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\pard\li100\sl240\slmult1\i\f1\fs22 Dividends\i0\par
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\pard\li100\ri202\sl228\slmult1\f1\fs22 Dividends\expndtw-8 \expndtw0 from\expndtw-7 \expndtw0 equity\expndtw-8 \expndtw0 investments,\expndtw-7 \expndtw0 other\expndtw-8 \expndtw0 than\expndtw-7 \expndtw-1 t\expndtw0 hose\expndtw-8 \expndtw0 acco\expndtw-1 u\expndtw0 nted\expndtw-7 \expndtw0 for\expndtw-8 \expndtw0 usi\expndtw-1 n\expndtw0 g\expndtw-7 \expndtw0 equity\expndtw-8 \expndtw0 accounting, are\expndtw-7 \expndtw0 classifi\expndtw-1 e\expndtw0 d\expndtw-6 \expndtw0 as\expndtw-6 \expndtw0 exchange\expndtw-6 \expndtw0 revenue\expndtw-6 \expndtw0 and\expndtw-6 \expndtw0 are\expndtw-7 \expndtw0 recognised\expndtw-6 \expndtw0 w\expndtw-1 h\expndtw0 en\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 Council\rquote s\expndtw-6 \expndtw0 right\expndtw-7 \expndtw0 to\expndtw-7 \expndtw0 receive payment\expndtw-10 \expndtw0 h\expndtw1 a\expndtw0 s\expndtw-10 \expndtw0 been\expndtw-9 \expndtw0 est\expndtw-1 a\expndtw0 blished.\par
\pard\sb15\sl-240\slmult0\f0\fs24\par
\pard\li100\sl240\slmult1\i\f1\fs22 Invest\expndtw-2 m\expndtw0 ent\expndtw-10 \expndtw0 property\expndtw-10 \expndtw0 le\expndtw-1 a\expndtw0 se\expndtw-10 \expndtw0 rentals\i0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li100\ri447\sl228\slmult1\f1\fs22 Lease\expndtw-7 \expndtw0 rentals\expndtw-6 \expndtw0 (net\expndtw-6 \expndtw0 of\expndtw-6 \expndtw0 any\expndtw-6 \expndtw0 incentives\expndtw-6 \expndtw-1 g\expndtw0 iven)\expndtw-6 \expndtw0 are\expndtw-6 \expndtw0 classified\expndtw-6 \expndtw-1 a\expndtw0 s\expndtw-7 \expndtw0 exchange\expndtw-6 \expndtw0 revenue\expndtw-6 \expndtw0 and recognised\expndtw-7 \expndtw0 on\expndtw-5 \expndtw0 a\expndtw-6 \expndtw0 straight\expndtw-6 \expndtw0 line\expndtw-6 \expndtw0 basis\expndtw-5 \expndtw-1 ov\expndtw0 er\expndtw-6 \expndtw0 the\expndtw-5 \expndtw0 term\expndtw-6 \expndtw0 of\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 lease\expndtw-7 \expndtw0 unless\expndtw-5 \expndtw0 ano\expndtw-1 t\expndtw0 her\expndtw-6 \expndtw0 systematic basis\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 more\expndtw-5 \expndtw0 represen\expndtw-1 t\expndtw0 ative\expndtw-6 \expndtw0 of\expndtw-5 \expndtw0 the\expndtw-6 \expndtw0 time\expndtw-5 \expndtw0 pattern\expndtw-6 \expndtw0 in\expndtw-6 \expndtw0 which\expndtw-5 \expndtw0 be\expndtw-1 n\expndtw0 efits\expndtw-6 \expndtw0 derived\expndtw-6 \expndtw0 from\expndtw-6 \expndtw0 the\expndtw-5 \expndtw0 leased asset\expndtw-9 \expndtw0 is\expndtw-9 \expndtw0 diminished\par
\pard\sb15\sl-240\slmult0\f0\fs24\par
\pard\s2\li100\sl240\slmult1\b\f1\fs22 Other\expndtw-15 \expndtw0 rev\expndtw1 e\expndtw0 nue\b0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li100\sl240\slmult1\i\f1\fs22 Donated,\expndtw-9 \expndtw0 subsidised\expndtw-9 \expndtw0 or\expndtw-11 \expndtw0 vested\expndtw-9 \expndtw0 ass\expndtw-1 e\expndtw0 ts\i0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li100\ri213\sl240\slmult1\f1\fs22 Where\expndtw-6 \expndtw0 a\expndtw-6 \expndtw0 physical\expndtw-6 \expndtw0 asset\expndtw-9 \expndtw0 is\expndtw-5 \expndtw0 acquired\expndtw-7 \expndtw-1 f\expndtw0 or\expndtw-6 \expndtw0 nil\expndtw-6 \expndtw0 or\expndtw-6 \expndtw0 nominal\expndtw-5 \expndtw0 consid\expndtw-1 e\expndtw0 ration,\expndtw-6 \expndtw0 with\expndtw-7 \expndtw0 no\expndtw-6 \expndtw0 conditio\expndtw-1 n\expndtw0 s attached,\expndtw-7 \expndtw0 t\expndtw-1 h\expndtw0 e\expndtw-6 \expndtw0 fair\expndtw-6 \expndtw0 value\expndtw-6 \expndtw0 of\expndtw-7 \expndtw0 the\expndtw-6 \expndtw0 asset\expndtw-7 \expndtw0 received\expndtw-6 \expndtw0 is\expndtw-6 \expndtw-2 r\expndtw0 ecognised\expndtw-7 \expndtw-1 a\expndtw0 s\expndtw-6 \expndtw0 non-exchange\expndtw-6 \expndtw0 revenue\expndtw-6 \expndtw0 when the\expndtw-5 \expndtw0 control\expndtw-5 \expndtw-1 o\expndtw0 f\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 asset\expndtw-6 \expndtw0 is\expndtw-5 \expndtw0 transferr\expndtw-1 e\expndtw0 d\expndtw-5 \expndtw0 to\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 Council.\par
\pard\li100\sb79\sl240\slmult1\i Gains\i0\par
\pard\sb17\sl-240\slmult0\f0\fs24\par
\pard\li100\ri662\sl-252\slmult0\f1\fs22 Gains\expndtw-7 \expndtw0 inclu\expndtw-1 d\expndtw0 e\expndtw-6 \expndtw0 additional\expndtw-8 \expndtw0 earnings\expndtw-6 \expndtw0 on\expndtw-8 \expndtw0 the\expndtw-6 \expndtw0 dispos\expndtw-1 a\expndtw0 l\expndtw-7 \expndtw0 of\expndtw-7 \expndtw0 property,\expndtw-6 \expndtw0 plant\expndtw-7 \expndtw0 and\expndtw-6 \expndtw-1 e\expndtw0 quipment\expndtw-7 \expndtw0 and mov\expndtw1 e\expndtw0 ments\expndtw-6 \expndtw0 in\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 fair\expndtw-6 \expndtw0 value\expndtw-6 \expndtw0 of\expndtw-6 \expndtw0 financial\expndtw-6 \expndtw0 asse\expndtw-1 t\expndtw0 s\expndtw-6 \expndtw0 a\expndtw-1 n\expndtw0 d\expndtw-6 \expndtw0 liabilities.\par
\pard\sb11\sl-240\slmult0\f0\fs24\par
\pard\s2\li100\sl240\slmult1\b\f1\fs22 Finance\expndtw-17 \expndtw0 revenue\b0\par
\pard\sb13\sl-240\slmult0\f0\fs24\par
\pard\li100\sl240\slmult1\i\f1\fs22 Interest\i0\par
\pard\sb11\sl-240\slmult0\f0\fs24\par
\pard\li100\ri796\sl240\slmult1\f1\fs22 Interest\expndtw-7 \expndtw0 revenue\expndtw-7 \expndtw0 is\expndtw-7 \expndtw0 exc\expndtw-1 h\expndtw0 ange\expndtw-7 \expndtw0 revenue\expndtw-7 \expndtw0 and\expndtw-7 \expndtw0 reco\expndtw-1 g\expndtw0 nised\expndtw-7 \expndtw0 usi\expndtw-1 n\expndtw0 g\expndtw-8 \expndtw0 the\expndtw-7 \expndtw0 effective\expndtw-7 \expndtw0 interest\expndtw-7 \expndtw0 rate method.\par
\pard\sb14\sl-240\slmult0\f0\fs24\par
\pard\s2\li100\sl240\slmult1\b\f1\fs22 Donated\expndtw-18 \expndtw0 services\b0\par
\pard\sb11\sl-240\slmult0\f0\fs24\par
\pard\li100\ri181\sl240\slmult1\f1\fs22 The\expndtw-6 \expndtw0 Council\expndtw-6 \expndtw0 benefits\expndtw-6 \expndtw0 fr\expndtw-1 o\expndtw0 m\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 volun\expndtw1 t\expndtw0 ary\expndtw-6 \expndtw0 service\expndtw-5 \expndtw0 of\expndtw-6 \expndtw0 many\expndtw-6 \expndtw0 We\expndtw1 l\expndtw0 lingtonians\expndtw-6 \expndtw0 in\expndtw-5 \expndtw0 the\expndtw-6 \expndtw0 delivery\expndtw-6 \expndtw0 of\expndtw-6 \expndtw0 its activities\expndtw-8 \expndtw0 a\expndtw-1 n\expndtw0 d\expndtw-7 \expndtw0 services\expndtw-7 \expndtw-2 (\expndtw0 eg\expndtw-7 \expndtw0 beach\expndtw-8 \expndtw0 cleaning\expndtw-7 \expndtw0 and\expndtw-8 \expndtw0 Otari-Wilton\rquote s\expndtw-7 \expndtw0 Bush\expndtw-7 \expndtw0 guiding\expndtw-7 \expndtw0 and\expndtw-8 \expndtw0 plan\expndtw-1 t\expndtw0 ing). Due\expndtw-6 \expndtw0 to\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 difficulty\expndtw-6 \expndtw0 in\expndtw-6 \expndtw0 d\expndtw-1 e\expndtw0 termining\expndtw-5 \expndtw0 the\expndtw-6 \expndtw0 precise\expndtw-6 \expndtw0 v\expndtw-1 a\expndtw0 lue\expndtw-6 \expndtw0 of\expndtw-6 \expndtw0 these\expndtw-6 \expndtw0 donated\expndtw-6 \expndtw0 se\expndtw-2 r\expndtw-1 v\expndtw0 ices\expndtw-6 \expndtw0 with\expndtw-6 \expndtw0 sufficient reliability,\expndtw-8 \expndtw0 d\expndtw-1 o\expndtw0 nated\expndtw-8 \expndtw0 services\expndtw-9 \expndtw0 are\expndtw-8 \expndtw0 not\expndtw-8 \expndtw-2 r\expndtw0 ecognised\expndtw-8 \expndtw-1 i\expndtw0 n\expndtw-8 \expndtw0 these\expndtw-8 \expndtw0 prospective\expndtw-8 \expndtw0 fin\expndtw-1 a\expndtw0 ncial\expndtw-8 \expndtw0 st\expndtw-1 a\expndtw0 tements.\par
\pard\sb17\sl-260\slmult0\f0\fs26\par
\pard\s1\li100\sl240\slmult1\b\f1\fs24 Expenses\b0\par
\pard\sb11\sl-240\slmult0\f0\par
\pard\li100\sl240\slmult1\f1\fs22 Specific\expndtw-8 \expndtw-1 a\expndtw0 ccounting\expndtw-7 \expndtw0 policies\expndtw-8 \expndtw0 for\expndtw-7 \expndtw0 major\expndtw-8 \expndtw0 categori\expndtw-1 e\expndtw0 s\expndtw-7 \expndtw0 of\expndtw-8 \expndtw0 expenditure\expndtw-7 \expndtw0 are\expndtw-7 \expndtw0 outlined\expndtw-8 \expndtw0 below:\par
\pard\sb15\sl-240\slmult0\f0\fs24\par
\pard\s2\li100\sl240\slmult1\b\f1\fs22 Operating\expndtw-20 \expndtw1 a\expndtw0 ctivities\b0\par
\pard\sb13\sl-240\slmult0\f0\fs24\par
\pard\li100\sl240\slmult1\i\f1\fs22 Grants\expndtw-12 \expndtw0 and\expndtw-12 \expndtw0 sponsorshi\expndtw-1 p\expndtw0 s\i0\par
\pard\sb11\sl-240\slmult0\f0\fs24\par
\pard\li100\ri125\sl240\slmult1\f1\fs22 Expenditure\expndtw-5 \expndtw0 is\expndtw-5 \expndtw0 cl\expndtw-1 a\expndtw0 ssi\expndtw-1 f\expndtw0 ied\expndtw-6 \expndtw0 as\expndtw-5 \expndtw0 a\expndtw-5 \expndtw0 grant\expndtw-5 \expndtw-1 o\expndtw0 r\expndtw-5 \expndtw0 sponsorship\expndtw-5 \expndtw0 if\expndtw-5 \expndtw0 it\expndtw-5 \expndtw0 res\expndtw-1 u\expndtw0 lts\expndtw-5 \expndtw0 in\expndtw-4 \expndtw0 a\expndtw-5 \expndtw0 transfer\expndtw-7 \expndtw0 of\expndtw-5 \expndtw0 resourc\expndtw-1 e\expndtw0 s\expndtw-5 \expndtw0 (eg cash\expndtw-6 \expndtw0 or\expndtw-6 \expndtw0 physical\expndtw-5 \expndtw-1 a\expndtw0 ssets)\expndtw-8 \expndtw0 to\expndtw-6 \expndtw0 another\expndtw-6 \expndtw0 entity\expndtw-6 \expndtw0 or\expndtw-6 \expndtw0 individual\expndtw-5 \expndtw0 in\expndtw-6 \expndtw0 re\expndtw-1 t\expndtw0 urn\expndtw-6 \expndtw0 for\expndtw-5 \expndtw0 compliance\expndtw-6 \expndtw0 with\expndtw-6 \expndtw0 certain conditions\expndtw-7 \expndtw-2 r\expndtw0 elating\expndtw-6 \expndtw0 to\expndtw-6 \expndtw0 t\expndtw-1 h\expndtw0 e\expndtw-7 \expndtw0 operating\expndtw-7 \expndtw0 activities\expndtw-6 \expndtw0 of\expndtw-6 \expndtw-1 t\expndtw0 hat\expndtw-7 \expndtw0 entity.\expndtw-6 \expndtw0 It\expndtw-6 \expndtw0 includes\expndtw-7 \expndtw-1 a\expndtw0 ny\expndtw-6 \expndtw0 expenditure\expndtw-6 \expndtw0 arising from\expndtw-6 \expndtw0 a\expndtw-6 \expndtw0 funding\expndtw-5 \expndtw0 arrangement\expndtw-6 \expndtw0 with\expndtw-5 \expndtw0 another\expndtw-6 \expndtw0 entity\expndtw-5 \expndtw0 that\expndtw-6 \expndtw0 has\expndtw-5 \expndtw0 b\expndtw-1 e\expndtw0 en\expndtw-6 \expndtw0 entered\expndtw-5 \expndtw0 into\expndtw-6 \expndtw0 to\expndtw-5 \expndtw0 achi\expndtw-1 ev\expndtw0 e\expndtw-6 \expndtw0 the objectives\expndtw-7 \expndtw0 of\expndtw-7 \expndtw0 the\expndtw-7 \expndtw0 Council.\expndtw-7 \expndtw0 Grants\expndtw-6 \expndtw0 and\expndtw-7 \expndtw0 sponsorshi\expndtw-1 p\expndtw0 s\expndtw-6 \expndtw0 are\expndtw-7 \expndtw0 distinct\expndtw-6 \expndtw0 from\expndtw-6 \expndtw0 donations\expndtw-7 \expndtw0 that\expndtw-6 \expndtw0 are discretiona\expndtw-2 r\expndtw0 y\expndtw-8 \expndtw0 or\expndtw-8 \expndtw0 charitable\expndtw-8 \expndtw0 gifts.\expndtw-7 \expndtw0 Wh\expndtw-1 e\expndtw0 re\expndtw-8 \expndtw0 grants\expndtw-8 \expndtw0 a\expndtw-1 n\expndtw0 d\expndtw-8 \expndtw0 sponsors\expndtw-1 h\expndtw0 ips\expndtw-7 \expndtw0 are\expndtw-8 \expndtw0 disc\expndtw-2 r\expndtw0 etionary\expndtw-8 \expndtw0 until payment,\expndtw-7 \expndtw0 t\expndtw1 h\expndtw0 e\expndtw-6 \expndtw0 expense\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 recognis\expndtw-1 e\expndtw0 d\expndtw-7 \expndtw0 when\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 payment\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 made.\expndtw-7 \expndtw0 Otherwise,\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 expense\expndtw-6 \expndtw0 is recognised\expndtw-9 \expndtw0 when\expndtw-7 \expndtw0 the\expndtw-7 \expndtw0 specified\expndtw-8 \expndtw0 c\expndtw-2 r\expndtw0 ite\expndtw-2 r\expndtw0 ia\expndtw-7 \expndtw0 have\expndtw-8 \expndtw0 been\expndtw-7 \expndtw0 fulfille\expndtw-1 d\expndtw0 .\par
\pard\sb15\sl-240\slmult0\f0\fs24\par
\pard\s2\li100\sl240\slmult1\b\f1\fs22 Finance\expndtw-18 \expndtw0 expense\b0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li100\sl240\slmult1\i\f1\fs22 Interest\i0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li100\ri82\sl240\slmult1\f1\fs22 Interest\expndtw-7 \expndtw0 expense\expndtw-7 \expndtw0 is\expndtw-7 \expndtw0 r\expndtw-1 e\expndtw0 c\expndtw-1 o\expndtw0 gnised\expndtw-6 \expndtw0 usi\expndtw-1 n\expndtw0 g\expndtw-7 \expndtw0 the\expndtw-7 \expndtw0 effective\expndtw-7 \expndtw0 interest\expndtw-6 \expndtw0 rate\expndtw-7 \expndtw0 method.\expndtw-7 \expndtw0 All\expndtw-6 \expndtw0 borrowing\expndtw-7 \expndtw0 costs are\expndtw-6 \expndtw0 expensed\expndtw-5 \expndtw0 in\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 period\expndtw-5 \expndtw0 in\expndtw-6 \expndtw0 which\expndtw-5 \expndtw-1 t\expndtw0 hey\expndtw-5 \expndtw0 are\expndtw-5 \expndtw0 incurred.\par
\pard\sb13\sl-240\slmult0\f0\fs24\par
\pard\s2\li100\sl240\slmult1\b\f1\fs22 Depreciation\expndtw-16 \expndtw0 and\expndtw-15 \expndtw0 amortisation\b0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li100\sl240\slmult1\f1\fs22 Depreciati\expndtw-1 o\expndtw0 n\expndtw-8 \expndtw0 of\expndtw-7 \expndtw0 property,\expndtw-7 \expndtw0 plant\expndtw-7 \expndtw0 and\expndtw-7 \expndtw0 equipment\expndtw-7 \expndtw0 and\expndtw-7 \expndtw0 amortisation\expndtw-7 \expndtw0 of\expndtw-7 \expndtw0 intan\expndtw-1 g\expndtw0 ible\expndtw-7 \expndtw0 ass\expndtw-1 e\expndtw0 ts\expndtw-7 \expndtw-1 a\expndtw0 re charged\expndtw-6 \expndtw0 on\expndtw-7 \expndtw0 a\expndtw-6 \expndtw0 straight-li\expndtw-1 n\expndtw0 e\expndtw-6 \expndtw0 basis\expndtw-6 \expndtw0 over\expndtw-7 \expndtw0 the\expndtw-6 \expndtw0 estimated\expndtw-6 \expndtw0 useful\expndtw-6 \expndtw0 li\expndtw-1 f\expndtw0 e\expndtw-6 \expndtw0 of\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 associated\expndtw-6 \expndtw0 assets.\par
\pard\sb17\sl-260\slmult0\f0\fs26\par
\pard\s1\li100\sl240\slmult1\expndtw-1\b\f1\fs24 Taxation\expndtw0\b0\par
\pard\sb11\sl-240\slmult0\f0\par
\pard\li100\ri197\sl240\slmult1\f1\fs22 The\expndtw-5 \expndtw0 Council,\expndtw-4 \expndtw0 as\expndtw-5 \expndtw0 a\expndtw-4 \expndtw0 loc\expndtw-1 a\expndtw0 l\expndtw-5 \expndtw0 authority,\expndtw-5 \expndtw0 is\expndtw-5 \expndtw0 only\expndtw-4 \expndtw0 liable\expndtw-5 \expndtw0 f\expndtw-1 o\expndtw0 r\expndtw-4 \expndtw0 income\expndtw-4 \expndtw0 tax\expndtw-5 \expndtw0 on\expndtw-4 \expndtw0 the\expndtw-4 \expndtw0 surplus\expndtw-5 \expndtw0 or\expndtw-4 \expndtw0 deficit\expndtw-5 \expndtw0 for\expndtw-5 \expndtw0 the year\expndtw-8 \expndtw0 derived\expndtw-6 \expndtw0 from\expndtw-8 \expndtw0 any\expndtw-7 \expndtw0 Council\expndtw-7 \expndtw0 co\expndtw-1 n\expndtw0 t\expndtw-2 r\expndtw0 olled\expndtw-7 \expndtw0 trading\expndtw-9 \expndtw0 organisati\expndtw-1 o\expndtw0 ns\expndtw-7 \expndtw0 and\expndtw-7 \expndtw0 comprises\expndtw-8 \expndtw0 curr\expndtw-1 e\expndtw0 nt\expndtw-7 \expndtw0 and deferred\expndtw-12 \expndtw0 tax.\par
\pard\li120\ri348\sb77\sl240\slmult1\qj Current\expndtw-5 \expndtw0 tax\expndtw-4 \expndtw0 is\expndtw-5 \expndtw0 the\expndtw-4 \expndtw0 expected\expndtw-4 \expndtw0 tax\expndtw-5 \expndtw0 pay\expndtw1 a\expndtw0 ble\expndtw-4 \expndtw0 on\expndtw-4 \expndtw0 the\expndtw-5 \expndtw0 t\expndtw-1 a\expndtw0 xable\expndtw-4 \expndtw0 income\expndtw-4 \expndtw0 for\expndtw-5 \expndtw0 the\expndtw-4 \expndtw0 year,\expndtw-4 \expndtw0 using\expndtw-5 \expndtw0 tax\expndtw-4 \expndtw0 rates enacted\expndtw-6 \expndtw0 or\expndtw-5 \expndtw0 substantively\expndtw-5 \expndtw0 enacted\expndtw-5 \expndtw0 at\expndtw-5 \expndtw-1 t\expndtw0 he\expndtw-6 \expndtw0 end\expndtw-5 \expndtw0 of\expndtw-5 \expndtw0 t\expndtw-1 h\expndtw0 e\expndtw-5 \expndtw0 reporting\expndtw-6 \expndtw0 period,\expndtw-5 \expndtw0 plus\expndtw-6 \expndtw0 any\expndtw-6 \expndtw0 adjustment\expndtw-5 \expndtw0 to tax\expndtw-7 \expndtw0 payable\expndtw-5 \expndtw0 in\expndtw-6 \expndtw0 respect\expndtw-7 \expndtw0 of\expndtw-7 \expndtw0 previous\expndtw-6 \expndtw0 periods.\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
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\pard\li120\ri204\sb77\sl240\slmult1 interest\expndtw-6 \expndtw0 at\expndtw-5 \expndtw0 t\expndtw-1 h\expndtw0 e\expndtw-5 \expndtw0 reporting\expndtw-7 \expndtw0 date\expndtw-5 \expndtw0 for\expndtw-5 \expndtw0 assets\expndtw-6 \expndtw0 of\expndtw-5 \expndtw0 a\expndtw-5 \expndtw0 similar\expndtw-6 \expndtw0 maturity\expndtw-5 \expndtw1 a\expndtw0 nd\expndtw-5 \expndtw0 credit\expndtw-6 \expndtw0 risk.\expndtw-5 \expndtw0 Receivables\expndtw-5 \expndtw0 and recoverables\expndtw-6 \expndtw0 due\expndtw-6 \expndtw0 in\expndtw-6 \expndtw0 l\expndtw-1 e\expndtw0 ss\expndtw-5 \expndtw0 than\expndtw-6 \expndtw0 12\expndtw-6 \expndtw0 months\expndtw-5 \expndtw0 are\expndtw-6 \expndtw0 recognised\expndtw-6 \expndtw0 at\expndtw-5 \expndtw-1 t\expndtw0 heir\expndtw-6 \expndtw0 nominal\expndtw-6 \expndtw0 value.\expndtw-6 \expndtw0 A\expndtw-5 \expndtw0 provision for\expndtw-6 \expndtw0 impairm\expndtw1 e\expndtw0 nt\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 recog\expndtw-1 n\expndtw0 ised\expndtw-5 \expndtw0 when\expndtw-6 \expndtw0 there\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 obj\expndtw-1 e\expndtw0 c\expndtw-1 t\expndtw0 ive\expndtw-5 \expndtw0 evidence\expndtw-6 \expndtw0 that\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 asset\expndtw-5 \expndtw0 is\expndtw-6 \expndtw0 impair\expndtw-1 e\expndtw0 d.\expndtw-6 \expndtw0 As there\expndtw-7 \expndtw0 are\expndtw-6 \expndtw0 s\expndtw-1 t\expndtw0 atutory\expndtw-6 \expndtw0 remedies\expndtw-7 \expndtw0 to\expndtw-6 \expndtw0 recover\expndtw-6 \expndtw0 unpaid\expndtw-6 \expndtw0 rates,\expndtw-7 \expndtw0 rates\expndtw-7 \expndtw0 penalties\expndtw-6 \expndtw0 a\expndtw-1 n\expndtw0 d\expndtw-7 \expndtw0 water\expndtw-6 \expndtw0 me\expndtw1 t\expndtw0 er charges,\expndtw-7 \expndtw0 no\expndtw-7 \expndtw0 provision\expndtw-6 \expndtw0 has\expndtw-6 \expndtw0 been\expndtw-7 \expndtw0 made\expndtw-6 \expndtw0 for\expndtw-6 \expndtw0 impairment\expndtw-6 \expndtw0 in\expndtw-7 \expndtw0 respect\expndtw-6 \expndtw0 of\expndtw-6 \expndtw0 these\expndtw-7 \expndtw0 receivables.\par
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\pard\li120\ri192\sl240\slmult1\i\f1\fs22 Financial\expndtw-7 \expndtw-1 as\expndtw0 sets\expndtw-7 \expndtw0 at\expndtw-6 \expndtw0 fair\expndtw-8 \expndtw0 value\expndtw-7 \expndtw0 through\expndtw-7 \expndtw0 other\expndtw-7 \expndtw0 co\expndtw-2 m\expndtw1 p\expndtw0 rehensive\expndtw-7 \expndtw0 r\expndtw-1 e\expndtw0 venue\expndtw-6 \expndtw0 and\expndtw-7 \expndtw-1 e\expndtw0 xpense\expndtw-6 \expndtw0\i0 rela\expndtw-1 t\expndtw0 e\expndtw-6 \expndtw0 to equity\expndtw-7 \expndtw0 investments\expndtw-6 \expndtw0 that\expndtw-6 \expndtw0 are\expndtw-6 \expndtw0 held\expndtw-6 \expndtw0 by\expndtw-7 \expndtw0 the\expndtw-6 \expndtw0 Council\expndtw-6 \expndtw0 f\expndtw-1 o\expndtw0 r\expndtw-6 \expndtw0 long-term\expndtw-6 \expndtw0 strategic\expndtw-7 \expndtw0 pu\expndtw-2 r\expndtw0 poses\expndtw-6 \expndtw0 and therefore\expndtw-6 \expndtw0 are\expndtw-5 \expndtw0 not\expndtw-6 \expndtw0 inten\expndtw-1 d\expndtw0 ed\expndtw-5 \expndtw0 to\expndtw-6 \expndtw0 be\expndtw-5 \expndtw0 sold.\expndtw-5 \expndtw0 Financi\expndtw-1 a\expndtw0 l\expndtw-7 \expndtw0 assets\expndtw-5 \expndtw0 at\expndtw-5 \expndtw-1 f\expndtw0 air\expndtw-6 \expndtw0 value\expndtw-5 \expndtw0 through\expndtw-6 \expndtw0 other comprehensive\expndtw-8 \expndtw0 revenue\expndtw-6 \expndtw0 and\expndtw-7 \expndtw0 expense\expndtw-7 \expndtw0 are\expndtw-7 \expndtw0 initially\expndtw-7 \expndtw0 recorded\expndtw-7 \expndtw0 at\expndtw-8 \expndtw0 fair\expndtw-8 \expndtw0 value\expndtw-7 \expndtw0 plus\expndtw-7 \expndtw0 transac\expndtw-1 ti\expndtw0 on costs.\expndtw-7 \expndtw0 They\expndtw-8 \expndtw0 are\expndtw-6 \expndtw0 subseq\expndtw-1 u\expndtw0 ently\expndtw-7 \expndtw0 measured\expndtw-7 \expndtw0 at\expndtw-6 \expndtw0 fair\expndtw-7 \expndtw0 value\expndtw-6 \expndtw0 and\expndtw-7 \expndtw0 ch\expndtw-1 a\expndtw0 nges,\expndtw-7 \expndtw0 other\expndtw-6 \expndtw-1 t\expndtw0 han\expndtw-7 \expndtw0 impairment losses,\expndtw-7 \expndtw0 are\expndtw-6 \expndtw-2 r\expndtw0 ecognised\expndtw-6 \expndtw-1 d\expndtw0 irectly\expndtw-6 \expndtw0 in\expndtw-7 \expndtw0 a\expndtw-6 \expndtw-2 r\expndtw0 eserve\expndtw-6 \expndtw0 within\expndtw-6 \expndtw0 equity.\expndtw-6 \expndtw0 On\expndtw-5 \expndtw0 disposal,\expndtw-6 \expndtw0 t\expndtw-1 h\expndtw0 e\expndtw-6 \expndtw0 cumulative\expndtw-6 \expndtw0 fair value\expndtw-7 \expndtw0 gain\expndtw-7 \expndtw0 or\expndtw-7 \expndtw0 loss\expndtw-7 \expndtw0 previ\expndtw-1 o\expndtw0 usly\expndtw-7 \expndtw0 recognised\expndtw-8 \expndtw0 directly\expndtw-7 \expndtw0 in\expndtw-7 \expndtw0 other\expndtw-7 \expndtw0 comprehensive\expndtw-7 \expndtw0 revenue\expndtw-7 \expndtw0 and expense\expndtw-7 \expndtw0 is\expndtw-7 \expndtw-2 r\expndtw0 ecognised\expndtw-7 \expndtw-2 w\expndtw0 ithin\expndtw-7 \expndtw0 surpl\expndtw-1 u\expndtw0 s\expndtw-7 \expndtw0 or\expndtw-7 \expndtw0 deficit.\par
\pard\sb13\sl-240\slmult0\f0\fs24\par
\pard\s2\li120\sl240\slmult1\b\f1\fs22 Financial\expndtw-19 \expndtw0 l\expndtw-1 i\expndtw0 abilities\b0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li120\ri144\sl240\slmult1\f1\fs22 Financial\expndtw-10 \expndtw0 li\expndtw-1 a\expndtw0 biliti\expndtw-1 e\expndtw0 s\expndtw-9 \expndtw0 comprise\expndtw-9 \expndtw0 payables\expndtw-9 \expndtw0 under\expndtw-9 \expndtw0 exchange\expndtw-9 \expndtw0 transactions,\expndtw-9 \expndtw0 ta\expndtw-2 x\expndtw0 es,\expndtw-9 \expndtw0 transfers\expndtw-9 \expndtw0 and borrowings.\expndtw-7 \expndtw0 Financial\expndtw-8 \expndtw0 li\expndtw-1 a\expndtw0 biliti\expndtw-1 e\expndtw0 s\expndtw-7 \expndtw0 with\expndtw-8 \expndtw0 duration\expndtw-6 \expndtw0 of\expndtw-8 \expndtw0 more\expndtw-7 \expndtw0 than\expndtw-7 \expndtw0 12\expndtw-7 \expndtw0 months\expndtw-6 \expndtw0 are\expndtw-7 \expndtw0 recognis\expndtw-1 e\expndtw0 d\expndtw-7 \expndtw0 initia\expndtw-1 l\expndtw0 ly at\expndtw-7 \expndtw0 fair\expndtw-6 \expndtw0 value\expndtw-6 \expndtw0 plus\expndtw-6 \expndtw0 trans\expndtw-1 ac\expndtw0 tion\expndtw-6 \expndtw0 cos\expndtw-1 t\expndtw0 s\expndtw-7 \expndtw-1 a\expndtw0 nd\expndtw-6 \expndtw0 subseq\expndtw-1 u\expndtw0 ently\expndtw-6 \expndtw0 measured\expndtw-6 \expndtw0 at\expndtw-6 \expndtw0 amortised\expndtw-6 \expndtw0 cost\expndtw-7 \expndtw0 using\expndtw-6 \expndtw0 the effective\expndtw-8 \expndtw0 in\expndtw-1 t\expndtw0 erest\expndtw-7 \expndtw0 rate\expndtw-8 \expndtw0 method.\expndtw-7 \expndtw0 Amortisation\expndtw-8 \expndtw0 is\expndtw-7 \expndtw0 r\expndtw-1 e\expndtw0 cognised\expndtw-7 \expndtw0 wi\expndtw-1 t\expndtw0 hin\expndtw-8 \expndtw0 surplus\expndtw-8 \expndtw0 or\expndtw-8 \expndtw0 deficit.\expndtw-7 \expndtw-1 Fi\expndtw0 nancial liabilities\expndtw-6 \expndtw0 wi\expndtw-1 t\expndtw0 h\expndtw-6 \expndtw0 duration\expndtw-5 \expndtw0 of\expndtw-7 \expndtw0 less\expndtw-6 \expndtw0 than\expndtw-5 \expndtw-1 1\expndtw0 2\expndtw-6 \expndtw0 months\expndtw-6 \expndtw0 are\expndtw-5 \expndtw0 recognis\expndtw-1 e\expndtw0 d\expndtw-6 \expndtw0 at\expndtw-6 \expndtw0 their\expndtw-5 \expndtw0 n\expndtw-1 o\expndtw0 minal\expndtw-6 \expndtw0 value.\par
\pard\sb13\sl-240\slmult0\f0\fs24\par
\pard\li120\sl240\slmult1\f1\fs22 On\expndtw-6 \expndtw0 disposal\expndtw-7 \expndtw0 any\expndtw-6 \expndtw0 gains\expndtw-5 \expndtw0 or\expndtw-6 \expndtw0 losses\expndtw-7 \expndtw0 are\expndtw-5 \expndtw-2 r\expndtw0 ecognised\expndtw-6 \expndtw-2 w\expndtw0 ithin\expndtw-6 \expndtw0 surpl\expndtw-1 u\expndtw0 s\expndtw-6 \expndtw0 or\expndtw-5 \expndtw0 deficit.\par
\pard\sb13\sl-240\slmult0\f0\fs24\par
\pard\s2\li120\sl240\slmult1\b\f1\fs22 Derivatives\b0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li120\ri192\sl240\slmult1\f1\fs22 Derivative\expndtw-8 \expndtw0 f\expndtw1 i\expndtw0 nancial\expndtw-7 \expndtw0 i\expndtw-1 n\expndtw0 st\expndtw-2 r\expndtw0 uments\expndtw-7 \expndtw0 include\expndtw-7 \expndtw0 interest\expndtw-7 \expndtw0 rate\expndtw-8 \expndtw0 swaps\expndtw-7 \expndtw0 used\expndtw-7 \expndtw0 to\expndtw-7 \expndtw0 he\expndtw-1 d\expndtw0 ge\expndtw-7 \expndtw0 exposure\expndtw-8 \expndtw0 to interest\expndtw-7 \expndtw0 rate\expndtw-7 \expndtw0 risk\expndtw-6 \expndtw0 on\expndtw-6 \expndtw0 borr\expndtw-1 o\expndtw0 wings.\expndtw-6 \expndtw0 Derivatives\expndtw-6 \expndtw0 are\expndtw-6 \expndtw0 i\expndtw-1 n\expndtw0 itially\expndtw-6 \expndtw0 recog\expndtw-1 n\expndtw0 ised\expndtw-6 \expndtw0 at\expndtw-6 \expndtw0 fair\expndtw-6 \expndtw-2 v\expndtw0 alue,\expndtw-6 \expndtw0 based\expndtw-7 \expndtw0 on quoted\expndtw-6 \expndtw0 market\expndtw-6 \expndtw0 prices,\expndtw-5 \expndtw0 a\expndtw-1 n\expndtw0 d\expndtw-6 \expndtw0 subsequ\expndtw-1 e\expndtw0 ntly\expndtw-6 \expndtw0 remea\expndtw1 s\expndtw0 ured\expndtw-5 \expndtw0 to\expndtw-6 \expndtw0 fair\expndtw-6 \expndtw0 value\expndtw-5 \expndtw0 at\expndtw-6 \expndtw0 the\expndtw-6 \expndtw-1 e\expndtw0 nd\expndtw-5 \expndtw0 of\expndtw-6 \expndtw0 each reporting\expndtw-6 \expndtw0 p\expndtw-1 e\expndtw0 riod.\expndtw50 \expndtw0 Fair\expndtw-5 \expndtw0 value\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 dete\expndtw-2 r\expndtw0 mined\expndtw-5 \expndtw0 by\expndtw-6 \expndtw0 re\expndtw1 f\expndtw0 erence\expndtw-5 \expndtw0 to\expndtw-6 \expndtw0 q\expndtw-1 u\expndtw0 oted\expndtw-5 \expndtw0 prices\expndtw-6 \expndtw-1 f\expndtw0 or\expndtw-5 \expndtw0 similar instruments\expndtw-7 \expndtw0 in\expndtw-6 \expndtw0 active\expndtw-6 \expndtw0 markets.\expndtw49 \expndtw0 Derivatives\expndtw-5 \expndtw0 that\expndtw-6 \expndtw0 do\expndtw-6 \expndtw0 not\expndtw-6 \expndtw0 qualify\expndtw-6 \expndtw0 for\expndtw-6 \expndtw0 hedge\expndtw-6 \expndtw-1 a\expndtw0 ccounting\expndtw-5 \expndtw0 a\expndtw-2 r\expndtw0 e classified\expndtw-6 \expndtw0 as\expndtw-6 \expndtw0 non-hedged\expndtw-6 \expndtw0 and\expndtw-6 \expndtw0 fair\expndtw-6 \expndtw0 value\expndtw-6 \expndtw0 gains\expndtw-6 \expndtw0 or\expndtw-7 \expndtw0 losses\expndtw-6 \expndtw0 are\expndtw-7 \expndtw0 recognised\expndtw-6 \expndtw-2 w\expndtw0 ithin\expndtw-6 \expndtw0 surpl\expndtw-1 u\expndtw0 s\expndtw-6 \expndtw0 or deficit.\par
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\pard\li120\ri141\sl240\slmult1\f1\fs22 Recognition\expndtw-7 \expndtw0 of\expndtw-6 \expndtw0 fair\expndtw-6 \expndtw0 value\expndtw-6 \expndtw0 gains\expndtw-6 \expndtw0 or\expndtw-6 \expndtw0 l\expndtw-1 o\expndtw0 sses\expndtw-6 \expndtw0 on\expndtw-6 \expndtw0 deri\expndtw-2 v\expndtw0 atives\expndtw-6 \expndtw0 that\expndtw-6 \expndtw0 qualify\expndtw-6 \expndtw0 for\expndtw-6 \expndtw0 hedge\expndtw-6 \expndtw0 accoun\expndtw-1 t\expndtw0 ing depends\expndtw-5 \expndtw0 on\expndtw-6 \expndtw0 the\expndtw-5 \expndtw0 nature\expndtw-5 \expndtw-1 o\expndtw0 f\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 item\expndtw-5 \expndtw0 being\expndtw-5 \expndtw0 hedged.\expndtw-6 \expndtw0 Where\expndtw-5 \expndtw0 a\expndtw-5 \expndtw0 derivative\expndtw-5 \expndtw0 is\expndtw-5 \expndtw0 used\expndtw-5 \expndtw0 to\expndtw-4 \expndtw0 hedge variability\expndtw-5 \expndtw0 of\expndtw-6 \expndtw0 cash\expndtw-5 \expndtw0 flows\expndtw-5 \expndtw-2 (\expndtw0 cash\expndtw-5 \expndtw0 flow\expndtw-5 \expndtw0 h\expndtw-1 e\expndtw0 dge),\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 ef\expndtw-1 f\expndtw0 ective\expndtw-5 \expndtw0 part\expndtw-5 \expndtw0 of\expndtw-5 \expndtw0 any\expndtw-5 \expndtw0 gain\expndtw-5 \expndtw0 or\expndtw-5 \expndtw0 loss\expndtw-5 \expndtw-1 i\expndtw0 s\expndtw-5 \expndtw0 rec\expndtw-1 o\expndtw0 gnised within\expndtw-8 \expndtw0 other\expndtw-8 \expndtw0 comprehensive\expndtw-7 \expndtw0 revenue\expndtw-6 \expndtw0 and\expndtw-8 \expndtw0 expense\expndtw-7 \expndtw0 while\expndtw-7 \expndtw0 the\expndtw-7 \expndtw0 ineffective\expndtw-8 \expndtw0 part\expndtw-7 \expndtw0 is\expndtw-7 \expndtw0 recog\expndtw-1 n\expndtw0 ised within\expndtw-7 \expndtw0 surpl\expndtw-1 u\expndtw0 s\expndtw-7 \expndtw0 or\expndtw-6 \expndtw0 deficit.\expndtw-8 \expndtw0 Gains\expndtw-6 \expndtw0 or\expndtw-7 \expndtw0 losses\expndtw-7 \expndtw0 recog\expndtw-1 n\expndtw0 ised\expndtw-6 \expndtw0 in\expndtw-7 \expndtw0 other\expndtw-7 \expndtw0 comprehensive\expndtw-7 \expndtw0 revenue\expndtw-5 \expndtw0 and expense\expndtw-6 \expndtw0 transfer\expndtw-5 \expndtw0 to\expndtw-5 \expndtw0 sur\expndtw-1 p\expndtw0 lus\expndtw-5 \expndtw0 or\expndtw-6 \expndtw0 deficit\expndtw-6 \expndtw0 in\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 same\expndtw-6 \expndtw0 periods\expndtw-5 \expndtw0 as\expndtw-6 \expndtw0 when\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 hedged\expndtw-6 \expndtw0 item\expndtw-5 \expndtw0 affects the\expndtw-5 \expndtw0 surplus\expndtw-5 \expndtw0 or\expndtw-5 \expndtw0 deficit.\expndtw-5 \expndtw-1 W\expndtw0 here\expndtw-4 \expndtw0 a\expndtw-5 \expndtw0 derivative\expndtw-4 \expndtw0 is\expndtw-5 \expndtw0 used\expndtw-5 \expndtw0 to\expndtw-5 \expndtw0 hedge\expndtw-4 \expndtw0 variability\expndtw-5 \expndtw0 in\expndtw-4 \expndtw0 t\expndtw-1 h\expndtw0 e\expndtw-5 \expndtw0 fair\expndtw-4 \expndtw0 value\expndtw-5 \expndtw0 of\expndtw-5 \expndtw0 the Council\rquote s\expndtw-6 \expndtw-1 f\expndtw0 ixed\expndtw-6 \expndtw0 rate\expndtw-6 \expndtw0 borrowings\expndtw-6 \expndtw0 (fair\expndtw-7 \expndtw0 value\expndtw-5 \expndtw0 hedge),\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 gain\expndtw-6 \expndtw-1 o\expndtw0 r\expndtw-6 \expndtw0 loss\expndtw-6 \expndtw-1 i\expndtw0 s\expndtw-5 \expndtw0 recognised\expndtw-6 \expndtw0 wit\expndtw-1 h\expndtw0 in surplus\expndtw-8 \expndtw0 or\expndtw-8 \expndtw-1 d\expndtw0 eficit.\par
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\pard\li120\ri586\sl240\slmult1\f1\fs22 As\expndtw-8 \expndtw0 per\expndtw-7 \expndtw0 the\expndtw-7 \expndtw-1 I\expndtw0 nternational\expndtw-8 \expndtw0 Swap\expndtw-7 \expndtw0 Deal\expndtw1 e\expndtw0 rs\rquote\expndtw-7 \expndtw0 Association\expndtw-7 \expndtw0 (ISDA)\expndtw-8 \expndtw0 master\expndtw-7 \expndtw0 agre\expndtw-1 e\expndtw0 ments,\expndtw-7 \expndtw0 all\expndtw-7 \expndtw0 swap payments\expndtw-7 \expndtw0 or\expndtw-7 \expndtw0 receipts\expndtw-6 \expndtw0 are\expndtw-7 \expndtw0 settled\expndtw-7 \expndtw0 net.\par
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\pard\s1\li120\sl240\slmult1\expndtw-1\b\f1\fs24 Investmen\expndtw0 t \expndtw-1 properties\expndtw0\b0\par
\pard\sb13\sl-240\slmult0\f0\par
\pard\li120\ri621\sl240\slmult1\qj\f1\fs22 Investment\expndtw-5 \expndtw0 properties\expndtw-5 \expndtw-1 a\expndtw0 re\expndtw-6 \expndtw0 properti\expndtw-1 e\expndtw0 s\expndtw-5 \expndtw0 that\expndtw-5 \expndtw0 are\expndtw-6 \expndtw0 h\expndtw-1 e\expndtw0 ld\expndtw-5 \expndtw0 primarily\expndtw-6 \expndtw0 to\expndtw-5 \expndtw0 earn\expndtw-5 \expndtw0 rental\expndtw-6 \expndtw0 revenue\expndtw-5 \expndtw0 or\expndtw-5 \expndtw0 for capital\expndtw-6 \expndtw0 gro\expndtw-2 w\expndtw0 th\expndtw-5 \expndtw0 or\expndtw-5 \expndtw0 both.\expndtw-5 \expndtw-1 T\expndtw0 hese\expndtw-5 \expndtw0 incl\expndtw-1 ud\expndtw0 e\expndtw-6 \expndtw0 the\expndtw-5 \expndtw0 Council\rquote s\expndtw-5 \expndtw0 ground\expndtw-6 \expndtw-1 l\expndtw0 eases,\expndtw-5 \expndtw0 and\expndtw-7 \expndtw0 certain\expndtw-5 \expndtw0 land\expndtw-6 \expndtw0 and buildings.\par
\pard\li120\ri218\sb77\sl240\slmult1 Investment\expndtw-6 \expndtw0 properties\expndtw-7 \expndtw-1 ex\expndtw0 clude\expndtw-6 \expndtw0 those\expndtw-7 \expndtw0 properties\expndtw-8 \expndtw0 held\expndtw-6 \expndtw0 for\expndtw-7 \expndtw0 stra\expndtw-1 t\expndtw0 egic\expndtw-7 \expndtw0 purposes\expndtw-6 \expndtw0 or\expndtw-7 \expndtw0 to\expndtw-6 \expndtw0 provide\expndtw-7 \expndtw0 a social\expndtw-7 \expndtw0 service.\expndtw-7 \expndtw0 This\expndtw-6 \expndtw0 i\expndtw-1 n\expndtw0 cl\expndtw-1 u\expndtw0 des\expndtw-6 \expndtw0 properties\expndtw-6 \expndtw0 that\expndtw-6 \expndtw0 gen\expndtw-1 e\expndtw0 rate\expndtw-6 \expndtw0 cash\expndtw-6 \expndtw0 in\expndtw-1 f\expndtw0 lows\expndtw-6 \expndtw0 as\expndtw-7 \expndtw0 the\expndtw-7 \expndtw0 rental\expndtw-6 \expndtw0 revenue\expndtw-6 \expndtw0 is incidental\expndtw-8 \expndtw0 to\expndtw-7 \expndtw0 the\expndtw-7 \expndtw0 purpose\expndtw-7 \expndtw0 for\expndtw-7 \expndtw0 holding\expndtw-6 \expndtw-1 t\expndtw0 he\expndtw-6 \expndtw0 property.\expndtw-7 \expndtw0 Such\expndtw-6 \expndtw0 properties\expndtw-7 \expndtw0 include\expndtw-7 \expndtw0 the\expndtw-7 \expndtw0 Council\rquote s social\expndtw-7 \expndtw0 ho\expndtw-1 u\expndtw0 sing\expndtw-6 \expndtw0 assets,\expndtw-6 \expndtw-2 w\expndtw0 hich\expndtw-6 \expndtw0 are\expndtw-7 \expndtw0 held\expndtw-6 \expndtw0 within\expndtw-6 \expndtw0 op\expndtw-1 e\expndtw0 rational\expndtw-6 \expndtw0 assets\expndtw-7 \expndtw0 in\expndtw-6 \expndtw0 prope\expndtw-2 r\expndtw0 ty,\expndtw-6 \expndtw0 plant\expndtw-6 \expndtw0 and equipment.\expndtw-8 \expndtw0 Borrowing\expndtw-7 \expndtw0 costs\expndtw-8 \expndtw0 incurred\expndtw-7 \expndtw0 during\expndtw-8 \expndtw0 the\expndtw-8 \expndtw0 construction\expndtw-8 \expndtw0 of\expndtw-8 \expndtw0 investment\expndtw-7 \expndtw0 property\expndtw-8 \expndtw0 are\expndtw-7 \expndtw0 not capitalised.\par
\pard\sb14\sl-240\slmult0\f0\fs24\par
\pard\li120\ri252\sl228\slmult1\f1\fs22 Investment\expndtw-7 \expndtw0 properties\expndtw-7 \expndtw-1 a\expndtw0 re\expndtw-7 \expndtw0 measured\expndtw-7 \expndtw0 initially\expndtw-7 \expndtw0 at\expndtw-7 \expndtw0 cost\expndtw-7 \expndtw0 and\expndtw-7 \expndtw0 s\expndtw-1 u\expndtw0 bsequently\expndtw-7 \expndtw0 measured\expndtw-7 \expndtw0 at\expndtw-7 \expndtw0 fair value,\expndtw-7 \expndtw0 determined\expndtw-6 \expndtw0 annually\expndtw-6 \expndtw0 by\expndtw-6 \expndtw0 an\expndtw-6 \expndtw0 independent\expndtw-7 \expndtw0 registered\expndtw-6 \expndtw0 valuer.\expndtw-6 \expndtw0 Any\expndtw-6 \expndtw0 gain\expndtw-6 \expndtw0 or\expndtw-6 \expndtw0 loss\expndtw-7 \expndtw0 arising\expndtw-6 \expndtw0 is recognised\expndtw-9 \expndtw0 within\expndtw-8 \expndtw0 surpl\expndtw-1 u\expndtw0 s\expndtw-8 \expndtw0 or\expndtw-8 \expndtw0 deficit.\expndtw-8 \expndtw-1 I\expndtw0 nvestment\expndtw-8 \expndtw1 p\expndtw0 roperties\expndtw-7 \expndtw0 a\expndtw-2 r\expndtw0 e\expndtw-8 \expndtw0 not\expndtw-8 \expndtw0 depreciated.\par
\pard\sb17\sl-260\slmult0\f0\fs26\par
\pard\s1\li120\sl240\slmult1\b\f1\fs24 Non-current assets classifi\expndtw-1 e\expndtw0 d \expndtw-1 a\expndtw0 s \expndtw-1 hel\expndtw0 d \expndtw-1 fo\expndtw0 r \expndtw-1 sale\expndtw0\b0\par
\pard\sb13\sl-240\slmult0\f0\par
\pard\li120\ri117\sl240\slmult1\f1\fs22 Non-current\expndtw-7 \expndtw0 assets\expndtw-6 \expndtw0 h\expndtw-1 e\expndtw0 ld\expndtw-7 \expndtw0 for\expndtw-6 \expndtw0 sale\expndtw-6 \expndtw0 are\expndtw-7 \expndtw0 separately\expndtw-6 \expndtw0 classi\expndtw-1 f\expndtw0 ied\expndtw-6 \expndtw0 as\expndtw-6 \expndtw-1 t\expndtw0 heir\expndtw-6 \expndtw0 carrying\expndtw-6 \expndtw0 amount\expndtw-6 \expndtw0 will\expndtw-6 \expndtw0 be recovered\expndtw-7 \expndtw0 through\expndtw-7 \expndtw0 a\expndtw-7 \expndtw0 sale\expndtw-8 \expndtw0 transaction\expndtw-8 \expndtw0 rather\expndtw-7 \expndtw0 than\expndtw-7 \expndtw0 through\expndtw-7 \expndtw0 continuing\expndtw-7 \expndtw0 use.\expndtw-7 \expndtw0 A\expndtw-9 \expndtw0 non-current\expndtw-7 \expndtw0 asset is\expndtw-6 \expndtw0 cl\expndtw-1 a\expndtw0 ssi\expndtw-1 f\expndtw0 ied\expndtw-6 \expndtw0 as\expndtw-5 \expndtw0 held\expndtw-5 \expndtw0 for\expndtw-5 \expndtw0 sale\expndtw-5 \expndtw0 where:\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\fi-360\li1919\ri430\sl240\slmult1\tx1920\f1\fs22 the\expndtw-6 \expndtw0 asset\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 available\expndtw-6 \expndtw0 for\expndtw-6 \expndtw0 immediate\expndtw-4 \expndtw0 sale\expndtw-6 \expndtw0 in\expndtw-6 \expndtw0 i\expndtw-1 t\expndtw0 s\expndtw-5 \expndtw0 p\expndtw-2 r\expndtw0 esent\expndtw-6 \expndtw0 condi\expndtw-1 t\expndtw0 ion\expndtw-6 \expndtw0 subject only\expndtw-5 \expndtw0 to\expndtw-5 \expndtw0 terms\expndtw-5 \expndtw0 that\expndtw-5 \expndtw0 are\expndtw-5 \expndtw0 usual\expndtw-4 \expndtw0 and\expndtw-5 \expndtw0 cus\expndtw-1 t\expndtw0 omary\expndtw-5 \expndtw0 for\expndtw-5 \expndtw0 s\expndtw1 a\expndtw0 les\expndtw-5 \expndtw0 of\expndtw-5 \expndtw0 s\expndtw-1 u\expndtw0 ch\expndtw-5 \expndtw0 assets\par
\pard\fi-360\li1919\ri476\sl240\slmult1\tx1920 a\expndtw-4 \expndtw0 plan\expndtw-4 \expndtw0 to\expndtw-4 \expndtw0 sell\expndtw-4 \expndtw0 the\expndtw-4 \expndtw0 asset\expndtw-5 \expndtw0 is\expndtw-4 \expndtw0 in\expndtw-4 \expndtw0 place\expndtw-4 \expndtw0 a\expndtw-1 n\expndtw0 d\expndtw-4 \expndtw0 an\expndtw-4 \expndtw0 active\expndtw-4 \expndtw0 programme\expndtw-3 \expndtw0 to\expndtw-4 \expndtw0 locate\expndtw-4 \expndtw0 a buyer\expndtw-8 \expndtw0 has\expndtw-7 \expndtw0 been\expndtw-7 \expndtw0 initiated\par
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\pard\fi-360\li1919\ri356\sl-254\slmult0\tx1920 the\expndtw-5 \expndtw0 sale\expndtw-4 \expndtw0 is\expndtw-4 \expndtw-1 ex\expndtw0 pected\expndtw-4 \expndtw0 to\expndtw-4 \expndtw0 occur\expndtw-4 \expndtw0 within\expndtw-4 \expndtw0 1\expndtw-6 \expndtw0 year\expndtw-4 \expndtw0 or\expndtw-4 \expndtw0 beyond\expndtw-4 \expndtw0 1\expndtw-4 \expndtw0 year\expndtw-4 \expndtw0 where\expndtw-4 \expndtw0 a delay\expndtw-6 \expndtw0 has\expndtw-6 \expndtw0 occurred\expndtw-6 \expndtw0 that\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 caus\expndtw-1 e\expndtw0 d\expndtw-6 \expndtw0 by\expndtw-6 \expndtw0 events\expndtw-5 \expndtw0 beyond\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 Group\rquote s\expndtw-6 \expndtw0 contr\expndtw-1 o\expndtw0 l and\expndtw-6 \expndtw0 there\expndtw-6 \expndtw0 is\expndtw-7 \expndtw0 sufficie\expndtw-1 n\expndtw0 t\expndtw-5 \expndtw0 evidence\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 Group\expndtw-6 \expndtw0 remains\expndtw-5 \expndtw0 committed\expndtw-6 \expndtw0 to\expndtw-6 \expndtw0 sell\expndtw-6 \expndtw0 the asset\par
\pard\fi-361\li1920\sl-248\slmult0\tx1920 actions\expndtw-6 \expndtw0 req\expndtw-1 u\expndtw0 ired\expndtw-6 \expndtw0 to\expndtw-6 \expndtw0 complete\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 sale\expndtw-6 \expndtw0 indicate\expndtw-7 \expndtw0 it\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 unlikely\expndtw-6 \expndtw0 that\expndtw-6 \expndtw0 significant\par
\pard\li1919\sl240\slmult1 changes\expndtw-5 \expndtw0 to\expndtw-4 \expndtw-1 t\expndtw0 he\expndtw-5 \expndtw0 plan\expndtw-4 \expndtw0 will\expndtw-6 \expndtw0 be\expndtw-4 \expndtw0 made\expndtw-5 \expndtw0 or\expndtw-4 \expndtw0 the\expndtw-5 \expndtw0 plan\expndtw-4 \expndtw0 will\expndtw-6 \expndtw0 be\expndtw-4 \expndtw0 withdrawn.\par
\pard\sb14\sl-240\slmult0\f0\fs24\par
\pard\li119\ri190\sl228\slmult1\f1\fs22 A\expndtw-5 \expndtw0 non-current\expndtw-5 \expndtw0 asset\expndtw-5 \expndtw0 classified\expndtw-5 \expndtw0 as\expndtw-5 \expndtw0 held\expndtw-5 \expndtw0 for\expndtw-5 \expndtw0 sale\expndtw-5 \expndtw0 is\expndtw-6 \expndtw0 recognised\expndtw-6 \expndtw0 at\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 lower\expndtw-5 \expndtw0 of\expndtw-5 \expndtw0 its\expndtw-5 \expndtw0 carryi\expndtw-1 n\expndtw0 g amount\expndtw-6 \expndtw0 or\expndtw-6 \expndtw0 fair\expndtw-6 \expndtw0 value\expndtw-6 \expndtw0 less\expndtw-5 \expndtw0 cos\expndtw-2 t\expndtw0 s\expndtw-6 \expndtw0 to\expndtw-6 \expndtw0 s\expndtw-1 e\expndtw0 ll.\expndtw-6 \expndtw0 Impairment\expndtw-6 \expndtw0 loss\expndtw-1 e\expndtw0 s\expndtw-5 \expndtw0 on\expndtw-7 \expndtw0 initial\expndtw-7 \expndtw0 classification\expndtw-6 \expndtw0 are\expndtw-6 \expndtw0 included within\expndtw-7 \expndtw0 surpl\expndtw-1 u\expndtw0 s\expndtw-7 \expndtw0 or\expndtw-8 \expndtw0 defic\expndtw-1 i\expndtw0 t.\par
\pard\sb17\sl-260\slmult0\f0\fs26\par
\pard\s1\li120\sl240\slmult1\b\f1\fs24 Proper\expndtw1 t\expndtw-3 y\expndtw0 ,\expndtw1 \expndtw0 plant\expndtw1 \expndtw0 and\expndtw-1 \expndtw0 equipment\b0\par
\pard\sb13\sl-240\slmult0\f0\par
\pard\li120\ri1093\sl240\slmult1\f1\fs22 Property,\expndtw-8 \expndtw0 plant\expndtw-7 \expndtw0 and\expndtw-8 \expndtw0 equipment\expndtw-7 \expndtw0 consists\expndtw-8 \expndtw0 of\expndtw-7 \expndtw0 opera\expndtw-1 t\expndtw0 ional\expndtw-8 \expndtw0 ass\expndtw-1 e\expndtw0 ts,\expndtw-8 \expndtw0 restricted\expndtw-7 \expndtw-1 a\expndtw0 ssets\expndtw-8 \expndtw0 and infrastructu\expndtw-2 r\expndtw0 e\expndtw-20 \expndtw0 assets.\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li120\ri433\sl240\slmult1\f1\fs22 Operational\expndtw-8 \expndtw0 assets\expndtw-7 \expndtw-1 i\expndtw0 ncl\expndtw-1 u\expndtw0 de\expndtw-7 \expndtw0 land,\expndtw-8 \expndtw0 the\expndtw-8 \expndtw0 landfill\expndtw-7 \expndtw0 p\expndtw-1 o\expndtw0 st\expndtw-2 -\expndtw0 closure\expndtw-8 \expndtw0 asset,\expndtw-7 \expndtw0 buildin\expndtw-1 gs\expndtw0 ,\expndtw-7 \expndtw0 the\expndtw-7 \expndtw0 Civic\expndtw-8 \expndtw0 Centre complex,\expndtw-8 \expndtw0 the\expndtw-7 \expndtw0 library\expndtw-7 \expndtw0 collection,\expndtw-7 \expndtw0 and\expndtw-9 \expndtw0 plant\expndtw-7 \expndtw0 and\expndtw-7 \expndtw0 e\expndtw-1 q\expndtw0 uipment.\par
\pard\sb13\sl-240\slmult0\f0\fs24\par
\pard\li120\ri142\sl240\slmult1\qj\f1\fs22 Restricted\expndtw-7 \expndtw-1 a\expndtw0 ssets\expndtw-6 \expndtw0 i\expndtw-1 n\expndtw0 clu\expndtw-1 d\expndtw0 e\expndtw-6 \expndtw0 art\expndtw-6 \expndtw0 and\expndtw-6 \expndtw0 cultural\expndtw-6 \expndtw0 asse\expndtw-1 t\expndtw0 s,\expndtw-7 \expndtw0 zoo\expndtw-7 \expndtw0 animals,\expndtw-6 \expndtw0 restric\expndtw-1 t\expndtw0 ed\expndtw-7 \expndtw0 buildings,\expndtw-7 \expndtw-1 p\expndtw0 arks\expndtw-6 \expndtw0 and reserves\expndtw-5 \expndtw0 and\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 Town\expndtw-5 \expndtw0 Belt.\expndtw-5 \expndtw0 These\expndtw-5 \expndtw0 assets\expndtw-5 \expndtw0 prov\expndtw-1 i\expndtw0 de\expndtw-5 \expndtw0 a\expndtw-5 \expndtw0 benefit\expndtw-6 \expndtw0 or\expndtw-4 \expndtw0 service\expndtw-5 \expndtw0 to\expndtw-6 \expndtw0 the\expndtw-5 \expndtw0 comm\expndtw1 u\expndtw0 nity\expndtw-5 \expndtw0 and in\expndtw-6 \expndtw0 most\expndtw-5 \expndtw0 cases\expndtw-6 \expndtw0 cannot\expndtw-5 \expndtw-1 b\expndtw0 e\expndtw-6 \expndtw0 disposed\expndtw-6 \expndtw0 of\expndtw-5 \expndtw0 because\expndtw-7 \expndtw0 of\expndtw-5 \expndtw0 legal\expndtw-6 \expndtw0 or\expndtw-5 \expndtw0 o\expndtw-1 t\expndtw0 her\expndtw-5 \expndtw0 restricti\expndtw-1 o\expndtw0 ns.\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li120\ri101\sl240\slmult1\f1\fs22 Infrastructu\expndtw-2 r\expndtw0 e\expndtw-8 \expndtw0 assets\expndtw-9 \expndtw0 include\expndtw-8 \expndtw0 the\expndtw-8 \expndtw0 roading\expndtw-8 \expndtw0 network,\expndtw-8 \expndtw0 water,\expndtw-8 \expndtw0 waste\expndtw-8 \expndtw0 and\expndtw-8 \expndtw0 drainage\expndtw-8 \expndtw0 reticulation networks,\expndtw-9 \expndtw0 service\expndtw-8 \expndtw0 concession\expndtw-8 \expndtw-1 a\expndtw0 sse\expndtw-1 t\expndtw0 s\expndtw-8 \expndtw0 and\expndtw-8 \expndtw0 infras\expndtw-1 t\expndtw0 ructure\expndtw-8 \expndtw0 land\expndtw-9 \expndtw0 (including\expndtw-9 \expndtw0 l\expndtw-1 a\expndtw0 nd\expndtw-8 \expndtw0 under\expndtw-8 \expndtw0 roads). Each\expndtw-6 \expndtw0 asset\expndtw-5 \expndtw-1 ty\expndtw0 pe\expndtw-5 \expndtw0 includes\expndtw-6 \expndtw0 all\expndtw-5 \expndtw0 items\expndtw-5 \expndtw0 t\expndtw-1 h\expndtw0 at\expndtw-5 \expndtw0 are\expndtw-6 \expndtw0 requi\expndtw-2 r\expndtw0 ed\expndtw-5 \expndtw0 for\expndtw-5 \expndtw0 the\expndtw-5 \expndtw-1 n\expndtw0 etwork\expndtw-6 \expndtw0 to\expndtw-5 \expndtw0 function.\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li120\ri124\sl240\slmult1\f1\fs22 Vested\expndtw-7 \expndtw0 ass\expndtw-1 e\expndtw0 ts\expndtw-6 \expndtw0 are\expndtw-6 \expndtw0 those\expndtw-7 \expndtw0 assets\expndtw-6 \expndtw0 whe\expndtw-2 r\expndtw0 e\expndtw-6 \expndtw0 ownership\expndtw-6 \expndtw0 and\expndtw-6 \expndtw0 control\expndtw-7 \expndtw0 is\expndtw-6 \expndtw0 transferr\expndtw-1 e\expndtw0 d\expndtw-6 \expndtw0 to\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 Council from\expndtw-7 \expndtw0 a\expndtw-6 \expndtw0 third\expndtw-6 \expndtw0 party\expndtw-6 \expndtw0 (eg\expndtw-7 \expndtw0 infrastructure\expndtw-7 \expndtw0 assets\expndtw-7 \expndtw0 cons\expndtw-2 t\expndtw0 ructed\expndtw-6 \expndtw0 by\expndtw-6 \expndtw0 developers\expndtw-7 \expndtw0 and\expndtw-6 \expndtw0 transferr\expndtw-1 e\expndtw0 d\expndtw-6 \expndtw0 to\expndtw-6 \expndtw0 the Council\expndtw-7 \expndtw0 on\expndtw-7 \expndtw0 completion\expndtw-7 \expndtw0 of\expndtw-7 \expndtw0 a\expndtw-7 \expndtw0 subdivisi\expndtw-1 o\expndtw0 n).\expndtw-7 \expndtw0 Vested\expndtw-7 \expndtw0 assets\expndtw-7 \expndtw0 are\expndtw-7 \expndtw0 r\expndtw-1 e\expndtw0 cognised\expndtw-6 \expndtw0 wi\expndtw-2 t\expndtw0 hin\expndtw-7 \expndtw0 their\expndtw-7 \expndtw0 respective asset\expndtw-8 \expndtw0 class\expndtw-1 e\expndtw0 s\expndtw-7 \expndtw0 as\expndtw-7 \expndtw0 above.\par
\pard\li120\ri496\sb78\sl228\slmult1 Heritage\expndtw-9 \expndtw0 assets\expndtw-8 \expndtw0 are\expndtw-8 \expndtw0 ta\expndtw-1 n\expndtw0 gible\expndtw-9 \expndtw0 ass\expndtw-1 e\expndtw0 ts\expndtw-9 \expndtw0 with\expndtw-8 \expndtw0 historical,\expndtw-8 \expndtw0 artistic,\expndtw-9 \expndtw0 scientific,\expndtw-8 \expndtw0 technological, geophysical\expndtw-8 \expndtw0 or\expndtw-7 \expndtw0 environmental\expndtw-8 \expndtw0 quali\expndtw-1 t\expndtw0 ies\expndtw-7 \expndtw0 that\expndtw-7 \expndtw0 are\expndtw-7 \expndtw-1 h\expndtw0 eld\expndtw-7 \expndtw0 and\expndtw-7 \expndtw0 maintained\expndtw-7 \expndtw0 pri\expndtw-1 n\expndtw0 cipally\expndtw-7 \expndtw0 for\expndtw-7 \expndtw0 t\expndtw-1 h\expndtw0 eir contribution\expndtw-9 \expndtw0 to\expndtw-7 \expndtw0 knowled\expndtw-1 g\expndtw0 e\expndtw-7 \expndtw0 and\expndtw-7 \expndtw0 cultu\expndtw-2 r\expndtw0 e.\expndtw-7 \expndtw0 The\expndtw-8 \expndtw0 Council\expndtw-7 \expndtw0 recog\expndtw-1 n\expndtw0 is\expndtw-1 e\expndtw0 s\expndtw-7 \expndtw0 these\expndtw-7 \expndtw0 assets\expndtw-7 \expndtw0 within\expndtw-8 \expndtw0 t\expndtw-1 h\expndtw0 ese prospective\expndtw-8 \expndtw0 financial\expndtw-8 \expndtw0 sta\expndtw-1 t\expndtw0 ements\expndtw-6 \expndtw0 to\expndtw-7 \expndtw0 the\expndtw-7 \expndtw0 extent\expndtw-7 \expndtw0 their\expndtw-6 \expndtw0 value\expndtw-7 \expndtw0 can\expndtw-7 \expndtw0 be\expndtw-7 \expndtw0 reliably\expndtw-6 \expndtw0 measured.\par
\pard\sb15\sl-240\slmult0\f0\fs24\par
\pard\s2\li120\sl240\slmult1\b\f1\fs22 Recognition\b0\par
\pard\sb13\sl-240\slmult0\f0\fs24\par
\pard\li120\ri251\sl228\slmult1\qj\f1\fs22 Expenditure\expndtw-6 \expndtw0 is\expndtw-5 \expndtw0 capi\expndtw-1 t\expndtw0 alis\expndtw-1 e\expndtw0 d\expndtw-5 \expndtw0 as\expndtw-5 \expndtw0 proper\expndtw-1 ty\expndtw0 ,\expndtw-5 \expndtw0 plant\expndtw-5 \expndtw0 and\expndtw-5 \expndtw0 equipment\expndtw-5 \expndtw0 when\expndtw-5 \expndtw0 it\expndtw-5 \expndtw0 cre\expndtw-1 a\expndtw0 tes\expndtw-5 \expndtw0 a\expndtw-5 \expndtw0 new\expndtw-5 \expndtw0 asset\expndtw-5 \expndtw0 or increases\expndtw-6 \expndtw0 t\expndtw-1 h\expndtw0 e\expndtw-5 \expndtw0 economic\expndtw-6 \expndtw0 benefits\expndtw-5 \expndtw0 of\expndtw-5 \expndtw-1 a\expndtw0 n\expndtw-4 \expndtw0 existing\expndtw-5 \expndtw0 asset.\expndtw-5 \expndtw0 Costs\expndtw-5 \expndtw0 t\expndtw-1 h\expndtw0 at\expndtw-5 \expndtw0 do\expndtw-5 \expndtw0 not\expndtw-4 \expndtw0 meet\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 criteria\expndtw-5 \expndtw0 for capitalisati\expndtw-1 o\expndtw0 n\expndtw-14 \expndtw0 are\expndtw-13 \expndtw0 expensed.\par
\pard\sb15\sl-240\slmult0\f0\fs24\par
\pard\s2\li120\sl240\slmult1\b\f1\fs22 Measurem\expndtw1 e\expndtw0 nt\b0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li120\ri424\sl228\slmult1\f1\fs22 Property,\expndtw-6 \expndtw0 plant\expndtw-6 \expndtw0 and\expndtw-6 \expndtw0 equipment\expndtw-5 \expndtw0 is\expndtw-6 \expndtw0 recognised\expndtw-6 \expndtw0 ini\expndtw1 t\expndtw0 ially\expndtw-6 \expndtw0 at\expndtw-5 \expndtw0 cost,\expndtw-7 \expndtw0 unless\expndtw-6 \expndtw-1 a\expndtw0 cquired\expndtw-6 \expndtw0 for\expndtw-5 \expndtw0 nil\expndtw-6 \expndtw0 or nominal\expndtw-5 \expndtw0 cost\expndtw-5 \expndtw0 (eg\expndtw-5 \expndtw0 vested\expndtw-5 \expndtw0 assets),\expndtw-5 \expndtw0 in\expndtw-5 \expndtw0 which\expndtw-5 \expndtw0 case\expndtw-5 \expndtw0 t\expndtw-1 h\expndtw0 e\expndtw-5 \expndtw0 asset\expndtw-4 \expndtw0 is\expndtw-5 \expndtw0 r\expndtw-1 e\expndtw0 cognised\expndtw-5 \expndtw0 at\expndtw-6 \expndtw0 fair\expndtw-5 \expndtw0 value\expndtw-4 \expndtw0 at\expndtw-5 \expndtw0 the date\expndtw-6 \expndtw0 of\expndtw-6 \expndtw0 transfer.\expndtw-6 \expndtw0 The\expndtw-6 \expndtw0 initial\expndtw-6 \expndtw0 cost\expndtw-6 \expndtw0 of\expndtw-6 \expndtw0 p\expndtw-2 r\expndtw0 operty,\expndtw-6 \expndtw0 plant\expndtw-5 \expndtw0 and\expndtw-6 \expndtw0 equipment\expndtw-6 \expndtw0 includ\expndtw-1 e\expndtw0 s\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 purchase considerati\expndtw-1 o\expndtw0 n\expndtw-5 \expndtw0 (or\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 fair\expndtw-7 \expndtw0 value\expndtw-5 \expndtw0 in\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 case\expndtw-5 \expndtw0 of\expndtw-5 \expndtw0 vested\expndtw-5 \expndtw0 assets),\expndtw-5 \expndtw0 and\expndtw-5 \expndtw0 those\expndtw-5 \expndtw0 costs\expndtw-5 \expndtw0 that\expndtw-5 \expndtw0 are directly\expndtw-6 \expndtw0 attributable\expndtw-6 \expndtw0 to\expndtw-6 \expndtw0 b\expndtw-2 r\expndtw0 inging\expndtw-6 \expndtw0 the\expndtw-6 \expndtw-1 a\expndtw0 sset\expndtw-6 \expndtw0 into\expndtw-6 \expndtw0 the\expndtw-7 \expndtw0 location\expndtw-6 \expndtw0 a\expndtw-1 n\expndtw0 d\expndtw-6 \expndtw0 condition\expndtw-7 \expndtw0 necessary\expndtw-6 \expndtw-1 f\expndtw0 or\expndtw-6 \expndtw0 its intended\expndtw-8 \expndtw0 pu\expndtw-2 r\expndtw0 pose.\expndtw-8 \expndtw0 Subs\expndtw-1 e\expndtw0 quent\expndtw-8 \expndtw0 expenditure\expndtw-8 \expndtw0 that\expndtw-8 \expndtw-1 ex\expndtw0 tends\expndtw-8 \expndtw0 or\expndtw-8 \expndtw0 expands\expndtw-8 \expndtw0 the\expndtw-7 \expndtw-1 a\expndtw0 sset\rquote s\expndtw-9 \expndtw0 service potential\expndtw-11 \expndtw0 is\expndtw-10 \expndtw0 capitalised.\par
\pard\sb13\sl-240\slmult0\f0\fs24\par
\pard\li120\ri398\sl240\slmult1\f1\fs22 Borrowing\expndtw-7 \expndtw0 costs\expndtw-7 \expndtw0 incurred\expndtw-6 \expndtw0 during\expndtw-7 \expndtw0 the\expndtw-8 \expndtw0 construction\expndtw-7 \expndtw0 of\expndtw-7 \expndtw0 property,\expndtw-6 \expndtw0 plant\expndtw-7 \expndtw0 and\expndtw-7 \expndtw-1 e\expndtw0 quipment\expndtw-6 \expndtw0 are\expndtw-7 \expndtw0 not capitalised.\par
\pard\sb14\sl-240\slmult0\f0\fs24\par
\pard\li120\ri213\sl228\slmult1\f1\fs22 After\expndtw-7 \expndtw0 initial\expndtw-6 \expndtw-2 r\expndtw0 ecognition,\expndtw-7 \expndtw0 certain\expndtw-6 \expndtw0 cl\expndtw-1 a\expndtw0 sses\expndtw-6 \expndtw0 of\expndtw-7 \expndtw0 prope\expndtw-2 r\expndtw0 ty,\expndtw-6 \expndtw0 plant\expndtw-6 \expndtw0 and\expndtw-6 \expndtw0 equipment\expndtw-7 \expndtw0 are\expndtw-6 \expndtw0 revalued\expndtw-6 \expndtw0 to\expndtw-6 \expndtw0 fair value.\expndtw-6 \expndtw0 Where\expndtw-5 \expndtw0 there\expndtw-5 \expndtw0 is\expndtw-5 \expndtw0 no\expndtw-6 \expndtw0 active\expndtw-5 \expndtw0 market\expndtw-6 \expndtw0 for\expndtw-5 \expndtw0 an\expndtw-5 \expndtw0 asset,\expndtw-5 \expndtw0 fair\expndtw-5 \expndtw0 value\expndtw-5 \expndtw0 is\expndtw-6 \expndtw0 determined\expndtw-5 \expndtw0 by\expndtw-5 \expndtw0 optimised depreciated\expndtw-15 \expndtw0 replacement\expndtw-15 \expndtw0 cost.\par
\pard\sb14\sl-240\slmult0\f0\fs24\par
\pard\li120\ri410\sl240\slmult1\f1\fs22 Specific\expndtw-8 \expndtw0 measurement\expndtw-7 \expndtw0 polici\expndtw-1 e\expndtw0 s\expndtw-7 \expndtw0 for\expndtw-8 \expndtw0 c\expndtw-1 a\expndtw0 tegories\expndtw-7 \expndtw0 of\expndtw-7 \expndtw-1 p\expndtw0 roperty,\expndtw-7 \expndtw0 plant\expndtw-8 \expndtw0 and\expndtw-7 \expndtw0 equi\expndtw-1 pm\expndtw0 ent\expndtw-7 \expndtw0 are\expndtw-7 \expndtw0 shown below:\par
\pard\sb13\sl-240\slmult0\f0\fs24\par
\pard\li120\sl240\slmult1\i\f1\fs22 Operational\expndtw-18 \expndtw0 assets\i0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li120\ri274\sl240\slmult1\f1\fs22 Plant\expndtw-6 \expndtw0 and\expndtw-6 \expndtw0 equipment\expndtw-6 \expndtw0 and\expndtw-5 \expndtw0 the\expndtw-6 \expndtw0 Civic\expndtw-6 \expndtw0 Centre\expndtw-5 \expndtw0 complex\expndtw-6 \expndtw0 are\expndtw-6 \expndtw0 m\expndtw1 e\expndtw0 asured\expndtw-5 \expndtw0 at\expndtw-6 \expndtw0 historical\expndtw-7 \expndtw0 cost\expndtw-6 \expndtw0 and\expndtw-6 \expndtw0 not revalued.\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li120\ri105\sl240\slmult1\f1\fs22 Library\expndtw-6 \expndtw0 coll\expndtw-1 e\expndtw0 ctions\expndtw-5 \expndtw0 are\expndtw-6 \expndtw-2 v\expndtw0 alued\expndtw-5 \expndtw0 at\expndtw-5 \expndtw0 de\expndtw-1 p\expndtw0 reciated\expndtw-5 \expndtw0 replacement\expndtw-5 \expndtw0 cost\expndtw-6 \expndtw0 on\expndtw-5 \expndtw0 a\expndtw-6 \expndtw0 3\expndtw-5 \expndtw0 year\expndtw-5 \expndtw0 cycle\expndtw-6 \expndtw0 by\expndtw-5 \expndtw0 the Council\rquote s\expndtw-8 \expndtw0 li\expndtw-1 b\expndtw0 rary\expndtw-7 \expndtw0 staff\expndtw-7 \expndtw0 in\expndtw-7 \expndtw0 accordance\expndtw-8 \expndtw0 with\expndtw-7 \expndtw0 guideli\expndtw-1 n\expndtw0 es\expndtw-7 \expndtw0 outlined\expndtw-8 \expndtw-1 i\expndtw0 n\expndtw-6 \expndtw0\i Valuation\expndtw-8 \expndtw0 Guidance\expndtw-7 \expndtw0 for Cultural\expndtw-8 \expndtw0 and\expndtw-8 \expndtw0 Heritage\expndtw-7 \expndtw0 Assets,\expndtw-8 \expndtw0\i0 publis\expndtw-1 h\expndtw0 ed\expndtw-7 \expndtw0 by\expndtw-8 \expndtw0 the\expndtw-7 \expndtw0 Treasury\expndtw-8 \expndtw0 Accounting\expndtw-7 \expndtw0 Team,\expndtw-8 \expndtw0 Nov\expndtw1 e\expndtw0 mber\expndtw-8 \expndtw0 2002.\par
\pard\sb18\sl-240\slmult0\f0\fs24\par
\pard\li120\ri82\sl-252\slmult0\f1\fs22 Land\expndtw-6 \expndtw0 and\expndtw-5 \expndtw0 b\expndtw-1 u\expndtw0 ildings\expndtw-5 \expndtw0 are\expndtw-5 \expndtw-2 v\expndtw0 alued\expndtw-5 \expndtw0 at\expndtw-5 \expndtw0 fair\expndtw-6 \expndtw0 value\expndtw-5 \expndtw0 on\expndtw-5 \expndtw0 a\expndtw-5 \expndtw0 3\expndtw-5 \expndtw0 year\expndtw-5 \expndtw0 cycle\expndtw-5 \expndtw0 by\expndtw-5 \expndtw0 independent\expndtw-5 \expndtw0 register\expndtw-1 e\expndtw0 d valuers.\par
\pard\sb11\sl-240\slmult0\f0\fs24\par
\pard\li120\sl240\slmult1\i\f1\fs22 Restricted\expndtw-17 \expndtw-1 a\expndtw0 ssets\i0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li120\ri197\sl240\slmult1\f1\fs22 Art\expndtw-7 \expndtw0 and\expndtw-6 \expndtw0 cul\expndtw-1 t\expndtw0 ural\expndtw-6 \expndtw0 asse\expndtw-1 t\expndtw0 s\expndtw-6 \expndtw-2 (\expndtw0 artworks,\expndtw-6 \expndtw0 sculptures\expndtw-6 \expndtw0 and\expndtw-8 \expndtw0 statues)\expndtw-6 \expndtw0 are\expndtw-7 \expndtw0 valued\expndtw-6 \expndtw0 at\expndtw-6 \expndtw0 historical\expndtw-7 \expndtw0 cost.\expndtw-7 \expndtw0 Zoo animals\expndtw-8 \expndtw0 are\expndtw-7 \expndtw0 stated\expndtw-7 \expndtw0 at\expndtw-7 \expndtw0 es\expndtw-1 t\expndtw0 imated\expndtw-7 \expndtw0 replacement\expndtw-7 \expndtw0 cos\expndtw-1 t\expndtw0 .\expndtw-7 \expndtw0 All\expndtw-7 \expndtw0 other\expndtw-7 \expndtw0 r\expndtw-1 e\expndtw0 stricted\expndtw-7 \expndtw-1 a\expndtw0 ssets\expndtw-7 \expndtw0 (buildin\expndtw-1 g\expndtw0 s, parks\expndtw-5 \expndtw0 and\expndtw-4 \expndtw0 r\expndtw-1 e\expndtw0 serves\expndtw-5 \expndtw0 and\expndtw-4 \expndtw0 the\expndtw-4 \expndtw0 Town\expndtw-5 \expndtw0 Belt)\expndtw-4 \expndtw0 were\expndtw-4 \expndtw0 val\expndtw1 u\expndtw0 ed\expndtw-5 \expndtw0 at\expndtw-4 \expndtw0 fair\expndtw-4 \expndtw0 value\expndtw-5 \expndtw0 as\expndtw-4 \expndtw0 at\expndtw-5 \expndtw0 30\expndtw-5 \expndtw0 June\expndtw-4 \expndtw0 2005\expndtw-5 \expndtw-1 b\expndtw0 y independent\expndtw-7 \expndtw0 registered\expndtw-6 \expndtw0 valuers.\expndtw-6 \expndtw0 The\expndtw-6 \expndtw0 Council\expndtw-6 \expndtw0 has\expndtw-7 \expndtw0 elected\expndtw-6 \expndtw0 to\expndtw-5 \expndtw-1 u\expndtw0 se\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 fair\expndtw-6 \expndtw0 value\expndtw-6 \expndtw0 of\expndtw-5 \expndtw0 other restricted\expndtw-5 \expndtw-1 as\expndtw0 sets\expndtw-5 \expndtw0 at\expndtw-5 \expndtw0 30\expndtw-6 \expndtw0 June\expndtw-4 \expndtw0 2005\expndtw-5 \expndtw0 as\expndtw-5 \expndtw0 the\expndtw-5 \expndtw0 deemed\expndtw-5 \expndtw0 cost\expndtw-4 \expndtw0 of\expndtw-5 \expndtw0 the\expndtw-6 \expndtw0 assets.\expndtw-5 \expndtw0 Th\expndtw-1 e\expndtw0 se\expndtw-5 \expndtw0 asse\expndtw-1 t\expndtw0 s\expndtw-4 \expndtw0 a\expndtw-2 r\expndtw0 e\expndtw-5 \expndtw0 no longer\expndtw-8 \expndtw0 revalued.\expndtw-8 \expndtw0 Subsequent\expndtw-7 \expndtw0 additions\expndtw-8 \expndtw0 have\expndtw-7 \expndtw0 been\expndtw-8 \expndtw0 recorded\expndtw-8 \expndtw0 at\expndtw-8 \expndtw0 cost.\par
\pard\li120\sb79\sl240\slmult1\i Infrastructu\expndtw-2 r\expndtw0 e\expndtw-20 \expndtw0 assets\i0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
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\pard\li120\ri221\sl240\slmult1\f1\fs22 Infrastructu\expndtw-2 r\expndtw0 e\expndtw-6 \expndtw0 land\expndtw-5 \expndtw0 (excluding\expndtw-5 \expndtw0 land\expndtw-6 \expndtw-1 u\expndtw0 nder\expndtw-5 \expndtw0 roads)\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 valued\expndtw-5 \expndtw0 at\expndtw-6 \expndtw0 fair\expndtw-5 \expndtw0 value\expndtw-6 \expndtw0 on\expndtw-5 \expndtw0 a\expndtw-5 \expndtw0 regular\expndtw-6 \expndtw-1 b\expndtw0 asis\expndtw-5 \expndtw0 or, whenever\expndtw-7 \expndtw0 t\expndtw1 h\expndtw0 e\expndtw-7 \expndtw0 carrying\expndtw-7 \expndtw0 amount\expndtw-6 \expndtw0 differs\expndtw-7 \expndtw0 materially\expndtw-7 \expndtw0 to\expndtw-7 \expndtw0 fair\expndtw-6 \expndtw0 value.\par
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\pard\li100\ri120\sb77\sl240\slmult1 The\expndtw-7 \expndtw0 carrying\expndtw-7 \expndtw0 amounts\expndtw-7 \expndtw0 of\expndtw-7 \expndtw0 cash\expndtw-7 \expndtw0 gener\expndtw-1 a\expndtw0 ting\expndtw-7 \expndtw0 propert\expndtw-1 y\expndtw0 ,\expndtw-7 \expndtw0 plant\expndtw-7 \expndtw0 and\expndtw-6 \expndtw-1 e\expndtw0 quipment\expndtw-7 \expndtw0 assets\expndtw-7 \expndtw0 are\expndtw-7 \expndtw0 reviewed at\expndtw-6 \expndtw0 least\expndtw-5 \expndtw0 an\expndtw-1 n\expndtw0 ually\expndtw-5 \expndtw0 to\expndtw-5 \expndtw0 determine\expndtw-6 \expndtw0 if\expndtw-5 \expndtw0 there\expndtw-5 \expndtw0 is\expndtw-5 \expndtw0 any\expndtw-6 \expndtw0 indication\expndtw-5 \expndtw0 of\expndtw-5 \expndtw0 i\expndtw-2 m\expndtw0 pairment.\expndtw-5 \expndtw0 Where\expndtw-6 \expndtw0 an\expndtw-5 \expndtw0 asset\rquote s,\expndtw-5 \expndtw0 or class\expndtw-5 \expndtw0 of\expndtw-6 \expndtw0 assets\rquote ,\expndtw-5 \expndtw0 recove\expndtw-2 r\expndtw0 able\expndtw-5 \expndtw0 amount\expndtw-5 \expndtw0 is\expndtw-5 \expndtw0 less\expndtw-5 \expndtw0 than\expndtw-6 \expndtw0 its\expndtw-5 \expndtw0 carrying\expndtw-6 \expndtw0 amount\expndtw-5 \expndtw0 it\expndtw-5 \expndtw0 will\expndtw-5 \expndtw0 be\expndtw-5 \expndtw0 report\expndtw-1 e\expndtw0 d\expndtw-5 \expndtw0 at\expndtw-5 \expndtw0 its recoverable\expndtw-7 \expndtw0 amount\expndtw-7 \expndtw0 and\expndtw-7 \expndtw0 an\expndtw-6 \expndtw0 impairm\expndtw1 e\expndtw0 nt\expndtw-7 \expndtw0 loss\expndtw-7 \expndtw0 will\expndtw-7 \expndtw-1 b\expndtw0 e\expndtw-6 \expndtw0 recognis\expndtw-1 e\expndtw0 d.\expndtw-7 \expndtw0 The\expndtw-7 \expndtw0 recoverable\expndtw-7 \expndtw0 amount\expndtw-6 \expndtw0 is the\expndtw-5 \expndtw0 higher\expndtw-4 \expndtw0 of\expndtw-6 \expndtw0 an\expndtw-4 \expndtw0 item\rquote s\expndtw-5 \expndtw0 f\expndtw-1 a\expndtw0 ir\expndtw-4 \expndtw0 value\expndtw-5 \expndtw0 less\expndtw-5 \expndtw0 costs\expndtw-5 \expndtw0 to\expndtw-5 \expndtw0 sell\expndtw-6 \expndtw0 and\expndtw-4 \expndtw0 value\expndtw-5 \expndtw0 in\expndtw-4 \expndtw0 use.\expndtw-5 \expndtw0 Loss\expndtw-1 e\expndtw0 s\expndtw-4 \expndtw0 resulting\expndtw-6 \expndtw0 f\expndtw-2 r\expndtw0 om impairment\expndtw-5 \expndtw0 are\expndtw-6 \expndtw0 reported\expndtw-5 \expndtw0 within\expndtw-6 \expndtw0 surplus\expndtw-5 \expndtw0 or\expndtw-6 \expndtw0 deficit,\expndtw-6 \expndtw0 unless\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 asset\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 car\expndtw-2 r\expndtw0 ied\expndtw-5 \expndtw0 at\expndtw-6 \expndtw0 a\expndtw-5 \expndtw0 revalued amount\expndtw-6 \expndtw0 in\expndtw-6 \expndtw0 which\expndtw-5 \expndtw0 case\expndtw-6 \expndtw-1 a\expndtw0 ny\expndtw-6 \expndtw0 impairm\expndtw1 e\expndtw0 nt\expndtw-5 \expndtw0 loss\expndtw-6 \expndtw0 is\expndtw-5 \expndtw0 tr\expndtw-1 e\expndtw0 ated\expndtw-6 \expndtw0 as\expndtw-6 \expndtw0 a\expndtw-5 \expndtw0 r\expndtw-1 e\expndtw0 valuation\expndtw-6 \expndtw0 decrease\expndtw-6 \expndtw0 and recorded\expndtw-10 \expndtw0 within\expndtw-9 \expndtw0 other\expndtw-9 \expndtw0 c\expndtw-1 o\expndtw0 mprehensive\expndtw-9 \expndtw0 revenue\expndtw-9 \expndtw0 and\expndtw-9 \expndtw0 expense.\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li100\ri188\sl240\slmult1\f1\fs22 The\expndtw-8 \expndtw0 carrying\expndtw-7 \expndtw0 amounts\expndtw-7 \expndtw0 of\expndtw-7 \expndtw0 non-cash\expndtw-7 \expndtw0 g\expndtw-1 e\expndtw0 nerating\expndtw-7 \expndtw0 pr\expndtw-1 o\expndtw0 perty,\expndtw-7 \expndtw0 plant\expndtw-7 \expndtw0 and\expndtw-8 \expndtw0 equipment\expndtw-7 \expndtw0 assets\expndtw-7 \expndtw-1 a\expndtw0 re reviewed\expndtw-6 \expndtw0 at\expndtw-6 \expndtw0 least\expndtw-5 \expndtw0 annually\expndtw-6 \expndtw0 to\expndtw-5 \expndtw0 determine\expndtw-6 \expndtw0 if\expndtw-5 \expndtw0 there\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 any\expndtw-5 \expndtw0 indication\expndtw-6 \expndtw0 of\expndtw-5 \expndtw0 impairment.\expndtw-6 \expndtw0 Where\expndtw-5 \expndtw0 an asset\rquote s,\expndtw-7 \expndtw0 or\expndtw-5 \expndtw0 c\expndtw-1 l\expndtw0 ass\expndtw-6 \expndtw0 of\expndtw-5 \expndtw0 asse\expndtw-1 t\expndtw0 s\rquote ,\expndtw-5 \expndtw0 recoverable\expndtw-6 \expndtw0 ser\expndtw-1 v\expndtw0 ice\expndtw-6 \expndtw0 amount\expndtw-5 \expndtw0 is\expndtw-6 \expndtw0 l\expndtw-1 e\expndtw0 ss\expndtw-5 \expndtw0 than\expndtw-6 \expndtw0 i\expndtw-1 t\expndtw0 s\expndtw-5 \expndtw0 carrying\expndtw-5 \expndtw0 am\expndtw1 o\expndtw0 unt\expndtw-6 \expndtw0 it\expndtw-5 \expndtw0 will be\expndtw-6 \expndtw0 reported\expndtw-7 \expndtw0 at\expndtw-6 \expndtw0 its\expndtw-6 \expndtw0 recov\expndtw-1 e\expndtw0 rable\expndtw-6 \expndtw0 service\expndtw-6 \expndtw0 a\expndtw-1 m\expndtw0 ount\expndtw-6 \expndtw0 and\expndtw-6 \expndtw0 an\expndtw-6 \expndtw0 impairment\expndtw-6 \expndtw0 loss\expndtw-6 \expndtw0 will\expndtw-6 \expndtw0 be\expndtw-6 \expndtw0 recogn\expndtw-1 i\expndtw0 sed. The\expndtw-5 \expndtw0 recoverable\expndtw-5 \expndtw0 service\expndtw-6 \expndtw0 amount\expndtw-5 \expndtw0 is\expndtw-4 \expndtw0 the\expndtw-5 \expndtw0 higher\expndtw-5 \expndtw0 of\expndtw-6 \expndtw0 an\expndtw-5 \expndtw0 item\rquote s\expndtw-4 \expndtw0 fair\expndtw-5 \expndtw0 value\expndtw-5 \expndtw0 less\expndtw-6 \expndtw0 costs\expndtw-5 \expndtw0 to\expndtw-5 \expndtw0 sell\expndtw-6 \expndtw0 and value\expndtw-5 \expndtw0 in\expndtw-5 \expndtw0 us\expndtw-1 e\expndtw0 .\expndtw-5 \expndtw0 A\expndtw-5 \expndtw0 non-cash\expndtw-5 \expndtw0 generating\expndtw-6 \expndtw0 asset\rquote s\expndtw-5 \expndtw0 value\expndtw-5 \expndtw0 in\expndtw-5 \expndtw0 use\expndtw-4 \expndtw0 is\expndtw-5 \expndtw-1 t\expndtw0 he\expndtw-5 \expndtw0 present\expndtw-5 \expndtw0 value\expndtw-5 \expndtw0 of\expndtw-5 \expndtw0 the\expndtw-5 \expndtw-1 a\expndtw0 sset\rquote s remaining\expndtw-8 \expndtw0 service\expndtw-7 \expndtw0 potential.\expndtw-8 \expndtw0 Losses\expndtw-8 \expndtw0 resulting\expndtw-8 \expndtw0 fr\expndtw-1 o\expndtw0 m\expndtw-8 \expndtw0 impairm\expndtw1 e\expndtw0 nt\expndtw-8 \expndtw0 are\expndtw-7 \expndtw0 reported\expndtw-8 \expndtw0 within\expndtw-7 \expndtw0 s\expndtw-1 u\expndtw0 rplus\expndtw-8 \expndtw0 or deficit,\expndtw-5 \expndtw0 u\expndtw-1 n\expndtw0 less\expndtw-6 \expndtw0 the\expndtw-5 \expndtw0 asset\expndtw-5 \expndtw0 is\expndtw-5 \expndtw0 carried\expndtw-5 \expndtw0 at\expndtw-6 \expndtw0 a\expndtw-5 \expndtw0 revalued\expndtw-5 \expndtw0 amount\expndtw-5 \expndtw0 in\expndtw-5 \expndtw0 which\expndtw-6 \expndtw0 case\expndtw-5 \expndtw0 any\expndtw-5 \expndtw0 impairment\expndtw-5 \expndtw0 loss\expndtw-5 \expndtw0 is treated\expndtw-8 \expndtw0 as\expndtw-7 \expndtw0 a\expndtw-8 \expndtw0 revaluation\expndtw-7 \expndtw0 decrease\expndtw-8 \expndtw0 a\expndtw-1 n\expndtw0 d\expndtw-7 \expndtw0 recorded\expndtw-8 \expndtw0 within\expndtw-7 \expndtw0 other\expndtw-9 \expndtw0 comprehensive\expndtw-7 \expndtw0 revenue\expndtw-6 \expndtw0 and expense.\par
\pard\sb7\sl-100\slmult0\f0\fs10\par
\pard\sl-200\slmult0\fs20\par
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\pard\s2\li100\sl240\slmult1\b\f1\fs22 Disposal\b0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li100\ri241\sl228\slmult1\f1\fs22 Gains\expndtw-7 \expndtw0 and\expndtw-6 \expndtw0 losses\expndtw-6 \expndtw0 arisi\expndtw-1 n\expndtw0 g\expndtw-6 \expndtw0 from\expndtw-7 \expndtw0 the\expndtw-6 \expndtw0 disposal\expndtw-6 \expndtw0 of\expndtw-6 \expndtw0 p\expndtw-2 r\expndtw0 operty,\expndtw-6 \expndtw0 plant\expndtw-7 \expndtw0 and\expndtw-6 \expndtw0 equipment\expndtw-6 \expndtw0 are\expndtw-6 \expndtw0 rec\expndtw-1 o\expndtw0 gnised within\expndtw-6 \expndtw0 surpl\expndtw-1 u\expndtw0 s\expndtw-5 \expndtw0 or\expndtw-6 \expndtw0 deficit\expndtw-5 \expndtw0 in\expndtw-6 \expndtw0 the\expndtw-5 \expndtw0 period\expndtw-7 \expndtw0 in\expndtw-5 \expndtw0 which\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 transaction\expndtw-7 \expndtw0 occurs.\expndtw-5 \expndtw0 Any\expndtw-6 \expndtw0 balance attributable\expndtw-7 \expndtw-1 t\expndtw0 o\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 disposed\expndtw-6 \expndtw0 asset\expndtw-6 \expndtw0 in\expndtw-6 \expndtw-1 t\expndtw0 he\expndtw-7 \expndtw0 asset\expndtw-6 \expndtw0 revaluation\expndtw-6 \expndtw0 reserve\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 transferred\expndtw-6 \expndtw0 to\expndtw-6 \expndtw0 retained earnings.\par
\pard\sb15\sl-240\slmult0\f0\fs24\par
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\pard\li100\ri366\sl240\slmult1\f1\fs22 The\expndtw-6 \expndtw0 cost\expndtw-5 \expndtw0 of\expndtw-6 \expndtw0 projects\expndtw-5 \expndtw0 wit\expndtw-1 h\expndtw0 in\expndtw-6 \expndtw0 work\expndtw-5 \expndtw0 in\expndtw-5 \expndtw0 p\expndtw-2 r\expndtw0 ogress\expndtw-5 \expndtw0 is\expndtw-6 \expndtw0 tr\expndtw-1 a\expndtw0 nsferred\expndtw-6 \expndtw0 to\expndtw-5 \expndtw-1 t\expndtw0 he\expndtw-5 \expndtw0 relevant\expndtw-5 \expndtw0 asset\expndtw-6 \expndtw0 class\expndtw-6 \expndtw0 when the\expndtw-7 \expndtw0 project\expndtw-7 \expndtw0 is\expndtw-7 \expndtw0 completed\expndtw-8 \expndtw0 and\expndtw-7 \expndtw0 then\expndtw-7 \expndtw0 d\expndtw-1 e\expndtw0 preciated.\par
\pard\sb14\sl-240\slmult0\f0\fs24\par
\pard\s2\li100\sl240\slmult1\b\f1\fs22 Depreciation\b0\par
\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li100\ri250\sl240\slmult1\f1\fs22 Depreciati\expndtw-1 o\expndtw0 n\expndtw-7 \expndtw0 is\expndtw-7 \expndtw0 provid\expndtw-1 e\expndtw0 d\expndtw-7 \expndtw0 on\expndtw-6 \expndtw0 all\expndtw-7 \expndtw0 pro\expndtw-1 p\expndtw0 erty,\expndtw-7 \expndtw0 plant\expndtw-6 \expndtw0 and\expndtw-7 \expndtw0 equipment,\expndtw-7 \expndtw0 with\expndtw-7 \expndtw0 cer\expndtw-1 t\expndtw0 ain\expndtw-6 \expndtw0 excepti\expndtw-1 o\expndtw0 ns.\expndtw-7 \expndtw0 The exceptions\expndtw-9 \expndtw0 are\expndtw-7 \expndtw0 land,\expndtw-7 \expndtw0 restricted\expndtw-8 \expndtw0 asse\expndtw-1 t\expndtw0 s\expndtw-7 \expndtw0 other\expndtw-7 \expndtw0 than\expndtw-8 \expndtw0 buildings,\expndtw-9 \expndtw-1 a\expndtw0 nd\expndtw-7 \expndtw0 assets\expndtw-7 \expndtw-1 u\expndtw0 nder\expndtw-7 \expndtw0 constr\expndtw-1 u\expndtw0 ction (work\expndtw-6 \expndtw0 in\expndtw-6 \expndtw0 progress).\expndtw-6 \expndtw0 Depreciation\expndtw-5 \expndtw0 is\expndtw-6 \expndtw0 calculated\expndtw-6 \expndtw0 on\expndtw-7 \expndtw0 a\expndtw-5 \expndtw0 straight-line\expndtw-6 \expndtw0 basis,\expndtw-6 \expndtw0 to\expndtw-6 \expndtw0 allocate\expndtw-6 \expndtw0 the\expndtw-7 \expndtw0 cost\expndtw-6 \expndtw0 or value\expndtw-6 \expndtw0 of\expndtw-5 \expndtw0 the\expndtw-6 \expndtw0 asset\expndtw-5 \expndtw0 (less\expndtw-6 \expndtw0 any\expndtw-6 \expndtw0 assess\expndtw-1 e\expndtw0 d\expndtw-5 \expndtw0 residual\expndtw-6 \expndtw-2 v\expndtw0 alue)\expndtw-5 \expndtw0 over\expndtw-6 \expndtw0 its\expndtw-5 \expndtw0 estimated\expndtw-6 \expndtw0 useful\expndtw-6 \expndtw0 li\expndtw-1 f\expndtw0 e.\expndtw-5 \expndtw-1 T\expndtw0 he estimated\expndtw-7 \expndtw0 useful\expndtw-6 \expndtw0 lives\expndtw-6 \expndtw-1 a\expndtw0 nd\expndtw-6 \expndtw0 deprecia\expndtw-1 t\expndtw0 ion\expndtw-6 \expndtw0 rate\expndtw-6 \expndtw0 ra\expndtw-1 n\expndtw0 ges\expndtw-6 \expndtw0 of\expndtw-6 \expndtw0 the\expndtw-6 \expndtw0 major\expndtw-6 \expndtw0 classes\expndtw-7 \expndtw0 of\expndtw-6 \expndtw0 property,\expndtw-6 \expndtw0 plant and\expndtw-7 \expndtw0 equipment\expndtw-7 \expndtw0 are\expndtw-7 \expndtw0 as\expndtw-6 \expndtw0 f\expndtw-1 o\expndtw0 llows:\par
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\pard\intbl\sl-200\slmult0\fs20\par
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\clbrdrl\brdrw15\brdrs\brdrcf2\clbrdrt\brdrw16\brdrs\brdrcf4\clbrdrb\brdrw16\brdrs\brdrcf4 \cellx6007\clvmrg\clcbpat5\cellx7572\clvmrg\clcbpat5\clbrdrr\brdrw15\brdrs\brdrcf2 \cellx9131\pard\intbl\li297\sb38\sl240\slmult1\expndtw-5\f1\fs17 Lan\expndtw0 d\expndtw-7 \expndtw-6 (\expndtw1 i\expndtw-5 n\expndtw6 c\expndtw1 l\expndtw-5 ud\expndtw1 i\expndtw-5 n\expndtw0 g\expndtw-7 \expndtw1 l\expndtw-5 an\expndtw0 d\expndtw-5 unde\expndtw0 r\expndtw-8 \expndtw-6 r\expndtw-5 oa\expndtw-3 d\expndtw6 s\expndtw0 )\f0\fs24\cell\cell\cell\row\trowd\trgaph10\trleft119\trrh-285\trpaddl10\trpaddr10\trpaddfl3\trpaddfr3
\clbrdrl\brdrw15\brdrs\brdrcf2\clbrdrt\brdrw16\brdrs\brdrcf4\clbrdrb\brdrw15\brdrs\brdrcf4 \cellx6007\clcbpat5\cellx7572\clcbpat5\clbrdrr\brdrw15\brdrs\brdrcf2 \cellx9131\pard\intbl\li297\sb39\sl240\slmult1\expndtw-7\f1\fs17 R\expndtw-5 o\expndtw-3 a\expndtw-5 d\expndtw0 i\expndtw-5 ng\expndtw0\f0\fs24\cell\pard\intbl\li516\sb47\sl240\slmult1\f1\fs17 2\expndtw-3 \expndtw0 -\expndtw-3 \expndtw-5 266\expndtw0\f0\fs24\cell\pard\intbl\li359\sb47\sl240\slmult1\expndtw-5\f1\fs17 0\expndtw5 .\expndtw-5 3\expndtw0 8\expndtw-4 \expndtw0 -\expndtw-5 50%\expndtw0\f0\fs24\cell\row\trowd\trgaph10\trleft119\trrh-285\trpaddl10\trpaddr10\trpaddfl3\trpaddfr3
\clbrdrl\brdrw15\brdrs\brdrcf2\clbrdrt\brdrw15\brdrs\brdrcf4\clbrdrb\brdrw15\brdrs\brdrcf2 \cellx6007\clcbpat5\clbrdrb\brdrw15\brdrs\brdrcf2 \cellx7572\clcbpat5\clbrdrr\brdrw15\brdrs\brdrcf2\clbrdrb\brdrw15\brdrs\brdrcf2 \cellx9131\pard\intbl\li297\sb39\sl240\slmult1\expndtw-7\f1\fs17 D\expndtw-5 ra\expndtw1 i\expndtw-5 nage\expndtw0 , \expndtw-6 w\expndtw-5 a\expndtw6 s\expndtw5 t\expndtw0 e\expndtw-7 \expndtw-5 an\expndtw0 d\expndtw-5 \expndtw-7 w\expndtw-5 a\expndtw5 t\expndtw-5 er\expndtw0\f0\fs24\cell\pard\intbl\li515\sb47\sl240\slmult1\f1\fs17 7\expndtw-3 \expndtw0 -\expndtw-3 \expndtw-5 402\expndtw0\f0\fs24\cell\pard\intbl\li236\sb47\sl240\slmult1\expndtw-3\f1\fs17 1\expndtw5 .\expndtw-5 7\expndtw0 4\expndtw-6 \expndtw0 -\expndtw-6 \expndtw-5 14\expndtw6 .\expndtw-5 29%\expndtw0\f0\fs24\cell\row\pard\sb8\sl-170\slmult0\fs17\par
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\pard\sb18\sl-240\slmult0\f0\fs24\par
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\pard\sb12\sl-240\slmult0\f0\fs24\par
\pard\li120\ri124\sl240\slmult1\f1\fs22 Computer\expndtw-6 \expndtw1 s\expndtw0 oftware\expndtw-6 \expndtw0 has\expndtw-6 \expndtw0 a\expndtw-6 \expndtw0 finite\expndtw-6 \expndtw0 eco\expndtw-1 n\expndtw0 omic\expndtw-5 \expndtw0 life\expndtw-6 \expndtw0 a\expndtw-1 n\expndtw0 d\expndtw-6 \expndtw0 amortisation\expndtw-6 \expndtw0 is\expndtw-6 \expndtw0 charg\expndtw-1 e\expndtw0 d\expndtw-6 \expndtw0 to\expndtw-5 \expndtw0 surplus\expndtw-7 \expndtw0 or\expndtw-6 \expndtw0 deficit on\expndtw-6 \expndtw0 a\expndtw-6 \expndtw0 straigh\expndtw-1 t\expndtw0 -line\expndtw-5 \expndtw0 basis\expndtw-6 \expndtw-1 ov\expndtw0 er\expndtw-5 \expndtw0 the\expndtw-6 \expndtw0 estimated\expndtw-6 \expndtw0 useful\expndtw-5 \expndtw0 life\expndtw-6 \expndtw0 of\expndtw-5 \expndtw0 the\expndtw-6 \expndtw-1 a\expndtw0 sset.\expndtw-6 \expndtw0 Typically,\expndtw-5 \expndtw0 the\expndtw-6 \expndtw0 estimated useful\expndtw-6 \expndtw0 lives\expndtw-7 \expndtw0 and\expndtw-5 \expndtw0 depreciation\expndtw-6 \expndtw0 rate\expndtw-6 \expndtw0 r\expndtw-1 a\expndtw0 nge\expndtw-5 \expndtw0 of\expndtw-6 \expndtw0 these\expndtw-6 \expndtw0 assets\expndtw-6 \expndtw0 are\expndtw-7 \expndtw0 as\expndtw-5 \expndtw0 follows:\par
\pard\sb15\sl-240\slmult0\f0\fs24\par
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}