Note 8: Non-financial assets


		2015	2014
	Notes	$'000	$'000
8A: Land and buildings
Land
Fair value	8C	1,400	1,400


Buildings on freehold land
Fair value	8C	510	510
Accumulated depreciation	8C	(20)	−
Total buildings on freehold land		490	510

Leasehold improvements
Fair value		67,256	64,323
Accumulated depreciation		(7,791)	(77)
Work in progress (at cost)		754	−
Total leasehold improvements	8C	60,219	64,246
Total land and buildings	8C	62,109	66,156

No indicators of impairment were found for land and buildings.

No land or buildings are expected to be sold or disposed of within the next 12 months.

All revaluations were undertaken in accordance with the revaluation policy stated at Note 1. In 2015 there was a nil increment (2014:$0.053m increment) for buildings on freehold land. In 2015 there was a nil increment (2014: $0.100m) for leasehold improvements that were credited to the asset revaluation surplus by asset class and included in the equity section of the balance sheet.

8B: Property, plant and equipment

Heritage and cultural
Library (at fair value)		5,930	5,930
Artworks - Artbank (at fair value)		35,793	35,171
Accumulated depreciation		(141)	−
Total heritage and cultural	8C	41,582	41,101

Other property, plant and equipment
Fair value		35,120	52,633
Accumulated depreciation		(17,266)	(33,655)
Total other property, plant and equipment	8C	17,854	18,978
Total property, plant and equipment		59,436	60,079

No indicators of impairment were found for property, plant and equipment.

No property, plant or equipment is expected to be sold or disposed of within the next 12 months.

All revaluations were undertaken in accordance with the revaluation policy stated at Note 1. In 2015 there was a nil increment (2014: $3.387m increment) for heritage and cultural that was credited against the asset revaluation surplus by asset class and included in the equity section of the balance sheet.

All revaluations were undertaken in accordance with the revaluation policy stated at Note 1. A revaluation of property, plant and equipment was undertaken by an independent valuer with effect from 30 June 2015. In 2015 a revaluation decrement for property, plant and equipment of $0.094m (2014: nil increment) was debited against the asset revaluation surplus by asset class and included in the equity section of the balance sheet.

Note 8C: Reconciliation of the opening and closing balances of property, plant and equipment for 2014-2015

	Land	Buildings	Leasehold improvements	Total land and buildings	Heritage and cultural ¹	Other property, plant & equipment	Total
	$'000	$'000	$'000	$'000	$'000	$'000	$'000
As at 1 Jul 2014
Gross book value	1,400	510	64,323	66,233	41,101	52,633	159,967
Accumulated depreciation and impairment	−	−	(77)	(77)	−	(33,655)	(33,732)
Total as at 1 July 2014	1,400	510	64,246	66,156	41,101	18,978	126,235
Additions
By purchase	−	−	3,687	3,687	622	5,285	9,594
Revaluations and impairments recognised in other comprehensive income	−	−	−	−	−	(94)	(94)
Assets first recognised	−	−	−	−	−	−	−
Depreciation expense	−	(20)	(7,714)	(7,734)	(141)	(6,298)	(14,173)
Other movements: transfer of assets from Department of Regional Australia, Local Government, Arts and Sport	−	−	−	−	−	−	−
Other movements - transfer assets between classes	−	−	−	−	−	−	−
Disposals
Property, plant and equipment	−	−	−	−	−	(17)	(17)
Total as at 30 June 2015	1,400	490	60,219	62,109	41,582	17,854	121,545
Total as at 30 June 2015 represented by
Gross book value	1,400	510	68,010	69,920	41,723	35,120	146,763
Accumulated depreciation and impairment	−	(20)	(7,791)	(7,811)	(141)	(17,266)	(25,218)
Total as at 30 June 2015	1,400	490	60,219	62,109	41,582	17,854	121,545

¹ Artbank artwork assets and library assets that meet the definition of heritage and cultural items.

Note 8C: Reconciliation of the opening and closing balances of property, plant and equipment for 2013-2014

	Land	Buildings	Leasehold improvements	Total land and buildings	Heritage and cultural ¹	Other property, plant & equipment	Total
	$'000	$'000	$'000	$'000	$'000	$'000	$'000
As at 1 Jul 2013
Gross book value	1,400	888	71,492	73,780	1,663	44,721	120,164
Accumulated depreciation and impairment	−	−	−	−	−	(25,217)	(25,217)
Total as at 1 July 2013	1,400	888	71,492	73,780	1,663	19,504	94,947
Additions
By purchase	−	−	989	989	373	7,518	8,880
Revaluations and impairments recognised in other comprehensive income	−	53	100	153	3,387	−	3,540
Assets first recognised ²	−	−	−	−	460	−	460
Depreciation expense	−	(31)	(8,372)	(8,403)	(100)	(8,907)	(17,410)
Other movements: transfer of assets from Department of Regional Australia, Local Government, Arts and Sport	−	−	86	86	37,014	511	37,611
Other movements - transfer assets between classes	−	(400)	−	(400)	−	400	-
Disposals
Property, plant and equipment	−	−	(49)	(49)	(1,696)	(48)	(1,793)
Total as at 30 June 2014	1,400	510	64,246	66,156	41,101	18,978	126,235
Total as at 30 June 2014 represented by
Gross book value	1,400	510	64,323	66,233	41,101	52,633	159,967
Accumulated depreciation and impairment	−	−	(77)	(77)	−	(33,655)	(33,732)
Total as at 30 June 2014	1,400	510	64,246	66,156	41,101	18,978	126,235

¹ Artbank artwork assets and library assets that meet the definition of heritage and cultural items.

² The Department recognised library collections associated with the Ministry for the Arts $0.030m and the Australian Emergency Management Institute $0.430m for the first time. The items are recorded at fair value.

8D: Intangibles

		2015	2014
	Notes	$'000	$'000

Computer software
Internally developed - in progress		7,194	2,307
Internally developed - in use		38,120	37,024
Purchased		18,645	14,816
Accumulated amortisation		(43,165)	(33,401)
Total intangibles	8E	20,794	20,746

No indicators of impairment were found for intangibles.

No intangibles are expected to be sold or disposed of within the next 12 months.

Note 8E: Reconciliation of the opening and closing balances of intangibles for 2014-2015

	Computer software internally developed	Computer software purchased	Total
	$'000	$'000	$'000
As at 1 July 2014
Gross book value	39,331	14,816	54,147
Accumulated depreciation and impairment	(21,793)	(11,608)	(33,401)
Total as at 1 July 2014	17,538	3,208	20,746
Additions
By purchase	−	3,869	3,869
Internally developed	5,982	−	5,982
Total additions	5,982	3,869	9,851
Amortisation expense	(6,486)	(3,317)	(9,803)
Other movements: transfer of assets from Department of Regional Australia, Local Government, Arts and Sport	−	−	−
Total as at 30 June 2015	17,034	3,760	20,794

Total as at 30 June 2015 represented by
Gross book value	45,313	18,646	63,959
Accumulated depreciation and impairment	(28,279)	(14,886)	(43,165)
Total as at 30 June 2015	17,034	3,760	20,794

Note 8E: Reconciliation of the opening and closing balances of intangibles for 2013-2014

	Computer software internally developed	Computer software purchased	Total
	$'000	$'000	$'000
As at 1 July 2013
Gross book value	37,089	13,529	50,618
Accumulated depreciation and impairment	(15,350)	(9,436)	(24,786)
Total as at 1 July 2013	21,739	4,093	25,832
Additions
By purchase	−	1,147	1,147
Internally developed	2,242	−	2,242
Total additions	2,242	1,147	3,389
Amortisation expense	(6,443)	(2,172)	(8,615)
Other movements: transfer of assets from Department of Regional Australia, Local Government, Arts and Sport	−	140	140
Total as at 30 June 2014	17,538	3,208	20,746
Total as at 30 June 2014 represented by
Gross book value	39,331	14,816	54,147
Accumulated depreciation and impairment	(21,793)	(11,608)	(33,401)
Total as at 30 June 2014	17,538	3,208	20,746

8F: Other non-financial assets

		2015	2014
	Notes	$'000	$'000

Prepayments		5,652	5,810

Other non-financial assets expected to be recovered
No more than 12 months		4,581	5,034
More than 12 months		1,071	776
Total other non-financial assets		5,652	5,810