased Buildings at Fair Value 154,011 154,011
Less Accumulated Depreciation (58,632) (52,136)
95,379 101,875
- Leasehold Improvements at Cost 1,448 1,448
Less Accumulated Depreciation (547) (511)
901 937
- Leased Motor Vehicles 6,583 5,799
Less Accumulated Depreciation (3,858) (2,248)
2,725 3,551
- Plant and Equipment at Fair Value 164 164
Less Accumulated Depreciation (164) (164)
- -
- Medical Equipment at Fair Value 6,495 6,555
Less Accumulated Depreciation (6,495) (6,555)
- -
- Computers and Communication Equipment at Fair Value 305 305
Less Accumulated Depreciation (305) (305)
- -
- Furniture and Fittings at Fair Value 12 12
Less Accumulated Depreciation (12) (12)
- -
Total Leased Assets 99,005 106,363
TOTAL PROPERTY, PLANT AND EQUIPMENT 1,490,954 1,443,956
(i) Casey Hospital commenced operation during the year of 30 June 2005. Construction and fit out of Casey Hospital was
funded as a Public Private Partnership under a Project Agreement between the State of Victoria and Progress Health Pty Ltd.
Monash Health is responsible for operating Casey Hospital and has recognised the leased asset and associated interest
bearing liabilities (Note 6.1). The State of Victoria is obligated to fund quarterly service payments due to the Project
Agreement for the life of that agreement, a period of up to 25 years.
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