City of Melbourne Annual Report 2015-16



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Note 14. Borrowing costs

Item


Consolidated

2016


$'000

Consolidated

2015


$'000

Council

2016


$'000

Council

2015


$'000

Interest - Borrowings

927

164

897

0

Total

927

164

897

0

Note 15. Other expenses


Item

Consolidated

2016


$'000

Consolidated

2015


$'000

Council

2016


$'000

Council

2015


$'000

Auditors' remuneration-VAGO-audit of the financial statements

252

229

149

129

Audit services - external other

33

32

33

32

Audit services - internal

459

450

202

196

Fire brigade levy

176

105

176

105


Taxes and levies

2,920

2,197

1,532

885

Operating lease rental

4,551

4,301

1,727

1,639

Finance Costs

927

164

897

0

Other costs

1,665

1,867

1,381

1,683

Total

10,983

9,345

6,097

4,669

Assets

Note 16. Cash and cash equivalents


Item

Consolidated

2016


$'000

Consolidated

2015


$'000

Council

2016


$'000

Council

2015


$'000

Cash on hand

71

76

41

37

Cash at bank

43,569

88,378

36,069

81,783

Term deposits

44,700

22,018

47,000


19,699

Cash and cash equivalents

88,340

110,472

83,110

101,519

Council held cash at bank of $76 million, as at 30 June 2015 in order to make final payment on the Munro Site.

Restricted funds

Council has cash and cash equivalents that are subject to external restrictions that limit amounts available for discretionary use. These include:



Item

Consolidated

2016


$'000

Consolidated

2015


$'000

Note

Council

2016


$'000

Council

2015


$'000

Trust funds and deposits

9,112


8,526

26

6,718

6,111

Reserve funds (Public Open Space)

23,091

18,671

29

23,091

18,671

Total restricted funds

32,203

27,197

N/A 

29,809

24,782

Total unrestricted cash and cash equivalents

56,137

83,275

N/A 

53,301

76,737

Intended allocations

Although not externally restricted the following amounts have been allocated for specific future purposes by Council:

Item


Consolidated

2016


$'000

Consolidated

2015


$'000

Council

2016


$'000

Council

2015


$'000

Cash held to fund carried forward capital works

26,442

27,417

26,442

27,417

Total funds subject to intended allocations

26,442

27,417

26,442

27,417


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