City of Melbourne Annual Report 2015-16


Note 28. Interest-bearing loans and borrowing



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Note 28. Interest-bearing loans and borrowing

Item


Consolidated

2016

$'000

Consolidated

2015

$'000

Council

2016

$'000

Council

2015

$'000

Non-current

N/A

N/A

N/A

N/A

Borrowing

30,000

0

30,000

0

Total

30,000

0

30,000

0

Maturity profile for borrowing is:

N/A

N/A

N/A


N/A

Later than one year and not later than five years

30,000

0

30,000

0

Term borrowing consists of $30 million 5 year fixed term loan with Clean Energy Finance Corporation, secured by a charge over general rates levied by Council.

Equity

Note 29. Reserves


Item

Consolidated

2016

$'000

Consolidated

2015

$'000

Council

2016

$'000

Council

2015

$'000

Asset revaluation - property and infrastructure

1,977,706


1,735,446

1,962,180

1,731,409

Other Reserves

N/A

N/A

N/A

N/A

Restricted

N/A

N/A

N/A

N/A

Reserve for public open space

23,091

18,671

23,091

18,671

Non-Restricted

N/A

N/A

N/A

N/A

Investments revaluation reserve

4,225

4,225

4,225

4,225

Tree Compensation Reserve

2,249


1,704

2,249

1,704

Queen Victoria Market Renewal Project Reserve

9,273

0

9,273

0

Total

2,016,544

1,760,046

2,001,018

1,756,009

  1. Movement in Reserves – Asset revaluation reserve

Consolidated

Balance at

beginning

of 2015

$’000

Increment

(Decrement)

$’000

Transfer

to Accum

Surplus

$’000


Balance

at end

of 2015

$’000

Increment

(Decrement)

$’000

Transfer

to Accum

Surplus

$’000

Balance

at end

of 2016

$’000

Property

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Land

1,047,612

11,493

0

1,059,105

200,018

0

1,259,123

Buildings

73,600

(2,783)

0

70,817


26,130

0

96,947

Infrastructure

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Roads

321,585

55,718

0

377,303

13,676

0

390,979

Bridges

14,251

2,141

0

16,392

(1,090)

0

15,302

Footpaths and cycleways

109,509

(9,372)

0

100,137

2,162

0


102,299

Drainage

32,703

959

0

33,662

(2,419)

0

31,243

Recreational, leisure and community facilities

0

34

0

34

(130)

0

(96)

Parks, open space and streetscapes

9,027

(4,613)

0

4,414

(1,691)

0

2,723

Other infrastructure

59,606

8,366

0

67,972


5,604

0

73,576

Artworks

5,610

0

0

5,610

0

0

5,610

Total

1,673,503

61,943

0

1,735,446

242,260

0

1,977,706

Council

Council

Balance at

beginning

Of 2015

$’000

Increment

(Decrement)

$’000

Transfer


To Accum

Surplus

$’000


Balance

At end

Of 2015

$’000

Increment

(Decrement)

$’000

Transfer

to Accum

Surplus

$’000

Balance

At end

Of 2016

$’000

Property

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Land

1,043,575

11,493

0

1,055,068

188,528

0

1,243,596

Buildings

73,600

(2,783)


0

70,817

26,130

0

96,947

Infrastructure

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Roads & Laneways

321,585

55,718

0

377,303

13,676

0

390,979

Bridges

14,251

2,141

0

16,392

(1,089)

0

15,303

Footpaths and cycleways

109,509

(9,372)

0


100,137

2,162

0

102,299

Drainage

32,703

959

0

33,662

(2,419)

0

31,243

Recreational, leisure and community facilities

2,188

34

0

2,222

(130)

0

2,092

Parks, open space and streetscapes

9,027

(4,613)

0

4,414

(1,691)

0

2,723

Other infrastructure

57,418

8,366


0

65,784

5,604

0

71,388

Artworks

5,610

0

0

5,610

0

0

5,610

Total

1,669,466

61,943

0

1,731,409

230,771

0

1,962,180

Summary of movements in asset revaluation

Item

Consolidated

2016

$'000

Consolidated

2015


$'000


Council

2016

$'000

Council

2015

$'000

Asset revaluation - property and infrastructure

N/A

N/A

N/A

N/A

Balance at the beginning of the year

1,735,446

1,673,503

1,731,409

1,669,466

Increment

242,260

61,943

230,771

61,943

Balance at the end of the financial year

1,977,706

1,735,446


1,962,180

1,731,409

Summary of movements in other reserves

Item

Consolidated

2016


$'000

Consolidated

2015


$'000

Council

2016


$'000

Council

2015


$'000

Balance at the beginning of the year

24,600

19,397

24,600

19,397

Transfers from accumulated surplus

25,972

13,286

25,972

13,286

Transfers to accumulated surplus


(11,734)

(8,083)

(11,734)

(8,083)

Balance at the end of the financial year

38,838

24,600

38,838

24,600

  1. Movement in Reserves – Investments Revaluation Reserve - Regent Management Pty Ltd

    Item

    Consolidated

    2016

    $'000

    Consolidated

    2015

    $'000

    Council

    2016

    $'000

    Council

    2015

    $'000

    Balance at the beginning of the year


    4,225

    4,649

    4,225

    4,649

    Transfers from investment-non current asset

    0

    0

    N/A

    0

    Transfers to investment-non current asset

    0

    (424)

    0

    (424)

    Balance at the end of the financial year

    4,225

    4,225

    4,225

    4,225

  2. Movement in Reserves – Reserve for Public Open Space

    Item

    Consolidated

    2016

    $'000


    Consolidated

    2015

    $'000

    Council

    2016

    $'000

    Council

    2015

    $'000

    Balance at the beginning of the year

    18,671

    13,906

    18,671

    13,906

    Transfers from accumulated surplus

    9,615

    12,424

    9,615

    12,424

    Transfers to accumulated surplus

    (5,195)

    (7,659)

    (5,195)

    (7,659)

    Balance at the end of the financial year

    23,091


    18,671

    23,091

    18,671

  3. Movement in Reserves – Tree Compensation reserve

    Item

    Consolidated

    2016

    $'000

    Consolidated

    2015

    $'000

    Council

    2016

    $'000

    Council

    2015

    $'000

    Balance at the beginning of the year

    1,704

    842

    1,704

    842

    Transfers from accumulated surplus

    545

    862


    545

    862

    Balance at the end of the financial year

    2,249

    1,704

    2,249

    1,704

  4. Movement in Reserves – Queen Victoria Market Renewal Project reserve

Item

Consolidated

2016

Consolidated

2015

$'000

Council

2016

$'000

Council

2015

$'000

Balance at the beginning of the year

0

0

0

0

Transfers from accumulated surplus


15,812

0

15,812

0

Transfers to accumulated surplus

(6,539)

0

(6,539)

0

Balance at the end of the financial year

9,273

0

9,273

0

Queen Victoria Market renewal reserve has be established to facilitate a major redevelopment of the Queen Victoria Market site.


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