BUDGET BUDGET BUDGET $ $ $ Governance CEO Vehicle 48,500 50,000 1,500 Recreation & Culture Gardener Truck 25,000 20,000 (5,000) Gardener Vehicle 21,000 19,000 (2,000) Transport Aerodrome Hanger 252,705 360,000 107,295 Loader 50,000 50,000 0 Grader 44,000 40,000 (4,000) Building Building Officer Vehicle 23,000 22,000 (1,000) Other Property & Services Works Supervisor Vehicle 16,000 17,000 1,000 Engineering Vehicle 30,000 24,000 (6,000) 510,205 602,000 91,795 Net Book Value Proceeds Profit(Loss) By Class 201Z 201Z 201Z BUDGET BUDGET BUDGET $ $ $ Land & Buildings 252,705 360,000 107,295 Furniture & Equipment 0 0 0 Motor Vehicles 138,500 132,000 (6,500) Plant & Machinery 119,000 110,000 (9,000) 510,205 602,000 91,795 201Z Summary BUDGET $ Profit on Asset Disposals 109,795 Loss on Asset Disposals (18,000) 91,795 Commentary Information on Borrowings Note 5 – DLGC Long term borrowings are split into current and non-current portion. If a council expects to refinance or roll over a loan for at least 12 months it classifies the loan as non-current. When refinancing or rolling over the loan is not at the discretion of the council and the potential to refinance is not considered then loan is classified as current. This disclosure has more detail that is required but it provides useful information which is consistent with Annual Financial Report. Self-Supporting Loans should be stated giving details of how the loan is funded. FMR r. 29(f) The Regulation requires detail on how the repayments are to be financed. In this example this detail is shown in the report but it could be show by way of a
BUDGET BUDGET BUDGET $ $ $ Governance CEO Vehicle 48,500 50,000 1,500 Recreation & Culture Gardener Truck 25,000 20,000 (5,000) Gardener Vehicle 21,000 19,000 (2,000) Transport Aerodrome Hanger 252,705 360,000 107,295 Loader 50,000 50,000 0 Grader 44,000 40,000 (4,000) Building Building Officer Vehicle 23,000 22,000 (1,000) Other Property & Services Works Supervisor Vehicle 16,000 17,000 1,000 Engineering Vehicle 30,000 24,000 (6,000) 510,205 602,000 91,795 Net Book Value Proceeds Profit(Loss) By Class 201Z 201Z 201Z BUDGET BUDGET BUDGET $ $ $ Land & Buildings 252,705 360,000 107,295 Furniture & Equipment 0 0 0 Motor Vehicles 138,500 132,000 (6,500) Plant & Machinery 119,000 110,000 (9,000) 510,205 602,000 91,795 201Z Summary BUDGET $ Profit on Asset Disposals 109,795 Loss on Asset Disposals (18,000) 91,795 Note 5 Commentary – Information on Borrowings DLGC Long term borrowings are split into current and non-current portion. If a council expects to refinance or roll over a loan for at least 12 months it classifies the loan as non-current. When refinancing or rolling over the loan is not at the discretion of the council and the potential to refinance is not considered then loan is classified as current. This disclosure has more detail that is required but it provides useful information which is consistent with Annual Financial Report. Self-Supporting Loans should be stated giving details of how the loan is funded. FMR r. 29(f) The Regulation requires detail on how the repayments are to be financed. In this example this detail is shown in the report but it could be show by way of a
WAAccountingManual_Section4_Part2.docx