2015-16 Annual Report 2015-16 Annual Report | Page 162

Notes to the Financial Statements for the year ended 30 June 2016
Note 13 . Fair Value Measurements ( continued )
The fair values of the assets are determined using valuation techniques which maximise the use of observable data , where it is available , and minimise the use of entity specific estimates . If all significant inputs required to fair value an asset are observable , the asset is included in Level 2 . If one or more of the significant inputs is not based on observable market data , the asset is included in Level 3 . This is the case for Council infrastructure assets , which are of a specialist nature for which there is no active market for similar or identical assets . These assets are valued using a combination of observable and unobservable inputs .
The table presents all assets and liabilities that have been measured and recognised at fair value at 30 June 2016 . Comparative information has not been provided as allowed by the transitional provisions of AASB 13 Fair Value Measurement .
( 1 ) The following table presents all assets and liabilities that have been measured and recognised at
fair values :
Fair Value Measurement using :
Level 1
Level 2
Level 3
Total
Date
Quoted
Significant
Significant
2016
of latest
prices in
observable
unobservable
valuation
active mkts
inputs
inputs
Financial Assets
- Investment in South Burnett Community
$' 000
$' 000
$' 000
$' 000
Enterprises Limited ( formerly known as
Yarraman Financial Services )
dd / mm / yy
-
20
-
20
Total Financial Assets
-
20
-
20
Property , Plant and Equipment - Land - Site Improvements - Parks & Recreation , Depots & Community Facilities - Buildings - Residential - Buildings - Specialised - Road and bridge network - Bus Shelters - Road and bridge network - Car Parks - Road and bridge network - Roundabouts - Road and bridge network - Traffic Lights - Road and bridge network - Bridges - Road and bridge network - Roads - Water - Active Assets - Water - Passive Assets - Wastewater - Active Assets - Wastewater - Passive Assets - Drainage - Stormwater - Other Infrastructure - Aerodrome Infrastructure Total Property , Plant and Equipment
dd / mm / yy
-
227,135
-
227,135
dd / mm / yy
-
-
168,876
168,876
dd / mm / yy
-
8,064
-
8,064
dd / mm / yy
-
-
263,792
263,792
dd / mm / yy
-
-
1,666
1,666
dd / mm / yy
-
-
4,651
4,651
dd / mm / yy
-
-
3,985
3,985
dd / mm / yy
-
-
3,773
3,773
dd / mm / yy
-
-
85,435
85,435
dd / mm / yy
-
-
2,043,377
2,043,377
dd / mm / yy
-
-
269,555
269,555
dd / mm / yy
-
-
485,956
485,956
dd / mm / yy
-
-
111,725
111,725
dd / mm / yy
-
-
239,399
239,399
dd / mm / yy
-
-
286,263
286,263
dd / mm / yy
-
-
12,858
12,858
-
235,199
3,981,311
4,216,510
162 CHAPTER 6 Financial report TOOWOOMBA REGIONAL COUNCIL Annual Report 2015 - 2016