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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. |
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