145 q Annual Report 2013-2014 HORSHAM RURAL CITY COUNCIL


NOTES TO THE FINANCIAL STATEMENTS (Cont.) FOR THE YEAR ENDED 30th JUNE, 2014


43 CAPITAL EXPENDITURE Land


Land Under Roads Roads Infrastructure Land Improvements Buildings


Other structures Plant and equipment


Furniture and equipment Works of Art


Works in Progress Total capital works


Represented by: Renewal of infrastructure Upgrade of infrastructure New infrastructure


Total capital works


Property, plant and equipment, infrastructure movement The movement between the previous year and the current year in property, plant and equipment, infrastructure as shown in the Balance Sheet links to the net of the following items:


Total capital works


Asset revaluation movement (less land held for resale Revaluation reserve) Depreciation/amortisation


Written down value of assets sold Transfer to Land held for sale Transfer from Land held for sale


Transfer from Investment Properties Held Net movement in property, plant and equipment, infrastructure


27(b) 13 9


11,705 8,475


(9,724) (1,625) -


138 430


18,661 8,013


(9,566) (4,911) (138) - -


------------------- -------------------- 9,399


12,059 =========== ============


(a) Asset Renewal Expenditure Expenditure on an existing asset or on replacing an existing asset, which returns the service potential or the life of the asset up to that which it had originally. Asset renewal expenditure reinstates existing assets, existing assets, it has no impact on revenue, but may reduce future operating and maintenance expenditure if completed at the optimum time.


(b) Asset Upgrade Expenditure Expenditure which enhances an existing asset to provide a higher level of service or that will increase the life of the asset beyond that which it had originally. Upgrade expenditure is discretional and often does not result in additional revenue unless direct user charges apply. It will increase operating and maintenance expenditure in the future because of the increase in the council's asset base.


(c) New Asset Expenditure Expenditure which creates a new asset that provides a new service that did not previously exist. New asset expenditure does not have any element of renewal, expansion or upgrade of existing assets. New capital expenditure may or may not result in additional revenue for council and will result in an additional burden for future operation, maintenance and capital renewal.


2014 $'000


6,287 59


461 186


1,285 41 71


3,208 2013 $'000


------------------- -------------------- 52 55


517 99


6,457 4,335 1,133 2,655 1,639 79 45


1,702


------------------- -------------------- 11,705


18,661


=========== ============ 7,100


2,111 2,494


10,839 3,904 3,918


------------------- -------------------- 11,705


18,661 =========== ============ Page 64


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