TOWN OF CAMBRIDGE ANNUAL REPORT · 2017-03-16 · 4 Town of Cambridge Annual Report 2015-2016. Council and Committee meetings Ordinary meetings of Council are held on the fourth Tuesday

2015 - 2016

TOWN OF CAMBRIDGEANNUAL REPORT

Cambridge is a place where things happen. Stylish new and enhanced development will create hubs of community activity - places where families and friends get together, where business thrives and access is easy. Housing will become more diverse to accommodate people at different life stages and our suburban landscape will enhance its appeal through beautiful green and open spaces.

CONTENTSMayor’s Report � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 2

Elected Members � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 4

Ward Boundaries � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 6

Committees and working groups � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 7

Council Functional Structure � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 8

Executive Management & Operational Managers � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 9

Chief Executive Officer’s Report � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 10

Projects � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 12

Corporate and Strategic � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 15

Community Development � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 20

Development and Sustainability � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 28

Infrastructure � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 37

Statutory Compliance and Civic Responsibilities � � � � � � � � � � � � � � � � � � � � � 46

About our Town � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 48

Financial Report � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 50

Our Vision

Important Please Read

The aerial imagery was shot by Just Gravity and other imagery provided from various

photographers including Douglas Mark Black Photography and f22 Photography.

BUSINESS PHILOSOPHYWe are committed to making decisions in the interests of both current and future generations. Our approach will be based on the following ideals:

Partnerships/RelationshipsProductive relationships with industry, the State Government and other Local Governments to deliver improved cost effective services.

Community CentredMeeting the needs of our communities through strong community consultation, engagement and collaboration.

SustainabilityEmbracing the principles of sustainability in our decision making to balance the needs of both current and future generations through environmental protection, social advancement and economic prosperity.

Enhanced ServicesContinued improvement to our services through planning, adaptability and careful management of risks.

VALUESIn everything we do, we will seek to adhere to a set of values that guides our attitudes and behaviours.

Friendly and HelpfulWe value our customers and our work colleagues and will assist them in the best way we can.

TeamworkWe believe teamwork is essential for improving our services and achieving our goals.

CreativityWe can improve the way we do business by challenging the status.

IntegrityWe will act responsibly, place trust in each other and will be accountable for our actions.

1Our Vision 1

KERISHANNON

This past year has been an exciting and busy time for the Town of Cambridge. We have significantly increased and improved the number of places within the Town to enjoy leisure activities. We want to build a better Cambridge - one which encourages liveability, community involvement and leisure activity.

Major ProjectsThis year saw the delivery of our four major projects. Bold Park Aquatic Centre has been completely rebuilt with a new semi-enclosed 4 lane leisure pool and the expansion of the existing outdoor pool which will now be heated in summer using sustainable solar technology. In addition to swimming lessons and swim squads, the centre now offers leisure activities including a playgroup, yoga and tai chi classes.

The City of Perth Surf Lifesaving Club Building and Commercial Development at City Beach was opened in June 2016 by the Premier Mr Colin Barnett. The Town funded around $15.5 million of the cost which will be partially offset by commercial rents over time. The precinct has recently been awarded a commendation in the 2016 Australian Urban Design Awards. Three restaurants have commenced operation and are proving very popular. We are currently adding to the carpark opposite Fred Burton Reserve to cater for additional visitors during the busy summer months. The additions are due for completion in early December 2016.

The new restaurant and function centre at the Wembley Golf Course have commenced operation and have been well received by the community. The redevelopment cost $11 million, which was funded by a loan from the Endowment Lands Account. The completion of the $3.5 million Wembley Golf Course Miniature Golf and Playground, means the Wembley Golf Course is a place where people of all ages can play a round of mini golf or have a meal, while enjoying the magnificent natural surrounds of the Wembley Golf Course.

The new Wembley Sport Park Pavilion was opened in time for the commencement of the 2016/2017 season. This state of the art building will provide multi-use clubrooms for a number of local sporting associations including the Wembley Football Club, the Wembley Baseball Club and the Wembley Cricket Club. We are refurbishing the old club rooms and this should be completed by early December 2016.

Mayor’s Report

2 Town of Cambridge Annual Report 2015-2016

Other ProjectsWe are undertaking stage 2 of the Perry Lakes skate park in Floreat which will include the installation of a skate bowl and lights. It’s great to see the skate park used by people of all ages. We are currently working on the Lake Monger Activity Plan which will be progressed over the coming year in consultation with the community.

The issue of underground power has been a significant issue for the community for many years. We have committed significant reserves to this project to achieve consistency, improved reliability of supply and visual amenity in our residential streets. Our application for four State Underground Power Program projects at a projected cost of $36 million, will (if successful) see all local power lines within the Town underground. We should know by the end of December or early January 2017 if we have been successful.

We recognise Perry Lakes is important both in terms of biodiversity as well as being a barometer for groundwater levels. It is believed that replenishing Perry Lakes will have a positive effect of banking groundwater across the Town, thereby mitigating potential issues with the level of water in Lake Monger. With the drying climate, the pressure upon our groundwater cannot be underestimated. I am pleased funds have been allocated in the 2016/2017 budget to update reports regarding the most cost-effective way to revive Perry Lakes, including the use of treated waste water to raise the groundwater levels in Perry Lakes. We will also consider ways to recharge the aquifer using water from the Herdsman drain.

Planning and HousingThis year the Town’s housing diversity proposal (Town Planning Scheme Amendment 31) was rejected by Minister Faragher. This followed the Town’s request and the WAPC’s recommendation to the Minister to reject Scheme Amendment 31 as it was inconsistent with state planning policy and not supported by a Local Planning Strategy (LPS).

Scheme Amendment 31 had been worked on by the Town Planning Steering Review Committee since 2013. It relied upon an Additional Use mechanism to control the design of future development, and claimed to deliver smaller dwellings without the battle axing of blocks. The stated objective of Scheme Amendment 31 was said to be the provision of housing diversity. However, Scheme Amendment 31 had the practical effect of significantly increasing density, and would not have delivered diverse or affordable housing. The Town was already well ahead of its density targets for Directions 2031 and Scheme Amendment 31 would have irreparably changed the character of the garden suburbs of City Beach and Floreat. The community recognised that outcome and actively campaigned for and supported the refusal of Scheme Amendment 31.

We have given Minister Faragher an undertaking that we will undertake the preparation of a Local Planning Strategy. In 2010 the Town had initiated a draft Local Planning Strategy which failed to be progressed. We have now engaged external planning consultants to assist the Town with the LPS and have already commenced our first round of community engagement. The LPS should be completed and ready for submission to the WAPC by mid 2018.

Importantly, we have adopted a new approach to strategic planning within the Town, which is consistent with state planning policy and will provide more certainty for future development within the Town. The incorporation of the development controls into the Town Planning Scheme following the LPS will provide a higher degree of certainty on planning outcomes for the benefit of all residents.

We have introduced a new web portal for community engagement. We have also introduced a policy for Elected Members to disclose contact with Developers and all of our statutory registers are now shown on the Town’s website for improved transparency. While we still have more work to do improving governance and processes within the Town, I am confident that we will provide a better, more liveable Cambridge going forward.

Keri Shannon

Mayor

3Mayors Report

Elected Members

MayorKeri Shannon 3 Warreen Place CITY BEACH 6015

Tel 9347 6014Fax 9347 6066Mob 0438 375 377 email [email protected] Term ends October 2019

Deputy MayorCr Pauline O’Connor JP1 Talgarth Way CITY BEACH 6015

Tel 9285 1126Mob 0412 085 850email [email protected] Term ends October 2017

Cr Rod Bradley12 Lowanna Way CITY BEACH 6015

Tel 9385 7000 Fax 9389 8326Mob 0412 953 100email [email protected] Term ends October 2019


Council and Committee meetingsOrdinary meetings of Council are held on the fourth Tuesday of each month, starting at 6pm. All council and committee meetings (unless decided otherwise by the Council) are open to the public. Special meetings of Council are held as required.

The Council was supported by three standing committees – the Community and Resources Committee and the Development Committee which meet each month and make recommendations to Council, and the Audit Committee, which meets as required, generally three to four times a year.

Council and committee minutes and agendas are available at www.cambridge.wa.gov.au

Cr Andres Timmermanis109 Brookdale Street CITY BEACH 6015


Cr Jane Powell85 Blencowe Street WEST LEEDERVILLE 6007

Mob 0412 085 850email [email protected] Term ends October 2019

Cr Louis Carr51B Simper Street WEMBLEY 6014

Tel/Fax 9387 8333Mob 0417 733 113email [email protected] Term ends October 2019

Cr Corinne MacRae67 Blencowe Street WEST LEEDERVILLE 6007

Tel 9381 8327email [email protected] Term ends October 2017

Cr Tracey King12 Gregory Street WEMBLEY 6014

Mob 0406 603 942email [email protected] Term ends October 2017

Cr Sonia Grinceri493B Cambridge Street FLOREAT 6014


5Elected Members

Salvado Road

Grantham Street

Underwood Avenue

Powis StreetJon Sanders Drive

Bo

ld P

ark

Dri

ve

The Boulevard

CromartyRoad

Empire Avenue

Bro

mp

ton

Ro

ad

Wes

t C

oas

t H

igh

way

Oceanic Drive

FLOREATBEACH

WEMBLEYWARDCITY

BEACH

Har

bo

rne

Stre

et

Herdman Par

ade

Mitchell Freeway

Cambridge Street

Railway Parade

Lake Monger Drive

Loftus S

tree

t

Step

hens

on A

venu

e

COASTWARD

LAKEMONGER

PERRYLAKES

Town Boundary

Ward Boundary

Town of CambridgeAdministration & Civic Centre1 Bold Park Drive, Floreat

Wembley Golf CourseThe Boulevard, Floreat

Surf Lifesaving ClubsQuarry AmphitheatreOceanic Drive, City Beach

Town of Cambridge DepotLemnos Street, Shenton Park

Bold Park Aquatic CentreThe Boulevard, Floreat

Leederville Town Hall84 Cambridge StreetWest Leederville

Number 86 Youth Centre86 Cambridge StreetWest Leederville

Cambridge Library andThe Boulevard Centre99 The Boulevard, Floreat

Matthews Netball Centre199 Salvado Road, Wembley

Wembley Community Centre40 Alexander Street, Wembley


Ward Boundaries

TOWN REPRESENTATIVES AND DELEGATESMindarie Regional Council Cr MacRae

Tamala Park Regional Council Cr Carr

Local Government Association Central Metropolitan Zone Crs O'Connor and Timmermanis

Cambridge Coastcare Inc. Cr O'Connor

Perry Lakes Reserve Working Group All Elected Members (on interest basis)

Lake Monger Working Group All Elected Members (on interest basis)

Public Art Committee Mayor Shannon, Crs Bradley, Grinceri, King and Powell

Town Planning Scheme Review Steering CommitteeMayor Shannon, Crs Bradley, MacRae, O'Connor, Powell and Timmermanis

Western Suburbs Regional Organisation of Councils (WESROC) Observer status: Mayor and CEO

CEO Performance Review CommitteeMayor Shannon, Crs Bradley, Grinceri, O'Connor and Powell

Major Projects and Underground Power Steering CommitteeMayor Shannon, Crs Bradley, Carr, Grinceri, Powell and Timmermanis

RATEPAYER AND RESIDENT ASSOCIATIONWest Leederville Residents Association Inc.

Anne Lake (President)

PO Box 1439, West Leederville, WA 6901

Website: www�wlra�org�au

Wembley West Leederville Residents Association Inc.

Mr Robert Dickinson

102 Pangbourne Street, Wembley, WA 6014

Telephone: 9387 6750

Floreat Ratepayers/Residents Association Inc.

This association is currently inactive�

Coast Ward Ratepayers Association Inc.

Mr Rob Walker (President)

14 Palani Rd, City Beach, WA 6015

Email: rob@perthpropertypartners�com�au

Cambridge Residents Association Inc.

Mrs Elizabeth Eaton (President)

17 Lifford Road, Floreat WA 6014

Email: cambridge�ra�wa@gmail�com

7Ward Boundaries I Committees and Working Groups

Committees and working groups


Council Functional Structure

Finance

Contracts/Purchasing

Information Technology

Property (Land and Leasing)

Customer Service

Document Management

Governance and Contracts

Corporate Communications

Human Resources

Engineering and Design

Waste Management

Building Management

Works

Parks

Depot Operations

Fleet Management

Asset Management

Wembley Sports Park

City Beach Surf Club Building and Commercial Development

Wembley Golf Course Hospitality and Miniature Golf

Parkside Walk, Jolimont Development

St John’s Wood Mt Claremont Development

Bold Park Aquatic Development

State Underground Power Program

Other Projects

Community Development

Disability Services

Senior Services

Youth Services

Community Safety

Facilities Management

Library Services

Bold Park Aquatic

Wembley Golf Course

Planning Services

Building Services

Environmental Health

Sustainability

Development Liaison / Compliance

Ranger Services

Beach Inspections

Corporate and Strategic


Development and Sustainability

Infrastructure Projects

CHIEF EXECUTIVE OFFICER

DIRECTORS

MAYOR AND COUNCILLORS (9) Committee Meetings held monthly

CHIEF EXECUTIVE OFFICER Jason Buckley

DIRECTOR CORPORATEAND STRATEGICJason Lyon

Governance, Human Resources, Finance, Contracts / Purchasing,Information Technology, Communications, Property (Land and Leasing), Customer Services,Document Management, Strategic and Corporate Business Planning.

Manager FinanceRoy Ruitenga

Manager Information Technology and CommunicationsSteve Platts

Manager Governance and ContractsStuart Hobley

Manager Human ResourcesAnn Blakeney-Britter

DIRECTOR COMMUNITY DEVELOPMENTCam Robbins

Community Development, Disability Services, Senior Services, Youth Services, Community Safety, Facilities Management, Library Services, Bold Park Aquatic, Wembley Golf Course.

Manager Community DevelopmentCarole Lambert

Manager Library ServicesNerida Clifford

General Manager Wembley Golf CourseMatthew Day

DIRECTOR DEVELOPMENT AND SUSTAINABILITY Ian Bignell

Planning Services, Building Services, Environmental Health Services, Sustainability Development, Compliance, Ranger Services, Parking Services, Beach Lifeguard services.

Manager DevelopmentStev Rodic

Manager ComplianceJohn Giorgi

DIRECTOR INFRASTRUCTUREChris Colyer

Engineering, Design, Waste Management, Building Management, Works, Parks, Depot Operations, Fleet Management, Asset Management.

Manager Infrastructure WorksJon Bell

Manager Infrastructure AssetsPeter Maloney

Manager Infrastructure ParksRoss Farlekas (retired Feb 2016)

DIRECTOR PROJECTSBrett Jackson

Major Projects

9Council Functional Structure I Executive Management and Operational Managers

Executive Management and Operational Managers

JASONBUCKLEYCHIEF EXECUTIVE OFFICER

The Town of Cambridge has been extremely active over the last year and we have seen the delivery of two major projects and two other projects well under construction for completion before the end of 2016. These developments represent a significant investment in new facilities for the community that have been many years in the planning.

The new Bold Park Aquatic centre opened its doors to the public in November 2015. The new development cost $12.5 million and has received many positive comments from the public. The building works for the City Beach development was completed in January 2016 allowing tenants to undertake their fit-outs. Odyssea commenced trading in late January 2016 with Rise Pizzeria and Hamptons commencing trade shortly after the end of the financial year. The City of Perth Surf Life Saving Club will have its first full season in the new premises for the summer of 2016/2017. The completion of the new facilities at City Beach was marked by an official opening by Mayor Keri Shannon and Premier Colin Barnett on 17 June 2016.

Architectural design awards have been received for both projects.

Significant progress was made on other major projects as follows:

• Wembley Golf Course Hospitality Development ($11 million - under construction)

• Wembley Golf Course miniature golf and playground ($3.5 million - under construction)

• Wembley Sports Park Pavilion ($3 million - under construction)

• Nursery site land development - Parkside Walk, Jolimont - subdivision approved for up to 350 dwellings.

• Area G land development - St John’s Wood Mt Claremont - subdivision approved for 49 lots, construction works completed and sales program commenced.

• Perry Lakes Stadium Redevelopment, Floreat - three large apartment sites with up to 292 dwellings were transferred by the State Government to the Town in July 2015 valued at $27 million excluding GST;. It is expected the Town will receive the balance of funds owed by the State Government of $23 million before the end of 2016 as provided in the Perry Lakes Redevelopment Act 2005. Two of the sites transferred to the Town have been sold for $19.5 million excluding GST with settlement due in January 2017

Chief Executive Officer’s Report


Revenue Expenses

2010/2011$M

2011/2012$M

2012/2013$M

2013/2014$M

2014/2015$M

2015/2016$M

Profit/Loss

Revenue $33.6 $35.9 $37.2 $39.9 $41.8 $43.5

Expenses -$33.6 -$35.2 -$37.2 -$39.4 -$41.1 -$44.1

Operating Result $0.0 $0.7 $0.0 $0.5 $0.7 -$0.6

Capital Grants & Contributions $1.3 $7.0 $11.2 $2.3 $3.4 $30.5

Asset Disposals & Adjustments -$0.4 $1.0 $8.4 $18.0 $8.0 $4.7

Revaluation of Assets $71.0 $22.7 -$3.8

Net Result $0.9 $8.7 $19.6 $91.8 $34.8 $30.8

Balance Sheet

Assets $174.2 $182.1 $203.0 $294.9 $330.3 $361.8

Liabilities -$21.4 -$20.6 -$21.9 -$22.0 -$22.6 -$23.3

Net Assets $152.8 $161.5 $181.1 $272.9 $307.7 $338.5

% Increase 0.6% 5.7% 12.1% 50.7% 12.8% 10.0%

$ M

illio

ns

2014/2015 2015/20162013/20142012/20132011/20122010/2011

We have again been successful with our waste management efforts under the Maximum Recovery program with 48% of kerbside waste diverted from landfill. Waste in the recycling bin accounted for 30% and the green bin 18%. Of the waste sent to Mindarie Regional Council a proportion of all members waste is processed and composted that increases the Town’s diversion efforts.

The Town has continued to deliver outstanding services to the community in accordance with the Community Strategic Plan details of which are outlined in this report.

The Town is performing strongly from an operating perspective and with the materialisation of wealth assets, in the short to medium term, the Town will be in an excellent financial position in the future. The following charts demonstrate the financial trend over the last few years. It is noted that the operating result was slightly negative at $600,000 and this was due to unbudgeted expenditure of $600,000 for the design of underground power funded from reserves and an extra $800,000 in depreciation expense. The Town currently has $340 million in net assets and this will increase soon as the proceeds from major land developments are received over the next few years.

Elections were held in October 2015 which resulted in the election of three new elected members being Mayor Keri Shannon, Cr Jane Powell and Cr Andres Timmermanis. Cr Rod Bradley and Cr Louis Carr were re-elected to their positions on Council. I acknowledge the contributions made by former elected members Mayor Simon Withers (8 years), Deputy Mayor, Cr Alan Langer (16 years) and Cr Colin Walker (4 years).

I would like to thank the staff for their positive and enthusiastic approach over the last twelve months. I also express my appreciation for their continued commitment and focus in delivering services to the community. I also wish to thank elected members in providing direction and their guidance and support of the administration in achieving the council’s objectives over the last twelve months.

Jason Buckley

Chief Executive Officer

11Chief Executive Officer’s Report

$45

$40

$35

$30

$25

$20

DIRECTORPROJECTS

The Projects Directorate was established to provide the Town with capability to efficiently and effectively plan and deliver strategic initiatives beyond the Town's day to day operational programs.

Wembley Sports Park The Town is well into construction of the new Wembley Sports Park Pavilion which will be the home of Wembley Athletic Club. This project entails construction of a new hall, home change rooms and toilets, fitness room and kitchen, which will join to the existing away change rooms, toilets and kiosk. This will effectively triple the size of the building for Wembley Athletic Club as well as significantly improve spectator seating facilities. The first stage has reached completion and it is anticipated that the works will be completed by late December. This $3 million project is predominantly funded by the Town of Cambridge with support from Wembley Athletic Club and the Department of Sport and Recreation.

Bold Park Aquatic The redeveloped Bold Park Aquatic was officially opened to the public in November 2015.

This $12.5 million facility provides a 10-lane 50 metre outdoor heated pool, an enclosed heated leisure pool/learn to swim pool, as well as new change rooms, car parking, playground, café and swim shop. The project received a Commendation at the 2016 WA Public Architecture Awards in recognition of the design of the buildings.

Underground PowerThe Town has submitted proposals under Round 6 of the State Underground Power Program to have about 3,300 properties within the Town converted from overhead supply to underground power.

The proposals have passed the first stage of assessment and the State is currently surveying property owners to gauge their willingness to support these proposals. If successful with its proposals, the Town will be able to set in place a project plan that sees all remaining properties in the Town of Cambridge finally converted to underground power, bringing to a close many years of progressive works and failed applications to have the project finished.

Proposals under Round 6 of the State Underground Power Program are ranked higher if (increasing the chances of being successful) the proposed contribution from local governments and/or property owners is greater than the 50% threshold set by the government.

The Town has submitted four proposals each proposing that properly owners contribute 50% of the project cost; the Town contributes 40% of the project cost. If all four proposals are successful, the total Town funding for underground power is in the order of $17 million.

Projects


BRETTJACKSON

Wembley Golf Course Hospitality ProjectThe much anticipated construction of the new hospitality facilities at Wembley Golf Course is nearing completion. The Town has developed a new bistro/bar area, function rooms, kiosk, change rooms and toilet facilities as well as improved car parking and landscaping within the $11 million development.

By the end of August 2016, the facilities will be open to the public. Works are also underway to develop new short game practice facilities, a miniature golf course and children's playground on the northern side of the main buildings. The extended cost of these facilities is $3.5 million. It is anticipated that these facilities will be open to the public by the end of December 2016.

Parkside Walk JolimontSubdivision works are now underway with a view to complete the works within a 12 to 18 month timeframe. Apartment sites and house lots will progressively come to the market for purchase from late 2016 onwards.

St John's Wood, Mount ClaremontThe subdivision works are complete, and at the time of this report, 75% of the housing lots have been purchased with new residents planning the construction of their new homes.

13Projects

Surf Club Building and Commercial Development at City Beach The Surf Club Building and Commercial Development at City Beach was officially opened by the Mayor Keri Shannon and the Hon Colin Barnett MLA Premier of Western Australia, on 17 June 2016� Odyssea, the first of the restaurants in the precinct, was opened early in 2016 and has enjoyed significant patronage and positive feedback� The second restaurant, Rise Pizzeria, has just opened, with the final restaurant, Hamptons, to open very soon�

The surf club has taken occupancy of its new $18 million facilities and by all reports, is enjoying the benefits of this new, bespoke building�

The Town will be embarking on car parking expansion during the coming months to assist in peak periods of parking demand�

It was noted that the project received an award for Public Architecture at the 2016 WA Architecture Awards which was in recognition of the intent of the Town to develop attractive and functional facilities and our design team who took this vision into reality�


Greater emphasis has been placed on forward planning and dialogue with the community, in response to a range of opportunities to improve local neighbourhoods.

In this context, the Town undertook a desktop review of its Strategic Community Plan and Corporate Business Plan, ahead of a comprehensive review which will be undertaken during 2016/2017, this will involve a range of conversations with our community on important matters. To form the basis for those conversations, the Town developed a community engagement framework to guide its engagement activities. Work has also commenced on the review of the Financial Plan, Asset Management Plan, Workforce Plan and ICT Strategy, and will conclude during 2016/2017.

The Town received confirmation from the State Government that it would finalise the settlement of the Perry Lakes Estate development through a transfer of land and payment of cash. In July 2015 three group dwelling sites were transferred to the Town valued at $27.4 million. The balance of the $50 million due to the Town, i.e. 22.6 million will be paid in cash in 2016/2017. This brings more certainty to the Town's Financial Plan, which has modelled the payment from the State and the application (in part) to Underground Power and other strategic projects.

Two of the three Perry Lakes group dwelling sites were put to the market during the year and a contract was entered into for the sale of the two sites at $21.56 million.

Corporate and Strategic

The directorate continues to support the Town's program of Major Projects. This is an exciting time for the organisation given the magnitude of the projects, and the significance of the project deliverables, from both a community and from a commercial perspective.

These projects have required all facets of corporate services to increase its service support, from tender and contract management to commercial negotiations, business case development and financial control. Four commercial properties came on line during the year, including three café/restaurants at City Beach and a new hospitality venue at the Wembley Golf Course. With an increase in the commercial properties the Town now manages, improvements were made to the property management system to ensure its leased properties are managed effectively.

The Community Facilities Leasing Policy continues to be a firm foundation to maintain our community buildings in a satisfactory condition. During the year, $450,000 was spent on replacing the roof at the Floreat Surf Club, in addition to a number of other community building maintenance and upgrade outlays.

As part of a continual improvement program, the Town embarked on a number of risk management initiatives, including a review of its risk management framework, development of business continuity plans and progression of a number of infrastructure risk management programs, including the asbestos removal program (removing latent asbestos materials from older buildings).

Governance is an important facet of any organisation and the Town’s governance function is supported by the internal audit program. A number of system and process reviews were undertaken during the year and improvements made to manage systems and process risks and improve business efficiencies.

JASONLYONDIRECTOR CORPORATE AND STRATEGIC

15Corporate and Strategic

FinanceIn July 2015, the council adopted an operating budget of $43 million and a capital program of $39 million. At year end, the overall surplus, after allowing for works in progress was $533,000, which was transferred to the Town's Asset Management reserve.

Capital works of $31 million were undertaken, including $5.6 million on the Bold Park Aquatic Centre upgrade, $5.9 million on the City Beach Surf Clubrooms and Commercial project, $9.9 million on the Wembley Golf Course Hospitality and miniature golf project and $1.6 million on the Wembley Sports Park Pavilion plus ongoing renewal of the road, drainage and footpath infrastructure networks.

During the year, a number of major projects were progressed. Over the past few years, the Town has invested $60 million on its major projects and has provisioned a further $6 million in the 2016/2017 financial year to complete the projects.

Major Projects within the City Beach area are funded in part by the Endowment Lands Account, (the "ELA"). Opening with a balance of $17 million, a further $3.1 million was deposited into the ELA from the proceeds of land sales. Funds were then transferred for the major projects and for other smaller capital projects capital projects, totalling $20.1 million. At year end, the ELA had a balance of $0.8 million, however at least $10.5 million in land proceeds are expected to be transferred to the ELA from the sale of lots within the St Johns Wood Estate towards the end of the 2016/2017 financial year. Internal loans will also replenish the ELA over time.

During the year the Town revalued its plant and equipment assets in accordance with the revaluation timetable as stipulated in the local government accounting regulations. This had a minimal impact on the net position.

Overall, the Town's property and infrastructure assets increased during the year by $19 million. The Town expended $31 million on assets and booked depreciation, write-offs and revaluation decrements of $12 million. The Town's equity position increased by $31 million through a combination of an increase in the retained surplus and a $27.4 million contribution from State Government.

Finance Year in DetailStatement of Comprehensive Income

Operating ResultThe Statement of Comprehensive Income shows the operating result before non-operating grants, subsidies and contributions and disposal of assets. It indicates an operating deficit of $620,000 against the original operating budget deficit of $185,000, a $435,000 difference. This is largely due to the following factors:

Expenditure• The expensing of Underground Power design costs of

$593,000, approved by Council after the budget adoption. This was funded by land sale proceeds.

• An increase in depreciation expense of $802,000 due to a revaluation of infrastructure assets on 30 June 2015.

Revenue• A non-refundable deposit $1 million received during the

year with respect to the sale of lot 232, 1 Meagher Drive and lot 233, 29 Stadium Drive, Perry Lakes Estate with the balance settlement due in January 2017.

Net ResultThe Statement of Comprehensive Income shows an overall net operating result of $34.4 million compared to an expected result of $7.1 million. The variance of $27.3 million, mainly attributable to the Town receiving three apartment sites, valued at $27.4 million within the Perry Lakes Estate from the State Government as part payment of the $50 million it's owed with the completion of the Perry Lakes Redevelopment project. The remaining balance of $22.6 million will be paid in cash during the current financial year.

Total Comprehensive IncomeThe Statement of Comprehensive Income shows a total comprehensive income of $30.7 million after a change in the revaluation surplus of $3.6 million relating predominantly to the disposal of Dampier Avenue lots ($2.4 million), previously revalued in January 2014 and a change of $1 million in the valuation of the Tamala Park land developed during the year and reclassified as land held for resale.

Rate Setting StatementThe overall rate-setting surplus, which takes into account operating, capital and financing transactions, after allowing for carry forwards, was $533,000 compared to an adopted balanced budget (i.e. zero) position. The surplus resulted from considerable cost savings within the road surfacing capital works programme, with lower asphalt prices charged by contractors as oil prices fell during the year. The surplus has been transferred to the asset management reserve at year end.

The rate setting statement closing balance of $3.43 million represents carried forward operating and capital programmes either in progress or yet to commence at the end of the financial year.


Statement of Financial PositionOverall, net assets increased by $31 million as a result of the following movements.

Current AssetsCurrent assets increased from $35 million to $47.3 million during the year. The major movements being:

• an increase in inventories of $27.6 million predominantly due to the classification of three apartment sites in the Perry Lakes Estate (Lots 231, 232, and 233) valued at $27.3 million, received from State Government, as land held for resale. Two lots are due to settle in January 2017.

• a decrease in cash and investments of $15 million reflecting drawdowns for major projects Bold Park Aquatic Centre Upgrade, City of Perth Surf Clubrooms and Commercial design project and the Wembley Golf Course Hospitality project.

Non-Current AssetsProperty, Plant and Equipment and Infrastructure increased during the year by $19 million, reflecting the Town's continued commitment to maintaining and enhancing its infrastructure. The Town expended $31 million on assets against depreciation, write-offs and revaluation changes of $12 million.

Investments in Mindarie Regional Council and Tamala Park Regional Council increased nominally by $357,000, this is after the Tamala Park Regional Council paid the Town a return in equity of $1.25 million.

Current LiabilitiesCurrent liabilities increased by $1.4 million. This was predominantly due to current borrowings increasing by $1.2 million. A new short term loan facility of $3.5 million was established in late June 2016 to fund the Wembley

Golf Course Miniature Golf construction project. The loan is for one year and will be repaid in June 2017. The first draw down of $1.125 million was made at the end of June.

Non-Current LiabilitiesThe Town’s non-current liabilities decreased by $644,000 which was mainly due to loan principal repayments.

EquityTotal equity increased by $31 million as a result of an decrement of $3.7 million to the asset revaluation reserve for assets, an accumulated surplus of $50 million and a corresponding decrease in cash reserves of $15.3 million applied to the Town's major projects.

Customer Services The Town's Customer Service team continues to provide the community with quality personal service focusing on friendly and timely delivery standards.

A new phone system was installed in July 2015 assisting Customer Services direct call management to exceed their targets for first contact resolution of calls.

The Customer Services team at the Administration Centre dealt with 42,160 calls during the first 11 months of the new phone system with over 92% answered at the first point of service.

During the peak months October and November (due to dog and cat registrations, planning/building enquiries and council elections) service levels were still met despite a 25% increase in average monthly calls.

The new phone system will gradually be installed across other key centres at the Town with the Library/Boulevard Centre and Bold Park Aquatic already utilising the new system.


Buildings Office Furniture & Equipment External Plant & Equipment Infrastructure

1996

- 1

997

1997

- 1

998

1998

- 1

999

1999

- 2

000

2000

- 2

001

2001

- 2

002

2002

- 2

003

2003

- 2

004

2004

- 2

005

2005

- 2

006

2006

- 2

007

2007

- 2

008

2008

- 2

009

2009

- 2

010

2010

- 2

011

2011

- 2

012

2012

- 2

013

2013

- 2

014

2014

- 2

015

2015

- 2

016

Trend of Asset Economic Life

0.9

0.8

0.7

0.6

0.5

0.4

0.3

0.2

0.1

0% o

f Eco

nom

ic L

ife R

emai

ning

Information Technology and Business SystemsThe Information Technology Help Desk continues to provide guidance and support to users of the Town's hardware, software, communications and business systems. Requests totalling 2,238 were received with 2,233 completed during the financial year.

Key improvements to the Town's technical environment included replacement of the main server and storage hardware infrastructure and replacement of the phone system at the Library/Boulevard Centre and Bold Park Aquatic.

New hardware, point of sale and venue management software was implemented as part of the redevelopment of Bold Park Aquatic allowing greater flexibility and control of customer access and management.

Corporate CommunicationsDuring 2015/2016 Corporate Communications, via a mix of channels, kept the Cambridge community informed about the many projects and activities happening across the Town.

The main platform used to share information continued to be the full page advertorial, Cambridge News, published fortnightly in the local Cambridge Post newspaper. Including 'special editions' there were 27 Cambridge News bulletins published in 2015/2016.

To coincide with the printed publication, an e-Newsletter edition of Cambridge News was sent to 1,776 subscribers, an increase of 161 subscribers from the previous reporting period.

Project and interest specific eNewsletters were also used throughout the year to keep subscribers informed about the Bold Park Aquatic Redevelopment, performances at The Quarry Amphitheatre and Sporting Club news.

In 2015/2016 social media platform "Twitter" was used almost daily to relay current news and events. Tweets were sent relaying information such as upcoming events, employment opportunities, major project updates and council meeting dates. The Town's Twitter following grew steadily over the reporting period. The number of followers at the end of June 2016 was 1,676, an increase of 379 from the previous 12 month reporting period.

The Town's website (cambridge.wa.gov.au) continued to play an important role in providing accurate and up-to-date information to the Cambridge community on the Town's many services.

Human ResourcesHuman Resources are responsible for the development and support of the human resources function within the Town, which includes providing advice and assistance relating to the management of employee relations, recruitment, induction, organisational and professional development, salary and wages, workforce planning, collective bargaining negotiations, occupational health and safety, staff welfare, performance management, organisation development, safety, wellness, employee motivation and training.

The Town's Human Resources policies and practices are continually reviewed and updated to reflect changes in industrial agreements, Council policies, award requirements and entitlements are facilitated and implemented in a timely and professional manner with a continuous understanding of relevant industrial relations practices.

As at 30 June 2016, the Town employed 197 permanent full-time equivalent employees comprising 151 full-time and 75 permanent part-time employees. The Town retained the minimum workers compensation insurance contribution of 2.2% based on a strong health and safety culture.

1000 2000 3000 4000 50000


Changes in Equity Customer Service Phone Contacts 2015-2016

1997

-199

819

98-1

999

2002

-200

3

2006

-200

7

2010

-201

1

2000

-200

1

2004

-200

5

2008

-200

9

2012

-201

3

2015

-201

6

1999

-200

0

2003

-200

4

2007

-200

8

2011

-201

2

2001

-200

2

2005

-200

6

2009

-201

0

2013

-201

420

14-2

015

3403203002802602402202001801601401201008060402000$

Mill

ions

Aug 15

Oct 15

Dec 15

Feb 16

Jun 16

Apr 16

Accumulated Surplus Cash Reserves & Endowment Lands Account Answered by Customer ServiceMonth Total

GovernanceCouncil meeting attendance

CouncilMeetings attended

July 2015 to June 2016Apologies Leave of absence

Mayor K Shannon(sitting member as of Oct 2015)

7

Mayor S Withers (retired Oct 2015) 4

Deputy Mayor Cr P O'Connor JP 10 1

Deputy Mayor Cr A Langer (retired Oct 2015) 4

Cr R Bradley 11

Cr S Grinceri 11

Cr T King 10 1

Cr C MacRae 11

Cr L Carr 10 1

Cr J Powell (sitting member as of Oct 2015) 7

Cr A Timmermanis (sitting member as of Oct 2015)

7

Cr C Walker (retired Oct 2015) 4

Decisions of Council

2010/2011 2012/2013 2013/2014 2014/2015 2015/2016

Items considered 359 379 382 392 479

Average meeting duration 91 minutes 124 minutes 138 minutes 129 Minutes 210 Minutes

Welcoming new citizensFour public citizenship ceremonies for Town of Cambridge residents were held in 2015/2016 in July and October 2015, on Australia Day 2016 and in April 2016. A total of 201 applicants received citizenships during the reporting period.

Date Number of conferees

8 July 2015 45

7 October 2015 44

26 January 2016 62

13 April 2016 50


CAMROBBINSDIRECTORCOMMUNITY DEVELOPMENT

FESTIVALS AND MAJOR EVENTSDuring 2015/16, the Town provided a variety of community events and festivals to enable the local Cambridge community to come together to celebrate and enjoy family activities and entertainment.

Part funded by Lotterywest, the Cambridge 'Summer of Fun' events program consisted of eight community events from December 2015 to April 2016:

• Christmas at Lake Monger;

• Australia Day Celebrations at Perry Lakes Reserve;

• Sunset Music in the Park at Rutter Park Wembley;

• Celebrate City Beach;

• Cambridge Street Festival;

• Exposure Youth Festival at Perry Lakes;

• ANZAC Day Parade and Remembrance Ceremony; and

• TruckStop.


In April 2016, the Town partnered with Sunset Events to trial TruckStop at Perry Lakes Reserve. The roving cultural street food eatery concept was the first event of its kind to be held within the Town.

The month trial held over four Sundays transformed Perry Lakes Reserve into a pop-up retro night market where people could enjoy a variety of food, craft beer and cider, locally produced wine, live acoustic music, visual arts and children’s activities.

TruckStop attracted over 2,500 attendees on the opening weekend and an average attendance of 2000 people per event for the remaining weekends. The trial was highly successful and the event is now set to be included in the Town's 2016/2017 events calendar.


Other major events held in the Town throughout the year included:

• Rose Pruning Demonstration (July 2015);

• City to Surf Fun Run (August 2015);

• Parkinson's Walk in the Park (September 2015);

• Volunteers Function (October 2015);

• Cystic Fibrosis Great Stride (October 2015);

• Alzheimer's Memory Walk and Jog (November 2015);

• Local Primary Schools Education Week Debate (November 2015);

• Sids 'n' Kids Sunshine Beach Event (February 2016);

• Big Al's Poker Run (February 2016);

• Organ Donors Donate Life Ceremony (March 2016); and

• Motor Neurone Walk to d'Feet MND (April 2016).

FINANCIAL ASSISTANCEThrough its Community Grants program, the Town provided a total of $45,670 in the form of grants and donations to local community organisations, service groups, schools and sporting clubs. The Community Organisations Grants program provided a total of $20,007 to local community clubs and groups to purchase new equipment. These included:

• $1,818 to Reabold Tennis Club for the purchase of new equipment;

• $2,000 to West Coast Amateur Football Club for the purchase of sporting club memorabilia and equipment;

• $2,000 to City of Perth Surf Life Saving Club for the purchase of audio visual equipment;

• $2,000 to Wembley Lacrosse Club for the purchase of safety nets;

• $1,452 to Floreat Park Tennis Club for the purchase of bar tables and stools;

• $1,813 to Subiaco Floreat Cricket Club for the purchase of a new fridge;

• $990 to Wembley Playgroup for the purchase of new toys/craft supplies and maintenance of outdoor play environment;

• $1,605 to City Beach Netball Club for the purchase of training equipment;

• $1,657 to Wembley Netball Club for the purchase of fitness equipment;

• $1,000 to City Beach Tee Ball Club for training equipment;

• $1,672 to Bold Park Masters Swimming Club for the purchase of a Go-Pro camera and notebook computer; and

• $2,000 to Cambridge Croquet Club for the purchase of lifesaving equipment.

The Community Events Grant program funded three local community organisations to assist in running events open to residents of the Town totalling $3,818. These included:

• $1,000 to Cambridge Bowling Club to host an Open Day event;

• $818 to Friends of Bold Park Bushland to host an Open Day event;

• $1,000 to All Saints Floreat Uniting Church to host the Floreat Fair event; and

• $1,000 to St Vincent De Paul Society (WA) Inc. to host the 2015 Christmas function.

21Community Development

A further $8,724 was approved for programs and initiatives at schools either located within the Town or servicing children who live in the Town. These included:

• $1,000 to Bold Park Community School for a large scale mural;

• $3,760 to City Beach Primary School for a 60th anniversary celebration;

• $1,680 to Kapinara Primary School for a 50th anniversary celebration;

• $1,054 to Newman College for a nature play garden; and

• $1,229 to Lake Monger Primary School for a bush tucker and nature garden.

The Financial Assistance for Individual Achievement program contributed a total of $11,400 to local individuals who were selected to represent the state or nation for excellence in sport, leisure, cultural or educational activities. These funds are provided to offset travel expenses.

The Town also funded $1,720 under the Donations to Community Groups funding program, which assists with the purchase of trophies and catering. These included:

• $500 to Reabold Tennis Club to host the Reabold Junior Hardcourt Tournament;

• $500 to Reabold Tennis Club to host the Cambridge Cup;

• $220 to Cambridge Bowling and Recreation Club to host a Gala Day; and

• $500 to Cambridge Croquet Club to host the 2016 Australian Croquet Association National Championships.

ART AND CULTUREArt and cultural activities funded during the year included:

• $2,000 granted to the Wembley Theatre Company for their annual pantomime at the Wembley Community Centre;

• The annual Local Primary Schools Art Exhibition. The winning art acquisition piece 'The Curious Giants' was entered by Ben De Lestang from Year 6 at Holy Spirit Primary School;

• The Public Artwork Display at The Boulevard Centre. Various local artists display their artwork in The Boulevard Centre foyer for two months. Works are selected to represent a wide variety of styles and media and are available for viewing and/or purchase; and

• $11,000 for the Artist in Residence Program which was provided to two local schools. West Leederville Primary School participated in "Make-up SFX and Screen Acting Fundamentals Workshops" and Bold Park Community School participated in "Acting, Presenting and Filmmaking Skills and Screen Acting Fundamentals workshops". The program was facilitated by Filmbites Youth Film School.

SPORT AND RECREATIONFinancial Assistance for FacilitiesThe Town's Financial Assistance for Facilities program assists with the provision or replacement of sporting and community facilities within the Town. In 2015/2016 this program provided $84,000 to the Cambridge Bowling Club to assist with the replacement of a bowling green. City Beach Tennis Club also received $23,000 to assist with funding the replacement of perimeter fencing. These projects were funded in conjunction with the Department of Sport and Recreation's Community Sporting and Recreation Facilities Fund.

In addition, the Cambridge Scouts and Girl Guides were provided with $50,000 to upgrade the Scouts/Guides hall located at Perry Lakes Reserve.

Kid SportIn 2015/2016, the Town partnered with the Department of Sport and Recreation (DSR) to promote and administer the KidSport program. The State Government, through DSR, provided funds to the Town to enable Cambridge children affected by financial hardship to participate in club sport. A total of $14,800 was provided to 74 eligible children aged 5 to 18 years to offset club membership fees. The Town actively supports participation in junior sport and recreation and the KidSport program ensures all children within the Town can be involved.

Club DevelopmentThe Town continued its partnership with the Department of Sport and Recreation (DSR) to deliver club development services to local sport and recreation clubs. 2015/2016 was the second year of the Town's Club Development program which focuses on assisting and supporting sport and recreation clubs and club volunteers so they can continue


to play an important role in building healthier, happier and safer communities. Clubs were offered opportunities to attend training workshops, and were provided information and advice about sport and recreation trends, club governance, strategic planning, attracting and retaining volunteers and funding opportunities.

VOLUNTEER RECOGNITIONThe Town hosted its annual Volunteers Function in September 2015 to recognise and give thanks for the dedication and commitment of volunteers in Cambridge. As in previous years, the function was held at The Boulevard Centre and included a full sit down breakfast and a number of formal presentations which profiled the work of some of our most outstanding local volunteers.

Mr Albert Iten, Mr Brett Chivers and Mrs Felicity Chivers were joint winners of the 2015 Club Volunteer Award.

Mr Iten has been a member and volunteer of the Floreat Surf Life Saving Club for 18 years and President for the past five years. During this time, he gave countless hours volunteering towards the smooth running of the club, successfully implemented the club's strategic plan and led various building improvements. He was also involved in the coaching and training of nippers, cadets and senior members in surf lifesaving skills.

Brett and Felicity Chivers were also jointly awarded the Club Volunteer Award for their tireless volunteering efforts with the Cambridge Scout Group over the last 13 years (combined total of 26 years).

They display enthusiasm in all their roles, having devoted countless hours to running scout groups and weekend camps. In 2011, Felicity and Brett received a national Scouts Australia "Silver Arrow Head Award" for excellent service to the Scout Association.

DISABILITY SERVICESThe Town of Cambridge aims to improve accessibility and inclusiveness for people with disability and their carers/families through the strategies outlined in the Disability Access and Inclusion Plan (DAIP) 2015-2018.

The Town’s DAIP is a statutory requirement of the state government under the Disability Services Act 1993 (amended 2004).

Some of the initiatives undertaken in 2015/2016 were:

• Upgrade of the Universally Accessible Toilet at the Wembley Community Centre: The upgrade provided additional space for client access and emergency assistance lights were installed to improve client safety;

• Ramp access installed - Floreat Beach boardwalk: Three ramps were installed to improve access to the boardwalk between Floreat and City Beach. The ramps were installed in the section of the boardwalk at Floreat Beach carpark which now provides a continual accessible path of travel; and

• Accessible Event Checklist completed: A checklist was developed to assist the Town's event organisers when planning and implementing events. This is

to ensure that people with disability are provided with the same opportunities as other community members to access and participate in public meetings, consultations, functions and events.

COMMUNITY SAFETYIn June 2014 Council endorsed the Community Safety and Crime Prevention Plan 2014-2016. Six priority areas are identified as key goals in the plan:

GOAL 1 Reduce Residential Burglary

GOAL 2 Decrease levels of graffiti and vandalism

GOAL 3 Reduce antisocial behaviour

GOAL 4 Increase education and awareness of community safety and crime prevention

GOAL 5 Decrease levels of theft from motor vehicles

GOAL 6 Increase road safety

Specific Community Safety Initiatives Implemented in 2015/2016Free Child Restraint Fitting Service

The Town provides a free child car restraint fitting service for local residents on the first and third Tuesday of each month. This service continues to be very popular. As part of Road Safety Week in May 2016, the Town partnered with Roadwise to set up a display at Cambridge Library to promote the service.

Neighbourhood Watch - Halloween Hotspot

In October 2015 the Town joined with other western suburb local governments to participate in the Halloween Hotspot program. Supported by Neighbourhood Watch, this initiative provides a safe and positive Halloween experience for children.

Get to Know Your Neighbour project

The Get to Know Your Neighbour project was launched in December 2015. The aim of this initiative is to create safer neighbourhoods through facilitating positive communication and relationships between neighbours. Residents were invited to host a 'Get to Know Your Neighbour' event with the Town supporting the host by supplying promotional material and a $100 Coles voucher to assist with catering. Five events were held in the Town which were successful in building neighbourhood relationships.

State Graffiti Funding

In 2016, the Town was successful in securing $5,500 from the WA Police State Graffiti Fund to implement the Anti-Graffiti Solar Lighting Project, which provided the opportunity for residents to receive a free solar light to install in their Right of Way.


Other Community Safety Programs• Further development of graffiti reporting and removal

program- 450 incidents of graffiti were dealt with at a cost of $73,000;

• Participation in the Juvenile Graffiti Clean-up Referral program;

• Continued support for the local Safety House program at Floreat Park and Lake Monger Primary schools;

• Ongoing funding for the Constable Care program, providing safety education within local primary schools;

• Support and promotion of Wembley Bright Blue Discos for local young people;

• Continuation of the Eyes on the Street program and training of new staff; and

• Continued provision of Community Safety and Crime Prevention packs to local residents.

CAMBRIDGE SENIOR SERVICESCambridge Senior Services provides Home and Community Care for eligible seniors, people with disability and/or their carers within the Town of Cambridge. Based at Wembley Community Centre, this service is funded by the State and Federal governments and delivered under the guidelines determined by the funding authority, the Department of Health, Aged Care Directorate, WA.

Cambridge Senior Services maximises independence and promotes wellness while enabling a 'can do' approach to maintain and rebuild skills for essential daily activities. Seniors are encouraged to stay connected with their community in a caring, inclusive and professional environment while using a person-centred approach.

In 2015/2016 Cambridge Senior Services provided 24,298 hours for 307 clients in the following service areas:

• Centre based day care and meals/refreshments;

• Domestic assistance;

• Personal care;

• Social support;

• Respite care;

• Transport (to attend Cambridge Club, shopping and medical appointments); and

• Podiatry.

Key achievements for the year include:

• Successfully completed a Quality Review by the WA Department of Health on 8 December 2015. All home care standards and outcomes were met;

• Big Quiz Day held on 28 October 2015 and on the 22 June 2016;

• Carers nutrition and cooking demonstration held on 11 November 2015;

• Seniors Christmas Lunch held at The Boulevard Centre on the 3 December 2015 for 150 guests;

• Initiated the Seniors Concert Series with concerts held in March and May 2016; and

• Numerous outings for seniors throughout the year to promote wellness and a positive connection to the community. Destinations included Araluen to see the tulips and gardens, live theatre experiences at WAAPA and Penrhos College, and lunches at Hillarys Boat Harbour.

'Have a Chat' ProgramThe 'Have-a Chat' program provides social activities and outings for young people with disability aged 18+. Throughout 2015/2016 the program was held fortnightly on Tuesday evenings at the Wembley Community Centre.

CAMBRIDGE YOUTH SERVICEThe Cambridge Youth Service (CYS) provides programs and support to young people aged 12 - 25 years, who are part of the Cambridge community. CYS is the only neighbourhood youth service of its kind between Fremantle and Wanneroo. Services offered include:

Number 86 Youth Centre, situated at 86 Cambridge Street in West Leederville

Provides a place where young people can drop-in for social recreation or to access Youth Worker support. Attendance at No. 86 continued to increase throughout 2015/2016 with 2,915 recorded attendees, compared to 2,420 in 2014/2015, and 1,792 in 2013/2014;

• Professional Youth Worker Support Qualified and trained Youth Workers provide support to young people with complex needs, providing assistance with crisis management, information and referral, advocacy, psycho-social support and suicide and self-harm prevention;

• School holiday events and activities Targets high school-aged young people seeking safe, affordable school holiday activities. Across the four holiday periods from October 2015 to July 2016, 263 young people attended a holiday activity, compared with 140 in the same period the previous year.

Ongoing term-time activities

Includes Open Mic Nights, arts groups, cooking and outings;

• In-school activities Such as RUOK Day activities, information sessions and special events like suicide prevention workshops;

• Offsite events Exposure Youth Music Festival youth stalls and busker's stage at Cambridge Street Festival;

• Cambridge Youth Network A youth-led network of young people who have a pivotal role in developing and delivering youth activities including Exposure Youth Music Festival, Halloween Quiz Night and the Young Writers Competition. In 2015/2016 the CYN also collaborated with other local Youth Advisory Councils, assisting to promote and run Ampfest and attending the Youth Advisory Council Conference.


The mean age of Youth Service users remains around 18 years. Young people aged 16 form the largest user group, followed by those aged 19 and 15. There are two distinct clusters of young people who use the service:

• Those 12 to 17 years of age - interested in events and school holiday activities, and

• A more independent group in their late teens and early 20's - high-risk young people with complex needs that require more intensive support.

The ways in which the Youth Service is being accessed and used by young people is changing. Although face-to-face is still very much the major form of contact, there has been a large increase in on-line contact, from just 4% two years ago to 18% in the last year.

During 2015/2016, there was an increased emphasis on partnership and collaboration with schools and local youth advisory groups in other local government areas. In addition to regular holiday activities, Open Mic Nights and other annual events, all of which experienced a rise in participation, there were a number of new initiatives and special projects:

• The Suicide Prevention Project Funded with a grant from the Ministerial Council for Suicide Prevention, delivered SafeTALK and ASIST Suicide Prevention workshops to young people, professionals and semi-professionals working with young people and community members;

• Youth Art Workshops and Exhibition Participants were offered the chance to work with a well-known urban artist to create a piece for exhibition at the Exposure Youth Music Festival and at the Cambridge Street Festival;

• Partnerships with Churchlands SHS and Shenton College CYS is now working with school staff to provide services and events via the schools;

• Barista Training This very popular program is now offered on a more ad hoc basis to fit with young people's complex timetables;

• Young Writer's Competition The 2015 competition attracted an increased number of entries, assisted by a series of new workshops with local authors;

• Youth Leadership Camp CYN members participated in a three day leadership training camp at Fairbridge Pinjarra which focused on team building skills; and

• Expansion of Perry Lakes Skate Park Stage 2 of the redevelopment of the skate park continues, with funding grants now approved to construct an enclosed linked bowl designed to challenge more advanced skaters, plus a shade shelter, additional seating, timer-controlled floodlights, connecting paths and more landscaping. This project will be completed in 2017.

BOLD PARK AQUATICOn Saturday 28 November 2015, the new Bold Park Aquatic opened for business following a year-long $12.5 million redevelopment. The new centre designed by Donovan Payne Architects and built by Doric Group, features:

• A 10 lane 50 metre lap pool with access ramp and shaded grandstand;

• A semi-enclosed leisure pool with beach entry, teaching pod and 4 x 20 metre lanes;

• A multi-purpose room for crèche, group fitness and birthday parties;

• Accessible and family change rooms;

• An adventure playground; and

• A café and barbeque facilities.

Bold Park Aquatic was officially opened on Saturday, 12 December 2015 where invited guests witnessed Mayor Keri Shannon and Save Bold Park Action Group member Faye Boyd unveil a plaque commemorating the occasion.

The Centre caters for lap swimmers and families looking to enjoy a leisurely swim, and also provides a wide range of learn-to-swim programs, squad training and group fitness classes.

Bold Park Swim Academy commenced operating on 1 February 2016 and over the next five months took 1,803 attendances in infant classes, 9,346 attendances in the 'Swim and Survive' program and 380 attendances in squad training.

The Academy is endorsed by AUSTSWIM and Royal Lifesaving and uses the same curriculum as the Education Department to ensure continuity across swim stages. In addition, the Academy delivered exclusive in-term swimming programs to one local school.

The Centre also ran a range of fitness programs for all ages and abilities including aqua aerobics, Living Longer Living Stronger, Body Harmonics and Fab 50's. A fully staffed crèche and a range of birthday party options were also provided for families with young children.

A number of community groups regularly use the Centre including Bold Park Masters Swimming Club, Trench Sports and Floreat and Scarborough Surf Life Saving Clubs. The Centre also hosted the Education Department's Vacation Swimming program in January 2016 as well as five school swimming carnivals during February and March 2016.


COMMUNITY FACILITIESThe Boulevard CentreThe Boulevard Centre is a multi-purpose training and function venue built in 2002. Over the last 14 years it has become a popular facility for corporate training seminars, community events, group meetings and private functions.

The Boulevard Centre operated in a difficult conference market throughout 2015/2016. Despite this, the mix of user groups remained consistent with the previous year:

• Not for profit and Government funded agencies (58%);

• State and Federal Government departments (11%); and

• Commercial business or private hirers (31%).

In 2015/2016 the Centre hosted 749 events with total patronage reaching 23,491 visitors, a reduction of 23% and 31% respectively on the previous year. This drop in utilisation reflects a significant reduction in spending across the Training and Development sector.

Apart from weekly conferences and seminars, The Boulevard Centre is also a popular venue for fundraising events with sporting clubs holding quiz and bingo nights. Further, 2015/2016 was the first year The Boulevard Centre hosted the Town's annual Seniors Christmas Luncheon, which by all reports was a great hit with senior residents.

Wembley Community CentreWembley Community Centre is home to the Town's Senior Services program and is used regularly by local groups in the evenings and on weekends. As a result of the high number of community services and activities available at the centre, it received a number of significant upgrades in 2015/2016:

• A new Universal Access Toilet;

• A dedicated laundry;

• Separate store room;

• New car park bollard lighting; and

• External sealing under the eaves.

The Wembley Community Centre was closed in January 2016 during construction. Patronage in 2015/2016 was consistent with the previous year with the majority of usage by non-profit organisations (88%) and the balance coming from commercial hirers (12%).

Leederville Town HallThe Leederville Town Hall is a classic example of 'turn-of-the-century' architecture and is the Town's oldest public facility available for hire. Following last year's exhibition for the 100th Anniversary of the Gallipoli landing, many local pictures and plaques from the start of the First World War still remains on display in the hall for public viewing.

The Leederville Town Hall has a number of regular hirers that use the historic facility every week.

The Quarry AmphitheatreThe Quarry Amphitheatre, located on Oceanic Drive experienced its most successful financial year since the Town took on the management of the venue in 2009. Operating revenue increased by 14% from last year, however due to some much needed maintenance and upgrades, expenditure was also up by 23%.

The 2015/2016 performance season accommodated 77 events: 46 performance events; 7 corporate events and 24 private events. A number of regular hirers expanded their production nights while some new hirers were also accommodated. Highlights included the West Australian Ballet, Kate Ceberano, A Big Tribute to the Blues Brothers, Pete Murray and Missy Higgins.

It was also an extremely busy year for facility upgrades at the Quarry, improving the amenities and general safety of the venue. Improvements included:

• New entrance road lighting bollards;

• New roof and paint for the office building;

• Plumbing and café upgrades; and

• New digital audio desk.

Safety improvements included a new Emergency Management Plan, a working at heights platform, a rock fall prevention system and anchor points installed around the perimeter of the rock walls, plus substantial repairs to the limestone walls to repair erosion and weathering. The Quarry is looking the best it has looked in many years.

CAMBRIDGE LIBRARYAn integral part of providing access to resources is creating inviting spaces for patrons, through promoting children’s literacy, lifelong learning, access to library resources and creative expression; presenting an inclusive environment and spaces that meet the needs of our patrons; and developing a responsive culture of service within our library. By focusing on these areas, we will ensure that the Library continues to thrive and remains an important and relevant community facility

Collections

The Library provides free access to popular, timely and desirable content that is easy to find in order to make available information, knowledge and culture.

Programs

The Library offers programs, activities and learning opportunities that make a difference to people's lives in order to improve their well-being and foster community spirit. As well as traditional literary based library use, a number of community programs facilitated by volunteers are also provided, including;

• Mah-jong

• Water colour painting

• Makerspace

• Book clubs

• Quilting

• Justice of the Peace (twice weekly)


Technology The Library provides infrastructure to provide access to digital services to improve efficiencies, better customer experience and better processes. The one-on-one computer classes have continued to be very popular and successful with many of the older community members who struggle with new technologies becoming adept at using digital services.

SpaceThe Library provides an attractive, functional, physical and virtual library to provide people with spaces that are welcoming, accessible, encourage learning and enable connection.

Early LiteracyTargeting children under the age of 12 years continues to be a major focus of the library, as emerging life-long patrons. The benefits of early literacy development includes expanded vocabulary and writing skills, social and emotional development, promoting longer attention spans, enhanced imagination and critical thinking skills. To achieve these goals the library conducts programs with over 6,000 participants. The programs include:

• New Mums talks at the Wembley Community Centre

• Baby Rhyme Time for 0 - 2 year olds, monthly

• Storytime for 3 - 5 year olds, twice weekly

• Better Beginnings for Pre-primary children

• State and national literacy programs

• Children's Book Week

• National Simultaneous Storytime

• School holiday programs

Library usage 2015/2016• Library visitors 373,980 (2.6% increase)

• Total members 17,004

• Active members 13,924

• New members 2,500

• Items loaned 285,280

• Enquiries 29,904

• Online catalogue searches 235,032 (16% increase)

• Library website visits 307,213

• Interlibrary loans 7,740

• Adult/children programs 166

• Attendees to programs 8,767

Wembley Golf CourseIt was a very busy year for Wembley Golf Course with construction of the new hospitality facilities Ambrose Estate function room, 300 Acres restaurant and bar as well as a new kiosk and change rooms. The change rooms were opened in April 2016, the kiosk in May 2016 and Ambrose Estate and 300 Acres are due to opened in August 2016.

Work also commenced in May 2016 on the exciting miniature golf course. This project includes an 18 hole mini golf facility, playground, ceremony pavilions and new practice facilities. Importantly, the mini golf includes nine accessible holes for less abled people (a first for Perth). It is expected that on completion (envisaged November 2016) the miniature golf course will be one of the best in Australia.

During the reporting period the Swing Driving Range continued to perform well with nearly ten million balls hit for the year. Golf rounds played dropped to approximately 148,000 as a result of disruption that comes with a significant building project and the higher than average rainfall from April through to June 2016.

The Gallus Golf Mobile App continues to be a great success with over 6,700 downloads. This free app is available in IOS and Android and Wembley Golf Course is the first in Perth to offer this great product.

The junior program continues to be a success, with over 95 juniors participating in either the MyGolf or RGX streams. The development of juniors is an important long term goal for Wembley Golf Course.

EnvironmentalThe tree planting program continued with over 1,000 native trees being planted in non-play areas. In the past 14 years over 15,000 native trees have been planted.

As part of the tree management program, ongoing annual airborne multi-spectral imagery is used to monitor annual change in canopy and condition of vegetation, and efficacy of treatment programs. Wembley Golf Course now has 21.7% of its total tree population (predominantly Tuart trees) over ten metres in height. This represents a significant tree population within the Perth urban area.


IANBIGNELLDIRECTORDEVELOPMENT AND SUSTAINABILITY

Development and Sustainability Services fulfils Council’s responsibilities with issues relating to planning, building, environmental health, environment, sustainability and ranger services.

Strategic Planning and Town Planning Scheme review 2015/2016 During the financial year 2015-2016 a number of strategic planning projects were progressed including initial steps to commence the Town’s Local Planning Strategy. Town Planning Scheme Amendment 27 was also approved which is a major scheme amendment to facilitate future development in the West Leederville Activity Centre.

Local Planning StrategyThe Town has taken its first steps to prepare a Local Planning Strategy which will provide a framework for long-term (10 to 20 year) planning for the Town, addressing social, environmental and economic factors which affect land use and development. A project plan to guide the delivery of the project was adopted by Council in April

2016 and advertising for tenders to assist the Town in undertaking the project will occur in July 2016, after which the appointed consultants will begin to undertake research and community consultation to guide the development of the Strategy.

Town Planning Scheme Amendment 27 - Omnibus AmendmentIn June 2016, Town Planning Scheme Amendment 27 was approved by the Minister for Planning, which represented a key milestone in the implementation of the West Leederville Activity Plan and review of the Town Planning Scheme.

The Scheme Amendment introduced the following:-

• A Mixed Use Zone to encourage a mix of commercial and residential development in West Leederville on Cambridge High Street and the Southport Street Node;

• A Residential R-AC0 Zone for the area between Kimberley Street and Abbotsford Street which promotes multiple dwellings and allows for the preparation of a set of specific built form standards to control development;

• A Special Use Zone which applies to the area north of Cambridge Street between Southport Street and the bowling club to enable more detailed planning for a new link to Leederville Station and mixed use redevelopment in the area; and

• A Special Control Area over the West Leederville Activity Centre to allow for more detailed planning to be adopted under the Town Planning Scheme for the centre.

Development and Sustainability


The Scheme Amendment enables the Town to undertake further detailed planning to prepare a Local Development Plan and detailed policy provisions for the new Residential R-ACO Zone.

The Amendment also incorporates a density bonus for Wembley corner lots allowing for these lots to be developed to R30 standards if specific requirements are satisfied.

Scheme Amendment 31At a Special Council meeting on 1 July 2015, Council considered a report on the outcomes of advertising and decided to adopt the Amendment 31 in modified form. The modifications included:

• Removal of the corner lot three dwellings proposal;

• No manor houses on corner lots;

• For the manor house option, maximum two apartments on 900sqm and larger lots and two apartments plus a small one bedroom apartment on 1000sqm and larger lots (three and four apartment options removed); and

• Increased minimum lot size of 900sqm for the Cambridge Street apartments.

The modified amendment was forwarded to the Department of Planning for consideration of adoption by the Western Australian Planning Commission. The Commission considered the Amendment on two occasions at meetings in October 2015 and January 2016, after which a recommendation was made to the Minister for Planning.

On 7 April 2016, the Town received advice of the Minister for Planning’s determination in relation to Scheme Amendment 31. The Minister decided to substantially modify and require re-advertising of the modified Amendment for a period of 60 days. The changes are summarised below:

1. Manor house proposal has been deleted.

2. Corner lots density increased to R20 subject to conditions. Provides development potential for lots greater than 900 sqm.

3. All lots within the 400 metre walkable catchment of local centres (Ocean Village, The Boulevard/Gayton Road and Birkdale Street) density increased to R30 subject to conditions.

4. Cambridge Street Lots (Selby Street to Floreat Avenue) have been rezoned to allow grouped and multiple dwellings to at least R40 and to a maximum R60 density.

In response to Council decisions on the matter, the Town sought legal advice and Senior Counsel Representation in relation to the Minister’s powers to modify an amendment. This resulted in Council deciding to request the Minister reject Amendment 31, on the basis it was significantly different and did not resemble the original proposal prepared by Council.

On 5 September 2016 the Town was advised Planning Minister Donna Faragher had rejected Scheme Amendment 31.

In August, the Minister had met with Town of Cambridge Mayor Keri Shannon and Chief Executive Officer Jason Buckley, who advised the Town, has engaged consultants to progress a local planning strategy, and the Town planned to initiate a new amendment once that strategy was completed. The new amendment will address the State’s objectives with respect to density, housing diversity and infill.

Centre PlansThe draft Wembley Activity Centre Plan is being prepared to guide future development in the Wembley Activity Centre, the area focused along Cambridge Street between Marlow Street and Essex Street.

Following advertising in 2015, the Plan has been subject to review with a focus on providing further clarification and to facilitate re-advertising in order to obtain broader community input into the plan Prior to it being finalised. It is expected community consultation will occur in August/September 2016.

In November 2015 the Town’s centre planning for West Leederville was awarded a Commendation at the Planning Institute of Australia WA Awards. The Town received a Commendation in the category of the President’s Award for the West Leederville Activity Centre Plan which was recognised for its contribution to supporting the State Government’s Activity Centre strategy.

Parkside WalkA number of significant milestones were reached in the planning for development of Parkside Walk, the former Nursery Site on Salvado Road, Jolimont. In July 2015, the Western Australian Planning Commission adopted the Outline Development Plan. Design guidelines were then adopted by Council in December 2015. The subdivision plan has been approved and work is expected to commence on the site in late 2016.

Town Planning Scheme Amendment 32 - Perry Lakes EstateTo facilitate the reinstatement of planning control to the Town over the Perry Lakes Redevelopment Act area, Scheme Amendment No. 32 was prepared which rezones the land for residential purposes and reserves parts of the area for recreation, and establishes a Special Control Area. This will give force to the Redevelopment Plan and Western Australian Planning Commission approved Detailed Area Plans and Design Guidelines applicable to the area. The Scheme Amendment was approved by Council in November 2015 and is expected to be completed early in the 2016/2017 financial year.

29Development and Sustainability

Design Advisory PanelsThe Town developed a policy to introduce a Design Review Panel which was adopted by Council in June 2016 and is intended to provide the Town, Council and applicants with independent advice on the design quality and architectural merits of development proposals. Design review focuses on the incorporation of sustainability principles, streetscape presentation, pedestrian friendly environments, street orientated development, functional mixed use areas and protection and enhancement of heritage and character. The Town worked with the Office of the Government Architect which congratulated the Town on its leadership in encouraging better public amenity and residential design outcomes.

Scheme Amendments In addition to the above mentioned Scheme Amendment 27 and 32, a number of other Scheme Amendments were either advertised or gazetted as follows:-

• Scheme Amendment 29 was gazetted in October 2015 to introduce an Additional Use for Consulting Rooms (Group) at No. 210 Cambridge Street, Wembley.

• Scheme Amendment 30 was gazetted in February 2016 to introduce an Additional Use for Hospital - Special Purposes at No.61-69 Cambridge Street, West Leederville (Abbotsford Private Hospital).

• Scheme Amendment 33 was initiated by Council in August 2015 to rezone No.350 Cambridge Street, Wembley (Wembley Hotel/Cambridge Forum) from ‘Public Purpose’ and ‘Residential R20’ to ‘Local Centre’.

Policy Updates and ReviewsThe following Local Planning Policies were either introduced or updated as follows:

• Policy 5.1 - Parking - Revised parking ratios and cash-in-lieu rates.

• Policy 5.7 - Construction Management Plans - new policy to ensure construction of new development is appropriate managed.

• Policy 3.13 - St John’s Wood, Mount Claremont - new policy to address residential design for the new St John’s Wood housing estate in Mount Claremont.

• Policy 5.2 - Advertising Signs - revised to prohibit third-party advertising including large billboards and LED signage.

Statutory Planning

Planning and Development (Local Planning Schemes) RegulationsThe new Planning and Development (Local Planning Schemes) Regulations 2015 came into effect on 19 October 2015, replacing the Town Planning Regulations 1967 and the Model Scheme Text. The Regulations introduce a set of ‘deemed provisions’ which automatically apply and form part of the Town of Cambridge Town Planning Scheme No. 1. The intent of these Regulations was to bring consistency for all town planning schemes across the State.

The existing Town Planning Scheme No.1 and Town’s Planning Policies should be read in conjunction with the new ‘deemed provisions’. Where there is inconsistency between a ‘deemed provision’ and an existing scheme provision, the deemed provision will prevail.

The new Regulations also set out procedures for scheme amendments. These procedures seek to streamline local scheme amendments by adopting a ‘track-based’ approach, with different timeframes allocated for basic, standard and complex amendments.

Development ApprovalsAll development applications are assessed under the provisions of Town Planning Scheme No. 1 and associated policies. During the year, 451 development applications worth an estimated $122,256,174 were received for residential, educational, commercial, medical and infrastructure applications. The table below provides a breakdown of significant development applications received by the Town this financial year including medical, commercial, infrastructure and educational facilities:

No. of Applications

DescriptionTotal Estimated

DevelopmentCost

1 City beach sewer infill (infrastructure project) $4,800,000

6 Educational facilities $ 258,000

30 Commercial applications $2,121,806

2 Medical applications $1,130,079

Cambridge received 23 subdivision referrals from the Western Australian Planning Commission for green title, amalgamation/re-subdivision and survey strata subdivisions.

Building ServicesThe Town is responsible for ensuring that residents who apply to build new premises or make additions or alterations to premises, comply with all relevant codes, regulations and standards.

The purpose of a building approval is to ensure that structures meet National Construction Code structural and safety standards and ensure that the interests of both neighbours and the community are considered in this process. The Building Act 2011 requires segregation of applications into seven sub-categories. The Town received 336 Certified Permits, 241 Uncertified Permits, 68 Demolition Permits, 14 Building Approval Certificates, 5 Building Approval Certificates (Strata), 24 Occupancy Permits and 4 Occupancy Permit (Strata) applications during the year. Certified and Uncertified building permit applications received during the year were assessed for Town Planning Scheme compliance.


COMPLIANCE SERVICES The role of Compliance Services is to ensure that development in the Town is in accordance with planning and building approvals and that development/construction sites are maintained in a manner which does not adversely impact on the community. Compliance is also responsible for the administration of the Town’s Private Swimming Pool Inspection program.

Planning - Front FencesThere were five non-compliant front fences investigated and four planning directions issued. Of these five front fences, four were altered to comply with the Town’s policies. The remaining one front fence fell under the Perry Lakes Guidelines and was followed up by an external agency.

Planning - OtherA total of 165 other planning matters were investigated for works with no development approvals, non-compliance with the approved development approval, home occupations, short stay accommodation; and signage. There were 38 Requests to Comply notices issued for numerous non-compliant planning items. A further five planning directions were also issued.

BuildingOne hundred and one building related matters investigated. These consisted of unauthorised work with no building permits, other land adversely affected by building, damage caused by builders to neighbouring properties, verges, dangerous walls or unsafe structures. Five building orders were issued along with eight requests to comply.

Verges

Twenty-eight verge investigations were completed and 19 Request to Comply notices issued. These matters ranged from unsafe verges, storage of unauthorised items such as sheds and portable toilets and non-compliance with the Town’s policies, such as excessive paving or vegetation.

Verge PermitsSixty-eight verge storage applications were received by Compliance Officers. Of these, 63 were approved with various conditions. There were five applications refused due to verge size and obscured vision to passing vehicles.

Construction SitesThree hundred and one construction sites were investigated for a range of issues such as storage of materials, dust, rubbish, noise and unsightly unsafe sites. There were 57 Request to Comply notices were issued. The Town issued two infringement notices to builders.

Private PropertyOne hundred and ninety-four other investigations relating to private property occurred. These included stormwater and pool water discharge, sand drift, disused materials, unsightly land, boundary fences and a range of miscellaneous items. Thirty-six Requests to Comply were issued.

Private Swimming Pool inspectionsCompliance officers undertook 1,481 private swimming pool inspections for compliance with the Australian Standards. Three infringements were issued for non-compliant swimming pool enclosures.

Construction Management PlansOn 22 September 2015, Council adopted a Policy - Construction Management Plans. The Town requires careful management of large developments projects to ensure appropriate consideration is given to the planning and management. The requirement for a Construction Management Plans (CMP) may be specifically stated in the planning approval, or otherwise required by the Town, in situations:

1. Basement excavations;

2. Demolition of more than two storeys;

3. External works with a value greater than $1 million;

4. Where traffic or pedestrian management measures are required;

5. Where there is a likelihood of damage to local government property; and

6. Any other case where the Town considers a CMP should be provided due to the nature of the work, or locality, or where the amenity of the area is likely to be disrupted or adversely affected.

At the Council meeting held on 23 February 2016, Policy No: 5.1.5 “Street Tree Protection During Development” was adopted to require protection of verge street trees adjacent to developments.

Construction Management Plan approvals:

Item 2014/2015 2015/2016

Major development 4 1

Medium development 1 7

Minor development 0 7

Total 5 15


Environmental Health ServicesThe Town’s Environmental Health Officers (EHOs) undertake routine and proactive initiatives to ensure the community and the environment are protected from unnecessary hazards. Public health is often taken for granted however it is only through ongoing programs such as food premises inspections, food hygiene education, routine and complaint based food sampling, vermin control and customer requested health investigations that we enjoy a high standard of public health.

Food Premises The following tabulates those results:

Health Item 2011

/ 201

2

2012

/201

3

2013

/201

4

2014

/201

5

2015

/201

6

Food premises inspections 343 259 345 338 361

Health registrations/permits

54 31 52 55 51

Food Stallholder permits - 1 day events

63 79 90 134 181

Food Stallholder permits - 6 month 4 10 2 3 4

Outdoor Eating Area permits 13 7 5 23 26

Food fit out permits 3 7 11 10 10

Food Complaints and Food SamplingEnvironmental Health Officers dealt with 15 complaints alleging sub-standard food which required investigation with the vendors and manufacturers.

The Town continued to participate in the WA Food Monitoring Program in conjunction with the Department of Health. Chemical analysis is undertaken to monitor compliance with the Food Standards Code, and microbiological analysis to examine standards of food production hygiene. The Town is a member of the Food Monitoring Group (FMG), which consists of representatives from the Department of Health, the Local Health Authorities Analytical Committee and various Local Government Authorities.

Health Promotion, FoodSafe ® and I’m Alert Food Safety Training ProgramHealth promotion activities continued individually with residents, such as the investigation of rodent complaints, and with food businesses, such as the promotion of FoodSafe ® and “I’m Alert” on-line training program. The Food Act requires that food businesses serving food to vulnerable persons have an approved Food Safety Plan in place. ‘Vulnerable persons’ predominately encompasses businesses serving food to residents at hospitals, aged care facilities and child care centres.

Food Premises and Stall Holder’s Permits361 routine inspections of food premises in the Town were undertaken in the year to ensure compliance with general hygiene and food handling practices. Environmental Health Officers liaise with promoters of sporting and large community events to maintain acceptable standards for food safety and hygiene. A total of 181 stall holder permits were issued during the period. 79 inspections of food stalls and food vans were undertaken to ensure compliance with the relevant legislation.

Health General - complaints92 general health or environmental complaints were received and investigated.

Effluent Disposal Systems/Sewer In-fill

During the year the State Government’s advised Water Corporation a sewer in-fill program would commence to approximately 310 properties in City Beach. Seven applications for new septic tank effluent disposal systems and aerobic treatment units were approved in the year.

Noise Control and Environmental Protection A total of 139 environmental or domestic noise related complaints were received during the year.

Rodent Control137 packets of free rodent bait were issued to residents.

Midge Control There were two recorded complaints regarding midge nuisance in Lake Monger Reserve.


Public Swimming Pools and Ocean Water Sampling91 samples of water from ten public and institutional swimming pools located within the Town were analysed for microbiological and chemical water quality assessment. In partnership with the Department of Health, routine sampling of ocean water at Floreat and City beaches continued during the summer months. Twenty-nine (29) samples were submitted for analysis. All were found to comply with the microbiological requirements for recreational waters.

Public Building InspectionsIn 2015/2016, 35 public buildings were inspected for compliance with the Health (Public Buildings) Regulations 1992. Particular attention was paid to emergency exit doors, locks and signage, emergency evacuation plans, fire prevention and control, and required documentation. Premises identified with non-compliances are subject to follow-up inspections to confirm compliance with the required regulations.

ImmunisationInfluenza vaccinations for Town of Cambridge employees were conducted through the new LGIS Health and Wellbeing program and provided by Spot screen. This year, 69 Council employees were immunised through the staff influenza vaccination program.

Infectious Diseases Environmental Health Officers are no longer required to investigate infectious diseases notifications due to sophisticated clinical analysis techniques used by the Department of Health.

Health Orders and Notices issuedDuring 2015/2016, a concerted effort was made to address a number of long standing complaints relating to sub-standard housing and untidy and overgrown yards containing disused materials. As a result of this effort:

Three Health Act 1911 Section 135 Notices for Unfit Houses were issued.

Four Section 137 Health Act 1911 Notices for Repair or Amend substandard houses were issued.

Four Local Government Act Notice were issued. These Notices related to:

• Unkempt and untidy land/accumulation of disused materials/ overgrown vegetation (2);

• Unauthorised structures on local government land (1);

• Intrusive ‘light spill’ causing a nuisance (1).

Ranger ServicesThe Town’s Rangers continued to contribute in a positive way to the security and orderly conduct of the Town. Key activities and achievements are detailed below.

ParkingParking control and enforcement activities is a major operational activity for Ranger Services Staff. The table below provides statistical information about parking control activities during 2015/2016 and comparative information from the previous years:

Item 2011

/ 201

2

2012

/201

3

2013

/201

4

2014

/201

5

2015

/201

6

Parking infringements issued

9,543 9,940 7,011 8,826 9,469

Written cautions issued 1,225 1,124 1,306 922 968

Parking infringement appeals

1,019 1,225 839 1,111 1,121

Parking infringements withdrawn

650 734 469 623 697

Parking prosecutions 3 2 2 3 2

Residential Parking PermitsInformation about the Residential Parking Permit System is provided to residents in areas where new restrictions were introduced. As at 30 June 2016, 1,196 Residential Parking Permit applications had been processed.

Parking AgreementsThe Town has agreements in place where Rangers enforce the Parking Local Law at private parking facilities. Ranger Services undertook parking compliance inspections at 128 private car parks on behalf of businesses and residential owners.

Abandoned vehiclesRangers attended 81 reports of abandoned vehicles; of these 11 vehicles were impounded and sold after owners failed to collect the vehicles within 60 days. The remainder of the vehicles were moved by their owners.

Beach SafetySurf Life Saving WA, (under contract to the Town), monitors beach safety and provides lifeguard services for beach users at both City Beach and Floreat all year round. During the 2015/2016 season, beach lifeguards and volunteer lifesavers recorded the following incidents:

Incident 2015/2016

Preventative actions* 11,835

First aid 1,304

Rescues 63

* Preventative action is any action which may have prevented injury or incident to another person.


Dog ControlCommunity education on responsible dog ownership continued; pamphlets were distributed with all dog registration renewals forms to local residents within the Town. The Town maintained its association with the Shenton Park Dogs Refuge Home as the Town’s dog pound. There are 2,968 dogs registered with the Town of Cambridge. The following table provides information about dog control activities during 2015/2016:

Activity 2011

/ 201

2

2012

/201

3

2013

/201

4

2014

/201

5

2015

/201

6

Dogs Registered 2,683 2,765 2,871 2,826 2,968

Dogs impounded 58 60 47 70 70

Dogs claimed by owners 58 53 38 59 59

Dogs held for sale 0 7 8 7 7

Dog attack complaints 19 18 34 29 45

Nuisance dog complaints 40 51 48 68 63

Dog wandering reports N/A N/A N/A 148 140

Dog infringements 32 295 115 54 52

Dog cautions 18 264 448 406 286

Dog prosecutions

1X2

offe

nces

1x3

offe

nces

1X2

offe

nces

1X2

offe

nces

1x1

offe

nce

1X1

offe

nce

1X10

off

ence

s1X

1 of

fenc

e

Cat ControlThe Cat Act 2011 came into effect on 1 November 2013 and requires all cats be registered, and young cats be sterilised prior to registration. There are 756 cats registered with the Town of Cambridge. The following table provides information about cat control activities during 2015/2016:

Item 2013

/201

4

2014

/201

5

2015

/201

6

Cats registered 590 655 756

Cats impounded 2 10 6

Cats claimed by owners 0 8 3

Cats held for sale 0 0 0

Cat infringements 0 1 1

Cat cautions 0 7 1

Bush Fire Control208 Bush Fires Act notices were issued to owners of residential and vacant land to clear their land of any fire hazard and flammable material. All lands assessed as being non-compliant were made compliant to the Town’s standards. Two infringements were issued and three properties cleared by a contractor costing $2,050. Contractor costs are payable by the property owner.

Litter Control12 Litter Act Infringements notices and three cautions were issued.

Sustainability ServicesIn accordance with the Town’s Strategic Community Plan, Cambridge embraces the principles of sustainability when making decisions to balance the needs of both current and future generations through environmental protection, social advancement and economic prosperity. The Town aims to be environmentally responsible and lead by example.

Community InitiativesAnnual Spring and Autumn workshops held at the Town of Cambridge Administration Centre were presented by Beyond Garden, Birdlife WA and Great Gardens and covered subjects such as water wise gardening for local soils and climate and productive gardening. Birdlife WA presented workshops on local birdlife followed by field days. Odd Fodder also presented a very engaging and practical workshop on cultivating superfoods.

The Town hosted the Lake Monger Markets on Saturday, 25 October 2015 as part of the Garage Sale Trail. Locals browsed 140 stalls plus enjoyed the range of food options, family fun and entertainment also on offer. The annual event promotes the reuse of items to reduce waste going to landfill. School holiday nature based activities were held in conjunction with Botanic Gardens and Parks Authority and the Naturalist Society and included school holiday Sunset Stalks at Bold Park and a Frog Stalk at Perry Lakes.

From June 2015 the Town offered free eco-audits to Cambridge residents. With help from an auditor the program helps residents become aware of their energy and water consumption and provides advice on how to reduce it. The program has been very popular with all available audits booked.

Western Suburbs Regional Organisation of Councils (WESROC) PartnershipThe Town of Cambridge has sold more than 20,000 plants over the past nine years and is the WESROC Council with the highest uptake during the annual Native Plant Subsidy Scheme. A 100% uptake was achieved this year with more than 3,000 plants purchased.


Switch Your Thinking ProgramResidents and businesses are eligible for discounts on products such as rainwater tanks, pool covers, insulation paint, eco products, energy and water audits and green printing. A rebate on Solar PV systems was added this year. The Town continued to support the annual Young Inventor of the Year competition to raise awareness of the value of recycled materials and reducing waste to landfill. Programs were run in conjunction with the Cambridge Library during school holidays.

Community GardensThe Town is fortunate to host two Community Gardens, the West Leederville Community Garden has been thriving since June 2007 and the Lake Monger Community Garden was recently established and is making excellent progress. These gardens provide a local hub for residents and play an important role in creating thriving communities.

Community GroupsThe Town works with several community groups which help care for the natural environment. These groups perform a vital role in improving and protecting the natural areas where they generously volunteer their time.

Cambridge Coastcare - continued their great work and planted over 5,500 plants this year.

Friends of Bold Park - with funding from the Town, hosted the Friends of Bold Park Open Day and assist with community nature activities. Friends of Roscommon Park - the ongoing support of the group helps maintain the biodiversity value of this important piece of remnant bushland.

Waste Management InitiativesWorm farm and compost bin rebates are available to residents from March to May annually. The program aims to reduce organic waste transferred to landfill.

Sustainable Schools ProgramAssistance is provided to teachers to integrate sustainability into their lessons through the Town’s Sustainable School programs. Lake Monger Primary School received a grant from the Town to install a bushfood garden.

Energy EfficiencyTwo photo voltaic solar systems have been installed at the Town’s facilities. The 30kW system at the Administration Centre has ensured an average of 30 tonnes of carbon emissions was avoided per year, since installation in September 2014. The 10kW system at the Library, installed in June 2011, avoids approximately 13 tonnes of carbon emissions per year. Solar evacuated tubes were installed at Bold Park Aquatic.

Water Efficiency and Quality MonitoringThe Town was one of the first local governments to be Water Corporation endorsed Waterwise. Wembley Golf Course has been a Waterwise Golf Course with Gold Status since 2014. Endorsement will be sought for the newly developed Bold Park Aquatic. Corporate scheme water use has trended down at a rate of 1,567kL per year since 2000. The Town has reduced water use by 40%, surpassing the Water Corporation’s Perth target of 15% reduction between 2001 and 2030.

BiodiversityBiodiversity initiatives in 2015/2016 included Biodiversity Action Plan works, Arbour Day, community plantings and the Native Plant Subsidy Scheme. In the past year a weed control and revegetation program has been undertaken at Chipping Park, Roscommon Park, the Quarry Amphitheatre and Templetonia Park. A total of 3,000 seedlings were planted across the reserves.

Travel Smart The Town’s Travel Smart program encourages local schools, staff and the community to choose sustainable transport options such as walking, cycling, public transport and carpooling, reducing traffic congestion and making our community more active and safer.

A number of schools received funding for walk and cycle to school event days where students enjoyed a healthy breakfast when they arrived at school including Bold Park Community School, City Beach Primary, Floreat Park Primary, Holy Spirit Catholic Primary, The International School, Wembley Primary and West Leederville Primary.

Waste Management InitiativesWorm farm and compost bin rebates are available to residents from March to May annually. The program aims to reduce organic waste transferred to landfill by helping residents utilise their household waste to generate organic material that can be used to build a healthy soil and garden. The program has been running for four years and around 130 residents have taken advantage of the rebates.

Assistance is provided to teachers to integrate sustainability into their lessons through the Town’s Sustainable School programs. Lake Monger Primary School received a grant from the Town to install a bushfood garden and Steve McCabe from Beyond Gardens assisted with setting up the garden.


Energy EfficiencyTwo photo voltaic solar systems have been installed at the Town’s facilities. The 30kW system at the Administration Centre has ensured an average of 30 tonnes of carbon emissions was avoided per year, since installation in September 2014. The 10kW system at the Library, installed in June 2011, avoids approximately 13 tonnes of carbon emissions per year. Further Installation of more renewable energy systems is being investigated.

Solar evacuated tubes were installed at Bold Park Aquatic. Electricity usage is being monitored through a metering and monitoring system, providing detailed consumption figures to optimise use.

Total electricity consumption and carbon emissions for the Town’s facilities is monitored through the Greensense Greenhouse Gas Emissions Platform.

Water Efficiency and Quality MonitoringThe Town was one of the first local governments to be Water Corporation endorsed Waterwise. Wembley Golf Course has been a Waterwise Golf Course with Gold Status since 2014. Endorsement will be sought for the newly developed Bold Park Aquatic.

Corporate scheme water use has trended down at a rate of 1,567kL per year since 2000. Relative to the base year of 2000 the Town has reduced water use by 40%, surpassing the Water Corporation’s Perth target of 15% reduction between 2001 and 2030.

Community consumption has been stable since 2011 with an average of 3,400,00kL per year being consumed. Residents are encouraged to use pool covers and water efficient appliances to reduce consumption. Converting verges from lawn to native waterwise gardens is encouraged through the Native Plant Subsidy Scheme and various gardening workshops to educate the community about waterwise gardening.

BiodiversityBiodiversity initiatives in 2015/2016 included Biodiversity Action Plan works, Arbour Day, community plantings and the Native Plant Subsidy Scheme.

Rehabilitation works continued under the Town’s Biodiversity Action Plan. In the past year a program of weed control and revegetation has been undertaken at Chipping Park, Roscommon Park, the Quarry Amphitheatre and Templetonia Park. A total of 3,000 seedlings were planted across the reserves.

Reducing community water consumption is encouraged by planting local native species on verges and in gardens. Town of Cambridge residents were invited to participate in the Native Plant Subsidy Scheme conducted through the Western Suburbs Region of Councils (WESROC). The annual scheme which runs during May offers local residents the opportunity to purchase up to 80 native seedlings from APACE nursery in North Fremantle for $1.50 per plant. one hundred per cent of the seedlings were purchased.

Travel Smart The Town’s Travel Smart program encourages local schools, staff and the community to choose sustainable transport options such as walking, cycling, public transport and carpooling.

The Town worked with schools to encourage students to walk and cycle to school - helping to reduce traffic congestion and make schools safe, happy and active places. A number of schools received funding for walk and cycle to school event days where students enjoyed a healthy breakfast when they arrived at school. Bold Park Community School, City Beach Primary, Floreat Park Primary, Holy Spirit Catholic Primary, The International School, Wembley Primary and West Leederville Primary.


Asset ManagementThe Council is custodian of a portfolio of infrastructure assets valued at more than $300 million. As custodians of public assets, good governance requires the Town to have a strategic approach to asset management. We continued to improve the way we manage infrastructure assets by adopting a systematic approach in accordance with the guidelines set out in the International Infrastructure Management Manual (IIMM 2011)

In the upcoming year, the following activities are planned

• Development of a 10 Year Long Term Capital Works Program

• Undertake a maturity assessment of the Town’s asset management’s systems approach

• Review and update the Town’s existing Strategic Asset Management Plan.

• Adopt asset management practices aligned to international standards ISO 55001

During the reporting period, the Town continued to comply with the State Government’s Integrated Planning and Reporting requirements. The Town has completed the revaluation of all assets associated with its plant and equipment, using fair value practices.

The Town continues to update its Asset Management software program AssetFinda to facilitate the development of its Asset Management Plans and to provide accurate renewal requirements for the next 10 years.

Condition assessment surveys of all Town buildings commenced and a program based on a whole of life cycle approach for maintaining its key assets in good condition is progressively being implemented.

Throughout the year, Council has continued to responsibly manage its asset management programs and incorporate ecological design features into its projects wherever possible. Examples of sustainability initiatives incorporated into its asset replacement programs are outlined below:

• LED lighting installed to the Library and Depot

• LED Lighting installed to parks and recreation areas

• Installation of evacuated solar tube heating panels at Bold Park Aquatic

Evacuated solar tube heating panels were installed on the roof of Bold Park Aquatic to help reduce carbon emissions.

Infrastructure

37Infrastructure

DIRECTORINFRASTRUCTURE

COLYERCHRIS

Building Capital Works ProgramThe Town has completed a number of capital works projects in 2015/2016 including:

• Replacement roof at Floreat Surf Life Club

• Replacement of main electrical distribution board - Henderson Park toilets and change room

• Replacement windows and frames - Henderson Park toilets and change room

• External brickwork repairs, and rendering to Henderson Park toilets and change room

• Asbestos removal program across the building portfolio

Road ResurfacingThe Town has 172km of sealed roads, which depending on traffic loading, are ideally resurfaced every 20 - 30 years. During the year, 7.9km of road was resurfaced at a total expenditure of $1,967,000. The major projects were grant funded and were located on Donegal Road, Essex Street, Launceston Avenue and Railway Parade.

LanesAtterton Lane, Jacobsen Lane and Piper Lane, located adjacent to Grantham Street in Wembley, were improved by constructing a pavement, sealing, kerbing and installing drainage. Loveridge Lane, Crofts Lane and Waddington Lane are in progress. Funding for all six lanes was $1,102,000.

Stormwater DrainageThe Town maintains a network of 101km of stormwater pipes and 5,352 drainage pits that transfer stormwater into a combination of 22 sumps, four lakes and four Water Corporation main drains. An improvement program commenced in 2011 to address flooding issues which occurred during the intense storms of March 2010.

Eleven improvement projects were completed on Clune Avenue, Joseph Street, Moray Avenue, Oxford Close, Oceanic Drive, Glengariff Road, Holland Street, Reserve Street, Marlow Street, Kavanagh Street and Levitt Lane. Another four projects were designed for Chipping Road, Railway Parade, McCourt Street and Keane Street for construction in 2016.

The total expenditure on all drainage works was $764,000.

Footpaths and Shared PathsThe Town continued to improve its network of 156km of footpaths and 33.5km of shared paths in accordance with its Footpath Improvement Program and Bike Plan with a total expenditure of $690,000. A total of 5.28km of old slab footpaths was replaced with concrete paths. A new path was constructed on Kavanagh Street.

Bus SheltersThe Town currently has 200 bus stops and 86 bus shelters. Another 20 bus shelters are provided by Adshel Pty Ltd in return for advertising rights on those shelters. The Department of Transport upgraded 120 bus stops with a raised concrete hardstand that complies with the current disability service standards. In association with this project, the Town replaced nine old shelters with new shelters on the new hardstands for a total cost of $61,000.

New replacement roof installation at Floreat Surf Life Saving Club.

Road Work ProjectsThe total expenditure for improving the road system was $1,367,000. Significant projects included:

• Salvado Road - roundabout at entry to St John of God Hospital

• Cambridge Street - widened median island for pedestrian crossing near Oxford Close.

• Replacement of chicanes with speed plateaus in Daglish, Essex, Holland, Jersey, McKenzie and Pangbourne streets

• Traffic island in Bent Street near Chipping Road.

• Grantham Street - pedestrian crossing at McKenzie Street

• Kerb replacement in Nanson Street, Jukes Way, Railway Parade, Cambridge Street and MacEwan Street


Engineering DesignThe Engineering Design section supports the operations of infrastructure works, planning, waste management and parks with the preparation of detailed designs and development plans.

• Activities to prepare future programs and formulate efficient asset management included:

• Liaison with adjacent councils and government authorities, such as Perth Transport Authority and Main Roads WA on traffic management issues;

Laneway construction

Salvado Rd Roundabout construction

Salvado Road roundabout at the

St John of God Hospital entry

Pedestrian crossing improvements on

Grantham Street east and west of McKenzie Street

Examples of some recently completed design projects include the following:

• Collection of traffic speed and volume data on Town roads;

• Assessment of traffic crash statistics and preparation of designs of treatments to improve safety and reduce vehicle, bicycle and pedestrian accidents;

• Recommendations on traffic management proposals to improve safety and amenity of residents;

• Liaison and consultation with residents and other road users on traffic related issues;

• Assessment of residential and commercial development planning proposals in relation to traffic and safety issues;

• Assist with the preparation and implementation of the Building Management Program for the maintenance and enhancement of the Town’s public buildings;

• Establishing a forward works program of well-planned design projects which builds on relationships and funding from State and Federal Government;

• Proposing and implementing parking restrictions in order to manage road safety and amenity issues.

• Review proposed development plans for land development at the Salvado Road former Nursery site and Area G in Mount Claremont;

• Developing concept plans for future Blue Sky road and parking improvements which aligns with Perth Transport Plan for 3.5 million and Beyond;

• Town of Cambridge 2017 - 2022 Bike Plan. The Town is currently managing the development of this plan with Cardno Consulting Engineers.

39Infrastructure

Existing tree to be removed

Existing tree to be retained

Proposed tree

Concrete paving

Picnic setting

Boardwalk

Rubber softfall (impervious)

Laterlite gravel (pervious)

Irrigated turf

Verges to be dry grass

Limestone wall

Concrete kerb

900 high fencing

Existing transformer

Bubble up

Drainage improvement projects across the Town aimed to alleviate localised runoff issues. Sites included the following:-

• McCourt Street/Woolwich Street - involves replacing the playground. An underground detention system to cater for approximately 1150m2 has been designed to assist with major storm events while also providing a shallow overland drainage swale path for storm water. (Council will consider design and estimated costs in 2016).

• Cambridge Street/Oxford Close drainage design improvements

• Louth Road/Glengariff Drive drainage improvements

• Clanmel Road drainage improvements

• Chipping Road, Catesby Street, Felton Street, The Boulevard access road drainage project

• 11-21 Harborne Street drainage project

• Railway Parade/McCourt Street drainage project

• Oceanic Drive - Tullow Road to Bold Park Drive drainage project stage 1

• Ruislip Street - Marlow Street drainage project

Laneway designs:

• Atterton Lane

• Loveridge Lane

• Piper Lane

• Waddington Lane

• Crofts lane

Preparation for future design proposals is underway for some future projects:-

• Grantham/Harborne intersection to help reduce traffic accidents

Black Spot projects at the following sites:

• Oceanic Drive/Bold Park Drive

• Oceanic Drive/Marapana Road

• Cambridge Street/Gregory Street

• Grantham Street/Marlow Street

• Loftus Street/Macewan Street

Cambridge Street - Oxford Close - Green CAT pedestrian improvements: This project involved negotiating and securing $50,000 from Public Transport Authority PTA in order to design and deliver a wider and more expansive protected central median in order to improve pedestrian safety.


Waste Management The Town provides a comprehensive waste and recycling service designed to make it easy for residents to conserve natural resources and reduce waste destined for landfill. The Town has continued to encourage residents to aim for Maximum Recovery with an overall goal of increasing recycling rates through the kerbside three bin system to achieve the Waste Authority’s target of 65% waste diverted from landfill by 2020.

The Town provides residents with the following waste services: -

• Best practice three bin collection system, weekly landfill and fortnightly recycling and green waste;

• two annual bulk verge and bulk green waste collections;

• weekly on request mattress collection;

• two e-waste drop off days annually;

• two charity donation drop off days annually;

• four recycling drop off points for items that should not go in the kerbside bins; and

• additional recycling collections at Christmas.

Waste Education Campaign The Town’s recycling service has been extremely successful thanks to a commitment to waste minimisation initiatives and education. The Town’s Maximum Recovery campaign demonstrates that we now have a best practice waste collection system and are encouraging residents on how we can achieve Maximum Recovery.

Key focus areas of the Maximum Recovery campaign are:

• Improving the environment by recovering more resources through household recycling;

• Encouraging residents to lead by example and adopt sustainable living as a standard;

• Maximising the amount that can go into the recycling bin; and

• Encouraging behavioural change and perceptions toward recycling.

The Town continues to promote a simplified message about what can go into the recycling bin - anything that is paper, cardboard, metal, glass or plastic.

Mattress Recycling Through the no charge mattress collection program, the Town diverted 1,077 mattresses from landfill this year which translates to approximately 43 tonnes in weight. Mattresses are deconstructed and materials repurposed.

Recycle Stations In September 2015, the Town commissioned four new portable recycle stations for items that should not be placed in the recycling bin. The stations are in place for residents to dispose of fluorescent tubes, light globes, printer cartridges, batteries and mobile phones, and are located at;

• Town of Cambridge Administration

• Cambridge Library

• Wembley Community Centre

• Bold Park Aquatic

Public Space Recycling In October 2015, the Town introduced new dual bin enclosures at City Beach and Floreat Beach. The bins have been well received by beach goers and have added a much needed visual upgrade to the previous wheelie bins which lined our coast. The bins were chosen based on functionality and to fit in with the design of the new surf club development.

Garage Sale Trail On Saturday, 24 October 2015, the Town organised the annual Lake Monger Market. Attendance was estimated to be 3,000 plus and the event had a great community atmosphere. There was entertainment from local choirs and theatre groups, cultural workshops, a variety of waste education and sustainability focused stalls, activities and food vans.

E-Waste Drop-off Days The Town hosts e-waste drop off days twice annually which allows residents to recycle unwanted electronic items such as TVs and computers. The Town diverts an average of 15 tonnes of waste from landfill at each of these events which are held in February and September to coincide with the bulk verge collection.

Charity Drop-off Days At the 26 April 2016, Council resolved to cease support for placement of charity donation bins on public land. The Town, like many other councils, Cambridge has experienced issues with charity donation bins on public land becoming spaces which encourage anti-social behaviour, accumulate litter and instigate illegal dumping. In lieu of Charity donation bins the Town held a Charity Drop-Off Day on Saturday, 11 June 2016 with nearly nine tonnes of clothes, textiles and shoes collected for charity. A steady procession of over 400 cars navigated the Administration Centre car park to donate goods to the participating charities - Vinnies, Salvos, Anglicare, Spine & Limb and Good Sammy’s.

Additional Recycling at Christmas For the past four years the Town has provided residents with three consecutive weeks of recycling over Christmas to help to dispose of the additional waste generated over this period. The program has been well received by residents and contributed to a 4.7% increase in recycling in December 2015.

Better Bins Campaign The Waste Authority allocated a grant of $216,690 to the Town to spend on projects which will add value to our current kerbside collection service.

41Infrastructure

Statistics

At the end of the reporting period the following data was recorded to reflect the Town’s recycling rate compared to historic data and the desired target.

Recy

clin

g Co

llect

ion

(Ton

nes)

Gree

n W

aste

Col

lect

ion

(Ton

nes)

Gene

ral W

aste

Col

lect

ion

(Ton

nes)

Tota

l Col

lect

ion

(Ton

nes)

2009/2010 3,494 9,416 12,910

2010/2011 3,731 8,750 12,481

2011/2012 3,550 532 8,588 12,670

2012/2013 3,543 1,438 7,639 12,620

2013/2014 3,649 1,797 7,210 12,656

2014/2015 3,726 2,148 6,852 12,726

2015/2016 3,803 2,326 6,691 12,820

Change 77 178 -161 94

ParksCambridge has some of Perth’s most beautiful public open spaces, including Lake Monger and Perry Lakes reserves together with City and Floreat beaches. The Town also maintains many active recreational and bushland parks and landscaped road reserves, including street trees.


Landfill Greenwaste Recycling

Was

te A

utho

rity

2015

Targ

et

50%

50%

Was

te A

utho

rity

2015

Targ

et

65%

35%

2011

-12

4.2 %

28%

67.8%

2012

-13

11.4 %

28.1%

60.5%

2013

-14

14.2 %

28.8%

57%

2014

-15

16.9 %

29.3%

53.8%

2015

-16

18.1 %

29.7%

53.2%

2009

-10

27.1%

72.9%

2010

-11

29.9%

70.1%

100 %

90 %

80 %

70 %

60 %

50 %

40 %

30 %

20 %

10 %

00 %

General ImprovementsThis year works included:-

• Landscape improvements at Floreat Beach Park;

• Completion of final stage of a three stage program to improve the structural integrity of the City Beach Groyne;

• Upgrade of park facilities at Templetonia Park including additional seats, a new drinking fountain and fence;

• Renovation of the turf playing surface at Floreat Oval and Alderbury Sportsground;

• Replacement of shade sails, equipment and sand at various playgrounds.

• Installation of a new basketball/netball facility and resurfacing of the carpark at Grantham Park;

• Installation of a new drinking fountain at Bent Park

• Installation of additional fencing to the boundary of Cowden Park;

• Remarking of carparks at various locations

Lake Monger ReserveThis regional recreation reserve is an important conservation wetland, a significant Aboriginal heritage site and is one of the Town’s most popular destinations for passive and active recreation. The Lake Monger Reserve Management Plan 2008-2018 and its Implementation Program underpin the management of the reserve.

In addition to the day to day maintenance works undertaken to maintain this reserve to a high standard, the following improvements were also completed:-

• Installation of the final stage of LED security lighting along Lake Monger Drive;

• Installation of entry statement signage;

• Arboricultural tree management works including tree planting throughout the reserve to improve biodiversity, safety and long-term viability of trees;

• On-going management of the bird refuge island and the vegetated channel, jointly funded by the City of Vincent and Main Roads WA;

• Continued partnership arrangement with the University of WA to provide water quality monitoring to detect seasonal trends and to predict the lake’s ecological health;

• Lake rehabilitation works were again undertaken on the western edge of the lake as part of the Lake Monger Ecological Restoration Program and included replacement of exotic vegetation with native wetland plants. This was stage three of a six stage program where around 3,000 trees and shrubs were planted;

• The Arbor Day planting event was organised at Lake Monger this year which included local primary school students planting around 300 trees and shrubs.

Perry Lakes ReserveThis regional reserve provides tranquil bushland surroundings for passive and active recreation. It is the perfect spot for a quiet barbecue or to just take a stroll amongst the many local native tree species dotted throughout the reserve. The Perry Lakes Reserve Environmental Management Plan and Implementation Program guide improvement works around the lakes.

This years works included:

• Installation of barbecue/picnic facilities at the south east area adjacent the new playground next to Meagher Drive;

• On-going control within the lake of invasive exotic weed species to improve water quality and biodiversity;

• Arboricultural tree management works to improve safety and long term viability of trees.

Water Conservation PlanThe Town manages its allocated ground water resource for irrigation in accordance with the Water Conservation Plan. Cambridge Council continued to be a leader in its efficient use of water for irrigation.

There are currently 189 hectares under irrigation which are managed using industry best practice methods including:

• Hydrozoning of parks to apply only the required amount of water based on the need and use of the park. A weather station and a central control system ensure continuous monitoring of the weather and only applies irrigation when turf and plants need it;

• Ecozoning of parks to promote biodiversity and conserve water;

• Servicing and replacement of various irrigation bores and pumps including the treatment of selected bores for iron bacteria to maximise their efficiency;

• Monitoring ground water quality from bores to ensure suitability for irrigation;

• Participation in the development of best practices in turf management with other local governments and the University of Western Australia Research Centre;

• Calibration of groundwater flowmeters to ensure their accuracy and compliance with the Department of Water.

Coastal Natural Areas Management PlanIn accordance with this Plan, rehabilitation works, including removal of woody weeds and planting of numerous tube stock plants, specially grown from local provenance seed collected from the local dunes, were undertaken in the Town’s coastal dunes.

These on-going works, undertaken with the assistance of Cambridge Coastcare, aim to improve biodiversity values in the Town’s coastal dunes. Other works included the maintenance of the beach access paths and adjacent fencing to ensure the protection of the coastal dunes.

43Infrastructure

Street Trees Treescape Plan 2010-2020Trees are one of the Town’s most important natural assets and are regarded as critical urban infrastructure. The Town’s street trees are managed in accordance with the Treescape Plan. The purpose of the Plan is to:

• Develop attractive treescapes for every street in the Town;

• Increase the Town’s overall tree canopy area each year;

• Improve the visual appeal of commercial centres; and

• Foster community awareness of the importance of street trees and so create a sense of pride in the quality of streets.

To achieve the purpose of the Plan, Council adopted the Priority Streets and Precinct Streets Planting Programs. These programs aim to achieve entire street improvements and increase street tree numbers from 14,000 to 18,500

by 2024. 2015 saw completion of year three of the planting program with a total 970 trees planted since the program commenced.

Other significant programmed works undertaken included the Ficus Hillii Management Program, The Boulevard Pine Trees Management Program and the Phoenix Palm Management Program.

Park Trees and Landscape ImprovementsParks and gardens in the Town are some of the most beautiful in Perth. Trees and shrubs growing in these areas contribute to making up the Town’s urban forest. A significant amount of minor tree and shrubs works are undertaken on a day to day basis within the Town’s parks to keep these assets alive, healthy and safe.


375number of trees to

plant per year

359trees planted

in year two (2014)

355trees planted

in year one (2013)

256trees planted

in year three (2015)

400

350

300

250

200

150

100

50

0

Street Tree Planting Program Results / Targets

14,000tree numbers prior to commencing of tree

planting programs

4,500proposed increase

in tree numbers

18,500tree numbers estimated at

completion of programs in 2024 (12 years)

total trees planted year to date 2015

970

20,000

18,000

16,000

14,000

12,000

10,000

8,000

6,000

4,000

2,000

0

Garden Awards 2015The 20th annual Garden Awards were held in November 2015� The awards were established in 1996 to recognise front gardens, inclusive of the verge, within the Town that are well maintained, aesthetically pleasing and contribute to the Streetscape�

All gardens considered for an award must be visible from the road and comply with the spirit of the Town’s Road Verge Landscaping and Maintenance Policy� The judging panel looks for well-maintained verge and private property front gardens, including those that require minimal water use�

The following were awarded:

45Infrastructure

Highly Commended Water Wise Front Garden 9 Arbordale Street, Floreat

Best Residential Front Garden27 Keane Street, Wembley

Highly Commended Residential Front Garden 13 Turriff, Floreat

Best Water Wise Front Garden 34 Peebles Road, Floreat

Best Commercial/Group Housing Front Garden 24 Salvado Road, Wembley

Highly Commended Commercial/Group Housing Front Garden - 85 Reserve Street, Wembley

Elected Member ConductSection 5.121 of the Local Government Act 1995 requires that local governments maintain a register of complaints that result in action under Section 5.110(6) (b) or (c). There was no breach allegations lodged during the financial year.

Major Land Transactions

Perry Lakes Redevelopment ProjectThe State Government assumed control of the Perry Lakes Redevelopment project in 2005 after passing the Perry Lakes Redevelopment Act 2005 (the Act). At the completion of the project, the Town of Cambridge was owed $50 million which as per the Act can be paid in cash, land or a combination of cash and land.

In May 2015, the Town received a report from the Minister for Planning on the proposed settlement with the State Government on the Perry Lakes Redevelopment as follows;

• The settlement of the $50 million is to be made through a combination of land and cash;

• The three apartments sites (lots 231, 232 and 233) will be transferred to the Town by 30 June 2015;

• The Valuer General will assess the value of the land in accordance with the requirements of the Act (section 4(3) (b));

• The balance (i.e. $50 million less the land value) will be paid to the Town in cash in the 2016/17 financial year; and

Statutory Compliance and Civic Responsibilities

• Both the MRS (Currently zoned Urban Deferred) and the Town’s planning scheme will need to be amended to “normalise” the development controls over the land prior to the final payment being made to the Town.

The transfer of the three apartments sites, valued at $27.4 million (ex GST), subsequently occurred on the 21 July 2015. The remaining balance of $22.6 million is to be paid in cash during the 2016/17 financial year. The Council at its August 2015 Council meeting decided to sell lot 232, 1 Meagher Drive and lot 233, 29 Stadium Drive by way of tender. In December 2015, Lots 232 and 233 were sold for $19.5 million (ex GST) and are to be settled in January 2017.

Former Nursery Site Redevelopment (Parkside Walk Jolimont)In 2012, the Town prepared a business plan for the development of freehold land owned by the Town, commonly known as the Former Nursery site located in Salvado Road, Jolimont. The site is approximately 3.9 Ha.

Following public submissions on the business plan, the Town entered into a contract for the sale of the Land with Landcorp. The contract provided for an initial payment to the Town of $5 million and the remaining payment to be provided via a single payment once the land was valued or deferred payments as the land is sold in individual lots after the subdivision.

During the year, the Council determined that it will receive the balance of the consideration as deferred contingent consideration. Subsequently, the land was transferred to LandCorp to prepare the outline development plan and seek


approval from Western Australian Planning Commission in accordance with the agreement.

The business plan contemplates sales of $40 million, development costs and selling expenses of $10 million and a net return of $30 million. The Town’s share of this notional amount is 60% or $18 million, of which $5 million has already been received.

Exempt Land Transactions There were no exempt land transactions undertaken during the 2015/2016 financial year.

Statutory Compliance

Freedom of Information Act (1992)The Town complies with the Freedom of Information Act 1992. The Town’s Freedom of Information Statement, reviewed in November 2013 in accordance with provisions of the Act, is available on the website for public inspection.

Six valid Freedom of Information applications were received during the 2015/2016 period. Seven applications, including one carried over from the previous calendar year, were finalised during this period. Of the seven requests, two applicants received edited access, three received full access, another was refused access, and one withdrew their request.

Compliance with the State Records ActThe Town complies with the State Records Act 2000. The Town’s Record Keeping Plan, a requirement of the Act, is in its third revision. It was given a five year approval by the State Records Commission on 31 May 2013.

All communications to and from the Town are registered into the corporate electronic document management system ensuring an important information source is secure and accessible to all staff. Incoming correspondence registration and response is monitored by progress reports generated at the end of each month from the document management system. During the last financial year staff registered a total of 158,065 documents to the corporate system.

New employees are provided with in-house assistance to ensure they understand their record keeping obligations and responsibilities. Records management support is available to all staff through regularly updated user guides and manuals on the Town’s intranet, and from experienced administration staff. Systems are also in place to record Elected Member emails.

National Competition PolicyNational Competition Policy is a whole of government approach to bring about reform in the public sector to encourage government to become more competitive. Local government is affected mainly where it operates significant business activities, which compete or could compete with private enterprise and where local laws unnecessarily affect competition.

Competitive NeutralityThis principle deals with ensuring that government business operations do not have any advantage or disadvantage in comparison to the private sector. In the period under notice, no activities undertaken by the Town were classified as either a Public Trading Enterprise or a Public Financial Enterprise. During the reporting period no allegations of non-compliance with the principles of Competitive Neutrality were received.

Bold Park Aquatic Centre SUMMARY 2015/2016Operational Revenues 1,147,699Operational Expenses 1,936,321Notional Return (788,622)Less Advantages (1,473,315)Plus Disadvantages 123,977Non Commercial Services (2,137,959)

Wembley Golf Course SUMMARY 2015/2016Operational Revenues 6,908,375Operational Expenses 6,116,315Notional Return 792,060Less Advantages (934,941)Plus Disadvantages 325,150Estimated Return 182,269

Local LawsThe Local Government Act 1995 requires all of the Town’s Local Laws be reviewed every eight years. Local Laws are also revised periodically on a needs basis. As part of this process Local Law amendments are assessed against National Competition Policy principles where appropriate. The process of reviewing the Local Laws was undertaken in 2015/2016.

Employees RemunerationNumber of employees of the Council, in bands of $10,000, entitled to an annual cash salary of $100,000 or more. (Council)

Salary Range 30 June 2015

30 June 2016

$100,000 - $109,999 7 3

$110,000 - $119,999 5 6

$120,000 - $129,999 2

$130,000 - $139,999 1

$150,000 - $159,999 1 1

$160,000 - $169,999 4 2

$170,000 - $179,999 2

$180,000 - $189,999 1 1*

$230,000 - $239,999 1

$240,000 - $249,999 1

19 19

* Temporary appointment

The annual cash salary, as outlined above, is exclusive of superannuation, car allowances and any other form of allowance or payments made to employees as part of their remuneration.

47Statutory Compliance and Civic Responsibilities

Our logo is representative of what makes the Town of Cambridge unique� Thoughtfully produced, the logo contains elements and colours which are quintessentially West Australian and relevant to the Cambridge lifestyle�

• The swan represents our state of Western Australia, and in particular our very own Lake Monger�

• The graceful arc of the swan’s neck, integrated with the letter C symbolises the Town of Cambridge�

• The Swan is centred in a diamond that indicates prosperity�

• The upper green triangle denotes our beautiful parks with the peak representing Reabold Hill�

• The lower blue triangle represents our ocean and lakes�

• On a broader scale, the colours of blue and green represent strength and reliability�

Although contemporary in design, the Town’s logo retains a classic appeal�

The Town of Cambridge, in Perth’s western suburbs, is located about eight kilometres from Perth CBD�

Cambridge, once an ancient land covered by water, has the limestone ridges and outcrops which over time have formed some of the Town’s most spectacular features including Bold Regional Park, Lake Monger and the Quarry Amphitheatre�

Today, Cambridge covers 22 square kilometres and has a population of 28,250 (ABS ERP 2015)� There are over 10,000 residential properties in the Town, which is noted for its regional parks and recreational, sporting and outdoor lifestyle�

Formed on 1 July 1994, after the State Government restructured the former City of Perth, the Town is named after Cambridge University in England� It is bordered by the cities of Vincent, Perth, Subiaco Nedlands and Stirling and contains the suburbs of City Beach, Floreat, Wembley, West Leederville, and parts of Jolimont, Mount Claremont and Wembley Downs�

The Town is home to many places of interest, including Lake Monger Reserve, Bold Regional Park, Wembley Golf Course, City Beach, Floreat Beach, Bold Park Aquatic Centre, Perry Lakes Reserve and the Quarry Amphitheatre�

About our Town

Our logo

Town of Cambridge Annual Report 2015-201648

SQUARE KILOMETRESAREA 22

ESTABLISHED 1 JULY 1994

ABS ERP 2015

POPULATION 28,250

as at October 2015 Elections

NUMBER OF ELECTORS 17,856

as at 30 June 2016

RATEABLE PROPERTIES 11,265

NUMBER OF WARDS 2WEMBLEY

AND COAST

NUMBER OF ELECTED

MEMBERS 1MAYOR

8 COUNCILLORS

49About our Town

AREA OF PARKS, GARDENS AND

RESERVES HECTARES474 LAKE MONGER, PERRY LAKES, REABOLD HILL, BOLD PARK,

CITY BEACH, FLOREAT BEACH, QUARRY AMPHITHEATRE,

WEMBLEY GOLF COURSE (36 HOLES); BOLD PARK AQUATIC,

PERRY LAKES SKATE PARK

Tourist Attractions

COMMERCIAL SHOPPING AREAS, MEDICAL SERVICES

Local Industry

BEACHES AND COASTAL

DUNES KILOMETRES4.5

LENGTH OF SEALED ROADS KILOMETRES194

NUMBER OF EMPLOYEES 30 JUNE 2016197

DISTANCE FROM PERTH

KILOMETRES WEST OF THE PERTH GPO8

SUBURBS AND LOCALITIES

CITY BEACH, FLOREAT, WEMBLEY, WEST LEEDERVILLE, AND PARTS OF JOLIMONT, MOUNT CLAREMONT, DAGLISH AND WEMBLEY DOWNS8

5BOUNDARIES

CITIES OF VINCENT, STIRLING, PERTH, NEDLANDS AND SUBIACO

$43,5 MOPERATING REVENUE

$44,1 MOPERATING EXPENDITURE

$31 MCAPITAL EXPENDITURE

2015/2016 actual

2015/2016 actual

2015/2016 actual

2015/2016 actual

$23,5 MRATE REVENUE


Annual Financial ReportFor the Year Ended 30 June 2016

51Annual Financial Report

Independent Auditor’s Report � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 52

Statement of Chief Executive Officer � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 53

Statement of Comprehensive Income by Program � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 54

Statement of Comprehensive Income by Nature or Type � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 55

Statement of Financial Position � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 56

Statement of Changes in Equity � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 57

Statement of Cash Flows � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 58

Rate Setting Statement � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 59

Notes to and Forming Part of the Financial Report � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 60

Note 1: Significant Accounting Policies � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 60

Note 2: Component Functions/Activities � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 68

Note 3: Assets Classified by Function And Activity � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 68

Note 4: Depreciation � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 69

Note 5: Conditions Over Contributions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 69

Note 6: Trade And Other Receivables � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 70

Note 7: Other Assets � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 70

Note 8: Inventories � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 70

Note 9: Cash and Cash Equivalents � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 70

Note 10: Trade and Other Payables � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 71

Note 11: Provisions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 71

Note 12: Borrowings � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 71

Note 13: Property, Plant and Equipment, Infrastructure Assets � � � � � � � � � � � � � � � � � � � � 74

Note 14: Reserves and Cambridge endowment account � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 77

Note 15: Asset Revaluation Surplus � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 79

Note 16: Notes to the Statement of Cash Flows � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 79

Note 17: Superannuation � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 80

Note 18: Contingent Liabilities � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 80

Note 19: Capital and Leasing Commitments � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 80

Note 20: Fees and Charges Program � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 80

Note 21: Grants, Subsidies and Contributions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 82

Note 22: Disposal of Assets and Land Held For Resale � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 82

Note 23: Statement of Rating Information � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 83

Note 24: Trust Funds � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 84

Note 25: Employee Numbers � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 84

Note 26: Members of Council Remuneration � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 84

Note 27: Subsequent Events � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 84

Note 28: Major Land Transactions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 85

Note 29: Major Trading Undertaking � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 85

Note 30: Other Financial Assets � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 87

Note 31: Investment In Regional Councils – Joint Venture � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 87

Note 32: Budget Comparison – Non-Operating � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 89

Note 33: Economic Dependency � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 89

Note 34: Financial Risk Management � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 89

Note 35: Auditors Remuneration � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 92

Note 36: Financial Ratios of Accounts � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 92


IND

EPEN

DEN

T AU

DIT

OR’

S RE

PORT

IND

EPEN

DEN

T AU

DIT

OR’

S RE

PORT

(CO

NTI

NU

ED)

Leve

l 1

10 K

ings P

ark R

oad

Wes

t Per

th W

A 60

05

Corre

spon

denc

e to:

PO

Box

570

Wes

t Per

th W

A 68

72

T +6

1 8 94

80 20

00

F +6

1 8 93

22 77

87

E inf

o.wa@

au.gt

.com

W

www

.gran

tthor

nton.c

om.au

Gran

t Tho

rnton

Aud

it Pty

Ltd A

CN 13

0 913

594

a sub

sidiar

y or r

elated

entity

of G

rant

Thor

nton A

ustra

lia Lt

d ABN

41 12

7 556

389

‘Gra

nt Th

ornto

n’ re

fers t

o the

bran

d und

er w

hich t

he G

rant

Thor

nton m

embe

r firm

s pro

vide a

ssur

ance

, tax a

nd ad

visor

y ser

vices

to th

eir cl

ients

and/o

r refe

rs to

one o

r mor

e mem

ber f

irms,

as th

e co

ntext

requ

ires.

Gran

t Tho

rnton

Aus

tralia

Ltd i

s a m

embe

r firm

of G

rant

Thor

nton I

ntern

ation

al Ltd

(GTI

L). G

TIL a

nd th

e mem

ber f

irms a

re no

t a w

orldw

ide pa

rtner

ship.

GTI

L and

each

mem

ber f

irm

is a s

epar

ate le

gal e

ntity.

Ser

vices

are d

elive

red b

y the

mem

ber f

irms.

GTIL

does

not p

rovid

e ser

vices

to cl

ients.

GTI

L and

its m

embe

r firm

s are

not a

gents

of, a

nd do

not o

bliga

te on

e ano

ther a

nd

are n

ot lia

ble fo

r one

anoth

er’s

acts

or om

ission

s. In

the A

ustra

lian c

ontex

t only

, the u

se of

the t

erm

‘Gra

nt Th

ornto

n’ ma

y refe

r to G

rant

Thor

nton A

ustra

lia Li

mited

ABN

41 12

7 556

389

and i

ts Au

strali

an su

bsidi

aries

and r

elated

entiti

es. G

TIL i

s not

an A

ustra

lian r

elated

entity

to G

rant

Thor

nton A

ustra

lia Li

mited

. Lia

bility

limite

d by a

sche

me ap

prov

ed un

der P

rofes

siona

l Stan

dard

s Leg

islati

on. L

iabilit

y is l

imite

d in t

hose

Stat

es w

here

a cu

rrent

sche

me ap

plies

. In

depe

nden

t A

udit

or’s

Rep

ort

T

o th

e R

atep

ayer

s of

Tow

n of

Cam

brid

ge

We

have

aud

ited

the

acco

mpa

nyin

g fin

ancia

l rep

ort o

f Tow

n of

Cam

brid

ge (t

he “

Tow

n”),

whi

ch c

ompr

ises t

he st

atem

ent o

f fin

ancia

l pos

ition

as a

t 30

June

201

6, a

nd th

e st

atem

ent o

f pr

ofit

or lo

ss a

nd o

ther

com

preh

ensiv

e in

com

e by

pro

gram

, sta

tem

ent o

f pro

fit o

r los

s and

ot

her c

ompr

ehen

sive

inco

me

by n

atur

e or

type

, sta

tem

ent o

f cha

nges

in e

quity

and

st

atem

ent o

f cas

h flo

ws f

or th

e ye

ar th

en e

nded

, not

es c

ompr

ising

a su

mm

ary

of si

gnifi

cant

ac

coun

ting

polic

ies a

nd o

ther

exp

lanat

ory

info

rmat

ion

to th

e fin

ancia

l rep

ort a

nd th

e st

atem

ent b

y th

e Ch

ief E

xecu

tive

Offi

cer.

Res

pons

ibili

ty o

f th

e C

ounc

il fo

r th

e fi

nanc

ial r

epor

t Th

e Co

uncil

of t

he T

own

of C

ambr

idge

is re

spon

sible

for t

he p

repa

ratio

n an

d fa

ir pr

esen

tatio

n of

the

finan

cial r

epor

t in

acco

rdan

ce w

ith A

ustra

lian

Acc

ount

ing

Stan

dard

s (in

cludi

ng th

e A

ustra

lian

Acc

ount

ing

Inte

rpre

tatio

ns) a

nd th

e Lo

cal G

over

nmen

t Act

199

5 Pa

rt 6.

Thi

s res

pons

ibili

ty in

clude

s suc

h in

tern

al co

ntro

ls as

the

Coun

cil d

eter

min

e ar

e ne

cess

ary

to e

nabl

e th

e pr

epar

atio

n of

the

finan

cial r

epor

t to

be fr

ee fr

om m

ater

ial

miss

tate

men

t, w

heth

er d

ue to

frau

d or

err

or.

Aud

itor

’s r

espo

nsib

ility

O

ur re

spon

sibili

ty is

to e

xpre

ss a

n op

inio

n on

the

finan

cial r

epor

t bas

ed o

n ou

r aud

it. W

e co

nduc

ted

our a

udit

in a

ccor

danc

e w

ith A

ustra

lian

Aud

iting

Sta

ndar

ds w

hich

requ

ire u

s to

com

ply

with

relev

ant e

thica

l req

uire

men

ts re

latin

g to

aud

it en

gage

men

ts a

nd p

lan a

nd

perf

orm

the

audi

t to

obta

in re

ason

able

assu

ranc

e w

heth

er th

e fin

ancia

l rep

ort i

s fre

e fr

om

mat

erial

miss

tate

men

t.

An

audi

t inv

olve

s per

form

ing

proc

edur

es to

obt

ain a

udit

evid

ence

abo

ut th

e am

ount

s and

di

sclo

sure

s in

the

finan

cial r

epor

t. T

he p

roce

dure

s sele

cted

dep

end

on th

e au

dito

r’s

judg

emen

t, in

cludi

ng th

e as

sess

men

t of t

he ri

sks o

f mat

erial

miss

tate

men

t of t

he fi

nanc

ial

repo

rt, w

heth

er d

ue to

frau

d or

err

or.

In m

akin

g th

ose

risk

asse

ssm

ents

, the

aud

itor c

onsid

ers i

nter

nal c

ontro

l rele

vant

to th

e To

wn’

s pre

para

tion

and

fair

pres

enta

tion

of th

e fin

ancia

l rep

ort i

n or

der t

o de

sign

audi

t pr

oced

ures

that

are

app

ropr

iate

in th

e cir

cum

stan

ces,

but n

ot fo

r the

pur

pose

of e

xpre

ssin

g an

opi

nion

on

the

effe

ctiv

enes

s of t

he e

ntity

’s in

tern

al co

ntro

l. A

n au

dit a

lso in

clude

s ev

aluat

ing

the

appr

opria

tene

ss o

f acc

ount

ing

polic

ies u

sed

and

the

reas

onab

lenes

s of

acco

untin

g es

timat

es m

ade

by th

e Co

uncil

, as w

ell a

s eva

luat

ing

the

over

all p

rese

ntat

ion

of

the

finan

cial r

epor

t.

We

perf

orm

ed th

e pr

oced

ures

to a

sses

s whe

ther

in a

ll m

ater

ial re

spec

ts th

e fin

ancia

l rep

ort

pres

ents

fairl

y, in

acc

orda

nce

with

the

Loca

l Gov

ernm

ent A

ct 1

995

Part

6 an

d A

ustra

lian

Acc

ount

ing

Stan

dard

s (in

cludi

ng th

e A

ustra

lian

Acc

ount

ing

Inte

rpre

tatio

ns),

a vi

ew w

hich

is

cons

isten

t with

our

und

erst

andi

ng o

f the

Tow

n of

Cam

brid

ge’s

finan

cial p

ositi

on a

nd o

f th

eir p

erfo

rman

ce.

We

belie

ve th

at th

e au

dit e

vide

nce

we

have

obt

ained

is su

ffici

ent a

nd a

ppro

priat

e to

pro

vide

a

basis

for o

ur a

udit

opin

ion.

Inde

pend

ence

In

con

duct

ing

our a

udit,

we

have

com

plied

with

the

appl

icabl

e in

depe

nden

ce re

quire

men

ts

of th

e A

ccou

ntin

g Pr

ofes

siona

l and

Eth

ical S

tand

ards

Boa

rd.

Aud

itor

’s O

pini

on

In o

ur o

pini

on, t

he fi

nanc

ial re

port

of T

own

of C

ambr

idge

i pr

esen

ts fa

irly,

in a

ll m

ater

ial re

spec

ts, t

he T

own

of C

ambr

idge

’s fin

ancia

l pos

ition

as

at 3

0 Ju

ne 2

016

and

of it

s per

form

ance

and

cas

h flo

ws f

or th

e ye

ar th

en e

nded

; an

d

ii co

mpl

ies w

ith A

ustra

lian

Acc

ount

ing

Stan

dard

s (in

cludi

ng th

e A

ustra

lian

Acc

ount

ing

Inte

rpre

tatio

ns);

and

iii

is pr

epar

ed in

acc

orda

nce

with

the

requ

irem

ents

of t

he L

ocal

Gov

ernm

ent A

ct 1

995

Part

6 (a

s am

ende

d) a

nd R

egul

atio

ns u

nder

that

Act

.

53Independent Auditor’s Report

IND

EPEN

DEN

T AU

DIT

OR’

S RE

PORT

(CO

NTI

NU

ED)

Sta

tuto

ry C

ompl

ianc

e I d

id n

ot, d

urin

g th

e co

urse

of m

y au

dit,

beco

me

awar

e of

any

inst

ance

whe

re th

e Co

uncil

di

d no

t com

ply

with

the

requ

irem

ents

of t

he L

ocal

Gov

ernm

ent A

ct 1

995

and

Loca

l G

over

nmen

t (Fi

nanc

ial M

anag

emen

t) Re

gulat

ions

199

6 as

they

relat

e to

the

finan

cial

stat

emen

ts.

GRA

NT

THO

RNTO

N A

UD

IT P

TY L

TD

Char

tere

d A

ccou

ntan

ts

M J

Hill

grov

e Pa

rtner

- A

udit

& A

ssur

ance

Pe

rth, 2

5 O

ctob

er 2

016

STAT

EMEN

T O

F CH

IEF

EXEC

UTI

VE O

FFIC

ER

STAT

EMEN

T BY

CH

IEF

EXEC

UTI

VE O

FFIC

ER

The

atta

ched

fina

ncia

l rep

ort o

f the

Tow

n of

Cam

brid

ge, b

eing

th

e an

nual

fina

ncia

l rep

ort a

nd s

uppo

rtin

g no

tes

and

othe

r in

form

atio

n fo

r the

fina

ncia

l yea

r end

ed 3

0 Ju

ne 2

016,

are

, in

my

opin

ion,

pro

perly

dra

wn

up to

pre

sent

fairl

y th

e fi

nanc

ial p

ositi

on

of th

e To

wn

of C

ambr

idge

at 3

0 Ju

ne 2

016

and

the

resu

lts o

f its

op

erat

ions

for t

he fi

nanc

ial y

ear t

hen

ende

d in

acc

orda

nce

with

the

Aus

tral

ian

Acc

ount

ing

Stan

dard

s an

d co

mpl

y w

ith th

e pr

ovis

ions

of

the

Loca

l Gov

ernm

ent A

ct 1

995

and

the

regu

latio

ns u

nder

that

Act

.

Sign

ed o

n th

e da

te 2

5th

Oct

ober

201

6

JASO

N B

UCK

LEY

CHIE

F EX

ECU

TIVE

OFF

ICER

Note

2016

Actu

al $

2016

Budg

et $

2015

Actu

al $

REVE

NUE

Gene

ral P

urpo

se F

undi

ng 2

5,06

7,82

5 2

5,02

3,00

0 2

5,43

3,07

6

Gove

rnan

ce 1

22,7

91

75,

000

121

,179

Law,

Ord

er a

nd P

ublic

Saf

ety

145

,764

1

28,5

00

164

,628

Heal

th 9

9,85

1 7

1,50

0 7

7,87

0

Educ

atio

n an

d W

elfa

re 1

,128

,634

1

,142

,500

1

,100

,978

Com

mun

ity A

men

ities

2,7

03,7

18

2,7

29,0

00

2,8

17,3

68

Recr

eatio

n an

d Cu

lture

9,5

16,2

29

9,5

68,0

00

9,1

81,7

33

Tran

spor

t 2

,223

,307

2

,193

,000

2

,148

,117

Econ

omic

Serv

ices

440

,552

5

60,0

00

500

,544

Othe

r Pro

perty

and

Ser

vices

2,0

51,2

46

1,3

74,0

00

220

,529

43,

499,

917

42,

864,

500

41,

766,

022

Expe

nses

Exc

ludi

ng F

inan

ce C

osts

Gene

ral P

urpo

se F

undi

ng 6

23,5

07

595

,000

5

75,7

35

Gove

rnan

ce 1

,799

,172

1

,783

,500

1

,756

,704

Law,

Ord

er a

nd P

ublic

Saf

ety

1,7

39,2

17

1,6

56,0

00

1,4

35,8

64

Heal

th 5

53,2

60

531

,000

5

68,0

40

Educ

atio

n an

d W

elfa

re 1

,775

,772

1

,743

,500

1

,723

,323

Com

mun

ity A

men

ities

6,3

44,4

04

6,4

27,0

00

5,8

84,8

99

Recr

eatio

n an

d Cu

lture

18,

493,

704

18,

880,

500

17,

334,

329

Tran

spor

t 8

,764

,699

7

,657

,000

8

,221

,307

Econ

omic

Serv

ices

574

,200

6

19,5

00

551

,212

Othe

r Pro

perty

and

Ser

vices

2,9

67,6

58

2,6

52,5

00

2,5

62,5

03

43,

635,

593

42,

545,

500

40,

613,

916

Fina

nce

Cost

sGo

vern

ance

2,1

79

2,5

00

3,4

00

Recr

eatio

n an

d Cu

lture

435

,565

4

48,0

00

400

,165

Othe

r Pro

perty

and

Ser

vices

47,

264

53,

500

39,

420

12

485

,008

5

04,0

00

442

,985

Oper

atin

g Re

sult

(620

,684

) (1

85,0

00)

709

,121

Note

2016

Actu

al $

2016

Budg

et $

2015

Actu

al $

Gran

ts a

nd S

ubsi

dies

- No

n Op

erat

ing

Law,

Ord

er a

nd P

ublic

Saf

ety

525

,000

5

25,0

00

1,3

75,0

00

Educ

atio

n an

d W

elfa

re -

10,

000

6,6

46

Com

mun

ity A

men

ities

190

,000

2

76,0

00

562

,572

Recr

eatio

n an

d Cu

lture

959

,013

1

,770

,500

3

74,0

90

Tran

spor

t 1

,435

,493

2

,219

,500

1

,113

,013

Othe

r Pro

perty

and

Ser

vices

27,

363,

636

- -

21

30,

473,

142

4,8

01,0

00

3,4

31,3

21

Disp

osal

of A

sset

sGa

in o

n Di

spos

al o

f Ass

ets

4,7

42,3

79

2,6

27,0

00

6,2

61,9

80

Loss

on

Disp

osal

of A

sset

s (2

84,4

85)

(138

,500

) (1

,054

,164

)

22

4,4

57,8

94

2,4

88,5

00

5,2

07,8

16

Chan

ge in

Equ

ity -

Join

t Ven

ture

sOt

her P

rope

rty a

nd S

ervic

es 3

1 2

56,6

23

- 2

,681

,147

Fair

Valu

e Ad

just

men

ts to

Fin

anci

al A

sset

s at

fa

ir va

lue

thro

ugh

profi

t or

loss

Gene

ral P

urpo

se F

undi

ng 3

0 (4

5,95

9) -

88,

720

Decr

emen

t on

Reva

luat

ion

of A

sset

sOt

her P

rope

rty a

nd S

ervic

es 1

3 (1

30,9

13)

- -

NET

RESU

LT 3

4,39

0,10

3 7

,104

,500

1

2,11

8,12

5

Othe

r Com

preh

ensi

ve In

com

eCh

ange

s on

reva

luat

ion

of n

on c

urre

nt a

sset

s 1

5 (3

,643

,301

) -

22,

697,

765

TOTA

L CO

MPR

EHEN

SIVE

INCO

ME

30,

746,

802

7,1

04,5

00

34,

815,

890

STAT

EMEN

T O

F CO

MPR

EHEN

SIVE

INCO

ME

BY P

ROG

RAM

FOR

THE

YEA

R EN

DED

30

JUN

E 20

16

This

Sta

tem

ent s

houl

d be

read

in c

onju

ncti

on w

ith

the

acco

mpa

nyin

g no

tes.


Note

2016

Actu

al $

2016

Budg

et $

2015

Actu

al $

Reve

nue

Rate

s23

23,

470,

651

23,

396,

500

22,

194,

672

Oper

atin

g Gr

ants

, Sub

sidie

s an

d Co

ntrib

utio

ns21

2,3

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28

2,5

53,5

00

3,3

71,2

07

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& C

harg

es20

15,

175,

626

15,

532,

500

13,

938,

796

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rest

Ear

ning

s 1

,048

,765

1

,057

,000

1

,682

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Othe

r Rev

enue

/Inco

me

1,5

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47

325

,000

5

78,6

65

43,

499,

917

42,

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41,

766,

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Expe

nses

Exc

ludi

ng F

inan

ce C

osts

Empl

oyee

Cos

ts 1

8,23

2,75

2 1

7,89

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0 1

6,90

7,45

3 M

ater

ials

& Co

ntra

cts

14,

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14,

767,

800

14,

202,

022

Utilit

ies

1,5

60,7

22

1,7

40,3

00

1,4

87,3

58

Insu

ranc

e 4

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66

509

,500

4

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45

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r Exp

endi

ture

672

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6

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00

640

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tion

on N

on-c

urre

nt A

sset

s4

7,7

96,0

72

6,9

94,0

00

6,9

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16

43,

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613,

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nce

Cost

s

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rest

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ense

s12

485

,008

5

04,0

00

442

,985

485

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5

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00

442

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Oper

atin

g Re

sult

(620

,684

) (1

85,0

00)

709

,121

Note

2016

Actu

al $

2016

Budg

et $

2015

Actu

al $

Non

Oper

atin

g Gr

ants

, Sub

sidi

es21

30,

473,

142

4,8

01,0

00

3,4

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21

and

Cont

ribut

ions

Disp

osal

of A

sset

sGa

in o

n Di

spos

al o

f Ass

ets

4,7

42,3

79

2,6

27,0

00

6,2

61,9

80

Loss

on

Disp

osal

of A

sset

s (2

84,4

85)

(138

,500

) (1

,054

,164

)

22 4

,457

,894

2

,488

,500

5

,207

,816

Chan

ge In

Equ

ity -

Join

t Ven

ture

s31

256

,623

-

2,6

81,1

47

Fair

Valu

e Ad

just

men

ts to

Fin

anci

al A

sset

s at

fa

ir va

lue

thro

ugh

profi

t or

loss

30 (4

5,95

9) -

88,

720

Decr

emen

t on

Reva

luat

ion

of A

sset

s13

(130

,913

) -

-

NET

RESU

LTS

34,

390,

103

7,1

04,5

00

12,

118,

125

Chan

ges

on re

valu

atio

n of

non

cur

rent

ass

ets

15 (3

,643

,301

) -

22,

697,

765

TOTA

L CO

MPR

EHEN

SIVE

INCO

ME

30,

746,

802

7,1

04,5

00

34,

815,

890

STAT

EMEN

T O

F CO

MPR

EHEN

SIVE

INCO

ME

BY N

ATU

RE O

R TY

PE FO

R TH

E YE

AR

END

ED 3

0 JU

NE

2016

This

Sta

tem

ent s

houl

d be

read

in c

onju

ncti

on w

ith

the

acco

mpa

nyin

g no

tes.

Note

2016

Actu

al $

2016

Budg

et $

2015

Actu

al $

REVE

NUE

Gene

ral P

urpo

se F

undi

ng 2

5,06

7,82

5 2

5,02

3,00

0 2

5,43

3,07

6

Gove

rnan

ce 1

22,7

91

75,

000

121

,179

Law,

Ord

er a

nd P

ublic

Saf

ety

145

,764

1

28,5

00

164

,628

Heal

th 9

9,85

1 7

1,50

0 7

7,87

0

Educ

atio

n an

d W

elfa

re 1

,128

,634

1

,142

,500

1

,100

,978

Com

mun

ity A

men

ities

2,7

03,7

18

2,7

29,0

00

2,8

17,3

68

Recr

eatio

n an

d Cu

lture

9,5

16,2

29

9,5

68,0

00

9,1

81,7

33

Tran

spor

t 2

,223

,307

2

,193

,000

2

,148

,117

Econ

omic

Serv

ices

440

,552

5

60,0

00

500

,544

Othe

r Pro

perty

and

Ser

vices

2,0

51,2

46

1,3

74,0

00

220

,529

43,

499,

917

42,

864,

500

41,

766,

022

Expe

nses

Exc

ludi

ng F

inan

ce C

osts

Gene

ral P

urpo

se F

undi

ng 6

23,5

07

595

,000

5

75,7

35

Gove

rnan

ce 1

,799

,172

1

,783

,500

1

,756

,704

Law,

Ord

er a

nd P

ublic

Saf

ety

1,7

39,2

17

1,6

56,0

00

1,4

35,8

64

Heal

th 5

53,2

60

531

,000

5

68,0

40

Educ

atio

n an

d W

elfa

re 1

,775

,772

1

,743

,500

1

,723

,323

Com

mun

ity A

men

ities

6,3

44,4

04

6,4

27,0

00

5,8

84,8

99

Recr

eatio

n an

d Cu

lture

18,

493,

704

18,

880,

500

17,

334,

329

Tran

spor

t 8

,764

,699

7

,657

,000

8

,221

,307

Econ

omic

Serv

ices

574

,200

6

19,5

00

551

,212

Othe

r Pro

perty

and

Ser

vices

2,9

67,6

58

2,6

52,5

00

2,5

62,5

03

43,

635,

593

42,

545,

500

40,

613,

916

Fina

nce

Cost

sGo

vern

ance

2,1

79

2,5

00

3,4

00

Recr

eatio

n an

d Cu

lture

435

,565

4

48,0

00

400

,165

Othe

r Pro

perty

and

Ser

vices

47,

264

53,

500

39,

420

12

485

,008

5

04,0

00

442

,985

Oper

atin

g Re

sult

(620

,684

) (1

85,0

00)

709

,121

Note

2016

Actu

al $

2016

Budg

et $

2015

Actu

al $

Gran

ts a

nd S

ubsi

dies

- No

n Op

erat

ing

Law,

Ord

er a

nd P

ublic

Saf

ety

525

,000

5

25,0

00

1,3

75,0

00

Educ

atio

n an

d W

elfa

re -

10,

000

6,6

46

Com

mun

ity A

men

ities

190

,000

2

76,0

00

562

,572

Recr

eatio

n an

d Cu

lture

959

,013

1

,770

,500

3

74,0

90

Tran

spor

t 1

,435

,493

2

,219

,500

1

,113

,013

Othe

r Pro

perty

and

Ser

vices

27,

363,

636

- -

21

30,

473,

142

4,8

01,0

00

3,4

31,3

21

Disp

osal

of A

sset

sGa

in o

n Di

spos

al o

f Ass

ets

4,7

42,3

79

2,6

27,0

00

6,2

61,9

80

Loss

on

Disp

osal

of A

sset

s (2

84,4

85)

(138

,500

) (1

,054

,164

)

22

4,4

57,8

94

2,4

88,5

00

5,2

07,8

16

Chan

ge in

Equ

ity -

Join

t Ven

ture

sOt

her P

rope

rty a

nd S

ervic

es 3

1 2

56,6

23

- 2

,681

,147

Fair

Valu

e Ad

just

men

ts to

Fin

anci

al A

sset

s at

fa

ir va

lue

thro

ugh

profi

t or

loss

Gene

ral P

urpo

se F

undi

ng 3

0 (4

5,95

9) -

88,

720

Decr

emen

t on

Reva

luat

ion

of A

sset

sOt

her P

rope

rty a

nd S

ervic

es 1

3 (1

30,9

13)

- -

NET

RESU

LT 3

4,39

0,10

3 7

,104

,500

1

2,11

8,12

5

Othe

r Com

preh

ensi

ve In

com

eCh

ange

s on

reva

luat

ion

of n

on c

urre

nt a

sset

s 1

5 (3

,643

,301

) -

22,

697,

765

TOTA

L CO

MPR

EHEN

SIVE

INCO

ME

30,

746,

802

7,1

04,5

00

34,

815,

890

STAT

EMEN

T O

F CO

MPR

EHEN

SIVE

INCO

ME

BY P

ROG

RAM

FOR

THE

YEA

R EN

DED

30

JUN

E 20

16

This

Sta

tem

ent s

houl

d be

read

in c

onju

ncti

on w

ith

the

acco

mpa

nyin

g no

tes.

55Statement of Comprehensive Income

Note

2016

Actu

al $

2015

Actu

al $

CURR

ENT

ASSE

TSCa

sh a

nd C

ash

Equi

vale

nts

917

,186

,154

32,5

44,9

72Tr

ade

and

Othe

r Rec

eiva

bles

61,

965,

335

1,82

0,94

8Ot

her

722

,582

105,

329

Inve

ntor

ies

828

,167

,430

513,

297

Tota

l Cur

rent

Ass

ets

47,3

41,5

0134

,984

,546

NON-

CURR

ENT

ASSE

TSTr

ade

and

Othe

r Rec

eiva

bles

630

0,67

536

1,60

7Pr

oper

ty, P

lant

and

Equ

ipm

ent a

nd In

frast

ruct

ure

1330

4,11

9,80

428

5,14

3,32

3Fi

nanc

ial A

sset

s30

541,

829

641,

707

Inve

stm

ents

319,

520,

230

9,16

3,12

9

Tota

l Non

-Cur

rent

Ass

ets

314,

482,

538

295,

309,

766

TOTA

L AS

SETS

361,

824,

039

330,

294,

312

STAT

EMEN

T O

F FI

NA

NC

IAL

POSI

TIO

N A

S AT

30

JUN

E 20

16

Note

2016

Actu

al $

2015

Actu

al $

CURR

ENT

LIAB

ILIT

IES

Trad

e an

d Ot

her P

ayab

les

106,

644,

755

6,61

8,15

5Pr

ovisi

ons

Curre

nt11

2,64

6,01

92,

421,

762

Borro

win

gs12

1,76

6,81

759

0,48

5

Tota

l Cur

rent

Lia

bilit

ies

11,0

57,5

919,

630,

402

NON-

CURR

ENT

LIAB

ILIT

IES

Prov

ision

s No

n-Cu

rrent

1131

9,24

332

1,69

0

Borro

win

gs12

11,9

82,7

0112

,624

,518

Tota

l Non

-Cur

rent

Lia

bilit

ies

12,3

01,9

4412

,946

,208

TOTA

L LI

ABIL

ITIE

S23

,359

,535

22,5

76,6

10

NET

ASSE

TS33

8,46

4,50

430

7,71

7,70

2

EQUI

TYRe

tain

ed S

urpl

us24

0,95

4,71

019

1,25

1,73

6Re

serv

es -

Cash

/Inve

stm

ent B

acke

d14

7,49

0,43

822

,803

,309

Reva

luat

ion

Surp

lus

1590

,019

,356

93,6

62,6

57

TOTA

L EQ

UITY

338,

464,

504

307,

717,

702

This

Sta

tem

ent s

houl

d be

read

in c

onju

ncti

on w

ith

the

acco

mpa

nyin

g no

tes.


Note

2016

Actu

al $

2015

Actu

al $

CURR

ENT

ASSE

TSCa

sh a

nd C

ash

Equi

vale

nts

917

,186

,154

32,5

44,9

72Tr

ade

and

Othe

r Rec

eiva

bles

61,

965,

335

1,82

0,94

8Ot

her

722

,582

105,

329

Inve

ntor

ies

828

,167

,430

513,

297

Tota

l Cur

rent

Ass

ets

47,3

41,5

0134

,984

,546

NON-

CURR

ENT

ASSE

TSTr

ade

and

Othe

r Rec

eiva

bles

630

0,67

536

1,60

7Pr

oper

ty, P

lant

and

Equ

ipm

ent a

nd In

frast

ruct

ure

1330

4,11

9,80

428

5,14

3,32

3Fi

nanc

ial A

sset

s30

541,

829

641,

707

Inve

stm

ents

319,

520,

230

9,16

3,12

9

Tota

l Non

-Cur

rent

Ass

ets

314,

482,

538

295,

309,

766

TOTA

L AS

SETS

361,

824,

039

330,

294,

312

STAT

EMEN

T O

F FI

NA

NC

IAL

POSI

TIO

N A

S AT

30

JUN

E 20

16

Note

2016

Actu

al $

2015

Actu

al $

CURR

ENT

LIAB

ILIT

IES

Trad

e an

d Ot

her P

ayab

les

106,

644,

755

6,61

8,15

5Pr

ovisi

ons

Curre

nt11

2,64

6,01

92,

421,

762

Borro

win

gs12

1,76

6,81

759

0,48

5

Tota

l Cur

rent

Lia

bilit

ies

11,0

57,5

919,

630,

402

NON-

CURR

ENT

LIAB

ILIT

IES

Prov

ision

s No

n-Cu

rrent

1131

9,24

332

1,69

0

Borro

win

gs12

11,9

82,7

0112

,624

,518

Tota

l Non

-Cur

rent

Lia

bilit

ies

12,3

01,9

4412

,946

,208

TOTA

L LI

ABIL

ITIE

S23

,359

,535

22,5

76,6

10

NET

ASSE

TS33

8,46

4,50

430

7,71

7,70

2

EQUI

TYRe

tain

ed S

urpl

us24

0,95

4,71

019

1,25

1,73

6Re

serv

es -

Cash

/Inve

stm

ent B

acke

d14

7,49

0,43

822

,803

,309

Reva

luat

ion

Surp

lus

1590

,019

,356

93,6

62,6

57

TOTA

L EQ

UITY

338,

464,

504

307,

717,

702

This

Sta

tem

ent s

houl

d be

read

in c

onju

ncti

on w

ith

the

acco

mpa

nyin

g no

tes.

Note

Reta

ined

Su

rplu

s $

Rese

rves

Ca

sh /

Inve

stm

ent

Back

ed $

Cam

brid

ge

Endo

wm

ent

Land

Acc

ount $

Reva

luat

ion

Surp

lus $

Tota

l Eq

uity

$

Bala

nce

as a

t 1 J

uly

2014

170

,276

,406

4

,041

,162

2

7,61

9,35

2 7

0,96

4,89

2 2

72,9

01,8

12

Net R

esul

t 1

2,11

8,12

5 -

- -

12,

118,

125

Tota

l Oth

er C

ompr

ehen

sive

Inco

me

- -

- 2

2,69

7,76

5 2

2,69

7,76

5

Tran

sfer

from

/(to)

Res

erve

s/EL

A 8

,857

,205

1

,727

,263

(1

0,58

4,46

8) -

-

Bala

nce

as a

t 30

June

201

514

191

,251

,736

5

,768

,425

1

7,03

4,88

4 9

3,66

2,65

7 3

07,7

17,7

02

Net R

esul

t 3

4,39

0,10

3 -

- -

34,

390,

103

Tota

l Oth

er C

ompr

ehen

sive

Inco

me

- -

- (3

,643

,301

) (3

,643

,301

)

Tran

sfer

from

/(to)

Res

erve

s/EL

A 1

5,31

2,87

1 9

65,5

73

(16,

278,

444)

- -

Bala

nce

as a

t 30

June

201

614

240

,954

,710

6

,733

,998

7

56,4

40

90,

019,

356

338

,464

,504

STA T

EMEN

T O

F CH

AN

GES

IN E

QU

ITY

FOR

THE

YEA

R EN

DED

30

JUN

E 20

16

This

Sta

tem

ent s

houl

d be

read

in c

onju

ncti

on w

ith

the

acco

mpa

nyin

g no

tes.

57Statement of Changes in Equity

Note

2016

Actu

al $

2016

Budg

et $

2015

Actu

al $

Cash

Flo

ws

From

Ope

ratin

g Ac

tiviti

esRe

ceip

tsRa

tes

23,

482,

360

23,

396,

500

22,

214,

872

Gran

ts a

nd s

ubsid

ies

and

cont

ribut

ions

(ope

ratin

g) 2

,198

,534

2

,333

,500

2

,932

,639

Se

rvice

cha

rges

- 2

,000

3

,118

Fe

es a

nd c

harg

es

17,

034,

980

15,

744,

500

15,

941,

039

Inte

rest

rece

ived

1,3

93,1

14

1,3

32,5

00

1,8

58,2

78

Good

s an

d Se

rvice

s Tax

Ref

und

2,9

06,4

46

680

,000

2

,330

,156

Ot

her r

even

ue/in

com

e 1

,549

,806

8

82,5

00

661

,794

48,

565,

240

44,

371,

500

45,

941,

896

Paym

ents

Empl

oyee

exp

ense

s (1

7,68

3,54

4) (1

7,72

3,80

0) (1

6,71

1,51

2)M

ater

ials

and

cont

ract

s (2

0,27

2,88

3) (1

4,06

6,20

0) (1

6,77

4,20

3)Ut

ilitie

s (1

,560

,722

) (2

,474

,600

) (1

,487

,358

)In

sura

nce

(418

,066

) (3

84,4

00)

(468

,345

)In

tere

st P

aid

(736

,837

) (7

79,5

00)

(456

,194

)Ot

her e

xpen

ditu

re (7

18,1

34)

(944

,000

) (6

40,7

18)

(41,

390,

186)

(36,

372,

500)

(36,

538,

330)

Net C

ash

Prov

ided

By

Oper

atin

g Ac

tiviti

es16

7,1

75,0

54

7,9

99,0

00

9,4

03,5

66

Cash

Flo

ws

From

Inve

stin

g Ac

tiviti

esRe

ceip

tsGr

ants

/Con

tribu

tions

for d

evel

opm

ent o

f Ass

ets

3,1

09,5

06

4,8

01,0

00

3,4

31,3

21

Repa

ymen

t of i

nves

tmen

ts fr

om Ta

mal

a Pa

rk 1

,249

,999

-

2,5

83,3

34

Proc

eeds

from

Inve

stm

ents

Mat

ured

53,

919

- 7

4,25

8 Sa

le o

f lan

d 3

,188

,965

4

,816

,000

4

,655

,368

Sa

le o

f ext

erna

l pla

nt a

nd e

quip

men

t 2

00,7

75

75,

000

292

,578

7,8

03,1

64

9,6

92,0

00

11,

036,

859

Note

2016

Actu

al $

2016

Budg

et $

2015

Actu

al $

Paym

ents

Purc

hase

of I

nves

tmen

t (3

0,01

4) (2

,983

,000

) (2

1,06

3)Pu

rcha

se o

f Lan

d He

ld fo

r Res

ale

(22,

337)

- (2

6,13

5)Pu

rcha

se o

f Inf

rast

ruct

ure

Asse

ts (5

,843

,928

) (1

2,27

1,00

0) (6

,099

,029

)Pu

rcha

se o

f Lan

d an

d Bu

ildin

gs (1

1,76

1,68

9) (2

3,75

1,00

0) (9

62,1

62)

Purc

hase

of O

ffi ce

Fur

nitu

re a

nd E

quip

men

t (8

25,0

19)

(1,6

12,0

00)

(643

,733

)Pu

rcha

se o

f Ext

erna

l Pla

nt a

nd E

quip

men

t (4

02,3

88)

(1,0

13,5

00)

(637

,107

)W

ork

in p

rogr

ess

13 (1

2,15

1,62

9) (3

,000

,000

) (1

7,87

0,41

9)

(31,

037,

004)

(44,

630,

500)

(26,

259,

648)

Net C

ash

from

/(use

d in

) Inv

estin

g Ac

tiviti

es (2

3,23

3,84

0) (3

4,93

8,50

0) (1

5,22

2,78

9)

Rece

ipts

Proc

eeds

from

bor

row

ing

1,1

25,0

00

2,0

00,0

00

34,

177

Incr

ease

/(Dec

reas

e) in

Dep

osits

and

Bon

ds 1

65,4

53

(100

,000

) (1

32,8

03)

1,2

90,4

53

1,9

00,0

00

(98,

626)

Paym

ents

Repa

ymen

t of b

orro

win

gs (5

90,4

85)

(588

,500

) (1

,138

,925

)

(590

,485

) (5

88,5

00)

(1,1

38,9

25)

Net C

ash

from

/(use

d in

) Fin

anci

ng A

ctiv

ities

699

,968

1

,311

,500

(1

,237

,551

)

Net I

ncre

ase/

(Dec

reas

e) in

Cas

h He

ld (1

5,35

8,81

8) (2

5,62

8,00

0) (7

,056

,774

)

Cash

and

cas

h eq

uiva

lent

s at

the

Begi

nnin

g of

the

Year

32,

544,

972

32,

598,

300

39,

601,

746

Cash

and

cas

h eq

uiva

lent

s at

the

End

of th

e Ye

ar16

17,

186,

154

6,9

70,3

00

32,

544,

972

STAT

EMEN

T O

F CA

SH F

LOW

S FO

R TH

E YE

AR

END

ED 3

0 JU

NE

2016

This

Sta

tem

ent s

houl

d be

read

in c

onju

ncti

on w

ith

the

acco

mpa

nyin

g no

tes.


Note

2016

Actu

al $

2016

Budg

et $

2015

Actu

al $

Cash

Flo

ws

From

Ope

ratin

g Ac

tiviti

esRe

ceip

tsRa

tes

23,

482,

360

23,

396,

500

22,

214,

872

Gran

ts a

nd s

ubsid

ies

and

cont

ribut

ions

(ope

ratin

g) 2

,198

,534

2

,333

,500

2

,932

,639

Se

rvice

cha

rges

- 2

,000

3

,118

Fe

es a

nd c

harg

es

17,

034,

980

15,

744,

500

15,

941,

039

Inte

rest

rece

ived

1,3

93,1

14

1,3

32,5

00

1,8

58,2

78

Good

s an

d Se

rvice

s Tax

Ref

und

2,9

06,4

46

680

,000

2

,330

,156

Ot

her r

even

ue/in

com

e 1

,549

,806

8

82,5

00

661

,794

48,

565,

240

44,

371,

500

45,

941,

896

Paym

ents

Empl

oyee

exp

ense

s (1

7,68

3,54

4) (1

7,72

3,80

0) (1

6,71

1,51

2)M

ater

ials

and

cont

ract

s (2

0,27

2,88

3) (1

4,06

6,20

0) (1

6,77

4,20

3)Ut

ilitie

s (1

,560

,722

) (2

,474

,600

) (1

,487

,358

)In

sura

nce

(418

,066

) (3

84,4

00)

(468

,345

)In

tere

st P

aid

(736

,837

) (7

79,5

00)

(456

,194

)Ot

her e

xpen

ditu

re (7

18,1

34)

(944

,000

) (6

40,7

18)

(41,

390,

186)

(36,

372,

500)

(36,

538,

330)

Net C

ash

Prov

ided

By

Oper

atin

g Ac

tiviti

es16

7,1

75,0

54

7,9

99,0

00

9,4

03,5

66

Cash

Flo

ws

From

Inve

stin

g Ac

tiviti

esRe

ceip

tsGr

ants

/Con

tribu

tions

for d

evel

opm

ent o

f Ass

ets

3,1

09,5

06

4,8

01,0

00

3,4

31,3

21

Repa

ymen

t of i

nves

tmen

ts fr

om Ta

mal

a Pa

rk 1

,249

,999

-

2,5

83,3

34

Proc

eeds

from

Inve

stm

ents

Mat

ured

53,

919

- 7

4,25

8 Sa

le o

f lan

d 3

,188

,965

4

,816

,000

4

,655

,368

Sa

le o

f ext

erna

l pla

nt a

nd e

quip

men

t 2

00,7

75

75,

000

292

,578

7,8

03,1

64

9,6

92,0

00

11,

036,

859

Note

2016

Actu

al $

2016

Budg

et $

2015

Actu

al $

Paym

ents

Purc

hase

of I

nves

tmen

t (3

0,01

4) (2

,983

,000

) (2

1,06

3)Pu

rcha

se o

f Lan

d He

ld fo

r Res

ale

(22,

337)

- (2

6,13

5)Pu

rcha

se o

f Inf

rast

ruct

ure

Asse

ts (5

,843

,928

) (1

2,27

1,00

0) (6

,099

,029

)Pu

rcha

se o

f Lan

d an

d Bu

ildin

gs (1

1,76

1,68

9) (2

3,75

1,00

0) (9

62,1

62)

Purc

hase

of O

ffi ce

Fur

nitu

re a

nd E

quip

men

t (8

25,0

19)

(1,6

12,0

00)

(643

,733

)Pu

rcha

se o

f Ext

erna

l Pla

nt a

nd E

quip

men

t (4

02,3

88)

(1,0

13,5

00)

(637

,107

)W

ork

in p

rogr

ess

13 (1

2,15

1,62

9) (3

,000

,000

) (1

7,87

0,41

9)

(31,

037,

004)

(44,

630,

500)

(26,

259,

648)

Net C

ash

from

/(use

d in

) Inv

estin

g Ac

tiviti

es (2

3,23

3,84

0) (3

4,93

8,50

0) (1

5,22

2,78

9)

Rece

ipts

Proc

eeds

from

bor

row

ing

1,1

25,0

00

2,0

00,0

00

34,

177

Incr

ease

/(Dec

reas

e) in

Dep

osits

and

Bon

ds 1

65,4

53

(100

,000

) (1

32,8

03)

1,2

90,4

53

1,9

00,0

00

(98,

626)

Paym

ents

Repa

ymen

t of b

orro

win

gs (5

90,4

85)

(588

,500

) (1

,138

,925

)

(590

,485

) (5

88,5

00)

(1,1

38,9

25)

Net C

ash

from

/(use

d in

) Fin

anci

ng A

ctiv

ities

699

,968

1

,311

,500

(1

,237

,551

)

Net I

ncre

ase/

(Dec

reas

e) in

Cas

h He

ld (1

5,35

8,81

8) (2

5,62

8,00

0) (7

,056

,774

)

Cash

and

cas

h eq

uiva

lent

s at

the

Begi

nnin

g of

the

Year

32,

544,

972

32,

598,

300

39,

601,

746

Cash

and

cas

h eq

uiva

lent

s at

the

End

of th

e Ye

ar16

17,

186,

154

6,9

70,3

00

32,

544,

972

STAT

EMEN

T O

F CA

SH F

LOW

S FO

R TH

E YE

AR

END

ED 3

0 JU

NE

2016

This

Sta

tem

ent s

houl

d be

read

in c

onju

ncti

on w

ith

the

acco

mpa

nyin

g no

tes.

Note

2016

Actu

al $

2015

Actu

al $

Reve

nue

Gene

ral P

urpo

se F

undi

ng 1

,597

,174

3

,358

,104

Go

vern

ance

122

,791

1

21,1

79

Law,

Ord

er a

nd P

ublic

Saf

ety

145

,764

1

64,6

28

Heal

th 9

9,85

1 7

7,87

0 Ed

ucat

ion

and

Wel

fare

1,1

28,6

34

1,1

00,9

78

Com

mun

ity A

men

ities

2,7

03,7

18

2,8

17,3

68

Recr

eatio

n an

d Cu

lture

9,5

16,2

29

9,2

22,2

32

Tran

spor

t 2

,223

,307

2

,148

,117

Ec

onom

ic Se

rvice

s 4

40,5

52

500

,544

Ot

her P

rope

rty a

nd S

ervic

es 2

,307

,869

2

,901

,677

Tota

l Rev

enue

20,

285,

889

22,

412,

697

Less

: Exp

endi

ture

Gene

ral P

urpo

se F

undi

ng (6

69,4

66)

(575

,735

)Go

vern

ance

(1,8

01,3

51)

(1,7

80,6

03)

Law,

Ord

er a

nd P

ublic

Saf

ety

(1,7

39,2

17)

(1,4

35,8

64)

Heal

th (5

53,2

60)

(568

,040

)Ed

ucat

ion

and

Wel

fare

(1,7

75,7

72)

(1,7

47,5

81)

Com

mun

ity A

men

ities

(6,3

44,4

04)

(5,8

80,6

41)

Recr

eatio

n an

d Cu

lture

(18,

929,

269)

(17,

754,

946)

Tran

spor

t (8

,764

,699

) (8

,221

,307

)Ec

onom

ic Se

rvice

s (5

74,2

00)

(551

,212

)Ot

her P

rope

rty a

nd S

ervic

es (3

,014

,920

) (2

,601

,923

)

Tota

l Exp

endi

ture

(44,

166,

558)

(41,

117,

852)

Net

(23,

880,

669)

(18,

705,

155)

Add

Non

Cash

Exp

endi

ture

Prov

ision

for E

mpl

oyee

Ent

itlem

ents

(Non

Cur

rent

)11

(2,4

47)

(5,3

75)

Adju

stm

ent d

efer

red

rate

s (N

on C

urre

nt)

6 6

0,93

1 3

5,40

1

Depr

ecia

tion

4 7

,796

,072

6

,908

,016

Inte

rest

Cap

italis

ed A

gain

st L

and

( Sou

thpo

rt) -

34,

177

Reva

luat

ion

Emer

ald

Secu

rity

30 4

5,95

9 (8

8,72

0)

Inve

stm

ent i

n Ta

mal

a Pa

rk31

(15,

717)

(602

,307

)

Inve

stm

ent i

n M

inda

rie R

egio

nal C

ounc

il31

(240

,906

) (2

,078

,840

)

7,6

43,8

92

4,2

02,3

52

Note

2016

Actu

al $

2015

Actu

al $

Less

Cap

ital P

rogr

amPu

rcha

se o

f Bui

ldin

gs (1

1,76

1,68

9) (9

62,1

62)

Purc

hase

of F

urni

ture

and

Equ

ipm

ent

(825

,019

) (6

43,7

33)

Purc

hase

of P

lant

and

Equ

ipm

ent

(402

,388

) (6

37,1

07)

Purc

hase

of I

nfra

stru

ctur

e

- Pa

rks

and

Rese

rves

(1,2

27,6

49)

(1,8

87,6

93)

- Ro

ads

and

Lane

s (3

,466

,013

) (1

,830

,345

)

- Dr

aina

ge (4

90,9

16)

(709

,978

)

- Fo

otpa

ths

(600

,590

) (1

,604

,368

)

- Bu

s Sh

elte

r (5

8,76

0) (6

6,64

4)

- W

ork

in P

rogr

ess

(12,

151,

629)

(17,

870,

419)

Land

Dev

elop

men

t Cos

ts C

apita

lised

(30,

014)

(26,

135)

Inve

stm

ent i

n M

inda

rie R

egio

nal C

ounc

il31

(22,

337)

(21,

063)

Repa

ymen

t of D

ebt P

rincip

al

(590

,485

) (1

,138

,925

)

Tran

sfer

s to

Res

erve

(4,5

84,1

78)

(5,1

72,2

05)

Tran

sfer

s to

End

owm

ent L

ands

Acc

ount

(3,8

06,4

01)

(5,5

12,8

17)

(40,

018,

068)

(38,

083,

594)

Add:

Cap

ital R

even

ueCo

ntrib

utio

n fo

r the

dev

elop

men

t of a

sset

s 3

,109

,506

3

,431

,321

Proc

eeds

from

sal

e of

ass

ets

3,3

89,7

40

4,9

47,9

46

Repa

ymen

t of i

nves

tmen

t in

Tam

ala

Park

31 1

,249

,999

2

,583

,334

7,7

49,2

45

10,

962,

601

Plus

: Fun

ding

Sou

rces

Tran

sfer

from

Res

erve

Fun

ds 3

,618

,604

3

,444

,943

Tran

sfer

from

End

owm

ent L

ands

Acc

ount

2

0,08

4,84

5 1

6,09

7,28

5

Loan

s12

1,1

25,0

00

-

Open

ing

Fund

s 3

,636

,000

3

,522

,897

Less

: Clo

sing

Fund

s (3

,429

,500

) (3

,636

,000

)

25,

034,

949

19,

429,

125

Amou

nt R

equi

red

to b

e Ra

ised

from

Rat

es (2

3,47

0,65

1) (2

2,19

4,67

1)

RATE

SET

TIN

G S

TATE

MEN

T FO

R TH

E YE

AR

END

ED 3

0 JU

NE

2016

This

Sta

tem

ent s

houl

d be

read

in c

onju

ncti

on w

ith

the

acco

mpa

nyin

g no

tes.

59Rate Setting Statement

1. Si

gnifi

c ant

acc

ount

ing

polic

ies

(a)

Basi

s of

Pre

para

tion

Th

e fi

nanc

ial r

epor

t com

pris

es g

ener

al p

urpo

se fi

nanc

ial s

tate

men

ts w

hich

has

bee

n pr

epar

ed in

acc

orda

nce

with

Aus

tral

ian

Acc

ount

ing

Stan

dard

s (a

s th

ey a

pply

to lo

cal

gove

rnm

ents

and

not

for p

rofi

t ent

ities

), A

ustr

alia

n A

ccou

ntin

g In

terp

reta

tions

, oth

er

auth

orita

tive

pron

ounc

emen

ts o

f the

Aus

tral

ian

Acc

ount

ing

Stan

dard

s Bo

ard,

the

Loca

l G

over

nmen

t Act

199

5 an

d ac

com

pany

ing

regu

latio

ns.

Mat

eria

l acc

ount

ing

polic

ies

whi

ch

have

bee

n ad

opte

d in

pre

para

tion

of th

is fi

nanc

ial r

epor

t are

pre

sent

ed b

elow

and

hav

e be

en

cons

iste

ntly

app

lied

unle

ss s

tate

d ot

herw

ise.

Ex

cept

for c

ash

fl ow

and

rate

set

ting

stat

emen

t inf

orm

atio

n, th

e re

port

has

bee

n pr

epar

ed

on th

e ac

crua

l bas

is a

nd is

bas

ed o

n hi

stor

ical

cos

ts, m

odifi

ed, w

here

app

licab

le, b

y th

e m

easu

rem

ent a

t fai

r val

ue o

f sel

ecte

d no

n-cu

rren

t ass

ets,

fi na

ncia

l ass

ets

and

liabi

litie

s.

Cr

itica

l Acc

ount

ing

Estim

ates

Th

e pr

epar

atio

n of

a fi

nanc

ial r

epor

t in

conf

orm

ity w

ith A

ustr

alia

n A

ccou

ntin

g St

anda

rds

requ

ires

man

agem

ent t

o m

ake

judg

emen

ts, e

stim

ates

and

ass

umpt

ions

that

aff

ect t

he

appl

icat

ion

of p

olic

ies

and

repo

rted

am

ount

s of

ass

ets

and

liabi

litie

s, in

com

e an

d ex

pens

es.

Th

e es

timat

es a

nd a

ssoc

iate

d as

sum

ptio

ns a

re b

ased

on

hist

oric

al e

xper

ienc

e an

d va

rious

ot

her f

acto

rs th

at a

re b

elie

ved

to b

e re

ason

able

und

er th

e ci

rcum

stan

ces;

the

resu

lts o

f whi

ch

form

the

basi

s of

mak

ing

judg

emen

ts a

bout

car

ryin

g va

lues

of a

sset

s an

d lia

bilit

ies

that

are

no

t rea

dily

app

aren

t fro

m o

ther

sou

rces

. A

ctua

l res

ults

may

dif

fer f

rom

thes

e es

timat

es.

(b)

The

Loca

l Gov

ernm

ent R

epor

ting

Entit

y

A

ll Fu

nds

thro

ugh

whi

ch th

e To

wn

cont

rols

reso

urce

s to

car

ry o

n its

func

tions

hav

e be

en

incl

uded

in th

e fi

nanc

ial s

tate

men

ts fo

rmin

g pa

rt o

f thi

s fi

nanc

ial r

epor

t.

In

the

proc

ess

of re

port

ing

on th

e lo

cal g

over

nmen

t as

a si

ngle

uni

t, al

l tra

nsac

tions

and

ba

lanc

es b

etw

een

thos

e Fu

nds

(for

exa

mpl

e, lo

ans

and

tran

sfer

s be

twee

n Fu

nds)

hav

e be

en

elim

inat

ed.

A

ll m

onie

s he

ld in

the

Trus

t Fun

d ar

e ex

clud

ed fr

om th

e fi

nanc

ial s

tate

men

ts. A

sep

arat

e st

atem

ent o

f tho

se m

onie

s ap

pear

s at

Not

e 2

4 of

thes

e fi

nanc

ial s

tate

men

ts.

(c)

Good

s an

d Se

rvic

es T

ax

Re

venu

es, e

xpen

ses

and

asse

ts a

re re

cogn

ized

net

of t

he a

mou

nt G

ST, e

xcep

t whe

re th

e am

ount

of G

ST in

curr

ed is

not

reco

vera

ble

from

the

Aus

tral

ian

Taxa

tion

Offi

ce

(ATO

).

Re

ceiv

able

s or

pay

able

s ar

e st

ated

incl

usiv

e of

GST

rece

ivab

le o

r pay

able

. Th

e ne

t am

ount

of

GST

reco

vera

ble

from

or p

ayab

le to

the

ATO

is in

clud

ed w

ith re

ceiv

able

s or

pay

able

s in

the

stat

emen

t of fi

nan

cial

pos

ition

.

Ca

sh fl

ows

are

pres

ente

d on

a g

ross

bas

is.

The

GST

com

pone

nts

of c

ash

fl ow

s ar

isin

g fr

om

inve

stin

g or

fi na

ncin

g ac

tiviti

es w

hich

are

reco

vera

ble

from

, or p

ayab

le to

, the

ATO

are

pr

esen

ted

as o

pera

ting

cash

fl ow

s.

(d)

Prop

erty

, Pla

nt a

nd E

quip

men

t

Ea

ch c

lass

of fi

xed

ass

ets

with

in e

ither

pro

pert

y, p

lant

and

equ

ipm

ent o

r inf

rast

ruct

ure

is

carr

ied

at c

ost o

r fai

r val

ue a

s in

dica

ted

less

, whe

re a

pplic

able

, any

acc

umul

ated

dep

reci

atio

n an

d im

pairm

ent l

osse

s.

(i

) Ca

pita

lisat

ion

of N

on-C

urre

nt A

sset

s

Fixe

d as

sets

oth

er th

an in

fras

truc

ture

ass

ets

are

capi

talis

ed if

the

cost

exc

eeds

$1,

000.

In

fras

truc

ture

ass

ets

are

capi

talis

ed if

the

cost

or v

alua

tion

exce

eds

the

follo

win

g fo

r eac

h ty

pe o

f inf

rast

ruct

ure.

Park

s an

d Re

serv

es

$10,

000

Road

s an

d La

nes

$1

0,00

0

Dra

inag

e

$10,

000

Foot

path

s

$2,0

00

Bus

Shel

ters

$2

,000

Und

erpa

sses

$1

0,00

0

The

Chie

f Exe

cutiv

e O

ffi c

er o

r nom

inee

has

dis

cret

ion

to c

apita

lise

asse

ts w

ith a

val

ue o

f $1

,000

or l

ess

havi

ng re

gard

to th

e na

ture

of t

he it

em.

(i

i) D

epre

ciat

ion

The

depr

ecia

ble

amou

nt o

f all

fi xe

d as

sets

incl

udin

g bu

ildin

gs b

ut e

xclu

ding

free

hold

la

nd, a

re d

epre

ciat

ed o

n a

stra

ight

line

bas

is o

ver t

he in

divi

dual

ass

et’s

use

ful l

ife

from

th

e tim

e th

e as

set i

s he

ld re

ady

for u

se.

Leas

ehol

d im

prov

emen

ts a

re d

epre

ciat

ed o

ver

the

shor

ter o

f eith

er th

e un

expi

red

perio

d of

the

leas

e or

the

estim

ated

use

ful l

ife

of

impr

ovem

ents

.

Whe

n an

item

of p

rope

rty,

pla

nt a

nd e

quip

men

t is

reva

lued

, any

acc

umul

ated

de

prec

iatio

n at

the

date

of r

eval

uatio

n is

trea

ted

in o

ne o

f the

follo

win

g w

ays:

(a)

Rest

ated

pro

port

iona

tely

with

the

chan

ge in

the

gros

s ca

rryi

ng a

mou

nt o

f the

ass

et s

o th

at th

e ca

rryi

ng a

mou

nt o

f the

ass

et a

fter

reva

luat

ion

equa

ls it

s re

valu

ed a

mou

nt; o

r

(b)

Elim

inat

ed a

gain

st th

e gr

oss

carr

ying

am

ount

of t

he a

sset

and

the

net a

mou

nt

rest

ated

to th

e re

valu

ed a

mou

nt o

f the

ass

et.

Maj

or d

epre

ciat

ion

perio

ds u

sed

for e

ach

clas

s of

dep

reci

atio

n as

sets

are

:

CATE

GORY

USEF

UL L

IFE

DEPR

ECIA

TION

RAT

E

Build

ings

25-5

0 Ye

ars

4%-2

%

Offi c

e Fu

rnitu

re a

nd E

quip

men

t3-

10 Ye

ars

33.3

%-1

0%

Plan

t and

Equ

ipm

ent

3-10

Year

s33

.3%

-10%

Infra

stru

ctur

e- P

arks

and

Res

erve

s 10

-40

Year

s10

%-2

.5%

- Roa

ds a

nd L

anes

10-8

0 Ye

ars

10%

-1.2

5%- D

rain

age

30-1

00 Ye

ars

3.3%

-1%

- Foo

tpat

hs15

-80

Year

s6.

6%-1

.25%

- Bus

She

lters

15-5

0 Ye

ars

6.6%

-2%

The

asse

t’s re

sidu

al v

alue

s an

d us

eful

live

s ar

e re

view

ed a

nd a

djus

ted

if a

ppro

pria

te, a

t th

e en

d of

eac

h re

port

ing

perio

d.

An

asse

t’s c

arry

ing

amou

nt is

writ

ten

dow

n im

med

iate

ly to

its

reco

vera

ble

amou

nt if

the

asse

t’s c

arry

ing

amou

nt is

gre

ater

than

its

estim

ated

reco

vera

ble

amou

nt.

Gai

ns a

nd lo

sses

on

disp

osal

s ar

e de

term

ined

by

com

parin

g pr

ocee

ds w

ith th

e ca

rryi

ng

amou

nt.

Thes

e ga

ins

and

loss

es a

re in

clud

ed in

the

Stat

emen

t of C

ompr

ehen

sive

Inco

me

in th

e pe

riod

in w

hich

they

aris

e.

Whe

n re

valu

ed a

sset

s ar

e di

spos

ed o

f, am

ount

s in

clud

ed in

the

reva

luat

ion

surp

lus

rela

ting

to th

at a

sset

are

tran

sfer

red

to re

tain

ed s

urpl

us.

(i

ii) M

anda

tory

Req

uire

men

t to

Reva

lue

Non

-Cur

rent

Ass

ets

Effe

ctiv

e fr

om 1

Jul

y 20

12,

the

Loca

l Gov

ernm

ent (

Fina

ncia

l Man

agem

ent)

Reg

ulat

ions

w

ere

amen

ded

and

the

mea

sure

men

t of n

on-c

urre

nt a

sset

s at

Fai

r Val

ue b

ecam

e m

anda

tory

.

Dur

ing

the

year

end

ed 3

0 Ju

ne 2

013

, the

Tow

n co

mm

ence

d th

e pr

oces

s of

ado

ptin

g Fa

ir

Valu

e in

acc

orda

nce

with

the

Regu

latio

ns.

Whi

lst t

he a

men

dmen

ts in

itial

ly a

llow

ed fo

r a

phas

ing

in o

f fai

r val

ue in

rela

tion

to fi

xed

asse

ts o

ver t

hree

yea

rs, a

s at

30

June

201

5 al

l no

n cu

rren

t ass

ets

wer

e ca

rrie

d at

Fai

r Val

ue in

acc

orda

nce

with

the

requ

irem

ents

.

Ther

eaft

er, e

ach

asse

t cla

ss m

ust b

e re

valu

ed in

acc

orda

nce

with

the

regu

lato

ry

fram

ewor

k es

tabl

ishe

d an

d th

e To

wn

reva

lues

its

asse

t cla

sses

in a

ccor

danc

e w

ith th

is

man

dato

ry ti

met

able

.

Rele

vant

dis

clos

ures

, in

acco

rdan

ce w

ith th

e re

quire

men

ts o

f Aus

tral

ian

Acc

ount

ing

Stan

dard

s, h

ave

been

mad

e in

the

fi na

ncia

l rep

ort a

s ne

cess

ary.

(i

v) L

and

Und

er C

ontr

ol

In a

ccor

danc

e w

ith L

ocal

Gov

ernm

ent (

Fina

ncia

l Man

agem

ent)

Reg

ulat

ion

16(a

), th

e To

wn

was

requ

ired

to in

clud

e as

an

asse

t (by

30

June

201

3), C

row

n La

nd o

pera

ted

by

the

loca

l gov

ernm

ent a

s a

golf

cour

se, s

how

grou

nd, r

acec

ours

e or

oth

er s

port

ing

or

recr

eatio

nal f

acili

ty o

f Sta

te o

r reg

iona

l sig

nifi

canc

e. T

own

has

no s

uch

asse

ts o

n Cr

own

Land

with

the

Wem

bley

Gol

f Cou

rse

owne

d fr

eeho

ld.

(v

) Re

valu

atio

n

Incr

ease

s in

the

carr

ying

am

ount

aris

ing

on re

valu

atio

n of

ass

ets

are

cred

ited

to a

re

valu

atio

n su

rplu

s in

equ

ity.

Dec

reas

es th

at o

ffse

t pre

viou

s in

crea

ses

of th

e sa

me

asse

t ar

e re

cogn

ised

aga

inst

the

reva

luat

ion

surp

lus

dire

ctly

in e

quity

. A

ll ot

her d

ecre

ases

are

re

cogn

ised

in p

rofi

t or l

oss.

(v

i) In

itial

Rec

ogni

tion

and

Mea

sure

men

t bet

wee

n m

anda

tory

reva

luat

ion

date

s

All

asse

ts a

re in

itial

ly re

cogn

ised

at c

ost a

nd s

ubse

quen

tly re

valu

ed in

acc

orda

nce

with

th

e m

anda

tory

mea

sure

men

t fra

mew

ork

deta

iled

abov

e.

In re

latio

n to

this

initi

al m

easu

rem

ent,

cost

is d

eter

min

ed a

s th

e fa

ir va

lue

of th

e as

sets

gi

ven

as c

onsi

dera

tion

plus

cos

ts in

cide

ntal

to th

e ac

quis

ition

. Fo

r ass

ets

acqu

ired

at

no c

ost o

r for

nom

inal

con

side

ratio

n, c

ost i

s de

term

ined

as

fair

valu

e at

the

date

of

acqu

isiti

on.

The

cost

of n

on-c

urre

nt a

sset

s co

nstr

ucte

d by

the

Tow

n in

clud

es th

e co

st

of a

ll m

ater

ials

use

d in

con

stru

ctio

n, d

irect

labo

ur o

n th

e pr

ojec

t and

an

appr

opria

te

prop

ortio

n of

var

iabl

e an

d fi

xed

over

head

s.

Indi

vidu

al a

sset

s ac

quire

d be

twee

n in

itial

reco

gniti

on a

nd th

e ne

xt re

valu

atio

n of

the

asse

t cl

ass

in a

ccor

danc

e w

ith th

e m

anda

tory

mea

sure

men

t fra

mew

ork

deta

iled

abov

e, a

re

carr

ied

at c

ost l

ess

accu

mul

ated

dep

reci

atio

n as

man

agem

ent b

elie

ves

this

app

roxi

mat

es

fair

valu

e. T

hey

will

be

subj

ect t

o su

bseq

uent

reva

luat

ion

at th

e ne

xt a

nniv

ersa

ry d

ate

in

acco

rdan

ce w

ith th

e m

anda

tory

mea

sure

men

t fra

mew

ork

deta

iled

abov

e.

(e)

Inta

ngib

le A

sset

s

Ea

sem

ents

Re

gula

tion

16 o

f the

Loc

al G

over

nmen

t (Fi

nanc

ial M

anag

emen

t) R

egul

atio

ns 1

996

requ

ires

ease

men

ts to

be

reco

gnis

ed a

s as

sets

.

Th

e To

wn

has

dete

rmin

ed th

at u

nder

AA

SB 1

38 In

tang

ible

Ass

ets,

eas

emen

ts a

re v

alue

d on

a

hist

oric

al b

asis

, bec

ause

it is

unl

ikel

y th

at a

n ac

tive

mar

ket i

n ea

sem

ents

exi

sts

to a

llow

for f

air

valu

e m

easu

rem

ent.

Due

to a

cqui

sitio

n of

eas

emen

ts a

t nil

valu

es, n

o ea

sem

ents

hav

e be

en

incl

uded

in th

e fi

nanc

ial r

epor

t.

(f)

Land

Und

er R

oads

In

Wes

tern

Aus

tral

ia, a

ll la

nd u

nder

road

s is

Cro

wn

Land

, the

resp

onsi

bilit

y fo

r man

agin

g th

is is

ve

sted

in th

e lo

cal g

over

nmen

t.


CATE

GORY

USEF

UL L

IFE

DEPR

ECIA

TION

RAT

E

Build

ings

25-5

0 Ye

ars

4%-2

%

Offi c

e Fu

rnitu

re a

nd E

quip

men

t3-

10 Ye

ars

33.3

%-1

0%

Plan

t and

Equ

ipm

ent

3-10

Year

s33

.3%

-10%

Infra

stru

ctur

e- P

arks

and

Res

erve

s 10

-40

Year

s10

%-2

.5%

- Roa

ds a

nd L

anes

10-8

0 Ye

ars

10%

-1.2

5%- D

rain

age

30-1

00 Ye

ars

3.3%

-1%

- Foo

tpat

hs15

-80

Year

s6.

6%-1

.25%

- Bus

She

lters

15-5

0 Ye

ars

6.6%

-2%

The

asse

t’s re

sidu

al v

alue

s an

d us

eful

live

s ar

e re

view

ed a

nd a

djus

ted

if a

ppro

pria

te, a

t th

e en

d of

eac

h re

port

ing

perio

d.

An

asse

t’s c

arry

ing

amou

nt is

writ

ten

dow

n im

med

iate

ly to

its

reco

vera

ble

amou

nt if

the

asse

t’s c

arry

ing

amou

nt is

gre

ater

than

its

estim

ated

reco

vera

ble

amou

nt.

Gai

ns a

nd lo

sses

on

disp

osal

s ar

e de

term

ined

by

com

parin

g pr

ocee

ds w

ith th

e ca

rryi

ng

amou

nt.

Thes

e ga

ins

and

loss

es a

re in

clud

ed in

the

Stat

emen

t of C

ompr

ehen

sive

Inco

me

in th

e pe

riod

in w

hich

they

aris

e.

Whe

n re

valu

ed a

sset

s ar

e di

spos

ed o

f, am

ount

s in

clud

ed in

the

reva

luat

ion

surp

lus

rela

ting

to th

at a

sset

are

tran

sfer

red

to re

tain

ed s

urpl

us.

(i

ii) M

anda

tory

Req

uire

men

t to

Reva

lue

Non

-Cur

rent

Ass

ets

Effe

ctiv

e fr

om 1

Jul

y 20

12,

the

Loca

l Gov

ernm

ent (

Fina

ncia

l Man

agem

ent)

Reg

ulat

ions

w

ere

amen

ded

and

the

mea

sure

men

t of n

on-c

urre

nt a

sset

s at

Fai

r Val

ue b

ecam

e m

anda

tory

.

Dur

ing

the

year

end

ed 3

0 Ju

ne 2

013

, the

Tow

n co

mm

ence

d th

e pr

oces

s of

ado

ptin

g Fa

ir

Valu

e in

acc

orda

nce

with

the

Regu

latio

ns.

Whi

lst t

he a

men

dmen

ts in

itial

ly a

llow

ed fo

r a

phas

ing

in o

f fai

r val

ue in

rela

tion

to fi

xed

asse

ts o

ver t

hree

yea

rs, a

s at

30

June

201

5 al

l no

n cu

rren

t ass

ets

wer

e ca

rrie

d at

Fai

r Val

ue in

acc

orda

nce

with

the

requ

irem

ents

.

Ther

eaft

er, e

ach

asse

t cla

ss m

ust b

e re

valu

ed in

acc

orda

nce

with

the

regu

lato

ry

fram

ewor

k es

tabl

ishe

d an

d th

e To

wn

reva

lues

its

asse

t cla

sses

in a

ccor

danc

e w

ith th

is

man

dato

ry ti

met

able

.

Rele

vant

dis

clos

ures

, in

acco

rdan

ce w

ith th

e re

quire

men

ts o

f Aus

tral

ian

Acc

ount

ing

Stan

dard

s, h

ave

been

mad

e in

the

fi na

ncia

l rep

ort a

s ne

cess

ary.

(i

v) L

and

Und

er C

ontr

ol

In a

ccor

danc

e w

ith L

ocal

Gov

ernm

ent (

Fina

ncia

l Man

agem

ent)

Reg

ulat

ion

16(a

), th

e To

wn

was

requ

ired

to in

clud

e as

an

asse

t (by

30

June

201

3), C

row

n La

nd o

pera

ted

by

the

loca

l gov

ernm

ent a

s a

golf

cour

se, s

how

grou

nd, r

acec

ours

e or

oth

er s

port

ing

or

recr

eatio

nal f

acili

ty o

f Sta

te o

r reg

iona

l sig

nifi

canc

e. T

own

has

no s

uch

asse

ts o

n Cr

own

Land

with

the

Wem

bley

Gol

f Cou

rse

owne

d fr

eeho

ld.

(v

) Re

valu

atio

n

Incr

ease

s in

the

carr

ying

am

ount

aris

ing

on re

valu

atio

n of

ass

ets

are

cred

ited

to a

re

valu

atio

n su

rplu

s in

equ

ity.

Dec

reas

es th

at o

ffse

t pre

viou

s in

crea

ses

of th

e sa

me

asse

t ar

e re

cogn

ised

aga

inst

the

reva

luat

ion

surp

lus

dire

ctly

in e

quity

. A

ll ot

her d

ecre

ases

are

re

cogn

ised

in p

rofi

t or l

oss.

(v

i) In

itial

Rec

ogni

tion

and

Mea

sure

men

t bet

wee

n m

anda

tory

reva

luat

ion

date

s

All

asse

ts a

re in

itial

ly re

cogn

ised

at c

ost a

nd s

ubse

quen

tly re

valu

ed in

acc

orda

nce

with

th

e m

anda

tory

mea

sure

men

t fra

mew

ork

deta

iled

abov

e.

In re

latio

n to

this

initi

al m

easu

rem

ent,

cost

is d

eter

min

ed a

s th

e fa

ir va

lue

of th

e as

sets

gi

ven

as c

onsi

dera

tion

plus

cos

ts in

cide

ntal

to th

e ac

quis

ition

. Fo

r ass

ets

acqu

ired

at

no c

ost o

r for

nom

inal

con

side

ratio

n, c

ost i

s de

term

ined

as

fair

valu

e at

the

date

of

acqu

isiti

on.

The

cost

of n

on-c

urre

nt a

sset

s co

nstr

ucte

d by

the

Tow

n in

clud

es th

e co

st

of a

ll m

ater

ials

use

d in

con

stru

ctio

n, d

irect

labo

ur o

n th

e pr

ojec

t and

an

appr

opria

te

prop

ortio

n of

var

iabl

e an

d fi

xed

over

head

s.

Indi

vidu

al a

sset

s ac

quire

d be

twee

n in

itial

reco

gniti

on a

nd th

e ne

xt re

valu

atio

n of

the

asse

t cl

ass

in a

ccor

danc

e w

ith th

e m

anda

tory

mea

sure

men

t fra

mew

ork

deta

iled

abov

e, a

re

carr

ied

at c

ost l

ess

accu

mul

ated

dep

reci

atio

n as

man

agem

ent b

elie

ves

this

app

roxi

mat

es

fair

valu

e. T

hey

will

be

subj

ect t

o su

bseq

uent

reva

luat

ion

at th

e ne

xt a

nniv

ersa

ry d

ate

in

acco

rdan

ce w

ith th

e m

anda

tory

mea

sure

men

t fra

mew

ork

deta

iled

abov

e.

(e)

Inta

ngib

le A

sset

s

Ea

sem

ents

Re

gula

tion

16 o

f the

Loc

al G

over

nmen

t (Fi

nanc

ial M

anag

emen

t) R

egul

atio

ns 1

996

requ

ires

ease

men

ts to

be

reco

gnis

ed a

s as

sets

.

Th

e To

wn

has

dete

rmin

ed th

at u

nder

AA

SB 1

38 In

tang

ible

Ass

ets,

eas

emen

ts a

re v

alue

d on

a

hist

oric

al b

asis

, bec

ause

it is

unl

ikel

y th

at a

n ac

tive

mar

ket i

n ea

sem

ents

exi

sts

to a

llow

for f

air

valu

e m

easu

rem

ent.

Due

to a

cqui

sitio

n of

eas

emen

ts a

t nil

valu

es, n

o ea

sem

ents

hav

e be

en

incl

uded

in th

e fi

nanc

ial r

epor

t.

(f)

Land

Und

er R

oads

In

Wes

tern

Aus

tral

ia, a

ll la

nd u

nder

road

s is

Cro

wn

Land

, the

resp

onsi

bilit

y fo

r man

agin

g th

is is

ve

sted

in th

e lo

cal g

over

nmen

t.

61Notes to and Forming Part of the Financial Report

Ef

fect

ive

as a

t 1 J

uly

2008

, Tow

n el

ecte

d no

t to

reco

gnis

e an

y va

lue

for l

and

unde

r roa

ds a

cqui

red

on o

r bef

ore

30 J

une

2008

. Thi

s acc

ords

with

the

trea

tmen

t ava

ilabl

e in

Aus

tral

ian

Acc

ount

ing

Stan

dard

AA

SB 1

051

Land

Und

er R

oads

and

the

fact

Loc

al G

over

nmen

t (Fi

nanc

ial M

anag

emen

t)

Regu

latio

n 16

(a)(

i) pr

ohib

its lo

cal g

over

nmen

ts fr

om re

cogn

isin

g su

ch la

nd a

s an

asse

t.

In

resp

ect o

f lan

d un

der r

oads

acq

uire

d on

or a

fter

1 J

uly

200

8, a

s de

taile

d ab

ove,

Loc

al

Gov

ernm

ent (

Fina

ncia

l Man

agem

ent)

Reg

ulat

ion

16(a

)(i)

pro

hibi

ts lo

cal g

over

nmen

ts fr

om

reco

gnis

ing

such

land

as

an a

sset

.

W

hils

t suc

h tr

eatm

ent i

s in

cons

iste

nt w

ith th

e re

quire

men

ts o

f AA

SB 1

051,

Loc

al

Gov

ernm

ent (

Fina

ncia

l Man

agem

ent)

Reg

ulat

ion

4(2

) pro

vide

s, in

the

even

t of s

uch

an

inco

nsis

tenc

y, th

e Lo

cal G

over

nmen

t (Fi

nanc

ial M

anag

emen

t) R

egul

atio

ns p

reva

il.

Co

nseq

uent

ly, a

ny la

nd u

nder

road

s ac

quire

d on

or a

fter

1 J

uly

200

8 is

not

incl

uded

as

an

asse

t of t

he T

own.

(g)

Fair

Valu

e of

Ass

ets

and

Liab

ilitie

s

W

hen

perf

orm

ing

a re

valu

atio

n, th

e To

wn

uses

a m

ix o

f bot

h in

depe

nden

t and

man

agem

ent

valu

atio

ns u

sing

the

follo

win

g as

a g

uide

:

Fa

ir Va

lue

is th

e pr

ice

that

Tow

n w

ould

rece

ive

to s

ell t

he a

sset

or w

ould

hav

e to

pay

to

tran

sfer

a li

abili

ty, i

n an

ord

erly

(ie

unfo

rced

) tra

nsac

tion

betw

een

inde

pend

ent,

know

ledg

eabl

e an

d w

illin

g m

arke

t par

ticip

ants

at t

he m

easu

rem

ent d

ate.

A

s fa

ir va

lue

is a

mar

ket-

base

d m

easu

re, t

he c

lose

st e

quiv

alen

t obs

erva

ble

mar

ket p

ricin

g in

form

atio

n is

use

d to

det

erm

ine

fair

valu

e. A

djus

tmen

ts to

mar

ket v

alue

s m

ay b

e m

ade

havi

ng re

gard

to th

e ch

arac

teris

tics

of th

e sp

ecifi

c as

set.

The

fair

valu

es o

f ass

ets

that

are

not

tr

aded

in a

n ac

tive

mar

ket a

re d

eter

min

ed u

sing

one

or m

ore

valu

atio

n te

chni

ques

. The

se

valu

atio

n te

chni

ques

max

imis

e, to

the

exte

nt p

ossi

ble,

the

use

of o

bser

vabl

e m

arke

t dat

a.

To

the

exte

nt p

ossi

ble,

mar

ket i

nfor

mat

ion

is e

xtra

cted

from

eith

er th

e pr

inci

pal m

arke

t for

th

e as

set o

r lia

bilit

y (i

.e. t

he m

arke

t with

the

grea

test

vol

ume

and

leve

l of a

ctiv

ity fo

r the

ass

et

or li

abili

ty) o

r, in

the

abse

nce

of s

uch

a m

arke

t, th

e m

ost a

dvan

tage

ous

mar

ket a

vaila

ble

to th

e en

tity

at th

e en

d of

the

repo

rtin

g pe

riod

(i.e

. the

mar

ket t

hat m

axim

ises

the

rece

ipts

from

the

sale

of t

he a

sset

aft

er ta

king

into

acc

ount

tran

sact

ion

cost

s an

d tr

ansp

ort c

osts

).

Fo

r non

-fi n

anci

al a

sset

s, th

e fa

ir va

lue

mea

sure

men

t als

o ta

kes

into

acc

ount

a m

arke

t pa

rtic

ipan

t’s a

bilit

y to

use

the

asse

t in

its h

ighe

st a

nd b

est u

se o

r to

sell

it to

ano

ther

mar

ket

part

icip

ant t

hat w

ould

use

the

asse

t in

its h

ighe

st a

nd b

est u

se.

Fa

ir Va

lue

Hie

rarc

hy

A

ASB

13

requ

ires

the

disc

losu

re o

f fai

r val

ue in

form

atio

n by

leve

l of t

he fa

ir va

lue

hier

arch

y,

whi

ch c

ateg

oris

es fa

ir va

lue

mea

sure

men

t int

o on

e of

thre

e po

ssib

le le

vels

bas

ed o

n th

e lo

wes

t le

vel t

hat a

n in

put t

hat i

s si

gnifi

cant

to th

e m

easu

rem

ent c

an b

e ca

tego

rised

into

as

follo

ws:

Le

vel 1

M

easu

rem

ents

bas

ed o

n qu

oted

pric

es (u

nadj

uste

d) in

act

ive

mar

kets

for i

dent

ical

ass

ets

or

liabi

litie

s th

at th

e en

tity

can

acce

ss a

t the

mea

sure

men

t dat

e.

Le

vel 2

M

easu

rem

ents

bas

ed o

n in

puts

oth

er th

an q

uote

d pr

ices

incl

uded

in L

evel

1 th

at a

re

obse

rvab

le fo

r the

ass

et o

r lia

bilit

y, e

ither

dire

ctly

or i

ndire

ctly

.

Le

vel 3

M

easu

rem

ents

bas

ed o

n un

obse

rvab

le in

puts

for t

he a

sset

or l

iabi

lity.

Th

e fa

ir va

lues

of a

sset

s an

d lia

bilit

ies

that

are

not

trad

ed in

an

activ

e m

arke

t are

det

erm

ined

us

ing

one

or m

ore

valu

atio

n te

chni

ques

. The

se v

alua

tion

tech

niqu

es m

axim

ise,

to th

e ex

tent

po

ssib

le, t

he u

se o

f obs

erva

ble

mar

ket d

ata.

If a

ll si

gnifi

cant

inpu

ts re

quire

d to

mea

sure

fair

va

lue

are

obse

rvab

le, t

he a

sset

or l

iabi

lity

is in

clud

ed in

Lev

el 2

. If o

ne o

r mor

e si

gnifi

cant

in

puts

are

not

bas

ed o

n ob

serv

able

mar

ket d

ata,

the

asse

t or l

iabi

lity

is in

clud

ed in

Lev

el 3

.

Va

luat

ion

tech

niqu

es

Th

e To

wn

sele

cts

a va

luat

ion

tech

niqu

e th

at is

app

ropr

iate

in th

e ci

rcum

stan

ces

and

for w

hich

su

ffi c

ient

dat

a is

ava

ilabl

e to

mea

sure

fair

valu

e. T

he a

vaila

bilit

y of

suf

fi ci

ent a

nd re

leva

nt

data

prim

arily

dep

ends

on

the

spec

ifi c

char

acte

ristic

s of

the

asse

t or l

iabi

lity

bein

g m

easu

red.

Th

e va

luat

ion

tech

niqu

es s

elec

ted

by th

e To

wn

are

cons

iste

nt w

ith o

ne o

r mor

e of

the

follo

win

g va

luat

ion

appr

oach

es:

M

arke

t app

roac

h

Va

luat

ion

tech

niqu

es th

at u

se p

rices

and

oth

er re

leva

nt in

form

atio

n ge

nera

ted

by m

arke

t tr

ansa

ctio

ns fo

r ide

ntic

al o

r sim

ilar a

sset

s or

liab

ilitie

s.

In

com

e ap

proa

ch

Va

luat

ion

tech

niqu

es th

at c

onve

rt e

stim

ated

futu

re c

ash

fl ow

s or

inco

me

and

expe

nses

into

a

sing

le d

isco

unte

d pr

esen

t val

ue.

Co

st a

ppro

ach

Va

luat

ion

tech

niqu

es th

at re

fl ec

t the

cur

rent

repl

acem

ent c

ost o

f an

asse

t at i

ts c

urre

nt

serv

ice

capa

city

.

Ea

ch v

alua

tion

tech

niqu

e re

quire

s in

puts

that

refl

ect t

he a

ssum

ptio

ns th

at b

uyer

s an

d se

llers

wou

ld u

se w

hen

pric

ing

the

asse

t or l

iabi

lity,

incl

udin

g as

sum

ptio

ns a

bout

risk

s. W

hen

sele

ctin

g a

valu

atio

n te

chni

que,

the

Tow

n gi

ves

prio

rity

to th

ose

tech

niqu

es th

at m

axim

ise

the

use

of o

bser

vabl

e in

puts

and

min

imis

e th

e us

e of

uno

bser

vabl

e in

puts

. Inp

uts

that

are

de

velo

ped

usin

g m

arke

t dat

a (s

uch

as p

ublic

ly a

vaila

ble

info

rmat

ion

on a

ctua

l tra

nsac

tions

) an

d re

fl ec

t the

ass

umpt

ions

that

buy

ers

and

selle

rs w

ould

gen

eral

ly u

se w

hen

pric

ing

the

asse

t or l

iabi

lity

and

cons

ider

ed o

bser

vabl

e, w

here

as in

puts

for w

hich

mar

ket d

ata

is n

ot

avai

labl

e an

d th

eref

ore

are

deve

lope

d us

ing

the

best

info

rmat

ion

avai

labl

e ab

out s

uch

assu

mpt

ions

are

con

side

red

unob

serv

able

.

A

s de

taile

d ab

ove,

the

man

dato

ry m

easu

rem

ent f

ram

ewor

k im

pose

d by

the

Loca

l G

over

nmen

t (Fi

nanc

ial M

anag

emen

t) R

egul

atio

ns re

quire

s, a

s a

min

imum

, all

asse

ts c

arrie

d at

a

reva

lued

am

ount

to b

e re

valu

ed a

t lea

st e

very

3 y

ears

.


(h)

Rate

s, G

rant

s, D

onat

ions

and

Oth

er C

ontr

ibut

ions

Ra

tes,

gra

nts,

don

atio

ns a

nd o

ther

con

trib

utio

ns a

re re

cogn

ised

as

reve

nues

whe

n th

e To

wn

obta

ins

cont

rol o

ver t

he a

sset

s co

mpr

isin

g th

e co

ntrib

utio

ns.

Co

ntro

l ove

r ass

ets

acqu

ired

from

rate

s is

obt

aine

d at

the

com

men

cem

ent o

f the

ratin

g pe

riod

or, w

here

ear

lier,

upon

rece

ipt o

f rat

es.

W

here

con

trib

utio

ns re

cogn

ised

as

reve

nues

dur

ing

the

repo

rtin

g pe

riod

wer

e ob

tain

ed o

n th

e co

nditi

on th

at th

ey a

re e

xpen

ded

in a

par

ticul

ar m

anne

r or u

sed

over

a p

artic

ular

per

iod,

an

d th

ose

cond

ition

s w

ere

undi

scha

rged

as

at th

e re

port

ing

date

, the

nat

ure

of a

nd a

mou

nts

pert

aini

ng to

thos

e un

disc

harg

ed c

ondi

tions

are

dis

clos

ed in

the

note

s ac

com

pany

ing

the

fi na

ncia

l rep

ort.

Th

at n

ote

also

dis

clos

es th

e am

ount

of c

ontr

ibut

ions

reco

gnis

ed a

s re

venu

es in

a p

revi

ous

repo

rtin

g pe

riod

whi

ch w

ere

obta

ined

in re

spec

t of t

he T

own’

s op

erat

ions

for t

he c

urre

nt

repo

rtin

g pe

riod.

(i)

Cash

and

Cas

h Eq

uiva

lent

s

Ca

sh a

nd c

ash

equi

vale

nts

incl

ude

cash

on

hand

, cas

h at

ban

k, d

epos

its a

vaila

ble

on d

eman

d w

ith b

anks

and

oth

er s

hort

term

hig

hly

liqui

d in

vest

men

ts th

at a

re re

adily

con

vert

ible

to

know

n am

ount

s of

cas

h an

d w

hich

are

sub

ject

to a

n in

sign

ifi ca

nt ri

sk o

f cha

nges

in v

alue

and

ba

nk o

verd

raft

s.

Ba

nk o

verd

raft

s ar

e re

port

ed a

s sh

ort t

erm

bor

row

ings

in c

urre

nt li

abili

ties

in th

e st

atem

ent o

f fi

nanc

ial p

ositi

on.

(j)

Inve

ntor

ies

Ge

nera

l

In

vent

orie

s ar

e m

easu

red

at th

e lo

wer

of c

ost a

nd n

et re

alis

able

val

ue.

N

et re

alis

able

val

ue is

the

estim

ated

sel

ling

pric

e in

the

ordi

nary

cou

rse

of b

usin

ess

less

the

estim

ated

cos

ts o

f com

plet

ion

and

the

estim

ated

cos

ts n

eces

sary

to m

ake

the

sale

.

La

nd H

eld

for R

esal

e

La

nd h

eld

for d

evel

opm

ent a

nd s

ale

is v

alue

d at

the

low

er o

f cos

t and

net

real

isab

le v

alue

. Co

st in

clud

es th

e co

st o

f acq

uisi

tion,

dev

elop

men

t, bo

rrow

ing

cost

s an

d ho

ldin

g co

sts

until

co

mpl

etio

n of

dev

elop

men

t. F

inan

ce c

osts

and

hol

ding

cha

rges

incu

rred

aft

er d

evel

opm

ent

is c

ompl

eted

are

exp

ense

d.

G

ains

and

loss

es a

re re

cogn

ised

in p

rofi

t or l

oss

at th

e tim

e of

sig

ning

an

unco

nditi

onal

co

ntra

ct o

f sal

e if

sig

nifi

cant

risk

s an

d re

war

ds, a

nd e

ffec

tive

cont

rol o

ver t

he la

nd, a

re p

asse

d on

to th

e bu

yer a

t thi

s po

int.

La

nd h

eld

for r

esal

e is

cla

ssifi

ed a

s cu

rren

t exc

ept w

here

it is

hel

d as

non

-cur

rent

bas

ed o

n To

wn’

s in

tent

ions

to re

leas

e fo

r sal

e.

(k)

Fina

ncia

l Ins

trum

ents

In

itial

Rec

ogni

tion

and

Mea

sure

men

t

Fi

nanc

ial a

sset

s an

d fi

nanc

ial l

iabi

litie

s ar

e re

cogn

ised

whe

n th

e To

wn

beco

mes

a p

arty

to th

e co

ntra

ctua

l pro

visi

ons

to th

e in

stru

men

t. F

or fi

nanc

ial a

sset

s, th

is is

equ

ival

ent t

o th

e da

te

that

the

Tow

n co

mm

its it

self

to e

ither

the

purc

hase

or t

he s

ale

of th

e as

set (

i.e. t

rade

dat

e ac

coun

ting

is a

dopt

ed).

Fi

nanc

ial i

nstr

umen

ts a

re in

itial

ly m

easu

red

at fa

ir va

lue

plus

tran

sact

ion

cost

s, e

xcep

t whe

re

the

inst

rum

ent i

s cl

assi

fi ed

‘at f

air v

alue

thro

ugh

profi

t o

f los

s’, i

n w

hich

cas

e tr

ansa

ctio

n co

sts

are

expe

nsed

to p

rofi

t or l

oss

imm

edia

tely

.

Cl

assi

fi ca

tion

and

Subs

eque

nt M

easu

rem

ent

Fi

nanc

ial i

nstr

umen

ts a

re s

ubse

quen

tly m

easu

red

at fa

ir va

lue,

am

ortis

ed c

ost u

sing

the

effe

ctiv

e in

tere

st ra

te m

etho

d, o

r cos

t.

A

mor

tised

cos

t is

calc

ulat

ed a

s:

(a

) th

e am

ount

at w

hich

the

fi na

ncia

l ass

et o

r fi n

anci

al li

abili

ty is

mea

sure

d at

initi

al

reco

gniti

on;

(b

) le

ss p

rinci

pal r

epay

men

ts a

nd a

ny re

duct

ion

for i

mpa

irmen

t; an

d

(c

) pl

us o

r min

us th

e cu

mul

ativ

e am

ortis

atio

n of

the

diff

eren

ce, i

f any

, bet

wee

n th

e am

ount

in

itial

ly re

cogn

ised

and

the

mat

urity

am

ount

cal

cula

ted

usin

g th

e ef

fect

ive

inte

rest

rate

m

etho

d.

Th

e ef

fect

ive

inte

rest

met

hod

used

is to

allo

cate

inte

rest

inco

me

or in

tere

st e

xpen

se o

ver t

he

rele

vant

per

iod

and

is e

quiv

alen

t to

the

rate

that

dis

coun

ts e

stim

ated

futu

re c

ash

paym

ents

or

rece

ipts

(inc

ludi

ng fe

es, t

rans

actio

n co

sts

and

othe

r pre

miu

ms

or d

isco

unts

) thr

ough

the

expe

cted

life

(or w

hen

this

can

not b

e re

liabl

y pr

edic

ted,

the

cont

ract

ual t

erm

) of t

he fi

nanc

ial

inst

rum

ent t

o th

e ne

t car

ryin

g am

ount

of t

he fi

nanc

ial a

sset

or fi

nan

cial

liab

ility

. Rev

isio

ns

to e

xpec

ted

futu

re n

et c

ash

fl ow

s w

ill n

eces

sita

te a

n ad

just

men

t to

the

carr

ying

val

ue w

ith a

co

nseq

uent

ial r

ecog

nitio

n of

an

inco

me

or e

xpen

se in

pro

fi t o

r los

s.

(i

) Fi

nanc

ial a

sset

s at

fair

valu

e th

roug

h pr

ofi t

and

loss

Fina

ncia

l ass

ets

are

clas

sifi

ed a

t “fa

ir va

lue

thro

ugh

profi

t o

r los

s” w

hen

they

are

hel

d fo

r tra

ding

for t

he p

urpo

se o

f sho

rt-t

erm

pro

fi t t

akin

g. S

uch

asse

ts a

re s

ubse

quen

tly

mea

sure

d at

fair

valu

e w

ith c

hang

es in

car

ryin

g am

ount

bei

ng in

clud

ed in

pro

fi t o

r los

s.

Ass

ets

in th

is c

ateg

ory

are

clas

sifi

ed a

s cu

rren

t ass

ets.

(i

i) L

oans

and

rece

ivab

les

Loan

s an

d re

ceiv

able

s ar

e no

n-de

rivat

ive

fi na

ncia

l ass

ets

with

fi xe

d or

det

erm

inab

le

paym

ents

tha

t ar

e n

ot q

uote

d in

an

act

ive

mar

ket

and

are

sub

sequ

ently

mea

sure

d

at a

mor

tised

cos

t. G

ains

or l

osse

s ar

e re

cogn

ised

in p

rofi

t or l

oss.

Loa

ns a

nd re

ceiv

able

s ar

e in

clud

ed in

cur

rent

ass

ets

whe

re th

ey a

re e

xpec

ted

to m

atur

e w

ithin

12

mon

ths

afte

r th

e en

d of

the

repo

rtin

g pe

riod.


(i

ii) H

eld-

to-m

atur

ity in

vest

men

ts

Hel

d-to

-mat

urity

inve

stm

ents

are

non

-der

ivat

ive

fi na

ncia

l ass

ets

with

fi xe

d m

atur

ities

an

d fi

xed

or d

eter

min

able

pay

men

ts th

at th

e To

wn

has

the

posi

tive

inte

ntio

n an

d ab

ility

to

hol

d to

mat

urity

. The

y ar

e su

bseq

uent

ly m

easu

red

at a

mor

tised

cos

t. G

ains

or l

osse

s ar

e re

cogn

ised

in p

rofi

t or l

oss.

Hel

d-to

-mat

urity

inve

stm

ents

are

incl

uded

in c

urre

nt a

sset

s w

here

they

are

exp

ecte

d to

m

atur

e w

ithin

12

mon

ths

afte

r the

end

of t

he re

port

ing

perio

d. A

ll ot

her i

nves

tmen

ts a

re

clas

sifi

ed a

s no

n-cu

rren

t.

(i

v)

Ava

ilabl

e-fo

r-sa

le fi

nanc

ial a

sset

s

Ava

ilabl

e-fo

r-sa

le fi

nanc

ial a

sset

s ar

e no

n-de

rivat

ive

fi na

ncia

l ass

ets

that

are

eith

er n

ot

suita

ble

to b

e cl

assi

fi ed

into

oth

er c

ateg

orie

s of

fi na

ncia

l ass

ets

due

to th

eir n

atur

e, o

r th

ey a

re d

esig

nate

d as

suc

h by

man

agem

ent.

They

com

pris

e in

vest

men

ts in

the

equi

ty o

f ot

her e

ntiti

es w

here

ther

e is

nei

ther

a fi

xed

mat

urity

nor

fi xe

d or

det

erm

inab

le p

aym

ents

.

They

are

sub

sequ

ently

mea

sure

d at

fair

valu

e w

ith c

hang

es in

suc

h fa

ir va

lue

(i.e

. gai

ns o

r lo

sses

) rec

ogni

sed

in o

ther

com

preh

ensi

ve in

com

e (e

xcep

t for

impa

irmen

t los

ses)

. Whe

n th

e fi

nanc

ial a

sset

is d

erec

ogni

sed,

the

cum

ulat

ive

gain

or l

oss

pert

aini

ng to

that

ass

et

prev

ious

ly re

cogn

ised

in o

ther

com

preh

ensi

ve in

com

e is

recl

assi

fi ed

into

pro

fi t o

r los

s.

Ava

ilabl

e-fo

r-sa

le fi

nanc

ial a

sset

s ar

e in

clud

ed in

cur

rent

ass

ets,

whe

re th

ey a

re e

xpec

ted

to b

e so

ld w

ithin

12

mon

ths

afte

r the

end

of t

he re

port

ing

perio

d. A

ll ot

her a

vaila

ble-

for-

sale

fi na

ncia

l ass

ets

are

clas

sifi

ed a

s no

n-cu

rren

t.

(v

) Fi

nanc

ial l

iabi

litie

s

Non

-der

ivat

ive

fi na

ncia

l lia

bilit

ies

(exc

ludi

ng fi

nanc

ial g

uara

ntee

s) a

re s

ubse

quen

tly

mea

sure

d at

am

ortis

ed c

ost.

Gai

ns o

r los

ses

are

reco

gnis

ed in

pro

fi t o

r los

s.

Im

pairm

ent

A

fi na

ncia

l ass

et is

dee

med

to b

e im

paire

d if,

and

onl

y if,

ther

e is

obj

ectiv

e ev

iden

ce o

f im

pairm

ent a

s a

resu

lt of

one

or m

ore

even

ts (a

“los

s ev

ent”

) hav

ing

occu

rred

, whi

ch h

as a

n im

pact

on

the

estim

ated

futu

re c

ash

fl ow

s of

the

fi na

ncia

l ass

et(s

).

In

the

case

of a

vaila

ble-

for-

sale

fi na

ncia

l ass

ets,

a s

igni

fi ca

nt o

r pro

long

ed d

eclin

e in

the

mar

ket v

alue

of t

he in

stru

men

t is

cons

ider

ed a

loss

eve

nt. I

mpa

irmen

t los

ses

are

reco

gnis

ed

in p

rofi

t or l

oss

imm

edia

tely

. Als

o, a

ny c

umul

ativ

e de

clin

e in

fair

valu

e pr

evio

usly

reco

gnis

ed

in o

ther

com

preh

ensi

ve in

com

e is

recl

assi

fi ed

to p

rofi

t or l

oss

at th

is p

oint

.

In

the

case

of fi

nan

cial

ass

ets

carr

ied

at a

mor

tised

cos

t, lo

ss e

vent

s m

ay in

clud

e: in

dica

tions

th

at th

e de

btor

s or

a g

roup

of d

ebto

rs a

re e

xper

ienc

ing

sign

ifi ca

nt fi

nanc

ial d

iffi

culty

, def

ault

or d

elin

quen

cy in

inte

rest

or p

rinci

pal p

aym

ents

; ind

icat

ions

that

they

will

ent

er b

ankr

uptc

y or

ot

her fi

nan

cial

reor

gani

satio

n; a

nd c

hang

es in

arr

ears

or e

cono

mic

con

ditio

ns th

at c

orre

late

w

ith d

efau

lts.

Fo

r fi n

anci

al a

sset

s ca

rrie

d at

am

ortis

ed c

ost (

incl

udin

g lo

ans

and

rece

ivab

les)

, a s

epar

ate

allo

wan

ce a

ccou

nt is

use

d to

redu

ce th

e ca

rryi

ng a

mou

nt o

f fi n

anci

al a

sset

s im

paire

d by

cre

dit l

osse

s. A

fter

hav

ing

take

n al

l pos

sibl

e m

easu

res

of re

cove

ry, i

f man

agem

ent

esta

blis

hes

that

the

carr

ying

am

ount

can

not b

e re

cove

red

by a

ny m

eans

, at t

hat p

oint

th

e w

ritte

n-of

f am

ount

s ar

e ch

arge

d to

the

allo

wan

ce a

ccou

nt o

r the

car

ryin

g am

ount

of

impa

ired

fi na

ncia

l ass

ets

is re

duce

d di

rect

ly if

no

impa

irmen

t am

ount

was

pre

viou

sly

reco

gnis

ed in

the

allo

wan

ce a

ccou

nt.

D

erec

ogni

tion

Fi

nanc

ial a

sset

s ar

e de

reco

gnis

ed w

here

the

cont

ract

ual r

ight

s to

rece

ipt o

f cas

h fl

ows

expi

re

or th

e as

set i

s tr

ansf

erre

d to

ano

ther

par

ty w

here

by th

e To

wn

no lo

nger

has

any

sig

nifi

cant

co

ntin

ual i

nvol

vem

ent i

n th

e ris

ks a

nd b

enefi

ts

asso

ciat

ed w

ith th

e as

set.

Fi

nanc

ial l

iabi

litie

s ar

e de

reco

gnis

ed w

here

the

rela

ted

oblig

atio

ns a

re d

isch

arge

d, c

ance

lled

or e

xpire

d. T

he d

iffe

renc

e be

twee

n th

e ca

rryi

ng a

mou

nt o

f the

fi na

ncia

l lia

bilit

y ex

tingu

ishe

d or

tran

sfer

red

to a

noth

er p

arty

and

the

fair

valu

e of

the

cons

ider

atio

n pa

id, i

nclu

ding

the

tran

sfer

of n

on-c

ash

asse

ts o

r lia

bilit

ies

assu

med

, is

reco

gnis

ed in

pro

fi t o

r los

s.

(l)

Impa

irmen

t of A

sset

s

In

acc

orda

nce

with

Aus

tral

ian

Acc

ount

ing

Stan

dard

s th

e To

wn’

s as

sets

, oth

er th

an in

vent

orie

s,

are

asse

ssed

at e

ach

repo

rtin

g da

te to

det

erm

ine

whe

ther

ther

e is

any

indi

catio

n th

ey m

ay b

e im

paire

d.

W

here

suc

h an

indi

catio

n ex

ists

, an

impa

irmen

t tes

t is

carr

ied

out o

n th

e as

set b

y co

mpa

ring

the

reco

vera

ble

amou

nt o

f the

ass

et, b

eing

the

high

er o

f the

ass

et’s

fair

valu

e le

ss c

osts

to s

ell

and

valu

e in

use

, to

the

asse

t’s c

arry

ing

amou

nt.

A

ny e

xces

s of

the

asse

t’s c

arry

ing

amou

nt o

ver i

ts re

cove

rabl

e am

ount

is re

cogn

ised

im

med

iate

ly in

pro

fi t o

r los

s, u

nles

s th

e as

set i

s ca

rrie

d at

a re

valu

ed a

mou

nt in

acc

orda

nce

with

ano

ther

sta

ndar

d (e

.g. A

ASB

116

) whe

reby

any

impa

irmen

t los

s o

f a

reva

lued

ass

et is

tr

eate

d as

a re

valu

atio

n de

crea

se in

acc

orda

nce

with

that

oth

er s

tand

ard.

Fo

r non

-cas

h ge

nera

ting

asse

ts s

uch

as ro

ads,

dra

ins,

pub

lic b

uild

ings

and

the

like,

val

ue in

us

e is

repr

esen

ted

by th

e de

prec

iate

d re

plac

emen

t cos

t of t

he a

sset

.

(m) L

ease

s

Le

ases

of fi

xed

ass

ets

whe

re s

ubst

antia

lly a

ll th

e ris

ks a

nd b

enefi

ts

inci

dent

al to

the

owne

rshi

p of

the

asse

t, bu

t not

lega

l ow

ners

hip,

are

tran

sfer

red

to th

e To

wn,

are

cla

ssifi

ed a

s fi

nanc

e le

ases

.

Fi

nanc

e le

ases

are

cap

italis

ed re

cord

ing

an a

sset

and

a li

abili

ty a

t the

low

er a

mou

nts

equa

l to

the

fair

valu

e of

the

leas

ed p

rope

rty

or th

e pr

esen

t val

ue o

f the

min

imum

leas

e pa

ymen

ts,

incl

udin

g an

y gu

aran

teed

resi

dual

val

ues.

Lea

se p

aym

ents

are

allo

cate

d be

twee

n th

e re

duct

ion

of th

e le

ase

liabi

lity

and

the

leas

e in

tere

st e

xpen

se fo

r the

per

iod.

Lea

sed

asse

ts

are

depr

ecia

ted

on a

str

aigh

t lin

e ba

sis

over

the

shor

ter o

f the

ir es

timat

ed u

sefu

l liv

es o

r the

le

ase

term

.


Le

ase

paym

ents

for o

pera

ting

leas

es, w

here

sub

stan

tially

all

the

risks

and

ben

efi t

s re

mai

n w

ith th

e le

ssor

, are

cha

rged

as

expe

nses

in th

e pe

riods

in w

hich

they

are

incu

rred

. Le

ase

ince

ntiv

es u

nder

ope

ratin

g le

ases

are

reco

gnis

ed a

s a

liabi

lity

and

amor

tised

on

a st

raig

ht li

ne

basi

s ov

er th

e lif

e of

the

leas

e te

rm.

(n)

Empl

oyee

Ben

efi t

s

(i

) Le

ave

Entit

lem

ents

Ann

ual L

eave

and

Lon

g Se

rvic

e Le

ave

(Sho

rt T

erm

Ben

efi t

s)

Prov

isio

n is

mad

e fo

r the

Tow

n’s

oblig

atio

ns fo

r sho

rt te

rm e

mpl

oyee

ben

efi t

s. S

hort

te

rm e

mpl

oyee

ben

efi t

s ar

e be

nefi

ts (o

ther

than

term

inat

ion

bene

fi ts

) tha

t are

exp

ecte

d to

be

sett

led

who

lly b

efor

e 12

mon

ths

afte

r the

end

of t

he a

nnua

l rep

ortin

g pe

riod

in

whi

ch th

e em

ploy

ees

rend

er th

e re

late

d se

rvic

e, in

clud

ing

wag

es, s

alar

ies

and

sick

lea

ve.

Shor

t ter

m e

mpl

oyee

ben

efi t

s ar

e m

easu

red

at th

e (u

ndis

coun

ted)

am

ount

s ex

pect

ed to

be

pai

d w

hen

the

oblig

atio

n is

set

tled.

The

Tow

n’s

oblig

atio

ns fo

r sho

rt te

rm e

mpl

oyee

ben

efi t

s su

ch a

s w

ages

, sal

arie

s an

d si

ck

leav

e ar

e re

cogn

ised

as

a pa

rt o

f cur

rent

trad

e an

d ot

her p

ayab

les

in th

e St

atem

ent o

f Fi

nanc

ial P

ositi

on.

The

Tow

n’s

oblig

atio

ns fo

r em

ploy

ees’

ann

ual l

eave

and

long

ser

vice

le

ave

entit

lem

ents

are

reco

gnis

ed a

s pr

ovis

ions

in th

e St

atem

ent o

f Fin

anci

al P

ositi

on.

Ann

ual L

eave

and

Lon

g Se

rvic

e Le

ave

(Lon

g Te

rm B

enefi

ts)

Prov

isio

n is

mad

e fo

r em

ploy

ees’

long

ser

vice

leav

e an

d an

nual

leav

e en

title

men

ts n

ot

expe

cted

to b

e se

ttle

d w

holly

with

in 1

2 m

onth

s af

ter t

he e

nd o

f the

ann

ual r

epor

ting

perio

d in

whi

ch th

e em

ploy

ees

rend

er th

e re

late

d se

rvic

e. O

ther

long

term

em

ploy

ee

bene

fi ts

are

mea

sure

d at

the

pres

ent v

alue

of t

he p

rese

nt v

alue

of t

he e

xpec

ted

futu

re

paym

ents

to b

e m

ade

to e

mpl

oyee

s. E

xpec

ted

futu

re p

aym

ents

inco

rpor

ate

antic

ipat

ed

futu

re w

age

and

sala

ry le

vels

, dur

atio

ns o

r ser

vice

and

em

ploy

ee d

epar

ture

s an

d ar

e di

scou

nted

at r

ates

det

erm

ined

by

refe

renc

e to

mar

ket y

ield

s at

the

end

of th

e re

port

ing

perio

d on

gov

ernm

ent b

onds

that

hav

e m

atur

ity d

ates

that

app

roxi

mat

e th

e te

rms

of th

e ob

ligat

ions

. A

ny re

mea

sure

men

ts fo

r cha

nges

in a

ssum

ptio

ns o

f obl

igat

ions

for o

ther

lo

ng te

rm e

mpl

oyee

ben

efi t

s ar

e re

cogn

ised

in p

rofi

t or l

oss

in th

e pe

riods

in w

hich

the

chan

ges

occu

r.

The

Tow

n’s

oblig

atio

ns fo

r lon

g te

rm e

mpl

oyee

ben

efi t

s ar

e pr

esen

ted

as n

on-c

urre

nt

prov

isio

ns in

its

Stat

emen

t of F

inan

cial

Pos

ition

, exc

ept w

here

the

Tow

n do

es n

ot h

ave

an u

ncon

ditio

nal r

ight

to d

efer

set

tlem

ent f

or a

t lea

st 1

2 m

onth

s af

ter t

he e

nd o

f the

re

port

ing

perio

d, in

whi

ch c

ase

the

oblig

atio

ns a

re p

rese

nted

as

curr

ent p

rovi

sion

s.

(i

i) S

uper

annu

atio

n

The

Tow

n m

eets

the

stat

utor

y re

quire

men

ts o

f the

Sup

eran

nuat

ion

Gua

rant

ee A

ct b

y co

ntrib

utin

g th

e m

inim

um 9

.50%

to th

e W

A L

ocal

Gov

ernm

ent S

uper

annu

atio

n Pl

an o

r th

e Ci

ty o

f Per

th S

uper

annu

atio

n Sc

hem

e de

pend

ing

on th

e em

ploy

ee’s

mem

bers

hip

stat

us. T

he T

own

also

con

trib

utes

an

addi

tiona

l 5%

to th

e W

A L

ocal

Gov

ernm

ent

Supe

rann

uatio

n Pl

an a

nd a

n ad

ditio

nal 5

% to

the

City

of P

erth

Sup

eran

nuat

ion

Sche

me

whe

re v

olun

tary

con

trib

utio

ns a

re m

ade

by e

mpl

oyee

s.

The

Tow

n co

ntrib

utio

ns a

re c

harg

ed a

gain

st re

venu

e in

the

fi na

ncia

l yea

rs to

whi

ch th

e pa

ymen

ts re

late

.

(o)

Borr

owin

g Co

sts

Bo

rrow

ing

cost

s ar

e re

cogn

ised

as

an e

xpen

se w

hen

incu

rred

exc

ept w

here

they

are

dire

ctly

at

trib

utab

le to

the

acqu

isiti

on, c

onst

ruct

ion

or p

rodu

ctio

n of

a q

ualif

ying

ass

et.

Whe

re th

is is

th

e ca

se, t

hey

are

capi

talis

ed a

s pa

rt o

f the

cos

t of t

he p

artic

ular

ass

et u

ntil

such

tim

e as

the

asse

t is

subs

tant

ially

read

y fo

r its

inte

nded

use

or s

ale.

(p)

Trad

e an

d O

ther

Pay

able

s

Tr

ade

and

othe

r pay

able

s re

pres

ent l

iabi

litie

s fo

r goo

ds a

nd s

ervi

ces

prov

ided

to th

e To

wn

prio

r to

the

end

of th

e fi

nanc

ial y

ear t

hat a

re u

npai

d an

d ar

ise

whe

n th

e To

wn

beco

mes

ob

liged

to m

ake

futu

re p

aym

ents

in re

spec

t of t

he p

urch

ase

of th

ese

good

s an

d se

rvic

es.

The

amou

nts

are

unse

cure

d, a

re re

cogn

ised

as

a cu

rren

t lia

bilit

y an

d ar

e no

rmal

ly p

aid

with

in

thirt

y da

ys o

f rec

ogni

tion.

(q)

Prov

isio

ns

Pr

ovis

ions

are

reco

gnis

ed w

hen

the

Tow

n ha

s a

pres

ent l

egal

or c

onst

ruct

ive

oblig

atio

n as

a

resu

lt of

pas

t eve

nts;

for w

hich

it is

pro

babl

e th

at a

n ou

tfl o

w o

f eco

nom

ic b

enefi

ts

will

resu

lt an

d th

at o

utfl

ow c

an b

e re

liabl

y m

easu

red.

Pr

ovis

ions

are

mea

sure

d us

ing

the

best

est

imat

e of

the

amou

nts

requ

ired

to s

ettle

the

oblig

atio

n at

the

end

of th

e re

port

ing

perio

d.

(r)

Inve

stm

ents

in A

ssoc

iate

s

A

n as

soci

ate

is a

n en

tity

over

whi

ch th

e To

wn

has

sign

ifi ca

nt in

fl ue

nce.

Sig

nifi

cant

infl

uenc

e is

the

pow

er to

par

ticip

ate

in th

e fi

nanc

ial o

pera

ting

polic

y de

cisi

ons

of th

at e

ntity

but

is n

ot

cont

rol o

r joi

nt c

ontr

ol o

f tho

se p

olic

ies.

Inve

stm

ents

in a

ssoc

iate

s ar

e ac

coun

ted

for i

n th

e fi

nanc

ial s

tate

men

ts b

y ap

plyi

ng th

e eq

uity

met

hod

of a

ccou

ntin

g, w

here

by th

e in

vest

men

t is

initi

ally

reco

gnis

ed a

t cos

t and

adj

uste

d th

erea

fter

for t

he p

ost-

acqu

isiti

on c

hang

e in

the

Tow

n’s

shar

e of

net

ass

ets

of th

e as

soci

ate.

In a

dditi

on, t

he T

own’

s sh

are

of th

e pr

ofi t

or l

oss

of th

e as

soci

ate

is in

clud

ed in

the

Tow

n’s

profi

t o

r los

s.

Th

e ca

rryi

ng a

mou

nt o

f the

inve

stm

ent i

nclu

des,

whe

re a

pplic

able

, goo

dwill

rela

ting

to th

e as

soci

ate.

Any

dis

coun

t on

acqu

isiti

on, w

here

by th

e To

wn’

s sh

are

of th

e ne

t fai

r val

ue o

f the

as

soci

ate

exce

eds

the

cost

of i

nves

tmen

t, is

reco

gnis

ed in

pro

fi t o

r los

s in

the

perio

d in

whi

ch

the

inve

stm

ent i

s ac

quire

d.

Pr

ofi t

s an

d lo

sses

resu

lting

from

tran

sact

ions

bet

wee

n th

e To

wn

and

the

asso

ciat

e ar

e el

imin

ated

to th

e ex

tent

of t

he T

own’

s in

tere

st in

the

asso

ciat

e.


W

hen

the

Tow

n’s

shar

e of

loss

es in

an

asso

ciat

e eq

uals

or e

xcee

ds it

s in

tere

st in

the

asso

ciat

e,

the

Tow

n di

scon

tinue

s re

cogn

isin

g its

sha

re o

f fur

ther

loss

es u

nles

s it

has

incu

rred

lega

l or

cons

truc

tive

oblig

atio

ns o

r mad

e pa

ymen

ts o

n be

half

of th

e as

soci

ate.

Whe

n th

e as

soci

ate

subs

eque

ntly

mak

es p

rofi

ts, t

he T

own

will

resu

me

reco

gnis

ing

its s

hare

of t

hose

pro

fi ts

onc

e its

sha

re o

f the

pro

fi ts

equ

als

the

shar

e of

the

loss

es n

ot re

cogn

ised

.

(s)

Inte

rest

s in

Joi

nt A

rran

gem

ents

Jo

int a

rran

gem

ents

repr

esen

t the

con

trac

tual

sha

ring

of c

ontr

ol b

etw

een

part

ies

in a

bus

ines

s ve

ntur

e w

here

una

nim

ous

deci

sion

s ab

out r

elev

ant a

ctiv

ities

are

requ

ired.

Se

para

te jo

int v

entu

re e

ntiti

es p

rovi

ding

join

t ven

ture

rs w

ith a

n in

tere

st to

net

ass

ets

are

clas

sifi

ed a

s a

join

t ven

ture

and

acc

ount

ed fo

r usi

ng th

e eq

uity

met

hod.

Ref

er to

not

e 1(

r) fo

r a

desc

riptio

n of

the

equi

ty m

etho

d of

acc

ount

ing.

Jo

int v

entu

re o

pera

tions

repr

esen

t arr

ange

men

ts w

here

by jo

int o

pera

tors

mai

ntai

n di

rect

in

tere

sts

in e

ach

asse

t and

exp

osur

e to

eac

h lia

bilit

y of

the

arra

ngem

ent.

The

Tow

n’s

inte

rest

s in

the

asse

ts, l

iabi

litie

s, re

venu

e an

d ex

pens

es o

f joi

nt o

pera

tions

are

incl

uded

in th

e re

spec

tive

line

item

s of

the

fi na

ncia

l sta

tem

ents

. Inf

orm

atio

n ab

out t

he jo

int v

entu

res

is s

et

out i

n no

tes

acco

mpa

nyin

g th

e fi

nanc

ial r

epor

t.

(t)

Trad

e an

d ot

her R

ecei

vabl

es

Tr

ade

rece

ivab

les

and

othe

r rec

eiva

bles

incl

ude

amou

nts

due

from

rate

paye

rs fo

r unp

aid

rate

s an

d se

rvic

e ch

arge

s an

d ot

her a

mou

nts

due

from

third

par

ties

for g

oods

sol

d an

d se

rvic

es p

erfo

rmed

in th

e or

dina

ry c

ours

e of

bus

ines

s.

Re

ceiv

able

s ex

pect

ed to

be

colle

cted

with

in 1

2 m

onth

s of

the

end

of th

e re

port

ing

perio

d ar

e cl

assi

fi ed

as

curr

ent a

sset

s. A

ll ot

her r

ecei

vabl

es a

re c

lass

ifi ed

as

non-

curr

ent a

sset

s.

Co

llect

abili

ty o

f tra

de a

nd o

ther

rece

ivab

les

is re

view

ed o

n an

ong

oing

bas

is.

Deb

ts th

at a

re

know

n to

be

unco

llect

able

are

writ

ten

off w

hen

iden

tifi e

d. A

n al

low

ance

for d

oubt

ful d

ebts

is

rais

ed w

hen

ther

e is

obj

ectiv

e ev

iden

ce th

at th

ey w

ill n

ot b

e co

llect

able

.

(u)

Roun

ding

A

ll fi

gure

s sh

own

in th

e fi

nanc

ial r

epor

t, ot

her t

han

a ra

te in

the

dolla

r, ar

e ro

unde

d to

the

near

est d

olla

r.

(v)

Com

para

tives

W

here

requ

ired,

com

para

tive

fi gu

res

have

bee

n ad

just

ed to

con

form

with

cha

nges

in th

e pr

esen

tatio

n fo

r the

cur

rent

fi na

ncia

l yea

r.

W

hen

the

Tow

n ap

plie

s an

acc

ount

ing

polic

y re

tros

pect

ivel

y, m

akes

a re

tros

pect

ive

rest

atem

ent o

r rec

lass

ifi es

item

s in

its

fi na

ncia

l sta

tem

ent,

an a

dditi

onal

(thi

rd) s

tate

men

t of

fi na

ncia

l pos

ition

as

at th

e be

ginn

ing

of th

e pr

eced

ing

perio

d in

add

ition

to th

e m

inim

um

com

para

tive

fi na

ncia

l sta

tem

ents

is p

rese

nted

.

U

nles

s ot

herw

ise

stat

ed, t

he b

udge

t com

para

tive

fi gu

res

show

n in

this

ann

ual fi

nan

cial

repo

rt

rela

te to

the

orig

inal

bud

get e

stim

ate

for t

he re

leva

nt it

em o

f dis

clos

ure.

(w) C

urre

nt a

nd N

on-C

urre

nt C

lass

ifi ca

tion

In

the

dete

rmin

atio

n of

whe

ther

an

asse

t or l

iabi

lity

is c

urre

nt o

r non

-cur

rent

, con

side

ratio

n is

giv

en to

tim

e w

hen

each

ass

et o

r lia

bilit

y is

exp

ecte

d to

be

sett

led.

The

ass

et o

r lia

bilit

y is

cl

assi

fi ed

as

curr

ent i

f it i

s ex

pect

ed to

be

sett

led

with

in th

e ne

xt 1

2 m

onth

s, b

eing

the

Tow

n’s

oper

atio

nal c

ycle

. In

the

case

of l

iabi

litie

s w

here

the

Tow

n do

es n

ot h

ave

unco

nditi

onal

righ

t to

def

er s

ettle

men

t bey

ond

12 m

onth

s, s

uch

as v

este

d lo

ng s

ervi

ce le

ave,

the

liabi

lity

is

clas

sifi

ed a

s cu

rren

t eve

n if

not

exp

ecte

d to

be

real

ised

in th

e ne

xt 1

2 m

onth

s. I

nven

torie

s he

ld fo

r tra

ding

are

cla

ssifi

ed a

s cu

rren

t eve

n if

not

exp

ecte

d to

be

real

ised

in th

e ne

xt 1

2

mon

ths

exce

pt fo

r lan

d he

ld fo

r sal

e w

here

it is

hel

d as

non

-cur

rent

bas

ed o

n th

e To

wn’

s in

tent

ions

to re

leas

e fo

r sal

e.

(x)

Inte

rest

in J

oint

Ven

ture

Th

e To

wn

is a

par

ticip

ant i

n bo

th th

e M

inda

rie R

egio

nal C

ounc

il an

d Ta

mal

a Pa

rk R

egio

nal

Coun

cil w

ith s

ix o

ther

Cou

ncils

, nam

ely

the

Citie

s of

Joo

ndal

up, W

anne

roo,

Stir

ling,

Per

th a

nd

Vin

cent

and

the

Tow

n of

Vic

toria

Par

k.

In

tere

st in

Joi

nt V

entu

re is

acc

ount

ed fo

r by

appl

ying

the

equi

ty m

etho

d. U

nder

this

met

hod

of a

ccou

ntin

g in

tere

st in

a jo

intly

con

trol

led

entit

y is

initi

ally

reco

rded

at c

ost a

nd a

djus

ted

ther

eaft

er fo

r the

pos

t acq

uisi

tion

chan

ge in

the

vent

urer

’s s

hare

of n

et a

sset

s of

the

join

tly

cont

rolle

d en

tity.

Fo

r fur

ther

det

ails

rela

ting

to th

e In

tere

st in

Joi

nt V

entu

re re

fer t

o no

te 3

1.

(y)

Ado

ptio

n of

New

and

Rev

ised

Acc

ount

ing

Stan

dard

s

D

urin

g th

e cu

rren

t yea

r, th

e To

wn

adop

ted

all o

f the

new

and

revi

sed

Aus

tral

ian

Acc

ount

ing

Stan

dard

s an

d In

terp

reta

tions

whi

ch w

ere

com

pile

d, b

ecam

e m

anda

tory

and

whi

ch w

ere

appl

icab

le to

its

oper

atio

ns.

Th

ese

new

and

revi

sed

stan

dard

s w

ere

as fo

llow

s:

(i

) A

ASB

201

5-3

Am

endm

ents

to A

ustr

alia

n A

ccou

ntin

g St

anda

rds

aris

ing

from

the

with

draw

al o

f AA

SB 1

031

Mat

eria

lity

(i

i) A

ASB

201

5-7

Am

endm

ents

to A

ustr

alia

n A

ccou

ntin

g St

anda

rds

- Fa

ir Va

lue

Dis

clos

ures

of

Not

-for

-Pr

ofi t

Pub

lic S

ecto

r Ent

ities

M

ost o

f the

Sta

ndar

ds a

dopt

ed h

ad a

min

imal

eff

ect o

n th

e ac

coun

ting

and

repo

rtin

g pr

actic

es o

f the

Tow

n as

they

did

not

hav

e a

sign

ifi ca

nt im

pact

on

the

acco

untin

g or

repo

rtin

g pr

actic

es o

r wer

e ei

ther

not

app

licab

le, l

arge

ly e

dito

rial i

n na

ture

, w

ere

revi

sion

s to

hel

p en

sure

con

sist

ency

with

pre

sent

atio

n, re

cogn

ition

and

mea

sure

men

t crit

eria

of I

FRSs

or

rela

ted

to to

pics

not

rele

vant

to o

pera

tions

.


(z)

New

Acc

ount

ing

Stan

dard

s an

d In

terp

reta

tions

for A

pplic

atio

n in

Fut

ure

Perio

ds

Th

e A

ustr

alia

n A

ccou

ntin

g St

anda

rds

Boar

d ha

s is

sued

a n

umbe

r of n

ew a

nd a

men

ded

Acc

ount

ing

Stan

dard

s an

d In

terp

reta

tions

that

hav

e m

anda

tory

app

licat

ion

date

s fo

r fut

ure

repo

rtin

g pe

riods

, so

me

of w

hich

are

rele

vant

to th

e To

wn.

M

anag

emen

t’s a

sses

smen

t of t

he n

ew a

nd a

men

ded

pron

ounc

emen

ts th

at a

re re

leva

nt to

the

Tow

n, a

pplic

able

to fu

ture

repo

rtin

g pe

riods

and

whi

ch h

ave

not y

et b

een

adop

ted

are

set o

ut a

s fo

llow

s:

Title

Issu

edA

pplic

able

Impa

ct

(i)

AA

SB 9

Fin

anci

al In

stru

men

ts

(inc

orpo

ratin

g A

ASB

20

14-7

and

A

ASB

20

14·8

)

Dec 14

Jan

18

Nil

-The

obj

ectiv

e of

this

Sta

ndar

d is

to im

prov

e an

d si

mpl

ify

the

appr

oach

for c

lass

ifi ca

tion

and

mea

sure

men

t of fi

nan

cial

ass

ets

com

pare

d w

ith th

e re

quire

men

ts o

f AA

SB 1

39. G

iven

the

natu

re o

f the

fi na

ncia

l ass

ets

of th

e To

wn,

it is

not

ant

icip

ated

the

Stan

dard

w

ill h

ave

any

mat

eria

l eff

ect.

(ii)

AA

SB 1

5 R

even

ue fr

om C

ontr

acts

Cu

stom

ers

Dec 14

Jan

17Th

is S

tand

ard

esta

blis

hes

prin

cipl

es fo

r ent

ities

to a

pply

to re

port

use

ful i

nfor

mat

ion

to u

sers

of fi

nan

cial

sta

tem

ents

abo

ut th

e na

ture

, am

ount

, tim

ing

and

unce

rtai

nty

of re

venu

e an

d ca

sh fl

ows

aris

ing

from

a c

ontr

act w

ith a

cus

tom

er. T

he e

ffec

t of t

his

Stan

dard

will

de

pend

upo

n th

e na

ture

of f

utur

e tr

ansa

ctio

ns th

e To

wn

has

with

thos

e th

ird p

artie

s it

has

deal

ings

with

. lt m

ay o

r may

not

be

sign

ifi ca

nt.

(iii)

AA

SB 1

6 Le

ases

Feb

16Ja

n19

Und

er A

ASB

16

ther

e is

no

long

er a

dis

tinct

ion

betw

een

fi na

nce

and

oper

atin

g le

ases

. Les

sees

will

now

brin

g to

acc

ount

a ri

ght-

to-u

se a

sset

and

leas

e lia

bilit

y on

to th

eir s

tate

men

t of fi

nan

cial

pos

ition

for a

ll le

ases

. Eff

ectiv

ely

this

mea

ns th

e va

st m

ajor

ity o

f op

erat

ing

leas

es a

s de

fi ne

d by

the

curr

ent A

ASB

117

Lea

ses

whi

ch c

urre

ntly

do

not i

mpa

ct th

e st

atem

ent o

f fi n

anci

al p

ositi

on w

ill b

e re

quire

d to

be

capi

talis

ed o

n th

e st

atem

ent o

f fi n

anci

al p

ositi

on o

nce

AA

SB 1

6 is

ado

pted

.

Curr

ently

, ope

ratin

g le

ase

paym

ents

are

exp

ense

d as

incu

rred

. Thi

s w

ill c

ease

and

will

be

repl

aced

by

both

dep

reci

atio

n an

d in

tere

st

char

ges.

Bas

ed o

n th

e cu

rren

t num

ber o

f ope

ratin

g le

ases

hel

d by

the

Tow

n, th

e im

pact

is n

ot e

xpec

ted

to b

e si

gnifi

cant

.

(iv)

AA

SB 2

014·

3 A

men

dmen

ts to

A

ustr

alia

n A

ccou

ntin

g St

anda

rds

· Acc

ount

ing

for A

cqui

sitio

ns o

f In

tere

sts

in J

oint

Ope

ratio

ns [A

ASB

1

& A

ASB

11

]

Dec 14

Jan

16Th

is S

tand

ard

amen

ds A

ASB

11:

Joi

nt A

rran

gem

ents

to re

quire

the

acqu

irer o

f an

inte

rest

(bot

h in

itial

and

add

ition

al) i

n a

join

t op

erat

ion

in w

hich

the

activ

ity c

onst

itute

s a

busi

ness

, as

defi

ned

in A

ASB

3: B

usin

ess

Com

bina

tions

, to

appl

y al

l of t

he p

rinci

ples

on

busi

ness

com

bina

tions

acc

ount

ing

in A

ASB

3 a

nd o

ther

Aus

tral

ian

Acc

ount

ing

Stan

dard

s ex

cept

for t

hose

prin

cipl

es th

at c

onfl

ict

with

the

guid

ance

in A

ASB

11;

and

dis

clos

e th

e in

form

atio

n re

quire

d by

AA

SB 3

and

oth

er A

ustr

alia

n A

ccou

ntin

g St

anda

rds

for

busi

ness

com

bina

tions

. Sin

ce a

dopt

i on

of th

i s S

tand

ard

wo

uld

impa

ct o

nly

acqu

isiti

ons

of i

nter

ests

in jo

int o

pera

tions

on

or a

fter

1

Janu

ary

2016

, man

agem

ent b

elie

ves

it is

impr

actic

able

at t

his

stag

e to

pro

vide

a re

ason

able

est

imat

e of

suc

h im

pact

on

the

Tow

n’s

fi na

ncia

l sta

tem

ents

.

(v)

AA

SB 2

014

·4 A

men

dmen

ts to

A

ustr

alia

n A

ccou

ntin

g St

anda

rds

- Cl

arifi

catio

n of

Acc

epta

ble

Met

hods

of D

epre

ciat

ion

and

Am

ortis

atio

n [A

ASB

116

& 1

38)

Dec 14

Jan

16Th

is S

tand

ard

amen

ds A

ASB

116

and

AA

SB 1

38 to

est

ablis

h th

e pr

inci

ple

for t

he b

asis

of d

epre

ciat

ion

and

amor

tisat

ion

as b

eing

the

expe

cted

pat

tern

of c

onsu

mpt

ion

of th

e fu

ture

eco

nom

ic b

enefi

ts

of a

n as

set.

It al

so c

larifi

es

the

use

of re

venu

e-ba

sed

met

hods

to

calc

ulat

e th

e de

prec

iatio

n of

an

asse

t is

not a

ppro

pria

te n

or is

reve

nue

gene

rally

an

appr

opria

te b

asis

for m

easu

ri g

the

cons

umpt

ion

of th

e ec

onom

ic b

enefi

ts

embo

died

in a

n in

tang

ible

ass

et. G

iven

the

Tow

n cu

rent

ly u

ses

the

expe

cted

pat

tern

of c

onsu

mpt

ion

of th

e fu

ture

eco

nom

ic b

enefi

ts

of a

n as

set a

s th

e ba

sis

of c

alcu

latio

n of

dep

reci

atio

n, it

is n

ot e

xpec

ted

to h

ave

a si

gnifi

cant

impa

ct.

(vi)

AA

SB 2

014·

5 A

men

dmen

ts to

A

ustr

alia

n A

ccou

ntin

~ S

tand

ards

Dec 14

Jan

17Co

nseq

uent

ial c

hang

es to

var

ious

Sta

ndar

ds a

risin

g fr

om th

e is

suan

ce o

f AA

SB 1

5. It

will

requ

ire c

hang

es to

refl

ect t

he im

pact

of

AA

SB 1

5.

(vii)

AA

SB 2

015

·2 A

men

dmen

ts

to A

ustr

alia

n A

ccou

ntin

g St

anda

rds

-Dis

clos

ure

Initi

a ti

ve:

Am

endm

ents

to A

ASB

10

1 [A

ASB

7,

10

1, 1

34 &

104

9]

Jan

15Ja

n16

This

Sta

ndar

d am

ends

AA

SB 1

01 to

pro

vide

cla

rifi c

atio

n re

gard

ing

the

disc

losu

re re

quire

men

ts in

AA

SB 1

01. S

peci

fi ca

lly,

the

Stan

dard

pro

pose

s na

rrow

-foc

us a

men

dmen

ts to

add

ress

som

e of

the

conc

erns

exp

ress

ed a

bout

exi

stin

g pr

esen

tatio

n an

d di

sclo

sure

requ

irem

ents

and

to e

nsur

e en

titie

s ar

e ab

le to

use

judg

emen

t whe

n ap

plyi

ng a

Sta

ndar

d in

det

erm

inin

g w

hat

info

rmat

ion

to d

iscl

ose

in th

eir fi

nan

cial

sta

tem

ents

. Thi

s St

anda

rd a

lso

mak

es e

dito

rial a

nd c

onse

quen

tial a

men

dmen

ts a

s a

resu

lt of

am

endm

ents

to th

e St

anda

rds

liste

d in

the

title

col

umn.

It is

not

ant

icip

ated

it w

ill h

ave

any

sign

ifi ca

nt im

pact

on

disc

losu

res

as th

ey

curr

ently

exi

st a

nd a

ny c

hang

es w

ill re

late

to p

rese

ntat

ion.

(viii)

AA

SB 2

015

·6 A

men

dmen

ts to

A

ustr

alia

n A

ccou

ntin

g St

anda

rds

· Ex

tend

ing

Rela

ted

Part

y D

iscl

osur

es

to N

ot-

for -

Profi

t P

ublic

Sec

tor

Entit

ies

[AA

SB 1

0, 1

24

& 1

049)

Mar

15Ju

l16

The

obje

ctiv

e of

this

Sta

ndar

d is

to e

xten

d th

e sc

ope

of A

ASB

124

Rel

ated

Par

ty D

iscl

osur

es to

incl

ude

not-

for-

profi

t s

ecto

r ent

ities

. Th

e St

anda

rd is

exp

ecte

d to

hav

e a

sign

ifi ca

nt d

iscl

osur

e im

pact

on

the

fi na

ncia

l rep

ort o

f the

Tow

n as

bot

h El

ecte

d M

embe

rs a

nd

Seni

or M

anag

emen

t will

be

deem

ed to

be

Key

Man

agem

ent P

erso

nnel

and

resu

ltant

dis

clos

ures

will

be

nece

ssar

y.

Not

es:

(1) A

pplic

able

to re

port

ing

perio

ds c

omm

enci

ng o

n or

aft

er th

e gi

ven

date

.


2. C

ompo

nent

func

tion

s/ac

tivi

ties

In o

rder

to d

isch

arge

its

resp

onsi

bilit

ies

to th

e co

mm

unity

, the

Tow

n ha

s de

velo

ped

a se

t of

oper

atio

nal a

nd fi

nanc

ial o

bjec

tives

. Th

ese

obje

ctiv

es h

ave

been

est

ablis

hed

both

on

an o

vera

ll ba

sis

refl

ecte

d by

the

Tow

n’s

Com

mun

ity S

trat

egic

Pla

n an

d fo

r eac

h of

its

broa

d ac

tiviti

es/

prog

ram

s. T

hese

obj

ectiv

es p

rovi

de a

fram

ewor

k fo

r the

futu

re d

irect

ion

of th

e To

wn

of

Cam

brid

ge a

nd in

clud

e a

focu

s on

the

follo

win

g pr

iorit

y ar

eas:

Our

Com

mun

ity

Life

• A

sen

se o

f com

mun

ity, p

ride

and

belo

ngin

g.

• Q

ualit

y lo

cal p

arks

and

ope

n sp

aces

for t

he c

omm

unity

to e

njoy

.

• A

n ac

tive,

saf

e an

d in

clus

ive

com

mun

ity.

Our

Pla

nned

Nei

ghbo

urho

ods

• N

eigh

bour

hood

s th

at a

re w

ell p

lann

ed, a

ttra

ctiv

e, re

spec

tful

of t

he c

hara

cter

and

resp

onsi

ve to

fu

ture

nee

ds.

• Su

cces

sful

com

mer

cial

, ret

ail a

nd s

ocia

l hub

s.

• Ef

fi ci

ent t

rans

port

net

wor

ks.

Our

Nat

ural

Env

ironm

ent

• Co

unci

l is

envi

ronm

enta

lly re

spon

sibl

e an

d le

ads

by e

xam

ple.

• A

com

mun

ity th

at e

mbr

aces

env

ironm

enta

lly re

spon

sibl

e pr

actic

es.

Our

Cou

ncil

• Tr

ansp

aren

t, ac

coun

tabl

e go

vern

ance

.

• Th

e To

wn

is a

pro

activ

e lo

cal g

over

nmen

t tha

t get

s th

ings

don

e.

• A

str

ong

perf

orm

ing

loca

l gov

ernm

ent.

The

Stat

emen

t of C

ompr

ehen

sive

Inco

me

is p

rese

nted

in a

pro

gram

form

at u

sing

the

follo

win

g cl

assi

fi ca

tions

:

Gene

ral P

urpo

se F

undi

ng

Gen

eral

rate

reve

nue,

inte

rest

for l

ate

paym

ent,

ex g

ratia

rate

s, g

ener

al p

urpo

se g

rant

s, u

ntie

d ro

ad g

rant

s, in

tere

st o

n de

ferr

ed ra

tes,

inve

stm

ent r

etur

ns.

Gove

rnan

ce

Mem

bers

of C

ounc

il, c

ivic

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inist

ratio

n Tr

ansp

orta

ble

Offi c

e 1

7,93

6 1

8,15

2 Lo

an 6

- M

inia

ture

Gol

f Cou

rse

Loan

1,1

25,0

00

-

1,7

66,8

17

590,

485

Non

curr

ent

30 J

une

2016 $

30 J

une

2015 $

Loan

1 -

Wem

bley

Gol

f Cou

rse

Irrig

atio

n Lo

an 1

,317

,339

1

,481

,051

Lo

an 3

- W

embl

ey G

olf C

ours

e Dr

iving

Ran

ge L

oan

9,5

56,5

77

10,

016,

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Loan

4 -

Acqu

isitio

n of

39

Sout

hpor

t Stre

et 1

,107

,101

1

,107

,101

HP

Loa

n - A

dmin

istra

tion

Tran

spor

tabl

e Of

fi ce

1,6

84

19,

620

11,

982,

701

12,6

24,5

18

All

repa

ymen

ts w

ith re

spec

t to

the

loan

for t

he W

embl

ey G

olf C

ours

e ar

e so

urce

d fr

om g

olf

cour

se re

venu

e.

New

Loa

ns

Wem

bley

Gol

f Cou

rse

- M

inia

ture

Gol

f Pro

ject

is fu

lly fu

nded

by

a $3

.5 m

illio

n lo

an fa

cilit

y es

tabl

ishe

d on

27

June

201

6, a

t a ra

te o

f 3.2

% to

be

repa

id in

Jun

e 20

17.

As

at 3

0 Ju

ne 2

016,

w

orks

are

in p

rogr

ess

and

$1.1

25 m

illio

n of

loan

fund

s ha

ve b

een

draw

n do

wn.


Loan

Rep

aym

ents

Parti

cula

rs

Prin

cipa

l1

July

201

5 $Ne

w L

oans $

Inte

rest

Ca

pita

lised

2015

/201

6In

tere

st R

epay

men

ts20

15/2

016

Prin

cipa

l Rep

aym

ents

2015

/201

6Pr

inci

pal

30 J

une

2016

Actu

al $Ac

tual $

Budg

et $Ac

tual $

Budg

et $Ac

tual $

Budg

et $

Gove

rnan

ce

HP L

oan

Adm

inist

ratio

n Tr

ansp

orta

ble

Offi c

e 3

7,77

2 -

- 2,

179

2,50

0 18

,152

18

,000

19

,620

19

,725

37,7

72

- -

2,17

9 2,

500

18,1

52

18,0

00

19,6

20

19,7

25

Recr

eatio

n an

d Cu

lture

Loan

No.

1

Wem

bley

Gol

f Cou

rse

Irrig

atio

n Sy

stem

1,

639,

251

- -

64,7

33

64,0

00

158,

200

158,

000

1,48

1,05

1 1,

481,

051

Loan

No.

3

Wem

bley

Gol

f Cou

rse

Drivi

ng R

ange

, Pro

shop

10,4

30,8

79

- -

370,

832

372,

000

414,

133

412,

500

10,0

16,7

46

10,0

52,1

94

Loan

No.

6

Wem

bley

Gol

f Cou

rse

Min

iatu

re G

olf

- 1,

125,

000

22

- 12

,000

-

- 1,

125,

000

2,00

0,00

0

12,0

70,1

30

1,12

5,00

0 22

43

5,56

5 44

8,00

0 57

2,33

3 57

0,50

0 12

,622

,797

13

,533

,245

Othe

r Pro

perty

& S

ervi

ces

Loan

No.

4

Acqu

isitio

n of

39

Sout

hpor

t Stre

et1,

107,

101

- -

47,2

64

53,5

00

- -

1,10

7,10

1 1,

107,

101

1,10

7,10

1 -

- 47

,264

53

,500

-

- 1,

107,

101

1,10

7,10

1

13,2

15,0

03

1,1

25,0

00

22

485,

008

504

,000

5

90,4

85

588

,500

13

,749

,518

14

,660

,071


The

inte

rest

sho

wn

in th

e sc

hedu

le fo

r bot

h th

e W

embl

ey G

olf C

ours

e Irr

igat

ion

Syst

em L

oan

and

Wem

bley

Gol

f Cou

rse

Driv

ing

Rang

e, P

ro-s

hop

and

Infr

astr

uctu

re D

evel

opm

ent h

as b

een

expe

nsed

in th

e ac

coun

ts a

nd re

pres

ents

inte

rest

cha

rged

and

acc

rued

for t

he y

ear e

nded

30

Ju

ne 2

016.

Tota

l loa

n fa

cilit

y fo

r the

Wem

bley

Gol

f Cou

rse

Driv

ing

Rang

e, P

ro-s

hop

and

Infr

astr

uctu

re

Dev

elop

men

t is

for $

14.7

mill

ion

($10

.8 m

illio

n fr

om W

ATC,

$3.

9 m

illio

n EL

A).

Inte

rest

Rat

e Ri

sk

Loan

No.

1 -

Irrig

atio

n Sy

stem

– W

embl

ey G

olf C

ours

e

The

Tow

n’s

expo

sure

to in

tere

st ra

te ri

sk is

min

imis

ed a

s th

e lo

an is

a fi

ve y

ear t

erm

loan

with

a

fi xe

d in

tere

st ra

te d

urin

g th

at p

erio

d of

3.4

3% p

er a

nnum

. Th

e in

tere

st p

ayab

le a

s a

resu

lt of

bo

rrow

ings

is a

s fo

llow

s:

30 J

une

2016 $

30 J

une

2015 $

Fixe

d In

tere

st ra

te m

atur

ing

- w

ithin

one

yea

r 6

4,75

6 6

3,55

3 -

with

in o

ne to

fi ve

yea

rs 9

1,87

2 1

56,6

28

156,

628

220,

181

Loan

No.

3 -

Driv

ing

Rang

e, P

ro-s

hop

and

Infr

astr

uctu

re D

evel

opm

ent -

Wem

bley

Gol

f Cou

rse

The

Tow

n’s

expo

sure

to in

tere

st ra

te ri

sk is

min

imis

ed a

s th

e lo

an is

a tw

o ye

ar te

rm lo

an w

ith

a fi

xed

inte

rest

rate

dur

ing

that

per

iod

of 2

.93

% p

er a

nnum

. Th

e in

tere

st p

ayab

le a

s a

resu

lt of

bo

rrow

ings

as

follo

ws:

30 J

une

2016 $

30 J

une

2015 $

Fixe

d In

tere

st ra

te m

atur

ing

- w

ithin

one

yea

r 2

70,1

80

372

,070

-

with

in o

ne to

fi ve

yea

rs 2

60,0

51

-

530,

231

372,

070

HP

Loan

- A

dmin

istr

atio

n Tr

ansp

orta

ble

Offi

ce

The

Tow

n’s

expo

sure

to in

tere

st ra

te ri

sk is

min

imis

ed a

s th

e hi

re p

urch

ase

agre

emen

t is

for a

fi ve

ye

ar te

rm w

ith a

fi xe

d in

tere

st ra

te d

urin

g th

at p

erio

d of

6.9

9% p

er a

nnum

. Th

e in

tere

st p

ayab

le

as a

resu

lt of

the

agre

emen

t is

as fo

llow

s:

30 J

une

2016 $

30 J

une

2015 $

Fixe

d In

tere

st ra

te m

atur

ing

- w

ithin

one

yea

r 8

50

2,1

79

- w

ithin

one

to fi

ve y

ears

30

880

880

3,05

9

Loan

No.

4 -

Acq

uisi

tion

of S

outh

port

Str

eet

The

Tow

n’s

expo

sure

to in

tere

st ra

te ri

sk is

min

imis

ed a

s th

e lo

an is

for a

n ei

ght y

ear t

erm

with

a

fi xe

d in

tere

st ra

te d

urin

g th

at p

erio

d of

3.8

5% p

er a

nnum

. Th

e in

tere

st p

ayab

le a

s a

resu

lt of

the

agre

emen

t is

as fo

llow

s:

30 J

une

2016 $

30 J

une

2015 $

Fixe

d In

tere

st ra

te m

atur

ing

- w

ithin

one

yea

r 4

7,07

4 4

7,27

3 -

with

in o

ne to

fi ve

yea

rs 1

89,5

28

189

,093

236,

602

236,

366


13.

Prop

erty

, pla

nt &

equ

ipm

ent,

in

fras

truc

ture

ass

ets

(a)

Carr

ying

Am

ount

s of

Ass

ets

by C

lass

ifi ca

tion

Curr

ent

30 J

une

2016 $

30 J

une

2015 $

Land

- In

depe

nden

t Val

uatio

n 20

14 6

0,44

5,20

8 6

3,85

6,05

2

60,

445,

208

63,

856,

052

Build

ings

-

Inde

pend

ent V

alua

tion

2014

53,

031,

000

53,

031,

000

- Ad

ditio

ns a

fter v

alua

tion

- Cos

t 3

2,72

4,22

5 2

,363

,657

Less

: Ac

cum

ulat

ed D

epre

ciatio

n (4

,841

,214

) (2

,628

,176

)

80,

914,

011

52,

766,

481

Offi c

e Fu

rnitu

re a

nd E

quip

men

t -

Man

agem

ent V

alua

tion

2014

1,7

82,6

77

1,7

82,6

77

- Ad

ditio

ns a

fter v

alua

tion

- Cos

t 2

,220

,596

1

,299

,494

Less

: Ac

cum

ulat

ed D

epre

ciatio

n (1

,101

,960

) (5

74,9

38)

2,9

01,3

13

2,5

07,2

33

Exte

rnal

Pla

nt a

nd E

quip

men

t -

Man

agem

ent V

alua

tion

2016

2,4

02,5

39

- M

anag

emen

t Val

uatio

n 20

13 -

1,9

08,9

37

- Ad

ditio

ns a

fter v

alua

tion

- Cos

t -

1,4

73,1

33

Less

: Ac

cum

ulat

ed D

epre

ciatio

n -

(648

,426

)

2,4

02,5

39

2,7

33,6

44

Park

s an

d Re

serv

es -

Man

agem

ent V

alua

tion

2015

72,

269,

075

72,

269,

075

- Co

st 1

,323

,708

-

Less

: Ac

cum

ulat

ed D

epre

ciatio

n (1

8,61

2,98

0) (1

7,44

5,76

2)

54,

979,

803

54,

823,

313

Road

s an

d La

nes

- M

anag

emen

t Val

uatio

n 20

15 1

27,9

82,1

80

127

,982

,180

Curr

ent

30 J

une

2016 $

30 J

une

2015 $

- Co

st 1

,551

,838

-

Less

: Ac

cum

ulat

ed D

epre

ciatio

n (7

7,38

6,00

3) (7

6,60

0,79

6)

52,

148,

015

51,

381,

384

Drai

nage

-

Man

agem

ent V

alua

tion

2015

28,

785,

509

28,

785,

509

- Co

st 5

43,0

91

-

Less

: Ac

cum

ulat

ed D

epre

ciatio

n (1

4,01

0,26

7) (1

3,70

1,12

4)

15,

318,

333

15,

084,

385

Foot

path

s -

Man

agem

ent V

alua

tion

2015

28,

708,

875

28,

708,

875

- Co

st 1

33,7

75

-

Less

: Ac

cum

ulat

ed D

epre

ciatio

n (8

,858

,402

) (8

,700

,184

)

19,

984,

248

20,

008,

691

Othe

r Inf

rast

ruct

ure

- M

anag

emen

t Val

uatio

n 20

15 1

,216

,125

1

,216

,125

-

Cost

42,

135

-

Less

: Ac

cum

ulat

ed D

epre

ciatio

n (9

04,1

96)

(897

,005

)

354

,064

3

19,1

20

Wor

k in

Pro

gres

sBu

ildin

gs 1

2,47

3,02

1 2

0,48

5,01

0 Pa

rks

and

Rese

rves

1,7

07,1

34

750

,939

Ro

ads

and

Lane

s 2

20,1

54

138

,384

Dr

aina

ge 2

22,7

99

183

,436

Fo

otpa

ths

9,9

08

3,0

55

Othe

r Inf

rast

ruct

ure

39,

254

102

,196

14,

672,

270

21,

663,

020

Tota

l Pro

perty

, Pla

nt a

nd E

quip

men

t and

Infra

stru

ctur

e 3

04,1

19,8

04

285

,143

,323


(b)

Mov

emen

t in

Carr

ying

Am

ount

s

M

ovem

ents

in th

e ca

rryi

ng a

mou

nts

for e

ach

clas

s of

pro

pert

y, p

lant

, equ

ipm

ent a

nd in

fras

truc

ture

ass

ets

betw

een

the

begi

nnin

g an

d en

d of

the

curr

ent fi

nan

cial

yea

r.

Land

(Lev

el 3

)

Non-

Spec

ialis

ed

Build

ings

(Lev

el3)

Spec

ialis

ed

Build

ings

(Lev

el3)

Build

ings

(L

evel

3)

Plan

t &Eq

uipm

ent

(Lev

el 3

)

Furn

iture

&Eq

uipm

ent

(Lev

el 3

)

Park

s &

Rese

rves

(Lev

el 3

)

Road

s &

Lane

s(L

evel

3)

Drai

nage

(Lev

el 3

)Fo

otpa

ths

(Lev

el 3

)

Othe

r In

frast

ruct

ure

(Lev

el 3

)W

ork

in

Prog

ress

Tota

l

Bala

nce

at B

egin

ning

at y

ear

63,8

56,0

52

24,2

14,3

04

28,5

52,1

78

52,7

66,4

81

2,73

3,64

4 2,

507,

233

54,8

23,3

12

51,3

81,3

83

15,0

84,3

86

20,0

08,6

90

319,

120

21,6

63,0

20

285,

143,

323

Addi

tions

- 16

6,04

7 11

,595

,642

11

,761

,689

40

2,38

8 82

5,01

9 1,

227,

649

3,46

6,01

3 49

0,91

6 60

0,59

0 58

,760

12

,151

,629

30

,984

,653

Tran

sfer

s fro

m W

IP-

- 18

,598

,880

18

,598

,880

-

102,

195

258,

728

128,

488

52,1

76

1,91

2 -

(19,

142,

378)

-

Disp

osal

s-

- -

- (1

68,7

82)

(1,6

21)

- (2

67,4

82)

- -

- -

(437

,885

)

Depr

ecia

tion

Expe

nse

- (8

53,8

73)

(1,3

59,1

65)

(2,2

13,0

37)

(433

,798

)(5

31,5

13)

(1,3

25,9

81)

(2,3

43,9

71)

(309

,145

)(6

15,2

26)

(23,

400)

- (7

,796

,072

)

Asse

t Rev

alua

tion

Rese

rve

Adju

stm

ent

(3,4

10,8

44)

- -

- -

- (3

,906

)(2

16,4

17)

- (1

1,71

8)(4

16)

- (3

,643

,301

)

Asse

t Dev

alua

tion

trans

fer t

o P/

L-

- -

- (1

30,9

13)

- -

- -

- -

- (1

30,9

13)

Carry

ing

Amou

nt a

t end

of y

ear

60,4

45,2

08

23,5

26,4

78

57,3

87,5

35

80,9

14,0

13

2,40

2,53

9 2,

901,

313

54,9

79,8

02

52,1

48,0

14

15,3

18,3

33

19,9

84,2

48

354,

064

14,6

72,2

70

304,

119,

804

N

ote:

Wor

k in

Pro

gres

s A

dditi

ons

of $

12 m

illio

n in

clud

e bu

ildin

g w

orks

of $

9 m

illio

n fo

r the

Wem

bley

Gol

f Cou

rse

Hos

pita

lity,

$1.

1 m

illio

n fo

r the

Wem

bley

Gol

f Cou

rse

Min

iatu

re G

olf P

roje

ct a

nd

$1.6

mill

ion

for t

he W

embl

ey S

port

s Pa

rk P

avili

on D

evel

opm

ent.

(c)

Plan

t and

Equ

ipm

ent F

air V

alue

Th

e fa

ir va

lue

of p

rope

rty,

pla

nt a

nd e

quip

men

t is

dete

rmin

ed a

t lea

st e

very

thre

e ye

ars

in a

ccor

danc

e w

ith th

e re

gula

tory

fram

ewor

k. A

dditi

ons

sinc

e th

e da

te o

f val

uatio

n ar

e sh

own

at c

ost,

give

n th

ey w

ere

acqu

ired

at a

rm’s

leng

th a

nd a

ny a

ccum

ulat

ed d

epre

ciat

ion

refl

ects

the

usag

e of

ser

vice

pot

entia

l, it

is c

onsi

dere

d th

e re

cord

ed w

ritte

n do

wn

valu

e ap

prox

imat

es fa

ir va

lue.

At t

he e

nd

of e

ach

inte

rven

ing

perio

d th

e va

luat

ion

is re

view

ed a

nd w

here

app

ropr

iate

the

fair

valu

e is

upd

ated

to re

fl ec

t cur

rent

mar

ket c

ondi

tions

. Th

is p

roce

ss is

con

side

red

to b

e in

acc

orda

nce

with

Loc

al

Gov

ernm

ent (

Fina

ncia

l Man

agem

ent)

Reg

ulat

ion

17A

(2) w

hich

requ

ire p

rope

rty,

pla

nt a

nd e

quip

men

t to

be s

how

n at

fair

valu

e.

In

acc

orda

nce

with

Loc

al G

over

nmen

t (Fi

nanc

ial M

anag

emen

t) R

egul

atio

n 17

A (2

) pla

nt a

nd e

quip

men

t was

due

to b

e re

valu

ed a

t 30

June

201

6. S

ubse

quen

tly, t

he T

own

reva

lued

its

plan

t and

eq

uipm

ent a

sset

s us

ing

purc

hase

cos

ts a

nd c

urre

nt c

ondi

tion

(Lev

el 2

), re

sidu

al v

alue

s an

d re

mai

ning

use

ful l

ife

asse

ssm

ents

(Lev

el 3

) inp

uts.

For

thos

e si

gnifi

cant

item

s of

pla

nt, s

uppl

iers

pro

vide

d m

arke

t val

uatio

ns.


(d) F

air V

alue

Mea

sure

men

ts

Asse

t Cla

ssFa

ir Va

lue

Valu

atio

n Te

chni

que

Basi

s of

va

luat

ion

Date

of l

ast

Valu

atio

nIn

puts

use

d

Land

3M

arke

t app

roac

h us

ing

rece

nt

obse

rvab

le m

arke

t dat

a fo

r sim

ilar p

rope

rties

/inco

me

appr

oach

usin

g di

scou

nted

ca

shfl o

w m

etho

dolo

gy

Inde

pend

ent

regi

ster

ed

valu

er

Janu

ary

2014

Price

per

hec

tare

/ M

arke

t bor

row

ing

rate

Build

ing

3M

arke

t app

roac

h us

ing

rece

nt

obse

rvab

le m

arke

t dat

a fo

r sim

ilar p

rope

rties

/inco

me

appr

oach

usin

g di

scou

nted

ca

shfl o

w m

etho

dolo

gy

Inde

pend

ent

regi

ster

ed

valu

er

Janu

ary

2014

Price

per

squ

are

met

re /

Mar

ket b

orro

win

g ra

te

Furn

iture

an

d Eq

uipm

ent

3Co

st a

ppro

ach

usin

g de

prec

iate

d re

plac

emen

t cos

t

Man

agem

ent

valu

atio

nAp

ril

2014

Cons

truct

ion

cost

and

cur

rent

co

nditio

n, re

sidua

l val

ues

and

rem

aini

ng u

sefu

l life

as

sess

men

ts in

puts

Plan

t an

d Eq

uipm

ent

3Co

st a

ppro

ach

usin

g de

prec

iate

d re

plac

emen

t cos

t

Man

agem

ent

valu

atio

nJu

ne

2016

Purc

hase

cos

t and

cur

rent

co

nditio

n, re

sidua

l val

ues

and

rem

aini

ng u

sefu

l life

as

sess

men

ts in

puts

Infra

stru

ctur

e Pa

rks

and

Rese

rves

3Co

st a

ppro

ach

usin

g de

prec

iate

d re

plac

emen

t cos

t

Man

agem

ent

valu

atio

nJu

ne

2015

Cons

truct

ion

cost

and

cur

rent

co

nditio

n, re

sidua

l val

ues

and

rem

aini

ng u

sefu

l life

as

sess

men

ts in

puts

Road

s an

d La

nes

3Co

st a

ppro

ach

usin

g de

prec

iate

d re

plac

emen

t cos

t

Man

agem

ent

valu

atio

nJu

ne

2015

Cons

truct

ion

cost

and

cur

rent

co

nditio

n, re

sidua

l val

ues

and

rem

aini

ng u

sefu

l life

as

sess

men

ts in

puts

Drai

nage

3Co

st a

ppro

ach

usin

g de

prec

iate

d re

plac

emen

t cos

t

Man

agem

ent

valu

atio

nJu

ne

2015

Cons

truct

ion

cost

and

cur

rent

co

nditio

n, re

sidua

l val

ues

and

rem

aini

ng u

sefu

l life

as

sess

men

ts in

puts

Foot

path

s3

Cost

app

roac

h us

ing

depr

ecia

ted

repl

acem

ent c

ost

Man

agem

ent

valu

atio

nJu

ne

2015

Cons

truct

ion

cost

and

cur

rent

co

nditio

n, re

sidua

l val

ues

and

rem

aini

ng u

sefu

l life

as

sess

men

ts in

puts

Bus

Shel

ters

3Co

st a

ppro

ach

usin

g de

prec

iate

d re

plac

emen

t cos

t

Man

agem

ent

valu

atio

nJu

ne

2015

Cons

truct

ion

cost

and

cur

rent

co

nditio

n, re

sidua

l val

ues

and

rem

aini

ng u

sefu

l life

as

sess

men

ts in

puts

(e)

Bold

Par

k Tr

ansf

er o

f Titl

e –

Land

Pro

ceed

s

In

May

199

8 th

e St

ate

Gov

ernm

ent p

aid

the

Tow

n th

e su

m o

f $6.

5 m

illio

n in

adv

ance

, with

re

spec

t to

the

sale

of l

and

at F

ortv

iew

Roa

d, W

hitn

ey C

resc

ent a

nd R

ochd

ale

Road

, Mt C

lare

mon

t ar

eas

know

n as

“F” a

nd “G

” and

as

com

pens

atio

n fo

r the

cre

atio

n an

d en

dow

men

t of B

old

Park

. In

the

even

t tha

t the

sal

e pr

ocee

ds o

f the

land

exc

eed

$11.

5 m

illio

n, th

e To

wn

is to

rece

ive

a fu

rthe

r 50

per c

ent o

f tha

t por

tion

exce

edin

g $1

1.5

mill

ion.

Are

a “F

” was

on-

sold

by

the

Stat

e G

over

nmen

t to

Land

corp

, a G

over

nmen

t age

ncy,

for $

3.7

mill

ion.

The

sta

tus

of a

rea

“G” w

as

in d

ispu

te w

ith th

e St

ate

Gov

ernm

ent c

once

rnin

g th

e fi

nanc

ial a

rran

gem

ents

with

resp

ect t

o th

e tr

ansa

ctio

n. T

he S

tate

Gov

ernm

ent c

onfi

rmed

that

the

arra

ngem

ents

acc

ordi

ng to

the

Tow

n’s

unde

rsta

ndin

g ar

e ag

reed

. A D

eed

was

sig

ned

in S

epte

mbe

r 201

1 fo

rmal

isin

g th

e ar

rang

emen

ts. L

andc

orp

are

resp

onsi

ble

for d

evel

opin

g th

e la

nd, k

now

n as

St J

ohns

Woo

d Es

tate

, Mt C

lare

mon

t. C

onst

ruct

ion

and

subd

ivis

ion

wor

ks h

ave

been

und

erta

ken

crea

ting

49

resi

dent

ial l

ots.

A s

ales

pro

gram

com

men

ced

and

is o

ngoi

ng w

ith s

ettle

men

t of t

he p

roje

ct

expe

cted

in 2

016/

2017

.

(f)

Form

er N

urse

ry S

ite -

Sal

vado

Roa

d Jo

limon

t

Th

e To

wn

ente

red

into

a s

ale

agre

emen

t in

Apr

il 20

13 w

ith L

andc

orp

to fa

cilit

ate

the

deve

lopm

ent o

f the

form

er N

urse

ry S

ite lo

cate

d in

Sal

vado

Roa

d, J

olim

ont.

Und

er th

is c

ontr

act

the

Tow

n w

ill re

ceiv

e 60

% o

f the

net

sal

e pr

ocee

ds. A

n ad

vanc

e pa

ymen

t of $

5 m

illio

n w

as

rece

ived

and

acc

ount

ed fo

r dur

ing

the

2012

/201

3 fi

nanc

ial y

ear.

An

Out

line

Dev

elop

men

t Pla

n w

as p

repa

red

by L

andc

orp

for t

he s

ite w

hich

was

pub

licly

adv

ertis

ed a

nd a

dopt

ed b

y th

e To

wn

in D

ecem

ber 2

014.

The

pla

n w

as a

ppro

ved

by th

e W

este

rn A

ustr

alia

n Pl

anni

ng C

omm

issi

on in

Ju

ne 2

015.

In S

epte

mbe

r 201

5 th

e To

wn

deci

ded

to p

roce

ed w

ith d

evel

opm

ent i

n co

njun

ctio

n w

ith L

andc

orp.

The

est

ate

nam

e is

Par

ksid

e W

alk,

Jol

imon

t. S

ubdi

visi

on a

ppro

val h

as b

een

prov

ided

for t

he c

reat

ion

of 2

4 si

ngle

resi

dent

ial l

ots

and

seve

n ap

artm

ent s

ites

that

will

cat

er

for u

p to

350

new

dw

ellin

gs a

cros

s th

e w

hole

site

. It i

s ex

pect

ed th

at s

ubdi

visi

on w

orks

will

co

mm

ence

in 2

016/

2017

in c

onju

nctio

n w

ith a

sal

es p

rogr

am.

(g)

Perr

y La

kes

Rede

velo

pmen

t Pro

ject

Th

e St

ate

Gov

ernm

ent a

ssum

ed c

ontr

ol o

f the

Per

ry L

akes

Red

evel

opm

ent p

roje

ct in

200

5

afte

r pas

sing

the

Perr

y La

kes

Rede

velo

pmen

t Act

200

5 (t

he A

ct).

At t

he c

ompl

etio

n of

the

proj

ect,

the

Tow

n of

Cam

brid

ge w

as o

wed

$50

mill

ion

whi

ch a

s pe

r the

Act

can

be

paid

in

cash

, lan

d or

a c

ombi

natio

n of

cas

h an

d la

nd.

A

tran

sfer

of t

he th

ree

apar

tmen

t site

s, v

alue

d at

$27

.4 m

illio

n (e

x G

ST) o

ccur

red

on 2

1 Ju

ly

2015

whi

ch h

as b

een

refl

ecte

d in

the

2015

/201

6 fi

nanc

ial a

ccou

nts

as L

and

Hel

d fo

r Res

ale.

A

s at

30

June

201

6, tw

o ap

artm

ent s

ites

Lot 2

32 &

Lot

233

are

und

er c

ontr

act o

f sal

e fo

r 19

.6 m

illio

n (e

x G

ST) w

ith th

e se

ttle

men

t due

in J

anua

ry 2

017.

The

rem

aini

ng b

alan

ce o

f $2

2.6

mill

ion

cash

is e

xpec

ted

in la

te 2

016.

(h)

Oth

er S

igni

fi ca

nt D

ispo

sals

Th

ere

wer

e no

sig

nifi

cant

dis

posa

ls o

f non

-cur

rent

ass

ets

durin

g th

e 20

15/2

016

fi na

ncia

l yea

r.


14.

Rese

rves

and

Cam

brid

ge

endo

wm

ent l

ands

acc

ount

As

at 3

0 J

une

201

6 th

e To

wn

of C

ambr

idge

mai

ntai

ned

rese

rves

for v

ario

us p

urpo

ses

rela

ting

to

the

prov

isio

n of

faci

litie

s an

d am

eniti

es th

roug

hout

the

Tow

n.

(a)

Are

a Im

prov

emen

t Res

erve

Th

is re

serv

e w

as e

stab

lishe

d to

pro

vide

fund

s fo

r the

acq

uisi

tion

and

deve

lopm

ent o

f ass

ets,

ex

clud

ing

com

mun

ity re

crea

tion

faci

litie

s, o

r the

pro

visi

on o

f ser

vice

s th

at a

re in

the

view

of

the

Tow

n be

nefi

cial

and

to p

rovi

de im

prov

emen

ts to

are

as w

ithin

the

dist

rict o

f the

Tow

n.

(b)

Com

mun

ity F

acili

ties

Res

erve

Th

is re

serv

e w

as e

stab

lishe

d to

pro

vide

fund

s fo

r the

acq

uisi

tion

and

deve

lopm

ent o

f co

mm

unity

faci

litie

s in

the

Tow

n.

(c)

Ass

et M

anag

emen

t Res

erve

Th

is re

serv

e w

as e

stab

lishe

d to

pro

vide

a s

ourc

e of

fund

s fo

r fut

ure

asse

t rep

lace

men

t in

clud

ing

plan

t and

equ

ipm

ent,

havi

ng re

gard

to th

e de

prec

iatin

g na

ture

of n

on-c

urre

nt

asse

ts.

The

amou

nt in

this

rese

rve

is to

be

accu

mul

ated

ove

r the

use

ful l

ife

of th

e as

sets

and

ex

pend

ed o

n re

plac

emen

t as

cons

ider

ed a

ppro

pria

te.

(d)

Was

te M

anag

emen

t Res

erve

Th

is re

serv

e w

as e

stab

lishe

d to

pro

vide

fund

s fo

r the

pro

visi

on o

f was

te m

anag

emen

t se

rvic

es in

clud

ing

recy

clin

g. T

hese

ser

vice

s m

ay in

clud

e ac

quis

ition

of a

sset

s su

ch a

s la

nd,

build

ings

, pla

nt a

nd e

quip

men

t, m

obile

rubb

ish

bins

etc

.

(e) C

lubs

and

Ass

ocia

tions

Res

erve

s

(i

) Cl

ubs

and

Ass

ocia

tions

- B

uild

ings

This

rese

rve

was

est

ablis

hed

in a

ccor

danc

e w

ith th

e To

wn’

s ne

w c

omm

unity

leas

ing

polic

y to

pro

vide

fund

ing

for o

ngoi

ng b

uild

ing

mai

nten

ance

for t

he v

ario

us fa

cilit

ies.

Co

ntrib

utio

ns a

re m

ade

by b

oth

the

Tow

n an

d th

e Co

mm

unity

Ass

ocia

tions

and

hel

d by

th

e To

wn

for t

his

purp

ose.

(i

i) C

lubs

and

Ass

ocia

tions

- S

ynth

etic

Cou

rt a

nd L

ight

ings

This

rese

rve

was

est

ablis

hed

in a

ccor

danc

e w

ith th

e To

wn’

s ne

w c

omm

unity

leas

ing

polic

y to

pro

vide

repl

acem

ent o

f syn

thet

ic c

ourt

s an

d lig

htin

g in

fras

truc

ture

whe

re

appl

icab

le.

Cont

ribut

ions

are

mad

e by

bot

h th

e To

wn

and

Com

mun

ity A

ssoc

iatio

ns a

nd

held

by

the

Tow

n fo

r thi

s pu

rpos

e.

(ii

i) Cl

ubs

and

Ass

ocia

tions

- C

ar P

arks

and

Sur

roun

ding

s

This

rese

rve

was

est

ablis

hed

in a

ccor

danc

e w

ith th

e To

wn’

s ne

w c

omm

unity

leas

ing

polic

y to

pro

vide

for t

he re

plac

emen

t of c

ar p

arks

and

sur

roun

ding

s w

here

app

licab

le.

Cont

ribut

ions

are

mad

e by

bot

h th

e To

wn

and

Com

mun

ity A

ssoc

iatio

ns a

nd h

eld

by th

e To

wn

for t

his

purp

ose.

(f)

Dev

elop

men

t Con

trib

utio

ns R

eser

ves

Th

e To

wn

unde

r its

“Tow

n Pl

anni

ng S

chem

e”, h

as a

requ

irem

ent f

or d

evel

oper

s to

mak

e a

“cas

h in

lieu

of p

arki

ng” c

ontr

ibut

ion,

as

part

of i

ts p

lann

ing

appr

oval

pro

cess

whe

re it

is

evid

ent t

hat t

here

are

insu

ffi c

ient

par

king

faci

litie

s be

ing

prov

ided

. Th

e “C

ash

in li

eu o

f pa

rkin

g” c

ontr

ibut

ion

will

dif

fer d

epen

ding

in w

hich

pre

cinc

t the

con

stru

ctio

n is

taki

ng p

lace

. To

ena

ble

cont

ribut

ions

to b

e ap

prop

riate

ly m

onito

red

and

acqu

itted

, a s

ub-r

eser

ve h

as b

een

crea

ted

for e

ach

prec

inct

.

(g)

Cam

brid

ge E

ndow

men

t Lan

ds A

ccou

nt

Th

e Ca

mbr

idge

End

owm

ent L

and

Act

192

0 (S

ectio

n 41

(1))

requ

ires

an “E

ndow

men

t Lan

ds

Acc

ount

” to

be e

stab

lishe

d. T

he p

roce

eds

of s

ale

of la

nd in

the

Endo

wm

ent L

ands

are

a ar

e to

be

cred

ited

to th

is a

ccou

nt.

The

fund

s he

ld in

this

acc

ount

mus

t be

expe

nded

for t

he

deve

lopm

ent o

f the

land

in th

e En

dow

men

t Lan

ds a

rea.

Th

e re

serv

e fu

nds

and

Cam

brid

ge E

ndow

men

t Lan

ds A

ccou

nt w

ill b

e ut

ilise

d as

and

whe

n th

e ne

ed a

rises

. Th

e as

set m

anag

emen

t res

erve

and

are

a im

prov

emen

t res

erve

are

use

d on

an

ongo

ing

basi

s. O

ther

rese

rves

will

be

used

for s

peci

fi c

proj

ects

as

and

whe

n re

quire

d.


RESE

RVES

30 J

une

2016

Actu

al $

30 J

une

2016

Budg

et $

30 J

une

2015

Actu

al $

(a)

Area

Impr

ovem

ent

Op

enin

g Ba

lanc

e 1

July

1,7

09,2

88

1,7

19,3

00

765

,401

Tran

sfer

from

Acc

umul

ated

Sur

plus

2,3

56,8

10

1,8

49,7

00

2,6

32,5

16

Tr

ansf

er to

Acc

umul

ated

Sur

plus

(2,0

31,4

70)

(2,9

09,5

00)

(1,6

88,6

29)

Cl

osin

g Ba

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nd

cont

ribut

es in

resp

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f its

em

ploy

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ne o

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follo

win

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pera

nnua

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plan

s:-

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W.A

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er

Th

e To

wn

cont

ribut

es in

resp

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f cer

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of i

ts e

mpl

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s to

an

accu

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ben

efi t

su

pera

nnua

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fund

est

ablis

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spec

t of a

ll M

unic

ipal

ities

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e St

ate.

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acco

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sta

tuto

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quire

men

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own

cont

ribut

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mou

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e Pl

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mee

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efi t

s as

they

ac

crue

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o lia

bilit

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n ha

s be

en re

cogn

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as

at th

e re

port

ing

date

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spec

t of

supe

rann

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nefi

ts fo

r its

em

ploy

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City

of P

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wn

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uper

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an a

ctua

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resp

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trib

utor

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spec

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plan

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enefi

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test

act

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port

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d th

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nifi

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plus

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nt to

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fund

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vise

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the

fund

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uste

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at th

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om A

pril

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Tow

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a m

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stab

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d a

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urce

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over

y Fa

cilit

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rabu

p.

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quire

men

t of t

he p

roje

ct to

suc

ceed

is th

e si

gnin

g of

a F

inan

cial

Gua

rant

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eed

of

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l sev

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r Cou

ncils

to s

atis

fy fi

nanc

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quire

men

ts b

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e co

ntra

ctor

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erta

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proj

ect.

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ncil

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ting

held

on

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eed

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of $

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pr

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eed

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stal

lisin

g is

ver

y lo

w.

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d of

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rant

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ill o

nly

crys

talli

se if

:

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The

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Reg

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l Cou

ncil

is u

nabl

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mee

t the

pay

men

ts a

nd th

ere

is a

Min

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Re

gion

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faul

t und

er th

e Re

sour

ce R

ecov

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lity

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eem

ent (

RRFA

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Min

darie

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iona

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ncil

oblig

atio

n to

set

tle a

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t due

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ce M

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vent

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ranc

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rant

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n is

a g

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for t

he lo

an b

alan

ce o

utst

andi

ng a

s at

30

Jun

e 2

016

take

n ou

t by

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follo

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in th

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club

s in

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ived

sal

es p

roce

eds

of $

3,2

11,6

96

and

boo

ked

its s

hare

of a

ssoc

iate

d de

velo

pmen

t and

sel

ling

cost

s of

$1,

649,

509

, res

ultin

g in

a g

ain

on d

ispo

sal o

f lan

d of

$

1,5

62,1

87 w

hich

has

bee

n re

fl ec

ted

in th

e To

wn’

s St

atem

ent o

f Com

preh

ensi

ve In

com

e. T

his

note

sho

uld

also

be

read

in c

onju

nctio

n w

ith N

ote

31 -

Inve

stm

ent i

n Re

gion

al C

ounc

ils.

2012

/201

3Ac

tual $

2013

/201

4Ac

tual $

2014

/201

5Ac

tual $

2015

/201

6Ac

tual $

Tota

l $Re

venu

e

Proc

eeds

from

Lan

d Sa

les

3,6

44,3

46

4,5

23,1

24

5,0

92,6

11

3,6

17,7

36

16,

877,

817

Less

: GST

(94,

795)

(73,

925)

(64,

566)

(65,

610)

(298

,896

) 3

,549

,551

4

,449

,199

5

,028

,045

3

,552

,126

1

6,57

8,92

1

Less

: Dev

elop

men

t Cos

ts (3

65,3

57)

(489

,058

) (6

17,0

05)

(340

,430

) (1

,811

,850

) 3

,184

,194

3

,960

,141

4

,411

,040

3

,211

,696

1

4,76

7,07

1

Cost

of L

and

Sold

(1,3

09,1

44)

(1,8

29,8

14)

(1,7

47,9

68)

(1,6

49,5

09)

(6,5

36,4

35)

Profi

t on

Sal

e of

Lan

d 1

,875

,050

2

,130

,327

2

,663

,072

1

,562

,187

8

,230

,636

Equi

ty in

Tam

ala

Park

Reg

iona

l Co

uncil

2,3

34,4

63

3,5

35,5

48

4,0

07,8

55

4,1

01,7

13

Land

Hel

d fo

r Res

ale

145

,264

6

,962

2

16,7

00

450

,747

Un

impr

oved

Eng

lobo

Lan

d -

7,5

00,0

00

6,9

37,7

44

5,9

26,9

00

Net A

sset

s as

at 3

0 Ju

ne 2

,479

,727

1

1,04

2,51

0 1

1,16

2,29

9 1

0,47

9,36

0

29.

Maj

or tr

adin

g un

dert

akin

g Th

e W

embl

ey G

olf C

ours

e qu

alifi

es u

nder

the

min

imum

requ

irem

ents

of S

ectio

n 3.

59 o

f the

Lo

cal G

over

nmen

t Act

199

5 an

d Re

gula

tion

9 of

the

Func

tions

and

Gen

eral

Reg

ulat

ions

for a

m

ajor

trad

ing

unde

rtak

ing.

The

Tow

n do

es n

ot o

pera

te a

ny o

ther

maj

or tr

adin

g un

dert

akin

gs.

The

Wem

bley

Gol

f Cou

rse

oper

ates

as

a st

and-

alon

e ac

tivity

and

pay

s th

e To

wn

an a

nnua

l di

vide

nd w

hich

was

$1.

627

mill

ion

for 3

0 Ju

ne 2

016

(201

5: $

1.56

7 m

illio

n).

A s

umm

ary

of th

e fi

nanc

ial p

ositi

on is

det

aile

d be

low

:

2016

Actu

al $

2016

Budg

et $

2015

Actu

al $

Reve

nue

Fees

6,8

13,2

04

6,6

48,5

00

6,8

76,3

29

Othe

r 1

25,5

74

145

,000

2

63,8

87

Tota

l 6

,938

,778

6

,793

,500

7

,140

,216

Expe

nditu

reEx

pend

iture

5,6

00,0

52

5,6

59,5

00

5,9

08,7

19

Inte

rest

546

,665

5

58,5

00

413

,374

Tota

l 6

,146

,717

6

,218

,000

6

,322

,093

Net P

rofi t

from

Ope

ratio

ns 7

92,0

61

575

,500

8

18,1

23

Add

Back

Ove

rhea

ds/N

on C

ash

753

,132

9

48,5

00

1,1

98,1

76

Net C

ash

Surp

lus

from

Ope

ratio

ns 1

,545

,193

1

,524

,000

2

,016

,299

Plus

Pro

ceed

s fro

m s

ale

of P

lant

& E

quip

men

t 3

7,50

0 2

0,00

0 -

Less

Loa

n Pr

incip

al R

epay

men

ts (5

72,3

33)

(570

,500

) (5

21,9

94)

Tran

sfer

Fro

m R

eser

ve 6

16,6

40

653

,500

7

2,97

4 Tr

ansf

er F

rom

End

owm

ent L

and

Acco

unt

- -

-

Cash

Div

iden

d to

the

Tow

n 1

,627

,000

1

,627

,000

1

,567

,279

The

info

rmat

ion

cont

aine

d in

the

abov

e O

pera

ting

Stat

emen

t is

incl

usiv

e of

all

item

s of

reve

nue

and

expe

nditu

re w

hich

has

bee

n us

ed in

the

pric

ing

stru

ctur

e fo

r goo

ds a

nd s

ervi

ces

prov

ided

by

the

golf

cour

se tr

adin

g un

dert

akin

g. T

here

are

no

othe

r ite

ms

outs

ide

the

abov

e O

pera

ting

Stat

emen

t use

d fo

r thi

s pu

rpos

e.

The

inte

rest

exp

ense

am

ount

of $

546,

665

for t

he 2

015/

2016

fi na

ncia

l yea

r inc

lude

s an

inte

rnal

in

tere

st c

harg

e fr

om th

e En

dow

men

t Lan

ds A

ccou

nt o

f $11

1,10

0. T

his

has

been

elim

inat

ed

with

in th

e To

wn’

s fi

nanc

ial r

epor

t.


A fi

ve y

ear f

orec

ast o

f exp

ecte

d fi

nanc

ial p

erfo

rman

ce fo

r the

gol

f cou

rse

base

d on

cur

rent

tren

ds in

the

indu

stry

and

inve

stm

ent i

n th

e go

lf co

urse

hos

pita

lity

and

min

iatu

re g

olf i

s as

follo

ws:

2016 $

2017 $

2018 $

2019 $

2020 $

2021 $

Tota

l $

Reve

nue

Fees

6,8

13,2

04

6,6

37,3

00

6,7

62,0

00

6,8

37,0

00

6,9

03,0

00

6,9

84,0

00

40,

936,

504

Othe

r 1

25,5

74

2,0

19,7

00

2,2

73,0

00

2,3

03,0

00

2,3

33,0

00

2,3

53,0

00

11,

407,

274

Tota

l 6

,938

,778

8

,657

,000

9

,035

,000

9

,140

,000

9

,236

,000

9

,337

,000

5

2,34

3,77

8

Expe

nditu

re

Expe

nditu

re 6

,146

,717

6

,981

,000

7

,096

,000

6

,931

,000

6

,903

,000

6

,907

,000

4

0,96

4,71

7

Tota

l 6

,146

,717

6

,981

,000

7

,096

,000

6

,931

,000

6

,903

,000

6

,907

,000

4

0,96

4,71

7

Net P

rofi t

from

Ope

ratio

ns 7

92,0

61

1,6

76,0

00

1,9

39,0

00

2,2

09,0

00

2,3

33,0

00

2,4

30,0

00

11,

379,

061

Add

Back

Ove

rhea

ds/N

on C

ash

753

,132

1

,091

,000

1

,117

,000

1

,117

,000

1

,117

,000

1

,117

,000

6

,312

,132

Net C

ash

Surp

lus

from

Ope

ratio

ns 1

,545

,193

2

,767

,000

3

,056

,000

3

,326

,000

3

,450

,000

3

,547

,000

1

7,69

1,19

3

Less

: Loa

n Pr

incip

al R

epay

men

ts (5

72,3

33)

(622

,000

) (6

41,5

00)

(657

,000

) (6

73,5

00)

(690

,500

) (3

,856

,833

)

Less

: Prin

cipal

Rep

aym

ent t

o En

dow

men

t Lan

d -

(471

,000

) (5

50,5

00)

(593

,000

) (6

06,5

00)

(620

,500

) (2

,841

,500

)

Add:

Pro

ceed

s fro

m S

ale

of P

lant

& E

quip

men

t 3

7,50

0 -

- -

- -

37,

500

Tran

sfer

red

from

/(to)

Res

erve

616

,640

-

(184

,000

) (3

96,0

00)

(490

,000

) (5

56,0

00)

(1,0

09,3

60)

Cash

Div

iden

d to

the

Tow

n 1

,627

,000

1

,674

,000

1

,680

,000

1

,680

,000

1

,680

,000

1

,680

,000

1

0,02

1,00

0


30.

Oth

er fi

nanc

ial a

sset

s In

vest

men

ts a

re m

ade

in a

ccor

danc

e w

ith th

e W

este

rn A

ustr

alia

n Tr

uste

e A

ct 1

962

(as

amen

ded)

an

d ar

e re

cord

ed a

t cos

t.

Hel

d To

Mat

urity

Inve

stm

ents

Non

Curr

ent

30 J

une

2016 $

30 J

une

2015 $

Mor

tgag

e ba

cked

Sec

urity

541

,829

6

41,7

07

541

,829

6

41,7

07

Not

e:

Curr

ently

one

long

term

sec

urity

rem

ains

in th

e in

vest

men

t por

tfol

io, b

eing

a m

ortg

age

back

ed s

ecur

ity “E

mer

ald

Reve

rse

Mor

tgag

e Se

ries

200

6-1

Cla

ss A

” whi

ch is

an

“AA

A” c

redi

t ris

k ra

ted

secu

rity.

As

at 3

0 Ju

ne 2

016

the

secu

rity

has

a m

arke

t val

ue o

f $5

41,8

29 a

nd th

e ca

rryi

ng v

alue

of t

he in

vest

men

t of $

587,

788

has

been

dec

reas

ed to

refl

ect t

his

valu

e w

ith a

fair

va

lue

adju

stm

ent o

f $45

,959

boo

ked

to th

e St

atem

ent o

f Com

preh

ensi

ve In

com

e.

It sh

ould

be

note

d th

at T

own

at th

is ti

me

has

no in

tent

ion

of s

ellin

g th

e in

vest

men

t. Th

e or

igin

al in

vest

men

t of

$1

mill

ion

is b

eing

gra

dual

ly re

duce

d as

the

unde

rlyin

g m

ortg

ages

are

repa

id w

ith $

316,

401

re

ceiv

ed s

ince

the

secu

rity

was

acq

uire

d.

31.

Inve

stm

ent i

n re

gion

al c

ounc

ils -

join

t ven

ture

(a) N

on-C

urre

nt A

sset

s30

Jun

e 20

16 $30

Jun

e 20

15 $

Min

darie

Reg

iona

l Cou

ncil

5,41

8,51

75,

155,

274

Tam

ala

Park

Reg

iona

l Cou

ncil

4,10

1,71

34,

007,

855

9,52

0,23

09,

163,

129

(b) C

hang

e in

Equ

ity

In

tere

st in

the

join

t ven

ture

by

Coun

cil i

n bo

th M

inda

rie R

egio

nal C

ounc

il an

d Ta

mal

a Pa

rk

Regi

onal

Cou

ncil

is a

ccou

nted

for b

y ap

plyi

ng th

e eq

uity

met

hod.

Und

er th

is m

etho

d of

ac

coun

ting,

inte

rest

in th

e jo

intly

con

trol

led

regi

onal

cou

ncils

is in

itial

ly re

cord

ed a

t cos

t and

ad

just

ed th

erea

fter

for t

he p

ost a

cqui

sitio

n ch

ange

in C

ounc

il’s

shar

e of

net

ass

ets

of th

e jo

intly

con

trol

led

regi

onal

cou

ncils

. A

ccor

ding

ly a

tota

l am

ount

of $

256,

623

post

acq

uisi

tion

chan

ge w

as b

ooke

d, m

ade

up o

f a $

240,

906

incr

emen

t for

Min

darie

Reg

iona

l Cou

ncil

and

a $1

5,71

7 in

crem

ent f

or T

amal

a Pa

rk R

egio

nal C

ounc

il.

Inve

stm

ent i

n Ta

mal

a Pa

rk$

Open

ing

Bala

nce

as a

t 1 J

uly

2015

4,00

7,85

5(b

ased

on

draf

t fi n

ancia

ls)

Proc

eeds

from

sal

e of

Tam

ala

Park

land

lots

in 2

015/

163,

211,

696

Less

: Cos

t of L

and

Deve

lope

d an

d M

oved

to L

and

Held

for R

esal

e(1

,883

,556

)

Less

: Ret

urn

of E

quity

/Pro

fi t fr

om T

PRC

(1,2

49,9

99)

Post

Acq

uisit

ion

Adju

stm

ent t

o Ch

ange

s in

Equ

ity15

,717

Clos

ing

Bala

nce

as a

t 30

June

201

64,

101,

713

Inve

stm

ent i

n M

inda

rie$

Open

ing

Bala

nce

as a

t 1 J

uly

2015

5,15

5,27

4(b

ased

on

draf

t fi n

ancia

ls)

Reim

burs

emen

t of L

oan

Repa

ymen

ts22

,337

Post

Acq

uisit

ion

Adju

stm

ent t

o Ch

ange

s in

Equ

ity24

0,90

6

Clos

ing

Bala

nce

as a

t 30

June

201

65,

418,

517


(c) M

inda

rie R

egio

nal C

ounc

il

Th

e M

inda

rie R

egio

nal C

ounc

il w

as fo

rmal

ly c

onst

itute

d in

Dec

embe

r 198

7. T

he T

own

of

Cam

brid

ge a

long

with

the

Citie

s of

Per

th, W

anne

roo,

Joo

ndal

up, S

tirlin

g an

d V

ince

nt a

nd th

e To

wn

of V

icto

ria P

ark,

is a

mem

ber o

f the

Min

darie

Reg

iona

l Cou

ncil.

The

prim

ary

func

tion

of th

e Re

gion

al C

ounc

il un

der t

he c

onst

itutio

n ag

reem

ent i

s fo

r the

ord

erly

and

effi

cie

nt

trea

tmen

t and

/or d

ispo

sal o

f was

te.

Th

e To

wn

of C

ambr

idge

has

a o

ne tw

elft

h (1

/12

) equ

ity in

the

land

and

ass

ets

of th

e re

fuse

di

spos

al fa

cilit

y as

per

the

cons

titut

ion

amen

dmen

t (da

ted

25

Nov

embe

r 199

6) th

at

reco

gnis

es th

e To

wn

as a

mem

ber o

f the

Min

darie

Reg

iona

l Cou

ncil.

Th

e To

wn

has

reco

gnis

ed in

its

book

s th

e in

vest

men

t of $

5,41

8,5

17 w

hich

is re

fl ec

ted

as a

co

ntrib

utio

n in

Min

darie

Reg

iona

l Cou

ncil’

s St

atem

ent o

f Fin

anci

al P

ositi

on a

t 30

June

201

6

(una

udite

d).

Th

e To

wn’

s in

tere

st in

the

join

t ven

ture

as

at 3

0 Ju

ne 2

016

is a

s fo

llow

s:

2016 $

Inte

rest

in th

e Jo

int v

entu

re a

s at

30

June

201

65,

418,

517

Re

pres

ente

d by

sha

re o

f Joi

nt v

entu

re e

ntity

’s fi

nanc

ial p

ositi

on:

Curre

nt A

sset

s2,

380,

325

Non

Curre

nt A

sset

s5,

282,

218

Tota

l Ass

ets

7,66

2,54

3

Curre

nt L

iabi

lities

888,

292

Non

Curre

nt L

iabi

lities

1,35

5,73

4To

tal L

iabi

lities

2,24

4,02

6

Net A

sset

s5,

418,

517

(i

v) T

amal

a Pa

rk R

egio

nal C

ounc

il

The

Tow

n is

a o

ne tw

elft

h (1

/12)

ow

ner o

f Lot

950

4 Ta

mal

a Pa

rk w

ith s

ix o

ther

Cou

ncils

(C

ities

of P

erth

, Joo

ndal

up, S

tirlin

g, V

ince

nt a

nd W

anne

roo

and

the

Tow

n of

Vic

toria

Par

k).

The

seve

n ow

ner c

ounc

ils h

ave

esta

blis

hed

the

Tam

ala

Park

Reg

iona

l Cou

ncil

with

the

spec

ifi c

func

tion

of c

arry

ing

out a

resi

dent

ial l

and

deve

lopm

ent,

know

n as

the

Cata

lina

Esta

te. A

s pa

rt o

wne

r of t

he la

nd, t

he T

own

is e

ntitl

ed to

one

twel

fth

of th

e ne

t pro

ceed

s of

the

land

dev

elop

men

t.

In 2

006,

the

Ow

ners

rece

ived

$16

.55

mill

ion

from

the

Stat

e G

over

nmen

t for

the

tran

sfer

of

par

t of t

he la

nd to

‘Bus

h Fo

reve

r’. T

his

prov

ided

the

initi

al s

tart

up

equi

ty fo

r the

pr

ojec

t, th

e To

wn’

s sh

are

bein

g $1

.35

mill

ion.

Lan

d sa

les

reta

ined

by

the

Tam

ala

Park

Re

gion

al C

ounc

il ha

ve fu

nded

the

stag

ed d

evel

opm

ent i

n ac

cord

ance

with

the

proj

ect

plan

and

dur

ing

the

year

, the

Cou

ncil

retu

rned

$15

mill

ion

in e

quity

to th

e ow

ners

, fro

m

land

sal

es. T

he T

own’

s sh

are

was

$1,

249,

999.

The

Tow

n’s

inte

rest

in th

e jo

int v

entu

re a

s at

30

June

201

6 is

as

follo

ws:

2016 $

Inte

rest

in th

e Jo

int v

entu

re a

s at

30

June

201

64,

101,

713

Repr

esen

ted

by s

hare

of J

oint

ven

ture

ent

ity’s

fi nan

cial p

ositio

n:

Curre

nt A

sset

s3,

961,

705

Non

Curre

nt A

sset

s16

0,94

7To

tal A

sset

s4,

122,

652

Curre

nt L

iabi

lities

16,2

18No

n Cu

rrent

Lia

biliti

es4,

721

Tota

l Lia

biliti

es20

,939

Net A

sset

s4,

101,

713

32.

Budg

et c

ompa

riso

ns –

non

ope

rati

ng

Net

Cur

rent

Ass

et P

osit

ion

The

net c

urre

nt a

sset

pos

ition

bal

ance

car

ried

forw

ard

from

the

prev

ious

fi na

ncia

l yea

r aft

er

adju

stm

ent f

or R

estr

icte

d A

sset

s fo

r the

pur

pose

of t

he 2

015

/20

16 b

udge

t was

$3,

636,

000.

The

actu

al n

et c

urre

nt a

sset

pos

ition

bal

ance

sho

wn

in th

e au

dite

d fi

nanc

ial r

epor

t as

at 3

0 Ju

ne

201

6 an

d af

ter a

djus

tmen

t for

Res

tric

ted

Ass

ets

was

$3,

42

9,50

0.

33.

Econ

omic

dep

ende

ncy

The

Tow

n do

es n

ot u

sual

ly re

ceiv

e a

sign

ifi ca

nt p

ortio

n of

reve

nue

by w

ay o

f gra

nts

from

the

Stat

e an

d Fe

dera

l Gov

ernm

ent.

How

ever

this

fi na

ncia

l yea

r the

tota

l am

ount

of c

ash

gran

t an

d co

ntrib

utio

ns re

ceiv

ed fr

om g

over

nmen

t sou

rces

for t

he y

ear e

nded

30

June

201

6 is

$

5,4

10,5

34 w

hich

repr

esen

ts 1

0.5%

of t

otal

reve

nue

of $

51,

351

,802

. A

furt

her n

on c

ash

cont

ribut

ion

of $

27,3

63,6

36 w

as re

ceiv

ed in

rela

tion

to th

e Pe

rry

Lake

s D

evel

opm

ent (

see

Not

e13)

. Th

e am

ount

of g

rant

s an

d co

ntrib

utio

ns re

ceiv

ed b

y pr

ogra

m is

dis

clos

ed in

Not

e 21

.

34.

Fina

ncia

l ris

k m

anag

emen

t Co

unci

l’s a

ctiv

ities

exp

ose

it to

a v

arie

ty o

f fi n

anci

al ri

sks

incl

udin

g pr

ice

risk,

cre

dit r

isk,

liqu

idity

ris

k an

d in

tere

st ra

te ri

sk.

The

Coun

cil’s

ove

rall

risk

man

agem

ent f

ocus

es o

n th

e un

pred

icta

bilit

y of

fi na

ncia

l mar

kets

and

see

ks to

min

imis

e po

tent

ial a

dver

se e

ffec

ts o

n th

e fi

nanc

ial

perf

orm

ance

of t

he C

ounc

il.

Coun

cil d

oes

not e

ngag

e in

tran

sact

ions

exp

ress

ed in

fore

ign

curr

enci

es a

nd is

ther

efor

e no

t su

bjec

t to

fore

ign

curr

ency

risk

.

Fina

ncia

l ris

k m

anag

emen

t is

carr

ied

out b

y th

e fi

nanc

e ar

ea u

nder

pol

icie

s ap

prov

ed b

y th

e Co

unci

l.

The

Coun

cil h

eld

the

follo

win

g fi

nanc

ial i

nstr

umen

ts a

t rep

ortin

g da

te:

Carr

ying

Val

ueFa

ir Va

lue

2016 $

2015 $

2016 $

2015 $

Fina

ncia

l Ass

ets

Cash

and

cas

h eq

uiva

lent

s17

,186

,154

32,5

44,9

7217

,186

,154

32,5

44,9

72Re

ceiva

bles

2,26

6,01

02,

236,

055

2,26

6,01

02,

236,

055

Held

-to-m

atur

ity in

vest

men

ts68

3,60

073

7,51

854

1,82

964

1,70

7

20,1

35,7

6435

,518

,545

19,9

93,9

9335

,422

,734

Fina

ncia

l Lia

bilit

ies

Paya

bles

6,64

4,75

56,

618,

156

6,64

4,75

56,

618,

156

Borro

win

gs13

,749

,518

13,2

15,0

0311

,943

,281

13,1

78,7

71

20,3

94,2

7319

,833

,159

18,5

88,0

3619

,796

,927

Fair

valu

e is

det

erm

ined

as

follo

ws:

• Ca

sh a

nd C

ash

Equi

vale

nts,

Rec

eiva

bles

, Pay

able

s -

estim

ated

to th

e ca

rryi

ng v

alue

whi

ch

appr

oxim

ates

net

mar

ket v

alue

.

• Bo

rrow

ings

- e

stim

ated

futu

re c

ash

fl ow

s di

scou

nted

by

the

curr

ent m

arke

t int

eres

t rat

es

appl

icab

le to

ass

ets

and

liabi

litie

s w

ith s

imila

r ris

k pr

ofi le

s.

• H

eld

to M

atur

ity in

vest

men

ts a

re b

ased

on

net r

ealis

able

val

ue a

s at

the

repo

rtin

g da

te.

(a)

Cash

and

Cas

h Eq

uiva

lent

s H

eld-

to-m

atur

ity in

vest

men

ts

Co

unci

l’s o

bjec

tive

is to

max

imis

e its

retu

rn o

n ca

sh a

nd in

vest

men

ts w

hils

t mai

ntai

ning

an

adeq

uate

leve

l of l

iqui

dity

and

pre

serv

ing

capi

tal.

The

fi na

nce

area

man

ages

the

cash

and

in

vest

men

ts p

ortf

olio

with

the

assi

stan

ce o

f an

inde

pend

ent a

dvis

er. C

ounc

il ha

s an

inve

stm

ent

polic

y an

d th

e po

licy

is s

ubje

ct to

revi

ew b

y Co

unci

l. A

n In

vest

men

t Rep

ort i

s pr

ovid

ed to

Co

unci

l on

a m

onth

ly b

asis

set

ting

out t

he m

ake-

up a

nd p

erfo

rman

ce o

f the

por

tfol

io.

Th

e m

ajor

risk

ass

ocia

ted

with

inve

stm

ents

is p

rice

risk

- th

e ris

k th

at th

e ca

pita

l val

ue o

f in

vest

men

ts m

ay fl

uctu

ate

due

to c

hang

es in

mar

ket p

rices

, whe

ther

thes

e ch

ange

s ar

e ca

used

by

fact

ors

spec

ifi c

to in

divi

dual

fi na

ncia

l ins

trum

ents

of t

heir

issu

ers

or fa

ctor

s af

fect

ing

sim

ilar i

nstr

umen

ts tr

aded

in a

mar

ket.

Ca

sh a

nd in

vest

men

ts a

re a

lso

subj

ect t

o in

tere

st ra

te ri

sk -

the

risk

that

mov

emen

ts in

in

tere

st ra

tes

coul

d af

fect

retu

rns.

A

noth

er ri

sk a

ssoc

iate

d w

ith c

ash

and

inve

stm

ents

is c

redi

t ris

k -

the

risk

that

a c

ontr

actin

g en

tity

will

not

com

plet

e its

obl

igat

ions

und

er a

fi na

ncia

l ins

trum

ent r

esul

ting

in a

fi na

ncia

l loss

to C

ounc

il.

Co

unci

l man

ages

thes

e ris

ks b

y di

vers

ifyi

ng it

s po

rtfo

lio a

nd o

nly

purc

hasi

ng in

vest

men

ts

with

hig

h cr

edit

ratin

gs o

r cap

ital g

uara

ntee

s. C

ounc

il al

so s

eeks

adv

ice

from

an

inde

pend

ent

advi

sor b

efor

e pl

acin

g an

y ca

sh in

to in

vest

men

ts.


32.

Budg

et c

ompa

riso

ns –

non

ope

rati

ng

Net

Cur

rent

Ass

et P

osit

ion

The

net c

urre

nt a

sset

pos

ition

bal

ance

car

ried

forw

ard

from

the

prev

ious

fi na

ncia

l yea

r aft

er

adju

stm

ent f

or R

estr

icte

d A

sset

s fo

r the

pur

pose

of t

he 2

015

/20

16 b

udge

t was

$3,

636,

000.

The

actu

al n

et c

urre

nt a

sset

pos

ition

bal

ance

sho

wn

in th

e au

dite

d fi

nanc

ial r

epor

t as

at 3

0 Ju

ne

201

6 an

d af

ter a

djus

tmen

t for

Res

tric

ted

Ass

ets

was

$3,

42

9,50

0.

33.

Econ

omic

dep

ende

ncy

The

Tow

n do

es n

ot u

sual

ly re

ceiv

e a

sign

ifi ca

nt p

ortio

n of

reve

nue

by w

ay o

f gra

nts

from

the

Stat

e an

d Fe

dera

l Gov

ernm

ent.

How

ever

this

fi na

ncia

l yea

r the

tota

l am

ount

of c

ash

gran

t an

d co

ntrib

utio

ns re

ceiv

ed fr

om g

over

nmen

t sou

rces

for t

he y

ear e

nded

30

June

201

6 is

$

5,4

10,5

34 w

hich

repr

esen

ts 1

0.5%

of t

otal

reve

nue

of $

51,

351

,802

. A

furt

her n

on c

ash

cont

ribut

ion

of $

27,3

63,6

36 w

as re

ceiv

ed in

rela

tion

to th

e Pe

rry

Lake

s D

evel

opm

ent (

see

Not

e13)

. Th

e am

ount

of g

rant

s an

d co

ntrib

utio

ns re

ceiv

ed b

y pr

ogra

m is

dis

clos

ed in

Not

e 21

.

34.

Fina

ncia

l ris

k m

anag

emen

t Co

unci

l’s a

ctiv

ities

exp

ose

it to

a v

arie

ty o

f fi n

anci

al ri

sks

incl

udin

g pr

ice

risk,

cre

dit r

isk,

liqu

idity

ris

k an

d in

tere

st ra

te ri

sk.

The

Coun

cil’s

ove

rall

risk

man

agem

ent f

ocus

es o

n th

e un

pred

icta

bilit

y of

fi na

ncia

l mar

kets

and

see

ks to

min

imis

e po

tent

ial a

dver

se e

ffec

ts o

n th

e fi

nanc

ial

perf

orm

ance

of t

he C

ounc

il.

Coun

cil d

oes

not e

ngag

e in

tran

sact

ions

exp

ress

ed in

fore

ign

curr

enci

es a

nd is

ther

efor

e no

t su

bjec

t to

fore

ign

curr

ency

risk

.

Fina

ncia

l ris

k m

anag

emen

t is

carr

ied

out b

y th

e fi

nanc

e ar

ea u

nder

pol

icie

s ap

prov

ed b

y th

e Co

unci

l.

The

Coun

cil h

eld

the

follo

win

g fi

nanc

ial i

nstr

umen

ts a

t rep

ortin

g da

te:

Carr

ying

Val

ueFa

ir Va

lue

2016 $

2015 $

2016 $

2015 $

Fina

ncia

l Ass

ets

Cash

and

cas

h eq

uiva

lent

s17

,186

,154

32,5

44,9

7217

,186

,154

32,5

44,9

72Re

ceiva

bles

2,26

6,01

02,

236,

055

2,26

6,01

02,

236,

055

Held

-to-m

atur

ity in

vest

men

ts68

3,60

073

7,51

854

1,82

964

1,70

7

20,1

35,7

6435

,518

,545

19,9

93,9

9335

,422

,734

Fina

ncia

l Lia

bilit

ies

Paya

bles

6,64

4,75

56,

618,

156

6,64

4,75

56,

618,

156

Borro

win

gs13

,749

,518

13,2

15,0

0311

,943

,281

13,1

78,7

71

20,3

94,2

7319

,833

,159

18,5

88,0

3619

,796

,927

Fair

valu

e is

det

erm

ined

as

follo

ws:

• Ca

sh a

nd C

ash

Equi

vale

nts,

Rec

eiva

bles

, Pay

able

s -

estim

ated

to th

e ca

rryi

ng v

alue

whi

ch

appr

oxim

ates

net

mar

ket v

alue

.

• Bo

rrow

ings

- e

stim

ated

futu

re c

ash

fl ow

s di

scou

nted

by

the

curr

ent m

arke

t int

eres

t rat

es

appl

icab

le to

ass

ets

and

liabi

litie

s w

ith s

imila

r ris

k pr

ofi le

s.

• H

eld

to M

atur

ity in

vest

men

ts a

re b

ased

on

net r

ealis

able

val

ue a

s at

the

repo

rtin

g da

te.

(a)

Cash

and

Cas

h Eq

uiva

lent

s H

eld-

to-m

atur

ity in

vest

men

ts

Co

unci

l’s o

bjec

tive

is to

max

imis

e its

retu

rn o

n ca

sh a

nd in

vest

men

ts w

hils

t mai

ntai

ning

an

adeq

uate

leve

l of l

iqui

dity

and

pre

serv

ing

capi

tal.

The

fi na

nce

area

man

ages

the

cash

and

in

vest

men

ts p

ortf

olio

with

the

assi

stan

ce o

f an

inde

pend

ent a

dvis

er. C

ounc

il ha

s an

inve

stm

ent

polic

y an

d th

e po

licy

is s

ubje

ct to

revi

ew b

y Co

unci

l. A

n In

vest

men

t Rep

ort i

s pr

ovid

ed to

Co

unci

l on

a m

onth

ly b

asis

set

ting

out t

he m

ake-

up a

nd p

erfo

rman

ce o

f the

por

tfol

io.

Th

e m

ajor

risk

ass

ocia

ted

with

inve

stm

ents

is p

rice

risk

- th

e ris

k th

at th

e ca

pita

l val

ue o

f in

vest

men

ts m

ay fl

uctu

ate

due

to c

hang

es in

mar

ket p

rices

, whe

ther

thes

e ch

ange

s ar

e ca

used

by

fact

ors

spec

ifi c

to in

divi

dual

fi na

ncia

l ins

trum

ents

of t

heir

issu

ers

or fa

ctor

s af

fect

ing

sim

ilar i

nstr

umen

ts tr

aded

in a

mar

ket.

Ca

sh a

nd in

vest

men

ts a

re a

lso

subj

ect t

o in

tere

st ra

te ri

sk -

the

risk

that

mov

emen

ts in

in

tere

st ra

tes

coul

d af

fect

retu

rns.

A

noth

er ri

sk a

ssoc

iate

d w

ith c

ash

and

inve

stm

ents

is c

redi

t ris

k -

the

risk

that

a c

ontr

actin

g en

tity

will

not

com

plet

e its

obl

igat

ions

und

er a

fi na

ncia

l ins

trum

ent r

esul

ting

in a

fi na

ncia

l loss

to C

ounc

il.

Co

unci

l man

ages

thes

e ris

ks b

y di

vers

ifyi

ng it

s po

rtfo

lio a

nd o

nly

purc

hasi

ng in

vest

men

ts

with

hig

h cr

edit

ratin

gs o

r cap

ital g

uara

ntee

s. C

ounc

il al

so s

eeks

adv

ice

from

an

inde

pend

ent

advi

sor b

efor

e pl

acin

g an

y ca

sh in

to in

vest

men

ts.


Sens

itivi

ty A

naly

sis

30 J

une

2016 $

30 J

une

2015 $

Impa

ct o

f a 2

.5%

(201

4/20

15:5

%*)

mov

emen

t in

price

of i

nves

tmen

tsEq

uity

17,0

0037

,000

Stat

emen

t of C

ompr

ehen

sive

Inco

me

17,0

0037

,000

Impa

ct o

f a 0

.25%

(201

4/20

15:0

.5%

) mov

emen

t in

inte

rest

rate

s on

cas

h an

d in

vest

men

ts:

Equi

ty45

,000

166,

000

Stat

emen

t of C

ompr

ehen

sive

Inco

me

45,0

0016

6,00

0

N

otes

: (*

) Se

nsiti

vity

per

cent

ages

bas

ed o

n m

anag

emen

t’s e

xpec

tatio

n of

futu

re p

ossi

ble

mar

ket m

ovem

ents

.

(b)

Rece

ivab

les

Co

unci

l’s m

ajor

rece

ivab

les

com

pris

e ra

tes

and

annu

al c

harg

es a

nd u

ser c

harg

es a

nd fe

es.

The

maj

or ri

sk a

ssoc

iate

d w

ith th

ese

rece

ivab

les

is c

redi

t ris

k -

the

risk

that

the

debt

s m

ay

not b

e re

paid

. Co

unci

l man

ages

this

risk

by

mon

itorin

g ou

tsta

ndin

g de

bt a

nd e

mpl

oyin

g de

bt

reco

very

pol

icie

s.

Cr

edit

risk

on ra

tes

and

annu

al c

harg

es is

min

imis

ed b

y th

e ab

ility

of C

ounc

il to

reco

ver t

hese

de

bts

as a

sec

ured

cha

rge

over

the

land

- th

at is

, the

land

can

be

sold

to re

cove

r the

deb

t.

Coun

cil i

s al

so a

ble

to c

harg

e in

tere

st o

n ov

erdu

e ra

tes

and

annu

al c

harg

es a

t hig

her t

han

mar

ket r

ates

, whi

ch fu

rthe

r enc

oura

ges

paym

ent.

Th

e le

vel o

f out

stan

ding

rece

ivab

les

is re

port

ed to

Cou

ncil

mon

thly

and

ben

chm

arks

are

set

an

d m

onito

red

for a

ccep

tabl

e co

llect

ion

perf

orm

ance

.

Co

unci

l mak

es s

uita

ble

prov

isio

n fo

r dou

btfu

l rec

eiva

bles

as

requ

ired

and

carr

ied

out c

redi

t ch

ecks

on

mos

t non

rate

deb

tors

.

Th

ere

are

no m

ater

ial r

ecei

vabl

es th

at h

ave

been

sub

ject

to a

re-n

egot

iatio

n of

repa

ymen

t te

rms.

Th

e pr

ofi le

of C

ounc

il’s

cred

it ris

k at

repo

rtin

g da

te w

as:

30 J

une

2016

30 J

une

2015

Perc

enta

ge o

f Rat

es a

nd A

nnua

l Cha

rges

Curre

nt0%

0%Ov

erdu

e10

0%10

0%ll r

ates

out

stan

ding

at y

ear e

nd fo

r 201

5/20

16 a

re re

gard

ed a

s be

ing

over

due

Perc

enta

ge o

f Oth

er R

ecei

vabl

es:

Curre

nt47

%37

%Ov

erdu

e53

%63

%

Tr

ade

rece

ivab

les

outs

tand

ing

for m

ore

than

thirt

y da

ys a

re c

onsi

dere

d to

be

over

due.

Coun

cil’s

term

s of

trad

e ar

e th

irty

days

.

(c)

Paya

bles

Bo

rrow

ings

Pa

yabl

es a

nd b

orro

win

gs a

re b

oth

subj

ect t

o liq

uidi

ty ri

sk -

that

is th

e ris

k th

at in

suffi

cie

nt

fund

s m

ay b

e on

han

d to

mee

t pay

men

t obl

igat

ions

as

and

whe

n th

ey fa

ll du

e. C

ounc

il m

anag

es th

is ri

sk b

y m

onito

ring

its c

ash

fl ow

requ

irem

ents

and

liqu

idity

leve

ls a

nd

mai

ntai

ning

an

adeq

uate

cas

h bu

ffer

.

Th

e co

ntra

ctua

l und

isco

unte

d ca

sh fl

ows

of C

ounc

il’s

Paya

bles

and

Bor

row

ings

are

set

out

in

the

Liqu

idity

Sen

sitiv

ity T

able

bel

ow:

Due

with

in1

Year $

Due

betw

een

1 an

d 5

Year

s $

Due

afte

r5

Year

s $

Tota

lco

ntra

ctua

lca

sh fl

ows $

Carr

ying

valu

es $

2015

Paya

bles

6,61

8,15

6

-

-6,

618,

156

6,61

8,15

6

Borro

win

gs98

7,40

03,

901,

178

12,1

65,7

9417

,054

,372

13,2

15,0

03

7,60

5,55

63,

901,

178

12,1

65,7

9423

,672

,528

19,8

33,1

59

2016

Paya

bles

6,64

4,75

5

-

-6,

644,

755

6,64

4,75

5

Borro

win

gs2,

102,

261

3,85

4,87

410

,916

,171

16,8

73,3

0713

,749

,518

8,74

7,01

63,

854,

874

10,9

16,1

7123

,518

,062

20,3

94,2

73

Bo

rrow

ings

are

als

o su

bjec

t to

inte

rest

rate

risk

- th

e ris

k th

at m

ovem

ents

in in

tere

st ra

tes

coul

d ad

vers

ely

affe

ct fu

ndin

g co

sts.

Cou

ncil

man

ages

this

risk

by

borr

owin

g lo

ng te

rm

and

fi xi

ng th

e in

tere

st ra

te to

the

situ

atio

n co

nsid

ered

the

mos

t adv

anta

geou

s at

the

time

of n

egot

iatio

n.


The

follo

win

g ta

bles

set

out

the

carr

ying

am

ount

of t

he fi

nanc

ial i

nstr

umen

ts e

xpos

ed to

inte

rest

rate

risk

:

< 1

Year $

> 1

< 2

Year

s $>

2 <

3 Ye

ars $

> 3

< 4

Year

s $>

4 <

5 Ye

ars $

> 5

Year

s $To

tal $

Wei

ghte

d Av

erag

e Ef

fect

ive

Inte

rest

Rat

e %

Year

End

ed 3

0 Ju

ne 2

015

Borr

owin

gs

Fixe

d Ra

te

Debe

ntur

es58

8,96

060

9,60

561

0,19

562

7,63

664

6,99

710

,131

,610

13,2

15,0

03

Wei

ghte

d Av

erag

e

Effe

ctive

Inte

rest

Rat

e3.

02%

2.99

%2.

98%

3.03

%3.

02%

3.00

%-

3.01

%

Year

End

ed 3

0 Ju

ne 2

016

Borr

owin

gs

Fixe

d Ra

te

Debe

ntur

es1,

766,

817

643,

958

638,

266

656,

992

676,

460

9,36

7,02

513

,749

,518

Wei

ghte

d Av

erag

e

Effe

ctive

Inte

rest

Rat

e2.

44%

2.82

%2.

82%

2.81

%2.

80%

2.90

%-

2.76

%


35.

Aud

itor

s re

mun

erat

ion

30 J

une

2016 $

30 J

une

2015 $

Audi

t of F

inan

cial R

epor

t 2

6,60

6 2

7,92

4 Ot

her S

ervic

es 1

2,35

6 1

,200

38,

962

29,

124

The

abov

e fe

es re

late

to p

rovi

sion

of e

xter

nal a

udit

serv

ices

onl

y.

36.

Fina

ncia

l rat

ios

of th

e ac

coun

tsRa

tio20

1220

1320

1420

1520

16

Curr

ent R

atio

(Cur

rent

ass

ets

min

us re

stric

ted

asse

ts)

2.18

:11.

65:1

1.22

:11.

56:1

4.31

:1(C

urre

nt lia

biliti

es m

inus

liabi

lities

ass

ocia

ted

with

rest

ricte

d as

sets

)

Debt

Ser

vice

Cov

er R

atio

Annu

al O

pera

ting

Surp

lus

befo

re in

tere

st a

nd e

xpen

ditu

re9.

9521

.76

30.0

910

.03

11.3

4Pr

incip

al a

nd In

tere

st

Own

Sour

ce R

even

ue C

over

age

Ratio

Own

Sour

ce O

pera

ting

Expe

nse

0.97

1.15

1.39

1.09

1.04

Oper

atin

g Ex

pens

e

Oper

atin

g Su

rplu

s Ra

tioOp

erat

ing

Reve

nue

less

Ope

ratin

g Ex

pens

e4.

3%19

.1%

33.0

%18

.3%

8.5%

Own

Sour

ce O

pera

ting

Reve

nue

Asse

t Con

sum

ptio

n Ra

tioDe

prec

iate

d Re

plac

emen

t Cos

t of D

epre

ciabl

e As

sets

56.7

%56

.9%

58.1

%54

.1%

56.5

%Cu

rrent

Rep

lace

men

t Cos

t of D

epre

ciabl

e As

sets

Asse

t Sus

tain

abili

ty R

atio

Capi

tal R

enew

al a

nd R

epla

cem

ent E

xpen

ditu

re1.

91.

141.

161.

514.

34De

prec

iatio

n

Asse

t Ren

ewal

Fun

ding

Rat

io #

NPV

of P

lann

ed C

apita

l Ren

ews

over

10

year

sN/

A1.

01.

01.

01.

0NP

V of

Req

uire

d Ca

pita

l Exp

endi

ture

ove

r 10

year

s

# F

or th

e as

set r

enew

al fu

ndin

g ra

tio, t

he a

ssum

ptio

n ha

s be

en m

ade

that

pla

nned

ass

et re

new

al

expe

nditu

re o

ver t

he n

ext 1

0 ye

ars

will

be

in li

ne w

ith re

quire

d ca

pita

l exp

endi

ture

.

Curr

ent R

atio

Purp

ose:

To

asse

ss a

dequ

acy

of w

orki

ng c

apita

l and

the

abili

ty to

sat

isfy

sho

rt te

rm o

blig

atio

ns.

Deb

t Ser

vice

Cov

er R

atio

Purp

ose:

To

mea

sure

the

abili

ty to

repa

y de

bt in

clud

ing

leas

e pa

ymen

ts.

Ow

n So

urce

Rev

enue

Cov

erag

e Ra

tio

Purp

ose:

To

mea

sure

the

abili

ty to

cov

er o

pera

ting

cost

s fr

om it

s ow

n so

urce

of r

even

ue.

Ope

ratin

g Su

rplu

s Ra

tio

Purp

ose:

To

mea

sure

the

abili

ty to

cov

er o

pera

tiona

l cos

ts a

nd a

ny re

mai

ning

reve

nue

avai

labl

e fo

r cap

ital f

undi

ng o

r oth

er p

urpo

ses.

Ass

et C

onsu

mpt

ion

Ratio

Purp

ose:

To

mea

sure

the

exte

nt to

whi

ch d

epre

ciab

le a

sset

s ha

ve b

een

cons

umed

.

Ass

et S

usta

inab

ility

Rat

io

Purp

ose:

To

asse

ss th

e ra

te o

f rep

laci

ng o

r ren

ewin

g ex

istin

g no

n fi

nanc

ial a

sset

s to

the

cons

umpt

ion

rate

of t

otal

ass

et s

tock

.

Ass

et R

enew

al F

undi

ng R

atio

Purp

ose:

To

mea

sure

the

abili

ty to

fund

futu

re p

roje

cted

ass

et re

new

al o

r rep

lace

men

t.


Cambridge

Community

Administration/Civic Centre

1 Bold Park Drive, Floreat WA 6014

Monday to Friday 8.00am to 5.00pm

PO Box 15 FLOREAT 6014

T: 08 9347 6000

F: 08 9347 6060

[email protected]

www.cambridge.wa.gov.au

The Boulevard Centre – customer service

Cambridge Library building, lower level

Monday to Friday 10.00am to 3.00pm

Documents

TOWN OF CAMBRIDGE ANNUAL REPORT · 2017-03-16 · 4 Town of Cambridge Annual Report 2015-2016. Council and Committee meetings Ordinary meetings of Council are held on the fourth Tuesday