annual report - town of cambridge · annual report 2014 - 2015. town of cambridge annual report...

ANNUAL REPORT2014 - 2015

Town of Cambridge Annual Report 2014-15

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.

Our Vision

CONTENTSMayor’s Report ............................................................................................................................................................ 3

Elected Members ........................................................................................................................................... 4-5

Ward Boundaries ...................................................................................................................................................... 6

Committees and working groups .............................................................................................. 7

Council Functional Structure .............................................................................................................. 8

Executive Management & Operational Managers ..................................... 9

Chief Executive Officer’s Report .............................................................................. 10-11

Projects ................................................................................................................................................................... 12-14

Corporate and Strategic ............................................................................................................ 15-19

Community Development ................................................................................................... 20-27

Development and Sustainability .............................................................................. 28-37

Infrastructure .............................................................................................................................................. 38-41

Infrastructure Parks ......................................................................................................................... 42-47

About our Town ....................................................................................................................................... 48-49

Financial Report .................................................................................................................................................... 50

1Our Vision

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.

2 Town of Cambridge Annual Report 2014-15

Major ProjectsWe will soon be nearing the end of our major projects construction program.

The facilities we have built, or are in the process of building, are more than replacement facilities. They are major upgrades to the facilities they are replacing in terms of design, functionality and quality.

All have significant architectural merit and will be showpieces for their purposes.

The new, completely rebuilt Bold Park Aquatic Centre, comprises two beautiful buildings as well as modern swimming facilities.

The new surf lifesaving club building at City Beach will be iconic, both as a surf lifesaving clubhouse and as the central point of City Beach.

And the new restaurant and function centre at Wembley Golf Course will be wonderful to look at, as well as to drink in or dine in.

It will also be the final piece in the jigsaw that is our plan to transform the old Wembley golf course, with its dated terracotta tile buildings and chicken coop driving range, that many of us knew in our youth, to a modern, magnificent golf centre.

The new developments will also redefine the way we use those facilities.

The Aquatic Centre will also become a community centre. There will still be patrons swimming and leaving, but now there will be greater opportunity for people to slow down, relax and socialise. The cafe, the barbecues, the kids pool and the crèche will encourage people to stay longer.

The new surf lifesaving club building is also the retaining wall for a new, elevated park in the centre of City Beach and three new restaurants. Together these buildings will transform City Beach and the way we use it.

And Wembley Golf Course will have a lot to offer non-golfers, with catering for large functions and a new mini golf course for children.

Other ProjectsStage II of the skate park in Floreat has been completed, along with a full size basketball court (which could be the first of many). It is wonderful to see not only the excitement of the kids who use this facility, but the public acceptance of a facility which began its life in controversy.

Finally, the widening of the footpaths and medians, and narrowing of Cambridge Street, to create the long sought after Town Centre in West Leederville, with a safer pedestrian and traffic environment, has been completed.

It was a very long and expensive process, but it is a good result.

Planning and housing The Cambridge Street works were undertaken as part of the West Leederville Activity Centre Plan, which has been the catalyst for a lot of new development in the area, and we hope that the works will lead to further and better development.

Work has also commenced on the Wembley Town Centre Activity Centre Plan to promote and control development in that area.

This year saw the culmination of five years work and consultation on our housing strategy. We have already introduced a Housing Options Policy (2013) and a Streetscape Policy, reduced front setbacks in City Beach and Floreat, and initiated Town Planning Scheme changes to improve the presentation of Grantham Street in Wembley (2014).

The Town’s housing diversity proposals (Town Planning Scheme Amemdement 31) were advertised in early 2015. There was considerable feedback from residents, which was considered by the Council and resulted in a large number of changes being made to the proposed amendment, which has been sent to the WAPC for consideration.

SIMONWITHERS

Mayor’sReport

3Mayor’s Report

Local Government Reform ProcessThe collapse of the state government’s local government amalgamation process brought to an end five years of toil and misery. An enormous amount of time, energy and money was committed to this process by the Town of Cambridge and many other councils, all of which is now written off.

The Town supported a merger with the City of Subiaco and taking in the suburbs of Wembley Downs, Churchlands and part of Woodlands to our north. This would have doubled our size and created a very good council around a number of interlocking communities.

The opportunity has now been lost and won’t come back for many years. The great tragedy is that we had the opportunity to create an enlarged council based on what worked for us.

When the state government revisits amalgamations I doubt that they will give local government the same level of involvement in the process and the result may be detrimental for our residents (and those of Subiaco).

Looking ahead

We have set in train a number of sales and ventures that will see around $100 million flow into the Town in the near future, an amount of money that can only be described as an embarrassment of riches.

The Town has also been working on long term plans for finance and asset management.

Completing this planning and bringing together the long term asset management model with the funding model and expected future cashflows will be a major challenge, but one that needs to be done well to manage our wealth. It will also be a major opportunity.

We have a lot to look forward to.

Simon Withers

Mayor


Elected Members

MayorSimon Withers 30 Branksome Gardens CITY BEACH 6015

Tel 9347 6014Fax 9347 6066 email [email protected] Term ends October 2015

Deputy MayorCr Alan Langer45 The Boulevard FLOREAT 6014

Tel/Fax 9284 1273Mob 0458 760 623email [email protected] Term ends October 2015

Cr Sonia Grinceri493B Cambridge Street FLOREAT 6014

Tel/Fax 9284 1273Mob 0458 760 623email [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 2015

5Elected Members

Council and Committee meetings

Ordinary 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 Colin Walker6 Gali Lane CITY BEACH 6015

Mob 0411 449 936email [email protected] Term ends October 2015

Cr Louis Carr51B Simper Street WEMBLEY 6014

Tel 9387 8333Mob 0417 733 113email [email protected] Term ends October 2015

Cr Pauline O’Connor JP1 Talgarth Way CITY BEACH 6015

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

Cr Corinne MacRae67 Blencowe Street WEST LEEDERVILLE 6007

Tel 9381 8327Fax 9388 3985email [email protected] Term ends October 2017

Cr Tracey King3/246 Vincent Street WEST LEEDERVILLE 6007

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

Town of Cambridge Annual Report 2014-156

Ward Boundaries

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

7Ward Boundaries I Committees and working groups

Committees and working groups

TOWN REPRESENTATIVES AND DELEGATES

Mindarie Regional Council Mayor Withers

Tamala Park Regional Council Cr Carr

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

Cambridge Coastcare Inc. Cr Walker

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

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

Public Art Committee Crs King, MacRae and Grinceri

Town Planning Scheme Review Steering Committee Mayor, Crs Bradley, Walker and Carr

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

CEO Performance Review Committee Mayor Withers, Crs Bradley, Grinceri and Langer

Major Projects and Underground Power Steering Committee Mayor Withers, Crs Walker and Langer

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: [email protected]


Council Functional Structure

MAYOR AND COUNCILORS (8)Committee Meetings held monthly

CHIEF EXECUTIVE OFFICER

DIRECTORS

Corporate and Strategic

• Finance• Contracts/Purchasing• Information Technology• Property (Land and

Leasing)• Customer Service• Document Management• Corporate

Communications• Governance and Contracts• Human Resources

Infrastructure

• Engineering (Design and Investigations

• Waste Management• Building Management• Works• Parks• Depot Operations• Fleet Management• Underground Power• Asset Management

Community Development

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

Projects

• Wembley Sports Park• City Beach Surf Club

Building and Commercial Development

• West Leederville Centre• Wembley Golf Course

Hospitality, Miniature Golf and Playground

• Former Nursery Site Development

• Area G Mt Claremont Development

• Bold Park Aquatic Centre Development

• Other Projects

Development and Sustainability

• Planning Services• Building Services• Environment Health• Sustainability• Development Liaison/

Compliance• Ranger Services• Beach Inspections

9Council Functional Structure I Executive Management and Operational Managers

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 Blakeny-Britter

DIRECTOR COMMUNITY DEVELOPMENTCam Robbins

Community Development, Disability Services, Senior Services, Youth Services, Community Safety, Facilities Management, Library Services, Bold Park Aquatic Centre, 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 Liaison and Compliance, Ranger Services, Beach Inspections.

Manager DevelopmentStev Rodic

Manager ComplianceLee Rowley (Retired March 2015)

John Giorgi (Mar 2015 - June 2015)

DIRECTOR INFRASTRUCTUREChris Colyer

Engineering (Design and Investigations), Waste Management, Building Management, Works, Parks, Depot Operations, Fleet Management.

Manager Infrastructure WorksJon Bell

Manager Infrastructure (Assets and Design)Peter Maloney

Manager Infrastructure ParksRoss Farlekas

DIRECTOR PROJECTSBrett Jackson

Major Projects

Executive Management and Operational Managers


The last financial year has been very interesting for the Town of Cambridge with two significant issues creating a year of two halves.

Part 1 - Local Government ReformThe early part of the year was dominated by local government reform with the Local Government Advisory Board submitting their recommendations to the Minister for Local Government in July 2014. The recommendation supported the Town’s boundary proposal to expand including most of City of Subiaco and parts of Stirling and Nedlands and to call the new council City of Subiaco.

In October 2014 the Government decided that it would accept most of the recommendations of the Local Government Advisory Board. However, north City Beach was not proposed to remain in the new council and significant work was undertaken with that community to submit a further proposal to the Local Government Advisory Board for that area to be in the new council combining with Subiaco.

The Government did not gazette the Governor's Orders until 24 December 2014 and it was after this time the Town was able to form a Local Implementation Committee (LIC) with Subiaco. Work had commenced at a staff level to plan the implementation of the "New" Subiaco that was to be established from 1 July 2015.

No sooner had the collaboration between the two councils got off to a very positive start that the State Government decided to abandon the mergers after polls were held in three other councils that prevented the mergers in those areas. A significant amount of work was undertaken during the year to prepare for the merger and particularly in January and February as the merger appeared imminent.

Despite the outcome the process did allow Subiaco and Cambridge to establish a closer working relationship and benefits were gained as the staff learned how processes and systems differ between the organisations. It is hoped that we will be able to continue with a positive working relationship for the mutual benefit of both organisations.

At this point I would like to sincerely thank all the staff at the Town for their support and patience through a very unsettling period created by the uncertainty of the mergers. I was genuinely pleased at how professional and positive the attitude of our staff was during the reform process. Although it was a very busy period the staff continued to provide excellent service to the community that did not decline during this tumultuous period.

Part 2 - Housing ChoicesThe second half of the year was dominated by a significant planning initiative with a town planning scheme amendment (Amendment 31) initiated at the February Council meeting to introduce future housing choices in the suburbs of City Beach, Floreat and Mt Claremont. The intent behind the amendment

was to provide for greater housing diversity in those suburbs which are dominated by single residential homes.

The residents living in these suburbs objected to the proposal due to concerns over density and amenity impacts such as traffic, parking and streetscape amongst other reasons.

Whilst it was anticipated there would be a high level of community interest in this proposal, and perhaps a high level of opposition, it was not anticipated how vigorous the opposition would be and the extent to which a campaign was mounted to stop the amendment proceeding. As a result this activity dominated the Council through the rest of the financial year and continued afterwards.

The Town received a very large response to the proposal including approximately 2,500 formal submission as well as 1,950 survey responses. The Council considered the result at a Special Council meeting in July 2015 following a very comprehensive report prepared by the Town's planning team analysing the submissions. The Council decided to adopt the amendment in a modified form. The amendment was subsequently forwarded to the WA Planning Commission who will make a recommendation to the Minister for Planning to determine the outcome of the proposal. The Town is waiting on a decision from the government on this matter.

Other ActivitiesNot withstanding these two major issues the Town has made significant progress on its major projects as follows:

• City Beach surf club building and hospitality development ($18m - under construction)

• Bold Park Aquatic Centre redevelopment ($12.25m - under construction)

• Wembley Golf Course Hospitality Development ($10M - under construction)

• Wembley Golf Course miniature golf and playground ($2.5M - detailed design)

• Wembley Sports Park Pavilion ($3.5m - out to tender)

• Nursery site land development - Parkside Walk, Jolimont (Outline development approved for up to 350 dwellings by the WA Planning Commission)

JASONBUCKLEY

Chief Executive Officer’s Report

11Chief Executive Officer’s Report

• Area G land development - St John's Wood, Mt Claremont (subdivision approved for 49 lots)

• Perry Lakes Stadium Redevelopment, Floreat (three large apartment sites with up to 292 dwellings to be transferred by the State Government to the Town to sell valued at $27m excluding GST; the Town to receive a balance payment of $23m in 2016/17 from the State Government to make up the total of $50m owed to the Town as required by the Perry Lakes Redevelopment Act 2005).

The Town also completed a major upgrade to the Perry Lakes skate park and is planning a further stage subject to funding.

We have again been successful with our waste management efforts under the Maximum Recovery program with 46% of kerbside waste diverted from landfill. Waste in the recycling bin accounted for 29% and the green bin 17%. 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.

Despite the substantial activity surrounding local government reform, Amendment 31 and major projects the Town has continued to deliver outstanding services to the community. Details of our achievements through the year are outlined in this report and demonstrates the Town’s ethos of ‘getting things done’ in accordance with the Community Strategic Plan.

FinancesThe 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 below charts demonstrate the financial trend from a macro perspective. It is noted that the Town currently has over $300m in net assets and this will increase soon as the proceeds from major land developments are received over the next few years.

ClosingThe last year has been a very unsettling year and I would like to thank the staff for their positive and enthusiastic approach to the challenges that we have endured over the last 12 months. I also express my appreciation for their continued commitment and focus in delivering services to the community. I wish to thank the elected members in providing direction and their guidance and support of the administration in achieving the council's objectives.

Jason Buckley

Chief Executive Officer

Revenue Expenses

2009/10$M

2010/11$M

2011/12$M

2012/13$M

2013/14$M

2014/15$M

Profit/Loss

Revenue $29.9 $33.6 $35.9 $37.2 $39.9 $41.8

Expenses -$32.0 -$33.6 -$35.2 -$37.2 -$39.4 -$41.1

Operating Result -$2.1 $0.0 $0.7 $0.0 $0.5 $0.7

Capital Grants & Contributions $0.4 $1.3 $7.0 $11.2 $2.3 $3.4

Asset Disposals & Adjustments $9.5 -$0.4 $1.0 $8.4 $18.0 $8.0

Revaluation of Assets $71.0 $22.7

Net Result $7.8 $0.9 $8.7 $19.6 $91.8 $34.8

Balance Sheet

Assets $171.1 $174.2 $182.1 $203.0 $294.9 $330.3

Liabilities -$19.2 -$21.4 -$20.6 -$21.9 -$22.0 -$22.6

Net Assets $151.9 $152.8 $161.5 $181.1 $272.9 $307.7

% Increase 5.4% 0.6% 5.7% 12.1% 50.7% 12.8%

$ M

illio

ns

2013/2014 2014/2015 2012/20132011/20122010/20112009/2010

$45

$40

$35

$30

$25

$20


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 ParkIn March 2015, the new State Netball Centre was officially opened by the Premier of Western Australia. This largely completed works envisaged in the Master Plan for Wembley Sports Park, adopted by Council in June 2011. Netball season 2015 saw all of the new roads, car parks and access points in operation, and despite a higher level of netball activity, traffic and pedestrian flow was substantially improved over that of recent years.

The Town is about to embark on the next phase of works at Wembley Sports Park, being the development of Wembley Sports Park Pavilion which will become the home of the Wembley Athletic Club. Construction should commence later in calendar year 2015 and take about a year to complete. Once complete, this new pavilion will be able to host game day facilities for baseball, cricket and football as well as provide an all year venue for the Wembley Athletic Club. The anticipated cost of this project is $3.5m.

Surf Club Building and Commercial Development at City BeachAt the time of writing, the main construction works are nearing completion which will allow the café, pizzeria and bar/restaurant operators to commence their fitout and begin trading in summer 2015. Similarly, the surf club building will be handed over to the surf club, for them to commence lifesaving operations this summer.

The Town will then move into the next phase of this project, addressing improved amenity for the public in other parts of the City Beach foreshore, with new paths, BBQs, picnic and shade structures, as well as car parking improvements.

It is hoped that residents will enjoy the new areas developed and make good use of the facilities on offer.

Wembley Golf Course Hospitality ProjectThe much anticipated construction of the new hospitality facilities at Wembley Golf Course has commenced. The Town will develop a new bistro/bar area, function rooms, kiosk, change rooms and toilet facilities, as well as improved car parking and landscaping, within a $10m development. These new facilities will progressively come on line from late 2015 through to mid-2016.

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 which will also be complete by mid-2016.

BRETTJACKSON

Projects

13Projects

Bold Park Aquatic CentreConstruction is nearing completion of the new Aquatic centre. Plans are well underway to re-open this facility to the public before summer 2015 providing the community with:

• 10 lane, 50 metre heated outdoor pool

• 20 metre heated learn to swim/leisure pool in a covered area sheltered from rain and wind

• Children’s play pool, also under cover

• New change rooms, including family friendly cubicles

• Kiosk for pool users and walkers through Bold Park

• Increased car parking

• Pool side BBQ and playground areas

This project represents a $12.25m investment by the Town in community facilities and has been achieved without any State funding support.


Former Nursery Site, JolimontAn outline development plan for the subdivision of this site into a residential development was approved by the Western Australian Planning Commission in July 2015. Landcorp, in partnership with the Town, will develop a mix of single residential and apartment sites to cater for up to 350 new residences. Subdivision plans are being finalised with a view to start construction in the latter half of 2015.

St John’s Wood, Mount ClaremontLandcorp, in partnership with the Town of Cambridge, is developing a new residential subdivision in land formerly owned by the Town and ceded to the State Government in 1995, as part of the establishment of Bold Park.

49 new lots will be created during 2015 providing a mix of 47 single residential houses and 2 grouped housing sites.

Pertinent to this development will be some rehabilitation works on an adjoining lot of land which is vested in the management of the Botanic Gardens and Parks Authority.

Subdivision approval was granted by the Western Australian Planning Commission in May 2015.

15Projects I Corporate and Strategic

JASONLYON

Corporateand Strategic

Corporately, our focus for the year revolved around managing the change associated with local government reform. Business improvement initiatives were placed on hold whilst the organisation undertook a process of due diligence, systems analysis and service delivery reviews. Following the State Government's decision to abandon the reform process, our efforts towards the latter half of the year shifted to a new planning phase for Cambridge, in light of greater certainty for the future.

The directorate continues to support the Town's three major construction 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. Worth over $61 million, these projects have required all aspects of corporate services to increase its service support, from tender and contract management to commercial negotiations, business case development and financial control.

The Town was able to negotiate and finalise a number of property related transactions and remains an active partner in three land subdivisions. Sales at Ocean Mia were completed, and three freehold lots in City Beach were sold to fund the Bold Park Aquatic Centre upgrade. A commercial agreement for the sale of land and upgrade of The Boulevard Shopping Centre in City Beach was reached after many years of negotiations. This will see a refurbished centre in 2016. Perhaps the most significant transaction is the transfer of three group dwelling sites worth $27.4 million excluding gst from the State Government as part of the settlement under the Perry Lakes Redevelopment Act. The Minister announced the transfer late in May 2015 and the Town will place the sites progressively on the market. The Town will also receive a further $22.6 million in cash to make up the $50 million owed to the Town.

The announcement on the settlement of the Perry Lakes redevelopment coincided with finalising the third iteration of the Town's Strategic Financial Plan. In June, Council decided to continue with the financial plan revision and formed a Major Projects and Underground Power advisory committee to oversee its further revision. Land sale proceeds, including Perry Lakes are set to exceed $100 million over the next ten years and careful management of the Town's wealth for the benefit of current and future generations is paramount.

FinanceThe Town commenced the year with an operating budget of $41 million and a capital program of $46 million. At year end, the operating surplus was $3.93 million and the overall surplus over budget, after allowing for works in progress was $294,000, which was transferred to the Town's Asset Management reserve.

Capital works of $26.2 million were undertaken, including $6.7 million on the Bold Park Aquatic Centre upgrade and $9.4 million on the City Beach Surf Clubrooms and Commercial project, plus ongoing renewal of the road, drainage and footpath infrastructure networks.

During the year, a number of major projects were advanced from detailed design to construction. In total, the value of these major projects is in the vicinity of $61 million. With $36.5 million spent to date, a further $28 million is earmarked over the next two years.

A number of the Major Projects are funded in part by the Endowment Lands Account, (the "ELA"). Opening with a balance of $27.5 million, a further $5.55 million was deposited from the proceeds of land sales. Funds were then transferred from the ELA for the Town's major projects and for other smaller capital projects capital projects, totalling $16.1 million. At year end, the ELA had a balance of $17 million, which is earmarked to complete the major projects currently underway.

During the year the Town revalued its infrastructure assets in accordance with new local government accounting regulations. The Town's assets are now recorded at their fair 'current day' value rather than the written down historical purchase cost.

Overall, the Town's property and infrastructure assets increased during the year by $40 million, including $24 million of infrastructure revaluations. The Town expended $26.2 million on assets and booked depreciation, write-offs and revaluation decrements of $10.2 million.

The asset revaluations also had a significant impact on the equity position of the Town, which increased from $273 million to $308 million.


Finance Year in DetailStatement of Comprehensive IncomeThe operating result for the year shows a surplus of $709,000 against an expected budgeted operating loss (including depreciation) of $285,000. This is an overall improvement on budget of $994,000 and was primarily driven by Commonwealth Financial Assistance grants and local roads grants totalling $500,000 were received in advance for the 2015/2016 financial year and higher than expected interest earnings of $240,000, with more funds available for investment due to slower major project cash outflows.

The net result after allowing for interest charges, capital funding and profits from asset sales was $12.1 million against budget of $12.3 million.

Profit of $6.3 million on asset sales was realised from resulted from the sale of the last remaining multi-residential lot within the Ocean Mia land development for $3.5 million, and the sale of a lot in Keaney Place, City Beach for $1 million. A further $2.8 million in sales proceeds were also generated from the Catalina residential estate land sales at Tamala Park. The Town wrote off assets to the value of $1 million included the building demolition of the Wembley Athletic Club pavilion and Wembley Golf Course tavern, which are being replaced.

Funding was received from capital grants and contributions totalling $3.4 million for the major projects with a further $0.5 million due.

17Corporate and Strategic

Financial PositionThe Town’s Statement of Financial Position shows net assets of $308 million at year end, compared to $273 million for the previous year. The increase of $35 million is a result of an increment of $22.7 million to the asset revaluation surplus, an increase in accumulated surplus of $21 million and a decrease in cash reserves of $8.9 million applied to the Town's major projects.

A review of the Town’s property, plant and equipment and infrastructure movements for the year indicate that apart from a $24 million infrastructure asset revaluation, some $26.2 million in asset additions were booked, including $9.4 million for the City Beach Surf Clubrooms and Commercial Development and $6.7 million for the Bold Park Aquatic Centre Redevelopment project. Other additions included $3.4 million of road and traffic improvements. The asset economic life graph indicates that the Town’s net assets are approximately 35% through their useful life, with 65% remaining. This is within the acceptable performance standards for asset management set by the Department of Local Government.

The Town’s overall equity or net worth increased by $35 million for the year. The total equity as at 30 June 2015 is $308 million and includes $22.8 million in cash reserves and the Endowment Lands Account. The majority of these funds are set aside for major projects and asset renewal capital programmes. An increase in the revaluation surplus of $24 million has been booked this year to reflect the increase in the Town’s infrastructure assets to fair value.

1996

/199

7

1997

/199

8

1998

/199

9

1999

/200

0

2000

/200

1

2001

/200

2

2002

/200

3

2003

/200

4

2004

/200

5

2005

/200

6

2006

/200

7

2007

/200

8

2008

/200

9

2009

/201

0

2010

/201

1

2011

/201

2

2012

/201

3

2013

/201

4

2014

/201

5

350

300

250

200

150

100

50

0

Changes in Net Assets

$ M

illio

ns

1996

/199

7

1997

/199

8

1998

/199

9

1999

/200

0

2000

/200

1

2001

/200

2

2002

/200

3

2003

/200

4

2004

/200

5

2005

/200

6

2006

/200

7

2007

/200

8

2008

/200

9

2009

/201

0

2010

/201

1

2011

/201

2

2012

/201

3

2013

/201

4

2014

/201

5

Net Non-Current AssetsNet Current Assets (Working Capital)

320

300

280

260

240

220

200

180

160

140

120

100

80

Changes in Equity

$ M

illio

ns

Accumulated SurplusReserves

1996

/199

7

1997

/199

8

1998

/199

9

1999

/200

0

2000

/200

1

2001

/200

2

2002

/200

3

2003

/200

4

2004

/200

5

2005

/200

6

2006

/200

7

2007

/200

8

2008

/200

9

2009

/201

0

2010

/201

1

2011

/201

2

2012

/201

3

2013

/201

4

2014

/201

5

Buildings Office Furniture & Equipment External Plant & Equipment Infrastructure

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 Life

Exp

ires


Information Technology & Business SystemsThe Information Technology and Business Systems team continues to provide guidance and support to users of the Town’s hardware, software and communications technical infrastructure via its Help Desk.

Key improvements to the technical environment during 2014/2015 included an upgrade to the network capacity at the Town including the public Wi-Fi environment at the Administration Centre, Library and Boulevard Centre. A new replacement phone system was installed at the Administration Centre to provide greater flexibility in managing calls from customers.

High level business processes were documented and reviewed as a precursor for efficiency improvements linked to upgrades and enhancements in the core business systems supporting customer interactions.

Customer Services The Town’s Customer Service team is committed to providing our community quality personal service and delivery excellence at all times.

A diverse range of service, information and application requests via phone, mail, email, website and in person are processed from our Customers at the Bold Park Drive Administration Centre, The Boulevard Centre and Wembley Community Centre.

Ongoing refinement and business initiatives continue to enhance our service delivery options including improvements in the Towns website and upgraded phone system.

Corporate CommunicationsDuring 2014/2015 Corporate Communications, via a variety 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 29 Cambridge News bulletins published in 2014/2015.

To coincide with the published edition, an email distribution of Cambridge News was sent to 1,615 subscribers. Over the period the number of subscribers increased by 47% to 1,615, up from 1,100 the previous year.

Project specific eNewsletters have also been created and used throughout the year to keep subscribers informed about the City Beach Development, Bold Park Aquatic Redevelopment and performances at The Quarry Amphitheatre.

In 2014/2015 Twitter was used almost daily to relay current news. The Town tweeted 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 following at the end of June 2015 was 1,297. This was a jump of 382 followers from the previous 12 month reporting period.

19Corporate and Strategic

The Town’s website (www.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.

The website was constantly reviewed and updated to ensure the content was accurate and current.

A new feature of the website this year was the introduction of webcams at our major project sites (City Beach Development, Bold Park Aquatic and Wembley Golf Course Hospitality Precinct), allowing viewers to watch the developments live.

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 2015 the Town employed 197 of full-time equivelant staff, comprised of 64 permanent part-time employees. The Town retained the minimum workers compensation insurance contribution of 1.6%, based on a strong health and safety culture.

GovernanceCouncil meeting attendance

Council Meetings attended July 14 to June 15 Apologies Leave of absence

Mayor S Withers 11

Deputy Mayor Cr A Langer 10 1

Cr R Bradley 11

Cr S Grinceri 10 1

Cr T King 11

Cr C MacRae 10 1

Cr C Walker 11

Cr L Carr 11

Cr P O'Connor JP 11

Decisions of Council

2009/2010 2010/2011 2012/2013 2013/2014 2014/2015

Items considered 364 359 379 382 392

Average meeting duration 80 minutes 91 minutes 124 minutes 138 minutes 129 Minutes

Welcoming new citizensFour public citizenship ceremonies for Town of Cambridge residents were held in 2014/2015 in July and October 2014, on Australia Day 2015 and in April 2015. A total of 183 applicants received citizenships during the reporting period.

Date Number of conferees

July 2014 50

October 2014 41

26 January 2015 47

April 2015 45


FESTIVALS AND MAJOR EVENTSDuring 2014/2015, 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 Celebration Summer of Fun’ events program consisted of the following eight community events from December 2014 to April 2015:

• Christmas at Lake Monger,

• Australia Day Celebrations at Perry Lakes Reserve,

• Music in the Park at Floreat Beach Foreshore and Rutter Park, Wembley,

• Sand Sculpture competition at City Beach,

• Cambridge Street Festival,

• Exposure Youth Festival at Perry Lakes, and

• ANZAC Day Ceremony and Centenary Celebrations.

The Town’s inaugural “Cambridge Street Festival” was held in March 2015 and was hailed a great success with approximately 10,000 people attending. The first event of its kind to be held in the Town saw Cambridge Street between Jersey and Simper streets transformed into a dynamic community space. Activities included live entertainment, pop up market stalls, amusement rides, children’s entertainment, circus performers and plenty of community group participation. The event is now set to be included on the Town’s annual events calendar.

Other major events throughout the year included:

• Rose Pruning Demonstration (July 2014);

• City to Surf Fun Run (August 2014);

• Volunteers Function (October 2014);

• Local Primary Schools Education Week Debate (November 2014);

• Organ Donors Donate Life Ceremony (March 2015);

• Sids ‘n’ Kids Sunshine Beach Event (March 2015); and

• Velofest International Cycling Event (March 2015).

Community Development

FINANCIAL ASSISTANCEThrough its Community Grants program the Town provided a total of $33,647 in the form of grants and donations to local community organisations, service groups, schools and sporting clubs.

The Community Organsiations Grants program provided a total of $11,683 to local community clubs and groups to purchase new equipment. These included:

• $1,100 to Cambridge Croquet Club for new playing equipment;

• $1,100 to City Beach Tee Ball Club for new playing equipment;

• $1,100 to City Beach Tennis Club for new security equipment;

• $1,100 to Subiaco Floreat Cricket Club for new playing equipment;

• $1,100 to Wembley Districts Junior Cricket Club for new playing equipment;

• $958 to West Coast Junior Cricket Club for new playing equipment;

• $1,100 to West Coast Amateur Football Club for new playing equipment;

• $1,100 to West Coast Sporting Association for new sports injury equipment;

• $1,100 to Eileen Honner Playgroup Inc for new operational equipment;

• $1,100 to Floreat Toy Library for new operational equipment; and

• $825 to Wembley Playgroup Inc for new operational equipment.

CAMROBBINS

21Community Development

The Community Events Grant program funded three local community organisations to assist in running events open to residents of the Town totalling $3,000. These included:

• The Schichi Go San Festival at the Japanese School in City Beach,

• The Kite Festival at City Beach Ovals; and

• The Nanson Street Christmas Party and Carol’s in Wembley.

A further $5,858 was approved for programs and initiatives at schools either located within the Town or servicing children who live in the Town. These included:

• $858 to Floreat Park Primary School for their ‘Hub’ project; and

• $5,000 towards chaplaincy programs at Churchlands Senior High School, Shenton College, Floreat Parl Primary School and West Leederville Primary School.

The ‘Financial Assistance for Individual Achievement’ program contributed a total of $12,400 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 $706 under the ‘Donations to Interclub Competitions’ funding program, which assists with the purchase of trophies and catering. These included:

• Reabold Tennis Club - Junior Hardcourt Championship - $506

• Cambridge Bowling and Recreation Club - Ladies Gala Day - $200

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

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

• A Local Primary Schools Art Exhibition. The wining art acquisition piece entitled “Bruno the Panda” was entered by Oliver Brown from Year 4 at City Beach Primary School; AND

• The Town continued its public display of artwork by various local artists at the Town’s Boulevard Centre. Each artist had two months to display their artwork for public viewing and/or purchase.

SPORT AND RECREATIONFacilities Assistance Grants

The Town’s ‘Community Organisations Facilities Assistance’ program assists with the provision or replacement of sporting and community facilities within the Town. In 2014/2015 this program provided $49,000 to the West Coast Sporting Association to help fund the replacement of flood lights to City Beach Oval, and Reabold Tennis Club was provided with $4,500 to assist in funding the replacement of shade sails. These projects were funded in conjunction with the Department of Sport and Recreation’s Community Sporting and Recreation Facilities Fund (CSRFF).

KidSport

In 2014/2015, the Town partnered with the Department of Sport and Recreation (DSR) to implement and promote 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 55 eligible children aged 5–18 years received KidSport vouchers to offset club membership fees.

Of these young people, 30% identified with having a disability and 11% came from a culturally and linguistically diverse (CALD) background. The Town actively supports participation in junior sport and recreation and the KidSport program ensures all children within the Town can be involved.

Club Development

2014/2015 marked the commencement of the Town’s Club Development program. The Town has partnered with the Department of Sport and Recreation to provide Club Development services to local sport and recreation clubs.

In this first year the program focused on assisting clubs to be sustainable and supporting them to deliver opportunities for physical activity. Clubs were offered opportunities to attend training workshops, and were provided information and advice about sport and recreation trends, club governance and funding opportunities.

VOLUNTEER RECOGNITIONThe Town hosted its annual volunteers function in September 2014 to recognise and give thanks to volunteers in Cambridge for their dedication and commitment. As in previous years, this year’s function, at The Boulevard Centre, included a full sit down breakfast and a number of formal presentations which profiled the work of some of our most outstanding local volunteers.

Mrs Barbara Minchin was awarded Club Volunteer of the Year for her selfless service as a leader of youth and as District Leader and mentor to many girl guides. Mrs Minchin has served as a leader to young people for the last 50 years, and in particular, to the Girl Guides groups of Wembley and Floreat.

Mr Ivo Davies was awarded the Community Volunteer of the Year for his willingness to undertake any task and his tireless commitment to Cambridge Coastcare. Mr Davies has been on the Committee of Cambridge Coastcare since it was formed in 1998 and has been president for six of those years. He has undertaken major activities within the Town that have enhanced the natural biodiversity, community and landscape values of the Town’s coastal ecosystems.


DISABILITY SERVICESThe Town of Cambridge aims to improve accessibility and inclusiveness for people with disabilities and their carers and families through strategies outlined in the Disability Access and Inclusion Plan (DAIP) 2012-2015.

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 2014/2015 were:

• Disability Access Audits of Public Facilities A disability access audit of 25 of the Town’s public buildings

was completed by O’Brien Harrop Access.

• Upgrade of the accessible toilet at the Cambridge Library The upgrade included the installation of an automatic door

to allow for easier and more dignified use by people using buggies and wheelchairs.

• ‘Have a Chat’ Program The ‘Have-a Chat’ program provides social activities and

outings for young people with a disability aged 18-25. The program was held fortnightly at the Wembley Community Centre.

• Local History Books converted to Audio Books Local history books ‘Dunny Runs’ and ‘From Limestone and

Sandhills: the history of the development of City Beach and Floreat’ have been narrated and created into audio books with the assistance of VisAbility WA. They are now available for loan at the Cambridge Library.

• The Caring in the Community Award Two local Cambridge businesses were joint winners of the

2014 ‘Caring in the Community’ award: Delish Fresh Food & Coffee House and Solstice Café were both recognised for their accessible and inclusive business practices.

• Town of Cambridge staff disability awareness training. Ben Sgherza, an independent disability consultant,

presented disability awareness training to Town of Cambridge staff in June 2015. 115 members of staff completed the training, with over 80% of participants rating the training as excellent.

COMMUNITY SAFETYIn June 2014 Council endorsed the updated Community Safety and Crime Prevention Plan 2014/2016. Six priority areas are identified as key goals in the updated 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 2014/2015

Cambridge Seniors Expo

The Town of Cambridge held its second annual Seniors Expo on Thursday, 9 October 2014 at Wembley Community Centre and in the adjoining Rutter Park. This event is designed to celebrate our seniors and grandparents with entertainment and information stalls, and a strong focus on safety for seniors. The 2014 Seniors Expo attracted over 300 people.

Neighbourhood Watch - Halloween Hotspot

In October 2014, the Town once again joined with other Western Suburb Councils to participate in the Halloween Hotspot program. Supported by Neighbourhood Watch, this initiative provided a safe and positive Halloween experience for children.

Graffiti Reporting and Recording Software

In 2015 the Town upgraded its graffiti removal management software and devices to the Panasonic tablet technology. This upgrade has made the process of recording and reporting graffiti much more efficient, enabling rapid removal of graffiti in the Town.

Free 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.

Other Safety Programs

• Further development of the graffiti reporting and removal program; 396 incidents of graffiti were dealt with at a cost of $58,057, an increase of 19.5% from the previous year;

• 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 Blue Light Discos for local young people;

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

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


CAMBRIDGE SENIOR SERVICESCambridge Senior Services provides Home and Community Care (HACC) for eligible seniors, people with a disability and/or their carers. This is a joint initiative of the Federal and State Governments, and all services are delivered under the guidelines determined by the funding authority.

All HACC services utilise the ‘wellness approach’ to maximise independence by assisting individuals to build and maintain their skills with essential everyday activities. The program assists those with the greatest needs and enables people to stay connected to their community.

Cambridge Senior Services is located at the Wembley Community Centre. In 2014/2015, Cambridge Senior Services provided 23,307 service hours for 329 clients in the following service areas:

• Centre based day care (Day Club) and meals/refreshments;

• Domestic assistance;

• Personal care;

• Social support;

• Podiatry;

• Respite care; and

• Transport.

Each week, throughout the year, the Day Club provided a range of leisure activities including games and crafts, visiting speakers, concerts and outings. Other key events held during the year included:

• Carers evening, held on the 19 November 2014; and

• Seniors’ Christmas Community Lunch held on 4 December with 150 seniors attending.

CAMBRIDGE YOUTH SERVICESSince 2000, Cambridge Youth Service (CYS) has served the needs of young people aged 12 - 25 years who live, work, study or socialise in the Town of Cambridge. In this time it has developed a number of innovative programs that have been emulated by other services and is the only neighbourhood youth service of its kind between Fremantle and Wanneroo. CYS is regularly approached by those seeking advice on establishing and delivering benchmark community youth services. Services offered include:

• Number 86 Youth Centre, located 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. There has been a steady rise in attendance at the Youth Centre over the past year. In the six month period from January to June of 2015 the centre recorded 1,352 attendees, compared with 988 for the same period in 2014 (an increase of 37%).

• Professional Youth Worker Support: Qualified youth workers are available to support 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: Activities and events suited to high school aged young people seeking safe, affordable things to do during school holidays. This year several new activities were introduced including sewing, creative writing and on-line publishing workshops, along with ever-popular arts and craft sessions, cooking, barista training and outings.

• In-Term Activities: Includes active or educational outings, cooking, arts and craft, music and other youth culture events such as Open Mic Nights for young musicians and performers.

• External Programs: Includes in-school presentations and activities, youth festivals and other events.

• Cambridge Youth Network: A youth-led network of young people who have a pivotal role in developing and delivering many of the activities and opportunities available at CYS. In 2014/2015 the structure of the network was redeveloped using a more open model that allows young people to fit their participation to their availability and interests. Specific initiatives in 2014/2015 included Exposure Youth Music Festival, Halloween and the Young Writers Competition.

During the 2014/2015 year, in addition to regular in-term and holiday activities, Open Mic Nights and other events, there were a number of new initiatives and special projects:

Expansion of Perry Lakes Skate Park - Stage 1 of the expansion of Perry Lakes Skate Park and Outdoor Basketball Court was completed in late June 2015. This marked the completion of 3 years of planning which involved extensive consultation, developing concept plans, securing funding, and finally constructing the new facilities. The expanded skate park provides a variety of skate elements for a range of abilities and the inclusion of an outdoor basketball court creates an exciting youth space. The total cost of Stage 1 was approximately $401,000 with grants of $230,000 from Lotterywest and $19,000 from the Department of Sport and Recreation (for the basketball court) offsetting the Town’s contribution of $152,000.


Cambridge Street Festival - With the support of the CYN, Cambridge Youth Service hosted a buskers stage and information tent at the inaugural Cambridge Street Festival in March 2015. These initiatives attracted a lot of interest from both young people and adults alike. The presentation of alcohol awareness activities was especially well patronised.

Suicide Prevention Project - Cambridge Youth Service submitted a successful application to the Ministerial Council for Suicide Prevention and was awarded $10,000 to facilitate a series of community training workshops. These workshops will offer training to young people, youth and community leaders, and professional and semi-professional people working with youth to respond effectively to suicidal young people. Interest in the project has been high from all the target groups. The workshops will be implemented in the second half of 2015.

Leadership Training Camp - In April 2015 CYN members participated in a Leadership Training Camp at Dwellingup, with profound knock-on effects for participants. Young people and volunteers all reported that the experience had important repercussions for their personal development, understanding of others, team skills and self-confidence.

BOLD PARK AQUATIC CENTREBold Park Aquatic Centre, situated in a natural bush-land setting, caters for swimmers and families looking to enjoy a leisurely swim, undertake swimming lessons or participate in fitness training. Plans to redevelop the facilities meant that the centre was only open for 9 weeks from 1 July 2014, closing its doors on 7 September 2014.

At the end of June 2015, work on the new aquatic centre facilities was on track for the predicted October 2015 opening. During the closure period, all permanent employees at Bold Park Aquatic Centre were redeployed to other departments within the Town.

COMMUNITY FACILITIESThe Boulevard Centre

The Boulevard Centre, located below Cambridge Library in the heart of Floreat, is a multi-purpose function facility available for hire for corporate training seminars, community events, group meetings and private functions.

Through 2014-2015, business at The Boulevard Centre remained steady. User groups consisted of non-profit and Government funded agencies (54%), state and federal government departments (14%) and commercial business or private hirers (32%). The centre hosted a total of 971 events with total patronage reaching 33,925 visitors, an increase of 4% on the previous year.

Over the past 12 months the Town has invested in a number of advanced technologies within the building. These include new audio visual systems, digital signage, wireless internet services and an automatic door for the disabled amenities. These upgrades enhance the venues capabilities and services, making it competitive with similar venues and ensuring its future viability. The Town also completed the fit-out of LED lighting by replacing some 150 incandescent down lights, further reducing the centre’s carbon foot print.

The Town’s Art Development program, where local artists apply to display their works at The Boulevard Centre gallery for a period of 2 months, has been extremely popular with many artists selling works.

Wembley Community Centre

Wembley Community Centre is the home of the Town’s Senior Services Program and is heavily used by local community groups in the evenings and on weekends. The regular customer base has been consistent for many years with some hirers using the centre for more than two decades. Patronage for the past year was mainly from non-profit organisations (88%) and commercial hirers (12%), virtually the same as last year.

A number of facility upgrades were undertaken to ensure that safety and comfort remains a priority at the centre. This included new LED car park lights and re-paving areas of the car park to remove uneven surfaces and trip hazards.

Leederville Town Hall

The Leederville Town Hall is one of the Town’s oldest venues and continues to be well used by a variety of hirers. This year being the 100th Anniversary of the Gallipoli landing the Town partnered with the RSL to conduct a week long exhibition of local and military artefacts and memorabilia. The exhibition was officially opened by Mayor Withers at the conclusion of the Anzac Day memorial service and featured commemorative banners of local soldiers who gave the ultimate sacrifice.

Although there were no major building works carried out at the Leederville Town Hall in 2014/2015, the Town did complete a substantial termite treatment and upgraded the building security.


The Quarry Amphitheatre

Owned and managed by the Town of Cambridge, the Quarry Amphitheatre is regarded as one of Perth’s premier outdoor venues. Following the replacement of the stage in 2013, the upgrading of mains power infrastructure and the installation of new theatre lighting was completed in September 2014. These upgrades have significantly enhanced the venues production capability.

The 2014-2015 performance season was very successful, with the venue accommodating 71 concert events and 10 private weddings. This represents an increase in total bookings of 10.5% from the previous performance season. Production highlights included the West Australian Ballet Perth International Arts Festival performance, The Eurogliders, the WA Youth Jazz Orchestra, Matt Gresham and The Seals.

Cambridge Library

2014/2015 was a year of consolidation and expansion of programs for the Cambridge Library. An 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.

Service Development

As well as the traditional literary based usage of the library, a number of community driven programs facilitated by volunteers were also provided, including;

• English conversation;

• Genealogy;

• Bilingual Japanese storytime;

• Chess;

• Mahjong;

• Watercolour painting; and

• Makerspace

The continued partnerships with volunteer groups has expanded throughout the year with assistance given to low income earners, pensioners and those in need of help with their English literacy skills, Justices of the Peace, Read Write Now, Taxhelp and free hearing tests.

Digital Services

The one-on-one computer classes have continued to be very popular and were restructured so more patrons could be assisted. The new structure offers two personal IT classes with the digital services team at a cost of $10 per session. The patron is then paired with a volunteer for a further four free sessions. This has been very successful with many of the older community members who struggle with new technologies, becoming adept at using digital services.


Early Literacy

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

• New Mum’s talks at the Wembley Health 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 annual statistics are outlined below:

• Library visitors 364,515 (3% increase)

• New members 2,538 (2.2%increase)

• Items loaned 310,850 (1.4% increase)

• Enquiries 39,180 (25% increase)

• Online catalogue searches 201,986 (3% increase)

• Library website visits 320,903 (2.4%increase)

WEMBLEY GOLF COURSE

During the reporting period the Swing Driving Range continued to perform well and for the first time over 10 million balls were hit for the year. This is a significant milestone for the Swing Driving Range. Rounds played remained steady at 152,000, but there was growth in retail and teaching revenue.

The Gallus Golf Mobile App continues to be a great success with 5,200 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 EZ-GO carts with GPS provide details of each golf hole and other great features that customers have found to be of great benefit. Wembley Golf Course was the first golf course in Perth to provide this service to customers.

Wembley Golf Course was the first course in Australia to offer FootGolf, and since the launch in July 2014 over 2,800 rounds have been played. Importantly, FootGolf has attracted new customers to Wembley Golf Course.

A revamped junior program was launched in January 2015 and the golf course now has over 85 juniors either participating in either the MyGolf or RGX streams.

After detailed planning and analysis the Wembley Golf Course Hospitality development was approved by Council and works commenced in June 2015. This exciting project will see a new 200 seat function room, bar and bistro, change rooms and practice facilities completed by mid 2016. Further works including an 18 hole miniature golf course, playground and changes to the Tuart Course were presented to Council in July 2015 for approval.

Environmental

Wembley Golf Course was recognised for its work in water management, with gold status in the Waterwise golf program given to the golf course in May 2013. The golf course continues to maintain their gold status, and the annual independent audit of the Environmental Management System (EMS) returned a 97% compliance rate.

The annual tree planting program continued with over 100 native trees being planted in non-play areas. In the past 13 years over 11,000 native trees have been planted.

As part of the tree management program, ongoing annual airborne multispectral imagery is used to monitor annual changes in canopy and condition of vegetation, and efficiency of treatment programs.


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 2014/2015Throughout 2014/15, a number of major steps were taken to develop and implement strategic planning projects and Town Planning Scheme amendments in order to facilitate new development and housing options for the Town.

Streetscape PolicyIn August 2014, the Town’s revised Streetscape Policy was adopted by Council. The review of this Policy aimed to encourage more green and open streetscapes whilst preventing streets from being dominated by solid fences, hardstand or other structures. Following the introduction of a number of new streetscape requirements in late 2013, further changes to the Policy included new specifications for crossovers and driveways and reductions to primary street (front) setbacks for houses in Floreat and City Beach. The setback reductions were offered as an offset for the additional requirements for front yards to be more open and green. The revised Policy has proved effective in clarifying the Town’s objectives and requirements for development in setback areas.

Housing Options and Scheme Amendment 31In recent years the Town has undertaken a Housing Options Study to identify a range of different housing options to provide for changing demographics and housing choice, which could fit within existing suburban streetscapes and maintain the existing character of the Town’s suburbs. The Town received a Commendation for the Housing Options Study at the 2014 Planning Institute of Australia State Awards for Planning Excellence for this work.

Scheme Amendment 31 was then prepared to implement a number of housing typologies in City Beach, Mt Claremont and Floreat including grouped dwellings on corner lots, manor houses (small apartments which are designed to look like a single house) and Cambridge Street Apartments. To ensure the Town retained a high level of control over the design of the new housing options, a new approach of introducing Additional Uses with specific, non-discretionary development requirements under the Town Planning Scheme, as opposed to blanket coding changes, was taken.

Following public advertising from March to May 2015, 2500 submissions were received and a number of concerns were raised with the proposals. Subsequently, modifications have been recommended and the Scheme Amendment is due to be considered at a special meeting of Council on 1 July 2015.

Centre PlansThe Town, in conjunction with planning and urban design consultants RPS Group, held workshops with community members and stakeholders in July and August 2014 to give direction to the preparation of centre plans for Wembley Town Centre and Floreat (Forum) District Centre. All workshops were very productive and well attended. Twelve scenarios for each centre were developed with the participants. A draft Centre Plan for the Wembley Town Centre was adopted by Council and advertised over March and April 2015.

Key elements of the plan included residential identification of two landmark development sites as well as focusing higher density development along Salvado Road. It is expected that the outcomes of advertising and the Centre Plan will be presented to Council for determination in coming months. The plan will set the framework for review of the Wembley Precinct Policy and the Town Planning Scheme. A decision is yet to be made to determine how planning should progress for the Floreat (Forum) District Centre, given there was limited support at the Floreat workshop for further development intensification of this location.

Development and Sustainability

IANBIGNELL

29Development and Sustainability

Old Nursery Site (Parkside Walk)A number of significant milestones were reached in the planning for development of the Former Nursery Site on Salvado Road, Jolimont which has been named “Parkside Walk” by developer Landcorp. In August 2014, Scheme Amendment 26 was gazetted which zoned the site Residential with a Special Control Area.

An Outline Development Plan was subsequently prepared and advertised in November and endorsed by Council in December 2014. It is expected that a decision on the Outline Development Plan and subdivision plan will be made by the Western Australian Planning Commission early in the next financial year. Design guidelines are currently being prepared by Landcorp and CODA, with input from the Town, and are expected to be publicly advertised in coming months with development commencing in the following year.

West Leederville Precinct PolicyIn recent times the Town has received a number of major development applications for mixed use and multiple dwelling proposals in the West Leederville Activity Centre. While the changes to the West Leederville Precinct Policy, made following the completion the Centre Plan, have been generally effective in delivering active streetscapes and new dwellings, issues have emerged relating to the interface of buildings adjoining existing lower density residential areas.

In response, a new ‘Residential Interface Node’ was introduced into the West Leederville Precinct Policy in February 2015 to provide a greater level of control over development where buildings in the West Leederville Activity Centre abut lower density residential areas.

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

• Scheme Amendment 28 was gazetted in May 2015 which included an Additional Use for a local café for No. 58 St Leonard’s Avenue, West Leederville (Piccolo’s Café).

• Scheme Amendment 29 was approved by Council in April 2015 to introduce an Additional Use for Consulting Rooms (Group) at No. 210 Cambridge Street, Wembley. The Scheme Amendment is now awaiting final determination by the WAPC and Minister for Planning.

• Scheme Amendment 30 was initiated by Council in February 2015 to introduce an Additional Use for Hospital - Special Purposes at No.61-69 Cambridge Street, West Leederville (Abbotsford Private Hospital) and subsequently advertised in May and June. It is expected that the Scheme Amendment will be presented to Council in July 2015 for final approval.

Statutory PlanningDevelopment Approvals

All development applications are assessed under the provisions of Town Planning Scheme No. 1 and associated policies. During the year, 580 development applications worth an estimated $310 million were received for residential, mixed use, commercial and Development Assessment Panel applications. The following table provides an analysis of more complex applications received by the Town this financial year including grouped residential dwellings, medical, commercial and Development Assessment Panel developments.

No. of Applications

Description EstimatedDevelopmentCost

11 DAP applications $166,384,000

13 storey apartment block

$2,400,000

119 x two storey grouped dwellings

$4,800,000

1 4 storey medical centre $7,000,000

16 storey mixed use (commercial/residential)

$6,999,000

1Additions and alterations to commercial centre

$2,135,000

The Town also processed nine Fast Track planning applications which require approval within five business days (i.e. from the date of receipt of the application until the date of approval).

Cambridge received 26 subdivision referrals from the Western Australian Planning Commission for both green title and 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 390 Certified Permits, 243 Uncertified Permits, 74 Demolition Permits, 13 Building Approval Certificates, 2 Building Approval Certificates (Strata) and 25 Occupancy Permits and 8 Occupancy Permit (Strata) applications during the financial year. Certified and Uncertified building permit applications received during the year were assessed for Town Planning Scheme compliance.

Compliance ServicesA total of 1668 compliance related matters inclusive of inspections and complaints were followed up and investigated by Compliance Officers during the financial year of 2014-2015. Those matters related to a wide range of planning, building, construction and local law compliance matters. A breakdown of the unit’s activities is listed below.

Planning - Front Fences

14 Front fence compliance issues were investigated and 3 notices issued.

Planning - Other

A total of 148 other planning matters were investigated (ie. No development approval, non-compliance with development approval, home occupations, signs). 34 requests to comply, inclusive of notices, were issued during 2014/2015. Three planning infringements were issued.

Building

Eighty building related matters (unauthorised work, other land adversely affected, damage by builders, dangerous walls) were investigated; 19 Building Orders were issued along with 48 requests to comply.

Verges

A total of 24 verge investigations (unsafe verge, non-compliance with policy) were completed and one Local Government Act notice was issued.

Infrastructure (verge development, crossover)

There were 30 infrastructure issues raised and two notices issued. 64 verge storage permits were issued during this period.


Construction Sites

A total of 225 construction sites where investigated for a range of issues (unauthorised use, storage of materials/bins on verge, dust and noise). Six notices were issued.

Private property

There were 236 other investigations relating to private property (stormwater or pool water discharge, sand drift, disused materials, unsightly land). Ten notices were issued.

Private Swimming Pools and Verge Applications

The Compliance unit also undertook follow up inspections of 869 private swimming pools for compliance with pool fencing standards, during the year 2014/2015. A total of 11 infringements were issued for non-compliant swimming pool enclosures.

Environmental Health Services

The role of Environmental Health Services is to promote the health, comfort, safety and amenity of the community by providing for the physical, mental and social well-being of the Town’s residents and visitors. The Town’s Environmental Health Officers (EHO’s) undertake routine and proactive initiatives to ensure that 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 request health investigations that we experience a high standard of public health.

In accordance with the Town’s Service Delivery Plan, Environmental Health Services have continued to monitor their effectiveness in their key activities (KEI’s) against agreed objectives. The Effectiveness Indicator parameters are based on Department of Health standards, or agreed response times based on the Town’s Customer Service Charter.

Results for 2014/2015 indicate that most of the KEI targets were achieved and demonstrates the commitment of the Town’s Environmental Health Officers.

The following tabulates those results:

Key Effectiveness Indicator(per quarter)

KEI Target Actual Q1 Actual Q2 Actual Q3 Actual Q4

111 food premises inspections

100% inspections conducted to required.

117% Performed 130 food premises inspections

42% 73% 78%

Public pool samples - varies each month due to winter closures

100% pools sampled to required

100% 100% 100% 100%

As shown above the shortfalls in targets relate to the inspection of food premises, which is attributed to staff changes.

Infectious Diseases

The Town’s Environmental Health Officers are no longer required to investigate Infectious Diseases notifications due to sophisticated clinical analysis techniques used by the Department of Health. However, EHOs may investigate cases on behalf of the Department, but none were received this financial year.

Food Complaints and Food Sampling

Environmental Health Officers dealt with 32 complaints alleging substandard 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 following tabulates food samples taken during the year by Environmental Health Officers:

Analysis No. Sampled Substandard

Chemical 9 0

Microbiological 21 0

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. The aims of the FMG are to:

• promote a high level of co-operation between the member Councils;

• ensure food standards are being maintained by undertaking regular co-ordinated sampling surveys; and

• undertake a uniform and consistent approach to enforcement of relevant legislation.


Food Premises and Stall Holder’s Permits

338 routine inspections of food premises in the Town were undertaken in the year to ensure compliance with general hygiene and food handling practices.

EHOs continued to liaise with the promoters of sporting and other large community events to maintain acceptable standards for food safety and hygiene. A total of 134 stall holder permits were issued during the period. Inspections of food stalls and food vans were undertaken to ensure compliance with the relevant legislation at the following events:

Event Name Month / Year No of food stall permits issued

City to Surf August 2014 12 permits

Al's Poker Run January 2015 9 permits

Cambridge Street Festival

March 2015 7 permits

General complaints

96 general health or environmental complaints were received and investigated by Environmental Health Officers.

Noise Control and Environmental Protection

A total of 85 environmental or domestic noise related complaints were received during the year. The major sources of complaints were:

• construction site noise: 18

• radio noise from construction sites: 3

• radios, stereos/household parties: 2

• domestic air conditioning systems: 3

• swimming pool pumps: 2

• musical instruments/band: 3

• shops and commercial activities: 7

• bird noise: 2

• alarms: 3

• specified equipment: 2

• misc: 1

• source not recorded: 39

Environmental Health Officers conducted investigations of the above complaints, which included measuring sound levels of equipment in the cases of air conditioning units. Written and verbal instructions were issued to resolve noise complaints.

Effluent Disposal Systems

Seven applications for new septic tank effluent disposal systems, one application for a grey water system and one application for an Aerobic Treatment Unit were approved in the year.

Health Promotion, FoodSafe ® and I’M Alert Food Safety Training Program

Health 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 to have an approved Food Safety Plan in place. The definition of ‘vulnerable persons’ is defined in the Food Act 2008, but predominately encompasses businesses serving food to residents at hospitals, aged care facilities and child care centres. EHOs have worked closely with the following businesses, which have all now passed the Town’s verification requirements for their Food Safety Plans.

Villa Pellettier (Southern Cross)

Abbotsford Hospital

Kimberley Nursing Home

Mulberry Child Care Centre

Great Beginnings Childcare

Koh – I – Noor Nursing Home

West Leederville School of Early Learning

St John of God Hospital Kitchen

The Marian Centre

Catherine McAulay Child Care

Catherine McAulay Aged Care

Mercy Community Services

Davis House Respite Centre

Jelly Beans Child Care Centre

Immunisation

Influenza vaccinations for Town of Cambridge employees were conducted through the new LGIS Health and Wellbeing program and provided by Spot screen. This year, 73 Council employees were immunised through the staff influenza vaccination program.

Rodent Control

285 packets of free rodent bait were issued to residents by Customer Service Officers. EHOs continued to inspect and provide advice to the community as well as delivering baits to aged or incapacitated householders experiencing rodent problems.

Midge Control

There were nine recorded complaints regarding midge nuisance in the Lake Monger Reserve from January to March 2015.

The relatively few complaints received by the Town over the last ten years represents considerable improvement in water quality in the lake from that of the 1990’s, thus proving the success of Council’s long-term strategy for the on-going rehabilitation of Lake Monger. This strategy includes removing exotic fringing vegetation, re-planting native plants, and directing stormwater drainage through channels lined with vegetation, thus reducing the frequency of algal blooms in the lake and the size of midge emergences.

Public Swimming Pools and Ocean Water Sampling

81 samples of water from ten public and institutional swimming pools located within the Town were analysed for microbiological & chemical water quality assessment. Bold Park Aquatic Centre closed for redevelopment in September 2014 and a new swimming pool at 110 Cambridge Street was sampled for the first time in June 2015. Five pools were not sampled during winter months due to closures. When microbiological or chemical samples were found to be substandard, corrective action was undertaken immediately by the swimming pool managers, and all follow-up samples were found to comply with the required standards.


In addition, in partnership with the Department of Health, routine sampling of ocean water at Floreat and City beaches continued during the summer months. 36 samples were submitted for analysis by the Town, and all were found to comply with the microbiological requirements for recreational waters.

Public Building Inspections

In 2014/2015, 30 public buildings within the Town 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.

RANGER SERVICES

The 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.

Parking

Parking control and enforcement activities continues to be the major operational activity for Ranger Services personnel. Rangers also monitor parking compliance during major events in the Town and during events at Subiaco Oval.

The following table provides statistical information about parking control activities during 2014/2015 and comparative information from the preceding period:

2011

/201

2

2012

/201

3

2013

/201

4

2014

/201

5

Parking infringements issued 9,543 9,940 7,011 8,826

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

Parking infringement appeals 1,019 1,225 839 1,111

Parking infringements withdrawn 650 734 469 623

West Leederville Parking Scheme

Parking restrictions imposed for residential streets in West Leederville and Wembley during events at Subiaco Oval have continued, and have been extended to ensure that most residents have access to kerbside parking.

Extensions to restricted parking areas appear to have been accepted and understood by the majority of residents, who are exempted from timed parking restrictions by the issue of residential and visitor parking permits.

Residential Parking Permits

Information about the Residential Parking Permit system is provided to residents in areas where new restrictions were introduced, in addition to the annual reminder to residents in areas where restrictions already exist. Ranger Services continue their important role in the implementation and control of parking restrictions and continue efforts to educate residents and other community members.

As at 30 June 2015, 1155 Residential Parking Permit applications had been processed.

Residents having functions on private property were given temporary parking permits for their visitors. In some cases where a wake or funeral service was held, parking restrictions were temporarily relaxed to cater for those wishing to pay their respects when attending the relevant residential property.

Parking Ticket Machines

Ticket machines are located in Oxford Close, Harrogate Street, Railway Parade, McCourt Street, Cambridge Street, Station Street, Railway Parade and the West Leederville Town Hall to manage timed parking and to ensure a turnover of parking spaces to meet demand.

The newly installed ticket machines in Railway Parade, Southport, Cambridge, Station, Joseph and Alexander streets have continued to operate successfully.

School Parking

Rangers continued to monitor parking at schools, with particular emphasis on child safety at drop off and pick up times. Many warnings were given to motorists for parking unlawfully around schools as Rangers attempted to educate them and encourage safe parking practices. Rangers are also working with school representatives to develop strategies which encourage approved parents and staff to assist with parking arrangements during pick up and drop off times.

Parking Agreements

The Town continued various agreements whereby Rangers enforce the Parking Local Law at private parking facilities. At present, Ranger Services undertake parking compliance inspections at 144 private car parks as a result of private parking agreements with businesses and residential owners in the Town.

Abandoned vehicles

Rangers attended to 77 reports of abandoned vehicles; of these only nine vehicles had to be towed to the Town’s impound yard and were sold after the respective owners failed to collect the vehicles within 60 days. The remainder of the vehicles were moved by their owners.


Beach Safety

The Town’s beaches provide special focus for Ranger activity, particularly during the summer months when recreational beach use is at its highest. Surf 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. This contract continues to work well.

During the 2014/2015 season, lifeguards and volunteer lifesavers recorded the following incidences:

Preventative actions 11,835

First aid 1,304

Rescues 63

Dog Control

Community education relating to responsible dog ownership continued; pamphlets continued to be distributed with all dog registration renewal 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 currently 2,826 dogs registered with the Town of Cambridge. The following table provides statistical information about dog control activities during 2014/2015:

Dogs impounded 70

Dogs claimed by owners 59

Dogs held for sale 7

Dog attack complaints 29

Nuisance dog complaints 68

Dog wandering reports 148

Dog infringements 54

Dog cautions 406

Cat Control

The requirements of the Cat Act came into effect on 1 November 2013. This legislation required that all cats be registered and that young cats be sterilised prior to registration. There are currently 655 cats registered with the Town of Cambridge. The following table provides statistical information about cat control activities during 2014/2015:

Cats impounded 10

Cat claimed by owners 8

Cat infringements 1

Cat cautions 7

Reptile and Wildlife Control

The Rangers were called to 27 snake sightings at properties within the Town. When caught, the snakes were moved back to their natural habitat. Swans, ducks, and turtles were also captured and returned to the closest lake after they had wandered into residential properties or onto road reserves.

Bush Fire Control

A total of 208 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-complaint were made compliant with the Town’s standards. Five infringements were issued and four properties were cleared by a contractor costing $2,093. The contractor costs are payable by the property owner.

Event Management

The Rangers continued to provide significant assistance to all event organisers. In particular, City to Surf 2014, Netball Country Week and Schools Country Week Athletics all had a significant contribution from the Town’s Rangers where they were involved in assisting in the planning and organisation of those events, arranging and implementing parking management and were on hand to monitor event safety and parking during the events.

Ranger Services were actively involved in a number of committees and events, including:

• Subiaco Oval Operations Committee (traffic management and parking enforcement, covering all events at Subiaco Oval);

• City to Surf committee;

• Associated Catholic Colleges (school sports);

• School Sports WA; and

• Surf Life Saving carnivals at City Beach.

Local Law Enforcement

There were 41 incidents resulting in notices issued for:

• Failure to supply name and residential address to an Authorised Officer on demand (4);

• Unauthorised entry to a fenced or closed local government property (26);

• Failure to comply with a sign erected on a beach (8);

• Behaviour which causes injury, interrupts, disturbs or interferes with enjoyment by other persons (1);

• Use or riding a surfing appliance, or operating a personal water craft or boat in a designated bathing area (1); and

• Launch personal water craft into sea other than from a boat launching ramp (1).


Sustainability Services

In 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.

Sustainability Services works closely with the community including schools, environmental groups and organisations to reach our goals of improving water and energy efficiency, reducing waste, encouraging sustainable transport and looking after our natural environment. The following initiatives support the Town’s goal of creating a community that embraces environmentally responsible practices as stated in the Strategic Community Plan 2013/2023.

Community Initiatives

The popular annual spring and autumn workshops were held at the Town of Cambridge Administration Centre with workshops presented by the teams from Beyond Garden, Birdlife WA and Great Gardens. Topics covered included waterwise gardening suited to local soils and climate and productive gardening. Birdlife WA presented workshops on local birdlife followed by field days where theory was put into practice and shared over a barbecue breakfast.

Sustainability Services participated in the Seniors Expo held at the Wembley Community Centre in October, offering senior residents information on scams and an opportunity to dispose of personal documents safely using the confidential Docu-shred bin. The Docu-shred bin is located at the Wembley Community Centre throughout the year.

As part of the National Garage Sale Trail the Town hosted a community garage sale and picnic at Lake Monger on Saturday, 25 October. Locals browsed sixty 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 and provides an opportunity for local community groups to fundraise.

Sustainability Services ran a recycled decorations stall at the Christmas at Lake Monger event in December. Many stopped by the stall to make an array of items and enjoy the green festive spirit.

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

Partnerships

WESROC

The Town participates in WESROC (Western Suburbs Regional Organisation of Councils) projects and programs such as the Native Plant Subsidy Scheme, encouraging residents to convert their gardens and verges by planting local natives and increasing water efficiency. A Water Forum was hosted providing information on the state of water levels and consumption patterns are Perth and the measures that can be implemented to reduce our impact on water sources.

A Western Suburbs Bird Identification Brochure was developed in conjunction with Birdlife WA to increase awareness of local birds and how they can be attracted to local

gardens. Regional projects also track the movement of feral animals and recommend remedial actions.

WESROC is also responsible for the development and installation of a regional trail network. The Bush to Beach regional trail has been in use since 2013 and the Yange Kep Bidi (trail) is currently being installed, running from Perry Lakes to Lake Monger and connecting various wetlands.

Switch Your Thinking

The Town of Cambridge is a member of the Switch Your Thinking (Syt!) Program. The program is supported by seven other WA metropolitan local governments and helps Councils work with their communities to implement measures that save energy and water resulting in reduced operating costs and greenhouse gas emissions.

Residents and businesses are eligible for discounts on a range of products such as rainwater tanks, pool covers, insulation paint, eco products, energy and water audits and green printing. The Switch Your Thinking rebates are in addition to any state or federal government rebates that residents may be eligible for.

An additional component of the Switch Your Thinking Program is the Switched on Staff program, offered to all staff during spring. The program encourages Town of Cambridge staff to adopt sustainable workplace practices.

The Town also continued to promote the annual Young Inventor of the Year competition to community groups to raise awareness of the value of recycled materials and reducing waste going to landfill. The Cambridge Library and Sustainability Services partnered to offer children an opportunity to create their own library bag out of recycled materials and go in the draw for Syt!’s Young Re-inventor of the Year Award.

The Town sponsored the program with an annual recycled art subscription to cover the cost of materials and a facilitator. The program was offered to families over the school holidays at the library with over twenty participants submitting a photo of their entry.


West Leederville Community Garden

The West Leederville Community Garden was established in June 2007 and is a thriving gardening hub for local residents. The organic garden provides an opportunity for residents to meet new people, grow fresh food in a pesticide and herbicide free environment and be part of an exciting community project. There are garden allotments for rent and also a communal garden space.

The Town partnered with the garden to host a Spade to Table event in October 2014. The event showcased the garden and how far it has come since its inception. There were garden tours, talks, workshops, sustainable stalls, local produce and plenty of family fun and entertainment on offer.

Lake Monger Community Garden

The newly established Lake Monger Community Garden received funding and will be established during the coming years.

Community Groups

The Town works with several community groups which help care for the natural environment. Cambridge Coastcare, Friends of Roscommon Park and Friends of Bold Park perform a vital role in improving and protecting the natural areas where they generously volunteer their time.

Cambridge Coastcare

Cambridge Coastcare has been actively rehabilitating the Cambridge dunes for more than 15 years. Together with their volunteers they have planted more than 2,500 plants this year adjacent to the new City Beach development. They have also planted more than 100,000 plants since inception.

Ivo Davies who is a long-time member of Cambridge Coastcare was selected as the Cambridge Community Volunteer for 2014.

Friends of Bold Park

The Town promotes the Bold Park guided walks through the Cambridge website and assists the group as required.

Friends of Roscommon Park

Friends of Roscommon Park were active again throughout the year, regularly weeding and collecting rubbish around the reserve. An annual planting morning held on Saturday, 6 June saw the group plant around 360 local native seedlings. The ongoing support provided by the group greatly assists in maintaining the biodiversity value of this important piece of remnant bushland.

Waste Management Initiatives

Worm 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 assisting residents to 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 three years and approximately 100 residents have taken advantage of the program, receiving rebates on compost bins and worm farms.

The Town continued to sponsor the Recycling Show performed by the Wembley Theatre Company, designed to teach students about correct recycling practices. The show emphasised that waste can be a resource using clear messages combined with comedy and magicianery. Various

local Primary Schools participated in the initiative combining the performance with a waste free lunch.

Clean-up Australia Day was supported by a number of groups across the Town and the Cambridge Scouts Group continued to assist with keeping the Town clean along the coast during the year.

Sustainable School Program

This year the Town ran a Waste Warriors competition during March inviting schools to register their waste initiatives. Families were also invited to make pledges. Floreat Park Primary was selected as the winning school. They ran various projects to collect waste and ensure recycling, such as incorporating litter pickups in their mentoring program, a recycled sculpture project, composting and waste free lunches. Floreat Park Primary School won a cash prize and the winning family won an Environment House gift voucher.

Energy Efficiency

The Town’s target of improving energy efficiency at council facilities are demonstrated through various projects including the installation of a 30kW photo voltaic solar system at the administration centre, the system was installed in September 2014 and approximately 30 tonnes of carbon emissions were avoided since installation. Nearly 300 lights were replaced with LED lights in the Library and Boulevard Centre increasing the lighting energy efficiency by approximately 80%. LED lighting was installed at Lake Monger. An LED replacement project is planned for the Works Depot in 2015.

The Administration air-conditioning system was replaced, reducing electricity consumption by approximately 30%. An air-curtain was installed as part of the project and approximately 6 tonnes of carbon emissions will be avoided per year.


Electricity consumption and carbon emissions continue to be monitored through the WALGA Greensense Platform. Active monitoring of electricity consumption occurs through the Greensense View dashboard at the administration centre and the Cambridge Library and Boulevard Centre.

Water Efficiency and Quality Monitoring

Water efficiency and conservation has been a focus for the Town, reducing the amount of scheme water and groundwater consumed at our parks, buildings and facilities.

Water consumption at parks and facilities is actively monitored. Ecozoning and hydrozoning practices are implemented across the Town. At facilities, fittings such as timer taps and water efficient shower heads are installed, and facility users are encouraged to report water leaks and reduce the amount of water consumed. The Town received its reindorsement as a Waterwise Council; the Wembley Golf Course has been a Waterwise Golf Course, gold status, since 2014 and the Bold Park Aquatic Centre is one of the few Waterwise Aquatic Centres in the state.

Biodiversity

Biodiversity initiatives in 2014/2015 included Biodiversity Action Plan works, Arbor Day and community plantings, and the Native Plant Subsidy Scheme.

The Town adopted a Biodiversity Action Plan in February 2010. Developed with the assistance of the Perth Biodiversity Project, the plan guides the management of the Town’s natural areas over five years and aims to improve the biodiversity value of these areas. In the past year a program of weed control and revegetation has been undertaken at Roscommon Park, The Quarry Amphitheatre and Templetonia Park. A total of 2800 seedlings were planted.

Arbor Day Planting at Lake Monger Reserve

On Friday, 5 June students from six local schools gathered at Lake Monger Reserve for the Town’s annual Arbor Day event. The Town once again partnered with Cambridge Rotary and Birdlife Western Australia to provide students with a morning of planting and birdlife activities. 245 students planted 245 seedlings along the lake and learnt about local birdlife from Birdlife WA guides. This was followed by a ceremonial tree planting with Cambridge Mayor Simon Withers and a barbecue lunch generously provided by Cambridge Rotary. The participating schools were Bold Park Community School, Holy Spirit Catholic Primary School, City Beach, Lake Monger and West Leederville Primary Schools.

Community Planting at Roscommon Park

Members of the community joined Friends of Roscommon Park to plant local native seedlings at the reserve in early June. The seedlings planted will assist in revegetating the buffer of the reserve, suppressing weeds and improving its biodiversity value.

Native Plant Subsidy Scheme

Town of Cambridge residents were again invited to participate in the popular 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. Over 80% of seedlings were sold, slightly down from previous years where all of stock was purchased. The scheme provides an excellent opportunity for the community to incorporate local native plants into the garden, reducing water use and boosting local biodiversity.

Travel Smart

During the last twelve months the Town’s Travel Smart program has continued to encourage local schools, Cambridge staff and the community to choose sustainable transport options such as walking, cycling, public transport and carpooling.

The program has 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. Participating schools were City Beach, Floreat, Wembley and West Leederville Primary Schools and Bold Park Community School.

Several community initiatives were implemented across the year. A women’s cycling course was held again in May 2015. The popular course aims to boost cycling confidence by improving cycling skills and knowledge. The community was also treated to a nibble and a giggle during Bike Week in March with the Wheelie Funny Bike Comedy show at City Beach. Around 90 people enjoyed the show and a sausage sizzle prepared by Cambridge Rotary.


Infrastructure Services maintain and improve the Town’s infrastructure assets and operate a waste management collection service to meet community needs, in a financially, environmentally and socially responsible manner.

Asset Management

The Town continues to manage its large portfolio of infrastructure and assets to ensure financial sustainability and to meet community expectations, via its Asset Management program and policies. Consistent asset management practices and process were undertaken by adopting National Asset Management System (NAMS) professional practices and following a life cycle approach which included the following activities:

Asset Lifecycle Activities

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 infrastructure, using fair value practices for the following asset classes:

• Roads

• Stormwater

• Kerb

• Footpaths

• Fencing

DisposalRequirements

Definition

Asset Planning

Asset Creation

Operation & Maintenance

Asset Monitoring

Renewal Sustainable Financial Management

Lowest Long Term Costs

Manage Risk Exposure An independent assessment of the infrastructure asset

revaluation has been undertaken by Griffin Valuation Advisory consultants. In their review, they found that both the Gross Current Replacement Costs and Fair Value are consistent with current market and construction rates.

During the revaluation process, condition assessment surveys for the majority of the Town’s infrastructure assets were undertaken. Associated information and data have been input into the asset management software system and a program, based on a whole of life cycle approach for maintaining its key assets in good condition, is progressively being implemented.

It is Council’s intention that its asset management approach will encompass the whole of life principles and sustainability associated with the built environment. 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 installation to Council buildings

• LED lighting installation to parks and recreation areas

• Installation of solar panels to Council owned buildings

Infrastructure

• Irrigation

• External lighting

• Car parks

• Waste water plant

• Bus shelters

CHRISCOLYER

39Infrastructure

Solar panels were installed on the roof at the administration building to help reduce carbon emissions and reliance on mains electricity

LED lighting installation to Lake Monger public footpath area

Building Capital Works Program

The Town has undertaken substantial renewal of its buildings sub-elements and associated infrastructure. It has completed a number of Building Capital Works Projects in 2014-2015 including:

• Replacement air conditioning system - administration building (second stage)

• Replacement fire alarm and EWIS system - administration building

• Replacement of main electrical distribution board - Lake Monger recreation facility

• Replacement windows and frames - YMCC Hockey Pavilion, Alderbury Reserve

• Replacement bowling green lights - Leederville Bowling and Sporting Club

• External brickwork repairs, and rendering to YMCC Hockey Pavilion - Alderbury Reserve

Road works for Safety and Access

Road Work Projects

The total expenditure for improving the road system was $2,642,000. Significant projects included:

• Cambridge Street (Northwood to Holyrood) - completion of the high street project.

• Howtree Place / Oceanic Drive / Brookdale Street - pedestrian crossings and protected right turn arrow for traffic on Oceanic Drive. (Blackspot funded project).

• Howtree Place / The Boulevard - pedestrian crossings and removal of right turn filter (Blackspot funded project).

• The Boulevard / Templetonia Crescent - right turn pocket and median islands.

• The Boulevard / Durston Road - pre-deflections on The Boulevard to reduce speed of vehicles entering the roundabout.

• Durston Road / Empire Avenue - slow point and traffic island to reduce speed of vehicles approaching the T-junction.

• Dodd Street - two speed humps installed adjacent to primary school.

• Crosby Street / Highbury Street - Y-junction converted to a T-junction.

Road Resurfacing

The Town has 172 km of sealed roads that are ideally resurfaced every 20 - 30 years, depending on traffic loading. During 2014/2015, resurfacing of 7.39 km of road was scheduled and the total expenditure was $2,312,000. The major projects were grant funded and were located on Empire Avenue, Selby Street, The Boulevard, Cambridge Street and Elphin Street. All roads, car parks, shared paths and lanes were inspected for condition and the five year asphalt resurfacing program for these assets was updated.

Lanes

Eastlake Lane and Humphreys Lane, located between Grantham Street and Scadden Street, were improved by constructing a pavement, sealing, kerbing and installing drainage. These lanes have some of the steepest grades for lanes in the Town and the sand surface was badly eroded by traffic and stormwater runoff. Final expenditure was $453,000.

Stormwater Drainage

The 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. A five year improvement program commenced in 2011 to address flooding issues that occurred during the intense storm of March 2010. 34 improvement projects were funded this year and were either completed or designed and waiting for construction later in 2015. The major projects were located on Bermondsey Street, Keane Street, Louth Road, Moray Avenue, Railway Parade and Woolwich Street.

A survey of all drainage assets was carried out to accurately locate and document all stormwater infrastructure that has been progressively installed since 1930. This will assist the 10 year CCTV pipe inspection program that the Town commenced in 2009. The CCTV program is useful for locating pipes and pits that are partially blocked by tree roots, underground utilities and other causes that cannot be seen from the surface. The damage is then repaired as part of a drainage rehabilitation program. The total value of all drainage works was $773,000.


Footpaths and Shared Paths

The 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 $1,188,000. A total of 4.8km of old slab footpaths were replaced with concrete paths.

New paths were constructed on Tilton Terrace, Frinton Avenue and Dodd Street. Shared paths (3m wide) were constructed on Kalinda Drive (The Boulevard to Kalari Drive) and Southport Street (Cambridge Street to PTA bus station) with 50% funding from Department of Transport.

Bus Shelters

A new glass and aluminium bus shelter was installed on Cambridge Street near Blencowe Street to complement the Cambridge ‘high street’ project

Engineering Design

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

Activities during the year, to prepare future programs and formulate efficient asset management, included:

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

• 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; and

• Review proposed development plans for land development at the Salvado Road old nursery site and Area G in Mount Claremont.

Examples of some recently completed design projects include the following:

• Salvado Road roundabout at the St John of God Hospital entry - join project with City of Subiaco.

• Oceanic Drive/Brookdale St/Howtree Place (State Blackspot project)

• The Boulevard/Howtree Place (Federal Blackspot project)

• The Boulevard/Templetonia Crescent and The Boulevard/Durston Road intersections

• Crosby Street/Highbury Street

• Pedestrian crossing improvements on Grantham Street between Selby Street and Harborne Street

• Miscellaneous drainage projects across the Town aiming to alleviate localised run-off issues

• Bermondsey Street/Oxford Close drainage design improvements

• Kalinda Drive shared path design - The Boulevard to Marimba Crescent.

• Laneways - Eastlake Lane, Humphreys Lane, Jacobsen Lane and Piper Lane

• Durston Road approach to Empire Avenue

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

• Grantham/Jersey intersection to reduce traffic accidents

• Grantham/Harborne intersection to assist with reduction in traffic accidents

• Underwood/Brookdale/Brockway intersection to improve traffic efficiency and address accident statistics. This is a joint design with City of Nedlands.

41Infrastructure

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 to 50%.

The Maximum Recovery System includes a 120L General Waste Bin (red lid), 360L Sumo Bin (yellow lid) and 240L Green Waste Bin (lime green lid) as the standard collection service; with an option to have two recycling bins (yellow lid) at no charge. Promotion of Maximum Recovery in particular the green waste service has helped to divert an additional 3.2% of waste away from landfill during 2014/2015. Our community now achieves 29.3% recyclable products, 16.9% green waste and 53.8% general waste.

E-Waste Drop-Off Days

In February 2015 the Town hosted an e-waste drop off day which gave over 500 residents the opportunity to recycle unwanted electronic items such as TVs and computers. The Town diverted 15 tonnes of waste from landfill at this event and because of its popularity Council will now host two e-waste drop-off days annually in February and August prior to the bulk verge collection commencement.

Mattress Recycling

Another initiative the Town introduced in 2014/2015 was the on-demand mattress recycling program. This service enables residents to book in a mattress recycling collection from their verge for no charge. In the last year the Town has diverted 777 mattresses from landfill. Mattresses are deconstructed and materials repurposed. Usually the metal components are sold as scrap and the foam turned into carpet underlay. The timber and pocket springs are used to make dog beds. Your old mattress gets a whole new life!

Waste Education Campaign

The Town has continued with the successful Maximum Recovery campaign. This campaign demonstrates our ongoing best practice waste collection system and encourages residents to achieve Maximum Recovery. 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.

Garage Sale Trail

For the first time in 2014 the Town hosted a garage sale hub at Lake Monger as part of the Garage Sale Trail program which is a national initiative to waste less and reuse more. The event held on 25 October 25 had over 60 sales stalls registered on the day and a host of other sustainability themed activities for the family to enjoy. The event was a huge success and will be running again this year.

Bin Tagging Trial Program

In early 2015 some residents may have noticed “Tags” placed on both their waste and recycling bins. These tags were part of a trial project the Town was involved in and were used as an education tool to provide direct feedback on what was in each bin. The aim of the project was to reduce waste to landfill which saves ratepayers money and helps the environment by ensuring the Town is achieving Maximum Recovery.

At the start of the project Cambridge was leading other councils participating in the trial, with 64% of the recycling bins being deemed contaminate free. Over the 8 weeks of the trial there was an 8% increase in perfect recycling bins and a massive 29.3% drop in recyclables found in waste bins.

During the trial the biggest issue identified was recyclables being tied up in plastic bags, resulting in them being treated as landfill. Empty plastic bags belong in the recycling bin but all recyclables must go in the bin loose. Over the program the number of recyclables in plastic bags dropped from 23.2% to 14.1%, a very pleasing result!

At the close of the trial all perfect recyclers went into a draw with 30 Recycling Champions selected to receive a $50 gift voucher for their recycling efforts!


Statistics

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

Budget YearRecycling Collection

(tonnes)Green Waste Collection

(tonnes)General Waste

Collection (tonnes)Total Collection

(tonnes)

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

Change + 77 + 351 - 328 + 70

Infrastructure Parks

Cambridge 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, ensuring a sustainable, safe and enjoyable experience for all visitors.

General Improvements

This year works included:-

• Commencement of upgrading Floreat Beach Park including landscape and boardwalk improvements;

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

• Installation of information signage at Wembley Sports Park;

• Installation of outdoor exercise equipment at Bent Park, City Beach;

• Completion of an Improvement concept Plan for Rutter Park, Wembley estimated at $320,000. Improvements will include new visitor facilities including picnic and barbecue areas and a flying fox/nature playground;

• Rehabilitation of Templetonia Park City Beach including replacement of woody wattle weeds;

• Renovation of the turf playing surface at various sportsgrounds;

• Final stage of checking and auditing external park lights to ensure compliance with safety standards; and

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

100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%

Recycling Green Waste General Waste

2011

29.9%

0.0%

70.1%

2012

28.0%

4.2%

67.8%

2013

11.4%

28.1%

60.5%

Ultimate Target

30.0%

50.0%

20.0%

2014

14.2%

28.8%

57.0%

2015

16.9%

29.3%

53.8%

2010

72.9%

0.0%

27.1%

43Infrastructure

Lake Monger Reserve

This 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 LED security lights on the east side of the lake, with the final stage along Lake Monger Drive programmed in 2015/2016;

• Installation of Interpretive Information Signs;

• Replacement of barbecues in the Dodd Street picnic area;

• 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 UWA 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 two of a six stage program where around 10,000 trees and shrubs were planted; and

• 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 Reserve

This 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 year works included:

• Installation of a barbecue facility at the south east area adjacent to the new playground;

• On-going replacement of non-indigenous trees with indigenous species to improve water quality and biodiversity; and

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

Water Conservation Plan

The Town manages its allocated ground water resource for irrigation in accordance with the Water Conservation Plan. Cambridge Council continued to be a leader in the 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 computer system were replaced to ensure on-going monitoring of the weather and only apply irrigation when turf and plants need it;

• Ecozoning of parks to promote biodiversity and conserve water;

• Servicing and replacement of six 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; and

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

Coastal Natural Areas Management Plan

In accordance with this Plan, rehabilitation works, including removal of woody weeds and planting thousands of tube stock plants, specially grown from local provenance seed collected from the local dunes, were undertaken in the Towns 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.


Street Trees Treescape Plan 2010-2020

Trees 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.

Park Trees and Landscape Improvements

Parks 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 shrub works are undertaken on a day to day basis within the Town’s parks to keep these assets alive, healthy and safe.

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. 2014 saw the completion of year two of the planting programs with a total of 714 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.

20,00018,00016,00014,00012,00010,000

8,0006,0004,0002,000

0

400350300250200150100

50

14,000

Tree numbers prior to commencement of tree

planting programs

347

Number of trees to plant per year

18,500

Tree numbers estimated at completion of

programs in 2024 (12 years)

355

Trees planted in Year 1(2013)

Street trees planting program results/targets

4,500

Proposed increase in tree numbers

359


714

Total trees planted year to date 2015


45Infrastructure

Garden Awards 2014

The 19th annual Garden Awards were held in November 2014. The awards were established in 1996 to recognise front gardens, inclusive of the verge, with 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 within the Council’s Road Verges Landscaping and Maintenance Policy. The judging panel looks for well-maintained verge and private property front gardens, including those that require minimal water use. This year the following gardens were awarded:

Best Residential Front Garden 30 Glengariff Drive, Floreat

Highly Commended Residential Front Garden25 Kenmore Crescent, Floreat

Best Water Wise Front Garden18 Sudbury Way, City Beach

Highly Commended Water Wise Front Garden13 Glengariff Drive, Floreat

Best Commercial/Group Housing Front Garden 1 Cambridge Street, West Leederville

Council wishes to congratulate the above residents and those residents that consistently work hard to maintain their front gardens to a high standard. This work is noticed and appreciated and it’s what makes our Town a pleasure to live in.

A

A

B

C

D

E

B

C

D

E


Statutory Compliance and Civic Responsibilities

Elected Member Conduct

Section 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

There were no major land transactions undertaken during the 2014/2015 financial year.

Exempt Land Transactions

There were no exempt land transactions undertaken during the 2014/2015 financial year.

Statutory ComplianceFreedom 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.

Nine valid Freedom of Information applications were received during the 2014/2015 period. Seven of these applications were finalised during this period. Of the seven requests, four applicants received edited access to documents and two received full access. One applicant was granted viewing access only.

Compliance with the State Records Act

The Town complies with the State Records Act 2000. The Town’s Record Keeping Plan, a requirement of the Act, is in its third version. 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 133,035 documents to the corporate system.

New employees are provided with in-house assistance to ensure they understand their record keeping obligations and responsibilities. Ongoing 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.

National Competition Policy

National 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 Neutrality

This 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.

Wembley Golf Course

SUMMARY 2014/2015

Operational Revenues 7,140,216

Operational Expenses 6,322,093

Notional Return 818,123

Less Advantages (792,983)

Plus Disadvantages 325,623

Estimated Return 350,763

Local Laws

The Local Government Act 1995 requires all of the Town’s Local Laws be reviewed every eightyears. 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.


Employees Remuneration

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

Salary Range 30 June 30 June 2014 2015

$100,000 - $109,999 9 7

$110,000 - $119,999 3 5

$150,000 - $159,999 5 1

$160,000 - $169,999 - 4

$210,000 - $219,999 1 -

$230,000 - $239,999 - 1


22 SQUARE KILOMETRESAREA

2 WEMBLEYAND COAST

NUMBER OF WARDS

8 COUNCILLORS

1 MAYORNUMBER OF

ELECTED MEMBERS

1994ESTABLISHED 1 JULY

28,400 ABS ERP 2014

POPULATION

October 2015Elections

17,856NUMBER OF ELECTORS

30 June 2015

11,249RATEABLE PROPERTIES

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 8 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 27,244 (ABS ERP 2012). 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

About our logo

49About out town

195 NUMBER OF EMPLOYEES30 JUNE 2015

10CITY BEACH, FLOREAT, WEMBLEY, WEST LEEDERVILLE, AND PARTS OF JOLIMONT, MOUNT CLAREMONT, SUBIACO, SHENTON PARK, DAGLISH AND WEMBLEY DOWNS

SUBURBS AND LOCALITIES

5 CITIES OF VINCENT, STIRLING, PERTH, NEDLANDS AND SUBIACOBOUNDARIES

8KMDISTANCE

FROM PERTHWEST OF THE PERTH GPO

194KILOMETRES

LENGTH OF SEALED ROADS

4.5KILOMETRES

BEACHES AND COASTAL DUNES

OPERATING REVENUE$45,197,000

2014/2015 actual

COMMERCIAL SHOPPING AREAS, MEDICAL SERVICES

LOCALINDUSTRY

LAKE MONGER, PERRY LAKES, REABOLD HILL, BOLD PARK, CITY BEACH, FLOREAT BEACH, QUARRY AMPHITHEATRE, WEMBLEY GOLF COURSE (36 HOLES); BOLD PARK AQUATIC CENTRE, PERRY LAKES SKATE PARK

TOURIST ATTRACTIONS

474HECTARES

AREA OF PARKS, GARDENS AND RESERVES

RATE REVENUE2014/2015

actual

$22,195,000

OPERATING EXPENDITURE

2014/2015 actual

$41,057,000

CAPITAL EXPENDITURE

2014/2015 actual

$26,202,000

51Financial Report

Annual FinancialReportFOR THE YEAR ENDED 30 JUNE 2015

Page

Statement by Chief Executive Officer 52

Independent Auditor’s Report 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:

Note 1: Significant Accounting Policies 61

Note 2: Component Functions/Activities 72

Note 3: Assets Classified by Function and Activity 73

Note 4: Depreciation 73

Note 5: Conditions over Contributions 74

Note 6: Trade and Other Receivables 74

Note 7: Other Assets 74

Note 8: Inventories 74

Note 9: Cash and Cash Equivalents 75

Note 10: Trade and Other Payables 76

Note 11: Provisions 76

Note 12: Borrowings 77

Note 13: Property, Plant and Equipment, Infrastructure Assets 80

Note 14: Reserves and Cambridge Endowment Lands Account 84

Note 15: Asset Revaluation Surplus 86

Note 16: Notes to the Statement of Cash Flows 87

Note 17: Superannuation 88

Note 18: Contingent Liabilities 88

Note 19: Capital and Leasing Commitments 89

Note 20: Fees and Charges Program 89

Note 21: Grants, Subsidies and Contributions 90

Note 22: Disposal of Assets and Land Held for Resale 91

Note 23: Statement of Rating Information 92

Note 24: Trust Funds 92

Note 25: Employee Numbers 93

Note 26: Members of Council Remuneration 93

Note 27: Subsequent Events 93

Note 28: Major Land Transactions 94

Note 29: Major Trading Undertaking 96

Note 30: Other Financial Assets 97

Note 31: Investment in Regional Councils - Joint Venture 98

Note 32: Budget Comparison - Non-operating 100

Note 33: Economic Dependency 100

Note 34: Financial Risk Management 100

Note 35: Auditors Remuneration 103

Note 36: Financial Ratios of Accounts 104


STAT

EMEN

T BY

CH

IEF

EXEC

UTI

VE O

FFIC

ER

The

att

ache

d fi

nanc

ial r

epor

t of t

he T

own

of C

ambr

idge

, bei

ng th

e an

nual

fi

nanc

ial

repo

rt a

nd s

uppo

rtin

g no

tes

and

othe

r in

form

atio

n fo

r th

e fi

nanc

ial y

ear

ende

d 3

0 J

une

20

15

, are

, in

my

opin

ion,

pro

perly

dra

wn

up t

o pr

esen

t fa

irly

the

fina

ncia

l pos

itio

n of

the

Tow

n of

Cam

brid

ge a

t 3

0 J

une

20

15

and

the

res

ults

of

its

oper

atio

ns f

or t

he fi

nanc

ial

year

th

en e

nded

in a

ccor

danc

e w

ith

the

Aus

tral

ian

Acc

ount

ing

Stan

dard

s an

d co

mpl

y w

ith

the

prov

isio

ns o

f th

e Lo

cal G

over

nmen

t A

ct 1

99

5 a

nd t

he

regu

lati

ons

unde

r tha

t Act

.

Sign

ed o

n th

e da

te 6

th O

ctob

er 2

01

5

JASO

N B

UCK

LEY

CHIE

F EX

ECU

TIVE

OFF

ICER

53Financial Report

IND

EPEN

DEN

T A

UD

ITO

R’S

REPO

RT

Leve

l 110

King

s Par

k Roa

dW

est P

erth

WA

6005

Corre

spon

denc

e to:

PO B

ox 57

0W

est P

erth

WA

6872

T +6

1 8 94

80 20

00

F +6

1 8 93

22 77

87

E inf

o.wa@

au.gt

.com

W w

ww.gr

antth

ornto

n.com

.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 55

6 389

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

.

Liabil

ity lim

ited b

y a sc

heme

appr

oved

unde

r Pro

fessio

nal S

tanda

rds L

egisl

ation

. Liab

ility i

s lim

ited i

n tho

se S

tates

whe

re a

curre

nt sc

heme

appli

es.

Inde

pend

ent

Aud

itor

’s R

epor

t

To

the

Rat

epay

ers

of T

own

of C

ambr

idge

W

e ha

ve a

udite

d th

e ac

com

pany

ing

finan

cial r

epor

t of T

own

of C

ambr

idge

(the

“To

wn”

), w

hich

com

prise

s the

stat

emen

t of f

inan

cial p

ositi

on as

at 3

0 Ju

ne 2

015,

and

the

stat

emen

t of

prof

it or

loss

and

oth

er c

ompr

ehen

sive

inco

me

by p

rogr

am, s

tate

men

t of p

rofit

or l

oss a

nd

othe

r com

preh

ensiv

e in

com

e by

nat

ure

or ty

pe, s

tate

men

t of c

hang

es in

equ

ity a

nd

stat

emen

t of c

ash

flow

s for

the

year

then

end

ed, n

otes

com

prisi

ng a

sum

mar

y of

sign

ifica

nt

acco

untin

g po

licies

and

oth

er e

xplan

ator

y in

form

atio

n to

the

finan

cial r

epor

t and

the

stat

emen

t by

the

Chief

Exe

cutiv

e O

ffice

r.

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

the r

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

ai ned

is su

fficie

nt 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

ipr

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

015

and

of it

s per

form

ance

and

cas

h flo

ws f

or th

e ye

ar th

en e

nded

; an

d

iico

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

iiiis

prep

ared

in a

ccor

danc

e w

ith th

e re

quire

men

ts o

f the

Loc

al G

over

nmen

t Act

199

5 Pa

rt 6

(as a

men

ded)

and

Reg

ulat

ions

und

er th

at A

ct.

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, 6

Oct

ober

201

5


This

Stat

emen

t sho

uld

be re

ad in

con

junc

tion

with

the

acco

mpa

nyin

g no

tes.

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

15

Note

2015

Ac

tual

2015

Bu

dget

2014

Ac

tual

$$

$RE

VENU

EGe

nera

l Pur

pose

Fun

ding

25,

433,

076

24,

628,

800

22,

947,

184

Gove

rnan

ce 1

21,1

79

69,

000

185

,710

La

w, O

rder

and

Pub

lic S

afet

y 1

64,6

28

122

,800

1

80,9

33

Healt

h 7

7,87

0 6

7,00

0 6

8,20

0 Ed

ucat

ion

and

Wel

fare

1,1

00,9

78

1,1

16,5

00

1,0

67,2

90

Com

mun

ity A

men

ities

2,8

17,3

68

2,6

97,0

00

2,7

02,4

98

Recr

eatio

n an

d Cu

lture

9,1

81,7

33

9,1

36,1

00

9,6

43,1

63

Tran

spor

t 2

,148

,117

2

,287

,000

2

,238

,260

Ec

onom

ic Se

rvice

s 5

00,5

44

516

,000

5

83,1

48

Othe

r Pro

perty

and

Ser

vices

220

,529

1

56,4

00

269

,251

4

1,76

6,02

2 4

0,79

6,60

0 3

9,88

5,63

7 Ex

pens

es E

xclu

ding

Fin

ance

Cos

tsGe

nera

l Pur

pose

Fun

ding

575

,735

5

83,0

00

608

,279

Go

vern

ance

1,7

56,7

04

1,6

99,4

00

1,7

39,0

49

Law,

Ord

er a

nd P

ublic

Saf

ety

1,4

35,8

64

1,4

90,3

00

1,4

12,3

62

Healt

h 5

68,0

40

521

,000

4

60,0

29

Educ

atio

n an

d W

elfa

re 1

,723

,323

1

,721

,600

1

,639

,515

Co

mm

unity

Am

enitie

s 5

,884

,899

5

,907

,800

5

,552

,412

Re

crea

tion

and

Cultu

re 1

7,33

4,32

9 1

7,41

8,20

0 1

7,38

4,14

1 Tr

ansp

ort

8,2

21,3

07

8,1

72,5

00

7,4

21,1

02

Econ

omic

Serv

ices

551

,212

6

46,7

00

598

,783

Ot

her P

rope

rty a

nd S

ervic

es 2

,562

,503

2

,534

,800

2

,041

,538

4

0,61

3,91

6 4

0,69

5,30

0 3

8,85

7,21

0 Fi

nanc

e Co

sts

Gove

rnan

ce 3

,400

3

,300

4

,540

Re

crea

tion

and

Cultu

re 4

00,1

65

344

,800

4

28,7

57

Othe

r Pro

perty

and

Ser

vices

39,

420

38,0

00 3

9,10

5 1

2 4

42,9

85

386

,100

4

72,4

02

Oper

atin

g Re

sult

709

,121

(2

84,8

00)

556

,025

Note

2015

Ac

tual

2015

Bu

dget

2014

Ac

tual

$$

$

Gran

ts a

nd S

ubsi

dies

- N

on O

pera

ting

Law,

Ord

er a

nd P

ublic

Saf

ety

1,3

75,0

00

1,9

00,0

00

302

,318

Ed

ucat

ion

and

Wel

fare

6,6

46

14,

500

4,0

32

Com

mun

ity A

men

ities

562

,572

4

80,0

00

152

,314

Re

crea

tion

and

Cultu

re 3

74,0

90

559

,500

1

,097

,212

Tr

ansp

ort

1,1

13,0

13

1,2

05,8

00

724

,238

2

1 3

,431

,321

4

,159

,800

2

,280

,114

Fair

Valu

e Ad

just

men

ts to

Fin

anci

alAs

sets

at f

air v

alue

thro

ugh

profi

t or l

oss

Gene

ral P

urpo

se F

undi

ng 8

8,72

0 -

(1

84,5

31)

88,

720

-

(184

,531

)Di

spos

al o

f Ass

ets

Gain

on

Disp

osal

of A

sset

s 6

,261

,980

8

,553

,500

1

9,55

5,96

5 Lo

ss o

n Di

spos

al of

Ass

ets

(1,0

54,1

64)

(88,

000)

(892

,191

) 2

2 5

,207

,816

8

,465

,500

1

8,66

3,77

4

Chan

ge in

Equ

ity -

Joi

nt V

entu

res

Othe

r Pro

perty

and

Ser

vices

31

2,6

81,1

47

-

103

,452

Decr

emen

t on

Reva

luat

ion

of A

sset

s 1

3 -

-

(5

75,0

16)

NET

RESU

LT 1

2,11

8,12

5 1

2,37

8,50

0 2

0,84

3,81

8

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 2

2,69

7,76

5 -

7

0,96

4,89

2

TOTA

L CO

MPR

EHEN

SIVE

INCO

ME

34,

815,

890

12,

340,

500

91,

808,

710

55Financial Report

This

Stat

emen

t sho

uld

be re

ad in

con

junc

tion

with

the

acco

mpa

nyin

g no

tes.

STAT

EMEN

T O

F CO

MPR

EHEN

SIVE

INCO

ME

BY N

ATU

RE O

R TY

PEFO

R TH

E YE

AR

END

ED 3

0 JU

NE

2015

Note

2015

Ac

tual

2015

Bu

dget

2014

Ac

tual

$$

$Re

venu

eRa

tes

23 2

2,19

4,67

2 2

2,13

6,00

0 2

1,00

2,31

5 Op

erat

ing

Gran

ts, S

ubsid

ies

and

Cont

ribut

ions

21 3

,371

,207

2

,902

,600

2

,657

,299

Fe

es &

Cha

rges

20 1

3,93

8,79

6 1

3,86

9,70

0 1

4,26

0,77

5 In

tere

st E

arni

ngs

1,6

82,6

82

1,4

42,3

00

1,4

09,1

97

Othe

r Rev

enue

/Inco

me

578

,665

4

46,0

00

556

,051

4

1,76

6,02

2 4

0,79

6,60

0 3

9,88

5,63

7

Expe

nses

Exc

ludi

ng F

inan

ce C

osts

Empl

oyee

Cos

ts 1

6,90

7,45

3 1

7,07

1,40

0 1

6,79

3,37

7 M

ater

ials

& Co

ntra

cts

14,

202,

022

14,

165,

900

12,

947,

845

Utilit

ies

1,4

87,3

58

1,6

15,0

00

1,7

54,7

28

Insu

ranc

e 4

68,3

45

480

,500

4

88,7

92

Othe

r Exp

endi

ture

640

,722

6

64,5

00

371

,761

De

prec

iatio

n on

Non

-cur

rent

Ass

ets

4 6

,908

,016

6

,698

,000

6

,500

,707

4

0,61

3,91

6 4

0,69

5,30

0 3

8,85

7,21

0 Fi

nanc

e Co

sts

Inte

rest

Exp

ense

s12

442

,985

3

86,1

00

472

,402

4

42,9

85

386

,100

4

72,4

02

Oper

atin

g Re

sult

709

,121

(2

84,8

00)

556

,025

Non

Oper

atin

g Gr

ants

, Sub

sidi

es

and

Cont

ribut

ions

21 3

,431

,321

4

,159

,800

2

,280

,114

Fair

Valu

e Ad

just

men

ts to

Fin

anci

al A

sset

s at

fair

valu

e th

roug

h pr

ofit o

r los

s 8

8,72

0 -

(1

84,5

31)

Note

2015

Ac

tual

2015

Bu

dget

2014

Ac

tual

$$

$Di

spos

al o

f Ass

ets

Gain

on

Disp

osal

of A

sset

s 6

,261

,980

8

,553

,500

1

9,55

5,96

5 Lo

ss o

n Di

spos

al of

Ass

ets

(1,0

54,1

64)

(88,

000)

(892

,191

)22

5,2

07,8

16

8,4

65,5

00

18,

663,

774

Chan

ge In

Equ

ity -

Joi

nt V

entu

res

31 2

,681

,147

-

1

03,4

52

Decr

emen

t on

Reva

luat

ion

of A

sset

s13

-

-

(575

,016

)

NET

RESU

LTS

12,

118,

125

12,

340,

500

20,

843,

818

Chan

ges

on re

valu

atio

n of

non

cur

rent

ass

ets

15 2

2,69

7,76

5 -

7

0,96

4,89

2

TOTA

L CO

MPR

EHEN

SIVE

INCO

ME

34,

815,

890

12,

340,

500

91,

808,

710


STAT

EMEN

T O

F FI

NA

NCI

AL

POSI

TIO

NA

S AT

30

June

201

5

Note

2015

Ac

tual

$

2014

Ac

tual

$

CURR

ENT

ASSE

TS

Cash

and

Cas

h Eq

uiva

lent

s9

32,5

44,9

7239

,601

,746

Trad

e an

d Ot

her R

ecei

vabl

es6

1,82

0,94

81,

725,

088

Othe

r7

105,

329

122,

281

Inve

ntor

ies

851

3,29

71,

310,

664

Tota

l Cur

rent

Ass

ets

34,9

84,5

4642

,759

,779

NON-

CURR

ENT

ASSE

TS

Trad

e an

d Ot

her R

ecei

vabl

es6

361,

607

397,

010

Prop

erty,

Plan

t and

Equ

ipm

ent a

nd In

frast

ruct

ure

1328

5,14

3,32

324

4,47

8,81

3

Fina

ncial

Ass

ets

3064

1,70

762

7,24

5

Inve

stm

ents

319,

163,

129

6,59

0,91

9

Tota

l Non

-Cur

rent

Ass

ets

295,

309,

766

252,

093,

987

TOTA

L AS

SETS

330,

294,

312

294,

853,

766

CURR

ENT

LIAB

ILIT

IES

Trad

e an

d Ot

her P

ayab

les

106,

618,

155

4,87

5,44

6

Prov

ision

s Cu

rrent

112,

421,

762

2,42

9,69

3

Borro

wing

s12

590,

485

2,21

0,32

3

Tota

l Cur

rent

Lia

bilit

ies

9,63

0,40

29,

515,

462

Note

2015

Ac

tual

$

2014

Ac

tual

$

NON-

CURR

ENT

LIAB

ILIT

IES

Prov

ision

s No

n-Cu

rrent

1132

1,69

032

7,06

5

Borro

wing

s12

12,6

24,5

1812

,109

,427

Tota

l Non

-Cur

rent

Lia

bilit

ies

12,9

46,2

0812

,436

,492

TOTA

L LI

ABIL

ITIE

S22

,576

,610

21,9

51,9

54

NET

ASSE

TS30

7,71

7,70

227

2,90

1,81

2

EQUI

TY

Reta

ined

Sur

plus

191,

251,

736

170,

276,

406

Rese

rves

- C

ash/

Inve

stm

ent B

acke

d14

22,8

03,3

0931

,660

,514

Reva

luat

ion

Surp

lus

1593

,662

,657

70,9

64,8

92

TOTA

L EQ

UITY

307,

717,

702

272,

901,

812

This

Stat

emen

t sho

uld

be re

ad in

con

junc

tion

with

the

acco

mpa

nyin

g no

tes.

57Financial Report

This

Stat

emen

t sho

uld

be re

ad in

con

junc

tion

with

the

acco

mpa

nyin

g no

tes.

STAT

EMEN

T O

F CH

AN

GES

IN E

QU

ITY

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

Note

Reta

ined

Surp

lus $

Rese

rves

Cash

/ In

vest

men

tBa

cked $

Cam

brid

geEn

dow

men

tLa

nd A

ccou

nt $

Reva

luat

ion

Surp

lus $

Tota

lEq

uity $

Balan

ce a

s at

1 J

uly

2013

166

,981

,726

4

,601

,104

9

,510

,272

-

1

81,0

93,1

02

Net R

esul

t 2

0,84

3,81

8 -

-

-

2

0,84

3,81

8

Tota

l Oth

er C

ompr

ehen

sive

Inco

me

-

-

-

70,

964,

892

70,

964,

892

Tran

sfer

from

/(to)

Res

erve

s/EL

A(1

7,54

9,13

8)(5

59,9

42)

18,

109,

080

-

-

Bala

nce

as a

t 30

June

201

414

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 -

-

-

1

2,11

8,12

5

Tota

l Oth

er C

ompr

ehen

sive

Inco

me

-

-

-

22,

697,

765

22,

697,

765

Tran

sfer

from

/(to)

Res

erve

s/EL

A8,

857,

205

1,72

7,26

3(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


STAT

EMEN

T O

F CA

SH F

LOW

SFO

R TH

E YE

AR

END

ED 3

0 JU

NE

2015

Note

2015

2015

2014

Actu

alBu

dget

Actu

al$

$$

Cash

Flo

ws

From

Ope

ratin

g Ac

tiviti

esRe

ceip

tsRa

tes

22,

214,

872

22,

136,

000

21,

049,

264

Gran

ts a

nd s

ubsid

ies

and

cont

ribut

ions

(ope

ratin

g) 2

,932

,639

2

,514

,000

2

,628

,307

Se

rvice

cha

rges

3,1

18

3,2

00

2,8

33

Fees

and

cha

rges

1

5,94

1,03

9 1

4,43

9,30

0 1

6,65

6,19

2 In

tere

st re

ceive

d 1

,858

,278

1

,509

,000

1

,304

,047

Go

ods

and

Serv

ices

Tax

Refu

nd 2

,330

,156

7

50,0

00

768

,592

Ot

her r

even

ue/in

com

e 6

61,7

94

521

,000

5

56,0

51

45,

941,

896

41,

872,

500

42,

965,

286

Paym

ents

Empl

oyee

exp

ense

s (1

6,71

1,51

2) (1

6,79

9,70

0) (1

6,45

1,22

1)M

ater

ials

and

cont

ract

s (1

6,77

4,20

3) (1

3,60

4,40

0) (1

6,79

3,40

5)Ut

ilitie

s (1

,487

,358

) (2

,385

,600

) (1

,754

,727

)In

sura

nce

(468

,345

) (3

80,6

00)

(405

,697

)In

tere

st P

aid (4

56,1

94)

(469

,800

) (5

41,2

02)

Othe

r exp

endi

ture

(640

,718

) (8

11,0

00)

(371

,761

) (3

6,53

8,33

0) (3

4,45

1,10

0) (3

6,31

8,01

3)

Net C

ash

Prov

ided

By

Oper

atin

g Ac

tiviti

es16

9,4

03,5

66

7,4

21,4

00

6,6

47,2

73

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

3,4

31,3

21

4,1

59,8

00

3,3

74,1

82

Repa

ymen

t of i

nves

tmen

ts fr

om Ta

mala

Par

k 2

,583

,334

-

8

33,3

32

Proc

eeds

from

Inve

stm

ents

Mat

ured

74,

258

-

88,

391

Sale

of l

and

4,6

55,3

68

11,

646,

000

22,

140,

170

Sale

of e

xter

nal p

lant a

nd e

quip

men

t 2

92,5

78

133

,500

3

63,4

52

11,

036,

859

15,

939,

300

26,

799,

527

Note

2015

2015

2014

Actu

alBu

dget

Actu

al$

$$

Paym

ents

Purc

hase

of I

nves

tmen

t (2

1,06

3) -

(1

9,85

1)Pu

rcha

se o

f Inf

rast

ruct

ure

Asse

ts (6

,099

,029

) (1

5,83

8,30

0) (7

,281

,488

)Pu

rcha

se o

f Lan

d an

d Bu

ildin

gs (9

62,1

62)

(28,

036,

500)

(1,0

88,6

65)

Purc

hase

of O

ffice

Fur

nitu

re a

nd E

quip

men

t (6

43,7

33)

(1,4

89,5

00)

(1,1

39,1

78)

Purc

hase

of E

xter

nal P

lant a

nd E

quip

men

t (6

37,1

07)

(937

,000

) (6

76,3

99)

Purc

hase

of L

and

Held

for R

esale

(26,

135)

-

(215

,075

)W

ork

in p

rogr

ess

13 (1

7,87

0,41

9) (7

00,0

00)

(5,0

66,7

99)

(26,

259,

648)

(47,

001,

300)

(15,

487,

455)

Net C

ash

from

/(us

ed in

) Inv

estin

g Ac

tiviti

es (1

5,22

2,78

9) (3

1,06

2,00

0) 1

1,31

2,07

2

Rece

ipts

Proc

eeds

from

bor

rowi

ng 3

4,17

7 5

5,00

0 6

39,1

05

Incr

ease

/(Dec

reas

e) in

Dep

osits

and

Bon

ds (1

32,8

03)

(100

,000

) (6

7,20

0) (9

8,62

6) (4

5,00

0) 5

71,9

05

Paym

ents

Repa

ymen

t of b

orro

wing

s (1

,138

,925

) (1

,153

,900

) (3

82,3

98)

(1,1

38,9

25)

(1,1

53,9

00)

(382

,398

)

Net C

ash

from

/(us

ed in

) Fin

anci

ng

Activ

ities

(1,2

37,5

51)

(1,1

98,9

00)

189

,507

Net I

ncre

ase/

(Dec

reas

e) in

Cas

h He

ld (7

,056

,774

) (2

4,83

9,50

0) 1

8,14

8,85

2

Cash

and

cas

h eq

uiva

lent

s at

the

Begi

nnin

g of

the

Year

39,

601,

746

37,

033,

000

21,

452,

894

Cash

and

cas

h eq

uiva

lent

s at

the

End

of th

e Ye

ar16

32,

544,

972

12,

193,

500

39,

601,

746

This

Stat

emen

t sho

uld

be re

ad in

con

junc

tion

with

the

acco

mpa

nyin

g no

tes.

59Financial Report

This

Stat

emen

t sho

uld

be re

ad in

con

junc

tion

with

the

acco

mpa

nyin

g no

tes.

Rate

Set

ting

Sta

tem

ent

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

2015

2014

Actu

alAc

tual

Note

$$

Reve

nue

Gene

ral P

urpo

se F

undi

ng 3

,269

,384

2

,013

,669

Go

vern

ance

121

,179

1

85,7

10

Law,

Ord

er a

nd P

ublic

Saf

ety

164

,628

1

80,9

33

Healt

h 7

7,87

0 6

8,20

0 Ed

ucat

ion

and

Wel

fare

1,1

00,9

78

1,0

67,2

90

Com

mun

ity A

men

ities

2,8

17,3

68

2,7

02,4

98

Recr

eatio

n an

d Cu

lture

9,2

22,2

32

9,6

83,6

63

Tran

spor

t 2

,148

,117

2

,238

,260

Ec

onom

ic Se

rvice

s 5

00,5

44

583

,148

Ot

her P

rope

rty a

nd S

ervic

es 2

20,5

30

525

,165

To

tal R

even

ue 1

9,64

2,83

0 1

9,24

8,53

6

Less

: Exp

endi

ture

Gene

ral P

urpo

se F

undi

ng (5

75,7

35)

(608

,279

)Go

vern

ance

(1,7

80,6

03)

(1,7

64,0

89)

Law,

Ord

er a

nd P

ublic

Saf

ety

(1,4

35,8

64)

(1,4

12,3

62)

Healt

h (5

68,0

40)

(460

,029

)Ed

ucat

ion

and

Wel

fare

(1,7

47,5

81)

(1,6

59,5

15)

Com

mun

ity A

men

ities

(5,8

80,6

41)

(5,5

52,4

12)

Recr

eatio

n an

d Cu

lture

(17,

754,

946)

(17,

881,

697)

Tran

spor

t (8

,221

,307

) (7

,421

,102

)Ec

onom

ic Se

rvice

s (5

51,2

12)

(598

,783

)Ot

her P

rope

rty a

nd S

ervic

es (2

,601

,923

) (2

,336

,557

)To

tal E

xpen

ditu

re (4

1,11

7,85

2) (3

9,69

4,82

5)

Net

(21,

475,

022)

(20,

446,

289)

Add

Non

Cash

Exp

endi

ture

Prov

ision

for E

mpl

oyee

Ent

itlem

ents

(Non

Cur

rent

) (5

,375

) 6

6,85

9 Ad

just

men

t def

erre

d ra

tes

(Non

Cur

rent

) 3

5,40

1 7

,337

De

prec

iatio

n4

6,9

08,0

16

6,5

00,7

07

Inte

rest

Cap

italis

ed A

gain

st L

and

(Sou

thpo

rt) 3

4,17

7 3

9,10

5 6

,972

,219

6

,614

,008

2015

2014

Actu

alAc

tual

Note

$$

Less

Cap

ital P

rogr

amPu

rcha

se o

f Lan

d -

-

Pu

rcha

se o

f Bui

ldin

gs (9

62,1

62)

(1,0

87,3

04)

Purc

hase

of F

urni

ture

and

Equ

ipm

ent

(643

,733

) (1

,139

,178

)Pu

rcha

se o

f Plan

t and

Equ

ipm

ent

(637

,107

) (6

76,3

99)

Purc

hase

of I

nfra

stru

ctur

e -

Par

ks a

nd R

eser

ves

(1,8

87,6

93)

(3,8

82,2

92)

- R

oads

and

Lan

es (1

,830

,345

) (2

,411

,128

) -

Dra

inag

e (7

09,9

78)

(279

,277

) -

Foo

tpat

hs (1

,604

,368

) (6

80,6

08)

- B

us S

helte

r (6

6,64

4) (2

3,18

0) -

Wor

k in

Pro

gres

s (1

7,87

0,41

9) (5

,066

,800

)La

nd D

evel

opm

ent C

osts

Cap

italis

ed (2

6,13

5) (2

15,0

75)

Inve

stm

ent i

n M

inda

rie R

egio

nal C

ounc

il31

(21,

063)

(19,

851)

Repa

ymen

t of D

ebt P

rincip

al (1

,138

,925

) (3

82,3

98)

Tran

sfer

s to

Res

erve

(5,1

72,2

05)

(4,4

53,4

99)

Tran

sfer

s to

End

owm

ent L

ands

Acc

ount

(5,5

12,8

17)

(22,

091,

228)

(38,

083,

594)

(42,

408,

217)

Add:

Cap

ital R

even

ueCo

ntrib

utio

n fo

r the

dev

elop

men

t of a

sset

s 3

,431

,321

2

,280

,114

Pr

ocee

ds fr

om s

ale o

f ass

ets

4,9

47,9

46

21,

777,

992

Repa

ymen

t of i

nves

tmen

t in

Tam

ala P

ark

31 2

,583

,334

8

33,3

32

10,

962,

601

24,

891,

438

Plus

: Fun

ding

Sou

rces

Tran

sfer

from

Res

erve

Fun

ds 3

,444

,942

5

,013

,440

Tr

ansf

er fr

om E

ndow

men

t Lan

ds A

ccou

nt

16,

097,

285

3,9

82,1

49

Loan

s12

-

600

,000

Op

enin

g Fu

nds

3,5

22,8

97

4,2

74,0

54

Less

: Clo

sing

Fund

s (3

,636

,000

) (3

,522

,897

) 1

9,42

9,12

4 1

0,34

6,74

6

Amou

nt R

equi

red

to b

e Ra

ised

from

Rat

es (2

2,19

4,67

2) (2

1,00

2,31

5)

61Financial Report

1.

SIG

NIF

ICA

NT

ACC

OU

NTI

NG

PO

LICI

ES(a

) Ba

sis

of P

repa

rati

on

The

fina

ncia

l rep

ort c

ompr

ises

gen

eral

pur

pose

fina

ncia

l sta

tem

ents

whi

ch

has

been

pre

pare

d in

acc

orda

nce

wit

h A

ustr

alia

n A

ccou

ntin

g St

anda

rds

(as

they

app

ly to

loca

l gov

ernm

ents

and

not

for

pro

fit e

ntit

ies)

, Aus

tral

ian

Acc

ount

ing

Inte

rpre

tati

ons,

oth

er a

utho

rita

tive

pro

noun

cem

ents

of

the

Aus

tral

ian

Acc

ount

ing

Stan

dard

s B

oard

, the

Loc

al G

over

nmen

t Act

19

95

and

ac

com

pany

ing

regu

lati

ons.

Mat

eria

l acc

ount

ing

polic

ies

whi

ch h

ave

been

ad

opte

d in

pre

para

tion

of

this

fina

ncia

l rep

ort a

re p

rese

nted

bel

ow a

nd h

ave

been

con

sist

entl

y ap

plie

d un

less

sta

ted

othe

rwis

e.

Exce

pt f

or c

ash

flow

and

rate

set

ting

sta

tem

ent i

nfor

mat

ion,

the

repo

rt h

as

been

pre

pare

d on

the

accr

ual b

asis

and

is b

ased

on

hist

oric

al c

osts

, mod

ified

, w

here

app

licab

le, b

y th

e m

easu

rem

ent a

t fai

r val

ue o

f se

lect

ed n

on-c

urre

nt

asse

ts, fi

nanc

ial a

sset

s an

d lia

bilit

ies.

Cr

itic

al A

ccou

ntin

g Es

tim

ates

Th

e pr

epar

atio

n of

a fi

nanc

ial r

epor

t in

conf

orm

ity

wit

h 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

as

sum

ptio

ns th

at a

ffec

t the

app

licat

ion

of p

olic

ies

and

repo

rted

am

ount

s of

as

sets

and

liab

iliti

es, i

ncom

e an

d ex

pens

es.

Th

e es

tim

ates

and

ass

ocia

ted

assu

mpt

ions

are

bas

ed o

n hi

stor

ical

exp

erie

nce

and

vari

ous

othe

r fac

tors

that

are

bel

ieve

d to

be

reas

onab

le u

nder

the

circ

umst

ance

s; th

e re

sult

s of

whi

ch f

orm

the

basi

s of

mak

ing

judg

emen

ts

abou

t car

ryin

g va

lues

of

asse

ts a

nd li

abili

ties

that

are

not

read

ily a

ppar

ent f

rom

ot

her s

ourc

es.

Act

ual r

esul

ts m

ay d

iffe

r fro

m th

ese

esti

mat

es.

(b)

The

Loca

l Gov

ernm

ent R

epor

ting

Ent

ity

All

Fund

s th

roug

h w

hich

the

Tow

n co

ntro

ls re

sour

ces

to c

arry

on

its

func

tion

s ha

ve b

een

incl

uded

in th

e fi

nanc

ial s

tate

men

ts f

orm

ing

part

of

this

fina

ncia

l re

port

.

In th

e pr

oces

s of

repo

rtin

g on

the

loca

l gov

ernm

ent a

s a

sing

le u

nit,

all

tran

sact

ions

and

bal

ance

s be

twee

n th

ose

Fund

s (f

or e

xam

ple,

loan

s an

d tr

ansf

ers

betw

een

Fund

s) h

ave

been

elim

inat

ed.

All

mon

ies

held

in th

e Tr

ust F

und

are

excl

uded

fro

m th

e fi

nanc

ial s

tate

men

ts.

A s

epar

ate

stat

emen

t of

thos

e m

onie

s ap

pear

s at

Not

e 2

4 o

f th

ese

fina

ncia

l st

atem

ents

.

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

(c)

Goo

ds a

nd S

ervi

ces

Tax

Reve

nues

, exp

ense

s an

d as

sets

are

reco

gniz

ed n

et o

f th

e am

ount

GST

, exc

ept

whe

re th

e am

ount

of

GST

incu

rred

is n

ot re

cove

rabl

e fr

om th

e A

ustr

alia

n Ta

xati

on O

ffice

(AT

O).

Rece

ivab

les

or p

ayab

les

are

stat

ed in

clus

ive

of G

ST re

ceiv

able

or p

ayab

le.

The

net a

mou

nt o

f G

ST re

cove

rabl

e fr

om o

r pay

able

to th

e AT

O is

incl

uded

wit

h re

ceiv

able

s or

pay

able

s in

the

stat

emen

t of

fina

ncia

l pos

itio

n.

Cash

flow

s ar

e pr

esen

ted

on a

gro

ss b

asis

. Th

e G

ST c

ompo

nent

s of

cas

h fl

ows

aris

ing

from

inve

stin

g or

fina

ncin

g ac

tivi

ties

whi

ch a

re re

cove

rabl

e fr

om, o

r pa

yabl

e to

, the

ATO

are

pre

sent

ed a

s op

erat

ing

cash

flow

s.

(d)

Prop

erty

, Pla

nt a

nd E

quip

men

t

Ea

ch c

lass

of

fixe

d as

sets

wit

hin

eith

er p

rope

rty,

pla

nt a

nd e

quip

men

t or

infr

astr

uctu

re is

car

ried

at c

ost o

r fai

r val

ue a

s in

dica

ted,

whe

re a

pplic

able

, any

ac

cum

ulat

ed d

epre

ciat

ion

and

impa

irm

ent l

osse

s.

(i)

Capi

talis

atio

n of

Non

-Cur

rent

Ass

ets

Fi

xed

asse

ts o

ther

than

infr

astr

uctu

re a

sset

s ar

e ca

pita

lised

if th

e co

st

exce

eds

$1

,00

0.

Infr

astr

uctu

re a

sset

s ar

e ca

pita

lised

if th

e co

st o

r va

luat

ion

exce

eds

the

follo

win

g fo

r eac

h ty

pe o

f in

fras

truc

ture

.

Park

s an

d Re

serv

es

$1

0,0

00

Road

s an

d La

nes

$1

0,0

00

Dra

inag

e $

10

,00

0

Foot

path

s $

2,0

00

Bus

She

lter

s $

2,0

00

Und

erpa

sses

$

10

,00

0

The

Chie

f Ex

ecut

ive

Offi

cer o

r nom

inee

has

dis

cret

ion

to c

apit

alis

e as

sets

w

ith

a va

lue

of $

1,0

00

or l

ess

havi

ng re

gard

to th

e na

ture

of

the

item

.


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

1.

SIG

NIF

ICA

NT

ACC

OU

NTI

NG

PO

LICI

ES (

cont

inue

d)

(ii)

Pr

oper

ty, P

lant

and

Equ

ipm

ent a

nd In

fras

truc

ture

All

asse

ts a

re in

itia

lly re

cogn

ised

at c

ost.

Cos

t is

dete

rmin

ed a

s th

e fa

ir

valu

e of

the

asse

ts g

iven

as

cons

ider

atio

n pl

us c

osts

inci

dent

al to

the

acqu

isit

ion.

For

ass

ets

acqu

ired

at n

o co

st o

r for

nom

inal

con

side

rati

on,

cost

is d

eter

min

ed a

s fa

ir v

alue

at t

he d

ate

of a

cqui

siti

on.

The

cost

of

non

-cur

rent

ass

ets

cons

truc

ted

by th

e To

wn

incl

udes

the

cost

of

all m

ater

ials

use

d in

con

stru

ctio

n, d

irec

t lab

our o

n th

e pr

ojec

t and

an

appr

opri

ate

prop

orti

on o

f va

riab

le a

nd fi

xed

over

head

.

(iii

) D

epre

ciat

ion

The

depr

ecia

ble

amou

nt o

f al

l fixe

d as

sets

incl

udin

g bu

ildin

gs b

ut

excl

udin

g fr

eeho

ld la

nd, a

re d

epre

ciat

ed o

n a

stra

ight

line

bas

is o

ver

the

indi

vidu

al a

sset

’s u

sefu

l lif

e fr

om th

e ti

me

the

asse

t is

held

read

y fo

r use

. Le

aseh

old

impr

ovem

ents

are

dep

reci

ated

ove

r the

sho

rter

of

eith

er th

e un

expi

red

peri

od o

f th

e le

ase

or th

e es

tim

ated

use

ful l

ife

of

impr

ovem

ents

.

Whe

n an

item

of

prop

erty

, pla

nt a

nd e

quip

men

t is

reva

lued

, any

ac

cum

ulat

ed d

epre

ciat

ion

at th

e da

te o

f re

valu

atio

n is

trea

ted

in o

ne o

f th

e fo

llow

ing

way

s:

(a)

Rest

ated

pro

port

iona

tely

wit

h th

e ch

ange

in th

e gr

oss

carr

ying

am

ount

of

the

asse

t so

that

the

carr

ying

am

ount

of

the

asse

t aft

er

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

the

asse

t and

the

net a

mou

nt re

stat

ed to

the

reva

lued

am

ount

of

the

asse

t.

Maj

or d

epre

ciat

ion

peri

ods

used

for

eac

h cl

ass

of d

epre

ciat

ion

asse

ts a

re:

CATE

GO

RYU

SEFU

L LI

FED

EPRE

CIAT

ION

RATE

Bui

ldin

gs2

5-5

0 Y

ears

4%

-2%

Offi

ce F

urni

ture

and

Equ

ipm

ent

3-1

0 Y

ears

33

.3%

-10

%Pl

ant a

nd E

quip

men

t3

-10

Yea

rs3

3.3

%-1

0%

Infr

astr

uctu

re-

Park

s an

d Re

serv

es

10

-40

Yea

rs1

0%

-2.5

%-

Road

s an

d La

nes

10

-80

Yea

rs1

0%

-1.2

5%

- D

rain

age

30

-10

0 Y

ears

3.3

%-1

%-

Foot

path

s1

5-8

0 Y

ears

6.6

%-1

.25

%-

Bus

She

lter

s1

5-5

0 Y

ears

6.6

%-2

%

The

asse

t’s

resi

dual

val

ues

and

usef

ul li

ves

are

revi

ewed

and

adj

uste

d if

ap

prop

riat

e, a

t the

end

of

each

repo

rtin

g pe

riod

.

An

asse

t’s

carr

ying

am

ount

is w

ritt

en d

own

imm

edia

tely

to it

s re

cove

rabl

e am

ount

if th

e as

set’

s ca

rryi

ng a

mou

nt is

gre

ater

than

its

esti

mat

ed re

cove

rabl

e am

ount

.

Gai

ns a

nd lo

sses

on

disp

osal

s ar

e de

term

ined

by

com

pari

ng p

roce

eds

wit

h th

e ca

rryi

ng a

mou

nt.

Thes

e ga

ins

and

loss

es a

re in

clud

ed in

the

Stat

emen

t of

Com

preh

ensi

ve In

com

e in

the

peri

od in

whi

ch th

ey a

rise

.

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

surp

lus.

(iv)

M

anda

tory

Req

uire

men

t to

Reva

lue

Non

-Cur

rent

Ass

ets

Effe

ctiv

e fr

om 1

Jul

y 2

01

2, t

he L

ocal

Gov

ernm

ent (

Fina

ncia

l M

anag

emen

t) R

egul

atio

ns w

ere

amen

ded

and

the

mea

sure

men

t of

non-

curr

ent a

sset

s at

Fai

r Val

ue b

ecam

e m

anda

tory

.

The

amen

dmen

ts a

llow

for

a p

hasi

ng in

of

fair

val

ue in

rela

tion

to fi

xed

asse

ts o

ver t

hree

yea

rs a

s fo

llow

s:

(a)

fo

r the

fina

ncia

l yea

r end

ing

on 3

0 J

une

20

13, t

he f

air v

alue

of

all

of th

e as

sets

of

the

loca

l gov

ernm

ent t

hat a

re p

lant

and

equ

ipm

ent;

an

d

(b)

fo

r the

fina

ncia

l yea

r end

ing

on 3

0 J

une

20

14, t

he f

air v

alue

of

all

of th

e as

sets

of

the

loca

l gov

ernm

ent t

hat a

re –

(i)

land

and

bui

ldin

gs; o

r

(ii)

infr

astr

uctu

re;

and

(c)

fo

r a fi

nanc

ial y

ear e

ndin

g on

or a

fter

30

Jun

e 2

01

5, t

he f

air v

alue

of

all

of th

e as

sets

of

the

loca

l gov

ernm

ent.

Ther

eaft

er, i

n ac

cord

ance

wit

h th

e re

gula

tion

s, e

ach

asse

t cla

ss m

ust b

e re

valu

ed a

t lea

st e

very

3 y

ears

.

In 2

013

, Tow

n co

mm

ence

d th

e pr

oces

s of

ado

ptin

g Fa

ir V

alue

in

acco

rdan

ce w

ith

the

Regu

lati

ons.

Rele

vant

dis

clos

ures

, in

acco

rdan

ce w

ith

the

requ

irem

ents

of

Aus

tral

ian

Acc

ount

ing

Stan

dard

s, h

ave

been

mad

e in

the

fina

ncia

l rep

ort a

s ne

cess

ary.

63Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

1.

SIG

NIF

ICA

NT

ACC

OU

NTI

NG

PO

LICI

ES (

cont

inue

d)

(v)

Land

Und

er C

ontr

ol

In a

ccor

danc

e w

ith

Loca

l Gov

ernm

ent (

Fina

ncia

l Man

agem

ent)

Re

gula

tion

16

(a),

the

Tow

n w

as re

quir

ed to

incl

ude

as a

n as

set (

by 3

0

June

20

13),

Cro

wn

Land

ope

rate

d by

the

loca

l gov

ernm

ent a

s a

golf

co

urse

, sho

wgr

ound

, rac

ecou

rse

or o

ther

spo

rtin

g or

recr

eati

onal

fac

ility

of

Sta

te o

r reg

iona

l sig

nifi

canc

e. T

own

has

no s

uch

asse

ts o

n Cr

own

Land

w

ith

the

Wem

bley

Gol

f Co

urse

ow

ned

free

hold

.

(vi)

In

itia

l 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

itia

lly re

cogn

ised

at c

ost a

nd s

ubse

quen

tly

reva

lued

in

acc

orda

nce

wit

h th

e m

anda

tory

mea

sure

men

t fra

mew

ork

deta

iled

abov

e.

In re

lati

on to

this

init

ial m

easu

rem

ent,

cos

t is

dete

rmin

ed a

s th

e fa

ir

valu

e of

the

asse

ts g

iven

as

cons

ider

atio

n pl

us c

osts

inci

dent

al to

the

acqu

isit

ion.

For

ass

ets

acqu

ired

at n

o co

st o

r for

nom

inal

con

side

rati

on,

cost

is d

eter

min

ed a

s fa

ir v

alue

at t

he d

ate

of a

cqui

siti

on.

The

cost

of

non

-cur

rent

ass

ets

cons

truc

ted

by th

e To

wn

incl

udes

the

cost

of

all m

ater

ials

use

d in

con

stru

ctio

n, d

irec

t lab

our o

n th

e pr

ojec

t and

an

appr

opri

ate

prop

orti

on o

f va

riab

le a

nd fi

xed

over

head

s.

Indi

vidu

al a

sset

s ac

quir

ed b

etw

een

init

ial r

ecog

niti

on a

nd th

e ne

xt

reva

luat

ion

of th

e as

set c

lass

in a

ccor

danc

e w

ith

the

man

dato

ry

mea

sure

men

t fra

mew

ork

deta

iled

abov

e, a

re c

arri

ed a

t cos

t les

s ac

cum

ulat

ed d

epre

ciat

ion

as m

anag

emen

t bel

ieve

s th

is a

ppro

xim

ates

fa

ir v

alue

. Th

ey w

ill b

e su

bjec

t to

subs

eque

nt re

valu

atio

n at

the

next

an

nive

rsar

y da

te in

acc

orda

nce

wit

h th

e m

anda

tory

mea

sure

men

t fr

amew

ork

deta

iled

abov

e.

(vii)

Re

valu

atio

n

Incr

ease

s in

the

carr

ying

am

ount

ari

sing

on

reva

luat

ion

of a

sset

s ar

e cr

edit

ed 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 are

reco

gnis

ed a

gain

st th

e re

valu

atio

n su

rplu

s di

rect

ly in

equ

ity.

All

othe

r dec

reas

es a

re re

cogn

ised

in p

rofi

t or

loss

.

(e)

Inta

ngib

le A

sset

s

Ea

sem

ents

Regu

lati

on 1

6 o

f th

e Lo

cal G

over

nmen

t (Fi

nanc

ial M

anag

emen

t) R

egul

atio

ns

19

96

requ

ires

eas

emen

ts to

be

reco

gnis

ed a

s as

sets

.

The

Tow

n ha

s de

term

ined

that

und

er A

ASB

13

8 In

tang

ible

Ass

ets,

eas

emen

ts

are

valu

ed o

n a

hist

oric

al b

asis

, bec

ause

it is

unl

ikel

y th

at a

n ac

tive

mar

ket

in e

asem

ents

exi

sts

to a

llow

for

fai

r val

ue m

easu

rem

ent.

Due

to a

cqui

siti

on

of e

asem

ents

at n

il va

lues

, no

ease

men

ts h

ave

been

incl

uded

in th

e fi

nanc

ial

repo

rt.

(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 m

anag

ing

this

is v

este

d in

the

loca

l gov

ernm

ent.

Ef

fect

ive

as a

t 1 J

uly

20

08

, 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

Jun

e 2

00

8.

This

acc

ords

wit

h th

e tr

eatm

ent a

vaila

ble

in A

ustr

alia

n A

ccou

ntin

g St

anda

rd A

ASB

10

51

Lan

d U

nder

Ro

ads

and

the

fact

Loc

al G

over

nmen

t (Fi

nanc

ial M

anag

emen

t) R

egul

atio

n 16

(a

)(i)

pro

hibi

ts lo

cal g

over

nmen

ts f

rom

reco

gnis

ing

such

land

as

an a

sset

.

In

resp

ect o

f la

nd u

nder

road

s ac

quir

ed o

n or

aft

er 1

Jul

y 2

00

8, a

s de

taile

d ab

ove,

Loc

al G

over

nmen

t (Fi

nanc

ial M

anag

emen

t) R

egul

atio

n 16

(a)(

i)

proh

ibit

s lo

cal g

over

nmen

ts f

rom

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

the

requ

irem

ents

of

AA

SB 1

05

1,

Loca

l Gov

ernm

ent (

Fina

ncia

l Man

agem

ent)

Reg

ulat

ion

4(2

) pr

ovid

es, i

n th

e ev

ent o

f su

ch a

n in

cons

iste

ncy,

the

Loca

l Gov

ernm

ent (

Fina

ncia

l Man

agem

ent)

Re

gula

tion

s pr

evai

l.

Co

nseq

uent

ly, a

ny la

nd u

nder

road

s ac

quir

ed o

n or

aft

er 1

Jul

y 2

00

8 is

not

in

clud

ed a

s an

ass

et o

f th

e To

wn.


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

1.

SIG

NIF

ICA

NT

ACC

OU

NTI

NG

PO

LICI

ES (

cont

inue

d)

(g)

Fair

Val

ue o

f A

sset

s an

d Li

abili

ties

W

hen

perf

orm

ing

a re

valu

atio

n, th

e To

wn

uses

a m

ix o

f bo

th in

depe

nden

t and

m

anag

emen

t val

uati

ons

usin

g th

e fo

llow

ing

as a

gui

de:

Fair

Val

ue is

the

pric

e th

at T

own

wou

ld re

ceiv

e to

sel

l the

ass

et o

r wou

ld

have

to p

ay to

tran

sfer

a li

abili

ty, i

n an

ord

erly

(ie

unf

orce

d) tr

ansa

ctio

n be

twee

n in

depe

nden

t, k

now

ledg

eabl

e an

d w

illin

g m

arke

t par

tici

pant

s at

the

mea

sure

men

t dat

e.

A

s fa

ir v

alue

is a

mar

ket-

base

d m

easu

re, t

he c

lose

st e

quiv

alen

t obs

erva

ble

mar

ket p

rici

ng in

form

atio

n is

use

d to

det

erm

ine

fair

val

ue. A

djus

tmen

ts to

m

arke

t val

ues

may

be

mad

e ha

ving

rega

rd to

the

char

acte

rist

ics

of th

e sp

ecifi

c as

set.

The

fair

val

ues

of a

sset

s th

at a

re n

ot tr

aded

in a

n ac

tive

mar

ket a

re

dete

rmin

ed u

sing

one

or m

ore

valu

atio

n te

chni

ques

. The

se v

alua

tion

tech

niqu

es

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

fro

m e

ithe

r the

pri

ncip

al

mar

ket f

or th

e as

set o

r lia

bilit

y (i

.e. t

he m

arke

t wit

h th

e gr

eate

st v

olum

e an

d le

vel

of a

ctiv

ity

for t

he a

sset

or l

iabi

lity)

or,

in th

e ab

senc

e of

suc

h a

mar

ket,

the

mos

t ad

vant

ageo

us m

arke

t ava

ilabl

e to

the

enti

ty a

t the

end

of

the

repo

rtin

g pe

riod

(i

.e. t

he m

arke

t tha

t max

imis

es th

e re

ceip

ts f

rom

the

sale

of

the

asse

t aft

er

taki

ng in

to a

ccou

nt tr

ansa

ctio

n co

sts

and

tran

spor

t cos

ts).

Fo

r non

-fina

ncia

l ass

ets,

the

fair

val

ue m

easu

rem

ent a

lso

take

s in

to a

ccou

nt a

m

arke

t par

tici

pant

’s a

bilit

y to

use

the

asse

t in

its

high

est a

nd b

est u

se o

r to

sell

it to

ano

ther

mar

ket p

arti

cipa

nt th

at w

ould

use

the

asse

t in

its

high

est a

nd b

est

use.

Fa

ir V

alue

Hie

rarc

hy

A

ASB

13

requ

ires

the

disc

losu

re o

f fa

ir v

alue

info

rmat

ion

by le

vel o

f th

e fa

ir

valu

e hi

erar

chy,

whi

ch c

ateg

oris

es f

air v

alue

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 lev

el th

at a

n in

put t

hat i

s si

gnifi

cant

to th

e m

easu

rem

ent c

an b

e ca

tego

rise

d in

to a

s fo

llow

s:

Le

vel 1

Mea

sure

men

ts b

ased

on

quot

ed p

rice

s (u

nadj

uste

d) in

act

ive

mar

kets

for

id

enti

cal a

sset

s or

liab

iliti

es th

at th

e en

tity

can

acc

ess

at th

e m

easu

rem

ent

date

.

Le

vel 2

Mea

sure

men

ts b

ased

on

inpu

ts o

ther

than

quo

ted

pric

es in

clud

ed in

Lev

el 1

th

at a

re o

bser

vabl

e fo

r the

ass

et o

r lia

bilit

y, e

ithe

r dir

ectl

y or

indi

rect

ly.

Le

vel 3

Mea

sure

men

ts b

ased

on

unob

serv

able

inpu

ts f

or th

e as

set o

r lia

bilit

y.

The

fair

val

ues

of a

sset

s an

d lia

bilit

ies

that

are

not

trad

ed in

an

acti

ve m

arke

t ar

e de

term

ined

usi

ng o

ne o

r mor

e va

luat

ion

tech

niqu

es. T

hese

val

uati

on

tech

niqu

es m

axim

ise,

to th

e ex

tent

pos

sibl

e, th

e us

e of

obs

erva

ble

mar

ket

data

. If

all s

igni

fica

nt in

puts

requ

ired

to m

easu

re f

air v

alue

are

obs

erva

ble,

the

asse

t or l

iabi

lity

is in

clud

ed in

Lev

el 2

. If

one

or m

ore

sign

ifica

nt in

puts

are

not

ba

sed

on o

bser

vabl

e m

arke

t dat

a, th

e as

set o

r lia

bilit

y is

incl

uded

in L

evel

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

suf

fici

ent d

ata

is a

vaila

ble

to m

easu

re f

air v

alue

. The

ava

ilabi

lity

of s

uffi

cien

t and

rele

vant

dat

a pr

imar

ily d

epen

ds o

n th

e sp

ecifi

c ch

arac

teri

stic

s of

the

asse

t or l

iabi

lity

bein

g m

easu

red.

The

val

uati

on te

chni

ques

sel

ecte

d by

the

Tow

n ar

e co

nsis

tent

wit

h on

e or

mor

e of

the

follo

win

g va

luat

ion

appr

oach

es:

M

arke

t app

roac

h

Valu

atio

n te

chni

ques

that

use

pri

ces

and

othe

r rel

evan

t inf

orm

atio

n ge

nera

ted

by m

arke

t tra

nsac

tion

s fo

r ide

ntic

al o

r sim

ilar a

sset

s or

liab

iliti

es.

Inco

me

appr

oach

Valu

atio

n te

chni

ques

that

con

vert

est

imat

ed f

utur

e ca

sh fl

ows

or in

com

e an

d ex

pens

es in

to a

sin

gle

disc

ount

ed p

rese

nt v

alue

.

65Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

1.

SIG

NIF

ICA

NT

ACC

OU

NTI

NG

PO

LICI

ES (

cont

inue

d)

Cost

app

roac

h

Valu

atio

n te

chni

ques

that

refl

ect t

he c

urre

nt re

plac

emen

t cos

t of

an a

sset

at i

ts

curr

ent s

ervi

ce c

apac

ity.

Ea

ch v

alua

tion

tech

niqu

e re

quir

es in

puts

that

refl

ect t

he a

ssum

ptio

ns th

at

buye

rs a

nd s

elle

rs w

ould

use

whe

n pr

icin

g th

e as

set o

r lia

bilit

y, in

clud

ing

assu

mpt

ions

abo

ut ri

sks.

Whe

n se

lect

ing

a va

luat

ion

tech

niqu

e, th

e To

wn

give

s pr

iori

ty to

thos

e te

chni

ques

that

max

imis

e th

e us

e of

obs

erva

ble

inpu

ts

and

min

imis

e th

e us

e of

uno

bser

vabl

e in

puts

. Inp

uts

that

are

dev

elop

ed u

sing

m

arke

t dat

a (s

uch

as p

ublic

ly a

vaila

ble

info

rmat

ion

on a

ctua

l tra

nsac

tion

s)

and

refl

ect t

he a

ssum

ptio

ns th

at b

uyer

s an

d se

llers

wou

ld g

ener

ally

use

whe

n pr

icin

g th

e as

set o

r lia

bilit

y an

d co

nsid

ered

obs

erva

ble,

whe

reas

inpu

ts f

or

whi

ch m

arke

t dat

a is

not

ava

ilabl

e an

d th

eref

ore

are

deve

lope

d us

ing

the

best

in

form

atio

n av

aila

ble

abou

t suc

h as

sum

ptio

ns a

re c

onsi

dere

d un

obse

rvab

le.

A

s de

taile

d ab

ove,

the

man

dato

ry m

easu

rem

ent f

ram

ewor

k im

pose

d by

th

e Lo

cal G

over

nmen

t (Fi

nanc

ial M

anag

emen

t) R

egul

atio

ns re

quir

es, a

s a

min

imum

, all

asse

ts c

arri

ed a

t a re

valu

ed a

mou

nt to

be

reva

lued

at l

east

eve

ry 3

ye

ars.

(h)

Rate

s, G

rant

s, D

onat

ions

and

Oth

er C

ontr

ibut

ions

Rate

s, g

rant

s, d

onat

ions

and

oth

er c

ontr

ibut

ions

are

reco

gnis

ed a

s re

venu

es

whe

n th

e To

wn

obta

ins

cont

rol o

ver t

he a

sset

s co

mpr

isin

g th

e co

ntri

buti

ons.

Cont

rol o

ver a

sset

s ac

quir

ed f

rom

rate

s is

obt

aine

d at

the

com

men

cem

ent o

f th

e ra

ting

per

iod

or, w

here

ear

lier,

upon

rece

ipt o

f ra

tes.

Whe

re c

ontr

ibut

ions

re

cogn

ised

as

reve

nues

dur

ing

the

repo

rtin

g pe

riod

wer

e ob

tain

ed o

n th

e co

ndit

ion

that

they

are

to b

e ex

pend

ed in

a p

arti

cula

r man

ner o

r use

d ov

er a

pa

rtic

ular

per

iod,

and

thos

e co

ndit

ions

wer

e un

disc

harg

ed a

s at

the

repo

rtin

g da

te, t

he n

atur

e of

and

am

ount

s pe

rtai

ning

to th

ose

undi

scha

rged

con

diti

ons

are

disc

lose

d in

the

note

s ac

com

pany

ing

the

fina

ncia

l rep

ort.

Thes

e no

tes

also

dis

clos

e th

e am

ount

of

cont

ribu

tion

s re

cogn

ised

as

reve

nues

in

a p

revi

ous

repo

rtin

g pe

riod

whi

ch w

ere

obta

ined

in re

spec

t of

the

Tow

n’s

oper

atio

ns f

or th

e cu

rren

t rep

orti

ng p

erio

d.

(i)

Cash

and

Cas

h Eq

uiva

lent

s

Cash

and

cas

h eq

uiva

lent

s in

clud

e ca

sh o

n ha

nd, c

ash

at b

ank,

dep

osit

s av

aila

ble

on d

eman

d w

ith

bank

s an

d ot

her s

hort

term

hig

hly

liqui

d in

vest

men

ts

that

are

read

ily c

onve

rtib

le to

kno

wn

amou

nts

of c

ash

and

whi

ch a

re s

ubje

ct to

an

insi

gnifi

cant

risk

of

chan

ges

in v

alue

and

ban

k ov

erdr

afts

.

Ban

k ov

erdr

afts

are

repo

rted

as

shor

t ter

m b

orro

win

gs in

cur

rent

liab

iliti

es in

th

e st

atem

ent o

f fi

nanc

ial p

osit

ion.

(j)

Inve

ntor

ies

G

ener

al

Inve

ntor

ies

are

mea

sure

d at

the

low

er o

f co

st a

nd n

et re

alis

able

val

ue.

Net

real

isab

le v

alue

is th

e es

tim

ated

sel

ling

pric

e in

the

ordi

nary

cou

rse

of

busi

ness

less

the

esti

mat

ed c

osts

of

com

plet

ion

and

the

esti

mat

ed c

osts

ne

cess

ary

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 co

st a

nd n

et

real

isab

le v

alue

. Co

st in

clud

es th

e co

st o

f ac

quis

itio

n, d

evel

opm

ent,

bor

row

ing

cost

s an

d ho

ldin

g co

sts

unti

l com

plet

ion

of d

evel

opm

ent.

Fin

ance

cos

ts

and

hold

ing

char

ges

incu

rred

aft

er d

evel

opm

ent i

s co

mpl

eted

are

exp

ense

d.

Gai

ns a

nd lo

sses

are

reco

gnis

ed in

pro

fit o

r los

s at

the

tim

e of

sig

ning

an

unco

ndit

iona

l con

trac

t of

sale

if s

igni

fica

nt ri

sks

and

rew

ards

, and

eff

ecti

ve

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.

Land

hel

d fo

r res

ale

is c

lass

ified

as

curr

ent e

xcep

t whe

re it

is h

eld

as n

on-

curr

ent b

ased

on

Tow

n’s

inte

ntio

ns to

rele

ase

for s

ale.

(k)

Fina

ncia

l Ins

trum

ents

Init

ial R

ecog

niti

on a

nd M

easu

rem

ent

Fina

ncia

l ass

ets

and

fina

ncia

l lia

bilit

ies

are

reco

gnis

ed w

hen

the

Tow

n be

com

es

a pa

rty

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,

this

is e

quiv

alen

t to

the

date

that

the

Tow

n co

mm

its

itse

lf to

eit

her t

he

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).

Fina

ncia

l ins

trum

ents

are

init

ially

mea

sure

d at

fai

r val

ue p

lus

tran

sact

ion

cost

s,

exce

pt w

here

the

inst

rum

ent i

s cl

assi

fied

‘at f

air v

alue

thro

ugh

profi

t of

loss

’, in

w

hich

cas

e tr

ansa

ctio

n co

sts

are

expe

nsed

to p

rofi

t or l

oss

imm

edia

tely

.


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

1.

SIG

NIF

ICA

NT

ACC

OU

NTI

NG

PO

LICI

ES (

cont

inue

d)

Clas

sifi

cati

on a

nd S

ubse

quen

t Mea

sure

men

t

Fina

ncia

l ins

trum

ents

are

sub

sequ

entl

y m

easu

red

at f

air v

alue

, am

orti

sed

cost

us

ing

the

effe

ctiv

e in

tere

st ra

te m

etho

d, o

r cos

t.

Am

orti

sed

cost

is c

alcu

late

d as

:

(a)

the

amou

nt a

t whi

ch th

e fi

nanc

ial a

sset

or fi

nanc

ial l

iabi

lity

is m

easu

red

at in

itia

l rec

ogni

tion

;

(b)

less

pri

ncip

al re

paym

ents

and

any

redu

ctio

n fo

r im

pair

men

t; a

nd

(c)

plus

or m

inus

the

cum

ulat

ive

amor

tisa

tion

of

the

diff

eren

ce, i

f an

y,

betw

een

the

amou

nt in

itia

lly re

cogn

ised

and

the

mat

urit

y am

ount

ca

lcul

ated

usi

ng th

e ef

fect

ive

inte

rest

rate

met

hod.

The

effe

ctiv

e in

tere

st m

etho

d us

ed is

to a

lloca

te in

tere

st in

com

e or

inte

rest

ex

pens

e ov

er th

e re

leva

nt p

erio

d an

d is

equ

ival

ent t

o th

e ra

te th

at d

isco

unts

es

tim

ated

fut

ure

cash

pay

men

ts o

r rec

eipt

s (i

nclu

ding

fee

s, tr

ansa

ctio

n co

sts

and

othe

r pre

miu

ms

or d

isco

unts

) th

roug

h th

e ex

pect

ed li

fe (

or w

hen

this

ca

nnot

be

relia

bly

pred

icte

d, th

e co

ntra

ctua

l ter

m)

of th

e fi

nanc

ial i

nstr

umen

t to

the

net c

arry

ing

amou

nt o

f th

e fi

nanc

ial a

sset

or fi

nanc

ial l

iabi

lity.

Rev

isio

ns

to e

xpec

ted

futu

re n

et c

ash

flow

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

niti

on o

f an

inco

me

or e

xpen

se in

pr

ofit o

r los

s.

(i)

Fina

ncia

l ass

ets

at f

air v

alue

thro

ugh

profi

t and

loss

Fina

ncia

l ass

ets

are

clas

sifi

ed a

t “fa

ir v

alue

thro

ugh

profi

t or l

oss”

whe

n th

ey

are

held

for

trad

ing

for t

he p

urpo

se o

f sh

ort-

term

pro

fit t

akin

g. S

uch

asse

ts a

re

subs

eque

ntly

mea

sure

d at

fai

r val

ue w

ith

chan

ges

in c

arry

ing

amou

nt b

eing

in

clud

ed in

pro

fit o

r los

s.

Ass

ets

in th

is c

ateg

ory

are

clas

sifi

ed a

s cu

rren

t ass

ets.

(ii)

Lo

ans

and

rece

ivab

les

Loan

s an

d re

ceiv

able

s ar

e no

n-de

riva

tive

fina

ncia

l ass

ets

wit

h fi

xed

or

dete

rmin

able

bpa

ymen

ts t

hat

are

not

quo

ted

in a

n a

ctiv

e m

arke

t an

d a

re

subs

eque

ntly

mea

sure

d a

t am

orti

sed

cost

. Gai

ns o

r los

ses

are

reco

gnis

ed in

pr

ofit o

r los

s.

Loan

s an

d 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

ithi

n 1

2 m

onth

s af

ter t

he e

nd o

f th

e re

port

ing

peri

od.

(iii)

H

eld-

to-m

atur

ity

inve

stm

ents

Hel

d-to

-mat

urit

y in

vest

men

ts a

re n

on-d

eriv

ativ

e fi

nanc

ial a

sset

s w

ith

fixe

d m

atur

itie

s an

d fi

xed

or d

eter

min

able

pay

men

ts th

at th

e To

wn

has

the

posi

tive

in

tent

ion

and

abili

ty to

hol

d to

mat

urit

y. T

hey

are

subs

eque

ntly

mea

sure

d at

am

orti

sed

cost

. Gai

ns o

r los

ses

are

reco

gnis

ed in

pro

fit o

r los

s.

Hel

d-to

-mat

urit

y in

vest

men

ts a

re in

clud

ed in

cur

rent

ass

ets

whe

re th

ey a

re

expe

cted

to m

atur

e w

ithi

n 1

2 m

onth

s af

ter t

he e

nd o

f th

e re

port

ing

peri

od. A

ll ot

her i

nves

tmen

ts a

re c

lass

ified

as

non-

curr

ent.

(iv)

A

vaila

ble-

for-

sale

fina

ncia

l ass

ets

Ava

ilabl

e-fo

r-sa

le fi

nanc

ial a

sset

s ar

e no

n-de

riva

tive

fina

ncia

l ass

ets

that

are

ei

ther

not

sui

tabl

e to

be

clas

sifi

ed in

to o

ther

cat

egor

ies

of fi

nanc

ial a

sset

s du

e to

thei

r nat

ure,

or t

hey

are

desi

gnat

ed a

s su

ch b

y m

anag

emen

t. Th

ey c

ompr

ise

inve

stm

ents

in th

e eq

uity

of

othe

r ent

itie

s w

here

ther

e is

nei

ther

a fi

xed

mat

urit

y no

r fixe

d or

det

erm

inab

le p

aym

ents

.

They

are

sub

sequ

entl

y m

easu

red

at f

air v

alue

wit

h ch

ange

s in

suc

h fa

ir v

alue

(i

.e. g

ains

or l

osse

s) re

cogn

ised

in o

ther

com

preh

ensi

ve in

com

e (e

xcep

t fo

r im

pair

men

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 p

revi

ousl

y re

cogn

ised

in o

ther

co

mpr

ehen

sive

inco

me

is re

clas

sifi

ed in

to p

rofi

t or l

oss.

Ava

ilabl

e-fo

r-sa

le

fina

ncia

l ass

ets

are

incl

uded

in c

urre

nt a

sset

s, w

here

they

are

exp

ecte

d to

be

sold

wit

hin

12

mon

ths

afte

r the

end

of

the

repo

rtin

g pe

riod

. All

othe

r ava

ilabl

e-fo

r-sa

le fi

nanc

ial a

sset

s ar

e cl

assi

fied

as

non-

curr

ent.

(v)

Fina

ncia

l lia

bilit

ies

Non

-der

ivat

ive

fina

ncia

l lia

bilit

ies

(exc

ludi

ng fi

nanc

ial g

uara

ntee

s) a

re

subs

eque

ntly

mea

sure

d at

am

orti

sed

cost

. Gai

ns o

r los

ses

are

reco

gnis

ed in

pr

ofit o

r los

s.

67Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

1.

SIG

NIF

ICA

NT

ACC

OU

NTI

NG

PO

LICI

ES (

cont

inue

d)

Impa

irm

ent

A fi

nanc

ial a

sset

is d

eem

ed to

be

impa

ired

if, a

nd o

nly

if, t

here

is o

bjec

tive

ev

iden

ce o

f im

pair

men

t as

a re

sult

of

one

or m

ore

even

ts (

a “l

oss

even

t”)

havi

ng o

ccur

red,

whi

ch h

as a

n im

pact

on

the

esti

mat

ed f

utur

e ca

sh fl

ows

of

the

fina

ncia

l ass

et(s

).

In th

e ca

se o

f av

aila

ble-

for-

sale

fina

ncia

l ass

ets,

a s

igni

fica

nt o

r pro

long

ed

decl

ine

in th

e m

arke

t val

ue o

f th

e in

stru

men

t is

cons

ider

ed a

loss

eve

nt.

Impa

irm

ent l

osse

s ar

e re

cogn

ised

in p

rofi

t or l

oss

imm

edia

tely

. Als

o, a

ny

cum

ulat

ive

decl

ine

in f

air v

alue

pre

viou

sly

reco

gnis

ed in

oth

er c

ompr

ehen

sive

in

com

e is

recl

assi

fied

to p

rofi

t or l

oss

at th

is p

oint

.

In th

e ca

se o

f fi

nanc

ial a

sset

s ca

rrie

d at

am

orti

sed

cost

, los

s ev

ents

may

in

clud

e: in

dica

tion

s th

at th

e de

btor

s or

a g

roup

of

debt

ors

are

expe

rien

cing

si

gnifi

cant

fina

ncia

l dif

ficu

lty,

def

ault

or d

elin

quen

cy in

inte

rest

or p

rinc

ipal

pay

men

ts; i

ndic

atio

ns th

at th

ey w

ill

ente

r ban

krup

tcy

or o

ther

fina

ncia

l reo

rgan

isat

ion;

and

cha

nges

in a

rrea

rs o

r ec

onom

ic c

ondi

tion

s th

at c

orre

late

wit

h de

faul

ts.

For fi

nanc

ial a

sset

s ca

rrie

d at

am

orti

sed

cost

(in

clud

ing

loan

s an

d re

ceiv

able

s),

a se

para

te a

llow

ance

acc

ount

is u

sed

to re

duce

the

carr

ying

am

ount

of

fina

ncia

l ass

ets

impa

ired

by

cred

it lo

sses

. Aft

er h

avin

g ta

ken

all p

ossi

ble

mea

sure

s of

reco

very

, if

man

agem

ent e

stab

lishe

s th

at th

e ca

rryi

ng a

mou

nt

cann

ot b

e re

cove

red

by a

ny m

eans

, at t

hat p

oint

the

wri

tten

-off

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

fina

ncia

l as

sets

is re

duce

d di

rect

ly if

no

impa

irm

ent a

mou

nt w

as p

revi

ousl

y re

cogn

ised

in

the

allo

wan

ce a

ccou

nt.

Der

ecog

niti

on

Fina

ncia

l ass

ets

are

dere

cogn

ised

whe

re th

e co

ntra

ctua

l rig

hts

to re

ceip

t of

cash

flow

s ex

pire

or t

he a

sset

is tr

ansf

erre

d to

ano

ther

par

ty w

here

by th

e To

wn

no lo

nger

has

any

sig

nifi

cant

con

tinu

al in

volv

emen

t in

the

risk

s an

d be

nefi

ts

asso

ciat

ed w

ith

the

asse

t.

Fina

ncia

l lia

bilit

ies

are

dere

cogn

ised

whe

re th

e re

late

d ob

ligat

ions

are

di

scha

rged

, can

celle

d or

exp

ired

. The

dif

fere

nce

betw

een

the

carr

ying

am

ount

of

the

fina

ncia

l lia

bilit

y ex

ting

uish

ed o

r tra

nsfe

rred

to a

noth

er p

arty

and

the

fair

val

ue o

f th

e co

nsid

erat

ion

paid

, inc

ludi

ng th

e tr

ansf

er o

f no

n-ca

sh a

sset

s or

liab

iliti

es a

ssum

ed, i

s re

cogn

ised

in p

rofi

t or l

oss.

(l)

Impa

irm

ent o

f A

sset

s

In a

ccor

danc

e w

ith

Aus

tral

ian

Acc

ount

ing

Stan

dard

s th

e To

wn’

s as

sets

, oth

er

than

inve

ntor

ies,

are

ass

esse

d at

eac

h re

port

ing

date

to d

eter

min

e w

heth

er

ther

e is

any

indi

cati

on th

ey m

ay b

e im

pair

ed.

Whe

re s

uch

an in

dica

tion

exi

sts,

an

impa

irm

ent t

est i

s ca

rrie

d ou

t on

the

asse

t by

com

pari

ng th

e re

cove

rabl

e am

ount

of

the

asse

t, b

eing

the

high

er o

f th

e as

set’

s fa

ir v

alue

less

cos

ts to

sel

l and

val

ue in

use

, to

the

asse

t’s

carr

ying

am

ount

.

Any

exc

ess

of th

e as

set’

s ca

rryi

ng a

mou

nt o

ver i

ts re

cove

rabl

e am

ount

is

reco

gnis

ed im

med

iate

ly in

pro

fit o

r los

s, u

nles

s th

e as

set i

s ca

rrie

d at

a

reva

lued

am

ount

in a

ccor

danc

e w

ith

anot

her s

tand

ard

(e.g

. AA

SB 1

16)

whe

reby

any

impa

irm

ent l

oss

of

a re

valu

ed a

sset

is tr

eate

d as

a re

valu

atio

n de

crea

se in

acc

orda

nce

wit

h th

at o

ther

sta

ndar

d.

For n

on-c

ash

gene

rati

ng a

sset

s su

ch a

s ro

ads,

dra

ins,

pub

lic b

uild

ings

and

the

like,

val

ue in

use

is re

pres

ente

d by

the

depr

ecia

ted

repl

acem

ent c

ost o

f th

e as

set.

(m)

Leas

es

Leas

es o

f fi

xed

asse

ts w

here

sub

stan

tial

ly a

ll th

e ri

sks

and

bene

fits

inci

dent

al

to th

e ow

ners

hip

of th

e as

set,

but

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

.

Fina

nce

leas

es a

re c

apit

alis

ed re

cord

ing

an a

sset

and

a li

abili

ty a

t the

low

er

amou

nts

equa

l to

the

fair

val

ue o

f th

e le

ased

pro

pert

y or

the

pres

ent v

alue

of

the

min

imum

leas

e pa

ymen

ts, i

nclu

ding

any

gua

rant

eed

resi

dual

val

ues.

Lea

se

paym

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 f

or th

e pe

riod

.

Leas

ed a

sset

s ar

e de

prec

iate

d on

a s

trai

ght l

ine

basi

s ov

er th

e sh

orte

r of

thei

r es

tim

ated

use

ful l

ives

or t

he le

ase

term

.

Leas

e pa

ymen

ts f

or o

pera

ting

leas

es, w

here

sub

stan

tial

ly a

ll th

e ri

sks

and

bene

fits

rem

ain

wit

h th

e le

ssor

, are

cha

rged

as

expe

nses

in th

e pe

riod

s in

w

hich

they

are

incu

rred

.

Leas

e in

cent

ives

und

er o

pera

ting

leas

es a

re re

cogn

ised

as

a lia

bilit

y an

d am

orti

sed

on a

str

aigh

t lin

e ba

sis

over

the

life

of th

e le

ase

term

.


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

1.

SIG

NIF

ICA

NT

ACC

OU

NTI

NG

PO

LICI

ES (

cont

inue

d)

(n)

Empl

oyee

Ben

efits

(i)

Leav

e En

titl

emen

ts

Ann

ual L

eave

and

Lon

g Se

rvic

e Le

ave

(Sho

rt T

erm

Ben

efits

)

Prov

isio

n is

mad

e fo

r the

Tow

n’s

oblig

atio

ns f

or s

hort

term

em

ploy

ee

bene

fits

. Sh

ort t

erm

em

ploy

ee b

enefi

ts a

re b

enefi

ts (

othe

r tha

n te

rmin

atio

n be

nefi

ts)

that

are

exp

ecte

d to

be

sett

led

who

lly b

efor

e 1

2 m

onth

s af

ter t

he e

nd o

f th

e an

nual

repo

rtin

g pe

riod

in w

hich

the

empl

oyee

s re

nder

the

rela

ted

serv

ice,

incl

udin

g w

ages

, sal

arie

s an

d si

ck

leav

e. S

hort

term

em

ploy

ee b

enefi

ts a

re m

easu

red

at th

e (u

ndis

coun

ted)

am

ount

s ex

pect

ed to

be

paid

whe

n th

e ob

ligat

ion

is s

ettl

ed.

The

Tow

n’s

oblig

atio

ns f

or s

hort

term

em

ploy

ee b

enefi

ts s

uch

as w

ages

, sa

lari

es a

nd s

ick

leav

e ar

e re

cogn

ised

as

a pa

rt o

f cu

rren

t tra

de a

nd o

ther

pa

yabl

es in

the

Stat

emen

t of

Fina

ncia

l Pos

itio

n. T

he T

own’

s ob

ligat

ions

fo

r em

ploy

ees’

ann

ual l

eave

and

long

ser

vice

leav

e en

titl

emen

ts a

re

reco

gnis

ed a

s pr

ovis

ions

in th

e St

atem

ent o

f Fi

nanc

ial P

osit

ion.

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

titl

emen

ts n

ot e

xpec

ted

to b

e se

ttle

d w

holly

wit

hin

12

mon

ths

afte

r th

e en

d of

the

annu

al re

port

ing

peri

od 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 b

enefi

ts a

re m

easu

red

at th

e pr

esen

t val

ue o

f th

e pr

esen

t val

ue o

f th

e ex

pect

ed f

utur

e pa

ymen

ts to

be

mad

e to

em

ploy

ees.

Exp

ecte

d fu

ture

pay

men

ts in

corp

orat

e an

tici

pate

d fu

ture

wag

e an

d sa

lary

leve

ls, d

urat

ions

or s

ervi

ce a

nd e

mpl

oyee

de

part

ures

and

are

dis

coun

ted

at ra

tes

dete

rmin

ed b

y re

fere

nce

to

mar

ket y

ield

s at

the

end

of th

e re

port

ing

peri

od o

n go

vern

men

t bon

ds

that

hav

e m

atur

ity

date

s th

at a

ppro

xim

ate

the

term

s of

the

oblig

atio

ns.

Any

rem

easu

rem

ents

for

cha

nges

in a

ssum

ptio

ns o

f ob

ligat

ions

for

ot

her l

ong

term

em

ploy

ee b

enefi

ts a

re re

cogn

ised

in p

rofi

t or l

oss

in th

e pe

riod

s in

whi

ch th

e ch

ange

s oc

cur.

The

Tow

n’s

oblig

atio

ns f

or lo

ng te

rm e

mpl

oyee

ben

efits

are

pre

sent

ed

as n

on-c

urre

nt p

rovi

sion

s in

its

stat

emen

t of

fina

ncia

l pos

itio

n, e

xcep

t w

here

the

Tow

n do

es n

ot h

ave

an u

ncon

diti

onal

righ

t to

defe

r set

tlem

ent

for a

t lea

st 1

2 m

onth

s af

ter t

he e

nd o

f th

e re

port

ing

peri

od, i

n w

hich

cas

e th

e ob

ligat

ions

are

pre

sent

ed a

s cu

rren

t pro

visi

ons.

(ii)

Su

pera

nnua

tion

The

Tow

n m

eets

the

stat

utor

y re

quir

emen

ts o

f th

e Su

pera

nnua

tion

G

uara

ntee

Act

by

cont

ribu

ting

the

min

imum

9.5

0%

to th

e W

A L

ocal

G

over

nmen

t Sup

eran

nuat

ion

Plan

or t

he C

ity

of P

erth

Sup

eran

nuat

ion

Sche

me

depe

ndin

g on

the

empl

oyee

’s m

embe

rshi

p st

atus

. The

To

wn

also

con

trib

utes

an

addi

tion

al 5

% to

the

WA

Loc

al G

over

nmen

t Su

pera

nnua

tion

Pla

n an

d an

add

itio

nal 5

% to

the

City

of

Pert

h Su

pera

nnua

tion

Sch

eme

whe

re v

olun

tary

con

trib

utio

ns a

re m

ade

by

empl

oyee

s.

The

Tow

n co

ntri

buti

ons

are

char

ged

agai

nst r

even

ue in

the

fina

ncia

l yea

rs

to w

hich

the

paym

ents

rela

te.

(o)

Borr

owin

g Co

sts

Bor

row

ing

cost

s ar

e re

cogn

ised

as

an e

xpen

se w

hen

incu

rred

exc

ept w

here

th

ey a

re d

irec

tly

attr

ibut

able

to th

e ac

quis

itio

n, c

onst

ruct

ion

or p

rodu

ctio

n of

a

qual

ifyi

ng a

sset

. W

here

this

is th

e ca

se, t

hey

are

capi

talis

ed a

s pa

rt o

f th

e co

st

of th

e pa

rtic

ular

ass

et u

ntil

such

tim

e as

the

asse

t is

subs

tant

ially

read

y fo

r its

in

tend

ed u

se o

r sal

e.

(p)

Trad

e an

d O

ther

Pay

able

s

Trad

e pa

yabl

es a

nd o

ther

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

obl

iged

to m

ake

futu

re p

aym

ents

in re

spec

t of

the

purc

hase

of

thes

e go

ods

and

serv

ices

. Th

e am

ount

s ar

e un

secu

red,

are

re

cogn

ised

as

a cu

rren

t lia

bilit

y an

d ar

e no

rmal

ly p

aid

wit

hin

thir

ty d

ays

of

reco

gnit

ion.

(q)

Prov

isio

ns

Prov

isio

ns a

re re

cogn

ised

whe

n th

e To

wn

has

a pr

esen

t leg

al o

r con

stru

ctiv

e ob

ligat

ion

as a

resu

lt o

f pa

st e

vent

s; f

or w

hich

it is

pro

babl

e th

at a

n ou

tflow

of

econ

omic

ben

efits

will

resu

lt a

nd th

at o

utfl

ow c

an b

e re

liabl

y m

easu

red.

Prov

isio

ns a

re m

easu

red

usin

g th

e be

st e

stim

ate

of th

e am

ount

s re

quir

ed to

se

ttle

the

oblig

atio

n at

the

end

of th

e re

port

ing

peri

od.

69Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

1.

SIG

NIF

ICA

NT

ACC

OU

NTI

NG

PO

LICI

ES (

cont

inue

d)

(r)

Inve

stm

ents

in A

ssoc

iate

s

A

n as

soci

ate

is a

n en

tity

ove

r whi

ch th

e To

wn

has

sign

ifica

nt in

flue

nce.

Si

gnifi

cant

infl

uenc

e is

the

pow

er to

par

tici

pate

in th

e fi

nanc

ial o

pera

ting

po

licy

deci

sion

s of

that

ent

ity

but i

s no

t con

trol

or j

oint

con

trol

of

thos

e po

licie

s. In

vest

men

ts in

ass

ocia

tes

are

acco

unte

d fo

r in

the

fina

ncia

l st

atem

ents

by

appl

ying

the

equi

ty m

etho

d of

acc

ount

ing,

whe

reby

the

inve

stm

ent i

s in

itia

lly re

cogn

ised

at c

ost a

nd a

djus

ted

ther

eaft

er f

or th

e po

st-a

cqui

siti

on c

hang

e in

the

Tow

n’s

shar

e of

net

ass

ets

of th

e as

soci

ate.

In

addi

tion

, the

Tow

n’s

shar

e of

the

profi

t or l

oss

of th

e as

soci

ate

is in

clud

ed in

th

e To

wn’

s pr

ofit o

r los

s.

Th

e ca

rryi

ng a

mou

nt o

f th

e in

vest

men

t inc

lude

s, w

here

app

licab

le, g

oodw

ill

rela

ting

to th

e as

soci

ate.

Any

dis

coun

t on

acqu

isit

ion,

whe

reby

the

Tow

n’s

shar

e of

the

net f

air v

alue

of

the

asso

ciat

e ex

ceed

s th

e co

st o

f in

vest

men

t, is

re

cogn

ised

in p

rofi

t or l

oss

in th

e pe

riod

in w

hich

the

inve

stm

ent i

s ac

quir

ed.

Pr

ofits

and

loss

es re

sult

ing

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

the

Tow

n’s

inte

rest

in th

e as

soci

ate.

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 th

e as

soci

ate,

the

Tow

n di

scon

tinu

es re

cogn

isin

g it

s sh

are

of f

urth

er lo

sses

un

less

it h

as in

curr

ed le

gal o

r con

stru

ctiv

e ob

ligat

ions

or m

ade

paym

ents

on

beha

lf o

f th

e as

soci

ate.

Whe

n th

e as

soci

ate

subs

eque

ntly

mak

es p

rofi

ts, t

he

Tow

n w

ill re

sum

e re

cogn

isin

g it

s sh

are

of th

ose

profi

ts o

nce

its

shar

e of

the

profi

ts e

qual

s th

e sh

are

of th

e lo

sses

not

reco

gnis

ed.

(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

cont

rol 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

acti

viti

es a

re re

quir

ed.

Se

para

te jo

int v

entu

re e

ntit

ies

prov

idin

g jo

int v

entu

rers

wit

h an

inte

rest

to

net

ass

ets

are

clas

sifi

ed a

s a

join

t ven

ture

and

acc

ount

ed f

or u

sing

the

equi

ty m

etho

d. R

efer

to n

ote

1(r

) fo

r a d

escr

ipti

on o

f th

e eq

uity

met

hod

of

acco

unti

ng.

Jo

int v

entu

re o

pera

tion

s re

pres

ent a

rran

gem

ents

whe

reby

join

t ope

rato

rs

mai

ntai

n di

rect

inte

rest

s in

eac

h as

set a

nd e

xpos

ure

to e

ach

liabi

lity

of th

e ar

rang

emen

t. Th

e To

wn’

s in

tere

sts

in th

e as

sets

, lia

bilit

ies,

reve

nue

and

expe

nses

of

join

t ope

rati

ons

are

incl

uded

in th

e re

spec

tive

line

item

s of

the

fina

ncia

l sta

tem

ents

. Inf

orm

atio

n ab

out t

he jo

int v

entu

res

is s

et o

ut in

not

es

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 f

or

unpa

id ra

tes

and

serv

ice

char

ges

and

othe

r am

ount

s du

e fr

om th

ird

part

ies

for

good

s so

ld a

nd s

ervi

ces

perf

orm

ed in

the

ordi

nary

cou

rse

of b

usin

ess.

Re

ceiv

able

s ex

pect

ed to

be

colle

cted

wit

hin

12

mon

ths

of th

e en

d of

the

repo

rtin

g pe

riod

are

cla

ssifi

ed a

s cu

rren

t ass

ets.

All

othe

r rec

eiva

bles

are

cl

assi

fied

as

non-

curr

ent a

sset

s.

Co

llect

abili

ty o

f tr

ade

and

othe

r rec

eiva

bles

is re

view

ed o

n an

ong

oing

bas

is.

Deb

ts th

at a

re k

now

n to

be

unco

llect

able

are

wri

tten

off

whe

n id

enti

fied

. A

n al

low

ance

for

dou

btfu

l deb

ts is

rais

ed w

hen

ther

e is

obj

ecti

ve e

vide

nce

that

th

ey w

ill n

ot b

e co

llect

able

.

(u)

Borr

owin

g Co

sts

Bor

row

ing

cost

s ar

e re

cogn

ised

as

an e

xpen

se w

hen

incu

rred

exc

ept w

here

th

ey a

re d

irec

tly

attr

ibut

able

to th

e ac

quis

itio

n, c

onst

ruct

ion

or p

rodu

ctio

n of

a

qual

ifyi

ng a

sset

. W

here

this

is th

e ca

se, t

hey

are

capi

talis

ed a

s pa

rt o

f th

e co

st

of th

e pa

rtic

ular

ass

et u

ntil

such

tim

e as

the

asse

t is

subs

tant

ially

read

y fo

r its

in

tend

ed u

se o

r sal

e.

(v)

Roun

ding

All

figu

res

show

n in

the

fina

ncia

l rep

ort,

oth

er th

an a

rate

in th

e do

llar,

are

roun

ded

to th

e ne

ares

t dol

lar.


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

1.

SIG

NIF

ICA

NT

ACC

OU

NTI

NG

PO

LICI

ES (

cont

inue

d)

(w)

Com

para

tive

s

Whe

re re

quir

ed, c

ompa

rati

ve fi

gure

s ha

ve b

een

adju

sted

to c

onfo

rm w

ith

chan

ges

in th

e pr

esen

tati

on f

or th

e cu

rren

t fina

ncia

l yea

r.

Whe

n th

e To

wn

appl

ies

an a

ccou

ntin

g po

licy

retr

ospe

ctiv

ely,

mak

es a

re

tros

pect

ive

rest

atem

ent o

r rec

lass

ifies

item

s in

its

fina

ncia

l sta

tem

ent,

an

addi

tion

al (

thir

d) s

tate

men

t of

fina

ncia

l pos

itio

n as

at t

he b

egin

ning

of

the

prec

edin

g pe

riod

in a

ddit

ion

to th

e m

inim

um c

ompa

rati

ve fi

nanc

ial s

tate

men

ts

is p

rese

nted

.

Unl

ess

othe

rwis

e st

ated

, the

bud

get c

ompa

rati

ve fi

gure

s sh

own

in th

is a

nnua

l fi

nanc

ial r

epor

t rel

ate

to th

e or

igin

al b

udge

t est

imat

e fo

r the

rele

vant

item

of

disc

losu

re.

(x)

Curr

ent a

nd N

on-C

urre

nt C

lass

ifica

tion

In th

e de

term

inat

ion

of w

heth

er a

n as

set o

r lia

bilit

y is

cur

rent

or n

on-c

urre

nt,

cons

ider

atio

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

cla

ssifi

ed a

s cu

rren

t if

it is

exp

ecte

d to

be

sett

led

wit

hin

the

next

12

mon

ths,

bei

ng th

e To

wn’

s op

erat

iona

l cyc

le.

In th

e ca

se o

f lia

bilit

ies

whe

re th

e To

wn

does

not

hav

e un

cond

itio

nal r

ight

to d

efer

se

ttle

men

t bey

ond

12

mon

ths,

suc

h as

ves

ted

long

ser

vice

leav

e, th

e lia

bilit

y is

cl

assi

fied

as

curr

ent e

ven

if n

ot e

xpec

ted

to b

e re

alis

ed in

the

next

12

mon

ths.

In

vent

orie

s he

ld f

or tr

adin

g ar

e cl

assi

fied

as

curr

ent e

ven

if n

ot e

xpec

ted

to b

e re

alis

ed in

the

next

12

mon

ths

exce

pt f

or la

nd h

eld

for s

ale

whe

re it

is h

eld

as

non-

curr

ent b

ased

on

the

Tow

n’s

inte

ntio

ns to

rele

ase

for s

ale.

(y)

Inte

rest

in J

oint

Ven

ture

The

Tow

n is

a p

arti

cipa

nt in

bot

h th

e M

inda

rie

Regi

onal

Cou

ncil

and

Tam

ala

Park

Reg

iona

l Cou

ncil

wit

h si

x ot

her C

ounc

ils, n

amel

y th

e Ci

ties

of

Joon

dalu

p,

Wan

nero

o, S

tirl

ing,

Per

th a

nd V

ince

nt a

nd th

e To

wn

of V

icto

ria

Park

.

Inte

rest

in J

oint

Ven

ture

is a

ccou

nted

for

by

appl

ying

the

equi

ty m

etho

d.

Und

er th

is m

etho

d of

acc

ount

ing

inte

rest

in a

join

tly

cont

rolle

d en

tity

is

init

ially

reco

rded

at c

ost a

nd a

djus

ted

ther

eaft

er f

or th

e po

st a

cqui

siti

on

chan

ge in

the

vent

urer

’s s

hare

of

net a

sset

s of

the

join

tly

cont

rolle

d en

tity

.

For f

urth

er d

etai

ls re

lati

ng to

the

Inte

rest

in J

oint

Ven

ture

refe

r to

note

31

.

(z)

Ado

ptio

n of

New

and

Rev

ised

Acc

ount

ing

Stan

dard

s

Dur

ing

the

curr

ent y

ear,

the

Coun

cil a

dopt

ed a

ll of

the

new

and

revi

sed

Aus

tral

ian

Stan

dard

s an

d In

terp

reta

tion

s w

hich

wer

e co

mpi

led,

bec

ame

man

dato

ry a

nd w

hich

wer

e ap

plic

able

to it

s op

erat

ions

.

Thes

e ne

w a

nd re

vise

d St

anda

rds

wer

e:

AA

SB 2

01

1-7

AA

SB 2

01

2-3

AA

SB 2

013

-3

AA

SB 2

013

-8

AA

SB 2

013

-9 P

arts

A &

B

Mos

t of

the

Stan

dard

s ad

opte

d ha

d a

min

imal

eff

ect o

n th

e ac

coun

ting

and

re

port

ing

prac

tice

s of

the

Coun

cil a

s th

ey d

id n

ot h

ave

a si

gnifi

cant

impa

ct

on th

e ac

coun

ting

or r

epor

ting

pra

ctic

es o

r wer

e ei

ther

not

app

licab

le, l

arge

ly

edit

oria

l in

natu

re, w

ere

revi

sion

s to

hel

p en

sure

con

sist

ency

wit

h pr

esen

tati

on,

reco

gnit

ion

and

mea

sure

men

t cri

teri

a of

IFR

Ss o

r rel

ated

to to

pics

not

rele

vant

to

ope

rati

ons.

71Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

1.

SIG

NIF

ICA

NT

ACC

OU

NTI

NG

PO

LICI

ES (

cont

inue

d)

(aa)

N

ew A

ccou

ntin

g St

anda

rds

and

Inte

rpre

tati

ons

for A

pplic

atio

n in

Fut

ure

Peri

ods

The

Aus

tral

ian

Acc

ount

ing

Stan

dard

s B

oard

has

issu

ed a

num

ber o

f ne

w a

nd a

men

ded

Acc

ount

ing

Stan

dard

s an

d In

terp

reta

tion

s th

at h

ave

man

dato

ry a

pplic

atio

n da

tes

for f

utur

e re

port

ing

peri

ods,

som

e of

whi

ch a

re

rele

vant

to th

e To

wn.

Man

agem

ent’

s as

sess

men

t of

the

new

and

am

ende

d pr

onou

ncem

ents

that

are

rele

vant

to th

e To

wn,

app

licab

le to

fut

ure

repo

rtin

g pe

riod

s an

d w

hich

hav

e no

t yet

bee

n ad

opte

d ar

e se

t out

as

follo

ws:

Title

Issu

ed

Appl

icab

leIm

pact

(i)AA

SB 9

– F

inan

cial In

stru

men

ts D

ecem

ber

2014

(inc

orpo

ratin

g AA

SB 2

014-

7 an

d AA

SB 2

014-

8)

Dec-

141-

Jan-

18Ni

l – T

he o

bjec

tive

of th

is St

anda

rd is

to im

prov

e an

d sim

plify

the

appr

oach

for c

lassifi

catio

n an

d m

easu

rem

ent o

f fina

ncial

ass

ets

com

pare

d wi

th th

e re

quire

men

ts o

f AAS

B 13

9. G

iven

the

natu

re

of th

e fin

ancia

l ass

ets

of th

e Co

uncil

, it i

s no

t ant

icipa

ted

the

stan

dard

will

have

any

mat

erial

effe

ct.

(ii)AA

SB 2

010

– 7

Amen

dmen

ts to

Aus

tralia

n Ac

coun

ting

Stan

dard

s ar

ising

from

AAS

B 9

(Dec

embe

r 201

0)

[AAS

B 1,

3, 4

, 5, 7

, 101

, 102

, 108

, 11

2, 1

18, 1

20, 1

21, 1

27, 1

28, 1

31,

132,

136

, 137

, 139

, 102

3 &

1038

and

In

terp

reta

tions

2, 5

, 10,

12,

19

& 12

7)

Sep-

121-

Jan-

18Ni

l – T

he re

visio

ns e

mbo

died

in th

is st

anda

rd g

ive e

ffect

to

the

cons

eque

ntial

cha

nges

aris

ing

from

the

issua

nce

of A

ASB

9 wh

ich is

not

ant

icipa

ted

to h

ave

any

mat

erial

effe

ct o

n th

e Co

uncil

(refe

r (i)

abov

e).

(iii)

AASB

15

Reve

nue

from

Con

tract

s wi

th

Cust

omer

sDe

c-14

1-Ja

n-17

This

Stan

dard

est

ablis

hes

prin

ciple

s fo

r ent

ities

to a

pply

to re

port

usef

ul in

form

atio

n to

use

rs o

f fina

ncial

sta

tem

ents

abo

ut th

e na

ture

, am

ount

, tim

ing

and

unce

rtain

ty o

f rev

enue

and

cas

h flo

ws

arisi

ng fr

om a

con

tract

with

a c

usto

mer

.

The

effe

ct o

f thi

s St

anda

rd w

ill de

pend

upo

n th

e na

ture

of

futu

re tr

ansa

ctio

ns th

e Co

uncil

has

with

thos

e th

ird p

artie

s it

has

deali

ngs

with

. It

may

or m

ay n

ot b

e sig

nific

ant.

(iv)

AASB

201

3-9

Am

endm

ents

to A

ustra

lian

Acco

untin

g St

anda

rds

– Co

ncep

tual

Fram

ewor

k, M

ater

iality

and

Fin

ancia

l in

stru

men

ts.

[O

pera

tive

date

: Par

t C F

inan

cial in

stru

men

ts

- 1

Janu

ary

2015

]

Dec-

13Re

fer t

itle

colu

mn

Part

C of

this

Stan

dard

mak

es c

onse

quen

tial a

men

dmen

ts

to A

ASB

9 an

d nu

mer

ous

othe

r Sta

ndar

ds a

nd a

men

ds th

e pe

rmiss

ions

aro

und

certa

in a

pplic

atio

ns re

latin

g to

fina

ncial

lia

biliti

es re

issue

d at

fair

valu

e. A

s th

e bu

lk of

cha

nges

relat

e ei

ther

to

edi

toria

l or r

efer

ence

cha

nges

it is

not

exp

ecte

d to

hav

e a

signi

fican

t im

pact

on

the

Coun

cil.

(v)

AASB

201

4-3

Am

endm

ents

to A

ustra

lian

Acco

untin

g St

anda

rds

- Acc

ount

ing

for

Acqu

isitio

ns o

f Int

eres

ts in

Joi

nt O

pera

tions

[A

ASB

1 &

AASB

11]

Aug-

141-

Jan-

16Th

is St

anda

rd a

men

ds A

ASB

11 J

oint

Arra

ngem

ents

to re

quire

th

e ac

quire

r of a

n in

tere

st (b

oth

initia

l and

add

itiona

l) in

a jo

int

oper

atio

n in

whi

ch th

e ac

tivity

con

stitu

tes

a bu

sines

s, as

defi

ned

in A

ASB

3: B

usin

ess

Com

bina

tions

, to

appl

y all

of t

he p

rincip

les

on b

usin

ess

com

bina

tions

acc

ount

ing

in A

ASB

3 an

d ot

her

Aust

ralia

n Ac

coun

ting

Stan

dard

s ex

cept

for t

hose

prin

ciple

s th

at c

onflic

t with

the

guid

ance

in A

ASB

11; a

nd d

isclo

se th

e in

form

atio

n re

quire

d by

AAS

B 3

and

othe

r Aus

tralia

n Ac

coun

ting

Stan

dard

s fo

r bus

ines

s co

mbi

natio

ns.

Sinc

e ad

optio

n of

this

Stan

dard

wou

ld im

pact

onl

y ac

quisi

tions

of

inte

rest

s in

join

t ope

ratio

ns o

n or

afte

r 1 J

anua

ry 2

016,

m

anag

emen

t bel

ieve

s it

is im

prac

ticab

le a

t thi

s st

age

to p

rovid

e a

reas

onab

le e

stim

ate

of s

uch

impa

ct o

n th

e Co

uncil

’s fin

ancia

l st

atem

ents.

(vi)

AASB

201

4-4

Amen

dmen

ts to

Aus

tralia

n Ac

coun

ting

Stan

dard

s -

Clar

ificat

ion

of

Acce

ptab

le M

etho

ds o

f Dep

recia

tion

and

Amor

tisat

ion

Aug-

141-

Jan-

16Th

is St

anda

rd a

men

ds A

ASB

116

and

AASB

138

to e

stabl

ish th

e pr

incip

le fo

r the

bas

is of

dep

recia

tion

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 be

nefit

s of

an

asse

t. It

also

clar

ifies

the

use

of re

venu

e-ba

sed

met

hods

to c

alcula

te th

e de

prec

iatio

n of

an

asse

t is

not a

ppro

priat

e no

r is

reve

nue

gene

rally

an

appr

opria

te b

asis

for m

easu

ring

the

cons

umpt

ion

of th

e ec

onom

ic be

nefit

s em

bodi

ed in

an

intan

gibl

e as

set.

[AAS

B 11

6 &

138]

Give

n th

e Co

uncil

cur

rent

ly us

es th

e ex

pect

ed p

atte

rn o

f co

nsum

ptio

n of

the

futu

re e

cono

mic

bene

fits

of a

n as

set a

s th

e ba

sis o

f calc

ulat

ion

of d

epre

ciatio

n, it

is n

ot e

xpec

ted

to h

ave

a sig

nific

ant i

mpa

ct.

(vii)

AASB

201

4-5

Amen

dmen

ts to

Aus

tralia

n Ac

coun

ting

Stan

dard

s ar

ising

from

AAS

B 15

Dec-

141-

Jan-

17Co

nseq

uent

ial c

hang

es to

var

ious

Sta

ndar

ds a

risin

g fro

m th

e iss

uanc

e of

AAS

B 15

.

It wi

ll req

uire

cha

nges

to re

flect

the

impa

ct o

f AAS

B 15

.

(viii)

AASB

201

5-2

Amen

dmen

ts to

Aus

tralia

n Ac

coun

ting

Stan

dard

s -

Disc

losu

re.

Initia

tive:

Am

endm

ents

to A

ASB

101

Jan-

151-

Jan-

16Th

is St

anda

rd a

men

ds A

ASB

101

to p

rovid

e cla

rifica

tion

rega

rdin

g th

e di

sclo

sure

requ

irem

ents

in A

ASB

101.

Spe

cifica

lly,

the

Stan

dard

pro

pose

s na

rrow-

focu

s am

endm

ents

to a

ddre

ss

som

e of

the

conc

erns

exp

ress

ed a

bout

exis

ting

pres

enta

tion

and

disc

losu

re re

quire

men

ts a

nd to

ens

ure

entit

ies

are

able

to

use

judg

emen

t whe

n ap

plyin

g a

Stan

dard

in d

eter

min

ing

what

in

form

atio

n to

disc

lose

in th

eir fi

nanc

ial s

tate

men

ts.

[AAS

B 7,

101

, 134

& 1

049]

This

Stan

dard

also

mak

es e

dito

rial a

nd c

onse

quen

tial

amen

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 a

ntici

pate

d it

will h

ave

any

signi

fican

t im

pact

on

disc

losu

res.

(ix)

AASB

201

5-3

Amen

dmen

ts to

Aus

tralia

n Ac

coun

ting

Stan

dard

s ar

ising

from

the

with

draw

al of

AAS

B 10

31 M

ater

iality

.

Jan-

151-

Jul-1

5Th

is St

anda

rd c

ompl

etes

the

with

draw

al of

refe

renc

es to

AAS

B 10

31 in

all A

ustra

lian

Acco

untin

g St

anda

rds

and

Inte

rpre

tatio

ns,

allow

ing

it to

be

com

plet

ely

with

draw

n.

It is

not a

ntici

pate

d it

will h

ave

a sig

nific

ant i

mpa

ct a

s th

e pr

incip

les

of m

ater

iality

rem

ain la

rgel

y un

chan

ged.

(x)

AASB

201

5-6

Amen

dmen

ts to

Aus

tralia

n Ac

coun

ting

Stan

dard

s -

Exte

ndin

g Re

lated

Pa

rty D

isclo

sure

s to

Not

-for-P

rofit

Pub

lic

Sect

or E

ntitie

s [A

ASB

10, 1

24 &

104

9]

Mar-

151-

Jul-1

6Th

e ob

ject

ive o

f thi

s St

anda

rd is

to e

xten

d th

e sc

ope

of A

ASB

124

Relat

ed P

arty

Disc

losu

res

to in

clude

not

-for-p

rofit

sec

tor

entit

ies.

The

Stan

dard

is e

xpec

ted

to h

ave

a sig

nific

ant d

isclo

sure

im

pact

on

the

finan

cial r

epor

t of t

he C

ounc

il as

both

Ele

cted

M

embe

rs a

nd S

enio

r Man

agem

ent w

ill be

dee

med

to b

e Ke

y M

anag

emen

t Per

sonn

el a

nd re

sulta

nt d

isclo

sure

s wi

ll be

nece

ssar

y.

Note

s:(1

) App

licab

le to

repo

rting

per

iods

com

men

cing

on o

r afte

r the

give

n da

te.


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

2.

COM

PON

ENT

FUN

CTIO

NS/

ACT

IVIT

IES

In o

rder

to d

isch

arge

its

resp

onsi

bilit

ies

to th

e co

mm

unit

y, th

e To

wn

has

deve

lope

d a

set o

f op

erat

iona

l and

fina

ncia

l obj

ecti

ves.

The

se o

bjec

tive

s ha

ve b

een

esta

blis

hed

both

on

an o

vera

ll ba

sis

refl

ecte

d by

the

Tow

n’s

Com

mun

ity

Stra

tegi

c Pl

an a

nd f

or

each

of

its

broa

d ac

tivi

ties

/pro

gram

s. T

hese

obj

ecti

ves

prov

ide

a fr

amew

ork

for

the

futu

re d

irec

tion

of

the

Tow

n of

Cam

brid

ge a

nd in

clud

e a

focu

s on

the

follo

win

g pr

iori

ty a

reas

:

Our

Com

mun

ity

Life

• A

sen

se o

f co

mm

unit

y, p

ride

and

bel

ongi

ng.

• Q

ualit

y lo

cal p

arks

and

ope

n sp

aces

for

the

com

mun

ity

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

the

char

acte

r and

resp

onsi

ve to

fut

ure

need

s.

• Su

cces

sful

com

mer

cial

, ret

ail a

nd s

ocia

l hub

s.

• Ef

fici

ent t

rans

port

net

wor

ks.

Our

Nat

ural

Env

iron

men

t

• Co

unci

l is

envi

ronm

enta

lly re

spon

sibl

e an

d le

ads

by e

xam

ple.

• A

com

mun

ity

that

em

brac

es e

nvir

onm

enta

lly re

spon

sibl

e pr

acti

ces.

Our

Cou

ncil

• Tr

ansp

aren

t, a

ccou

ntab

le g

over

nanc

e.

• Th

e To

wn

is a

pro

acti

ve 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

Com

preh

ensi

ve In

com

e is

pre

sent

ed in

a p

rogr

am f

orm

at u

sing

the

follo

win

g cl

assi

fica

tion

s:

Gen

eral

Pur

pose

Fun

ding

Gen

eral

rate

reve

nue,

inte

rest

for

late

pay

men

t, e

x gr

atia

rate

s, g

ener

al p

urpo

se

gran

ts, u

ntie

d ro

ad g

rant

s, in

tere

st o

n de

ferr

ed ra

tes,

inve

stm

ent r

etur

ns.

Gov

erna

nce

Mem

bers

of

Coun

cil,

civi

c re

cept

ions

and

fun

ctio

ns, p

ublic

rela

tion

s, e

lect

oral

, ad

min

istr

atio

n, fi

nanc

e.

Law

, Ord

er &

Pub

lic S

afet

y

Fire

pre

vent

ion,

incl

udin

g th

e Em

erge

ncy

Serv

ices

Lev

y, c

lear

ing

for fi

re h

azar

ds,

anim

al c

ontr

ol, d

og p

ound

, loc

al la

w c

ontr

ol, p

ublic

sec

urit

y, c

ivil

emer

genc

y se

rvic

es, b

each

insp

ecti

ons,

sur

f lif

esav

ing

club

s, n

eigh

bour

hood

wat

ch.

Hea

lth

Mat

erna

l and

infa

nt h

ealt

h, im

mun

isat

ion,

foo

d co

ntro

l, he

alth

insp

ecti

ons.

Educ

atio

n &

Wel

fare

Pre-

scho

ols,

chi

ld c

are

cent

res,

you

th s

ervi

ces,

age

d an

d di

sabl

ed, s

enio

r cit

izen

s’

cent

res,

wel

fare

adm

inis

trat

ion,

don

atio

ns to

wel

fare

org

anis

atio

ns.

Com

mun

ity

Am

enit

ies

Rubb

ish

colle

ctio

ns, r

ecyc

ling,

refu

se s

ite

oper

atio

ns, l

itte

r con

trol

, pub

lic li

tter

bin

s,

tow

n pl

anni

ng c

ontr

ol/s

tudi

es.

Recr

eati

on a

nd C

ultu

re

Pu

blic

hal

ls, c

ivic

cen

tres

, bea

ches

and

sw

imm

ing

pool

, gol

f co

urse

, par

ks, s

port

s gr

ound

s, s

port

s cl

ubs,

com

mun

ity

recr

eati

on p

rogr

ams,

cyc

lew

ays,

libr

ary,

co

mm

unit

y ar

ts p

rogr

am, a

mph

ithe

atre

.

Tran

spor

t

Road

s, f

ootp

aths

, rig

hts

of w

ay, d

rain

age,

road

ver

ges,

med

ian

stri

ps, u

nder

pass

es,

stre

et li

ghti

ng, s

tree

t cle

anin

g, s

tree

t tre

es, t

raffi

c su

rvey

s, tr

affi

c m

anag

emen

t,

unde

rgro

und

pow

er.

Econ

omic

Ser

vice

s

Bui

ldin

g co

ntro

l, sw

imm

ing

pool

insp

ecti

ons.

Oth

er P

rope

rty

Serv

ices

Publ

ic w

orks

ove

rhea

ds, p

lant

/veh

icle

ope

rati

ons,

oth

er p

rope

rty.

73Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

3.

ASS

ETS

CLA

SSIF

IED

BY

FUN

CTIO

N A

ND

ACT

IVIT

Y

30 J

une

2015

30 J

une

2014

$$

Gene

ral P

urpo

se F

undi

ng47

3,60

7 50

8,97

2

Gove

rnan

ce43

,148

,940

50

,153

,720

Law,

Ord

er a

nd P

ublic

Saf

ety

13,6

72,8

05

4,37

2,68

7

Heal

th23

,386

33

,031

Educ

atio

n an

d W

elfa

re34

6,34

9 31

4,29

5

Com

mun

ity A

men

ities

6,41

4,91

6 4,

368,

157

Recr

eatio

n an

d Cu

lture

103,

205,

287

94,1

30,3

15

Tran

spor

t92

,945

,786

69

,970

,632

Econ

omic

Ser

vices

27,8

84

48,6

17

Othe

r Pro

perty

and

Ser

vices

70,0

35,3

52

70,9

53,3

40

330,

294,

312

294,

853,

766

4.

DEP

RECI

ATIO

N(a

) D

epre

ciat

ion

by A

sset

Cla

ssifi

cati

on

Dep

reci

atio

n ex

pens

e fo

r the

fina

ncia

l yea

r was

cha

rged

in re

spec

t of:

30 J

une

2015

30 J

une

2014

$$

Build

ings

1,86

5,56

21,

661,

743

Offic

e Fu

rnitu

re a

nd E

quip

men

t49

5,49

046

6,72

4

Exte

rnal

Pla

nt a

nd E

quip

men

t41

5,62

139

8,71

8

Infra

stru

ctur

e As

sets

4,13

1,34

33,

973,

522

6,90

8,01

66,

500,

707

(b)

D

epre

ciat

ion

by P

rogr

am

Dep

reci

atio

n ex

pens

e fo

r the

fina

ncia

l yea

r was

cha

rged

in re

spec

t of:

30 J

une

2015

30 J

une

2014

$$

Gene

ral P

urpo

se F

undi

ng14

626

5

Gove

rnan

ce53

5,69

246

7,65

5

Law,

Ord

er a

nd P

ublic

Saf

ety

94,1

2096

,643

Heal

th10

,195

8,73

6

Educ

atio

n an

d W

elfa

re32

,651

28,5

61

Com

mun

ity A

men

ities

193,

233

126,

295

Recr

eatio

n an

d Cu

lture

3,11

1,66

82,

992,

541

Tran

spor

t2,

681,

524

2,54

2,58

6

Econ

omic

Ser

vices

7,33

28,

795

Othe

r Pro

perty

and

Ser

vices

241,

455

228,

630

6,90

8,01

66,

500,

707


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

5.

CON

DIT

ION

S O

VER

CON

TRIB

UTI

ON

SG

rant

s w

hich

wer

e re

cogn

ised

as

reve

nues

dur

ing

the

year

and

whi

ch w

ere

obta

ined

on

the

cond

itio

n th

at th

ey b

e ex

pend

ed o

n th

e ac

quis

itio

n of

non

-cur

rent

ass

ets

but

have

yet

to b

e ap

plie

d in

that

man

ner a

t rep

orti

ng d

ate

wer

e:

30 J

une

2015

30 J

une

2014

$$

MRW

A Re

habi

litatio

n 7

,979

7

0,23

4

Cap

Grnt

Sta

te 3

5,41

6 -

Capi

tal C

ontri

b 5

,000

-

48,

395

70,

234

Gra

nts

whi

ch w

ere

reco

gnis

ed a

s re

venu

es in

the

prev

ious

yea

r and

whi

ch w

ere

expe

nded

in th

e cu

rren

t rep

orti

ng p

erio

d in

the

man

ner s

peci

fied

by

the

cont

ribu

tor

wer

e:

30 J

une

2015

30 J

une

2014

$$

MRW

A Re

habi

litatio

n 7

0,23

4 1

6,60

9

Fede

ral B

lacks

pot

-

11,

291

70,

234

27,

900

6.

TRA

DE

AN

D O

THER

REC

EIVA

BLES

Curr

ent

30 J

une

2015

30 J

une

2014

$$

Rate

s 1

33,1

48

135

,327

Unde

rgro

und

Powe

r Cha

rges

-

3,6

21

GST

Rece

ivabl

e 5

78,5

61

662

,190

Fees

and

Cha

rges

35,

951

190

,129

Less

Pro

visio

n fo

r Im

pairm

ent o

f Rec

eiva

bles

(3,8

28)

(3,8

28)

Gran

ts R

ecei

vabl

e -

6

0,93

2

Othe

r Rec

eiva

bles

1,0

77,1

16

676

,717

1,8

20,9

48

1,7

25,0

88

Non

Curr

ent

30 J

une

2015

30 J

une

2014

$$

Unde

rgro

und

Powe

r Cha

rges

Def

erre

d 2

5,71

5 2

8,83

3

Pens

ione

r’s R

ates

Def

erre

d 2

99,0

59

331

,721

Defe

r Rat

es E

SL 3

6,83

3 3

6,45

6

361

,607

3

97,0

10

Curr

ent

30 J

une

2015

30 J

une

2014

$$

Prep

aym

ents

105

,329

1

22,2

81

105

,329

1

22,2

81

8.

INVE

NTO

RIES

Curr

ent

30 J

une

2015

30 J

une

2014

$$

Land

Hel

d Fo

r Res

ale 2

6,13

5 1

,076

,042

Depo

t Inv

ento

ry 3

4,08

1 3

6,47

9

Bold

Par

k Aq

uatic

Cen

tre In

vent

ory

3,1

54

19,

345

Wem

bley

Gol

f Cou

rse

Inve

ntor

y 2

33,2

27

171

,836

Tam

ala P

ark

Land

Hel

d fo

r Res

ale 2

16,7

00

6,9

62

513

,297

1

,310

,664

Pens

ione

r’s R

ates

Def

erre

d

The

amou

nts

of $

25

,71

5 a

nd $

29

9,0

59

rela

te to

Cou

ncil

Rate

s de

ferr

ed b

y pe

nsio

ners

in a

ccor

danc

e w

ith

the

Rate

s an

d Ch

arge

s (R

ebat

es a

nd D

efer

men

ts A

ct)

19

92

. In

add

itio

n, d

efer

red

rate

s of

$27

,43

8 re

lati

ng to

the

19

94

fina

ncia

l yea

r and

pr

ior a

re c

olle

ctab

le f

or a

nd o

n be

half

of

the

City

of

Pert

h.

7.

O

THER

CU

RREN

T A

SSET

S

75Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

9

(a)

CASH

AN

D C

ASH

EQ

UIV

ALE

NTS

In

vest

men

ts o

f ca

sh f

unds

are

mad

e in

acc

orda

nce

wit

h th

e W

este

rn A

ustr

alia

Tr

uste

e A

ct 1

96

2 (

as a

men

ded)

.

Curr

ent

30 J

une

2015

30 J

une

2014

$$

Cash

at b

ank

and

on h

and

1,0

06,2

25

918

,701

Term

Dep

osits

31,

538,

747

38,

683,

045

32,

544,

972

39,

601,

746

(b

) R

ESTR

ICTE

D C

ASH

AN

D IN

VEST

MEN

TS

Curr

ent

30 J

une

2015

30 J

une

2014

$$

Cash

and

cas

h eq

uiva

lent

s (s

ee N

ote

9 (a

)) 3

2,54

4,97

2 3

9,60

1,74

6

Othe

r Fin

ancia

l Ass

ets

- No

n-Cu

rrent

(See

Not

e 30

) 6

41,7

07

627

,245

33,

186,

679

40,

228,

991

Unre

stric

ted

10,

315,

815

8,3

46,2

79

Rest

ricte

d 2

2,87

0,86

4 3

1,88

2,71

2

33,

186,

679

40,

228,

991

The

follo

win

g re

stri

ctio

ns h

ave

been

impo

sed

by re

gula

tion

s or

oth

er e

xter

nally

im

pose

d Re

quir

emen

ts:

Curr

ent

30 J

une

2015

30 J

une

2014

$$

Rese

rves

(see

Not

e 14

)

- A

rea

Impr

ovem

ent R

eser

ve 1

,709

,288

7

65,4

01

- C

omm

unity

Fac

ilites

954

,670

1

,097

,441

- A

sset

Man

agem

ent

956

,836

9

99,7

76

- W

aste

Man

agem

ent

283

,101

4

46

- C

lubs

and

Ass

ociat

ions

876

,780

7

46,0

98

- D

evel

opm

ent C

ontri

butio

ns -

Par

k 9

32,7

50

432

,000

- D

evel

opm

ent C

ontri

butio

ns -

Pub

lic A

rt 5

5,00

0 -

Cam

brid

ge E

ndow

men

t Lan

ds A

ccou

nt (S

ee N

ote

14)

17,

034,

884

27,

619,

352

Unsp

ent G

rant

s/Co

ntrib

utio

ns (s

ee N

ote

5) 4

8,39

5 7

0,23

4

Wor

ks B

onds

and

Dep

osits

19,

160

151

,964

22,

870,

864

31,

882,

712


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

9 (c

) EA

RNIN

GS

ON

INVE

STM

ENTS

Earn

ings

on

Inve

stm

ents

30 J

une

2015

Ac

tual

30 J

une

2015

Bu

dget

30 J

une

2014

Ac

tual

$$

$

Mun

icipa

l 5

04,4

85

600

,000

55

4,27

5

Rese

rve

137

,894

4

3,50

0 10

6,59

8

Cam

brid

ge E

ndow

men

t Lan

ds A

ccou

nt 9

30,7

32

720

,000

67

6,68

8

1,5

73,1

11

1,3

63,5

00

1,33

7,56

1

10.

TRA

DE

AN

D O

THER

PAY

ABL

ES

Curr

ent

30 J

une

2015

30 J

une

2014

$$

Trad

e Cr

edito

rs 3

,018

,979

2

,707

,777

Inco

me

Rece

ived

in A

dvan

ce 2

5,97

1 2

6,21

4

Accr

ued

Expe

nses

2,4

73,3

78

888

,640

Wor

k Bo

nds

and

Depo

sits

19,

160

151

,963

GST

Paya

ble

189

,545

2

81,1

89

Sund

ry C

redi

tors

891

,122

8

19,6

63

6,6

18,1

55

4,87

5,44

6

11.

PRO

VIS

ION

S

30 J

une

2015

30 J

une

2014

$$

Curre

nt2,

421,

762

2,42

9,69

3

Non-

curre

nt32

1,69

032

7,06

5

2,74

3,45

22,

756,

758

Prov

isio

n fo

r Ann

ual

Leav

ePr

ovis

ion

for L

ong

Serv

ice

Leav

eTo

tal

$$

$

Open

ing

balan

ce a

s at

1 J

uly

2014

1,2

11,5

841,

545,

174

2,75

6,75

8

Addi

tiona

l Pro

visio

ns92

8,56

127

4,61

11,

203,

172

Amou

nts

used

(919

,459

)(2

97,0

19)

(1,2

16,4

78)

1,22

0,68

61,

522,

766

2,74

3,45

2

77Financial Report

12.

BORR

OW

ING

SCu

rren

t30

Jun

e 20

1530

Jun

e 20

14

$$

Loan

1 -

Wem

bley

Gol

f Cou

rse

Irrig

atio

n Lo

an P

rincip

al 1

58,2

00

152

,873

Loan

3 -

Wem

bley

Gol

f Cou

rse

Drivi

ng R

ange

Loa

n Pr

incip

al 4

14,1

33

369

,121

Loan

4 -

Acq

uisit

ion

of 3

9 So

uthp

ort S

treet

-

1,0

72,9

24

Loan

5 -

Wem

bley

Spo

rts P

ark

-

600

,000

HP L

oan

- Adm

inist

ratio

n Tr

ansp

orta

ble

Offic

e 1

8,15

2 1

5,40

5

590,

485

2,21

0,32

3

Non

Curr

ent

30 J

une

2015

30 J

une

2014

$$

Loan

1 -

Wem

bley

Gol

f Cou

rse

Irrig

atio

n Lo

an P

rincip

al 1

,481

,051

1

,639

,251

Loan

3 -

Wem

bley

Gol

f Cou

rse

Drivi

ng R

ange

Loa

n Pr

incip

al 1

0,01

6,74

6 1

0,43

0,87

9

Loan

4 -

Acq

uisit

ion

of 3

9 So

uthp

ort S

treet

1,1

07,1

01

-

HP L

oan

- Adm

inist

ratio

n Tr

ansp

orta

ble

Offic

e 1

9,62

0 3

9,29

7

12,6

24,5

18

12,1

09,4

27

All

repa

ymen

ts w

ith

resp

ect t

o th

e lo

an f

or th

e W

embl

ey G

olf

Cour

se a

re s

ourc

ed

from

gol

f co

urse

reve

nue.

New

Loa

ns

The

acqu

isit

ion

of 3

9 S

outh

port

Str

eet L

oan

was

refi

nanc

ed in

May

20

15

bas

ed o

n in

tere

st p

ayab

le o

nly

term

s.

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

12.

BORR

OW

ING

S (c

onti

nued

)

Loan

Rep

aym

ents

Part

icul

ars

Prin

cipa

l 1

July

201

4Ne

w L

oans

Inte

rest

Ca

pita

lised

20

14/2

015

Inte

rest

Re

paym

ents

20

14/2

015

Prin

cipa

lRe

paym

ents

20

14/2

015

Prin

cipa

l 30

Jun

e 20

15

Actu

alAc

tual

Budg

etAc

tual

Budg

etAc

tual

Budg

et

$$

$$

$$

$$

$

Gove

rnan

ce

HP L

oan

Adm

inist

ratio

n Tr

ansp

orta

ble

Offic

e 5

4,70

2 -

-

3,

400

3,30

0 16

,930

15

,100

37

,772

33

,600

54,

702

-

-

3,40

0 3,

300

16,9

30

15,1

00

37,7

72

33,6

00

Recr

eatio

n an

d Cu

lture

Loan

No.

1

Wem

bley

Gol

f Cou

rse

Irrig

atio

n Sy

stem

1,

792,

124

-

-

60,0

32

59,0

00

152,

873

152,

900

1,63

9,25

1 1,

639,

300

Loan

No.

3

Wem

bley

Gol

f Cou

rse

Drivi

ng R

ange

, Pro

shop

& In

frast

ruct

ure

10,8

00,0

00

-

-

322,

362

285,

800

369,

121

369,

100

10,4

30,8

79

10,4

30,9

00

Loan

No.

5

Wem

bley

Spo

rts P

ark

600

,000

-

-

1

7,77

1 -

6

00,0

00

617

,000

-

-

13,

192,

124

-

-

400,

165

344,

800

1,12

1,99

4 1,

139,

000

12,0

70,1

30

12,0

70,2

00

Othe

r Pro

pert

y &

Ser

vice

s

Loan

No.

4

Acqu

isitio

n of

39

Sout

hpor

t Stre

et 1

,072

,924

-

3

4,17

7 -

3

8,00

0 1

,107

,101

-

-

1

,111

,000

Acqu

isitio

n of

39

Sout

hpor

t Stre

et (R

e-fin

ancin

g) -

1

,107

,101

-

5

,243

-

-

-

1

,107

,101

-

1,0

72,9

24

1,1

07,1

01

34,

177

5,24

3 3

8,00

0 1,

107,

101

-

1,10

7,10

1 1,

111,

000

14,3

19,7

50 1

,107

,101

3

4,17

7 40

8,80

838

6,10

02,

246,

025

1,1

54,1

00

13,2

15,0

0313

,214

,800

79Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

12.

BORR

OW

ING

S (c

onti

nued

)Th

e in

tere

st s

how

n in

the

sche

dule

for

bot

h th

e W

embl

ey G

olf

Cour

se Ir

riga

tion

Sy

stem

Loa

n an

d W

embl

ey G

olf

Cour

se D

rivi

ng R

ange

, Pro

-sho

p an

d In

fras

truc

ture

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

an

d ac

crue

d fo

r the

yea

r end

ed 3

0 J

une

20

15

.

Tota

l loa

n fa

cilit

y fo

r the

Wem

bley

Gol

f Co

urse

Dri

ving

Ran

ge, P

ro-s

hop

and

Infr

astr

uctu

re D

evel

opm

ent i

s fo

r $14

.7 m

illio

n ($

10

.8 m

illio

n fr

om W

ATC,

$3

.9

mill

ion

ELA

). T

he d

evel

opm

ent h

as b

een

com

plet

ed.

Inte

rest

Rat

e Ri

sk

Loan

No.

1 -

Irri

gati

on S

yste

m –

Wem

bley

Gol

f Co

urse

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

lo

an w

ith

a fi

xed

inte

rest

rate

dur

ing

that

per

iod

of 3

.43

% p

er a

nnum

. Th

e in

tere

st

paya

ble

as a

resu

lt o

f bo

rrow

ings

is a

s fo

llow

s:

30 J

une

2015

30 J

une

2014

$$

Fixe

d In

tere

st ra

te m

atur

ing

- w

ithin

one

yea

r 6

3,55

3 5

9,08

1

- w

ithin

one

to fi

ve y

ears

156

,628

1

80,9

88

220,

181

240,

069

Loan

No.

3 -

Dri

ving

Ran

ge, P

ro-s

hop

and

Infr

astr

uctu

re D

evel

opm

ent -

Wem

bley

G

olf

Cour

se

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

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

paya

ble

as a

resu

lt o

f bo

rrow

ings

as

follo

ws:

30 J

une

2015

30 J

une

2014

$$

Fixe

d In

tere

st ra

te m

atur

ing

- w

ithin

one

yea

r 3

72,0

70

286

,465

- w

ithin

one

to fi

ve y

ears

-

324

,550

372,

070

611,

015

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

five

yea

r ter

m w

ith

a fi

xed

inte

rest

rate

dur

ing

that

per

iod

of

6.9

9%

per

ann

um.

The

inte

rest

pay

able

as

a re

sult

of

the

agre

emen

t is

as f

ollo

ws:

30 J

une

2015

30 J

une

2014

$$

Fixe

d In

tere

st ra

te m

atur

ing

- w

ithin

one

yea

r 2

,179

3

,400

- w

ithin

one

to fi

ve y

ears

880

3

,059

3,05

9 6,

459

Loan

No.

4 -

Acq

uisi

tion

of

Sout

hpor

t 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 th

ree

year

te

rm w

ith

a fi

xed

inte

rest

rate

dur

ing

that

per

iod

of 3

.85

% p

er a

nnum

. Th

e in

tere

st

paya

ble

is b

eing

cap

ital

ised

aga

inst

the

loan

and

will

be

paya

ble

upon

mat

urit

y of

the

loan

as

a re

sult

of

the

agre

emen

t as

follo

ws:

30 J

une

2015

30 J

une

2014

$$

Fixe

d In

tere

st ra

te m

atur

ing

- w

ithin

one

yea

r 4

7,27

3 1

14,1

36

- w

ithin

one

to fi

ve y

ears

189

,093

-

236,

366

114,

136


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

13.

PRO

PERT

Y, P

LAN

T &

EQ

UIP

MEN

T, IN

FRA

STRU

CTU

RE A

SSET

S(a

) Ca

rryi

ng A

mou

nts

of A

sset

s by

Cla

ssifi

cati

on

30 J

une

2015

30 J

une

2014

$$

Land

-

Inde

pend

ent V

aluat

ion

2014

63,

856,

052

64,

420,

450

63,

856,

052

64,

420,

450

Build

ings

-

Inde

pend

ent V

aluat

ion

2014

53,

031,

000

54,

671,

000

- A

dditio

ns a

fter v

aluat

ion

- Co

st 2

,363

,657

3

20,3

78

Less

: Ac

cum

ulat

ed D

epre

ciatio

n (2

,628

,176

) (8

67,4

26)

52,

766,

481

54,

123,

952

Offic

e Fu

rnitu

re a

nd E

quip

men

t -

Man

agem

ent V

aluat

ion

2014

1,7

82,6

77

1,7

83,5

76

- A

dditio

ns a

fter v

aluat

ion

- Co

st 1

,299

,494

6

54,9

61

Less

: Ac

cum

ulat

ed D

epre

ciatio

n (5

74,9

38)

(79,

541)

2,5

07,2

33

2,3

58,9

96

Exte

rnal

Pla

nt a

nd E

quip

men

t -

Man

agem

ent V

aluat

ion

2013

1,9

08,9

37

2,3

50,7

47

- A

dditio

ns a

fter v

aluat

ion

- Co

st 1

,473

,133

6

76,3

99

Less

: Ac

cum

ulat

ed D

epre

ciatio

n (6

48,4

26)

(398

,718

) 2

,733

,644

2

,628

,428

Pa

rks

and

Rese

rves

- M

anag

emen

t Valu

atio

n 20

15 7

2,26

9,07

5 -

-

Cos

t -

6

8,98

5,57

3 Le

ss:

Accu

mul

ated

Dep

recia

tion

(17,

445,

762)

(18,

797,

355)

54,

823,

313

50,

188,

218

Road

s an

d La

nes

- M

anag

emen

t Valu

atio

n 20

15 1

27,9

82,1

80

-

- C

ost

-

85,

035,

822

Less

: Ac

cum

ulat

ed D

epre

ciatio

n (7

6,60

0,79

6) (3

4,71

0,46

7) 5

1,38

1,38

4 4

7,32

5,35

5

30 J

une

2015

30 J

une

2014

$$

Drai

nage

-

Man

agem

ent V

aluat

ion

2015

28,

785,

509

-

- C

ost

-

25,

959,

626

Less

: Ac

cum

ulat

ed D

epre

ciatio

n (1

3,70

1,12

4) (1

8,68

4,58

3) 1

5,08

4,38

5 7

,275

,043

Fo

otpa

ths

- M

anag

emen

t Valu

atio

n 20

15 2

8,70

8,87

5 -

-

Cos

t -

1

2,33

4,00

5 Le

ss:

Accu

mul

ated

Dep

recia

tion

(8,7

00,1

84)

(3,6

85,7

77)

20,

008,

691

8,6

48,2

28

Othe

r Inf

rast

ruct

ure

- M

anag

emen

t Valu

atio

n 20

15 1

,216

,125

-

-

Cos

t -

8

99,7

94

Less

: Ac

cum

ulat

ed D

epre

ciatio

n (8

97,0

05)

(567

,028

) 3

19,1

20

332

,766

W

ork

in P

rogr

ess

Build

ings

20,

485,

010

4,7

15,9

97

Park

s an

d Re

serv

es 7

50,9

39

479

,219

Ro

ads

and

Lane

s 1

38,3

84

1,5

55,7

74

Drain

age

183

,436

1

62,4

08

Foot

path

s 3

,055

5

8,45

2 Ot

her I

nfra

stru

ctur

e 1

02,1

96

205

,527

2

1,66

3,02

0 7

,177

,377

Tota

l Pro

pert

y, Pl

ant a

nd E

quip

men

t an

d In

fras

truc

ture

285

,143

,323

2

44,4

78,8

13

81Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

13.

PRO

PERT

Y, P

LAN

T &

EQ

UIP

MEN

T, IN

FRA

STRU

CTU

RE A

SSET

S (c

onti

nued

)

(a)

Mov

emen

t Car

ryin

g A

mou

nts

Mov

emen

ts in

the

carr

ying

am

ount

s fo

r eac

h cl

ass

of p

rope

rty,

pla

nt, e

quip

men

t and

infr

astr

uctu

re a

sset

s be

twee

n th

e be

ginn

ing

and

end

of th

e cu

rren

t fina

ncia

l yea

r.

Not

e: W

ork

in P

rogr

ess

Add

itio

ns o

f $

17.9

mill

ion

incl

ude

build

ing

wor

ks o

f $

9.4

mill

ion

for t

he C

ity

Bea

ch S

urf

Club

room

s an

d Co

mm

erci

al D

evel

opm

ent a

nd $

6.7

mill

ion

for t

he B

old

Park

A

quat

ic C

entr

e Re

deve

lopm

ent P

roje

ct. Land

(Lev

el 3

)

Non-

Spec

ialis

ed

Build

ings

(L

evel

3)

Spec

ialis

ed

Build

ings

(L

evel

3)Bu

ildin

gs

(Lev

el 3

)

Plan

t &

Equi

pmen

t (L

evel

3)

Furn

iture

&

Equi

pmen

t (L

evel

3)

Park

s &

Rese

rves

(L

evel

3)

Road

s &

Lane

s (L

evel

3)

Drai

nage

(L

evel

3)

Foot

path

s (L

evel

3)

Othe

r In

frast

ruct

ure

(Lev

el 3

)W

ork

in

Prog

ress

Tota

l

Balan

ce a

t Beg

inni

ng a

t yea

r64

,420

,450

24

,294

,251

29

,829

,701

54

,123

,952

2,

628,

428

2,35

8,99

6 50

,188

,218

47

,325

,355

7,

275,

043

8,64

8,22

8 33

2,76

6 7,

177,

377

244,

478,

813

Addi

tions

- 54

4,65

9 41

7,50

4 96

2,16

2 63

7,10

7 64

3,73

3 1,

887,

693

1,83

0,34

5 70

9,97

8 1,

604,

368

66,6

44

17,8

70,4

19

26,2

12,4

49

Tran

sfer

s fro

m W

IP-

433,

223

647,

895

1,08

1,11

7 20

5,52

7 -

453,

688

1,52

1,30

2 54

,162

58

,452

-

(3,3

74,2

48)

-

Disp

osals

- (1

0,76

7)(8

17,5

53)

(828

,320

)(3

21,7

96)

(6)

(35,

134)

(11,

466)

- (1

21,8

86)

(8,5

53)

- (1

,327

,160

)

Writ

e of

f of A

sset

s to

Pro

fit &

Los

s-

- -

- -

- -

- -

- -

(10,

528)

(10,

528)

Depr

eciat

ion

Expe

nse

- (1

,057

,829

)(8

07,7

33)

(1,8

65,5

62)

(415

,622

)(4

95,4

90)

(1,6

24,9

15)

(1,9

72,4

44)

(286

,386

)(2

27,0

35)

(20,

563)

- (6

,908

,016

)

Asse

t Rev

alued

(564

,398

)10

,767

(7

17,6

36)

(706

,868

)-

- 3,

953,

762

2,68

8,29

1 7,

331,

589

10,0

46,5

63

(51,

174)

- 22

,697

,765

Carr

ying

Am

ount

at e

nd o

f yea

r63

,856

,052

24

,214

,304

28

,552

,178

52

,766

,481

2,

733,

644

2,50

7,23

3 54

,823

,312

51

,381

,383

15

,084

,386

20

,008

,690

31

9,12

0 21

,663

,020

28

5,14

3,32

3


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

13.

PRO

PERT

Y, P

LAN

T, E

QU

IPM

ENT,

INFR

AST

RUCT

URE

ASS

ETS

(c

onti

nued

)

(c

)

Infr

astr

uctu

re A

sset

s

The

Tow

n re

valu

ed it

s in

fras

truc

ture

ass

ets

as a

t 30

Jun

e 2

01

5.

A m

ixtu

re o

f in

-hou

se s

taff

and

con

sult

ants

wer

e us

ed to

car

ry o

ut th

e ta

sk o

f va

luin

g it

s in

fras

truc

ture

ass

ets

at 3

0 J

une

20

15

as

follo

ws:

• Ro

ads

- In

tern

al a

nd E

xter

nal V

alua

tion

;•

Dra

inag

e –

Inte

rnal

and

Ext

erna

l Val

uati

on;

• Fo

otpa

ths

– In

tern

al a

nd E

xter

nal V

alua

tion

;•

Park

s –

Inte

rnal

Val

uati

on;

• B

us S

helt

ers

– In

tern

al V

alua

tion

;•

Exte

rnal

Lig

htin

g –

Inte

rnal

Val

uati

on;

• Ca

r Par

ks –

Inte

rnal

and

Ext

erna

l Val

uati

on;

• W

aste

Wat

er P

lant

– In

tern

al V

alua

tion

;

The

rem

aini

ng li

fe a

nd u

sefu

l lif

e fo

r:

• se

aled

road

sur

face

s an

d dr

aina

ge o

r sto

rmw

ater

ass

ets

wer

e as

sess

ed

by

AIM

Con

sult

ants

Eng

inee

rs;

• ca

r par

ks w

ere

revi

ewed

by

Gri

ffin

Valu

atio

n A

dvis

ory;

• al

l oth

er in

fras

truc

ture

ass

ets

wer

e as

sess

ed b

y of

fice

rs o

f th

e To

wn.

The

valu

atio

n m

etho

dolo

gy e

mpl

oyed

by

the

Tow

n in

val

uing

its

infr

astr

uctu

re a

sset

s w

as in

depe

nden

tly

revi

ewed

by

Gri

ffin

Valu

atio

n A

dvis

ory.

Cost

App

roac

h

Wit

h re

spec

t to

fair

val

ue, t

he a

ccou

ntin

g gu

idel

ines

pro

pose

that

eit

her

a m

arke

t cos

t or i

ncom

e ap

proa

ch b

e ta

ken.

As

an a

ctiv

e m

arke

t doe

s no

t ex

ist f

or in

fras

truc

ture

ass

ets

to e

nabl

e fa

ir v

alue

or m

arke

t val

ue to

be

esta

blis

hed,

the

depr

ecia

ted

repl

acem

ent c

ost i

s to

be

take

n as

“Fa

ir V

alue

”,

in a

ccor

danc

e w

ith

Acc

ount

ing

Stan

dard

AA

SB 1

16.

Ther

efor

e th

e co

st

appr

oach

was

dee

med

to b

e th

e m

ost a

ppro

pria

te m

etho

d of

val

uati

on to

de

term

ine

the

depr

ecia

ted

repl

acem

ent c

ost.

The

cos

t app

roac

h us

es a

co

mbi

nati

on o

f re

plac

emen

t cos

t of

an a

sset

est

imat

ed u

sing

cur

rent

pri

ces

and

rem

aini

ng u

sefu

l lif

e es

tim

ated

by

dete

rmin

ing

its

curr

ent c

ondi

tion

.

Ass

et re

plac

emen

t cos

t inv

olve

d de

term

inin

g th

e gr

oss

repl

acem

ent v

alue

of

asse

ts o

n th

e ba

sis

of re

plac

ing

a ne

w a

sset

hav

ing

sim

ilar s

ervi

ce p

oten

tial

. Th

e gr

oss

repl

acem

ent v

alue

uni

t rat

es w

ere

deri

ved

from

refe

renc

e to

co

stin

g gu

idel

ines

issu

ed b

y Ra

wlin

son’

s (A

ustr

alia

n Co

nstr

ucti

on H

andb

ook)

an

d T

own

sour

ces

(cos

ting

s fr

om re

cent

ly c

ompl

eted

cap

ital

wor

ks p

roje

cts)

.

In o

rder

to d

eter

min

e th

e as

set’

s re

mai

ning

use

ful l

ife,

con

diti

on a

sses

smen

ts

wer

e un

dert

aken

bas

ed o

n pu

blis

hed

stan

dard

s su

ch a

s th

e N

atio

nal A

sset

M

anag

emen

t Sys

tem

(N

AM

S) P

ract

ice

note

s an

d In

tern

atio

nal I

nfra

stru

ctur

e M

anag

emen

t Man

ual g

uide

lines

, usi

ng th

e sk

ills

of e

xper

ienc

ed e

ngin

eeri

ng

and

oper

atio

nal s

taff

. A

sset

con

diti

ons

wer

e ra

ted

usin

g a

1 to

5 ra

ting

sy

stem

as

reco

mm

ende

d by

the

Inst

itut

e of

Pub

lic W

orks

Eng

inee

rs (

IPW

EA)

and

NA

MS

guid

elin

es, w

here

1 re

pres

ente

d “a

s ne

w”

cond

itio

n an

d a

rati

ng o

f 5

repr

esen

ted

“ver

y po

or”

cond

itio

n.

The

cost

app

roac

h w

as u

sed

for v

alua

tion

of

all i

nfra

stru

ctur

e as

sets

wit

h th

e ex

cept

ion

of a

car

par

k in

Lee

derv

ille

whi

ch c

ompr

ises

of

park

ing

met

ers

and

was

ass

esse

d on

an

inco

me

base

d ap

proa

ch b

y ex

tern

al v

alue

rs, G

riffi

n Va

luat

ion.

Dat

a Re

liabi

lity

and

Deg

ree

of C

onfi

denc

e

Inpu

ts m

ay b

e ob

serv

able

or u

nobs

erva

ble

and

are

posi

tion

ed in

the

hier

arch

y as

fol

low

s:

• Le

vel 1

inpu

ts -

Quo

ted

pric

es (

unad

just

ed)

in a

ctiv

e m

arke

ts f

or id

enti

cal

asse

ts o

r lia

bilit

ies

that

the

enti

ty c

an a

cces

s at

the

mea

sure

men

t dat

e.

• Le

vel 2

inpu

ts -

Inpu

ts o

ther

than

quo

ted

pric

es in

clud

ed w

ithi

n Le

vel 1

th

at a

re o

bser

vabl

e fo

r the

ass

et o

r lia

bilit

y, e

ithe

r dir

ectl

y or

indi

rect

ly.

• Le

vel 3

inpu

ts -

Uno

bser

vabl

e in

puts

for

the

asse

t or l

iabi

lity.

83Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

13.

PRO

PERT

Y, P

LAN

T, E

QU

IPM

ENT,

INFR

AST

RUCT

URE

ASS

ETS

(con

tinu

ed)

(c

)

Infr

astr

uctu

re A

sset

s

The

valu

atio

n of

eac

h as

set c

lass

was

indi

vidu

ally

revi

ewed

in te

rms

of

data

relia

bilit

y an

d co

nfide

nce

in th

at d

ata

asso

ciat

ed w

ith

cond

itio

n an

d va

luat

ion.

Dat

a re

liabi

lity

and

accu

racy

was

mea

sure

d us

ing

the

follo

win

g ra

ting

s:

• A

– H

ighl

y re

liabl

e –

data

bas

ed o

n so

und

reco

rds,

pro

cedu

res,

in

vest

igat

ion

and

anal

ysis

etc

.

• B

– R

elia

ble

– da

ta b

ased

on

soun

d re

cord

s, p

roce

dure

s et

c. b

ut h

ave

min

or s

hort

com

ings

, for

exa

mpl

e da

ta is

old

, som

e do

cum

enta

tion

is

mis

sing

etc

.

• C

– U

ncer

tain

– d

ata

base

d on

reco

rds,

pro

cedu

re, i

nves

tiga

tion

ban

d an

alys

is, w

hich

is in

com

plet

e or

uns

uppo

rted

etc

.

• D

– N

o re

liabl

e da

ta

Dat

a ob

tain

ed f

or a

ll in

fras

truc

ture

ass

et c

lass

es w

as ra

ted

as “

B”

relia

ble

wit

h th

e ex

cept

ion

of d

rain

age

(sto

rm w

ater

pip

es, e

tc.)

and

irri

gati

on w

hich

re

ceiv

ed a

“C”

unc

erta

in ra

ting

.

Not

all

asse

t com

pone

nts

wer

e ab

le to

be

phys

ical

ly in

spec

ted

such

as

the

cond

itio

n of

und

erly

ing

road

bas

e, s

torm

wat

er p

ipes

etc

. A

ccor

ding

ly, a

ll cl

asse

s w

ere

give

n a

“Lev

el 3

inpu

t” ra

ting

.

Reva

luat

ion

Out

com

e

Giv

en th

e as

sum

ptio

ns th

at h

ave

been

use

d in

arr

ivin

g at

the

fair

val

ue,

infr

astr

uctu

re a

sset

s w

ere

deem

ed to

hav

e be

en v

alue

d us

ing

Leve

l 3 in

puts

in

the

fair

val

ue h

iera

rchy

. Th

e re

valu

atio

n re

sult

ed in

an

over

all i

ncre

ase

of

$2

3.9

mill

ion

whi

ch h

as b

een

book

ed to

ass

et re

valu

atio

n su

rplu

s.

(d)

Bold

Par

k Tr

ansf

er o

f Ti

tle

– La

nd P

roce

eds

In M

ay 1

99

8 th

e St

ate

Gov

ernm

ent p

aid

the

Tow

n th

e su

m o

f $

6.5

mill

ion

in a

dvan

ce, w

ith

resp

ect t

o th

e sa

le o

f la

nd a

t For

tvie

w R

oad,

Whi

tney

Cr

esce

nt a

nd R

ochd

ale

Road

, Mt C

lare

mon

t are

as k

now

n as

“F”

and

“G

” an

d as

com

pens

atio

n fo

r the

cre

atio

n an

d en

dow

men

t of

Bol

d Pa

rk.

In th

e ev

ent t

hat t

he s

ale

proc

eeds

of

the

land

exc

eed

$1

1.5

mill

ion,

the

Tow

n is

to

rece

ive

a fu

rthe

r 50

per

cen

t of

that

por

tion

exc

eedi

ng $

11

.5 m

illio

n.

Are

a “F

” w

as o

n-so

ld b

y th

e St

ate

Gov

ernm

ent t

o La

ndco

rp, a

Gov

ernm

ent

agen

cy, f

or $

3.7

mill

ion.

The

sta

tus

of a

rea

“G”

was

in d

ispu

te w

ith

the

Stat

e G

over

nmen

t con

cern

ing

the

fina

ncia

l arr

ange

men

ts w

ith

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

ac

cord

ing

to th

e To

wn’

s un

ders

tand

ing

are

agre

ed.

A D

eed

was

sig

ned

in

Sept

embe

r 20

11

for

mal

isin

g th

e ar

rang

emen

ts.

Land

corp

will

be

resp

onsi

ble

for d

evel

opin

g th

e la

nd.

(e)

Fo

rmer

Nur

sery

Sit

e -

Salv

ado

Road

Jol

imon

t

The

Tow

n en

tere

d in

to a

sal

e ag

reem

ent i

n A

pril

20

13 w

ith

Land

corp

to

fac

ilita

te th

e de

velo

pmen

t of

the

form

er N

urse

ry S

ite

loca

ted

in S

alva

do

Road

, Jol

imon

t. U

nder

this

con

trac

t the

Tow

n w

ill re

ceiv

e 6

0%

of

the

net

sale

pro

ceed

s. A

n ad

vanc

e pa

ymen

t was

rece

ived

and

boo

ked

duri

ng th

e 2

01

2/2

013

fina

ncia

l yea

r. A

n O

utlin

e D

evel

opm

ent P

lan

was

pre

pare

d by

La

ndco

rp f

or th

e si

te w

hich

was

pub

licly

adv

erti

sed

and

adop

ted

by th

e To

wn

in D

ecem

ber 2

014

. Th

e pl

an h

as s

ince

bee

n ap

prov

ed b

y th

e W

este

rn

Aus

tral

ian

Plan

ning

Com

mis

sion

in J

une

20

15

and

dev

elop

men

t of

the

site

ca

n no

w c

omm

ence

. Cou

ncil

will

con

side

r at i

ts S

epte

mbe

r Cou

ncil

mee

ting

to

pro

ceed

wit

h de

velo

pmen

t in

conj

unct

ion

wit

h La

ndco

rp.

(f)

O

ther

Sig

nifi

cant

Dis

posa

ls

Ther

e w

ere

no s

igni

fica

nt d

ispo

sals

of

non-

curr

ent a

sset

s du

ring

the

20

14/2

01

5 fi

nanc

ial y

ear.


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

14.

RESE

RVES

AN

D C

AM

BRID

GE

END

OW

MEN

T LA

ND

S A

CCO

UN

TA

s at

30

Jun

e 2

01

5 th

e To

wn

of C

ambr

idge

mai

ntai

ned

rese

rves

for

var

ious

pu

rpos

es re

lati

ng to

the

prov

isio

n of

fac

iliti

es a

nd a

men

itie

s 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

fun

ds f

or th

e ac

quis

itio

n an

d de

velo

pmen

t of

asse

ts, e

xclu

ding

com

mun

ity

recr

eati

on f

acili

ties

, or t

he

prov

isio

n of

ser

vice

s th

at a

re in

the

view

of

the

Tow

n be

nefi

cial

and

to

prov

ide

impr

ovem

ents

to a

reas

wit

hin

the

dist

rict

of

the

Tow

n.

(b)

Com

mun

ity

Faci

litie

s Re

serv

e

Th

is re

serv

e w

as e

stab

lishe

d to

pro

vide

fun

ds f

or th

e ac

quis

itio

n an

d de

velo

pmen

t of

com

mun

ity

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

fun

ds f

or f

utur

e as

set r

epla

cem

ent i

nclu

ding

pla

nt a

nd e

quip

men

t, h

avin

g re

gard

to th

e de

prec

iati

ng n

atur

e of

non

-cur

rent

ass

ets.

The

am

ount

in th

is re

serv

e is

to b

e ac

cum

ulat

ed o

ver t

he u

sefu

l lif

e of

the

asse

ts a

nd e

xpen

ded

on

repl

acem

ent a

s co

nsid

ered

app

ropr

iate

.

(d)

Was

te M

anag

emen

t Res

erve

Th

is re

serv

e w

as e

stab

lishe

d to

pro

vide

fun

ds f

or th

e pr

ovis

ion

of w

aste

m

anag

emen

t ser

vice

s in

clud

ing

recy

clin

g. T

hese

ser

vice

s m

ay in

clud

e ac

quis

itio

n of

ass

ets

such

as

land

, bui

ldin

gs, p

lant

and

equ

ipm

ent,

mob

ile

rubb

ish

bins

etc

.

(e)

Club

s an

d A

ssoc

iati

ons

Rese

rves

(i)

Club

s an

d A

ssoc

iati

ons

- B

uild

ings

Th

is re

serv

e w

as e

stab

lishe

d in

acc

orda

nce

wit

h th

e To

wn’

s ne

w

com

mun

ity

leas

ing

polic

y to

pro

vide

fun

ding

for

ong

oing

bui

ldin

g m

aint

enan

ce f

or th

e va

riou

s fa

cilit

ies.

Con

trib

utio

ns a

re m

ade

by b

oth

the

Tow

n an

d th

e Co

mm

unit

y A

ssoc

iati

ons

and

held

by

the

Tow

n fo

r thi

s pu

rpos

e.

(ii)

Clu

bs a

nd A

ssoc

iati

ons

- Sy

nthe

tic

Cour

t and

Lig

htin

gs

Th

is re

serv

e w

as e

stab

lishe

d in

acc

orda

nce

wit

h th

e To

wn’

s ne

w

com

mun

ity

leas

ing

polic

y to

pro

vide

repl

acem

ent o

f sy

nthe

tic

cour

ts

and

light

ing

infr

astr

uctu

re w

here

app

licab

le.

Cont

ribu

tion

s ar

e m

ade

by

both

the

Tow

n an

d Co

mm

unit

y A

ssoc

iati

ons

and

held

by

the

Tow

n fo

r thi

s pu

rpos

e.

(iii)

Clu

bs a

nd A

ssoc

iati

ons

- Ca

r Par

ks a

nd S

urro

undi

ngs

Th

is re

serv

e w

as e

stab

lishe

d in

acc

orda

nce

wit

h th

e To

wn’

s ne

w

com

mun

ity

leas

ing

polic

y to

pro

vide

for

the

repl

acem

ent o

f ca

r par

ks a

nd

surr

ound

ings

whe

re a

pplic

able

. Co

ntri

buti

ons

are

mad

e by

bot

h th

e To

wn

and

Com

mun

ity

Ass

ocia

tion

s an

d he

ld b

y 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

“To

wn

Plan

ning

Sch

eme”

, has

a re

quir

emen

t for

de

velo

pers

to m

ake

a “c

ash

in li

eu o

f pa

rkin

g” c

ontr

ibut

ion,

as

part

of

its

plan

ning

app

rova

l pro

cess

whe

re it

is e

vide

nt th

at th

ere

are

insu

ffici

ent

park

ing

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

en

able

con

trib

utio

ns to

be

appr

opri

atel

y m

onit

ored

and

acq

uitt

ed, a

sub

-re

serv

e ha

s be

en c

reat

ed f

or 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

19

20

(Se

ctio

n 4

1(1

)) re

quir

es a

n “E

ndow

men

t Lan

ds A

ccou

nt”

to b

e es

tabl

ishe

d. T

he p

roce

eds

of s

ale

of la

nd

in th

e En

dow

men

t Lan

ds a

rea

are

to b

e cr

edit

ed to

this

acc

ount

. Th

e fu

nds

held

in th

is a

ccou

nt m

ust b

e ex

pend

ed f

or th

e de

velo

pmen

t of

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

rise

s. T

he a

sset

man

agem

ent r

eser

ve a

nd a

rea

impr

ovem

ent r

eser

ve a

re u

sed

on a

n on

goin

g ba

sis.

Oth

er re

serv

es w

ill b

e us

ed f

or s

peci

fic

proj

ects

as

and

whe

n re

quir

ed.

85Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

14.

RESE

RVES

AN

D C

AM

BRID

GE

END

OW

MEN

T LA

ND

S A

CCO

UN

T

(c

onti

nued

) RESE

RVES

30 J

une

2015

Ac

tual

30 J

une

2015

Bu

dget

30 J

une

2014

Ac

tual

$$

$(a

) Ar

ea Im

prov

emen

tOp

enin

g Ba

lance

1 J

uly

765

,401

1

,145

,400

3

,322

,704

Tran

sfer

from

Acc

umul

ated

Sur

plus

2,6

32,5

16

2,5

89,5

00

875

,043

Tran

sfer

to A

ccum

ulat

ed S

urpl

us (1

,688

,629

) (2

,491

,500

) (3

,432

,346

)

Clos

ing

Balan

ce 3

0 Ju

ne 1

,709

,288

1

,243

,400

7

65,4

01

(b)

Com

mun

ity F

acili

ties

Open

ing

Balan

ce 1

Jul

y 1

,097

,441

(1

08,8

00)

-

Tran

sfer

from

Acc

umul

ated

Sur

plus

46,

102

35,

600

1,2

94,9

03

Tran

sfer

to A

ccum

ulat

ed S

urpl

us (1

88,8

73)

(122

,300

) (1

97,4

62)

Clos

ing

Balan

ce 3

0 Ju

ne 9

54,6

70

(195

,500

) 1

,097

,441

(c)

Asse

t Man

agem

ent

Open

ing

Balan

ce 1

Jul

y 9

99,7

76

797

,100

8

99,0

75

Tran

sfer

from

Acc

umul

ated

Sur

plus

999

,611

7

14,3

00

902

,344

Tran

sfer

to A

ccum

ulat

ed S

urpl

us (1

,042

,551

) (1

,521

,000

) (8

01,6

43)

Clos

ing

Balan

ce 3

0 Ju

ne 9

56,8

36

(9,6

00)

999

,776

(d)

Was

te M

anag

emen

tOp

enin

g Ba

lance

1 J

uly

446

4

,600

-

Tran

sfer

from

Acc

umul

ated

Sur

plus

312

,000

3

12,0

00

549

,160

Tran

sfer

to A

ccum

ulat

ed S

urpl

us (2

9,34

5) (2

0,00

0) (5

48,7

14)

Clos

ing

Balan

ce 3

0 Ju

ne 2

83,1

01

296

,600

4

46

(e)

Club

s an

d As

soci

atio

nsOp

enin

g Ba

lance

1 J

uly

746

,098

7

41,0

00

379

,326

Tran

sfer

from

Acc

umul

ated

Sur

plus

626

,226

5

95,0

00

533

,744

Tran

sfer

to A

ccum

ulat

ed S

urpl

us (4

95,5

44)

(511

,000

) (1

66,9

72)

Clos

ing

Balan

ce 3

0 Ju

ne 8

76,7

80

825

,000

7

46,0

98

RESE

RVES

30 J

une

2015

Ac

tual

30 J

une

2015

Bu

dget

30 J

une

2014

Ac

tual

$$

$(f)

Deve

lopm

ent C

ontr

ibut

ions

- P

arki

ngOp

enin

g Ba

lance

1 J

uly

432

,000

1

87,5

00

-

Tran

sfer

from

Acc

umul

ated

Sur

plus

500

,750

8

5,10

0 4

74,3

31

Tran

sfer

to A

ccum

ulat

ed S

urpl

us -

-

(4

2,33

1)

Clos

ing

Balan

ce 3

0 Ju

ne 9

32,7

50

272

,600

4

32,0

00

(g)

Deve

lopm

ent C

ontr

ibut

ions

- P

ublic

Art

Open

ing

Balan

ce 1

Jul

y -

-

-

Tran

sfer

from

Acc

umul

ated

Sur

plus

55,

000

-

-

Tran

sfer

to A

ccum

ulat

ed S

urpl

us -

-

-

Clos

ing

Balan

ce 3

0 Ju

ne 5

5,00

0 -

-

Tota

l Res

erve

s 5

,768

,425

2

,432

,500

4

,041

,162

(h)

Cam

brid

ge E

ndow

men

t Lan

ds A

ccou

ntOp

enin

g Ba

lance

1 J

uly

27,

619,

352

9,1

21,8

00

9,5

10,2

72

Tran

sfer

from

Acc

umul

ated

Sur

plus

5,5

12,8

17

27,

090,

000

22,

091,

228

Tran

sfer

to A

ccum

ulat

ed S

urpl

us (1

6,09

7,28

5) (2

9,95

8,60

0) (3

,982

,148

)

Clos

ing

Balan

ce 3

0 Ju

ne 1

7,03

4,88

4 6

,253

,200

2

7,61

9,35

2

Tota

l Cam

brid

ge E

ndow

men

t Lan

ds A

ccou

nt 1

7,03

4,88

4 6

,253

,200

2

7,61

9,35

2

Tota

l 2

2,80

3,30

9 8

,685

,700

3

1,66

0,51

4


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

15.

ASS

ET R

EVA

LUAT

ION

SU

RPLU

S

Reva

luat

ion

surp

luse

s ha

ve a

rise

n on

reva

luat

ion

of th

e fo

llow

ing

clas

ses

of n

on-

curr

ent a

sset

s:

ASSE

T RE

VALU

ATIO

N SU

RPLU

S30

Jun

e 20

15

Actu

al30

Jun

e 20

14

Actu

al

$$

Land

Open

ing

Balan

ce 1

Jul

y 5

4,25

6,55

4 -

Reva

luat

ion

Incr

emen

t -

5

4,25

6,55

4

Reva

luat

ion

Decr

emen

t (5

64,3

98)

-

Clos

ing

Balan

ce 3

0 Ju

ne 5

3,69

2,15

6 5

4,25

6,55

4

Build

ings

Open

ing

Balan

ce 1

Jul

y 1

6,70

8,33

8 -

Reva

luat

ion

Incr

emen

t -

1

6,70

8,33

8

Reva

luat

ion

Decr

emen

t (7

06,8

68)

-

Clos

ing

Balan

ce 3

0 Ju

ne 1

6,00

1,47

0 1

6,70

8,33

8

Park

s an

d Re

serv

es

Open

ing

Balan

ce 1

Jul

y -

-

Reva

luat

ion

Incr

emen

t 3

,953

,762

-

Clos

ing

Balan

ce 3

0 Ju

ne 3

,953

,762

-

Road

s an

d La

nes

Open

ing

Balan

ce 1

Jul

y -

-

Reva

luat

ion

Incr

emen

t 2

,552

,374

-

Clos

ing

Balan

ce 3

0 Ju

ne 2

,552

,374

-

ASSE

T RE

VALU

ATIO

N SU

RPLU

S30

Jun

e 20

15

Actu

al30

Jun

e 20

14

Actu

al

$$

Drai

nage

Open

ing

Balan

ce 1

Jul

y -

-

Reva

luat

ion

Incr

emen

t 7

,331

,589

-

Clos

ing

Balan

ce 3

0 Ju

ne 7

,331

,589

-

Foot

path

s

Open

ing

Balan

ce 1

Jul

y -

-

Reva

luat

ion

Incr

emen

t 1

0,04

6,56

3 -

Clos

ing

Balan

ce 3

0 Ju

ne 1

0,04

6,56

3 -

Othe

r Inf

rast

ruct

ure

Open

ing

Balan

ce 1

Jul

y -

-

Reva

luat

ion

Incr

emen

t 8

4,74

3 -

Clos

ing

Balan

ce 3

0 Ju

ne 8

4,74

3 -

Tota

l Ass

et R

eval

uatio

n Re

serv

e 9

3,66

2,65

7 7

0,96

4,89

2

87Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

16.

NO

TES

TO T

HE

STAT

EMEN

T O

F CA

SH F

LOW

S(a

) Re

conc

iliat

ion

of C

ash

For t

he p

urpo

se o

f th

e St

atem

ent o

f Ca

sh F

low

s th

e To

wn

of C

ambr

idge

con

side

rs c

ash

to in

clud

e ca

sh o

n ha

nd a

nd in

ban

ks a

nd in

vest

men

ts n

et o

f ou

tsta

ndin

g ba

nk o

verd

raft

s. C

ash

at

the

end

of th

e re

port

ing

peri

od a

s sh

own

in th

e St

atem

ent o

f Ca

sh F

low

s is

reco

ncile

d to

the

rela

ted

item

s in

the

Stat

emen

t of

Fina

ncia

l Pos

itio

n as

fol

low

s:

30 J

une

2015

Actu

al30

Jun

e 20

15 B

udge

t30

Jun

e 20

14

Actu

al

$$

$

Cash

and

Cas

h Eq

uiva

lent

s32

,544

,972

12,1

93,5

0039

,601

,746

32,5

44,9

7212

,193

,500

39,6

01,7

46

(b

) Re

conc

iliat

ion

of N

et C

ash

Pr

ovid

ed b

y O

pera

ting

Act

ivit

ies

to O

pera

ting

Sur

plus

30 J

une

2015

Act

ual

30 J

une

2015

Bu

dget

30 J

une

2014

Act

ual

$$

$

Oper

atin

g Su

rplu

s/(D

efici

t) 1

2,11

8,12

5 1

2,34

0,50

0 2

0,84

3,81

8

Adju

stm

ent f

or it

ems

not i

nvol

ving

the

mov

emen

t of C

ash:

Chan

ge in

Equ

ity –

Joi

nt V

entu

re (2

,681

,147

) 1

20,0

00

(103

,452

)

Land

hel

d fo

r res

ale -

Tam

ala P

ark

209

,738

-

(1

38,3

02)

Asse

ts R

eclas

sified

an

expe

nsed

to

oper

atin

g 1

0,52

8 -

6

,361

Depr

eciat

ion/

Writ

e Do

wn 6

,908

,016

6

,698

,000

6

,500

,707

Reva

luat

ion

of F

urni

ture

and

Equ

ipm

ent

-

-

575

,016

Deva

luat

ion

of In

vest

men

t (8

8,72

0) -

1

84,5

31

Retir

emen

t of I

nfra

stru

ctur

e As

sets

and

Ass

et W

rite

Off

177

,039

-

7

25,9

64

Loss

/(Gain

) on

Sale

of P

rope

rty, P

lant a

nd E

quip

men

t (5

,384

,854

) (8

,465

,500

) (1

9,38

9,73

8)

11,

268,

725

10,

693,

000

9,2

04,9

05

30 J

une

2015

Actu

al30

Jun

e 20

15 B

udge

t30

Jun

e 20

14

Actu

al

$$

$

Reve

nues

Pro

vide

d by

Gov

ernm

ent a

nd O

ther

Pa

rtie

sGr

ants

/Con

tribu

tions

for t

he d

evel

opm

ent o

f ass

ets

(3,4

31,3

21)

(4,1

59,8

00)

(3,3

74,1

82)

(3,4

31,3

21)

(4,1

59,8

00)

(3,3

74,1

82)

Chan

ge in

Ope

ratin

g As

sets

and

Lia

bilit

ies

Add

Back

Incr

ease

/(Dec

reas

e) in

Acc

rued

Exp

ense

s 1

,510

,547

(7

00,0

00)

357

,644

Incr

ease

/(Dec

reas

e) in

Pro

visio

ns (1

3,30

6) 2

00,0

00

277

,669

Incr

ease

/(Dec

reas

e) in

Inco

me

in A

dvan

ce (2

43)

(140

,000

) 9

36

Incr

ease

/(Dec

reas

e) in

Acc

rued

Inco

me

(413

,953

) (3

00,0

00)

(302

,397

)

Incr

ease

/(Dec

reas

e) in

Deb

tors

269

,191

6

00,0

00

1,1

18,5

00

Incr

ease

/(Dec

reas

e) in

Pre

paym

ents

16,

952

(40,

000)

(83,

683)

Incr

ease

/(Dec

reas

e) in

Cre

dito

rs 2

74,2

43

500

,000

(8

59,6

40)

Incr

ease

/(Dec

reas

e) in

Sto

ck o

n Ha

nd (2

52,5

40)

860

,000

1

66,2

17

GST

Mov

emen

t 1

75,2

71

(91,

800)

141

,304

1,5

66,1

62

888

,200

8

16,5

50

Net C

ash

Prov

ided

by

Oper

atin

g Ac

tiviti

es 9

,403

,566

7

,421

,400

6

,647

,273


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

17.

SUPE

RAN

NU

ATIO

NTh

e To

wn

of C

ambr

idge

com

plie

s w

ith

the

min

imum

obl

igat

ions

und

er f

eder

al la

w

and

cont

ribu

tes

in re

spec

t of

its

empl

oyee

s to

one

of

the

follo

win

g su

pera

nnua

tion

pl

ans:

-

(a)

W.A

. Sup

er

The

Tow

n co

ntri

bute

s in

resp

ect o

f ce

rtai

n em

ploy

ees

to a

n ac

cum

ulat

ed

bene

fit s

uper

annu

atio

n fu

nd e

stab

lishe

d in

resp

ect o

f al

l Mun

icip

alit

ies

in

the

Stat

e. I

n ac

cord

ance

wit

h st

atut

ory

requ

irem

ents

, the

Tow

n co

ntri

bute

s to

the

W.A

. Sup

er a

mou

nts

nom

inat

ed b

y th

e To

wn.

As

such

, ass

ets

are

accu

mul

ated

in th

e Pl

an to

mee

t mem

bers

’ ben

efits

as

they

acc

rue.

No

liabi

lity

of th

e To

wn

has

been

reco

gnis

ed a

s at

the

repo

rtin

g da

te in

resp

ect

of s

uper

annu

atio

n be

nefi

ts f

or it

s em

ploy

ees.

(b)

City

of

Pert

h Su

pera

nnua

tion

Fun

d

The

Tow

n co

ntri

bute

s in

resp

ect o

f ce

rtai

n fo

rmer

Cit

y of

Per

th e

mpl

oyee

s to

a d

efine

d be

nefi

t sup

eran

nuat

ion

plan

. In

acc

orda

nce

wit

h st

atut

ory

requ

irem

ents

, the

Tow

n co

ntri

bute

s to

the

City

of

Pert

h Su

pera

nnua

tion

fu

nd (

“the

Pla

n”)

amou

nts

dete

rmin

ed b

y th

e pl

an a

ctua

ry in

resp

ect o

f co

ntri

buto

ry m

embe

rs.

In re

spec

t of

non-

cont

ribu

tory

mem

bers

, the

Tow

n co

ntri

bute

s at

the

min

imum

Aw

ard/

SGC

cont

ribu

tion

rate

. A

s su

ch, a

sset

s ar

e ac

cum

ulat

ed in

the

plan

to m

eet m

embe

rs’ b

enefi

ts a

s th

ey a

ccru

e.

The

amou

nt o

f su

pera

nnua

tion

con

trib

utio

n pa

id b

y th

e To

wn

duri

ng th

e re

port

ing

peri

od w

as $

1,7

58

,58

8 (

20

14: $

1,6

32

,57

2).

City

of P

erth

Su

per F

und

W.A

. Sup

erOt

her

Tota

l

$$

$$

Supe

rann

uatio

n Gu

aran

tee

Char

ge75

,840

1,

029,

732

298,

798

1,40

4,37

0

Cont

ribut

ory

Sche

me

39,9

16

290,

353

-

330,

269

Defin

ed23

,949

-

-

23

,949

139,

705

1,32

0,08

5 29

8,79

8 1,

758,

588

18.

CON

TIN

GEN

T LI

ABI

LITI

ES

Min

dari

e Re

gion

al C

ounc

il

The

Tow

n of

Cam

brid

ge is

a m

embe

r of

the

Min

dari

e Re

gion

al C

ounc

il. T

he M

inda

rie

Regi

onal

Cou

ncil

has

esta

blis

hed

a Re

sour

ce R

ecov

ery

Faci

lity

at N

eera

bup.

A re

quir

emen

t of

the

proj

ect t

o su

ccee

d is

the

sign

ing

of a

Fin

anci

al G

uara

ntee

“D

eed

of G

uara

ntee

” by

all

seve

n m

embe

r Cou

ncils

to s

atis

fy fi

nanc

ial s

ecur

ity

requ

irem

ents

by

the

cont

ract

or u

nder

taki

ng th

e pr

ojec

t. A

t a S

peci

al C

ounc

il M

eeti

ng h

eld

on 1

1 S

epte

mbe

r 20

07, t

he T

own

acce

pted

a m

axim

um e

xpos

ure

unde

r the

Dee

d of

Gua

rant

ee o

f $

7.3

3 m

illio

n. T

he p

roba

bilit

y of

the

Dee

d of

G

uara

ntee

cry

stal

lisin

g is

ver

y lo

w.

The

Dee

d of

Gua

rant

ee w

ill o

nly

crys

talli

se if

:

(a)

The

Min

dari

e Re

gion

al C

ounc

il is

una

ble

to m

eet t

he p

aym

ents

and

ther

e is

a

Min

dari

e Re

gion

al C

ounc

il de

faul

t und

er th

e Re

sour

ce R

ecov

ery

Faci

lity

Agr

eem

ent (

RR

FA);

(b)

Min

dari

e Re

gion

al C

ounc

il ob

ligat

ion

to s

ettl

e a

debt

due

to a

For

ce M

ajeu

re

even

t whi

ch is

not

cov

ered

by

insu

ranc

e.

Lo

an G

uara

ntee

s -

Club

s

The

Tow

n is

a g

uara

ntor

for

the

loan

bal

ance

out

stan

ding

as

at 3

0 J

une

20

15

take

n ou

t by

the

follo

win

g cl

ubs:

• Fl

orea

t Ten

nis

Club

$3

2,7

59

• La

ke M

onge

r Rec

reat

ion

Club

$14

5,9

61

The

Tow

n’s

liabi

lity

is li

mit

ed to

the

amou

nt o

f th

e lo

an o

utst

andi

ng in

the

case

of

any

defa

ult b

y th

e cl

ubs

in m

eeti

ng th

eir l

oan

liabi

lity

com

mit

men

ts.

89Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

19.

CAPI

TAL

AN

D L

EASI

NG

CO

MM

ITM

ENTS

(a)

Ope

rati

ng L

ease

Com

mit

men

ts

At t

he re

port

ing

date

the

Tow

n of

Cam

brid

ge h

ad a

n ob

ligat

ion

unde

r an

oper

atin

g le

ase

wit

h re

spec

t to

the

golf

car

ts, p

lant

and

ligh

t flee

t at t

he

Wem

bley

Gol

f Co

urse

. A

mou

nts

paya

ble

cont

ract

ed f

or b

ut n

ot c

apit

alis

ed in

th

e ac

coun

ts a

re:

30 J

une

2015

30 J

une

2014

$$

Not l

ater

than

1 y

ear

296

,680

4

22,7

80

Late

r tha

n on

e ye

ar b

ut n

ot la

ter t

han

five

year

s 2

38,1

36

534

,816

534,

816

957,

596

(b)

Com

mit

men

t for

Cap

ital

Exp

endi

ture

The

Tow

n ha

s en

tere

d in

to c

ontr

acts

for

the

follo

win

g m

ajor

cap

ital

pro

ject

s fo

r 20

15

/20

16:

• Co

nstr

ucti

on o

f th

e W

embl

ey G

olf

Cour

se h

ospi

talit

y an

d m

inia

ture

gol

f pr

ojec

t at a

tota

l cos

t of

$1

2.8

mill

ion.

20.

FEES

AN

D C

HA

RGES

BY

PRO

GRA

M30

Jun

e 20

1530

Jun

e 20

14

$$

Gene

ral P

urpo

se F

undi

ng 6

2,29

4 5

3,86

3

Gove

rnan

ce 6

0,72

3 6

6,31

2

Law

Orde

r and

Pub

lic S

afet

y 1

40,4

34

129

,856

Healt

h 7

2,77

0 6

3,45

0

Educ

atio

n &

Wel

fare

60,

510

58,

693

Com

mun

ity A

men

ities

2,8

08,8

69

2,6

99,5

98

Recr

eatio

n an

d Cu

lture

8,3

51,6

50

8,9

52,6

38

Tran

spor

t 1

,792

,184

1

,560

,923

Econ

omic

Serv

ices

500

,544

5

83,1

48

Othe

r Pro

perty

and

Ser

vices

88,

818

92,

294

13,

938,

796

14,

260,

775


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

21.

GRA

NTS

, SU

BSID

IES

AN

D C

ON

TRIB

UTI

ON

S

(a)

REVE

NU

E BY

PRO

GRA

M

30 J

une

2015

30 J

une

2014

$$

Gene

ral P

urpo

se F

undi

ng 1

,472

,833

4

62,9

96

Gove

rnan

ce -

8

9,03

2

Law

Orde

r and

Pub

lic S

afet

y 1

,399

,194

3

53,3

94

Healt

h 5

,100

4

,750

Educ

atio

n &

Wel

fare

994

,655

9

48,4

14

Com

mun

ity A

men

ities

570

,717

1

54,6

42

Recr

eatio

n an

d Cu

lture

875

,080

1

,483

,005

Tran

spor

t 1

,455

,376

1

,387

,544

Othe

r Pro

perty

29,

573

53,

636

6,8

02,5

28

4,9

37,4

13

(b

) RE

VEN

UE

BY N

ATU

RE O

R TY

PE

30 J

une

2015

30 J

une

2014

$$

Gran

ts O

pera

ting

3,3

71,2

07

2,6

57,2

99

Gran

ts fo

r the

dev

elop

men

t of a

sset

s 3

,431

,321

2

,280

,114

6,8

02,5

28

4,9

37,4

13

(c

) O

PERA

TIN

G A

ND

NO

N O

PERA

TIN

G G

RAN

TS &

CO

NTR

IBU

TIO

NS

BY P

ROG

RAM

30 J

une

2015

30 J

une

2014

Oper

atin

g No

n Op

erat

ing

Oper

atin

g No

n Op

erat

ing

$$

$$

Gene

ral P

urpo

se F

undi

ng 1

,472

,833

-

4

62,9

96

-

Gove

rnan

ce -

-

8

9,03

2 -

Law

Orde

r and

Pub

lic S

afet

y 2

4,19

4 1

,375

,000

5

1,07

6 3

02,3

18

Healt

h 5

,100

-

4

,750

-

Educ

atio

n &

Wel

fare

988

,009

6

,646

9

44,3

82

4,0

32

Com

mun

ity A

men

ities

8,1

45

562

,572

2

,328

1

52,3

14

Recr

eatio

n an

d Cu

lture

500

,990

3

74,0

90

385

,793

1

,097

,212

Tran

spor

t 3

42,3

63

1,1

13,0

13

663

,306

7

24,2

38

Othe

r Pro

perty

29,

573

-

53,

636

-

3,3

71,2

07

3,4

31,3

21

2,6

57,2

99

2,2

80,1

14

91Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

22.

DIS

POSA

L O

F A

SSET

S A

ND

LA

ND

HEL

D F

OR

RESA

LE

Clas

s of

Ass

ets

Net B

ook

Valu

eSa

le P

rice

Gain

/(Lo

ss) o

n Sa

le

Actu

alBu

dget

Actu

alBu

dget

Actu

alBu

dget

$$

$$

$$

Gain

on

Disp

osal

of A

sset

s

Land

Hel

d fo

r Res

ale 2

,824

,010

3

,127

,000

7

,967

,317

8

,346

,000

5

,143

,307

5

,219

,000

Land

-

-

1,0

99,0

91

3,3

00,0

00

1,0

99,0

91

3,3

00,0

00

Furn

iture

and

Equ

ipm

ent

-

-

1,5

00

-

1,5

00

-

Plan

t and

Equ

ipm

ent

103

,737

4

3,00

0 1

21,8

19

77,

500

18,

082

34,

500

Subt

otal

2,9

27,7

47

3,1

70,0

00

9,1

89,7

27

11,

723,

500

6,2

61,9

80

8,5

53,5

00

Loss

on

Disp

osal

of A

sset

s

Build

ings

828

,320

-

-

-

(8

28,3

20)

-

Furn

iture

and

Equ

ipm

ent

5

-

-

-

(5)

-

Plan

t and

Equ

ipm

ent

218

,059

3

52,0

00

169

,259

2

64,0

00

(48,

800)

(88,

000)

Infra

stru

ctur

e

Par

ks a

nd R

eser

ves

35,

134

-

-

-

(35,

134)

-

Roa

ds a

nd L

anes

11,

466

-

-

-

(11,

466)

-

Foo

tpat

hs 1

21,8

86

-

-

-

(121

,886

) -

Oth

er In

frast

ruct

ure

8,5

53

-

-

-

(8,5

53)

-

Subt

otal

1,2

23,4

23

352

,000

1

69,2

59

264

,000

(1

,054

,164

) (8

8,00

0)

Tota

l 4

,151

,170

3

,522

,000

9

,358

,986

1

1,98

7,50

0 5

,207

,816

8

,465

,500


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

23.

STAT

EMEN

T O

F RA

TIN

G IN

FORM

ATIO

N

2014

Ac

tual

$

Rate

able

Va

lue $

Rate

in

Dolla

rCe

nts)

2015

Bu

dget

$

2015

Ac

tual

$

Gene

ral R

ate

9,80

3,19

8 Gr

oss

Rent

al Va

lue

5,57

2 As

sess

men

ts18

6,39

2,79

7 5.

690

10,

606,

000

10,

605,

728

9,92

3,15

6 Un

impr

oved

Valu

es

4,44

4 As

sess

men

ts0.

208

10,

224,

000

10,

224,

226

Min

imum

Rat

e

860,

925

Gros

s Re

ntal

valu

e -

967

@$9

1012

,335

,789

NA

880

,000

8

79,9

70

92,7

15

Unim

prov

ed V

alue

- 11

1 @

$910

21,9

15,0

00

NA 1

01,0

00

101

,010

Inte

rim R

ates

263,

865

Gros

s Re

ntal

Valu

e5.

690

300

,000

4

33,8

25

22,2

12

Unim

prov

ed V

alue

0.20

8 2

5,00

0 (3

,964

)

(108

)Le

ss R

ates

Writ

ten

Off

--

10,9

27,8

80

Tota

l Gro

ss R

enta

l 1

1,78

6,00

0 1

1,91

9,52

3

10,0

38,0

83

Tota

l Uni

mpr

oved

10,

350,

000

10,

321,

272

20,9

65,9

63

22,

136,

000

22,

240,

795

36,3

52

Rate

s Re

ceive

d in

Adv

ance

-

(46,

123)

21,0

02,3

15

Tota

l Rat

es 2

2,13

6,00

0 2

2,19

4,67

2

90,4

27

Rate

Inst

almen

t Int

eres

t @5.

5% 9

0,00

0 9

3,33

9

53,8

63

Rate

Adm

inist

ratio

n Fe

e $8

.00

Per I

nsta

lmen

t 5

4,00

0 6

2,29

4

44,5

34

Late

Pay

men

t Int

eres

t @11

% 5

0,00

0 4

1,75

7

6,90

9 Pe

nsio

ner D

efer

red

Inte

rest

8,0

00

17,

945

21,1

98,0

48

22,

338,

000

22,

410,

007

The

Tow

n is

sued

rate

s on

11

Aug

ust 2

014

, wit

h pa

ymen

t to

be m

ade

in e

ithe

r ful

l by

17 S

epte

mbe

r 20

14 (

35

day

s fr

om d

ate

of is

sue

of n

otic

es)

or b

y fo

ur in

stal

men

ts a

s pr

ovid

ed f

or in

the

Loca

l Gov

ernm

ent A

ct 1

99

5.

The

due

date

s fo

r eac

h in

stal

men

t wer

e:

Firs

t Ins

talm

ent

17

Sep

tem

ber 2

014

Seco

nd In

stal

men

t 1

9 N

ovem

ber 2

014

Thir

d In

stal

men

t

2

1 J

anua

ry 2

01

5

Four

th In

stal

men

t

26

Mar

ch 2

01

5

An

inte

rest

rate

of

5.5

% p

er a

nnum

and

an

adm

inis

trat

ion

fee

of $

8.0

0 a

pplie

d to

th

e se

cond

, thi

rd a

nd f

ourt

h in

stal

men

ts.

An

inte

rest

rate

of

11

% w

as c

harg

ed f

or

the

late

pay

men

t of

rate

s. T

he re

venu

e ra

ised

fro

m th

ese

char

ges

is d

etai

led

belo

w:

2015

Ac

tual

2015

Bu

dget

2014

Ac

tual

$$

$In

stalm

ent I

nter

est

5.5%

per

ann

um 9

3,33

9 9

0,00

0 9

0,42

7

Adm

inist

ratio

n Fe

e$8

.00

per i

nsta

lmen

t 6

2,29

4 5

4,00

0 5

3,86

3

Late

Pay

men

t Int

eres

t11

% p

er a

nnum

41,

757

50,

000

44,

534

197

,390

1

94,0

00

188

,824

4,90

3,94

0,00

0

24.

TRU

ST F

UN

DS

Fund

s ov

er w

hich

the

Tow

n ha

s no

con

trol

and

whi

ch a

re n

ot in

clud

ed in

the

Fina

ncia

l Re

port

are

as

follo

ws:

Uncl

aim

ed M

onie

s30

Jun

e 20

15

Actu

al30

Jun

e 20

14

Actu

al$

$

Open

ing

Balan

ce40

,480

38,3

05

Rece

ipts

534

2,35

6

Paym

ents

(318

)(1

81)

Cash

at B

ank

40,6

9640

,480

Trus

t - B

onds

Cash

at B

ank

47,6

48 -

Term

Dep

osits

1,89

0,37

51,

593,

213

Clos

ing

Bala

nce

1,93

8,02

31,

593,

213

As

the

Tow

n pe

rfor

ms

only

a c

usto

dial

role

in re

spec

t of

thes

e m

onie

s an

d th

eref

ore

cann

ot b

e us

ed f

or C

ounc

il pu

rpos

es, t

hey

are

subs

eque

ntly

exc

lude

d fr

om th

e Fi

nanc

ial R

epor

t.

93Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

25.

EMPL

OYE

E N

UM

BERS

20

15

2014

The

num

ber o

f fu

ll ti

me

equi

vale

nt e

mpl

oyee

s as

at r

epor

ting

dat

e:

19

5

19

1

26.

MEM

BERS

OF

COU

NCI

L RE

MU

NER

ATIO

N

Fee

30 J

une

2015

Ac

tual

30 J

une

2015

Bu

dget

30 J

une

2014

Ac

tual

$$

$$

Annu

al M

eetin

g Fe

e(S

ectio

n 5.

99)

May

or 3

0,38

5 3

0,38

5 3

0,30

0 2

9,50

0

Coun

cillo

r 2

2,66

0 1

81,2

81

181

,200

1

76,6

51

Sub

Tota

l 2

11,6

66

211

,500

2

06,1

51

Annu

al L

ocal

Gov

ernm

ent A

llow

ance

(Sec

tion

5.98

(5)(b

)M

ayor

62,

000

61,

800

62,

000

60,

000

Depu

ty M

ayor

15,

500

15,

450

15,

500

15,

000

Sub

Tota

l 7

7,25

0 7

7,50

0 7

5,00

0

Pres

crib

ed E

xpen

se R

eim

burs

emen

t

(Sec

tion

5.98

(2))

Tele

com

mun

icatio

n Al

lowa

nce

3,7

00

31,

500

33,

000

30,

701

Othe

r 1

90

500

1

,052

Subt

otal

31,

690

33,

500

31,

753

Tota

l Mem

bers

Rem

uner

atio

n 3

20,6

06

322

,500

3

12,9

04

27.

SUBS

EQU

ENT

EVEN

TSTh

ere

are

no s

igni

fica

nt s

ubse

quen

t eve

nts,

oth

er th

an th

e fo

llow

ing:

Maj

or L

and

Tran

sact

ions

Perr

y La

kes

Rede

velo

pmen

t Pro

ject

The

Stat

e G

over

nmen

t ass

umed

con

trol

of

the

Perr

y La

kes

Rede

velo

pmen

t pro

ject

in

20

05

aft

er p

assi

ng th

e Pe

rry

Lake

s Re

deve

lopm

ent A

ct 2

00

5 (

the

Act

). A

t the

co

mpl

etio

n of

the

proj

ect,

the

Tow

n of

Cam

brid

ge w

as o

wed

$5

0 m

illio

n w

hich

as

per t

he A

ct c

an b

e pa

id in

cas

h, la

nd o

r a c

ombi

nati

on o

f ca

sh a

nd la

nd.

In M

ay 2

01

5 th

is y

ear,

The

Tow

n re

ceiv

ed a

repo

rt f

rom

the

Min

iste

r for

Pla

nnin

g on

the

prop

osed

set

tlem

ent w

ith

the

Stat

e G

over

nmen

t for

the

Perr

y La

kes

rede

velo

pmen

t as

follo

ws:

• Th

e se

ttle

men

t of

the

$5

0 m

illio

n is

to b

e m

ade

thro

ugh

a co

mbi

nati

on o

f la

nd a

nd c

ash;

• Th

e th

ree

apar

tmen

t sit

es (

lots

23

1, 2

32

and

23

3)

will

be

tran

sfer

red

to

the

Tow

n by

30

Jun

e 2

01

5;

• Th

e Va

luer

Gen

eral

will

ass

ess

the

valu

e of

the

land

in a

ccor

danc

e w

ith

the

requ

irem

ents

of

the

Act

(se

ctio

n 4

(3)(

b));

• Th

e ba

lanc

e (i

.e. $

50

mill

ion

less

the

land

val

ue)

will

be

paid

to th

e To

wn

in

cash

in th

e 2

016

/17

fina

ncia

l yea

r; a

nd

• B

oth

the

MR

S (c

urre

ntly

zon

ed U

rban

Def

erre

d) a

nd th

e To

wn’

s pl

anni

ng

sche

me

will

nee

d to

be

amen

ded

to ‘n

orm

alis

e’ th

e de

velo

pmen

t con

trol

s ov

er th

e la

nd p

rior

to th

e fi

nal p

aym

ent b

eing

mad

e to

the

Tow

n.

The

tran

sfer

of

the

thre

e ap

artm

ent s

ites

, val

ued

at $

27.4

mill

ion

(ex

GST

),

subs

eque

ntly

occ

urre

d on

21

Jul

y 2

01

5.

The

rem

aini

ng b

alan

ce o

f $

22

.6 m

illio

n is

to

be

paid

in c

ash

duri

ng th

e 2

016

/20

17 fi

nanc

ial y

ear.

The

Coun

cil a

t its

Aug

ust 2

01

5 C

ounc

il m

eeti

ng h

as d

ecid

ed to

sel

l lot

23

2, 1

M

eagh

er D

rive

and

lot 2

33

, 29

Sta

dium

Dri

ve b

y w

ay o

f te

nder

.


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

28.

MA

JOR

LAN

D T

RAN

SACT

ION

S (a

) K

alin

da D

rive

/The

Bou

leva

rd S

ubdi

visi

on (O

cean

Mia

)

All

lots

wit

hin

the

Oce

an M

ia la

nd d

evel

opm

ent w

ere

sold

dur

ing

the

20

13/2

014

fina

ncia

l yea

r, w

ith

the

exce

ptio

n of

one

mul

ti re

side

ntia

l lot

, whi

ch w

as s

old

and

sett

led

duri

ng J

uly

20

14 w

ith

sale

pro

ceed

s of

$3

.65

mill

ion

book

ed in

the

20

14/2

01

5 fi

nanc

ial y

ear.

Fina

ncia

l det

ails

rela

ted

to th

is tr

ansa

ctio

n ar

e as

fol

low

:

2006

/200

7 Ac

tual

2007

/200

8 Ac

tual

2008

/200

9 Ac

tual

2009

/201

0 Ac

tual

2010

/201

1 Ac

tual

2011

/201

2 Ac

tual

2012

/201

3 Ac

tual

2013

/201

4 Ac

tual

2014

/201

5 Ac

tual

Tota

l

$$

$$

$$

$$

$$

Reve

nue

Land

Sale

s -

1

4,96

5,00

0 2

,942

,075

8

,888

,000

-

8

20,0

00

2,7

85,6

12

22,

069,

388

3,6

50,0

00

56,

120,

075

Inte

rest

-

5,4

93

56,

502

-

-

2,8

23

-

-

-

64,

818

14,

970,

493

2,9

98,5

77

8,8

88,0

00

-

822

,823

2

,785

,612

2

2,06

9,38

8 3

,650

,000

5

6,18

4,89

3

Less

: GST

-

(1,1

24,9

46)

(224

,294

) (6

46,0

63)

-

(58,

362)

(65,

368)

(654

,848

) (9

3,72

2) (2

,867

,603

)

-

13,

845,

547

2,7

74,2

83

8,2

41,9

37

-

764

,461

2

,720

,244

2

1,41

4,54

0 3

,556

,278

5

3,31

7,29

0

Expe

nditu

re

Deve

lopm

ent C

osts

769

,615

6

,673

,306

4

55,5

83

-

-

40,

078

133

,269

2

15,0

75

-

8,2

86,9

26

Capi

talis

ed In

tere

st 6

18,2

68

690

,875

-

-

-

-

-

-

-

1

,309

,143

1,3

87,8

83

7,3

64,1

81

455

,583

-

-

4

0,07

8 1

33,2

69

215

,075

-

9

,596

,069

Net R

even

ue (1

,387

,883

) 6

,481

,366

2

,318

,700

8

,241

,937

-

7

24,3

83

2,5

86,9

75

21,

199,

465

3,5

56,2

78

43,

721,

221

Asse

ts a

s at

30

June

1,3

87,8

83

6,6

49,8

10

6,7

23,9

35

5,2

88,5

25

5,2

88,5

25

5,1

93,5

81

4,8

56,2

76

1,0

76,0

42

-

Net A

sset

s as

at 3

0 Ju

ne 1

,387

,883

6

,649

,810

6

,723

,935

5

,288

,525

5

,288

,525

5

,193

,581

4

,856

,276

1

,076

,042

-

95Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

28.

MA

JOR

LAN

D T

RAN

SACT

ION

S (c

onti

nued

)

(b)

Tam

ala

Park

- C

atal

ina

Esta

te

The

Tow

n is

a o

ne tw

elft

h (1

/12

) ow

ner o

f Lo

t 95

04

Tam

ala

Park

wit

h si

x ot

her C

ounc

ils (

Citi

es o

f Pe

rth,

Joo

ndal

up, S

tirl

ing,

Vin

cent

and

Wan

nero

o an

d th

e To

wn

of V

icto

ria

Park

).

The

seve

n ow

ner c

ounc

ils h

ave

esta

blis

hed

the

Tam

ala

Park

Reg

iona

l Cou

ncil

wit

h th

e sp

ecifi

c fu

ncti

on o

f ca

rryi

ng o

ut a

resi

dent

ial l

and

deve

lopm

ent,

kno

wn

as th

e Ca

talin

a Es

tate

. As

part

ow

ner o

f th

e la

nd, t

he T

own

is e

ntit

led

to o

ne tw

elft

h of

the

net p

roce

eds

of th

e la

nd d

evel

opm

ent.

Dur

ing

the

fina

ncia

l yea

r end

ed 3

0 J

une

20

15

, one

hun

dred

and

nin

ety

five

lots

of

land

wer

e se

ttle

d. T

he T

own

rece

ived

sal

es p

roce

eds

of $

4,4

11

,04

0 a

nd b

ooke

d it

s sh

are

of

asso

ciat

ed d

evel

opm

ent a

nd s

ellin

g co

sts

of $

1,7

47,9

68

, res

ulti

ng in

a g

ain

on d

ispo

sal o

f la

nd o

f $

2,6

63

,07

2 w

hich

has

bee

n re

flec

ted

in th

e To

wn’

s St

atem

ent o

f Co

mpr

ehen

sive

In

com

e. T

his

note

sho

uld

also

be

read

in c

onju

ncti

on w

ith

Not

e 3

1 -

Inve

stm

ent i

n Re

gion

al C

ounc

ils.

2012

/201

3 Ac

tual

2013

/201

4 Ac

tual

2014

/201

5 Ac

tual

Tota

l

$$

$$

Reve

nue

Proc

eeds

from

Lan

d Sa

les

3,6

44,3

46

4,5

23,1

24

5,0

92,6

11

13,

260,

081

Less

: GST

(94,

795)

(73,

925)

(64,

566)

(233

,286

)

3,5

49,5

51

4,4

49,1

99

5,0

28,0

45

13,

026,

795

Less

: Dev

elop

men

t Cos

ts (3

65,3

57)

(489

,058

) (6

17,0

05)

(1,4

71,4

20)

3,1

84,1

94

3,9

60,1

41

4,4

11,0

40

11,

555,

375

Cost

of L

and

Sold

(1,3

09,1

44)

(1,8

29,8

14)

(1,7

47,9

68)

(4,8

86,9

26)

Profi

t on

Sale

of L

and

1,8

75,0

50

2,1

30,3

27

2,6

63,0

72

6,6

68,4

49

Equi

ty in

Tam

ala P

ark

Regi

onal

Coun

cil 2

,334

,463

3

,535

,548

4

,007

,855

La

nd H

eld

for R

esale

145

,264

6

,962

2

16,7

00

Unim

prov

ed E

nglo

bo L

and

-

7,5

00,0

00

6,9

37,7

44

Net A

sset

s as

at 3

0 Ju

ne 2

,479

,727

1

1,04

2,51

0 1

3,82

5,37

1


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

29.

MA

JOR

TRA

DIN

G U

ND

ERTA

KIN

GTh

e W

embl

ey G

olf

Cour

se q

ualifi

es u

nder

the

min

imum

requ

irem

ents

of

Sect

ion

3.5

9 o

f th

e Lo

cal G

over

nmen

t Act

19

95

and

Reg

ulat

ion

9 o

f th

e Fu

ncti

ons

and

Gen

eral

Reg

ulat

ions

for

a

maj

or tr

adin

g un

dert

akin

g. T

he T

own

does

not

ope

rate

any

oth

er m

ajor

trad

ing

unde

rtak

ings

.

The

Wem

bley

Gol

f Co

urse

ope

rate

s as

a s

tand

-alo

ne a

ctiv

ity

and

pays

the

Tow

n an

ann

ual d

ivid

end

whi

ch w

as $

1.5

7 m

illio

n fo

r 30

Jun

e 2

01

5 (

20

14: $

1.5

8 m

illio

n).

A s

umm

ary

of th

e fi

nanc

ial p

osit

ion

is d

etai

led

belo

w:

2015

Ac

tual

2015

Bu

dget

2014

Ac

tual

$$

$Re

venu

eFe

es 6

,876

,329

6

,947

,500

6

,680

,694

Ot

her

263

,887

3

11,0

00

305

,917

To

tal

7,1

40,2

16

7,2

58,5

00

6,9

86,6

11

Expe

nditu

reEx

pend

iture

5,9

08,7

19

5,7

32,9

00

5,5

21,9

54

Inte

rest

413

,374

4

11,5

00

497

,557

To

tal

6,3

22,0

93

6,1

44,4

00

6,0

19,5

11

Net P

rofit

from

Ope

ratio

ns 8

18,1

23

1,1

14,1

00

967

,100

Add

Back

Ove

rhea

ds/N

on C

ash

1,1

98,1

76

1,0

06,4

00

936

,344

Ne

t Cas

h Su

rplu

s fr

om O

pera

tions

2,0

16,2

99

2,1

20,5

00

1,9

03,4

44

Plus

Pro

ceed

s fro

m s

ale o

f Plan

t & E

quip

men

t -

2

0,00

0 3

3,63

6 Le

ss L

oan

Prin

cipal

Repa

ymen

ts (5

21,9

94)

(522

,000

) (3

66,6

07)

Tran

sfer

Fro

m R

eser

ve 7

2,97

4 -

9

,527

Tr

ansf

er F

rom

End

owm

ent L

and

Acco

unt

-

8,5

00

-

Cash

Div

iden

d to

the

Tow

n 1

,567

,279

1

,627

,000

1

,580

,000

The

info

rmat

ion

cont

aine

d in

the

abov

e O

pera

ting

Sta

tem

ent i

s in

clus

ive

of a

ll it

ems

of re

venu

e an

d ex

pend

itur

e 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

cou

rse

trad

ing

unde

rtak

ing.

The

re a

re n

o ot

her i

tem

s ou

tsid

e th

e ab

ove

Ope

rati

ng S

tate

men

t use

d fo

r thi

s pu

rpos

e.

The

inte

rest

exp

ense

am

ount

of

$4

13,3

74

for

the

20

14/2

01

5 fi

nanc

ial y

ear i

nclu

des

an in

tern

al in

tere

st c

harg

e fr

om th

e En

dow

men

t Lan

ds A

ccou

nt o

f $

30

,98

0.

This

has

bee

n el

imin

ated

wit

hin

the

Tow

n’s

fina

ncia

l rep

ort.

97Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

29.

MA

JOR

TRA

DIN

G U

ND

ERTA

KIN

G (

cont

inue

d)

A fi

ve y

ear f

orec

ast o

f ex

pect

ed fi

nanc

ial p

erfo

rman

ce f

or th

e go

lf c

ours

e ba

sed

on c

urre

nt tr

ends

in th

e in

dust

ry a

nd in

vest

men

t in

the

golf

cou

rse

hosp

ital

ity

and

min

iatu

re g

olf

is a

s fo

llow

s:

2015

$20

16 $

2017

$20

18 $

2019

$20

20 $

Tota

l $

Reve

nue

Fees

6,8

76,3

29

6,6

48,5

00

6,6

10,0

00

6,7

62,0

00

6,8

37,0

00

6,9

03,0

00

40,

636,

829

Othe

r 2

63,8

87

145

,000

2

,244

,000

2

,273

,000

2

,303

,000

2

,333

,000

9

,561

,887

Tota

l 7

,140

,216

6

,793

,500

8

,854

,000

9

,035

,000

9

,140

,000

9

,236

,000

5

0,19

8,71

6

Expe

nditu

reEx

pend

iture

6,3

22,0

93

6,2

18,0

00

7,0

34,0

00

6,9

28,0

00

6,8

97,0

00

6,8

64,0

00

40,

263,

093

Tota

l 6

,322

,093

6

,218

,000

7

,034

,000

6

,928

,000

6

,897

,000

6

,864

,000

4

0,26

3,09

3

Net P

rofit

from

Ope

ratio

ns 8

18,1

23

575

,500

1

,820

,000

2

,107

,000

2

,243

,000

2

,372

,000

9

,935

,623

Add

Back

Ove

rhea

ds/N

on C

ash

1,1

98,1

76

948

,500

1

,117

,000

1

,117

,000

1

,117

,000

1

,117

,000

6

,614

,676

Net C

ash

Surp

lus

from

Ope

ratio

ns 2

,016

,299

1

,524

,000

2

,937

,000

3

,224

,000

3

,360

,000

3

,489

,000

1

6,55

0,29

9

Less

: Loa

n Pr

incip

al Re

paym

ents

(521

,994

) (5

70,5

00)

(1,2

04,5

00)

(1,2

33,0

00)

(1,2

63,0

00)

(1,2

93,0

00)

(6,0

85,9

94)

Add:

Pro

ceed

s fro

m S

ale o

f Plan

t & E

quip

men

t -

2

0,00

0 -

-

-

-

2

0,00

0

Add:

Tran

sfer

from

Res

erve

to N

on-C

apita

l Wor

ks -

6

9,00

0 -

-

-

-

6

9,00

0

Tran

sfer

red

from

/(to)

Res

erve

72,

974

584

,500

1

7,50

0 (2

41,0

00)

(347

,000

) (4

46,0

00)

(359

,026

)

Cash

Div

iden

d to

the

Tow

n 1

,567

,279

1

,627

,000

1

,750

,000

1

,750

,000

1

,750

,000

1

,750

,000

1

0,19

4,27

9

30.

OTH

ER F

INA

NCI

AL

ASS

ETS

Inve

stm

ents

are

mad

e in

acc

orda

nce

wit

h th

e W

este

rn A

ustr

alia

n Tr

uste

e A

ct 1

96

2

(as

amen

ded)

and

are

reco

rded

at c

ost.

Hel

d To

Mat

urit

y In

vest

men

ts

Non

Curr

ent

30 J

une

2015

30 J

une

2014

$$

Mor

tgag

e ba

cked

Sec

urity

641

,707

6

27,2

45

641

,707

6

27,2

45

Not

e: C

urre

ntly

one

long

term

sec

urit

y re

mai

ns in

the

inve

stm

ent p

ortf

olio

, be

ing

a m

ortg

age

back

ed s

ecur

ity

“Em

eral

d Re

vers

e M

ortg

age

Seri

es 2

00

6-

1 C

lass

A”

whi

ch is

an

“AA

A”

cred

it ri

sk ra

ted

secu

rity

. A

s at

31

Jul

y 2

01

5

the

secu

rity

has

a m

arke

t val

ue o

f $

64

1,7

07 a

nd th

e ca

rryi

ng v

alue

of

the

inve

stm

ent o

f $

55

2,9

87 h

as b

een

incr

ease

d to

refl

ect t

his

valu

e w

ith

a fa

ir

valu

e ad

just

men

t of

$8

8,7

20

boo

ked

to th

e St

atem

ent o

f Co

mpr

ehen

sive

In

com

e.

It s

houl

d be

not

ed 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

redu

ced

as th

e un

derl

ying

mor

tgag

es a

re re

paid

wit

h $

26

2,4

82

rece

ived

sin

ce

the

secu

rity

was

acq

uire

d.


31.

INVE

STM

ENT

IN R

EGIO

NA

L CO

UN

CILS

- J

OIN

T VE

NTU

RE 2

015

(a) N

on-C

urre

nt A

sset

s30

Jun

e 20

1530

Jun

e 20

14

$$

Min

darie

Reg

iona

l Cou

ncil

5,15

5,27

43,

055,

371

Tam

ala P

ark

Regi

onal

Coun

cil4,

007,

855

3,53

5,54

8

9,16

3,12

96,

590,

919

(b) C

hang

e in

Equ

ity

Inte

rest

in th

e jo

int v

entu

re b

y Co

unci

l in

both

Min

dari

e Re

gion

al C

ounc

il an

d Ta

mal

a Pa

rk R

egio

nal C

ounc

il is

acc

ount

ed f

or b

y ap

plyi

ng th

e eq

uity

met

hod.

Und

er th

is

met

hod

of a

ccou

ntin

g, in

tere

st in

the

join

tly c

ontr

olle

d re

gion

al c

ounc

ils is

init

ially

re

cord

ed a

t cos

t and

adj

uste

d th

erea

fter

for

the

post

acq

uisi

tion

cha

nge

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

$2

,68

1,1

47 p

ost a

cqui

siti

on c

hang

e w

as b

ooke

d, m

ade

up o

f a

$2

,078

,84

0

incr

emen

t for

Min

dari

e Re

gion

al C

ounc

il an

d a

$6

02

,307

incr

emen

t for

Tam

ala

Park

Re

gion

al C

ounc

il.

Inve

stm

ent i

n Ta

mal

a Pa

rk$

Open

ing

Balan

ce a

s at

1 J

uly

2014

3,53

5,54

8

(bas

ed o

n dr

aft fi

nanc

ials)

Proc

eeds

from

sale

of T

amala

Par

k lan

d lo

ts in

201

4/15

4,41

1,04

0

Less

: Cos

t of L

and

Deve

lope

d an

d M

oved

to L

and

Held

for R

esale

(1,9

57,7

06)

Less

: Ret

urn

of E

quity

/Pro

fit fr

om T

PRC

(2,5

83,3

34)

Post

Acq

uisit

ion

Adju

stm

ent t

o Ch

ange

s in

Equ

ity60

2,30

7

Clos

ing

Balan

ce a

s at

30

June

201

54,

007,

855

Inve

stm

ent i

n M

inda

rie$

Open

ing

Balan

ce a

s at

1 J

uly

2014

3,05

5,37

1

(bas

ed o

n dr

aft fi

nanc

ials)

Reim

burs

emen

t of L

oan

Repa

ymen

ts21

,063

Post

Acq

uisit

ion

Adju

stm

ent t

o Ch

ange

s in

Equ

ity2,

078,

840

Clos

ing

Balan

ce a

s at

30

June

201

55,

155,

274

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

(c) M

inda

rie

Regi

onal

Cou

ncil

The

Min

dari

e Re

gion

al C

ounc

il w

as f

orm

ally

con

stit

uted

in D

ecem

ber 1

987

. The

To

wn

of C

ambr

idge

alo

ng w

ith

the

Citi

es o

f Pe

rth,

Wan

nero

o, J

oond

alup

, Sti

rlin

g an

d V

ince

nt a

nd th

e To

wn

of V

icto

ria

Park

, is

a m

embe

r of

the

Min

dari

e Re

gion

al C

ounc

il.

The

prim

ary

func

tion

of

the

Regi

onal

Cou

ncil

unde

r the

con

stit

utio

n ag

reem

ent i

s fo

r th

e or

derl

y an

d ef

fici

ent t

reat

men

t and

/or d

ispo

sal o

f w

aste

.

The

Tow

n of

Cam

brid

ge h

as a

one

twel

fth

(1/1

2)

equi

ty in

the

land

and

ass

ets

of

the

refu

se d

ispo

sal f

acili

ty a

s pe

r the

con

stit

utio

n am

endm

ent (

date

d 2

5 N

ovem

ber

19

96

) th

at re

cogn

ises

the

Tow

n as

a m

embe

r of

the

Min

dari

e Re

gion

al C

ounc

il.

The

Tow

n ha

s re

cogn

ised

in it

s bo

oks

the

inve

stm

ent o

f $

5,1

55

,27

4 w

hich

is

refl

ecte

d as

a c

ontr

ibut

ion

in M

inda

rie

Regi

onal

Cou

ncil’

s St

atem

ent o

f Fi

nanc

ial

Posi

tion

at 3

0 J

une

20

15

(un

audi

ted)

.

99Financial Report

31.

INVE

STM

ENT

IN R

EGIO

NA

L CO

UN

CILS

- J

OIN

T VE

NTU

RE 2

015

(c

onti

nued

)

The

Tow

n’s

inte

rest

in th

e jo

int v

entu

re a

s at

30

Jun

e 2

01

5 is

as

follo

ws:

2015 $

Inte

rest

in th

e Jo

int v

entu

re a

s at

30

June

201

55,

155,

274

Repr

esen

ted

by s

hare

of J

oint

ven

ture

ent

ity’s

finan

cial p

ositio

n:

Curre

nt A

sset

s2,

482,

994

Non

Curre

nt A

sset

s5,

541,

279

Tota

l Ass

ets

8,02

4,27

3

Curre

nt L

iabilit

ies

1,13

0,55

0

Non

Curre

nt L

iabilit

ies

1,73

8,44

9

Tota

l Lia

bilit

ies

2,86

8,99

9

Net A

sset

s5,

155,

274N

otes

to a

nd fo

rmin

g pa

rt o

f the

Fin

anci

al R

epor

tFO

R TH

E YE

AR

END

ED 3

0 JU

NE

2015

(iv)

Tam

ala

Park

Reg

iona

l Cou

ncil

The

Tow

n is

a o

ne tw

elft

h (1

/12

) ow

ner o

f Lo

t 95

04

Tam

ala

Park

wit

h si

x ot

her

Coun

cils

(Ci

ties

of

Pert

h, J

oond

alup

, Sti

rlin

g, V

ince

nt a

nd W

anne

roo

and

the

Tow

n of

V

icto

ria

Park

).

The

seve

n ow

ner c

ounc

ils h

ave

esta

blis

hed

the

Tam

ala

Park

Reg

iona

l Cou

ncil

wit

h th

e sp

ecifi

c fu

ncti

on o

f ca

rryi

ng o

ut a

resi

dent

ial l

and

deve

lopm

ent,

kno

wn

as th

e Ca

talin

a Es

tate

. As

part

ow

ner o

f th

e la

nd, t

he T

own

is e

ntit

led

to o

ne tw

elft

h of

the

net p

roce

eds

of th

e la

nd d

evel

opm

ent.

In 2

00

6, t

he O

wne

rs re

ceiv

ed $

16.5

5 m

illio

n fr

om th

e St

ate

Gov

ernm

ent f

or th

e tr

ansf

er o

f pa

rt o

f th

e la

nd to

‘Bus

h Fo

reve

r’. T

his

prov

ided

the

init

ial s

tart

up

equi

ty

for t

he p

roje

ct, t

he T

own’

s sh

are

bein

g $

1.3

5 m

illio

n. L

and

sale

s re

tain

ed b

y th

e Ta

mal

a Pa

rk R

egio

nal C

ounc

il ha

ve f

unde

d th

e st

aged

dev

elop

men

t in

acco

rdan

ce

wit

h th

e pr

ojec

t pla

n an

d du

ring

the

year

, the

Cou

ncil

retu

rned

$3

1 m

illio

n in

equ

ity

to th

e ow

ners

, fro

m la

nd s

ales

. The

Tow

n’s

shar

e w

as $

2,5

83,3

34

.

The

Tow

n’s

inte

rest

in th

e jo

int v

entu

re a

s at

30

Jun

e 2

01

5 is

as

follo

ws:

2015 $

Inte

rest

in th

e Jo

int v

entu

re a

s at

30

June

201

54,

007,

855

Repr

esen

ted

by s

hare

of J

oint

ven

ture

ent

ity’s

finan

cial p

ositio

n:

Curre

nt A

sset

s3,

870,

810

Non

Curre

nt A

sset

s16

4,17

7

Tota

l Ass

ets

4,03

4,98

7

Curre

nt L

iabilit

ies

24,5

54

Non

Curre

nt L

iabilit

ies

2,57

8

Tota

l Lia

bilit

ies

27,1

32

Net A

sset

s4,

007,

855


32.

BUD

GET

CO

MPA

RISO

NS

– N

ON

OPE

RATI

NG

N

et C

urre

nt A

sset

Pos

itio

n

The

net c

urre

nt a

sset

pos

itio

n ba

lanc

e ca

rrie

d fo

rwar

d fr

om th

e pr

evio

us fi

nanc

ial

year

aft

er a

djus

tmen

t for

Res

tric

ted

Ass

ets

for t

he p

urpo

se o

f th

e 2

014

/20

15

bu

dget

was

$3

,49

3,7

00

.

The

actu

al n

et c

urre

nt a

sset

pos

itio

n ba

lanc

e sh

own

in th

e au

dite

d fi

nanc

ial r

epor

t as

at 3

0 J

une

20

15

and

aft

er a

djus

tmen

t for

Res

tric

ted

Ass

ets

was

$3

,63

6,0

00

.

33.

ECO

NO

MIC

DEP

END

ENCY

Th

e To

wn

does

not

usu

ally

rece

ive

a si

gnifi

cant

por

tion

of

reve

nue

by w

ay o

f gr

ants

fr

om th

e St

ate

and

Fede

ral G

over

nmen

t. H

owev

er th

is fi

nanc

ial y

ear t

he to

tal

amou

nt o

f ca

sh g

rant

and

con

trib

utio

ns re

ceiv

ed f

rom

gov

ernm

ent s

ourc

es f

or th

e ye

ar e

nded

30

Jun

e 2

01

5 is

$6

,80

2,5

28

whi

ch re

pres

ents

13

% o

f to

tal r

even

ue

of $

51

,547

,04

2. T

he a

mou

nt o

f gr

ants

and

con

trib

utio

ns re

ceiv

ed b

y pr

ogra

m is

di

sclo

sed

in N

ote

21

.

34.

FIN

AN

CIA

L RI

SK M

AN

AG

EMEN

T

Coun

cil’s

act

ivit

ies

expo

se it

to a

var

iety

of

fina

ncia

l ris

ks in

clud

ing

pric

e ri

sk, c

redi

t ri

sk, l

iqui

dity

risk

and

inte

rest

rate

risk

. Th

e Co

unci

l’s o

vera

ll ri

sk m

anag

emen

t fo

cuse

s on

the

unpr

edic

tabi

lity

of fi

nanc

ial m

arke

ts a

nd s

eeks

to m

inim

ise

pote

ntia

l ad

vers

e ef

fect

s on

the

fina

ncia

l per

form

ance

of

the

Coun

cil.

Coun

cil d

oes

not e

ngag

e in

tran

sact

ions

exp

ress

ed in

for

eign

cur

renc

ies

and

is

ther

efor

e no

t sub

ject

to f

orei

gn c

urre

ncy

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

by th

e Co

unci

l.

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

The

Coun

cil h

eld

the

follo

win

g fi

nanc

ial i

nstr

umen

ts a

t rep

orti

ng d

ate:

Carr

ying

Val

ueFa

ir Va

lue

2015 $

2014 $

2015 $

2014 $

Fina

ncia

l Ass

ets

Cash

and

cas

h eq

uiva

lent

s

32,5

44,9

72

39,6

01,7

46

32,5

44,9

72

39,6

01,7

46

Rece

ivabl

es

2,23

6,05

5 2,

122,

097

2,23

6,05

5 2,

122,

097

Held

-to-m

atur

ity in

vest

men

ts

737,

518

811,

776

641,

707

627,

245

35

,518

,545

42

,535

,619

35,4

22,7

3442

,351

,088

Fina

ncia

l Lia

bilit

ies

Paya

bles

6,

618,

156

4,87

5,44

66,

618,

156

4,87

5,44

6

Borro

wing

s

13,2

15,0

03

14,3

19,7

50

13,1

78,7

71

11,2

02,3

56

19

,833

,159

19

,195

,196

19,7

96,9

2716

,077

,802

Fair

val

ue is

det

erm

ined

as

follo

ws:

• Ca

sh a

nd C

ash

Equi

vale

nts,

Rec

eiva

bles

, Pay

able

s -

esti

mat

ed to

the

carr

ying

va

lue

whi

ch a

ppro

xim

ates

net

mar

ket v

alue

.

• B

orro

win

gs -

est

imat

ed f

utur

e ca

sh fl

ows

disc

ount

ed b

y th

e cu

rren

t mar

ket

inte

rest

rate

s ap

plic

able

to a

sset

s an

d lia

bilit

ies

wit

h si

mila

r ris

k pr

ofile

s.

• H

eld

to M

atur

ity

inve

stm

ents

are

bas

ed o

n ne

t rea

lisab

le v

alue

as

at th

e re

port

ing

date

.

(a)

Cash

and

Cas

h Eq

uiva

lent

s

H

eld-

to-m

atur

ity

inve

stm

ents

Coun

cil’s

obj

ecti

ve is

to m

axim

ise

its

retu

rn o

n ca

sh a

nd in

vest

men

ts w

hils

t m

aint

aini

ng a

n ad

equa

te le

vel o

f liq

uidi

ty a

nd p

rese

rvin

g ca

pita

l. T

he fi

nanc

e ar

ea m

anag

es th

e ca

sh a

nd in

vest

men

ts p

ortf

olio

wit

h th

e as

sist

ance

of

an

inde

pend

ent a

dvis

er.

Coun

cil h

as a

n in

vest

men

t pol

icy

and

the

polic

y is

sub

ject

to

revi

ew b

y Co

unci

l. A

n In

vest

men

t Rep

ort i

s pr

ovid

ed to

Cou

ncil

on a

mon

thly

ba

sis

sett

ing

out t

he m

ake-

up a

nd p

erfo

rman

ce o

f th

e po

rtfo

lio.

The

maj

or ri

sk a

ssoc

iate

d w

ith

inve

stm

ents

is p

rice

risk

- th

e ri

sk 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

rice

s,

whe

ther

thes

e ch

ange

s ar

e ca

used

by

fact

ors

spec

ific

to in

divi

dual

fina

ncia

l in

stru

men

ts o

f th

eir i

ssue

rs o

r fac

tors

aff

ecti

ng s

imila

r ins

trum

ents

trad

ed in

a

mar

ket.

101Financial Report

34.

FIN

AN

CIA

L RI

SK M

AN

AG

EMEN

T (c

onti

nued

)

Cash

and

inve

stm

ents

are

als

o su

bjec

t to

inte

rest

rate

risk

- th

e ri

sk th

at m

ovem

ents

in

inte

rest

rate

s co

uld

affe

ct re

turn

s.

Ano

ther

risk

ass

ocia

ted

wit

h ca

sh a

nd in

vest

men

ts is

cre

dit r

isk

- th

e ri

sk th

at a

co

ntra

ctin

g en

tity

will

not

com

plet

e it

s ob

ligat

ions

und

er a

fina

ncia

l ins

trum

ent

resu

ltin

g in

a fi

nanc

ial l

oss

to C

ounc

il.

Coun

cil m

anag

es th

ese

risk

s by

div

ersi

fyin

g it

s po

rtfo

lio a

nd o

nly

purc

hasi

ng

inve

stm

ents

wit

h hi

gh c

redi

t rat

ings

or c

apit

al g

uara

ntee

s. C

ounc

il al

so s

eeks

adv

ice

from

an

inde

pend

ent a

dvis

or b

efor

e pl

acin

g an

y ca

sh in

to in

vest

men

ts.

Sens

itiv

ity

Ana

lysi

s

30

Jun

e 20

15

30 J

une

2014

$

$

Impa

ct o

f a 5

% (*

) mov

emen

t in

price

of i

nves

tmen

ts:

Equi

ty

37,0

00

40,5

00

Stat

emen

t of C

ompr

ehen

sive

Inco

me

37

,000

40

,500

Impa

ct o

f a 0

.5%

(201

3/20

14:1

%) m

ovem

ent i

n in

tere

st ra

tes

on c

ash

and

inve

stm

ents

:

Equi

ty

166,

000

404,

000

Stat

emen

t of C

ompr

ehen

sive

Inco

me

16

6,00

0 40

4,00

0

Not

es:

(*)

Sens

itiv

ity

perc

enta

ges

base

d on

man

agem

ent’

s ex

pect

atio

n of

fut

ure

pos

sibl

e m

arke

t mov

emen

ts.

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

(b)

Rece

ivab

les

Coun

cil’s

maj

or re

ceiv

able

s co

mpr

ise

rate

s an

d an

nual

cha

rges

and

use

r ch

arge

s an

d fe

es.

The

maj

or ri

sk a

ssoc

iate

d w

ith

thes

e re

ceiv

able

s is

cre

dit

risk

- th

e ri

sk th

at th

e de

bts

may

not

be

repa

id.

Coun

cil m

anag

es th

is ri

sk b

y m

onit

orin

g ou

tsta

ndin

g de

bt a

nd e

mpl

oyin

g de

bt re

cove

ry p

olic

ies.

Cred

it ri

sk o

n ra

tes

and

annu

al c

harg

es is

min

imis

ed b

y th

e ab

ility

of

Coun

cil

to re

cove

r the

se d

ebts

as

a se

cure

d ch

arge

ove

r the

land

- th

at is

, the

land

can

be

sol

d to

reco

ver t

he d

ebt.

Cou

ncil

is a

lso

able

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 f

urth

er e

ncou

rage

s pa

ymen

t.

The

leve

l of

outs

tand

ing

rece

ivab

les

is re

port

ed to

Cou

ncil

mon

thly

and

be

nchm

arks

are

set

and

mon

itor

ed f

or a

ccep

tabl

e co

llect

ion

perf

orm

ance

.

Coun

cil m

akes

sui

tabl

e pr

ovis

ion

for d

oubt

ful r

ecei

vabl

es a

s re

quir

ed a

nd

carr

ied

out c

redi

t che

cks

on m

ost n

on ra

te d

ebto

rs.

Ther

e ar

e no

mat

eria

l rec

eiva

bles

that

hav

e be

en s

ubje

ct to

a re

-neg

otia

tion

of

repa

ymen

t ter

ms.

The

profi

le o

f Co

unci

l’s c

redi

t ris

k at

repo

rtin

g da

te w

as:

30

Jun

e 20

15

30 J

une

2014

Perc

enta

ge o

f Rat

es a

nd A

nnua

l Cha

rges

:Cu

rrent

0%

0%

Over

due

100%

10

0%

All r

ates

out

stan

ding

at y

ear e

nd fo

r 201

4/20

15 a

re re

gard

ed a

s be

ing

over

due.

Perc

enta

ge o

f Oth

er R

ecei

vabl

es:

Curre

nt

37%

76

%Ov

erdu

e 63

%

24%

Trad

e re

ceiv

able

s ou

tsta

ndin

g fo

r mor

e th

an th

irty

day

s ar

e co

nsid

ered

to b

e ov

erdu

e. C

ounc

il’s

term

s of

trad

e ar

e th

irty

day

s.


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

34.

FIN

AN

CIA

L RI

SK M

AN

AG

EMEN

T (c

onti

nued

)

(c)

Paya

bles

Bo

rrow

ings

Paya

bles

and

bor

row

ings

are

bot

h su

bjec

t to

liqui

dity

risk

- th

at is

the

risk

that

insu

ffici

ent f

unds

may

be

on h

and

to m

eet p

aym

ent o

blig

atio

ns a

s an

d w

hen

they

fal

l due

. Co

unci

l m

anag

es th

is ri

sk b

y m

onit

orin

g it

s ca

sh fl

ow re

quir

emen

ts a

nd li

quid

ity

leve

ls a

nd m

aint

aini

ng a

n ad

equa

te c

ash

buff

er.

The

cont

ract

ual u

ndis

coun

ted

cash

flow

s of

Cou

ncil’

s Pa

yabl

es a

nd B

orro

win

gs a

re s

et o

ut in

the

Liqu

idit

y Se

nsit

ivit

y Ta

ble

belo

w:

Due

with

in

1 Ye

ar $

Due

betw

een

1 an

d 5

Year

s $

Due

afte

r 5

Year

s $

Tota

l co

ntra

ctua

l ca

sh fl

ows $

Carr

ying

va

lues

$

2014

Paya

bles

4,

875,

446

- -

4,87

5,44

6 4,

875,

446

Borro

wing

s

2,59

1,68

1 3,

746,

887

11,8

32,4

58

18,1

71,0

26

14,3

19,7

50

7,

467,

127

3,74

6,88

7 11

,832

,458

23

,046

,472

19

,195

,196

2015

Paya

bles

6,

618,

156

- -

6,61

8,15

6 6,

618,

156

Borro

wing

s

987,

400

3,90

1,17

8 12

,165

,794

17

,054

,372

13

,215

,003

7,

605,

556

3,90

1,17

8 12

,165

,794

23

,672

,528

19

,833

,159

103Financial Report

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

34.

FIN

AN

CIA

L RI

SK M

AN

AG

EMEN

T (c

onti

nued

)

(c)

Paya

bles

Bo

rrow

ings

Bor

row

ings

are

als

o su

bjec

t to

inte

rest

rate

risk

- th

e ri

sk th

at m

ovem

ents

in in

tere

st ra

tes

coul

d ad

vers

ely

affe

ct f

undi

ng c

osts

. Co

unci

l man

ages

this

risk

by

borr

owin

g lo

ng

term

and

fixi

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

tim

e of

neg

otia

tion

.

The

follo

win

g ta

bles

set

out

the

carr

ying

am

ount

of

the

fina

ncia

l ins

trum

ents

exp

osed

to in

tere

st ra

te ri

sk:

< 1

Yea

r $

> 1

< 2

Yea

rs

$>

2 <

3 Y

ears

$

> 3

< 4

Yea

rs

$>

4 <

5 Y

ears

$

> 5

Yea

rs

$To

tal

$

Wei

ghte

d Av

erag

e Ef

fect

ive

Inte

rest

Rat

e %

Year

End

ed 3

0 Ju

ne 2

014

Borr

owin

gs

Fixe

d Ra

te

Debe

ntur

es2,

210,

323

590,

485

609,

605

610,

195

627,

636

9,67

1,50

614

,319

,750

Wei

ghte

d Av

erag

eEf

fect

ive In

tere

st R

ate

2.66

%2.

94%

2.92

%2.

91%

2.90

%3.

00%

-2.

88%

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

eEf

fect

ive In

tere

st R

ate

3.02

%2.

99%

2.98

%3.

03%

3.02

%3.

00%

-3.

01%

35.

AU

DIT

ORS

REM

UN

ERAT

ION

30 J

une

2015

30 J

une

2014

$$

Audi

t of F

inan

cial R

epor

t 2

7,92

4 3

7,60

0

Othe

r Ser

vices

1,2

00

-

29,

124

37,

600

The

abov

e fe

es re

late

to p

rovi

sion

of

exte

rnal

aud

it s

ervi

ces

only

.


Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

36.

FIN

AN

CIA

L RA

TIO

S O

F TH

E A

CCO

UN

TSRa

tio20

1120

1220

1320

1420

15

Curr

ent R

atio

(Cur

rent

ass

ets

min

us re

stric

ted

asse

ts)

1.98

:12.

18:1

1.65

:11.

22:1

1.56

:1(C

urre

nt lia

biliti

es m

inus

liabi

lities

ass

ociat

ed w

ith re

stric

ted

asse

ts)

Deb

t Ser

vice

Cov

er R

atio

Annu

al Op

erat

ing

Surp

lus

befo

re in

tere

st a

nd e

xpen

ditu

re7.

69.

9521

.76

30.0

910

.03

Prin

cipal

and

Inte

rest

Ow

n So

urce

Rev

enue

Cov

erag

e Ra

tio

Own

Sour

ce O

pera

ting

Expe

nse

0.91

0.97

1.15

1.39

1.09

Oper

atin

g Ex

pens

e

Ope

rati

ng S

urpl

us R

atio

Oper

atin

g Re

venu

e le

ss O

pera

ting

Expe

nse

-1.4

%4.

3%19

.1%

33.0

%18

.3%

Own

Sour

ce O

pera

ting

Reve

nue

Ass

et C

onsu

mpt

ion

Rati

oDe

prec

iated

Rep

lacem

ent C

ost o

f Dep

recia

ble

Asse

ts56

.5%

56.7

%56

.9%

58.1

%54

.1%

Curre

nt R

eplac

emen

t Cos

t of D

epre

ciabl

e As

sets

Ass

et S

usta

inab

ility

Rat

ioCa

pita

l Ren

ewal

and

Repl

acem

ent E

xpen

ditu

re1.

051.

91.

141.

160.

64De

prec

iatio

n

Ass

et R

enew

al F

undi

ng R

atio

#NP

V of

Plan

ned

Capi

tal R

enew

s ov

er 1

0 ye

ars

N/A

N/A

1.0

1.0

1.0

NPV

of R

equi

red

Capi

tal E

xpen

ditu

re o

ver 1

0 ye

ars

# F

or t

he a

sset

rene

wal

fun

ding

rati

o, t

he a

ssum

ptio

n ha

s be

en m

ade

that

pla

nned

ass

et re

new

al e

xpen

ditu

re o

ver t

he n

ext

10

yea

rs w

ill b

e in

line

wit

h re

quir

ed c

apit

al e

xpen

ditu

re.

N/A

- D

ata

not

avai

labl

e.

105Financial Report

36.

FIN

AN

CIA

L RA

TIO

S O

F TH

E A

CCO

UN

TS (c

onti

nued

)

Curr

ent R

atio

Purp

ose:

To

ass

ess

adeq

uacy

of

wor

king

cap

ital

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

cos

ts f

rom

its

own

sour

ce o

f re

venu

e.

Ope

rati

ng S

urpl

us R

atio

Purp

ose:

To

mea

sure

the

abili

ty to

cov

er o

pera

tion

al c

osts

and

any

rem

aini

ng re

venu

e av

aila

ble

for c

apit

al

fund

ing

or o

ther

pur

pose

s.

Ass

et C

onsu

mpt

ion

Rati

o

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

ass

ess

the

rate

of

repl

acin

g or

rene

win

g ex

isti

ng n

on fi

nanc

ial a

sset

s to

the

cons

umpt

ion

rate

of

tota

l ass

et s

tock

.

Ass

et R

enew

al F

undi

ng R

atio

Purp

ose:

To

mea

sure

the

abili

ty to

fun

d fu

ture

pro

ject

ed a

sset

rene

wal

or r

epla

cem

ent.

Not

es to

and

form

ing

part

of t

he F

inan

cial

Rep

ort

FOR

THE

YEA

R EN

DED

30

JUN

E 20

15

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

annual report - town of cambridge · annual report 2014 - 2015. town of cambridge annual report...

Documents