Territory Stories

Annual Report 2004/2005 Northern Territory Treasury (includes Community Benefit Committee)

Details:

Title

Annual Report 2004/2005 Northern Territory Treasury (includes Community Benefit Committee)

Other title

Tabled paper 256

Collection

Tabled papers for 10th Assembly 2005 - 2008; Tabled papers; ParliamentNT

Date

2005-10-19

Description

Deemed

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Series/C1968A00063

Parent handle

https://hdl.handle.net/10070/282646

Citation address

https://hdl.handle.net/10070/412889

Page content

2004-05 Treasurers Annual Financial Report Notes to Financial Statements 57 Note 16: Land and Fixed Assets At valuation (a) Accumulated depreciation Written down value Total Public Sector 2004-05 2003-04 2004-05 2003-04 2004-05 2003-04 $000 $000 $000 $000 $000 $000 Land 429 208 422 614 429 208 422 614 Buildings 3 677 912 3 404 786 925 863 876 890 2 752 049 2 527 896 Infrastructure assets (b ) 2 818 076 2 749 013 1 451 521 1 375 205 1 366 555 1 373 809 Construction works in progress 242 513 192 286 242 513 192 286 Plant and equipment 1 792 092 1 698 383 811 201 769 446 980 891 928 936 Property, Plant and equipment under fi nance lease 152 781 142 927 134 808 130 870 17 973 12 056 Cultural assets 2 981 2 186 285 270 2 696 1 916 Self generating and regenerating assets 22 168 22 168 Investment properties 48 034 38 150 48 034 38 150 Intangibles (c) 54 478 53 191 39 542 32 300 14 936 20 891 Inventories 15 343 16 236 15 343 16 236 Total 9 233 440 8 719 939 3 363 220 3 184 981 5 870 220 5 534 958 (a) For further information on valuation methods, refer Note 1. (b) The full value of the AustralAsia Railway Corporation (AARC) is consolidated under the general government sector. As at 30 June 2005, the fi nancial statements of the AARC showed net assets of $423 million ($426 million as at 30 June 2004). As at 30 June 2005, the Territory has a 57 per cent interest ($241 million) in the AARC based on the proportion of contributions made. Following completion of the railway, the Government works totalling $427.5 million, were classifi ed as infrastructure assets. During the 50-year concession period the rights and obligations for the new rail corridor continue to rest with the AARC and the Territory as they have freehold title over large portions of the rail corridor and hold long term head leases over the remaining portions tracking through Aboriginal land. Hence, ultimate control over the corridor rests with the AARC including the rail assets contained within. As such, no provision for the resulting diminution in the value of the Territorys investment in the AARC has been made in these fi nancial statements. At the expiration of the 50-year concession period the complete railway infrastructure (including the Government works) will be transferred back to the AARC. However, due to the subjectivity involved with any measurement of the future value of the asset after the expiry of the concession period, it is not considered practical at this point to recognise any further assets in the accounts of the AARC or in these fi nancial statements. (c) The intangibles balance consists largely of deferred development expenditure incurred by Gasgo Pty Ltd, a subsidiary of the Power and Water Corporation.


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