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

2008 Annual Report

   
LEARNINGRESEARCHLIBRARYENROLMENTNEWSABOUT USCONTACT US
To The University of Waikato Homepage Waikato Home > Annual Report
Site Index | Text Only
Waikcookie logout image

Notes to the Financial Statements 

Note 16: Property, Plant and Equipment

This Year Consolidated Cost/ Revaluation 1 Jan 08 Accumulated Depreciation and Impairment Charges 1 Jan 08 Carrying Amount 1 Jan 08 Current Year Additions Current Year Disposals Current Year Impairment Charges Current Year Depreciation Revaluation Movement Cost/ Revaluation 31 Dec 08 Accumulated Depreciation and Impairment Charges 31 Dec 08 Carrying Amount 31 Dec 08
  $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000
 
Land 1,320 - 1,320 550 - - - - 1,870 - 1,870
Infrastructural Assets 11,529 ( 367 ) 11,162 2,806 ( 17 ) - ( 418 ) - 14,314 ( 782 ) 13,532
Buildings 243,231 ( 7,528 ) 235,703 9,107 ( 567 ) - ( 7,715 ) - 251,737 ( 15,209 ) 236,528
Leasehold Building Improvements 2,920 ( 2,247 ) 672 36 - - ( 66 ) - 2,955 ( 2,313 ) 642
Library Collection 47,920 ( 24,706 ) 23,214 2,944 - - ( 2,110 ) - 50,864 ( 26,816 ) 24,048
Teaching & Research Equipment 76,142 ( 58,612 ) 17,530 4,804 ( 213 ) - ( 4,451 ) - 58,175 ( 40,505 ) 17,670
Art Collection 297 ( 6 ) 292 18 - - - - 315 ( 6 ) 310
Administration, Plant and Furniture 433 ( 222 ) 211 108 - - ( 88 ) - 568 ( 336 ) 232
Motor Vehicles 3,280 ( 1,759 ) 1,521 515 ( 28 ) - ( 349 ) - 3,660 ( 2,001 ) 1,659
Work in Progress 8,589 - 8,589 2,870 ( 25 ) - - - 11,433 - 11,433
Total 395,661 ( 95,447 ) 300,214 23,758 ( 850 ) - ( 15,197 ) - 395,891 ( 87,968 ) 307,924
 
Last Year Consolidated Cost/ Revaluation 1 Jan 07 Accumulated Depreciation and Impairment Charges 1 Jan 07 Carrying amount 1 Jan 07 Current Year Additions Current Year Disposals Current Year Impairment Charges Current Year Depreciation Revaluation Movement Cost/ Revaluation 31 Dec 07 Accumulated Depreciation and Impairment Charges 31 Dec 07 Carrying Amount 31 Dec 07
  $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000
 
Land 1,320 - 1,320 - - - - - 1,320 - 1,320
Infrastructural Assets 9,533 - 9,533 1,996 - - ( 367 ) - 11,529 ( 367 ) 11,162
Buildings 239,029 - 239,029 4,202 - - ( 7,528 ) - 243,231 ( 7,528 ) 235,703
Leasehold Building Improvements 3,194 ( 2,417 ) 777 5 ( 36 ) - ( 74 ) - 2,920 ( 2,247 ) 672
Library Collection 44,613 ( 22,640 ) 21,974 3,306 - - ( 2,067 ) - 47,920 ( 24,706 ) 23,214
Teaching & Research Equipment 73,881 ( 56,975 ) 16,907 5,634 ( 324 ) - ( 4,687 ) - 76,142 ( 58,612 ) 17,530
Art Collection 287 ( 6 ) 281 11 - - - - 297 ( 6 ) 292
Administration, Plant and Furniture 338 ( 167 ) 172 95 - - ( 55 ) - 433 ( 222 ) 211
Motor Vehicles 3,237 ( 1,676 ) 1,561 415 ( 96 ) - ( 360 ) - 3,280 ( 1,759 ) 1,521
Work in Progress 3,948 - 3,948 4,641 - - - - 8,589 - 8,589
Total 379,380 ( 83,881 ) 295,502 20,305 ( 456 ) - ( 15,138 ) - 395,661 ( 95,447 ) 300,214

The $171,000 (2007 - $145,000) difference between the Property, Plant and Equipment Carrying amount, represented in the Balance Sheet for the University as compared to the value under Consolidated, is the Property, Plant and Equipment held by The University of Waikato Foundation of $3,000 (2007 - $4,000) and WaikatoLink Limited of $167,000 (2007 - $141,000).

Land and Buildings were revalued as at 1 January 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 are valued at Optimised Depreciated Replacement Cost method.

Infrastructural Assets were revalued as at 1 January 2006 by Opus International Consultants Limited on a fair value basis using the Optimised Depreciated Replacement Cost method.

The net carrying amount of Property, Plant and Equipment held under finance leases is $1,914,000, (2007 - $1,958,000).

In accordance with the land lease agreement with Tainui Group Holdings Limited the University is able to sublet up to 25% of the gross floor area of the buildings.



<< Note 15: Intangible Assets Table of contents Note 17: Income in Advance >>

The University of Waikato - Te Whare Wananga o Waikato
Last modified: Tue Apr 21 17:38:38 2009

Page Generated: Mon May 29 03:32:23 2023
URL: https://www.waikato.ac.nz/annualreport/2008/note16.shtml
This page has been reformatted for printing