The University of Waikato - Te Whare Wananga o WaikatoThe University of Waikato - Te Whare Wananga o Waikato

2006 Annual Report

   
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Notes to the Financial Statements 

Note 6: Property, Plant and Equipment

Consolidated
This Year Cost
$000
Valuation
$000
Accumulated
Depreciation
$000
Net
$000
  Depreciation
for Year
$000
Land   - 1,320 - 1,320   -
Infrastructural Assets - 9,533 - 9,533   364
Buildings - 239,036 - 239,036   6,376
Leasehold Building Improvements 3,194 - 2,417 777   104
Library Collection 44,613 - 22,640 21,974   1,812
Teaching & Research Equipment 73,955 - 56,975 16,980   4,507
Software   10,823 - 4,709 6,114   1,363
Other   3,738 - 1,807 1,931   349
Work in Progress 4,432 - - 4,432   -
Total   140,755 249,889 88,548 302,097   14,875


Last Year
Land
  - 1,140 - 1,140   -
Infrastructural Assets 416 9,231 359 9,288   354
Buildings 4,748 179,242 6,113 177,877   6,115
Leasehold Building Improvements 3,124 - 2,313 811   233
Library Collection 41,616 - 20,827 20,789   1,755
Teaching & Research Equipment 70,262 - 53,127 17,135   4,064
Software   10,236 - 3,345 6,891   1,013
Other   3,471 - 1,631 1,840   333
Work in Progress 6,916 - - 6,916   -
Total   140,789 189,613 87,715 242,687   13,867

Other Assets are made up as follows: This Year
$000
Last Year
$000
Art Collection 287   279
Administration, Plant and Furniture 214   203
Motor Vehicles 3,237   2,989
Total 3,738   3,471

The $87,000 (2005-$62,000) difference between the Property, Plant and Equipment represented in the Statement of Financial Position for the University as compared to the value under Consolidated is the Property, Plant and Equipment held by The University of Waikato Foundation of $4,000 (2005-$4,000) and WaikatoLink Limited of $83,000 (2005-$58,000).

Land and Buildings were revalued as at 31 December 2006 by Attewell Gerbich Havill Limited in conjunction with DTZ New Zealand (Registered Valuers), on a fair value basis. The value of land and non specialised buildings was determined using market based evidence. All other buildings were valued at Optimised Depreciated Replacement Cost.

Infrastructural Assets were revalued as at 31 December 2006 by Opus International Consultants Limited on a fair value basis using the Optimised Depreciated Replacement Cost method.

The valuation of buildings held under finance lease as at 31 December 2006 is $2,001,631 (2005 $Nil).



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