TOWN OF CAMBRIDGE ANNUAL REPORT · 2017-03-16 · 4 Town of Cambridge Annual Report 2015-2016....
Transcript of TOWN OF CAMBRIDGE ANNUAL REPORT · 2017-03-16 · 4 Town of Cambridge Annual Report 2015-2016....
Cambridge is a place where things happen. Stylish new and enhanced development will create hubs of community activity - places where families and friends get together, where business thrives and access is easy. Housing will become more diverse to accommodate people at different life stages and our suburban landscape will enhance its appeal through beautiful green and open spaces.
CONTENTSMayor’s Report � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 2
Elected Members � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 4
Ward Boundaries � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 6
Committees and working groups � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 7
Council Functional Structure � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 8
Executive Management & Operational Managers � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 9
Chief Executive Officer’s Report � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 10
Projects � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 12
Corporate and Strategic � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 15
Community Development � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 20
Development and Sustainability � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 28
Infrastructure � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 37
Statutory Compliance and Civic Responsibilities � � � � � � � � � � � � � � � � � � � � � 46
About our Town � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 48
Financial Report � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 50
Our Vision
Important Please Read
The aerial imagery was shot by Just Gravity and other imagery provided from various
photographers including Douglas Mark Black Photography and f22 Photography.
BUSINESS PHILOSOPHYWe are committed to making decisions in the interests of both current and future generations. Our approach will be based on the following ideals:
Partnerships/RelationshipsProductive relationships with industry, the State Government and other Local Governments to deliver improved cost effective services.
Community CentredMeeting the needs of our communities through strong community consultation, engagement and collaboration.
SustainabilityEmbracing the principles of sustainability in our decision making to balance the needs of both current and future generations through environmental protection, social advancement and economic prosperity.
Enhanced ServicesContinued improvement to our services through planning, adaptability and careful management of risks.
VALUESIn everything we do, we will seek to adhere to a set of values that guides our attitudes and behaviours.
Friendly and HelpfulWe value our customers and our work colleagues and will assist them in the best way we can.
TeamworkWe believe teamwork is essential for improving our services and achieving our goals.
CreativityWe can improve the way we do business by challenging the status.
IntegrityWe will act responsibly, place trust in each other and will be accountable for our actions.
1Our Vision 1
KERISHANNON
This past year has been an exciting and busy time for the Town of Cambridge. We have significantly increased and improved the number of places within the Town to enjoy leisure activities. We want to build a better Cambridge - one which encourages liveability, community involvement and leisure activity.
Major ProjectsThis year saw the delivery of our four major projects. Bold Park Aquatic Centre has been completely rebuilt with a new semi-enclosed 4 lane leisure pool and the expansion of the existing outdoor pool which will now be heated in summer using sustainable solar technology. In addition to swimming lessons and swim squads, the centre now offers leisure activities including a playgroup, yoga and tai chi classes.
The City of Perth Surf Lifesaving Club Building and Commercial Development at City Beach was opened in June 2016 by the Premier Mr Colin Barnett. The Town funded around $15.5 million of the cost which will be partially offset by commercial rents over time. The precinct has recently been awarded a commendation in the 2016 Australian Urban Design Awards. Three restaurants have commenced operation and are proving very popular. We are currently adding to the carpark opposite Fred Burton Reserve to cater for additional visitors during the busy summer months. The additions are due for completion in early December 2016.
The new restaurant and function centre at the Wembley Golf Course have commenced operation and have been well received by the community. The redevelopment cost $11 million, which was funded by a loan from the Endowment Lands Account. The completion of the $3.5 million Wembley Golf Course Miniature Golf and Playground, means the Wembley Golf Course is a place where people of all ages can play a round of mini golf or have a meal, while enjoying the magnificent natural surrounds of the Wembley Golf Course.
The new Wembley Sport Park Pavilion was opened in time for the commencement of the 2016/2017 season. This state of the art building will provide multi-use clubrooms for a number of local sporting associations including the Wembley Football Club, the Wembley Baseball Club and the Wembley Cricket Club. We are refurbishing the old club rooms and this should be completed by early December 2016.
Mayor’s Report
2 Town of Cambridge Annual Report 2015-2016
Other ProjectsWe are undertaking stage 2 of the Perry Lakes skate park in Floreat which will include the installation of a skate bowl and lights. It’s great to see the skate park used by people of all ages. We are currently working on the Lake Monger Activity Plan which will be progressed over the coming year in consultation with the community.
The issue of underground power has been a significant issue for the community for many years. We have committed significant reserves to this project to achieve consistency, improved reliability of supply and visual amenity in our residential streets. Our application for four State Underground Power Program projects at a projected cost of $36 million, will (if successful) see all local power lines within the Town underground. We should know by the end of December or early January 2017 if we have been successful.
We recognise Perry Lakes is important both in terms of biodiversity as well as being a barometer for groundwater levels. It is believed that replenishing Perry Lakes will have a positive effect of banking groundwater across the Town, thereby mitigating potential issues with the level of water in Lake Monger. With the drying climate, the pressure upon our groundwater cannot be underestimated. I am pleased funds have been allocated in the 2016/2017 budget to update reports regarding the most cost-effective way to revive Perry Lakes, including the use of treated waste water to raise the groundwater levels in Perry Lakes. We will also consider ways to recharge the aquifer using water from the Herdsman drain.
Planning and HousingThis year the Town’s housing diversity proposal (Town Planning Scheme Amendment 31) was rejected by Minister Faragher. This followed the Town’s request and the WAPC’s recommendation to the Minister to reject Scheme Amendment 31 as it was inconsistent with state planning policy and not supported by a Local Planning Strategy (LPS).
Scheme Amendment 31 had been worked on by the Town Planning Steering Review Committee since 2013. It relied upon an Additional Use mechanism to control the design of future development, and claimed to deliver smaller dwellings without the battle axing of blocks. The stated objective of Scheme Amendment 31 was said to be the provision of housing diversity. However, Scheme Amendment 31 had the practical effect of significantly increasing density, and would not have delivered diverse or affordable housing. The Town was already well ahead of its density targets for Directions 2031 and Scheme Amendment 31 would have irreparably changed the character of the garden suburbs of City Beach and Floreat. The community recognised that outcome and actively campaigned for and supported the refusal of Scheme Amendment 31.
We have given Minister Faragher an undertaking that we will undertake the preparation of a Local Planning Strategy. In 2010 the Town had initiated a draft Local Planning Strategy which failed to be progressed. We have now engaged external planning consultants to assist the Town with the LPS and have already commenced our first round of community engagement. The LPS should be completed and ready for submission to the WAPC by mid 2018.
Importantly, we have adopted a new approach to strategic planning within the Town, which is consistent with state planning policy and will provide more certainty for future development within the Town. The incorporation of the development controls into the Town Planning Scheme following the LPS will provide a higher degree of certainty on planning outcomes for the benefit of all residents.
We have introduced a new web portal for community engagement. We have also introduced a policy for Elected Members to disclose contact with Developers and all of our statutory registers are now shown on the Town’s website for improved transparency. While we still have more work to do improving governance and processes within the Town, I am confident that we will provide a better, more liveable Cambridge going forward.
Keri Shannon
Mayor
3Mayors Report
Elected Members
MayorKeri Shannon 3 Warreen Place CITY BEACH 6015
Tel 9347 6014Fax 9347 6066Mob 0438 375 377 email [email protected] Term ends October 2019
Deputy MayorCr Pauline O’Connor JP1 Talgarth Way CITY BEACH 6015
Tel 9285 1126Mob 0412 085 850email [email protected] Term ends October 2017
Cr Rod Bradley12 Lowanna Way CITY BEACH 6015
Tel 9385 7000 Fax 9389 8326Mob 0412 953 100email [email protected] Term ends October 2019
4 Town of Cambridge Annual Report 2015-2016
Council and Committee meetingsOrdinary meetings of Council are held on the fourth Tuesday of each month, starting at 6pm. All council and committee meetings (unless decided otherwise by the Council) are open to the public. Special meetings of Council are held as required.
The Council was supported by three standing committees – the Community and Resources Committee and the Development Committee which meet each month and make recommendations to Council, and the Audit Committee, which meets as required, generally three to four times a year.
Council and committee minutes and agendas are available at www.cambridge.wa.gov.au
Cr Andres Timmermanis109 Brookdale Street CITY BEACH 6015
Tel 9287 1691Mob 0476 375 956email [email protected] Term ends October 2019
Cr Jane Powell85 Blencowe Street WEST LEEDERVILLE 6007
Mob 0412 085 850email [email protected] Term ends October 2019
Cr Louis Carr51B Simper Street WEMBLEY 6014
Tel/Fax 9387 8333Mob 0417 733 113email [email protected] Term ends October 2019
Cr Corinne MacRae67 Blencowe Street WEST LEEDERVILLE 6007
Tel 9381 8327email [email protected] Term ends October 2017
Cr Tracey King12 Gregory Street WEMBLEY 6014
Mob 0406 603 942email [email protected] Term ends October 2017
Cr Sonia Grinceri493B Cambridge Street FLOREAT 6014
Tel 9387 6471Mob 0423 306 000email [email protected] Term ends October 2017
5Elected Members
Salvado Road
Grantham Street
Underwood Avenue
Powis StreetJon Sanders Drive
Bo
ld P
ark
Dri
ve
The Boulevard
CromartyRoad
Empire Avenue
Bro
mp
ton
Ro
ad
Wes
t C
oas
t H
igh
way
Oceanic Drive
FLOREATBEACH
WEMBLEYWARDCITY
BEACH
Har
bo
rne
Stre
et
Herdman Par
ade
Mitchell Freeway
Cambridge Street
Railway Parade
Lake Monger Drive
Loftus S
tree
t
Step
hens
on A
venu
e
COASTWARD
LAKEMONGER
PERRYLAKES
Town Boundary
Ward Boundary
Town of CambridgeAdministration & Civic Centre1 Bold Park Drive, Floreat
Wembley Golf CourseThe Boulevard, Floreat
Surf Lifesaving ClubsQuarry AmphitheatreOceanic Drive, City Beach
Town of Cambridge DepotLemnos Street, Shenton Park
Bold Park Aquatic CentreThe Boulevard, Floreat
Leederville Town Hall84 Cambridge StreetWest Leederville
Number 86 Youth Centre86 Cambridge StreetWest Leederville
Cambridge Library andThe Boulevard Centre99 The Boulevard, Floreat
Matthews Netball Centre199 Salvado Road, Wembley
Wembley Community Centre40 Alexander Street, Wembley
6 Town of Cambridge Annual Report 2015-2016
Ward Boundaries
TOWN REPRESENTATIVES AND DELEGATESMindarie Regional Council Cr MacRae
Tamala Park Regional Council Cr Carr
Local Government Association Central Metropolitan Zone Crs O'Connor and Timmermanis
Cambridge Coastcare Inc. Cr O'Connor
Perry Lakes Reserve Working Group All Elected Members (on interest basis)
Lake Monger Working Group All Elected Members (on interest basis)
Public Art Committee Mayor Shannon, Crs Bradley, Grinceri, King and Powell
Town Planning Scheme Review Steering CommitteeMayor Shannon, Crs Bradley, MacRae, O'Connor, Powell and Timmermanis
Western Suburbs Regional Organisation of Councils (WESROC) Observer status: Mayor and CEO
CEO Performance Review CommitteeMayor Shannon, Crs Bradley, Grinceri, O'Connor and Powell
Major Projects and Underground Power Steering CommitteeMayor Shannon, Crs Bradley, Carr, Grinceri, Powell and Timmermanis
RATEPAYER AND RESIDENT ASSOCIATIONWest Leederville Residents Association Inc.
Anne Lake (President)
PO Box 1439, West Leederville, WA 6901
Website: www�wlra�org�au
Wembley West Leederville Residents Association Inc.
Mr Robert Dickinson
102 Pangbourne Street, Wembley, WA 6014
Telephone: 9387 6750
Floreat Ratepayers/Residents Association Inc.
This association is currently inactive�
Coast Ward Ratepayers Association Inc.
Mr Rob Walker (President)
14 Palani Rd, City Beach, WA 6015
Email: rob@perthpropertypartners�com�au
Cambridge Residents Association Inc.
Mrs Elizabeth Eaton (President)
17 Lifford Road, Floreat WA 6014
Email: cambridge�ra�wa@gmail�com
7Ward Boundaries I Committees and Working Groups
Committees and working groups
8 Town of Cambridge Annual Report 2015-16
Council Functional Structure
Finance
Contracts/Purchasing
Information Technology
Property (Land and Leasing)
Customer Service
Document Management
Governance and Contracts
Corporate Communications
Human Resources
Engineering and Design
Waste Management
Building Management
Works
Parks
Depot Operations
Fleet Management
Asset Management
Wembley Sports Park
City Beach Surf Club Building and Commercial Development
Wembley Golf Course Hospitality and Miniature Golf
Parkside Walk, Jolimont Development
St John’s Wood Mt Claremont Development
Bold Park Aquatic Development
State Underground Power Program
Other Projects
Community Development
Disability Services
Senior Services
Youth Services
Community Safety
Facilities Management
Library Services
Bold Park Aquatic
Wembley Golf Course
Planning Services
Building Services
Environmental Health
Sustainability
Development Liaison / Compliance
Ranger Services
Beach Inspections
Corporate and Strategic
Community Development
Development and Sustainability
Infrastructure Projects
CHIEF EXECUTIVE OFFICER
DIRECTORS
MAYOR AND COUNCILLORS (9) Committee Meetings held monthly
CHIEF EXECUTIVE OFFICER Jason Buckley
DIRECTOR CORPORATEAND STRATEGICJason Lyon
Governance, Human Resources, Finance, Contracts / Purchasing,Information Technology, Communications, Property (Land and Leasing), Customer Services,Document Management, Strategic and Corporate Business Planning.
Manager FinanceRoy Ruitenga
Manager Information Technology and CommunicationsSteve Platts
Manager Governance and ContractsStuart Hobley
Manager Human ResourcesAnn Blakeney-Britter
DIRECTOR COMMUNITY DEVELOPMENTCam Robbins
Community Development, Disability Services, Senior Services, Youth Services, Community Safety, Facilities Management, Library Services, Bold Park Aquatic, Wembley Golf Course.
Manager Community DevelopmentCarole Lambert
Manager Library ServicesNerida Clifford
General Manager Wembley Golf CourseMatthew Day
DIRECTOR DEVELOPMENT AND SUSTAINABILITY Ian Bignell
Planning Services, Building Services, Environmental Health Services, Sustainability Development, Compliance, Ranger Services, Parking Services, Beach Lifeguard services.
Manager DevelopmentStev Rodic
Manager ComplianceJohn Giorgi
DIRECTOR INFRASTRUCTUREChris Colyer
Engineering, Design, Waste Management, Building Management, Works, Parks, Depot Operations, Fleet Management, Asset Management.
Manager Infrastructure WorksJon Bell
Manager Infrastructure AssetsPeter Maloney
Manager Infrastructure ParksRoss Farlekas (retired Feb 2016)
DIRECTOR PROJECTSBrett Jackson
Major Projects
9Council Functional Structure I Executive Management and Operational Managers
Executive Management and Operational Managers
JASONBUCKLEYCHIEF EXECUTIVE OFFICER
The Town of Cambridge has been extremely active over the last year and we have seen the delivery of two major projects and two other projects well under construction for completion before the end of 2016. These developments represent a significant investment in new facilities for the community that have been many years in the planning.
The new Bold Park Aquatic centre opened its doors to the public in November 2015. The new development cost $12.5 million and has received many positive comments from the public. The building works for the City Beach development was completed in January 2016 allowing tenants to undertake their fit-outs. Odyssea commenced trading in late January 2016 with Rise Pizzeria and Hamptons commencing trade shortly after the end of the financial year. The City of Perth Surf Life Saving Club will have its first full season in the new premises for the summer of 2016/2017. The completion of the new facilities at City Beach was marked by an official opening by Mayor Keri Shannon and Premier Colin Barnett on 17 June 2016.
Architectural design awards have been received for both projects.
Significant progress was made on other major projects as follows:
• Wembley Golf Course Hospitality Development ($11 million - under construction)
• Wembley Golf Course miniature golf and playground ($3.5 million - under construction)
• Wembley Sports Park Pavilion ($3 million - under construction)
• Nursery site land development - Parkside Walk, Jolimont - subdivision approved for up to 350 dwellings.
• Area G land development - St John’s Wood Mt Claremont - subdivision approved for 49 lots, construction works completed and sales program commenced.
• Perry Lakes Stadium Redevelopment, Floreat - three large apartment sites with up to 292 dwellings were transferred by the State Government to the Town in July 2015 valued at $27 million excluding GST;. It is expected the Town will receive the balance of funds owed by the State Government of $23 million before the end of 2016 as provided in the Perry Lakes Redevelopment Act 2005. Two of the sites transferred to the Town have been sold for $19.5 million excluding GST with settlement due in January 2017
Chief Executive Officer’s Report
10 Town of Cambridge Annual Report 2015-2016
Revenue Expenses
2010/2011$M
2011/2012$M
2012/2013$M
2013/2014$M
2014/2015$M
2015/2016$M
Profit/Loss
Revenue $33.6 $35.9 $37.2 $39.9 $41.8 $43.5
Expenses -$33.6 -$35.2 -$37.2 -$39.4 -$41.1 -$44.1
Operating Result $0.0 $0.7 $0.0 $0.5 $0.7 -$0.6
Capital Grants & Contributions $1.3 $7.0 $11.2 $2.3 $3.4 $30.5
Asset Disposals & Adjustments -$0.4 $1.0 $8.4 $18.0 $8.0 $4.7
Revaluation of Assets $71.0 $22.7 -$3.8
Net Result $0.9 $8.7 $19.6 $91.8 $34.8 $30.8
Balance Sheet
Assets $174.2 $182.1 $203.0 $294.9 $330.3 $361.8
Liabilities -$21.4 -$20.6 -$21.9 -$22.0 -$22.6 -$23.3
Net Assets $152.8 $161.5 $181.1 $272.9 $307.7 $338.5
% Increase 0.6% 5.7% 12.1% 50.7% 12.8% 10.0%
$ M
illio
ns
2014/2015 2015/20162013/20142012/20132011/20122010/2011
We have again been successful with our waste management efforts under the Maximum Recovery program with 48% of kerbside waste diverted from landfill. Waste in the recycling bin accounted for 30% and the green bin 18%. Of the waste sent to Mindarie Regional Council a proportion of all members waste is processed and composted that increases the Town’s diversion efforts.
The Town has continued to deliver outstanding services to the community in accordance with the Community Strategic Plan details of which are outlined in this report.
The Town is performing strongly from an operating perspective and with the materialisation of wealth assets, in the short to medium term, the Town will be in an excellent financial position in the future. The following charts demonstrate the financial trend over the last few years. It is noted that the operating result was slightly negative at $600,000 and this was due to unbudgeted expenditure of $600,000 for the design of underground power funded from reserves and an extra $800,000 in depreciation expense. The Town currently has $340 million in net assets and this will increase soon as the proceeds from major land developments are received over the next few years.
Elections were held in October 2015 which resulted in the election of three new elected members being Mayor Keri Shannon, Cr Jane Powell and Cr Andres Timmermanis. Cr Rod Bradley and Cr Louis Carr were re-elected to their positions on Council. I acknowledge the contributions made by former elected members Mayor Simon Withers (8 years), Deputy Mayor, Cr Alan Langer (16 years) and Cr Colin Walker (4 years).
I would like to thank the staff for their positive and enthusiastic approach over the last twelve months. I also express my appreciation for their continued commitment and focus in delivering services to the community. I also wish to thank elected members in providing direction and their guidance and support of the administration in achieving the council’s objectives over the last twelve months.
Jason Buckley
Chief Executive Officer
11Chief Executive Officer’s Report
$45
$40
$35
$30
$25
$20
DIRECTORPROJECTS
The Projects Directorate was established to provide the Town with capability to efficiently and effectively plan and deliver strategic initiatives beyond the Town's day to day operational programs.
Wembley Sports Park The Town is well into construction of the new Wembley Sports Park Pavilion which will be the home of Wembley Athletic Club. This project entails construction of a new hall, home change rooms and toilets, fitness room and kitchen, which will join to the existing away change rooms, toilets and kiosk. This will effectively triple the size of the building for Wembley Athletic Club as well as significantly improve spectator seating facilities. The first stage has reached completion and it is anticipated that the works will be completed by late December. This $3 million project is predominantly funded by the Town of Cambridge with support from Wembley Athletic Club and the Department of Sport and Recreation.
Bold Park Aquatic The redeveloped Bold Park Aquatic was officially opened to the public in November 2015.
This $12.5 million facility provides a 10-lane 50 metre outdoor heated pool, an enclosed heated leisure pool/learn to swim pool, as well as new change rooms, car parking, playground, café and swim shop. The project received a Commendation at the 2016 WA Public Architecture Awards in recognition of the design of the buildings.
Underground PowerThe Town has submitted proposals under Round 6 of the State Underground Power Program to have about 3,300 properties within the Town converted from overhead supply to underground power.
The proposals have passed the first stage of assessment and the State is currently surveying property owners to gauge their willingness to support these proposals. If successful with its proposals, the Town will be able to set in place a project plan that sees all remaining properties in the Town of Cambridge finally converted to underground power, bringing to a close many years of progressive works and failed applications to have the project finished.
Proposals under Round 6 of the State Underground Power Program are ranked higher if (increasing the chances of being successful) the proposed contribution from local governments and/or property owners is greater than the 50% threshold set by the government.
The Town has submitted four proposals each proposing that properly owners contribute 50% of the project cost; the Town contributes 40% of the project cost. If all four proposals are successful, the total Town funding for underground power is in the order of $17 million.
Projects
12 Town of Cambridge Annual Report 2015-2016
BRETTJACKSON
Wembley Golf Course Hospitality ProjectThe much anticipated construction of the new hospitality facilities at Wembley Golf Course is nearing completion. The Town has developed a new bistro/bar area, function rooms, kiosk, change rooms and toilet facilities as well as improved car parking and landscaping within the $11 million development.
By the end of August 2016, the facilities will be open to the public. Works are also underway to develop new short game practice facilities, a miniature golf course and children's playground on the northern side of the main buildings. The extended cost of these facilities is $3.5 million. It is anticipated that these facilities will be open to the public by the end of December 2016.
Parkside Walk JolimontSubdivision works are now underway with a view to complete the works within a 12 to 18 month timeframe. Apartment sites and house lots will progressively come to the market for purchase from late 2016 onwards.
St John's Wood, Mount ClaremontThe subdivision works are complete, and at the time of this report, 75% of the housing lots have been purchased with new residents planning the construction of their new homes.
13Projects
Surf Club Building and Commercial Development at City Beach The Surf Club Building and Commercial Development at City Beach was officially opened by the Mayor Keri Shannon and the Hon Colin Barnett MLA Premier of Western Australia, on 17 June 2016� Odyssea, the first of the restaurants in the precinct, was opened early in 2016 and has enjoyed significant patronage and positive feedback� The second restaurant, Rise Pizzeria, has just opened, with the final restaurant, Hamptons, to open very soon�
The surf club has taken occupancy of its new $18 million facilities and by all reports, is enjoying the benefits of this new, bespoke building�
The Town will be embarking on car parking expansion during the coming months to assist in peak periods of parking demand�
It was noted that the project received an award for Public Architecture at the 2016 WA Architecture Awards which was in recognition of the intent of the Town to develop attractive and functional facilities and our design team who took this vision into reality�
14 Town of Cambridge Annual Report 2015-2016
Greater emphasis has been placed on forward planning and dialogue with the community, in response to a range of opportunities to improve local neighbourhoods.
In this context, the Town undertook a desktop review of its Strategic Community Plan and Corporate Business Plan, ahead of a comprehensive review which will be undertaken during 2016/2017, this will involve a range of conversations with our community on important matters. To form the basis for those conversations, the Town developed a community engagement framework to guide its engagement activities. Work has also commenced on the review of the Financial Plan, Asset Management Plan, Workforce Plan and ICT Strategy, and will conclude during 2016/2017.
The Town received confirmation from the State Government that it would finalise the settlement of the Perry Lakes Estate development through a transfer of land and payment of cash. In July 2015 three group dwelling sites were transferred to the Town valued at $27.4 million. The balance of the $50 million due to the Town, i.e. 22.6 million will be paid in cash in 2016/2017. This brings more certainty to the Town's Financial Plan, which has modelled the payment from the State and the application (in part) to Underground Power and other strategic projects.
Two of the three Perry Lakes group dwelling sites were put to the market during the year and a contract was entered into for the sale of the two sites at $21.56 million.
Corporate and Strategic
The directorate continues to support the Town's program of Major Projects. This is an exciting time for the organisation given the magnitude of the projects, and the significance of the project deliverables, from both a community and from a commercial perspective.
These projects have required all facets of corporate services to increase its service support, from tender and contract management to commercial negotiations, business case development and financial control. Four commercial properties came on line during the year, including three café/restaurants at City Beach and a new hospitality venue at the Wembley Golf Course. With an increase in the commercial properties the Town now manages, improvements were made to the property management system to ensure its leased properties are managed effectively.
The Community Facilities Leasing Policy continues to be a firm foundation to maintain our community buildings in a satisfactory condition. During the year, $450,000 was spent on replacing the roof at the Floreat Surf Club, in addition to a number of other community building maintenance and upgrade outlays.
As part of a continual improvement program, the Town embarked on a number of risk management initiatives, including a review of its risk management framework, development of business continuity plans and progression of a number of infrastructure risk management programs, including the asbestos removal program (removing latent asbestos materials from older buildings).
Governance is an important facet of any organisation and the Town’s governance function is supported by the internal audit program. A number of system and process reviews were undertaken during the year and improvements made to manage systems and process risks and improve business efficiencies.
JASONLYONDIRECTOR CORPORATE AND STRATEGIC
15Corporate and Strategic
FinanceIn July 2015, the council adopted an operating budget of $43 million and a capital program of $39 million. At year end, the overall surplus, after allowing for works in progress was $533,000, which was transferred to the Town's Asset Management reserve.
Capital works of $31 million were undertaken, including $5.6 million on the Bold Park Aquatic Centre upgrade, $5.9 million on the City Beach Surf Clubrooms and Commercial project, $9.9 million on the Wembley Golf Course Hospitality and miniature golf project and $1.6 million on the Wembley Sports Park Pavilion plus ongoing renewal of the road, drainage and footpath infrastructure networks.
During the year, a number of major projects were progressed. Over the past few years, the Town has invested $60 million on its major projects and has provisioned a further $6 million in the 2016/2017 financial year to complete the projects.
Major Projects within the City Beach area are funded in part by the Endowment Lands Account, (the "ELA"). Opening with a balance of $17 million, a further $3.1 million was deposited into the ELA from the proceeds of land sales. Funds were then transferred for the major projects and for other smaller capital projects capital projects, totalling $20.1 million. At year end, the ELA had a balance of $0.8 million, however at least $10.5 million in land proceeds are expected to be transferred to the ELA from the sale of lots within the St Johns Wood Estate towards the end of the 2016/2017 financial year. Internal loans will also replenish the ELA over time.
During the year the Town revalued its plant and equipment assets in accordance with the revaluation timetable as stipulated in the local government accounting regulations. This had a minimal impact on the net position.
Overall, the Town's property and infrastructure assets increased during the year by $19 million. The Town expended $31 million on assets and booked depreciation, write-offs and revaluation decrements of $12 million. The Town's equity position increased by $31 million through a combination of an increase in the retained surplus and a $27.4 million contribution from State Government.
Finance Year in DetailStatement of Comprehensive Income
Operating ResultThe Statement of Comprehensive Income shows the operating result before non-operating grants, subsidies and contributions and disposal of assets. It indicates an operating deficit of $620,000 against the original operating budget deficit of $185,000, a $435,000 difference. This is largely due to the following factors:
Expenditure• The expensing of Underground Power design costs of
$593,000, approved by Council after the budget adoption. This was funded by land sale proceeds.
• An increase in depreciation expense of $802,000 due to a revaluation of infrastructure assets on 30 June 2015.
Revenue• A non-refundable deposit $1 million received during the
year with respect to the sale of lot 232, 1 Meagher Drive and lot 233, 29 Stadium Drive, Perry Lakes Estate with the balance settlement due in January 2017.
Net ResultThe Statement of Comprehensive Income shows an overall net operating result of $34.4 million compared to an expected result of $7.1 million. The variance of $27.3 million, mainly attributable to the Town receiving three apartment sites, valued at $27.4 million within the Perry Lakes Estate from the State Government as part payment of the $50 million it's owed with the completion of the Perry Lakes Redevelopment project. The remaining balance of $22.6 million will be paid in cash during the current financial year.
Total Comprehensive IncomeThe Statement of Comprehensive Income shows a total comprehensive income of $30.7 million after a change in the revaluation surplus of $3.6 million relating predominantly to the disposal of Dampier Avenue lots ($2.4 million), previously revalued in January 2014 and a change of $1 million in the valuation of the Tamala Park land developed during the year and reclassified as land held for resale.
Rate Setting StatementThe overall rate-setting surplus, which takes into account operating, capital and financing transactions, after allowing for carry forwards, was $533,000 compared to an adopted balanced budget (i.e. zero) position. The surplus resulted from considerable cost savings within the road surfacing capital works programme, with lower asphalt prices charged by contractors as oil prices fell during the year. The surplus has been transferred to the asset management reserve at year end.
The rate setting statement closing balance of $3.43 million represents carried forward operating and capital programmes either in progress or yet to commence at the end of the financial year.
16 Town of Cambridge Annual Report 2015-2016
Statement of Financial PositionOverall, net assets increased by $31 million as a result of the following movements.
Current AssetsCurrent assets increased from $35 million to $47.3 million during the year. The major movements being:
• an increase in inventories of $27.6 million predominantly due to the classification of three apartment sites in the Perry Lakes Estate (Lots 231, 232, and 233) valued at $27.3 million, received from State Government, as land held for resale. Two lots are due to settle in January 2017.
• a decrease in cash and investments of $15 million reflecting drawdowns for major projects Bold Park Aquatic Centre Upgrade, City of Perth Surf Clubrooms and Commercial design project and the Wembley Golf Course Hospitality project.
Non-Current AssetsProperty, Plant and Equipment and Infrastructure increased during the year by $19 million, reflecting the Town's continued commitment to maintaining and enhancing its infrastructure. The Town expended $31 million on assets against depreciation, write-offs and revaluation changes of $12 million.
Investments in Mindarie Regional Council and Tamala Park Regional Council increased nominally by $357,000, this is after the Tamala Park Regional Council paid the Town a return in equity of $1.25 million.
Current LiabilitiesCurrent liabilities increased by $1.4 million. This was predominantly due to current borrowings increasing by $1.2 million. A new short term loan facility of $3.5 million was established in late June 2016 to fund the Wembley
Golf Course Miniature Golf construction project. The loan is for one year and will be repaid in June 2017. The first draw down of $1.125 million was made at the end of June.
Non-Current LiabilitiesThe Town’s non-current liabilities decreased by $644,000 which was mainly due to loan principal repayments.
EquityTotal equity increased by $31 million as a result of an decrement of $3.7 million to the asset revaluation reserve for assets, an accumulated surplus of $50 million and a corresponding decrease in cash reserves of $15.3 million applied to the Town's major projects.
Customer Services The Town's Customer Service team continues to provide the community with quality personal service focusing on friendly and timely delivery standards.
A new phone system was installed in July 2015 assisting Customer Services direct call management to exceed their targets for first contact resolution of calls.
The Customer Services team at the Administration Centre dealt with 42,160 calls during the first 11 months of the new phone system with over 92% answered at the first point of service.
During the peak months October and November (due to dog and cat registrations, planning/building enquiries and council elections) service levels were still met despite a 25% increase in average monthly calls.
The new phone system will gradually be installed across other key centres at the Town with the Library/Boulevard Centre and Bold Park Aquatic already utilising the new system.
17Corporate and Strategic
Buildings Office Furniture & Equipment External Plant & Equipment Infrastructure
1996
- 1
997
1997
- 1
998
1998
- 1
999
1999
- 2
000
2000
- 2
001
2001
- 2
002
2002
- 2
003
2003
- 2
004
2004
- 2
005
2005
- 2
006
2006
- 2
007
2007
- 2
008
2008
- 2
009
2009
- 2
010
2010
- 2
011
2011
- 2
012
2012
- 2
013
2013
- 2
014
2014
- 2
015
2015
- 2
016
Trend of Asset Economic Life
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0% o
f Eco
nom
ic L
ife R
emai
ning
Information Technology and Business SystemsThe Information Technology Help Desk continues to provide guidance and support to users of the Town's hardware, software, communications and business systems. Requests totalling 2,238 were received with 2,233 completed during the financial year.
Key improvements to the Town's technical environment included replacement of the main server and storage hardware infrastructure and replacement of the phone system at the Library/Boulevard Centre and Bold Park Aquatic.
New hardware, point of sale and venue management software was implemented as part of the redevelopment of Bold Park Aquatic allowing greater flexibility and control of customer access and management.
Corporate CommunicationsDuring 2015/2016 Corporate Communications, via a mix of channels, kept the Cambridge community informed about the many projects and activities happening across the Town.
The main platform used to share information continued to be the full page advertorial, Cambridge News, published fortnightly in the local Cambridge Post newspaper. Including 'special editions' there were 27 Cambridge News bulletins published in 2015/2016.
To coincide with the printed publication, an e-Newsletter edition of Cambridge News was sent to 1,776 subscribers, an increase of 161 subscribers from the previous reporting period.
Project and interest specific eNewsletters were also used throughout the year to keep subscribers informed about the Bold Park Aquatic Redevelopment, performances at The Quarry Amphitheatre and Sporting Club news.
In 2015/2016 social media platform "Twitter" was used almost daily to relay current news and events. Tweets were sent relaying information such as upcoming events, employment opportunities, major project updates and council meeting dates. The Town's Twitter following grew steadily over the reporting period. The number of followers at the end of June 2016 was 1,676, an increase of 379 from the previous 12 month reporting period.
The Town's website (cambridge.wa.gov.au) continued to play an important role in providing accurate and up-to-date information to the Cambridge community on the Town's many services.
Human ResourcesHuman Resources are responsible for the development and support of the human resources function within the Town, which includes providing advice and assistance relating to the management of employee relations, recruitment, induction, organisational and professional development, salary and wages, workforce planning, collective bargaining negotiations, occupational health and safety, staff welfare, performance management, organisation development, safety, wellness, employee motivation and training.
The Town's Human Resources policies and practices are continually reviewed and updated to reflect changes in industrial agreements, Council policies, award requirements and entitlements are facilitated and implemented in a timely and professional manner with a continuous understanding of relevant industrial relations practices.
As at 30 June 2016, the Town employed 197 permanent full-time equivalent employees comprising 151 full-time and 75 permanent part-time employees. The Town retained the minimum workers compensation insurance contribution of 2.2% based on a strong health and safety culture.
1000 2000 3000 4000 50000
18 Town of Cambridge Annual Report 2015-2016
Changes in Equity Customer Service Phone Contacts 2015-2016
1997
-199
819
98-1
999
2002
-200
3
2006
-200
7
2010
-201
1
2000
-200
1
2004
-200
5
2008
-200
9
2012
-201
3
2015
-201
6
1999
-200
0
2003
-200
4
2007
-200
8
2011
-201
2
2001
-200
2
2005
-200
6
2009
-201
0
2013
-201
420
14-2
015
3403203002802602402202001801601401201008060402000$
Mill
ions
Aug 15
Oct 15
Dec 15
Feb 16
Jun 16
Apr 16
Accumulated Surplus Cash Reserves & Endowment Lands Account Answered by Customer ServiceMonth Total
GovernanceCouncil meeting attendance
CouncilMeetings attended
July 2015 to June 2016Apologies Leave of absence
Mayor K Shannon(sitting member as of Oct 2015)
7
Mayor S Withers (retired Oct 2015) 4
Deputy Mayor Cr P O'Connor JP 10 1
Deputy Mayor Cr A Langer (retired Oct 2015) 4
Cr R Bradley 11
Cr S Grinceri 11
Cr T King 10 1
Cr C MacRae 11
Cr L Carr 10 1
Cr J Powell (sitting member as of Oct 2015) 7
Cr A Timmermanis (sitting member as of Oct 2015)
7
Cr C Walker (retired Oct 2015) 4
Decisions of Council
2010/2011 2012/2013 2013/2014 2014/2015 2015/2016
Items considered 359 379 382 392 479
Average meeting duration 91 minutes 124 minutes 138 minutes 129 Minutes 210 Minutes
Welcoming new citizensFour public citizenship ceremonies for Town of Cambridge residents were held in 2015/2016 in July and October 2015, on Australia Day 2016 and in April 2016. A total of 201 applicants received citizenships during the reporting period.
Date Number of conferees
8 July 2015 45
7 October 2015 44
26 January 2016 62
13 April 2016 50
19Corporate and Strategic
CAMROBBINSDIRECTORCOMMUNITY DEVELOPMENT
FESTIVALS AND MAJOR EVENTSDuring 2015/16, the Town provided a variety of community events and festivals to enable the local Cambridge community to come together to celebrate and enjoy family activities and entertainment.
Part funded by Lotterywest, the Cambridge 'Summer of Fun' events program consisted of eight community events from December 2015 to April 2016:
• Christmas at Lake Monger;
• Australia Day Celebrations at Perry Lakes Reserve;
• Sunset Music in the Park at Rutter Park Wembley;
• Celebrate City Beach;
• Cambridge Street Festival;
• Exposure Youth Festival at Perry Lakes;
• ANZAC Day Parade and Remembrance Ceremony; and
• TruckStop.
Community Development
In April 2016, the Town partnered with Sunset Events to trial TruckStop at Perry Lakes Reserve. The roving cultural street food eatery concept was the first event of its kind to be held within the Town.
The month trial held over four Sundays transformed Perry Lakes Reserve into a pop-up retro night market where people could enjoy a variety of food, craft beer and cider, locally produced wine, live acoustic music, visual arts and children’s activities.
TruckStop attracted over 2,500 attendees on the opening weekend and an average attendance of 2000 people per event for the remaining weekends. The trial was highly successful and the event is now set to be included in the Town's 2016/2017 events calendar.
20 Town of Cambridge Annual Report 2015-2016
Other major events held in the Town throughout the year included:
• Rose Pruning Demonstration (July 2015);
• City to Surf Fun Run (August 2015);
• Parkinson's Walk in the Park (September 2015);
• Volunteers Function (October 2015);
• Cystic Fibrosis Great Stride (October 2015);
• Alzheimer's Memory Walk and Jog (November 2015);
• Local Primary Schools Education Week Debate (November 2015);
• Sids 'n' Kids Sunshine Beach Event (February 2016);
• Big Al's Poker Run (February 2016);
• Organ Donors Donate Life Ceremony (March 2016); and
• Motor Neurone Walk to d'Feet MND (April 2016).
FINANCIAL ASSISTANCEThrough its Community Grants program, the Town provided a total of $45,670 in the form of grants and donations to local community organisations, service groups, schools and sporting clubs. The Community Organisations Grants program provided a total of $20,007 to local community clubs and groups to purchase new equipment. These included:
• $1,818 to Reabold Tennis Club for the purchase of new equipment;
• $2,000 to West Coast Amateur Football Club for the purchase of sporting club memorabilia and equipment;
• $2,000 to City of Perth Surf Life Saving Club for the purchase of audio visual equipment;
• $2,000 to Wembley Lacrosse Club for the purchase of safety nets;
• $1,452 to Floreat Park Tennis Club for the purchase of bar tables and stools;
• $1,813 to Subiaco Floreat Cricket Club for the purchase of a new fridge;
• $990 to Wembley Playgroup for the purchase of new toys/craft supplies and maintenance of outdoor play environment;
• $1,605 to City Beach Netball Club for the purchase of training equipment;
• $1,657 to Wembley Netball Club for the purchase of fitness equipment;
• $1,000 to City Beach Tee Ball Club for training equipment;
• $1,672 to Bold Park Masters Swimming Club for the purchase of a Go-Pro camera and notebook computer; and
• $2,000 to Cambridge Croquet Club for the purchase of lifesaving equipment.
The Community Events Grant program funded three local community organisations to assist in running events open to residents of the Town totalling $3,818. These included:
• $1,000 to Cambridge Bowling Club to host an Open Day event;
• $818 to Friends of Bold Park Bushland to host an Open Day event;
• $1,000 to All Saints Floreat Uniting Church to host the Floreat Fair event; and
• $1,000 to St Vincent De Paul Society (WA) Inc. to host the 2015 Christmas function.
21Community Development
A further $8,724 was approved for programs and initiatives at schools either located within the Town or servicing children who live in the Town. These included:
• $1,000 to Bold Park Community School for a large scale mural;
• $3,760 to City Beach Primary School for a 60th anniversary celebration;
• $1,680 to Kapinara Primary School for a 50th anniversary celebration;
• $1,054 to Newman College for a nature play garden; and
• $1,229 to Lake Monger Primary School for a bush tucker and nature garden.
The Financial Assistance for Individual Achievement program contributed a total of $11,400 to local individuals who were selected to represent the state or nation for excellence in sport, leisure, cultural or educational activities. These funds are provided to offset travel expenses.
The Town also funded $1,720 under the Donations to Community Groups funding program, which assists with the purchase of trophies and catering. These included:
• $500 to Reabold Tennis Club to host the Reabold Junior Hardcourt Tournament;
• $500 to Reabold Tennis Club to host the Cambridge Cup;
• $220 to Cambridge Bowling and Recreation Club to host a Gala Day; and
• $500 to Cambridge Croquet Club to host the 2016 Australian Croquet Association National Championships.
ART AND CULTUREArt and cultural activities funded during the year included:
• $2,000 granted to the Wembley Theatre Company for their annual pantomime at the Wembley Community Centre;
• The annual Local Primary Schools Art Exhibition. The winning art acquisition piece 'The Curious Giants' was entered by Ben De Lestang from Year 6 at Holy Spirit Primary School;
• The Public Artwork Display at The Boulevard Centre. Various local artists display their artwork in The Boulevard Centre foyer for two months. Works are selected to represent a wide variety of styles and media and are available for viewing and/or purchase; and
• $11,000 for the Artist in Residence Program which was provided to two local schools. West Leederville Primary School participated in "Make-up SFX and Screen Acting Fundamentals Workshops" and Bold Park Community School participated in "Acting, Presenting and Filmmaking Skills and Screen Acting Fundamentals workshops". The program was facilitated by Filmbites Youth Film School.
SPORT AND RECREATIONFinancial Assistance for FacilitiesThe Town's Financial Assistance for Facilities program assists with the provision or replacement of sporting and community facilities within the Town. In 2015/2016 this program provided $84,000 to the Cambridge Bowling Club to assist with the replacement of a bowling green. City Beach Tennis Club also received $23,000 to assist with funding the replacement of perimeter fencing. These projects were funded in conjunction with the Department of Sport and Recreation's Community Sporting and Recreation Facilities Fund.
In addition, the Cambridge Scouts and Girl Guides were provided with $50,000 to upgrade the Scouts/Guides hall located at Perry Lakes Reserve.
Kid SportIn 2015/2016, the Town partnered with the Department of Sport and Recreation (DSR) to promote and administer the KidSport program. The State Government, through DSR, provided funds to the Town to enable Cambridge children affected by financial hardship to participate in club sport. A total of $14,800 was provided to 74 eligible children aged 5 to 18 years to offset club membership fees. The Town actively supports participation in junior sport and recreation and the KidSport program ensures all children within the Town can be involved.
Club DevelopmentThe Town continued its partnership with the Department of Sport and Recreation (DSR) to deliver club development services to local sport and recreation clubs. 2015/2016 was the second year of the Town's Club Development program which focuses on assisting and supporting sport and recreation clubs and club volunteers so they can continue
22 Town of Cambridge Annual Report 2015-2016
to play an important role in building healthier, happier and safer communities. Clubs were offered opportunities to attend training workshops, and were provided information and advice about sport and recreation trends, club governance, strategic planning, attracting and retaining volunteers and funding opportunities.
VOLUNTEER RECOGNITIONThe Town hosted its annual Volunteers Function in September 2015 to recognise and give thanks for the dedication and commitment of volunteers in Cambridge. As in previous years, the function was held at The Boulevard Centre and included a full sit down breakfast and a number of formal presentations which profiled the work of some of our most outstanding local volunteers.
Mr Albert Iten, Mr Brett Chivers and Mrs Felicity Chivers were joint winners of the 2015 Club Volunteer Award.
Mr Iten has been a member and volunteer of the Floreat Surf Life Saving Club for 18 years and President for the past five years. During this time, he gave countless hours volunteering towards the smooth running of the club, successfully implemented the club's strategic plan and led various building improvements. He was also involved in the coaching and training of nippers, cadets and senior members in surf lifesaving skills.
Brett and Felicity Chivers were also jointly awarded the Club Volunteer Award for their tireless volunteering efforts with the Cambridge Scout Group over the last 13 years (combined total of 26 years).
They display enthusiasm in all their roles, having devoted countless hours to running scout groups and weekend camps. In 2011, Felicity and Brett received a national Scouts Australia "Silver Arrow Head Award" for excellent service to the Scout Association.
DISABILITY SERVICESThe Town of Cambridge aims to improve accessibility and inclusiveness for people with disability and their carers/families through the strategies outlined in the Disability Access and Inclusion Plan (DAIP) 2015-2018.
The Town’s DAIP is a statutory requirement of the state government under the Disability Services Act 1993 (amended 2004).
Some of the initiatives undertaken in 2015/2016 were:
• Upgrade of the Universally Accessible Toilet at the Wembley Community Centre: The upgrade provided additional space for client access and emergency assistance lights were installed to improve client safety;
• Ramp access installed - Floreat Beach boardwalk: Three ramps were installed to improve access to the boardwalk between Floreat and City Beach. The ramps were installed in the section of the boardwalk at Floreat Beach carpark which now provides a continual accessible path of travel; and
• Accessible Event Checklist completed: A checklist was developed to assist the Town's event organisers when planning and implementing events. This is
to ensure that people with disability are provided with the same opportunities as other community members to access and participate in public meetings, consultations, functions and events.
COMMUNITY SAFETYIn June 2014 Council endorsed the Community Safety and Crime Prevention Plan 2014-2016. Six priority areas are identified as key goals in the plan:
GOAL 1 Reduce Residential Burglary
GOAL 2 Decrease levels of graffiti and vandalism
GOAL 3 Reduce antisocial behaviour
GOAL 4 Increase education and awareness of community safety and crime prevention
GOAL 5 Decrease levels of theft from motor vehicles
GOAL 6 Increase road safety
Specific Community Safety Initiatives Implemented in 2015/2016Free Child Restraint Fitting Service
The Town provides a free child car restraint fitting service for local residents on the first and third Tuesday of each month. This service continues to be very popular. As part of Road Safety Week in May 2016, the Town partnered with Roadwise to set up a display at Cambridge Library to promote the service.
Neighbourhood Watch - Halloween Hotspot
In October 2015 the Town joined with other western suburb local governments to participate in the Halloween Hotspot program. Supported by Neighbourhood Watch, this initiative provides a safe and positive Halloween experience for children.
Get to Know Your Neighbour project
The Get to Know Your Neighbour project was launched in December 2015. The aim of this initiative is to create safer neighbourhoods through facilitating positive communication and relationships between neighbours. Residents were invited to host a 'Get to Know Your Neighbour' event with the Town supporting the host by supplying promotional material and a $100 Coles voucher to assist with catering. Five events were held in the Town which were successful in building neighbourhood relationships.
State Graffiti Funding
In 2016, the Town was successful in securing $5,500 from the WA Police State Graffiti Fund to implement the Anti-Graffiti Solar Lighting Project, which provided the opportunity for residents to receive a free solar light to install in their Right of Way.
23Community Development
Other Community Safety Programs• Further development of graffiti reporting and removal
program- 450 incidents of graffiti were dealt with at a cost of $73,000;
• Participation in the Juvenile Graffiti Clean-up Referral program;
• Continued support for the local Safety House program at Floreat Park and Lake Monger Primary schools;
• Ongoing funding for the Constable Care program, providing safety education within local primary schools;
• Support and promotion of Wembley Bright Blue Discos for local young people;
• Continuation of the Eyes on the Street program and training of new staff; and
• Continued provision of Community Safety and Crime Prevention packs to local residents.
CAMBRIDGE SENIOR SERVICESCambridge Senior Services provides Home and Community Care for eligible seniors, people with disability and/or their carers within the Town of Cambridge. Based at Wembley Community Centre, this service is funded by the State and Federal governments and delivered under the guidelines determined by the funding authority, the Department of Health, Aged Care Directorate, WA.
Cambridge Senior Services maximises independence and promotes wellness while enabling a 'can do' approach to maintain and rebuild skills for essential daily activities. Seniors are encouraged to stay connected with their community in a caring, inclusive and professional environment while using a person-centred approach.
In 2015/2016 Cambridge Senior Services provided 24,298 hours for 307 clients in the following service areas:
• Centre based day care and meals/refreshments;
• Domestic assistance;
• Personal care;
• Social support;
• Respite care;
• Transport (to attend Cambridge Club, shopping and medical appointments); and
• Podiatry.
Key achievements for the year include:
• Successfully completed a Quality Review by the WA Department of Health on 8 December 2015. All home care standards and outcomes were met;
• Big Quiz Day held on 28 October 2015 and on the 22 June 2016;
• Carers nutrition and cooking demonstration held on 11 November 2015;
• Seniors Christmas Lunch held at The Boulevard Centre on the 3 December 2015 for 150 guests;
• Initiated the Seniors Concert Series with concerts held in March and May 2016; and
• Numerous outings for seniors throughout the year to promote wellness and a positive connection to the community. Destinations included Araluen to see the tulips and gardens, live theatre experiences at WAAPA and Penrhos College, and lunches at Hillarys Boat Harbour.
'Have a Chat' ProgramThe 'Have-a Chat' program provides social activities and outings for young people with disability aged 18+. Throughout 2015/2016 the program was held fortnightly on Tuesday evenings at the Wembley Community Centre.
CAMBRIDGE YOUTH SERVICEThe Cambridge Youth Service (CYS) provides programs and support to young people aged 12 - 25 years, who are part of the Cambridge community. CYS is the only neighbourhood youth service of its kind between Fremantle and Wanneroo. Services offered include:
Number 86 Youth Centre, situated at 86 Cambridge Street in West Leederville
Provides a place where young people can drop-in for social recreation or to access Youth Worker support. Attendance at No. 86 continued to increase throughout 2015/2016 with 2,915 recorded attendees, compared to 2,420 in 2014/2015, and 1,792 in 2013/2014;
• Professional Youth Worker Support Qualified and trained Youth Workers provide support to young people with complex needs, providing assistance with crisis management, information and referral, advocacy, psycho-social support and suicide and self-harm prevention;
• School holiday events and activities Targets high school-aged young people seeking safe, affordable school holiday activities. Across the four holiday periods from October 2015 to July 2016, 263 young people attended a holiday activity, compared with 140 in the same period the previous year.
Ongoing term-time activities
Includes Open Mic Nights, arts groups, cooking and outings;
• In-school activities Such as RUOK Day activities, information sessions and special events like suicide prevention workshops;
• Offsite events Exposure Youth Music Festival youth stalls and busker's stage at Cambridge Street Festival;
• Cambridge Youth Network A youth-led network of young people who have a pivotal role in developing and delivering youth activities including Exposure Youth Music Festival, Halloween Quiz Night and the Young Writers Competition. In 2015/2016 the CYN also collaborated with other local Youth Advisory Councils, assisting to promote and run Ampfest and attending the Youth Advisory Council Conference.
24 Town of Cambridge Annual Report 2015-2016
The mean age of Youth Service users remains around 18 years. Young people aged 16 form the largest user group, followed by those aged 19 and 15. There are two distinct clusters of young people who use the service:
• Those 12 to 17 years of age - interested in events and school holiday activities, and
• A more independent group in their late teens and early 20's - high-risk young people with complex needs that require more intensive support.
The ways in which the Youth Service is being accessed and used by young people is changing. Although face-to-face is still very much the major form of contact, there has been a large increase in on-line contact, from just 4% two years ago to 18% in the last year.
During 2015/2016, there was an increased emphasis on partnership and collaboration with schools and local youth advisory groups in other local government areas. In addition to regular holiday activities, Open Mic Nights and other annual events, all of which experienced a rise in participation, there were a number of new initiatives and special projects:
• The Suicide Prevention Project Funded with a grant from the Ministerial Council for Suicide Prevention, delivered SafeTALK and ASIST Suicide Prevention workshops to young people, professionals and semi-professionals working with young people and community members;
• Youth Art Workshops and Exhibition Participants were offered the chance to work with a well-known urban artist to create a piece for exhibition at the Exposure Youth Music Festival and at the Cambridge Street Festival;
• Partnerships with Churchlands SHS and Shenton College CYS is now working with school staff to provide services and events via the schools;
• Barista Training This very popular program is now offered on a more ad hoc basis to fit with young people's complex timetables;
• Young Writer's Competition The 2015 competition attracted an increased number of entries, assisted by a series of new workshops with local authors;
• Youth Leadership Camp CYN members participated in a three day leadership training camp at Fairbridge Pinjarra which focused on team building skills; and
• Expansion of Perry Lakes Skate Park Stage 2 of the redevelopment of the skate park continues, with funding grants now approved to construct an enclosed linked bowl designed to challenge more advanced skaters, plus a shade shelter, additional seating, timer-controlled floodlights, connecting paths and more landscaping. This project will be completed in 2017.
BOLD PARK AQUATICOn Saturday 28 November 2015, the new Bold Park Aquatic opened for business following a year-long $12.5 million redevelopment. The new centre designed by Donovan Payne Architects and built by Doric Group, features:
• A 10 lane 50 metre lap pool with access ramp and shaded grandstand;
• A semi-enclosed leisure pool with beach entry, teaching pod and 4 x 20 metre lanes;
• A multi-purpose room for crèche, group fitness and birthday parties;
• Accessible and family change rooms;
• An adventure playground; and
• A café and barbeque facilities.
Bold Park Aquatic was officially opened on Saturday, 12 December 2015 where invited guests witnessed Mayor Keri Shannon and Save Bold Park Action Group member Faye Boyd unveil a plaque commemorating the occasion.
The Centre caters for lap swimmers and families looking to enjoy a leisurely swim, and also provides a wide range of learn-to-swim programs, squad training and group fitness classes.
Bold Park Swim Academy commenced operating on 1 February 2016 and over the next five months took 1,803 attendances in infant classes, 9,346 attendances in the 'Swim and Survive' program and 380 attendances in squad training.
The Academy is endorsed by AUSTSWIM and Royal Lifesaving and uses the same curriculum as the Education Department to ensure continuity across swim stages. In addition, the Academy delivered exclusive in-term swimming programs to one local school.
The Centre also ran a range of fitness programs for all ages and abilities including aqua aerobics, Living Longer Living Stronger, Body Harmonics and Fab 50's. A fully staffed crèche and a range of birthday party options were also provided for families with young children.
A number of community groups regularly use the Centre including Bold Park Masters Swimming Club, Trench Sports and Floreat and Scarborough Surf Life Saving Clubs. The Centre also hosted the Education Department's Vacation Swimming program in January 2016 as well as five school swimming carnivals during February and March 2016.
25Community Development
COMMUNITY FACILITIESThe Boulevard CentreThe Boulevard Centre is a multi-purpose training and function venue built in 2002. Over the last 14 years it has become a popular facility for corporate training seminars, community events, group meetings and private functions.
The Boulevard Centre operated in a difficult conference market throughout 2015/2016. Despite this, the mix of user groups remained consistent with the previous year:
• Not for profit and Government funded agencies (58%);
• State and Federal Government departments (11%); and
• Commercial business or private hirers (31%).
In 2015/2016 the Centre hosted 749 events with total patronage reaching 23,491 visitors, a reduction of 23% and 31% respectively on the previous year. This drop in utilisation reflects a significant reduction in spending across the Training and Development sector.
Apart from weekly conferences and seminars, The Boulevard Centre is also a popular venue for fundraising events with sporting clubs holding quiz and bingo nights. Further, 2015/2016 was the first year The Boulevard Centre hosted the Town's annual Seniors Christmas Luncheon, which by all reports was a great hit with senior residents.
Wembley Community CentreWembley Community Centre is home to the Town's Senior Services program and is used regularly by local groups in the evenings and on weekends. As a result of the high number of community services and activities available at the centre, it received a number of significant upgrades in 2015/2016:
• A new Universal Access Toilet;
• A dedicated laundry;
• Separate store room;
• New car park bollard lighting; and
• External sealing under the eaves.
The Wembley Community Centre was closed in January 2016 during construction. Patronage in 2015/2016 was consistent with the previous year with the majority of usage by non-profit organisations (88%) and the balance coming from commercial hirers (12%).
Leederville Town HallThe Leederville Town Hall is a classic example of 'turn-of-the-century' architecture and is the Town's oldest public facility available for hire. Following last year's exhibition for the 100th Anniversary of the Gallipoli landing, many local pictures and plaques from the start of the First World War still remains on display in the hall for public viewing.
The Leederville Town Hall has a number of regular hirers that use the historic facility every week.
The Quarry AmphitheatreThe Quarry Amphitheatre, located on Oceanic Drive experienced its most successful financial year since the Town took on the management of the venue in 2009. Operating revenue increased by 14% from last year, however due to some much needed maintenance and upgrades, expenditure was also up by 23%.
The 2015/2016 performance season accommodated 77 events: 46 performance events; 7 corporate events and 24 private events. A number of regular hirers expanded their production nights while some new hirers were also accommodated. Highlights included the West Australian Ballet, Kate Ceberano, A Big Tribute to the Blues Brothers, Pete Murray and Missy Higgins.
It was also an extremely busy year for facility upgrades at the Quarry, improving the amenities and general safety of the venue. Improvements included:
• New entrance road lighting bollards;
• New roof and paint for the office building;
• Plumbing and café upgrades; and
• New digital audio desk.
Safety improvements included a new Emergency Management Plan, a working at heights platform, a rock fall prevention system and anchor points installed around the perimeter of the rock walls, plus substantial repairs to the limestone walls to repair erosion and weathering. The Quarry is looking the best it has looked in many years.
CAMBRIDGE LIBRARYAn integral part of providing access to resources is creating inviting spaces for patrons, through promoting children’s literacy, lifelong learning, access to library resources and creative expression; presenting an inclusive environment and spaces that meet the needs of our patrons; and developing a responsive culture of service within our library. By focusing on these areas, we will ensure that the Library continues to thrive and remains an important and relevant community facility
Collections
The Library provides free access to popular, timely and desirable content that is easy to find in order to make available information, knowledge and culture.
Programs
The Library offers programs, activities and learning opportunities that make a difference to people's lives in order to improve their well-being and foster community spirit. As well as traditional literary based library use, a number of community programs facilitated by volunteers are also provided, including;
• Mah-jong
• Water colour painting
• Makerspace
• Book clubs
• Quilting
• Justice of the Peace (twice weekly)
26 Town of Cambridge Annual Report 2015-2016
Technology The Library provides infrastructure to provide access to digital services to improve efficiencies, better customer experience and better processes. The one-on-one computer classes have continued to be very popular and successful with many of the older community members who struggle with new technologies becoming adept at using digital services.
SpaceThe Library provides an attractive, functional, physical and virtual library to provide people with spaces that are welcoming, accessible, encourage learning and enable connection.
Early LiteracyTargeting children under the age of 12 years continues to be a major focus of the library, as emerging life-long patrons. The benefits of early literacy development includes expanded vocabulary and writing skills, social and emotional development, promoting longer attention spans, enhanced imagination and critical thinking skills. To achieve these goals the library conducts programs with over 6,000 participants. The programs include:
• New Mums talks at the Wembley Community Centre
• Baby Rhyme Time for 0 - 2 year olds, monthly
• Storytime for 3 - 5 year olds, twice weekly
• Better Beginnings for Pre-primary children
• State and national literacy programs
• Children's Book Week
• National Simultaneous Storytime
• School holiday programs
Library usage 2015/2016• Library visitors 373,980 (2.6% increase)
• Total members 17,004
• Active members 13,924
• New members 2,500
• Items loaned 285,280
• Enquiries 29,904
• Online catalogue searches 235,032 (16% increase)
• Library website visits 307,213
• Interlibrary loans 7,740
• Adult/children programs 166
• Attendees to programs 8,767
Wembley Golf CourseIt was a very busy year for Wembley Golf Course with construction of the new hospitality facilities Ambrose Estate function room, 300 Acres restaurant and bar as well as a new kiosk and change rooms. The change rooms were opened in April 2016, the kiosk in May 2016 and Ambrose Estate and 300 Acres are due to opened in August 2016.
Work also commenced in May 2016 on the exciting miniature golf course. This project includes an 18 hole mini golf facility, playground, ceremony pavilions and new practice facilities. Importantly, the mini golf includes nine accessible holes for less abled people (a first for Perth). It is expected that on completion (envisaged November 2016) the miniature golf course will be one of the best in Australia.
During the reporting period the Swing Driving Range continued to perform well with nearly ten million balls hit for the year. Golf rounds played dropped to approximately 148,000 as a result of disruption that comes with a significant building project and the higher than average rainfall from April through to June 2016.
The Gallus Golf Mobile App continues to be a great success with over 6,700 downloads. This free app is available in IOS and Android and Wembley Golf Course is the first in Perth to offer this great product.
The junior program continues to be a success, with over 95 juniors participating in either the MyGolf or RGX streams. The development of juniors is an important long term goal for Wembley Golf Course.
EnvironmentalThe tree planting program continued with over 1,000 native trees being planted in non-play areas. In the past 14 years over 15,000 native trees have been planted.
As part of the tree management program, ongoing annual airborne multi-spectral imagery is used to monitor annual change in canopy and condition of vegetation, and efficacy of treatment programs. Wembley Golf Course now has 21.7% of its total tree population (predominantly Tuart trees) over ten metres in height. This represents a significant tree population within the Perth urban area.
27Community Development
IANBIGNELLDIRECTORDEVELOPMENT AND SUSTAINABILITY
Development and Sustainability Services fulfils Council’s responsibilities with issues relating to planning, building, environmental health, environment, sustainability and ranger services.
Strategic Planning and Town Planning Scheme review 2015/2016 During the financial year 2015-2016 a number of strategic planning projects were progressed including initial steps to commence the Town’s Local Planning Strategy. Town Planning Scheme Amendment 27 was also approved which is a major scheme amendment to facilitate future development in the West Leederville Activity Centre.
Local Planning StrategyThe Town has taken its first steps to prepare a Local Planning Strategy which will provide a framework for long-term (10 to 20 year) planning for the Town, addressing social, environmental and economic factors which affect land use and development. A project plan to guide the delivery of the project was adopted by Council in April
2016 and advertising for tenders to assist the Town in undertaking the project will occur in July 2016, after which the appointed consultants will begin to undertake research and community consultation to guide the development of the Strategy.
Town Planning Scheme Amendment 27 - Omnibus AmendmentIn June 2016, Town Planning Scheme Amendment 27 was approved by the Minister for Planning, which represented a key milestone in the implementation of the West Leederville Activity Plan and review of the Town Planning Scheme.
The Scheme Amendment introduced the following:-
• A Mixed Use Zone to encourage a mix of commercial and residential development in West Leederville on Cambridge High Street and the Southport Street Node;
• A Residential R-AC0 Zone for the area between Kimberley Street and Abbotsford Street which promotes multiple dwellings and allows for the preparation of a set of specific built form standards to control development;
• A Special Use Zone which applies to the area north of Cambridge Street between Southport Street and the bowling club to enable more detailed planning for a new link to Leederville Station and mixed use redevelopment in the area; and
• A Special Control Area over the West Leederville Activity Centre to allow for more detailed planning to be adopted under the Town Planning Scheme for the centre.
Development and Sustainability
28 Town of Cambridge Annual Report 2015-2016
The Scheme Amendment enables the Town to undertake further detailed planning to prepare a Local Development Plan and detailed policy provisions for the new Residential R-ACO Zone.
The Amendment also incorporates a density bonus for Wembley corner lots allowing for these lots to be developed to R30 standards if specific requirements are satisfied.
Scheme Amendment 31At a Special Council meeting on 1 July 2015, Council considered a report on the outcomes of advertising and decided to adopt the Amendment 31 in modified form. The modifications included:
• Removal of the corner lot three dwellings proposal;
• No manor houses on corner lots;
• For the manor house option, maximum two apartments on 900sqm and larger lots and two apartments plus a small one bedroom apartment on 1000sqm and larger lots (three and four apartment options removed); and
• Increased minimum lot size of 900sqm for the Cambridge Street apartments.
The modified amendment was forwarded to the Department of Planning for consideration of adoption by the Western Australian Planning Commission. The Commission considered the Amendment on two occasions at meetings in October 2015 and January 2016, after which a recommendation was made to the Minister for Planning.
On 7 April 2016, the Town received advice of the Minister for Planning’s determination in relation to Scheme Amendment 31. The Minister decided to substantially modify and require re-advertising of the modified Amendment for a period of 60 days. The changes are summarised below:
1. Manor house proposal has been deleted.
2. Corner lots density increased to R20 subject to conditions. Provides development potential for lots greater than 900 sqm.
3. All lots within the 400 metre walkable catchment of local centres (Ocean Village, The Boulevard/Gayton Road and Birkdale Street) density increased to R30 subject to conditions.
4. Cambridge Street Lots (Selby Street to Floreat Avenue) have been rezoned to allow grouped and multiple dwellings to at least R40 and to a maximum R60 density.
In response to Council decisions on the matter, the Town sought legal advice and Senior Counsel Representation in relation to the Minister’s powers to modify an amendment. This resulted in Council deciding to request the Minister reject Amendment 31, on the basis it was significantly different and did not resemble the original proposal prepared by Council.
On 5 September 2016 the Town was advised Planning Minister Donna Faragher had rejected Scheme Amendment 31.
In August, the Minister had met with Town of Cambridge Mayor Keri Shannon and Chief Executive Officer Jason Buckley, who advised the Town, has engaged consultants to progress a local planning strategy, and the Town planned to initiate a new amendment once that strategy was completed. The new amendment will address the State’s objectives with respect to density, housing diversity and infill.
Centre PlansThe draft Wembley Activity Centre Plan is being prepared to guide future development in the Wembley Activity Centre, the area focused along Cambridge Street between Marlow Street and Essex Street.
Following advertising in 2015, the Plan has been subject to review with a focus on providing further clarification and to facilitate re-advertising in order to obtain broader community input into the plan Prior to it being finalised. It is expected community consultation will occur in August/September 2016.
In November 2015 the Town’s centre planning for West Leederville was awarded a Commendation at the Planning Institute of Australia WA Awards. The Town received a Commendation in the category of the President’s Award for the West Leederville Activity Centre Plan which was recognised for its contribution to supporting the State Government’s Activity Centre strategy.
Parkside WalkA number of significant milestones were reached in the planning for development of Parkside Walk, the former Nursery Site on Salvado Road, Jolimont. In July 2015, the Western Australian Planning Commission adopted the Outline Development Plan. Design guidelines were then adopted by Council in December 2015. The subdivision plan has been approved and work is expected to commence on the site in late 2016.
Town Planning Scheme Amendment 32 - Perry Lakes EstateTo facilitate the reinstatement of planning control to the Town over the Perry Lakes Redevelopment Act area, Scheme Amendment No. 32 was prepared which rezones the land for residential purposes and reserves parts of the area for recreation, and establishes a Special Control Area. This will give force to the Redevelopment Plan and Western Australian Planning Commission approved Detailed Area Plans and Design Guidelines applicable to the area. The Scheme Amendment was approved by Council in November 2015 and is expected to be completed early in the 2016/2017 financial year.
29Development and Sustainability
Design Advisory PanelsThe Town developed a policy to introduce a Design Review Panel which was adopted by Council in June 2016 and is intended to provide the Town, Council and applicants with independent advice on the design quality and architectural merits of development proposals. Design review focuses on the incorporation of sustainability principles, streetscape presentation, pedestrian friendly environments, street orientated development, functional mixed use areas and protection and enhancement of heritage and character. The Town worked with the Office of the Government Architect which congratulated the Town on its leadership in encouraging better public amenity and residential design outcomes.
Scheme Amendments In addition to the above mentioned Scheme Amendment 27 and 32, a number of other Scheme Amendments were either advertised or gazetted as follows:-
• Scheme Amendment 29 was gazetted in October 2015 to introduce an Additional Use for Consulting Rooms (Group) at No. 210 Cambridge Street, Wembley.
• Scheme Amendment 30 was gazetted in February 2016 to introduce an Additional Use for Hospital - Special Purposes at No.61-69 Cambridge Street, West Leederville (Abbotsford Private Hospital).
• Scheme Amendment 33 was initiated by Council in August 2015 to rezone No.350 Cambridge Street, Wembley (Wembley Hotel/Cambridge Forum) from ‘Public Purpose’ and ‘Residential R20’ to ‘Local Centre’.
Policy Updates and ReviewsThe following Local Planning Policies were either introduced or updated as follows:
• Policy 5.1 - Parking - Revised parking ratios and cash-in-lieu rates.
• Policy 5.7 - Construction Management Plans - new policy to ensure construction of new development is appropriate managed.
• Policy 3.13 - St John’s Wood, Mount Claremont - new policy to address residential design for the new St John’s Wood housing estate in Mount Claremont.
• Policy 5.2 - Advertising Signs - revised to prohibit third-party advertising including large billboards and LED signage.
Statutory Planning
Planning and Development (Local Planning Schemes) RegulationsThe new Planning and Development (Local Planning Schemes) Regulations 2015 came into effect on 19 October 2015, replacing the Town Planning Regulations 1967 and the Model Scheme Text. The Regulations introduce a set of ‘deemed provisions’ which automatically apply and form part of the Town of Cambridge Town Planning Scheme No. 1. The intent of these Regulations was to bring consistency for all town planning schemes across the State.
The existing Town Planning Scheme No.1 and Town’s Planning Policies should be read in conjunction with the new ‘deemed provisions’. Where there is inconsistency between a ‘deemed provision’ and an existing scheme provision, the deemed provision will prevail.
The new Regulations also set out procedures for scheme amendments. These procedures seek to streamline local scheme amendments by adopting a ‘track-based’ approach, with different timeframes allocated for basic, standard and complex amendments.
Development ApprovalsAll development applications are assessed under the provisions of Town Planning Scheme No. 1 and associated policies. During the year, 451 development applications worth an estimated $122,256,174 were received for residential, educational, commercial, medical and infrastructure applications. The table below provides a breakdown of significant development applications received by the Town this financial year including medical, commercial, infrastructure and educational facilities:
No. of Applications
DescriptionTotal Estimated
DevelopmentCost
1 City beach sewer infill (infrastructure project) $4,800,000
6 Educational facilities $ 258,000
30 Commercial applications $2,121,806
2 Medical applications $1,130,079
Cambridge received 23 subdivision referrals from the Western Australian Planning Commission for green title, amalgamation/re-subdivision and survey strata subdivisions.
Building ServicesThe Town is responsible for ensuring that residents who apply to build new premises or make additions or alterations to premises, comply with all relevant codes, regulations and standards.
The purpose of a building approval is to ensure that structures meet National Construction Code structural and safety standards and ensure that the interests of both neighbours and the community are considered in this process. The Building Act 2011 requires segregation of applications into seven sub-categories. The Town received 336 Certified Permits, 241 Uncertified Permits, 68 Demolition Permits, 14 Building Approval Certificates, 5 Building Approval Certificates (Strata), 24 Occupancy Permits and 4 Occupancy Permit (Strata) applications during the year. Certified and Uncertified building permit applications received during the year were assessed for Town Planning Scheme compliance.
30 Town of Cambridge Annual Report 2015-2016
COMPLIANCE SERVICES The role of Compliance Services is to ensure that development in the Town is in accordance with planning and building approvals and that development/construction sites are maintained in a manner which does not adversely impact on the community. Compliance is also responsible for the administration of the Town’s Private Swimming Pool Inspection program.
Planning - Front FencesThere were five non-compliant front fences investigated and four planning directions issued. Of these five front fences, four were altered to comply with the Town’s policies. The remaining one front fence fell under the Perry Lakes Guidelines and was followed up by an external agency.
Planning - OtherA total of 165 other planning matters were investigated for works with no development approvals, non-compliance with the approved development approval, home occupations, short stay accommodation; and signage. There were 38 Requests to Comply notices issued for numerous non-compliant planning items. A further five planning directions were also issued.
BuildingOne hundred and one building related matters investigated. These consisted of unauthorised work with no building permits, other land adversely affected by building, damage caused by builders to neighbouring properties, verges, dangerous walls or unsafe structures. Five building orders were issued along with eight requests to comply.
Verges
Twenty-eight verge investigations were completed and 19 Request to Comply notices issued. These matters ranged from unsafe verges, storage of unauthorised items such as sheds and portable toilets and non-compliance with the Town’s policies, such as excessive paving or vegetation.
Verge PermitsSixty-eight verge storage applications were received by Compliance Officers. Of these, 63 were approved with various conditions. There were five applications refused due to verge size and obscured vision to passing vehicles.
Construction SitesThree hundred and one construction sites were investigated for a range of issues such as storage of materials, dust, rubbish, noise and unsightly unsafe sites. There were 57 Request to Comply notices were issued. The Town issued two infringement notices to builders.
Private PropertyOne hundred and ninety-four other investigations relating to private property occurred. These included stormwater and pool water discharge, sand drift, disused materials, unsightly land, boundary fences and a range of miscellaneous items. Thirty-six Requests to Comply were issued.
Private Swimming Pool inspectionsCompliance officers undertook 1,481 private swimming pool inspections for compliance with the Australian Standards. Three infringements were issued for non-compliant swimming pool enclosures.
Construction Management PlansOn 22 September 2015, Council adopted a Policy - Construction Management Plans. The Town requires careful management of large developments projects to ensure appropriate consideration is given to the planning and management. The requirement for a Construction Management Plans (CMP) may be specifically stated in the planning approval, or otherwise required by the Town, in situations:
1. Basement excavations;
2. Demolition of more than two storeys;
3. External works with a value greater than $1 million;
4. Where traffic or pedestrian management measures are required;
5. Where there is a likelihood of damage to local government property; and
6. Any other case where the Town considers a CMP should be provided due to the nature of the work, or locality, or where the amenity of the area is likely to be disrupted or adversely affected.
At the Council meeting held on 23 February 2016, Policy No: 5.1.5 “Street Tree Protection During Development” was adopted to require protection of verge street trees adjacent to developments.
Construction Management Plan approvals:
Item 2014/2015 2015/2016
Major development 4 1
Medium development 1 7
Minor development 0 7
Total 5 15
31Development and Sustainability
Environmental Health ServicesThe Town’s Environmental Health Officers (EHOs) undertake routine and proactive initiatives to ensure the community and the environment are protected from unnecessary hazards. Public health is often taken for granted however it is only through ongoing programs such as food premises inspections, food hygiene education, routine and complaint based food sampling, vermin control and customer requested health investigations that we enjoy a high standard of public health.
Food Premises The following tabulates those results:
Health Item 2011
/ 201
2
2012
/201
3
2013
/201
4
2014
/201
5
2015
/201
6
Food premises inspections 343 259 345 338 361
Health registrations/permits
54 31 52 55 51
Food Stallholder permits - 1 day events
63 79 90 134 181
Food Stallholder permits - 6 month 4 10 2 3 4
Outdoor Eating Area permits 13 7 5 23 26
Food fit out permits 3 7 11 10 10
Food Complaints and Food SamplingEnvironmental Health Officers dealt with 15 complaints alleging sub-standard food which required investigation with the vendors and manufacturers.
The Town continued to participate in the WA Food Monitoring Program in conjunction with the Department of Health. Chemical analysis is undertaken to monitor compliance with the Food Standards Code, and microbiological analysis to examine standards of food production hygiene. The Town is a member of the Food Monitoring Group (FMG), which consists of representatives from the Department of Health, the Local Health Authorities Analytical Committee and various Local Government Authorities.
Health Promotion, FoodSafe ® and I’m Alert Food Safety Training ProgramHealth promotion activities continued individually with residents, such as the investigation of rodent complaints, and with food businesses, such as the promotion of FoodSafe ® and “I’m Alert” on-line training program. The Food Act requires that food businesses serving food to vulnerable persons have an approved Food Safety Plan in place. ‘Vulnerable persons’ predominately encompasses businesses serving food to residents at hospitals, aged care facilities and child care centres.
Food Premises and Stall Holder’s Permits361 routine inspections of food premises in the Town were undertaken in the year to ensure compliance with general hygiene and food handling practices. Environmental Health Officers liaise with promoters of sporting and large community events to maintain acceptable standards for food safety and hygiene. A total of 181 stall holder permits were issued during the period. 79 inspections of food stalls and food vans were undertaken to ensure compliance with the relevant legislation.
Health General - complaints92 general health or environmental complaints were received and investigated.
Effluent Disposal Systems/Sewer In-fill
During the year the State Government’s advised Water Corporation a sewer in-fill program would commence to approximately 310 properties in City Beach. Seven applications for new septic tank effluent disposal systems and aerobic treatment units were approved in the year.
Noise Control and Environmental Protection A total of 139 environmental or domestic noise related complaints were received during the year.
Rodent Control137 packets of free rodent bait were issued to residents.
Midge Control There were two recorded complaints regarding midge nuisance in Lake Monger Reserve.
32 Town of Cambridge Annual Report 2015-16
Public Swimming Pools and Ocean Water Sampling91 samples of water from ten public and institutional swimming pools located within the Town were analysed for microbiological and chemical water quality assessment. In partnership with the Department of Health, routine sampling of ocean water at Floreat and City beaches continued during the summer months. Twenty-nine (29) samples were submitted for analysis. All were found to comply with the microbiological requirements for recreational waters.
Public Building InspectionsIn 2015/2016, 35 public buildings were inspected for compliance with the Health (Public Buildings) Regulations 1992. Particular attention was paid to emergency exit doors, locks and signage, emergency evacuation plans, fire prevention and control, and required documentation. Premises identified with non-compliances are subject to follow-up inspections to confirm compliance with the required regulations.
ImmunisationInfluenza vaccinations for Town of Cambridge employees were conducted through the new LGIS Health and Wellbeing program and provided by Spot screen. This year, 69 Council employees were immunised through the staff influenza vaccination program.
Infectious Diseases Environmental Health Officers are no longer required to investigate infectious diseases notifications due to sophisticated clinical analysis techniques used by the Department of Health.
Health Orders and Notices issuedDuring 2015/2016, a concerted effort was made to address a number of long standing complaints relating to sub-standard housing and untidy and overgrown yards containing disused materials. As a result of this effort:
Three Health Act 1911 Section 135 Notices for Unfit Houses were issued.
Four Section 137 Health Act 1911 Notices for Repair or Amend substandard houses were issued.
Four Local Government Act Notice were issued. These Notices related to:
• Unkempt and untidy land/accumulation of disused materials/ overgrown vegetation (2);
• Unauthorised structures on local government land (1);
• Intrusive ‘light spill’ causing a nuisance (1).
Ranger ServicesThe Town’s Rangers continued to contribute in a positive way to the security and orderly conduct of the Town. Key activities and achievements are detailed below.
ParkingParking control and enforcement activities is a major operational activity for Ranger Services Staff. The table below provides statistical information about parking control activities during 2015/2016 and comparative information from the previous years:
Item 2011
/ 201
2
2012
/201
3
2013
/201
4
2014
/201
5
2015
/201
6
Parking infringements issued
9,543 9,940 7,011 8,826 9,469
Written cautions issued 1,225 1,124 1,306 922 968
Parking infringement appeals
1,019 1,225 839 1,111 1,121
Parking infringements withdrawn
650 734 469 623 697
Parking prosecutions 3 2 2 3 2
Residential Parking PermitsInformation about the Residential Parking Permit System is provided to residents in areas where new restrictions were introduced. As at 30 June 2016, 1,196 Residential Parking Permit applications had been processed.
Parking AgreementsThe Town has agreements in place where Rangers enforce the Parking Local Law at private parking facilities. Ranger Services undertook parking compliance inspections at 128 private car parks on behalf of businesses and residential owners.
Abandoned vehiclesRangers attended 81 reports of abandoned vehicles; of these 11 vehicles were impounded and sold after owners failed to collect the vehicles within 60 days. The remainder of the vehicles were moved by their owners.
Beach SafetySurf Life Saving WA, (under contract to the Town), monitors beach safety and provides lifeguard services for beach users at both City Beach and Floreat all year round. During the 2015/2016 season, beach lifeguards and volunteer lifesavers recorded the following incidents:
Incident 2015/2016
Preventative actions* 11,835
First aid 1,304
Rescues 63
* Preventative action is any action which may have prevented injury or incident to another person.
33Development and Sustainability
Dog ControlCommunity education on responsible dog ownership continued; pamphlets were distributed with all dog registration renewals forms to local residents within the Town. The Town maintained its association with the Shenton Park Dogs Refuge Home as the Town’s dog pound. There are 2,968 dogs registered with the Town of Cambridge. The following table provides information about dog control activities during 2015/2016:
Activity 2011
/ 201
2
2012
/201
3
2013
/201
4
2014
/201
5
2015
/201
6
Dogs Registered 2,683 2,765 2,871 2,826 2,968
Dogs impounded 58 60 47 70 70
Dogs claimed by owners 58 53 38 59 59
Dogs held for sale 0 7 8 7 7
Dog attack complaints 19 18 34 29 45
Nuisance dog complaints 40 51 48 68 63
Dog wandering reports N/A N/A N/A 148 140
Dog infringements 32 295 115 54 52
Dog cautions 18 264 448 406 286
Dog prosecutions
1X2
offe
nces
1x3
offe
nces
1X2
offe
nces
1X2
offe
nces
1x1
offe
nce
1X1
offe
nce
1X10
off
ence
s1X
1 of
fenc
e
Cat ControlThe Cat Act 2011 came into effect on 1 November 2013 and requires all cats be registered, and young cats be sterilised prior to registration. There are 756 cats registered with the Town of Cambridge. The following table provides information about cat control activities during 2015/2016:
Item 2013
/201
4
2014
/201
5
2015
/201
6
Cats registered 590 655 756
Cats impounded 2 10 6
Cats claimed by owners 0 8 3
Cats held for sale 0 0 0
Cat infringements 0 1 1
Cat cautions 0 7 1
Bush Fire Control208 Bush Fires Act notices were issued to owners of residential and vacant land to clear their land of any fire hazard and flammable material. All lands assessed as being non-compliant were made compliant to the Town’s standards. Two infringements were issued and three properties cleared by a contractor costing $2,050. Contractor costs are payable by the property owner.
Litter Control12 Litter Act Infringements notices and three cautions were issued.
Sustainability ServicesIn accordance with the Town’s Strategic Community Plan, Cambridge embraces the principles of sustainability when making decisions to balance the needs of both current and future generations through environmental protection, social advancement and economic prosperity. The Town aims to be environmentally responsible and lead by example.
Community InitiativesAnnual Spring and Autumn workshops held at the Town of Cambridge Administration Centre were presented by Beyond Garden, Birdlife WA and Great Gardens and covered subjects such as water wise gardening for local soils and climate and productive gardening. Birdlife WA presented workshops on local birdlife followed by field days. Odd Fodder also presented a very engaging and practical workshop on cultivating superfoods.
The Town hosted the Lake Monger Markets on Saturday, 25 October 2015 as part of the Garage Sale Trail. Locals browsed 140 stalls plus enjoyed the range of food options, family fun and entertainment also on offer. The annual event promotes the reuse of items to reduce waste going to landfill. School holiday nature based activities were held in conjunction with Botanic Gardens and Parks Authority and the Naturalist Society and included school holiday Sunset Stalks at Bold Park and a Frog Stalk at Perry Lakes.
From June 2015 the Town offered free eco-audits to Cambridge residents. With help from an auditor the program helps residents become aware of their energy and water consumption and provides advice on how to reduce it. The program has been very popular with all available audits booked.
Western Suburbs Regional Organisation of Councils (WESROC) PartnershipThe Town of Cambridge has sold more than 20,000 plants over the past nine years and is the WESROC Council with the highest uptake during the annual Native Plant Subsidy Scheme. A 100% uptake was achieved this year with more than 3,000 plants purchased.
34 Town of Cambridge Annual Report 2015-2016
Switch Your Thinking ProgramResidents and businesses are eligible for discounts on products such as rainwater tanks, pool covers, insulation paint, eco products, energy and water audits and green printing. A rebate on Solar PV systems was added this year. The Town continued to support the annual Young Inventor of the Year competition to raise awareness of the value of recycled materials and reducing waste to landfill. Programs were run in conjunction with the Cambridge Library during school holidays.
Community GardensThe Town is fortunate to host two Community Gardens, the West Leederville Community Garden has been thriving since June 2007 and the Lake Monger Community Garden was recently established and is making excellent progress. These gardens provide a local hub for residents and play an important role in creating thriving communities.
Community GroupsThe Town works with several community groups which help care for the natural environment. These groups perform a vital role in improving and protecting the natural areas where they generously volunteer their time.
Cambridge Coastcare - continued their great work and planted over 5,500 plants this year.
Friends of Bold Park - with funding from the Town, hosted the Friends of Bold Park Open Day and assist with community nature activities. Friends of Roscommon Park - the ongoing support of the group helps maintain the biodiversity value of this important piece of remnant bushland.
Waste Management InitiativesWorm farm and compost bin rebates are available to residents from March to May annually. The program aims to reduce organic waste transferred to landfill.
Sustainable Schools ProgramAssistance is provided to teachers to integrate sustainability into their lessons through the Town’s Sustainable School programs. Lake Monger Primary School received a grant from the Town to install a bushfood garden.
Energy EfficiencyTwo photo voltaic solar systems have been installed at the Town’s facilities. The 30kW system at the Administration Centre has ensured an average of 30 tonnes of carbon emissions was avoided per year, since installation in September 2014. The 10kW system at the Library, installed in June 2011, avoids approximately 13 tonnes of carbon emissions per year. Solar evacuated tubes were installed at Bold Park Aquatic.
Water Efficiency and Quality MonitoringThe Town was one of the first local governments to be Water Corporation endorsed Waterwise. Wembley Golf Course has been a Waterwise Golf Course with Gold Status since 2014. Endorsement will be sought for the newly developed Bold Park Aquatic. Corporate scheme water use has trended down at a rate of 1,567kL per year since 2000. The Town has reduced water use by 40%, surpassing the Water Corporation’s Perth target of 15% reduction between 2001 and 2030.
BiodiversityBiodiversity initiatives in 2015/2016 included Biodiversity Action Plan works, Arbour Day, community plantings and the Native Plant Subsidy Scheme. In the past year a weed control and revegetation program has been undertaken at Chipping Park, Roscommon Park, the Quarry Amphitheatre and Templetonia Park. A total of 3,000 seedlings were planted across the reserves.
Travel Smart The Town’s Travel Smart program encourages local schools, staff and the community to choose sustainable transport options such as walking, cycling, public transport and carpooling, reducing traffic congestion and making our community more active and safer.
A number of schools received funding for walk and cycle to school event days where students enjoyed a healthy breakfast when they arrived at school including Bold Park Community School, City Beach Primary, Floreat Park Primary, Holy Spirit Catholic Primary, The International School, Wembley Primary and West Leederville Primary.
Waste Management InitiativesWorm farm and compost bin rebates are available to residents from March to May annually. The program aims to reduce organic waste transferred to landfill by helping residents utilise their household waste to generate organic material that can be used to build a healthy soil and garden. The program has been running for four years and around 130 residents have taken advantage of the rebates.
Assistance is provided to teachers to integrate sustainability into their lessons through the Town’s Sustainable School programs. Lake Monger Primary School received a grant from the Town to install a bushfood garden and Steve McCabe from Beyond Gardens assisted with setting up the garden.
35Development and Sustainability
Energy EfficiencyTwo photo voltaic solar systems have been installed at the Town’s facilities. The 30kW system at the Administration Centre has ensured an average of 30 tonnes of carbon emissions was avoided per year, since installation in September 2014. The 10kW system at the Library, installed in June 2011, avoids approximately 13 tonnes of carbon emissions per year. Further Installation of more renewable energy systems is being investigated.
Solar evacuated tubes were installed at Bold Park Aquatic. Electricity usage is being monitored through a metering and monitoring system, providing detailed consumption figures to optimise use.
Total electricity consumption and carbon emissions for the Town’s facilities is monitored through the Greensense Greenhouse Gas Emissions Platform.
Water Efficiency and Quality MonitoringThe Town was one of the first local governments to be Water Corporation endorsed Waterwise. Wembley Golf Course has been a Waterwise Golf Course with Gold Status since 2014. Endorsement will be sought for the newly developed Bold Park Aquatic.
Corporate scheme water use has trended down at a rate of 1,567kL per year since 2000. Relative to the base year of 2000 the Town has reduced water use by 40%, surpassing the Water Corporation’s Perth target of 15% reduction between 2001 and 2030.
Community consumption has been stable since 2011 with an average of 3,400,00kL per year being consumed. Residents are encouraged to use pool covers and water efficient appliances to reduce consumption. Converting verges from lawn to native waterwise gardens is encouraged through the Native Plant Subsidy Scheme and various gardening workshops to educate the community about waterwise gardening.
BiodiversityBiodiversity initiatives in 2015/2016 included Biodiversity Action Plan works, Arbour Day, community plantings and the Native Plant Subsidy Scheme.
Rehabilitation works continued under the Town’s Biodiversity Action Plan. In the past year a program of weed control and revegetation has been undertaken at Chipping Park, Roscommon Park, the Quarry Amphitheatre and Templetonia Park. A total of 3,000 seedlings were planted across the reserves.
Reducing community water consumption is encouraged by planting local native species on verges and in gardens. Town of Cambridge residents were invited to participate in the Native Plant Subsidy Scheme conducted through the Western Suburbs Region of Councils (WESROC). The annual scheme which runs during May offers local residents the opportunity to purchase up to 80 native seedlings from APACE nursery in North Fremantle for $1.50 per plant. one hundred per cent of the seedlings were purchased.
Travel Smart The Town’s Travel Smart program encourages local schools, staff and the community to choose sustainable transport options such as walking, cycling, public transport and carpooling.
The Town worked with schools to encourage students to walk and cycle to school - helping to reduce traffic congestion and make schools safe, happy and active places. A number of schools received funding for walk and cycle to school event days where students enjoyed a healthy breakfast when they arrived at school. Bold Park Community School, City Beach Primary, Floreat Park Primary, Holy Spirit Catholic Primary, The International School, Wembley Primary and West Leederville Primary.
36 Town of Cambridge Annual Report 2015-2016
Asset ManagementThe Council is custodian of a portfolio of infrastructure assets valued at more than $300 million. As custodians of public assets, good governance requires the Town to have a strategic approach to asset management. We continued to improve the way we manage infrastructure assets by adopting a systematic approach in accordance with the guidelines set out in the International Infrastructure Management Manual (IIMM 2011)
In the upcoming year, the following activities are planned
• Development of a 10 Year Long Term Capital Works Program
• Undertake a maturity assessment of the Town’s asset management’s systems approach
• Review and update the Town’s existing Strategic Asset Management Plan.
• Adopt asset management practices aligned to international standards ISO 55001
During the reporting period, the Town continued to comply with the State Government’s Integrated Planning and Reporting requirements. The Town has completed the revaluation of all assets associated with its plant and equipment, using fair value practices.
The Town continues to update its Asset Management software program AssetFinda to facilitate the development of its Asset Management Plans and to provide accurate renewal requirements for the next 10 years.
Condition assessment surveys of all Town buildings commenced and a program based on a whole of life cycle approach for maintaining its key assets in good condition is progressively being implemented.
Throughout the year, Council has continued to responsibly manage its asset management programs and incorporate ecological design features into its projects wherever possible. Examples of sustainability initiatives incorporated into its asset replacement programs are outlined below:
• LED lighting installed to the Library and Depot
• LED Lighting installed to parks and recreation areas
• Installation of evacuated solar tube heating panels at Bold Park Aquatic
Evacuated solar tube heating panels were installed on the roof of Bold Park Aquatic to help reduce carbon emissions.
Infrastructure
37Infrastructure
DIRECTORINFRASTRUCTURE
COLYERCHRIS
Building Capital Works ProgramThe Town has completed a number of capital works projects in 2015/2016 including:
• Replacement roof at Floreat Surf Life Club
• Replacement of main electrical distribution board - Henderson Park toilets and change room
• Replacement windows and frames - Henderson Park toilets and change room
• External brickwork repairs, and rendering to Henderson Park toilets and change room
• Asbestos removal program across the building portfolio
Road ResurfacingThe Town has 172km of sealed roads, which depending on traffic loading, are ideally resurfaced every 20 - 30 years. During the year, 7.9km of road was resurfaced at a total expenditure of $1,967,000. The major projects were grant funded and were located on Donegal Road, Essex Street, Launceston Avenue and Railway Parade.
LanesAtterton Lane, Jacobsen Lane and Piper Lane, located adjacent to Grantham Street in Wembley, were improved by constructing a pavement, sealing, kerbing and installing drainage. Loveridge Lane, Crofts Lane and Waddington Lane are in progress. Funding for all six lanes was $1,102,000.
Stormwater DrainageThe Town maintains a network of 101km of stormwater pipes and 5,352 drainage pits that transfer stormwater into a combination of 22 sumps, four lakes and four Water Corporation main drains. An improvement program commenced in 2011 to address flooding issues which occurred during the intense storms of March 2010.
Eleven improvement projects were completed on Clune Avenue, Joseph Street, Moray Avenue, Oxford Close, Oceanic Drive, Glengariff Road, Holland Street, Reserve Street, Marlow Street, Kavanagh Street and Levitt Lane. Another four projects were designed for Chipping Road, Railway Parade, McCourt Street and Keane Street for construction in 2016.
The total expenditure on all drainage works was $764,000.
Footpaths and Shared PathsThe Town continued to improve its network of 156km of footpaths and 33.5km of shared paths in accordance with its Footpath Improvement Program and Bike Plan with a total expenditure of $690,000. A total of 5.28km of old slab footpaths was replaced with concrete paths. A new path was constructed on Kavanagh Street.
Bus SheltersThe Town currently has 200 bus stops and 86 bus shelters. Another 20 bus shelters are provided by Adshel Pty Ltd in return for advertising rights on those shelters. The Department of Transport upgraded 120 bus stops with a raised concrete hardstand that complies with the current disability service standards. In association with this project, the Town replaced nine old shelters with new shelters on the new hardstands for a total cost of $61,000.
New replacement roof installation at Floreat Surf Life Saving Club.
Road Work ProjectsThe total expenditure for improving the road system was $1,367,000. Significant projects included:
• Salvado Road - roundabout at entry to St John of God Hospital
• Cambridge Street - widened median island for pedestrian crossing near Oxford Close.
• Replacement of chicanes with speed plateaus in Daglish, Essex, Holland, Jersey, McKenzie and Pangbourne streets
• Traffic island in Bent Street near Chipping Road.
• Grantham Street - pedestrian crossing at McKenzie Street
• Kerb replacement in Nanson Street, Jukes Way, Railway Parade, Cambridge Street and MacEwan Street
38 Town of Cambridge Annual Report 2015-2016
Engineering DesignThe Engineering Design section supports the operations of infrastructure works, planning, waste management and parks with the preparation of detailed designs and development plans.
• Activities to prepare future programs and formulate efficient asset management included:
• Liaison with adjacent councils and government authorities, such as Perth Transport Authority and Main Roads WA on traffic management issues;
Laneway construction
Salvado Rd Roundabout construction
Salvado Road roundabout at the
St John of God Hospital entry
Pedestrian crossing improvements on
Grantham Street east and west of McKenzie Street
Examples of some recently completed design projects include the following:
• Collection of traffic speed and volume data on Town roads;
• Assessment of traffic crash statistics and preparation of designs of treatments to improve safety and reduce vehicle, bicycle and pedestrian accidents;
• Recommendations on traffic management proposals to improve safety and amenity of residents;
• Liaison and consultation with residents and other road users on traffic related issues;
• Assessment of residential and commercial development planning proposals in relation to traffic and safety issues;
• Assist with the preparation and implementation of the Building Management Program for the maintenance and enhancement of the Town’s public buildings;
• Establishing a forward works program of well-planned design projects which builds on relationships and funding from State and Federal Government;
• Proposing and implementing parking restrictions in order to manage road safety and amenity issues.
• Review proposed development plans for land development at the Salvado Road former Nursery site and Area G in Mount Claremont;
• Developing concept plans for future Blue Sky road and parking improvements which aligns with Perth Transport Plan for 3.5 million and Beyond;
• Town of Cambridge 2017 - 2022 Bike Plan. The Town is currently managing the development of this plan with Cardno Consulting Engineers.
39Infrastructure
Existing tree to be removed
Existing tree to be retained
Proposed tree
Concrete paving
Picnic setting
Boardwalk
Rubber softfall (impervious)
Laterlite gravel (pervious)
Irrigated turf
Verges to be dry grass
Limestone wall
Concrete kerb
900 high fencing
Existing transformer
Bubble up
Drainage improvement projects across the Town aimed to alleviate localised runoff issues. Sites included the following:-
• McCourt Street/Woolwich Street - involves replacing the playground. An underground detention system to cater for approximately 1150m2 has been designed to assist with major storm events while also providing a shallow overland drainage swale path for storm water. (Council will consider design and estimated costs in 2016).
• Cambridge Street/Oxford Close drainage design improvements
• Louth Road/Glengariff Drive drainage improvements
• Clanmel Road drainage improvements
• Chipping Road, Catesby Street, Felton Street, The Boulevard access road drainage project
• 11-21 Harborne Street drainage project
• Railway Parade/McCourt Street drainage project
• Oceanic Drive - Tullow Road to Bold Park Drive drainage project stage 1
• Ruislip Street - Marlow Street drainage project
Laneway designs:
• Atterton Lane
• Loveridge Lane
• Piper Lane
• Waddington Lane
• Crofts lane
Preparation for future design proposals is underway for some future projects:-
• Grantham/Harborne intersection to help reduce traffic accidents
Black Spot projects at the following sites:
• Oceanic Drive/Bold Park Drive
• Oceanic Drive/Marapana Road
• Cambridge Street/Gregory Street
• Grantham Street/Marlow Street
• Loftus Street/Macewan Street
Cambridge Street - Oxford Close - Green CAT pedestrian improvements: This project involved negotiating and securing $50,000 from Public Transport Authority PTA in order to design and deliver a wider and more expansive protected central median in order to improve pedestrian safety.
40 Town of Cambridge Annual Report 2015-2016
Waste Management The Town provides a comprehensive waste and recycling service designed to make it easy for residents to conserve natural resources and reduce waste destined for landfill. The Town has continued to encourage residents to aim for Maximum Recovery with an overall goal of increasing recycling rates through the kerbside three bin system to achieve the Waste Authority’s target of 65% waste diverted from landfill by 2020.
The Town provides residents with the following waste services: -
• Best practice three bin collection system, weekly landfill and fortnightly recycling and green waste;
• two annual bulk verge and bulk green waste collections;
• weekly on request mattress collection;
• two e-waste drop off days annually;
• two charity donation drop off days annually;
• four recycling drop off points for items that should not go in the kerbside bins; and
• additional recycling collections at Christmas.
Waste Education Campaign The Town’s recycling service has been extremely successful thanks to a commitment to waste minimisation initiatives and education. The Town’s Maximum Recovery campaign demonstrates that we now have a best practice waste collection system and are encouraging residents on how we can achieve Maximum Recovery.
Key focus areas of the Maximum Recovery campaign are:
• Improving the environment by recovering more resources through household recycling;
• Encouraging residents to lead by example and adopt sustainable living as a standard;
• Maximising the amount that can go into the recycling bin; and
• Encouraging behavioural change and perceptions toward recycling.
The Town continues to promote a simplified message about what can go into the recycling bin - anything that is paper, cardboard, metal, glass or plastic.
Mattress Recycling Through the no charge mattress collection program, the Town diverted 1,077 mattresses from landfill this year which translates to approximately 43 tonnes in weight. Mattresses are deconstructed and materials repurposed.
Recycle Stations In September 2015, the Town commissioned four new portable recycle stations for items that should not be placed in the recycling bin. The stations are in place for residents to dispose of fluorescent tubes, light globes, printer cartridges, batteries and mobile phones, and are located at;
• Town of Cambridge Administration
• Cambridge Library
• Wembley Community Centre
• Bold Park Aquatic
Public Space Recycling In October 2015, the Town introduced new dual bin enclosures at City Beach and Floreat Beach. The bins have been well received by beach goers and have added a much needed visual upgrade to the previous wheelie bins which lined our coast. The bins were chosen based on functionality and to fit in with the design of the new surf club development.
Garage Sale Trail On Saturday, 24 October 2015, the Town organised the annual Lake Monger Market. Attendance was estimated to be 3,000 plus and the event had a great community atmosphere. There was entertainment from local choirs and theatre groups, cultural workshops, a variety of waste education and sustainability focused stalls, activities and food vans.
E-Waste Drop-off Days The Town hosts e-waste drop off days twice annually which allows residents to recycle unwanted electronic items such as TVs and computers. The Town diverts an average of 15 tonnes of waste from landfill at each of these events which are held in February and September to coincide with the bulk verge collection.
Charity Drop-off Days At the 26 April 2016, Council resolved to cease support for placement of charity donation bins on public land. The Town, like many other councils, Cambridge has experienced issues with charity donation bins on public land becoming spaces which encourage anti-social behaviour, accumulate litter and instigate illegal dumping. In lieu of Charity donation bins the Town held a Charity Drop-Off Day on Saturday, 11 June 2016 with nearly nine tonnes of clothes, textiles and shoes collected for charity. A steady procession of over 400 cars navigated the Administration Centre car park to donate goods to the participating charities - Vinnies, Salvos, Anglicare, Spine & Limb and Good Sammy’s.
Additional Recycling at Christmas For the past four years the Town has provided residents with three consecutive weeks of recycling over Christmas to help to dispose of the additional waste generated over this period. The program has been well received by residents and contributed to a 4.7% increase in recycling in December 2015.
Better Bins Campaign The Waste Authority allocated a grant of $216,690 to the Town to spend on projects which will add value to our current kerbside collection service.
41Infrastructure
Statistics
At the end of the reporting period the following data was recorded to reflect the Town’s recycling rate compared to historic data and the desired target.
Recy
clin
g Co
llect
ion
(Ton
nes)
Gree
n W
aste
Col
lect
ion
(Ton
nes)
Gene
ral W
aste
Col
lect
ion
(Ton
nes)
Tota
l Col
lect
ion
(Ton
nes)
2009/2010 3,494 9,416 12,910
2010/2011 3,731 8,750 12,481
2011/2012 3,550 532 8,588 12,670
2012/2013 3,543 1,438 7,639 12,620
2013/2014 3,649 1,797 7,210 12,656
2014/2015 3,726 2,148 6,852 12,726
2015/2016 3,803 2,326 6,691 12,820
Change 77 178 -161 94
ParksCambridge has some of Perth’s most beautiful public open spaces, including Lake Monger and Perry Lakes reserves together with City and Floreat beaches. The Town also maintains many active recreational and bushland parks and landscaped road reserves, including street trees.
42 Town of Cambridge Annual Report 2015-2016
Landfill Greenwaste Recycling
Was
te A
utho
rity
2015
Targ
et
50%
50%
Was
te A
utho
rity
2015
Targ
et
65%
35%
2011
-12
4.2 %
28%
67.8%
2012
-13
11.4 %
28.1%
60.5%
2013
-14
14.2 %
28.8%
57%
2014
-15
16.9 %
29.3%
53.8%
2015
-16
18.1 %
29.7%
53.2%
2009
-10
27.1%
72.9%
2010
-11
29.9%
70.1%
100 %
90 %
80 %
70 %
60 %
50 %
40 %
30 %
20 %
10 %
00 %
General ImprovementsThis year works included:-
• Landscape improvements at Floreat Beach Park;
• Completion of final stage of a three stage program to improve the structural integrity of the City Beach Groyne;
• Upgrade of park facilities at Templetonia Park including additional seats, a new drinking fountain and fence;
• Renovation of the turf playing surface at Floreat Oval and Alderbury Sportsground;
• Replacement of shade sails, equipment and sand at various playgrounds.
• Installation of a new basketball/netball facility and resurfacing of the carpark at Grantham Park;
• Installation of a new drinking fountain at Bent Park
• Installation of additional fencing to the boundary of Cowden Park;
• Remarking of carparks at various locations
Lake Monger ReserveThis regional recreation reserve is an important conservation wetland, a significant Aboriginal heritage site and is one of the Town’s most popular destinations for passive and active recreation. The Lake Monger Reserve Management Plan 2008-2018 and its Implementation Program underpin the management of the reserve.
In addition to the day to day maintenance works undertaken to maintain this reserve to a high standard, the following improvements were also completed:-
• Installation of the final stage of LED security lighting along Lake Monger Drive;
• Installation of entry statement signage;
• Arboricultural tree management works including tree planting throughout the reserve to improve biodiversity, safety and long-term viability of trees;
• On-going management of the bird refuge island and the vegetated channel, jointly funded by the City of Vincent and Main Roads WA;
• Continued partnership arrangement with the University of WA to provide water quality monitoring to detect seasonal trends and to predict the lake’s ecological health;
• Lake rehabilitation works were again undertaken on the western edge of the lake as part of the Lake Monger Ecological Restoration Program and included replacement of exotic vegetation with native wetland plants. This was stage three of a six stage program where around 3,000 trees and shrubs were planted;
• The Arbor Day planting event was organised at Lake Monger this year which included local primary school students planting around 300 trees and shrubs.
Perry Lakes ReserveThis regional reserve provides tranquil bushland surroundings for passive and active recreation. It is the perfect spot for a quiet barbecue or to just take a stroll amongst the many local native tree species dotted throughout the reserve. The Perry Lakes Reserve Environmental Management Plan and Implementation Program guide improvement works around the lakes.
This years works included:
• Installation of barbecue/picnic facilities at the south east area adjacent the new playground next to Meagher Drive;
• On-going control within the lake of invasive exotic weed species to improve water quality and biodiversity;
• Arboricultural tree management works to improve safety and long term viability of trees.
Water Conservation PlanThe Town manages its allocated ground water resource for irrigation in accordance with the Water Conservation Plan. Cambridge Council continued to be a leader in its efficient use of water for irrigation.
There are currently 189 hectares under irrigation which are managed using industry best practice methods including:
• Hydrozoning of parks to apply only the required amount of water based on the need and use of the park. A weather station and a central control system ensure continuous monitoring of the weather and only applies irrigation when turf and plants need it;
• Ecozoning of parks to promote biodiversity and conserve water;
• Servicing and replacement of various irrigation bores and pumps including the treatment of selected bores for iron bacteria to maximise their efficiency;
• Monitoring ground water quality from bores to ensure suitability for irrigation;
• Participation in the development of best practices in turf management with other local governments and the University of Western Australia Research Centre;
• Calibration of groundwater flowmeters to ensure their accuracy and compliance with the Department of Water.
Coastal Natural Areas Management PlanIn accordance with this Plan, rehabilitation works, including removal of woody weeds and planting of numerous tube stock plants, specially grown from local provenance seed collected from the local dunes, were undertaken in the Town’s coastal dunes.
These on-going works, undertaken with the assistance of Cambridge Coastcare, aim to improve biodiversity values in the Town’s coastal dunes. Other works included the maintenance of the beach access paths and adjacent fencing to ensure the protection of the coastal dunes.
43Infrastructure
Street Trees Treescape Plan 2010-2020Trees are one of the Town’s most important natural assets and are regarded as critical urban infrastructure. The Town’s street trees are managed in accordance with the Treescape Plan. The purpose of the Plan is to:
• Develop attractive treescapes for every street in the Town;
• Increase the Town’s overall tree canopy area each year;
• Improve the visual appeal of commercial centres; and
• Foster community awareness of the importance of street trees and so create a sense of pride in the quality of streets.
To achieve the purpose of the Plan, Council adopted the Priority Streets and Precinct Streets Planting Programs. These programs aim to achieve entire street improvements and increase street tree numbers from 14,000 to 18,500
by 2024. 2015 saw completion of year three of the planting program with a total 970 trees planted since the program commenced.
Other significant programmed works undertaken included the Ficus Hillii Management Program, The Boulevard Pine Trees Management Program and the Phoenix Palm Management Program.
Park Trees and Landscape ImprovementsParks and gardens in the Town are some of the most beautiful in Perth. Trees and shrubs growing in these areas contribute to making up the Town’s urban forest. A significant amount of minor tree and shrubs works are undertaken on a day to day basis within the Town’s parks to keep these assets alive, healthy and safe.
44 Town of Cambridge Annual Report 2015-2016
375number of trees to
plant per year
359trees planted
in year two (2014)
355trees planted
in year one (2013)
256trees planted
in year three (2015)
400
350
300
250
200
150
100
50
0
Street Tree Planting Program Results / Targets
14,000tree numbers prior to commencing of tree
planting programs
4,500proposed increase
in tree numbers
18,500tree numbers estimated at
completion of programs in 2024 (12 years)
total trees planted year to date 2015
970
20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
Garden Awards 2015The 20th annual Garden Awards were held in November 2015� The awards were established in 1996 to recognise front gardens, inclusive of the verge, within the Town that are well maintained, aesthetically pleasing and contribute to the Streetscape�
All gardens considered for an award must be visible from the road and comply with the spirit of the Town’s Road Verge Landscaping and Maintenance Policy� The judging panel looks for well-maintained verge and private property front gardens, including those that require minimal water use�
The following were awarded:
45Infrastructure
Highly Commended Water Wise Front Garden 9 Arbordale Street, Floreat
Best Residential Front Garden27 Keane Street, Wembley
Highly Commended Residential Front Garden 13 Turriff, Floreat
Best Water Wise Front Garden 34 Peebles Road, Floreat
Best Commercial/Group Housing Front Garden 24 Salvado Road, Wembley
Highly Commended Commercial/Group Housing Front Garden - 85 Reserve Street, Wembley
Elected Member ConductSection 5.121 of the Local Government Act 1995 requires that local governments maintain a register of complaints that result in action under Section 5.110(6) (b) or (c). There was no breach allegations lodged during the financial year.
Major Land Transactions
Perry Lakes Redevelopment ProjectThe State Government assumed control of the Perry Lakes Redevelopment project in 2005 after passing the Perry Lakes Redevelopment Act 2005 (the Act). At the completion of the project, the Town of Cambridge was owed $50 million which as per the Act can be paid in cash, land or a combination of cash and land.
In May 2015, the Town received a report from the Minister for Planning on the proposed settlement with the State Government on the Perry Lakes Redevelopment as follows;
• The settlement of the $50 million is to be made through a combination of land and cash;
• The three apartments sites (lots 231, 232 and 233) will be transferred to the Town by 30 June 2015;
• The Valuer General will assess the value of the land in accordance with the requirements of the Act (section 4(3) (b));
• The balance (i.e. $50 million less the land value) will be paid to the Town in cash in the 2016/17 financial year; and
Statutory Compliance and Civic Responsibilities
• Both the MRS (Currently zoned Urban Deferred) and the Town’s planning scheme will need to be amended to “normalise” the development controls over the land prior to the final payment being made to the Town.
The transfer of the three apartments sites, valued at $27.4 million (ex GST), subsequently occurred on the 21 July 2015. The remaining balance of $22.6 million is to be paid in cash during the 2016/17 financial year. The Council at its August 2015 Council meeting decided to sell lot 232, 1 Meagher Drive and lot 233, 29 Stadium Drive by way of tender. In December 2015, Lots 232 and 233 were sold for $19.5 million (ex GST) and are to be settled in January 2017.
Former Nursery Site Redevelopment (Parkside Walk Jolimont)In 2012, the Town prepared a business plan for the development of freehold land owned by the Town, commonly known as the Former Nursery site located in Salvado Road, Jolimont. The site is approximately 3.9 Ha.
Following public submissions on the business plan, the Town entered into a contract for the sale of the Land with Landcorp. The contract provided for an initial payment to the Town of $5 million and the remaining payment to be provided via a single payment once the land was valued or deferred payments as the land is sold in individual lots after the subdivision.
During the year, the Council determined that it will receive the balance of the consideration as deferred contingent consideration. Subsequently, the land was transferred to LandCorp to prepare the outline development plan and seek
46 Town of Cambridge Annual Report 2015-2016
approval from Western Australian Planning Commission in accordance with the agreement.
The business plan contemplates sales of $40 million, development costs and selling expenses of $10 million and a net return of $30 million. The Town’s share of this notional amount is 60% or $18 million, of which $5 million has already been received.
Exempt Land Transactions There were no exempt land transactions undertaken during the 2015/2016 financial year.
Statutory Compliance
Freedom of Information Act (1992)The Town complies with the Freedom of Information Act 1992. The Town’s Freedom of Information Statement, reviewed in November 2013 in accordance with provisions of the Act, is available on the website for public inspection.
Six valid Freedom of Information applications were received during the 2015/2016 period. Seven applications, including one carried over from the previous calendar year, were finalised during this period. Of the seven requests, two applicants received edited access, three received full access, another was refused access, and one withdrew their request.
Compliance with the State Records ActThe Town complies with the State Records Act 2000. The Town’s Record Keeping Plan, a requirement of the Act, is in its third revision. It was given a five year approval by the State Records Commission on 31 May 2013.
All communications to and from the Town are registered into the corporate electronic document management system ensuring an important information source is secure and accessible to all staff. Incoming correspondence registration and response is monitored by progress reports generated at the end of each month from the document management system. During the last financial year staff registered a total of 158,065 documents to the corporate system.
New employees are provided with in-house assistance to ensure they understand their record keeping obligations and responsibilities. Records management support is available to all staff through regularly updated user guides and manuals on the Town’s intranet, and from experienced administration staff. Systems are also in place to record Elected Member emails.
National Competition PolicyNational Competition Policy is a whole of government approach to bring about reform in the public sector to encourage government to become more competitive. Local government is affected mainly where it operates significant business activities, which compete or could compete with private enterprise and where local laws unnecessarily affect competition.
Competitive NeutralityThis principle deals with ensuring that government business operations do not have any advantage or disadvantage in comparison to the private sector. In the period under notice, no activities undertaken by the Town were classified as either a Public Trading Enterprise or a Public Financial Enterprise. During the reporting period no allegations of non-compliance with the principles of Competitive Neutrality were received.
Bold Park Aquatic Centre SUMMARY 2015/2016Operational Revenues 1,147,699Operational Expenses 1,936,321Notional Return (788,622)Less Advantages (1,473,315)Plus Disadvantages 123,977Non Commercial Services (2,137,959)
Wembley Golf Course SUMMARY 2015/2016Operational Revenues 6,908,375Operational Expenses 6,116,315Notional Return 792,060Less Advantages (934,941)Plus Disadvantages 325,150Estimated Return 182,269
Local LawsThe Local Government Act 1995 requires all of the Town’s Local Laws be reviewed every eight years. Local Laws are also revised periodically on a needs basis. As part of this process Local Law amendments are assessed against National Competition Policy principles where appropriate. The process of reviewing the Local Laws was undertaken in 2015/2016.
Employees RemunerationNumber of employees of the Council, in bands of $10,000, entitled to an annual cash salary of $100,000 or more. (Council)
Salary Range 30 June 2015
30 June 2016
$100,000 - $109,999 7 3
$110,000 - $119,999 5 6
$120,000 - $129,999 2
$130,000 - $139,999 1
$150,000 - $159,999 1 1
$160,000 - $169,999 4 2
$170,000 - $179,999 2
$180,000 - $189,999 1 1*
$230,000 - $239,999 1
$240,000 - $249,999 1
19 19
* Temporary appointment
The annual cash salary, as outlined above, is exclusive of superannuation, car allowances and any other form of allowance or payments made to employees as part of their remuneration.
47Statutory Compliance and Civic Responsibilities
Our logo is representative of what makes the Town of Cambridge unique� Thoughtfully produced, the logo contains elements and colours which are quintessentially West Australian and relevant to the Cambridge lifestyle�
• The swan represents our state of Western Australia, and in particular our very own Lake Monger�
• The graceful arc of the swan’s neck, integrated with the letter C symbolises the Town of Cambridge�
• The Swan is centred in a diamond that indicates prosperity�
• The upper green triangle denotes our beautiful parks with the peak representing Reabold Hill�
• The lower blue triangle represents our ocean and lakes�
• On a broader scale, the colours of blue and green represent strength and reliability�
Although contemporary in design, the Town’s logo retains a classic appeal�
The Town of Cambridge, in Perth’s western suburbs, is located about eight kilometres from Perth CBD�
Cambridge, once an ancient land covered by water, has the limestone ridges and outcrops which over time have formed some of the Town’s most spectacular features including Bold Regional Park, Lake Monger and the Quarry Amphitheatre�
Today, Cambridge covers 22 square kilometres and has a population of 28,250 (ABS ERP 2015)� There are over 10,000 residential properties in the Town, which is noted for its regional parks and recreational, sporting and outdoor lifestyle�
Formed on 1 July 1994, after the State Government restructured the former City of Perth, the Town is named after Cambridge University in England� It is bordered by the cities of Vincent, Perth, Subiaco Nedlands and Stirling and contains the suburbs of City Beach, Floreat, Wembley, West Leederville, and parts of Jolimont, Mount Claremont and Wembley Downs�
The Town is home to many places of interest, including Lake Monger Reserve, Bold Regional Park, Wembley Golf Course, City Beach, Floreat Beach, Bold Park Aquatic Centre, Perry Lakes Reserve and the Quarry Amphitheatre�
About our Town
Our logo
Town of Cambridge Annual Report 2015-201648
SQUARE KILOMETRESAREA 22
ESTABLISHED 1 JULY 1994
ABS ERP 2015
POPULATION 28,250
as at October 2015 Elections
NUMBER OF ELECTORS 17,856
as at 30 June 2016
RATEABLE PROPERTIES 11,265
NUMBER OF WARDS 2WEMBLEY
AND COAST
NUMBER OF ELECTED
MEMBERS 1MAYOR
8 COUNCILLORS
49About our Town
AREA OF PARKS, GARDENS AND
RESERVES HECTARES474 LAKE MONGER, PERRY LAKES, REABOLD HILL, BOLD PARK,
CITY BEACH, FLOREAT BEACH, QUARRY AMPHITHEATRE,
WEMBLEY GOLF COURSE (36 HOLES); BOLD PARK AQUATIC,
PERRY LAKES SKATE PARK
Tourist Attractions
COMMERCIAL SHOPPING AREAS, MEDICAL SERVICES
Local Industry
BEACHES AND COASTAL
DUNES KILOMETRES4.5
LENGTH OF SEALED ROADS KILOMETRES194
NUMBER OF EMPLOYEES 30 JUNE 2016197
DISTANCE FROM PERTH
KILOMETRES WEST OF THE PERTH GPO8
SUBURBS AND LOCALITIES
CITY BEACH, FLOREAT, WEMBLEY, WEST LEEDERVILLE, AND PARTS OF JOLIMONT, MOUNT CLAREMONT, DAGLISH AND WEMBLEY DOWNS8
5BOUNDARIES
CITIES OF VINCENT, STIRLING, PERTH, NEDLANDS AND SUBIACO
$43,5 MOPERATING REVENUE
$44,1 MOPERATING EXPENDITURE
$31 MCAPITAL EXPENDITURE
2015/2016 actual
2015/2016 actual
2015/2016 actual
2015/2016 actual
$23,5 MRATE REVENUE
51Annual Financial Report
Independent Auditor’s Report � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 52
Statement of Chief Executive Officer � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 53
Statement of Comprehensive Income by Program � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 54
Statement of Comprehensive Income by Nature or Type � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 55
Statement of Financial Position � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 56
Statement of Changes in Equity � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 57
Statement of Cash Flows � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 58
Rate Setting Statement � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 59
Notes to and Forming Part of the Financial Report � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 60
Note 1: Significant Accounting Policies � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 60
Note 2: Component Functions/Activities � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 68
Note 3: Assets Classified by Function And Activity � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 68
Note 4: Depreciation � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 69
Note 5: Conditions Over Contributions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 69
Note 6: Trade And Other Receivables � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 70
Note 7: Other Assets � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 70
Note 8: Inventories � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 70
Note 9: Cash and Cash Equivalents � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 70
Note 10: Trade and Other Payables � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 71
Note 11: Provisions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 71
Note 12: Borrowings � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 71
Note 13: Property, Plant and Equipment, Infrastructure Assets � � � � � � � � � � � � � � � � � � � � 74
Note 14: Reserves and Cambridge endowment account � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 77
Note 15: Asset Revaluation Surplus � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 79
Note 16: Notes to the Statement of Cash Flows � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 79
Note 17: Superannuation � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 80
Note 18: Contingent Liabilities � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 80
Note 19: Capital and Leasing Commitments � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 80
Note 20: Fees and Charges Program � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 80
Note 21: Grants, Subsidies and Contributions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 82
Note 22: Disposal of Assets and Land Held For Resale � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 82
Note 23: Statement of Rating Information � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 83
Note 24: Trust Funds � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 84
Note 25: Employee Numbers � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 84
Note 26: Members of Council Remuneration � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 84
Note 27: Subsequent Events � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 84
Note 28: Major Land Transactions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 85
Note 29: Major Trading Undertaking � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 85
Note 30: Other Financial Assets � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 87
Note 31: Investment In Regional Councils – Joint Venture � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 87
Note 32: Budget Comparison – Non-Operating � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 89
Note 33: Economic Dependency � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 89
Note 34: Financial Risk Management � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 89
Note 35: Auditors Remuneration � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 92
Note 36: Financial Ratios of Accounts � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 92
52 Town of Cambridge Annual Report 2015-2016
IND
EPEN
DEN
T AU
DIT
OR’
S RE
PORT
IND
EPEN
DEN
T AU
DIT
OR’
S RE
PORT
(CO
NTI
NU
ED)
Leve
l 1
10 K
ings P
ark R
oad
Wes
t Per
th W
A 60
05
Corre
spon
denc
e to:
PO
Box
570
Wes
t Per
th W
A 68
72
T +6
1 8 94
80 20
00
F +6
1 8 93
22 77
87
E inf
o.wa@
au.gt
.com
W
www
.gran
tthor
nton.c
om.au
Gran
t Tho
rnton
Aud
it Pty
Ltd A
CN 13
0 913
594
a sub
sidiar
y or r
elated
entity
of G
rant
Thor
nton A
ustra
lia Lt
d ABN
41 12
7 556
389
‘Gra
nt Th
ornto
n’ re
fers t
o the
bran
d und
er w
hich t
he G
rant
Thor
nton m
embe
r firm
s pro
vide a
ssur
ance
, tax a
nd ad
visor
y ser
vices
to th
eir cl
ients
and/o
r refe
rs to
one o
r mor
e mem
ber f
irms,
as th
e co
ntext
requ
ires.
Gran
t Tho
rnton
Aus
tralia
Ltd i
s a m
embe
r firm
of G
rant
Thor
nton I
ntern
ation
al Ltd
(GTI
L). G
TIL a
nd th
e mem
ber f
irms a
re no
t a w
orldw
ide pa
rtner
ship.
GTI
L and
each
mem
ber f
irm
is a s
epar
ate le
gal e
ntity.
Ser
vices
are d
elive
red b
y the
mem
ber f
irms.
GTIL
does
not p
rovid
e ser
vices
to cl
ients.
GTI
L and
its m
embe
r firm
s are
not a
gents
of, a
nd do
not o
bliga
te on
e ano
ther a
nd
are n
ot lia
ble fo
r one
anoth
er’s
acts
or om
ission
s. In
the A
ustra
lian c
ontex
t only
, the u
se of
the t
erm
‘Gra
nt Th
ornto
n’ ma
y refe
r to G
rant
Thor
nton A
ustra
lia Li
mited
ABN
41 12
7 556
389
and i
ts Au
strali
an su
bsidi
aries
and r
elated
entiti
es. G
TIL i
s not
an A
ustra
lian r
elated
entity
to G
rant
Thor
nton A
ustra
lia Li
mited
. Lia
bility
limite
d by a
sche
me ap
prov
ed un
der P
rofes
siona
l Stan
dard
s Leg
islati
on. L
iabilit
y is l
imite
d in t
hose
Stat
es w
here
a cu
rrent
sche
me ap
plies
. In
depe
nden
t A
udit
or’s
Rep
ort
T
o th
e R
atep
ayer
s of
Tow
n of
Cam
brid
ge
We
have
aud
ited
the
acco
mpa
nyin
g fin
ancia
l rep
ort o
f Tow
n of
Cam
brid
ge (t
he “
Tow
n”),
whi
ch c
ompr
ises t
he st
atem
ent o
f fin
ancia
l pos
ition
as a
t 30
June
201
6, a
nd th
e st
atem
ent o
f pr
ofit
or lo
ss a
nd o
ther
com
preh
ensiv
e in
com
e by
pro
gram
, sta
tem
ent o
f pro
fit o
r los
s and
ot
her c
ompr
ehen
sive
inco
me
by n
atur
e or
type
, sta
tem
ent o
f cha
nges
in e
quity
and
st
atem
ent o
f cas
h flo
ws f
or th
e ye
ar th
en e
nded
, not
es c
ompr
ising
a su
mm
ary
of si
gnifi
cant
ac
coun
ting
polic
ies a
nd o
ther
exp
lanat
ory
info
rmat
ion
to th
e fin
ancia
l rep
ort a
nd th
e st
atem
ent b
y th
e Ch
ief E
xecu
tive
Offi
cer.
Res
pons
ibili
ty o
f th
e C
ounc
il fo
r th
e fi
nanc
ial r
epor
t Th
e Co
uncil
of t
he T
own
of C
ambr
idge
is re
spon
sible
for t
he p
repa
ratio
n an
d fa
ir pr
esen
tatio
n of
the
finan
cial r
epor
t in
acco
rdan
ce w
ith A
ustra
lian
Acc
ount
ing
Stan
dard
s (in
cludi
ng th
e A
ustra
lian
Acc
ount
ing
Inte
rpre
tatio
ns) a
nd th
e Lo
cal G
over
nmen
t Act
199
5 Pa
rt 6.
Thi
s res
pons
ibili
ty in
clude
s suc
h in
tern
al co
ntro
ls as
the
Coun
cil d
eter
min
e ar
e ne
cess
ary
to e
nabl
e th
e pr
epar
atio
n of
the
finan
cial r
epor
t to
be fr
ee fr
om m
ater
ial
miss
tate
men
t, w
heth
er d
ue to
frau
d or
err
or.
Aud
itor
’s r
espo
nsib
ility
O
ur re
spon
sibili
ty is
to e
xpre
ss a
n op
inio
n on
the
finan
cial r
epor
t bas
ed o
n ou
r aud
it. W
e co
nduc
ted
our a
udit
in a
ccor
danc
e w
ith A
ustra
lian
Aud
iting
Sta
ndar
ds w
hich
requ
ire u
s to
com
ply
with
relev
ant e
thica
l req
uire
men
ts re
latin
g to
aud
it en
gage
men
ts a
nd p
lan a
nd
perf
orm
the
audi
t to
obta
in re
ason
able
assu
ranc
e w
heth
er th
e fin
ancia
l rep
ort i
s fre
e fr
om
mat
erial
miss
tate
men
t.
An
audi
t inv
olve
s per
form
ing
proc
edur
es to
obt
ain a
udit
evid
ence
abo
ut th
e am
ount
s and
di
sclo
sure
s in
the
finan
cial r
epor
t. T
he p
roce
dure
s sele
cted
dep
end
on th
e au
dito
r’s
judg
emen
t, in
cludi
ng th
e as
sess
men
t of t
he ri
sks o
f mat
erial
miss
tate
men
t of t
he fi
nanc
ial
repo
rt, w
heth
er d
ue to
frau
d or
err
or.
In m
akin
g th
ose
risk
asse
ssm
ents
, the
aud
itor c
onsid
ers i
nter
nal c
ontro
l rele
vant
to th
e To
wn’
s pre
para
tion
and
fair
pres
enta
tion
of th
e fin
ancia
l rep
ort i
n or
der t
o de
sign
audi
t pr
oced
ures
that
are
app
ropr
iate
in th
e cir
cum
stan
ces,
but n
ot fo
r the
pur
pose
of e
xpre
ssin
g an
opi
nion
on
the
effe
ctiv
enes
s of t
he e
ntity
’s in
tern
al co
ntro
l. A
n au
dit a
lso in
clude
s ev
aluat
ing
the
appr
opria
tene
ss o
f acc
ount
ing
polic
ies u
sed
and
the
reas
onab
lenes
s of
acco
untin
g es
timat
es m
ade
by th
e Co
uncil
, as w
ell a
s eva
luat
ing
the
over
all p
rese
ntat
ion
of
the
finan
cial r
epor
t.
We
perf
orm
ed th
e pr
oced
ures
to a
sses
s whe
ther
in a
ll m
ater
ial re
spec
ts th
e fin
ancia
l rep
ort
pres
ents
fairl
y, in
acc
orda
nce
with
the
Loca
l Gov
ernm
ent A
ct 1
995
Part
6 an
d A
ustra
lian
Acc
ount
ing
Stan
dard
s (in
cludi
ng th
e A
ustra
lian
Acc
ount
ing
Inte
rpre
tatio
ns),
a vi
ew w
hich
is
cons
isten
t with
our
und
erst
andi
ng o
f the
Tow
n of
Cam
brid
ge’s
finan
cial p
ositi
on a
nd o
f th
eir p
erfo
rman
ce.
We
belie
ve th
at th
e au
dit e
vide
nce
we
have
obt
ained
is su
ffici
ent a
nd a
ppro
priat
e to
pro
vide
a
basis
for o
ur a
udit
opin
ion.
Inde
pend
ence
In
con
duct
ing
our a
udit,
we
have
com
plied
with
the
appl
icabl
e in
depe
nden
ce re
quire
men
ts
of th
e A
ccou
ntin
g Pr
ofes
siona
l and
Eth
ical S
tand
ards
Boa
rd.
Aud
itor
’s O
pini
on
In o
ur o
pini
on, t
he fi
nanc
ial re
port
of T
own
of C
ambr
idge
i pr
esen
ts fa
irly,
in a
ll m
ater
ial re
spec
ts, t
he T
own
of C
ambr
idge
’s fin
ancia
l pos
ition
as
at 3
0 Ju
ne 2
016
and
of it
s per
form
ance
and
cas
h flo
ws f
or th
e ye
ar th
en e
nded
; an
d
ii co
mpl
ies w
ith A
ustra
lian
Acc
ount
ing
Stan
dard
s (in
cludi
ng th
e A
ustra
lian
Acc
ount
ing
Inte
rpre
tatio
ns);
and
iii
is pr
epar
ed in
acc
orda
nce
with
the
requ
irem
ents
of t
he L
ocal
Gov
ernm
ent A
ct 1
995
Part
6 (a
s am
ende
d) a
nd R
egul
atio
ns u
nder
that
Act
.
53Independent Auditor’s Report
IND
EPEN
DEN
T AU
DIT
OR’
S RE
PORT
(CO
NTI
NU
ED)
Sta
tuto
ry C
ompl
ianc
e I d
id n
ot, d
urin
g th
e co
urse
of m
y au
dit,
beco
me
awar
e of
any
inst
ance
whe
re th
e Co
uncil
di
d no
t com
ply
with
the
requ
irem
ents
of t
he L
ocal
Gov
ernm
ent A
ct 1
995
and
Loca
l G
over
nmen
t (Fi
nanc
ial M
anag
emen
t) Re
gulat
ions
199
6 as
they
relat
e to
the
finan
cial
stat
emen
ts.
GRA
NT
THO
RNTO
N A
UD
IT P
TY L
TD
Char
tere
d A
ccou
ntan
ts
M J
Hill
grov
e Pa
rtner
- A
udit
& A
ssur
ance
Pe
rth, 2
5 O
ctob
er 2
016
STAT
EMEN
T O
F CH
IEF
EXEC
UTI
VE O
FFIC
ER
STAT
EMEN
T BY
CH
IEF
EXEC
UTI
VE O
FFIC
ER
The
atta
ched
fina
ncia
l rep
ort o
f the
Tow
n of
Cam
brid
ge, b
eing
th
e an
nual
fina
ncia
l rep
ort a
nd s
uppo
rtin
g no
tes
and
othe
r in
form
atio
n fo
r the
fina
ncia
l yea
r end
ed 3
0 Ju
ne 2
016,
are
, in
my
opin
ion,
pro
perly
dra
wn
up to
pre
sent
fairl
y th
e fi
nanc
ial p
ositi
on
of th
e To
wn
of C
ambr
idge
at 3
0 Ju
ne 2
016
and
the
resu
lts o
f its
op
erat
ions
for t
he fi
nanc
ial y
ear t
hen
ende
d in
acc
orda
nce
with
the
Aus
tral
ian
Acc
ount
ing
Stan
dard
s an
d co
mpl
y w
ith th
e pr
ovis
ions
of
the
Loca
l Gov
ernm
ent A
ct 1
995
and
the
regu
latio
ns u
nder
that
Act
.
Sign
ed o
n th
e da
te 2
5th
Oct
ober
201
6
JASO
N B
UCK
LEY
CHIE
F EX
ECU
TIVE
OFF
ICER
Note
2016
Actu
al $
2016
Budg
et $
2015
Actu
al $
REVE
NUE
Gene
ral P
urpo
se F
undi
ng 2
5,06
7,82
5 2
5,02
3,00
0 2
5,43
3,07
6
Gove
rnan
ce 1
22,7
91
75,
000
121
,179
Law,
Ord
er a
nd P
ublic
Saf
ety
145
,764
1
28,5
00
164
,628
Heal
th 9
9,85
1 7
1,50
0 7
7,87
0
Educ
atio
n an
d W
elfa
re 1
,128
,634
1
,142
,500
1
,100
,978
Com
mun
ity A
men
ities
2,7
03,7
18
2,7
29,0
00
2,8
17,3
68
Recr
eatio
n an
d Cu
lture
9,5
16,2
29
9,5
68,0
00
9,1
81,7
33
Tran
spor
t 2
,223
,307
2
,193
,000
2
,148
,117
Econ
omic
Serv
ices
440
,552
5
60,0
00
500
,544
Othe
r Pro
perty
and
Ser
vices
2,0
51,2
46
1,3
74,0
00
220
,529
43,
499,
917
42,
864,
500
41,
766,
022
Expe
nses
Exc
ludi
ng F
inan
ce C
osts
Gene
ral P
urpo
se F
undi
ng 6
23,5
07
595
,000
5
75,7
35
Gove
rnan
ce 1
,799
,172
1
,783
,500
1
,756
,704
Law,
Ord
er a
nd P
ublic
Saf
ety
1,7
39,2
17
1,6
56,0
00
1,4
35,8
64
Heal
th 5
53,2
60
531
,000
5
68,0
40
Educ
atio
n an
d W
elfa
re 1
,775
,772
1
,743
,500
1
,723
,323
Com
mun
ity A
men
ities
6,3
44,4
04
6,4
27,0
00
5,8
84,8
99
Recr
eatio
n an
d Cu
lture
18,
493,
704
18,
880,
500
17,
334,
329
Tran
spor
t 8
,764
,699
7
,657
,000
8
,221
,307
Econ
omic
Serv
ices
574
,200
6
19,5
00
551
,212
Othe
r Pro
perty
and
Ser
vices
2,9
67,6
58
2,6
52,5
00
2,5
62,5
03
43,
635,
593
42,
545,
500
40,
613,
916
Fina
nce
Cost
sGo
vern
ance
2,1
79
2,5
00
3,4
00
Recr
eatio
n an
d Cu
lture
435
,565
4
48,0
00
400
,165
Othe
r Pro
perty
and
Ser
vices
47,
264
53,
500
39,
420
12
485
,008
5
04,0
00
442
,985
Oper
atin
g Re
sult
(620
,684
) (1
85,0
00)
709
,121
Note
2016
Actu
al $
2016
Budg
et $
2015
Actu
al $
Gran
ts a
nd S
ubsi
dies
- No
n Op
erat
ing
Law,
Ord
er a
nd P
ublic
Saf
ety
525
,000
5
25,0
00
1,3
75,0
00
Educ
atio
n an
d W
elfa
re -
10,
000
6,6
46
Com
mun
ity A
men
ities
190
,000
2
76,0
00
562
,572
Recr
eatio
n an
d Cu
lture
959
,013
1
,770
,500
3
74,0
90
Tran
spor
t 1
,435
,493
2
,219
,500
1
,113
,013
Othe
r Pro
perty
and
Ser
vices
27,
363,
636
- -
21
30,
473,
142
4,8
01,0
00
3,4
31,3
21
Disp
osal
of A
sset
sGa
in o
n Di
spos
al o
f Ass
ets
4,7
42,3
79
2,6
27,0
00
6,2
61,9
80
Loss
on
Disp
osal
of A
sset
s (2
84,4
85)
(138
,500
) (1
,054
,164
)
22
4,4
57,8
94
2,4
88,5
00
5,2
07,8
16
Chan
ge in
Equ
ity -
Join
t Ven
ture
sOt
her P
rope
rty a
nd S
ervic
es 3
1 2
56,6
23
- 2
,681
,147
Fair
Valu
e Ad
just
men
ts to
Fin
anci
al A
sset
s at
fa
ir va
lue
thro
ugh
profi
t or
loss
Gene
ral P
urpo
se F
undi
ng 3
0 (4
5,95
9) -
88,
720
Decr
emen
t on
Reva
luat
ion
of A
sset
sOt
her P
rope
rty a
nd S
ervic
es 1
3 (1
30,9
13)
- -
NET
RESU
LT 3
4,39
0,10
3 7
,104
,500
1
2,11
8,12
5
Othe
r Com
preh
ensi
ve In
com
eCh
ange
s on
reva
luat
ion
of n
on c
urre
nt a
sset
s 1
5 (3
,643
,301
) -
22,
697,
765
TOTA
L CO
MPR
EHEN
SIVE
INCO
ME
30,
746,
802
7,1
04,5
00
34,
815,
890
STAT
EMEN
T O
F CO
MPR
EHEN
SIVE
INCO
ME
BY P
ROG
RAM
FOR
THE
YEA
R EN
DED
30
JUN
E 20
16
This
Sta
tem
ent s
houl
d be
read
in c
onju
ncti
on w
ith
the
acco
mpa
nyin
g no
tes.
54 Town of Cambridge Annual Report 2015-2016
Note
2016
Actu
al $
2016
Budg
et $
2015
Actu
al $
Reve
nue
Rate
s23
23,
470,
651
23,
396,
500
22,
194,
672
Oper
atin
g Gr
ants
, Sub
sidie
s an
d Co
ntrib
utio
ns21
2,3
01,0
28
2,5
53,5
00
3,3
71,2
07
Fees
& C
harg
es20
15,
175,
626
15,
532,
500
13,
938,
796
Inte
rest
Ear
ning
s 1
,048
,765
1
,057
,000
1
,682
,682
Othe
r Rev
enue
/Inco
me
1,5
03,8
47
325
,000
5
78,6
65
43,
499,
917
42,
864,
500
41,
766,
022
Expe
nses
Exc
ludi
ng F
inan
ce C
osts
Empl
oyee
Cos
ts 1
8,23
2,75
2 1
7,89
3,10
0 1
6,90
7,45
3 M
ater
ials
& Co
ntra
cts
14,
955,
806
14,
767,
800
14,
202,
022
Utilit
ies
1,5
60,7
22
1,7
40,3
00
1,4
87,3
58
Insu
ranc
e 4
18,0
66
509
,500
4
68,3
45
Othe
r Exp
endi
ture
672
,175
6
40,8
00
640
,722
Depr
ecia
tion
on N
on-c
urre
nt A
sset
s4
7,7
96,0
72
6,9
94,0
00
6,9
08,0
16
43,
635,
593
42,
545,
500
40,
613,
916
Fina
nce
Cost
s
Inte
rest
Exp
ense
s12
485
,008
5
04,0
00
442
,985
485
,008
5
04,0
00
442
,985
Oper
atin
g Re
sult
(620
,684
) (1
85,0
00)
709
,121
Note
2016
Actu
al $
2016
Budg
et $
2015
Actu
al $
Non
Oper
atin
g Gr
ants
, Sub
sidi
es21
30,
473,
142
4,8
01,0
00
3,4
31,3
21
and
Cont
ribut
ions
Disp
osal
of A
sset
sGa
in o
n Di
spos
al o
f Ass
ets
4,7
42,3
79
2,6
27,0
00
6,2
61,9
80
Loss
on
Disp
osal
of A
sset
s (2
84,4
85)
(138
,500
) (1
,054
,164
)
22 4
,457
,894
2
,488
,500
5
,207
,816
Chan
ge In
Equ
ity -
Join
t Ven
ture
s31
256
,623
-
2,6
81,1
47
Fair
Valu
e Ad
just
men
ts to
Fin
anci
al A
sset
s at
fa
ir va
lue
thro
ugh
profi
t or
loss
30 (4
5,95
9) -
88,
720
Decr
emen
t on
Reva
luat
ion
of A
sset
s13
(130
,913
) -
-
NET
RESU
LTS
34,
390,
103
7,1
04,5
00
12,
118,
125
Chan
ges
on re
valu
atio
n of
non
cur
rent
ass
ets
15 (3
,643
,301
) -
22,
697,
765
TOTA
L CO
MPR
EHEN
SIVE
INCO
ME
30,
746,
802
7,1
04,5
00
34,
815,
890
STAT
EMEN
T O
F CO
MPR
EHEN
SIVE
INCO
ME
BY N
ATU
RE O
R TY
PE FO
R TH
E YE
AR
END
ED 3
0 JU
NE
2016
This
Sta
tem
ent s
houl
d be
read
in c
onju
ncti
on w
ith
the
acco
mpa
nyin
g no
tes.
Note
2016
Actu
al $
2016
Budg
et $
2015
Actu
al $
REVE
NUE
Gene
ral P
urpo
se F
undi
ng 2
5,06
7,82
5 2
5,02
3,00
0 2
5,43
3,07
6
Gove
rnan
ce 1
22,7
91
75,
000
121
,179
Law,
Ord
er a
nd P
ublic
Saf
ety
145
,764
1
28,5
00
164
,628
Heal
th 9
9,85
1 7
1,50
0 7
7,87
0
Educ
atio
n an
d W
elfa
re 1
,128
,634
1
,142
,500
1
,100
,978
Com
mun
ity A
men
ities
2,7
03,7
18
2,7
29,0
00
2,8
17,3
68
Recr
eatio
n an
d Cu
lture
9,5
16,2
29
9,5
68,0
00
9,1
81,7
33
Tran
spor
t 2
,223
,307
2
,193
,000
2
,148
,117
Econ
omic
Serv
ices
440
,552
5
60,0
00
500
,544
Othe
r Pro
perty
and
Ser
vices
2,0
51,2
46
1,3
74,0
00
220
,529
43,
499,
917
42,
864,
500
41,
766,
022
Expe
nses
Exc
ludi
ng F
inan
ce C
osts
Gene
ral P
urpo
se F
undi
ng 6
23,5
07
595
,000
5
75,7
35
Gove
rnan
ce 1
,799
,172
1
,783
,500
1
,756
,704
Law,
Ord
er a
nd P
ublic
Saf
ety
1,7
39,2
17
1,6
56,0
00
1,4
35,8
64
Heal
th 5
53,2
60
531
,000
5
68,0
40
Educ
atio
n an
d W
elfa
re 1
,775
,772
1
,743
,500
1
,723
,323
Com
mun
ity A
men
ities
6,3
44,4
04
6,4
27,0
00
5,8
84,8
99
Recr
eatio
n an
d Cu
lture
18,
493,
704
18,
880,
500
17,
334,
329
Tran
spor
t 8
,764
,699
7
,657
,000
8
,221
,307
Econ
omic
Serv
ices
574
,200
6
19,5
00
551
,212
Othe
r Pro
perty
and
Ser
vices
2,9
67,6
58
2,6
52,5
00
2,5
62,5
03
43,
635,
593
42,
545,
500
40,
613,
916
Fina
nce
Cost
sGo
vern
ance
2,1
79
2,5
00
3,4
00
Recr
eatio
n an
d Cu
lture
435
,565
4
48,0
00
400
,165
Othe
r Pro
perty
and
Ser
vices
47,
264
53,
500
39,
420
12
485
,008
5
04,0
00
442
,985
Oper
atin
g Re
sult
(620
,684
) (1
85,0
00)
709
,121
Note
2016
Actu
al $
2016
Budg
et $
2015
Actu
al $
Gran
ts a
nd S
ubsi
dies
- No
n Op
erat
ing
Law,
Ord
er a
nd P
ublic
Saf
ety
525
,000
5
25,0
00
1,3
75,0
00
Educ
atio
n an
d W
elfa
re -
10,
000
6,6
46
Com
mun
ity A
men
ities
190
,000
2
76,0
00
562
,572
Recr
eatio
n an
d Cu
lture
959
,013
1
,770
,500
3
74,0
90
Tran
spor
t 1
,435
,493
2
,219
,500
1
,113
,013
Othe
r Pro
perty
and
Ser
vices
27,
363,
636
- -
21
30,
473,
142
4,8
01,0
00
3,4
31,3
21
Disp
osal
of A
sset
sGa
in o
n Di
spos
al o
f Ass
ets
4,7
42,3
79
2,6
27,0
00
6,2
61,9
80
Loss
on
Disp
osal
of A
sset
s (2
84,4
85)
(138
,500
) (1
,054
,164
)
22
4,4
57,8
94
2,4
88,5
00
5,2
07,8
16
Chan
ge in
Equ
ity -
Join
t Ven
ture
sOt
her P
rope
rty a
nd S
ervic
es 3
1 2
56,6
23
- 2
,681
,147
Fair
Valu
e Ad
just
men
ts to
Fin
anci
al A
sset
s at
fa
ir va
lue
thro
ugh
profi
t or
loss
Gene
ral P
urpo
se F
undi
ng 3
0 (4
5,95
9) -
88,
720
Decr
emen
t on
Reva
luat
ion
of A
sset
sOt
her P
rope
rty a
nd S
ervic
es 1
3 (1
30,9
13)
- -
NET
RESU
LT 3
4,39
0,10
3 7
,104
,500
1
2,11
8,12
5
Othe
r Com
preh
ensi
ve In
com
eCh
ange
s on
reva
luat
ion
of n
on c
urre
nt a
sset
s 1
5 (3
,643
,301
) -
22,
697,
765
TOTA
L CO
MPR
EHEN
SIVE
INCO
ME
30,
746,
802
7,1
04,5
00
34,
815,
890
STAT
EMEN
T O
F CO
MPR
EHEN
SIVE
INCO
ME
BY P
ROG
RAM
FOR
THE
YEA
R EN
DED
30
JUN
E 20
16
This
Sta
tem
ent s
houl
d be
read
in c
onju
ncti
on w
ith
the
acco
mpa
nyin
g no
tes.
55Statement of Comprehensive Income
Note
2016
Actu
al $
2015
Actu
al $
CURR
ENT
ASSE
TSCa
sh a
nd C
ash
Equi
vale
nts
917
,186
,154
32,5
44,9
72Tr
ade
and
Othe
r Rec
eiva
bles
61,
965,
335
1,82
0,94
8Ot
her
722
,582
105,
329
Inve
ntor
ies
828
,167
,430
513,
297
Tota
l Cur
rent
Ass
ets
47,3
41,5
0134
,984
,546
NON-
CURR
ENT
ASSE
TSTr
ade
and
Othe
r Rec
eiva
bles
630
0,67
536
1,60
7Pr
oper
ty, P
lant
and
Equ
ipm
ent a
nd In
frast
ruct
ure
1330
4,11
9,80
428
5,14
3,32
3Fi
nanc
ial A
sset
s30
541,
829
641,
707
Inve
stm
ents
319,
520,
230
9,16
3,12
9
Tota
l Non
-Cur
rent
Ass
ets
314,
482,
538
295,
309,
766
TOTA
L AS
SETS
361,
824,
039
330,
294,
312
STAT
EMEN
T O
F FI
NA
NC
IAL
POSI
TIO
N A
S AT
30
JUN
E 20
16
Note
2016
Actu
al $
2015
Actu
al $
CURR
ENT
LIAB
ILIT
IES
Trad
e an
d Ot
her P
ayab
les
106,
644,
755
6,61
8,15
5Pr
ovisi
ons
Curre
nt11
2,64
6,01
92,
421,
762
Borro
win
gs12
1,76
6,81
759
0,48
5
Tota
l Cur
rent
Lia
bilit
ies
11,0
57,5
919,
630,
402
NON-
CURR
ENT
LIAB
ILIT
IES
Prov
ision
s No
n-Cu
rrent
1131
9,24
332
1,69
0
Borro
win
gs12
11,9
82,7
0112
,624
,518
Tota
l Non
-Cur
rent
Lia
bilit
ies
12,3
01,9
4412
,946
,208
TOTA
L LI
ABIL
ITIE
S23
,359
,535
22,5
76,6
10
NET
ASSE
TS33
8,46
4,50
430
7,71
7,70
2
EQUI
TYRe
tain
ed S
urpl
us24
0,95
4,71
019
1,25
1,73
6Re
serv
es -
Cash
/Inve
stm
ent B
acke
d14
7,49
0,43
822
,803
,309
Reva
luat
ion
Surp
lus
1590
,019
,356
93,6
62,6
57
TOTA
L EQ
UITY
338,
464,
504
307,
717,
702
This
Sta
tem
ent s
houl
d be
read
in c
onju
ncti
on w
ith
the
acco
mpa
nyin
g no
tes.
56 Town of Cambridge Annual Report 2015-2016
Note
2016
Actu
al $
2015
Actu
al $
CURR
ENT
ASSE
TSCa
sh a
nd C
ash
Equi
vale
nts
917
,186
,154
32,5
44,9
72Tr
ade
and
Othe
r Rec
eiva
bles
61,
965,
335
1,82
0,94
8Ot
her
722
,582
105,
329
Inve
ntor
ies
828
,167
,430
513,
297
Tota
l Cur
rent
Ass
ets
47,3
41,5
0134
,984
,546
NON-
CURR
ENT
ASSE
TSTr
ade
and
Othe
r Rec
eiva
bles
630
0,67
536
1,60
7Pr
oper
ty, P
lant
and
Equ
ipm
ent a
nd In
frast
ruct
ure
1330
4,11
9,80
428
5,14
3,32
3Fi
nanc
ial A
sset
s30
541,
829
641,
707
Inve
stm
ents
319,
520,
230
9,16
3,12
9
Tota
l Non
-Cur
rent
Ass
ets
314,
482,
538
295,
309,
766
TOTA
L AS
SETS
361,
824,
039
330,
294,
312
STAT
EMEN
T O
F FI
NA
NC
IAL
POSI
TIO
N A
S AT
30
JUN
E 20
16
Note
2016
Actu
al $
2015
Actu
al $
CURR
ENT
LIAB
ILIT
IES
Trad
e an
d Ot
her P
ayab
les
106,
644,
755
6,61
8,15
5Pr
ovisi
ons
Curre
nt11
2,64
6,01
92,
421,
762
Borro
win
gs12
1,76
6,81
759
0,48
5
Tota
l Cur
rent
Lia
bilit
ies
11,0
57,5
919,
630,
402
NON-
CURR
ENT
LIAB
ILIT
IES
Prov
ision
s No
n-Cu
rrent
1131
9,24
332
1,69
0
Borro
win
gs12
11,9
82,7
0112
,624
,518
Tota
l Non
-Cur
rent
Lia
bilit
ies
12,3
01,9
4412
,946
,208
TOTA
L LI
ABIL
ITIE
S23
,359
,535
22,5
76,6
10
NET
ASSE
TS33
8,46
4,50
430
7,71
7,70
2
EQUI
TYRe
tain
ed S
urpl
us24
0,95
4,71
019
1,25
1,73
6Re
serv
es -
Cash
/Inve
stm
ent B
acke
d14
7,49
0,43
822
,803
,309
Reva
luat
ion
Surp
lus
1590
,019
,356
93,6
62,6
57
TOTA
L EQ
UITY
338,
464,
504
307,
717,
702
This
Sta
tem
ent s
houl
d be
read
in c
onju
ncti
on w
ith
the
acco
mpa
nyin
g no
tes.
Note
Reta
ined
Su
rplu
s $
Rese
rves
Ca
sh /
Inve
stm
ent
Back
ed $
Cam
brid
ge
Endo
wm
ent
Land
Acc
ount $
Reva
luat
ion
Surp
lus $
Tota
l Eq
uity
$
Bala
nce
as a
t 1 J
uly
2014
170
,276
,406
4
,041
,162
2
7,61
9,35
2 7
0,96
4,89
2 2
72,9
01,8
12
Net R
esul
t 1
2,11
8,12
5 -
- -
12,
118,
125
Tota
l Oth
er C
ompr
ehen
sive
Inco
me
- -
- 2
2,69
7,76
5 2
2,69
7,76
5
Tran
sfer
from
/(to)
Res
erve
s/EL
A 8
,857
,205
1
,727
,263
(1
0,58
4,46
8) -
-
Bala
nce
as a
t 30
June
201
514
191
,251
,736
5
,768
,425
1
7,03
4,88
4 9
3,66
2,65
7 3
07,7
17,7
02
Net R
esul
t 3
4,39
0,10
3 -
- -
34,
390,
103
Tota
l Oth
er C
ompr
ehen
sive
Inco
me
- -
- (3
,643
,301
) (3
,643
,301
)
Tran
sfer
from
/(to)
Res
erve
s/EL
A 1
5,31
2,87
1 9
65,5
73
(16,
278,
444)
- -
Bala
nce
as a
t 30
June
201
614
240
,954
,710
6
,733
,998
7
56,4
40
90,
019,
356
338
,464
,504
STA T
EMEN
T O
F CH
AN
GES
IN E
QU
ITY
FOR
THE
YEA
R EN
DED
30
JUN
E 20
16
This
Sta
tem
ent s
houl
d be
read
in c
onju
ncti
on w
ith
the
acco
mpa
nyin
g no
tes.
57Statement of Changes in Equity
Note
2016
Actu
al $
2016
Budg
et $
2015
Actu
al $
Cash
Flo
ws
From
Ope
ratin
g Ac
tiviti
esRe
ceip
tsRa
tes
23,
482,
360
23,
396,
500
22,
214,
872
Gran
ts a
nd s
ubsid
ies
and
cont
ribut
ions
(ope
ratin
g) 2
,198
,534
2
,333
,500
2
,932
,639
Se
rvice
cha
rges
- 2
,000
3
,118
Fe
es a
nd c
harg
es
17,
034,
980
15,
744,
500
15,
941,
039
Inte
rest
rece
ived
1,3
93,1
14
1,3
32,5
00
1,8
58,2
78
Good
s an
d Se
rvice
s Tax
Ref
und
2,9
06,4
46
680
,000
2
,330
,156
Ot
her r
even
ue/in
com
e 1
,549
,806
8
82,5
00
661
,794
48,
565,
240
44,
371,
500
45,
941,
896
Paym
ents
Empl
oyee
exp
ense
s (1
7,68
3,54
4) (1
7,72
3,80
0) (1
6,71
1,51
2)M
ater
ials
and
cont
ract
s (2
0,27
2,88
3) (1
4,06
6,20
0) (1
6,77
4,20
3)Ut
ilitie
s (1
,560
,722
) (2
,474
,600
) (1
,487
,358
)In
sura
nce
(418
,066
) (3
84,4
00)
(468
,345
)In
tere
st P
aid
(736
,837
) (7
79,5
00)
(456
,194
)Ot
her e
xpen
ditu
re (7
18,1
34)
(944
,000
) (6
40,7
18)
(41,
390,
186)
(36,
372,
500)
(36,
538,
330)
Net C
ash
Prov
ided
By
Oper
atin
g Ac
tiviti
es16
7,1
75,0
54
7,9
99,0
00
9,4
03,5
66
Cash
Flo
ws
From
Inve
stin
g Ac
tiviti
esRe
ceip
tsGr
ants
/Con
tribu
tions
for d
evel
opm
ent o
f Ass
ets
3,1
09,5
06
4,8
01,0
00
3,4
31,3
21
Repa
ymen
t of i
nves
tmen
ts fr
om Ta
mal
a Pa
rk 1
,249
,999
-
2,5
83,3
34
Proc
eeds
from
Inve
stm
ents
Mat
ured
53,
919
- 7
4,25
8 Sa
le o
f lan
d 3
,188
,965
4
,816
,000
4
,655
,368
Sa
le o
f ext
erna
l pla
nt a
nd e
quip
men
t 2
00,7
75
75,
000
292
,578
7,8
03,1
64
9,6
92,0
00
11,
036,
859
Note
2016
Actu
al $
2016
Budg
et $
2015
Actu
al $
Paym
ents
Purc
hase
of I
nves
tmen
t (3
0,01
4) (2
,983
,000
) (2
1,06
3)Pu
rcha
se o
f Lan
d He
ld fo
r Res
ale
(22,
337)
- (2
6,13
5)Pu
rcha
se o
f Inf
rast
ruct
ure
Asse
ts (5
,843
,928
) (1
2,27
1,00
0) (6
,099
,029
)Pu
rcha
se o
f Lan
d an
d Bu
ildin
gs (1
1,76
1,68
9) (2
3,75
1,00
0) (9
62,1
62)
Purc
hase
of O
ffi ce
Fur
nitu
re a
nd E
quip
men
t (8
25,0
19)
(1,6
12,0
00)
(643
,733
)Pu
rcha
se o
f Ext
erna
l Pla
nt a
nd E
quip
men
t (4
02,3
88)
(1,0
13,5
00)
(637
,107
)W
ork
in p
rogr
ess
13 (1
2,15
1,62
9) (3
,000
,000
) (1
7,87
0,41
9)
(31,
037,
004)
(44,
630,
500)
(26,
259,
648)
Net C
ash
from
/(use
d in
) Inv
estin
g Ac
tiviti
es (2
3,23
3,84
0) (3
4,93
8,50
0) (1
5,22
2,78
9)
Rece
ipts
Proc
eeds
from
bor
row
ing
1,1
25,0
00
2,0
00,0
00
34,
177
Incr
ease
/(Dec
reas
e) in
Dep
osits
and
Bon
ds 1
65,4
53
(100
,000
) (1
32,8
03)
1,2
90,4
53
1,9
00,0
00
(98,
626)
Paym
ents
Repa
ymen
t of b
orro
win
gs (5
90,4
85)
(588
,500
) (1
,138
,925
)
(590
,485
) (5
88,5
00)
(1,1
38,9
25)
Net C
ash
from
/(use
d in
) Fin
anci
ng A
ctiv
ities
699
,968
1
,311
,500
(1
,237
,551
)
Net I
ncre
ase/
(Dec
reas
e) in
Cas
h He
ld (1
5,35
8,81
8) (2
5,62
8,00
0) (7
,056
,774
)
Cash
and
cas
h eq
uiva
lent
s at
the
Begi
nnin
g of
the
Year
32,
544,
972
32,
598,
300
39,
601,
746
Cash
and
cas
h eq
uiva
lent
s at
the
End
of th
e Ye
ar16
17,
186,
154
6,9
70,3
00
32,
544,
972
STAT
EMEN
T O
F CA
SH F
LOW
S FO
R TH
E YE
AR
END
ED 3
0 JU
NE
2016
This
Sta
tem
ent s
houl
d be
read
in c
onju
ncti
on w
ith
the
acco
mpa
nyin
g no
tes.
58 Town of Cambridge Annual Report 2015-2016
Note
2016
Actu
al $
2016
Budg
et $
2015
Actu
al $
Cash
Flo
ws
From
Ope
ratin
g Ac
tiviti
esRe
ceip
tsRa
tes
23,
482,
360
23,
396,
500
22,
214,
872
Gran
ts a
nd s
ubsid
ies
and
cont
ribut
ions
(ope
ratin
g) 2
,198
,534
2
,333
,500
2
,932
,639
Se
rvice
cha
rges
- 2
,000
3
,118
Fe
es a
nd c
harg
es
17,
034,
980
15,
744,
500
15,
941,
039
Inte
rest
rece
ived
1,3
93,1
14
1,3
32,5
00
1,8
58,2
78
Good
s an
d Se
rvice
s Tax
Ref
und
2,9
06,4
46
680
,000
2
,330
,156
Ot
her r
even
ue/in
com
e 1
,549
,806
8
82,5
00
661
,794
48,
565,
240
44,
371,
500
45,
941,
896
Paym
ents
Empl
oyee
exp
ense
s (1
7,68
3,54
4) (1
7,72
3,80
0) (1
6,71
1,51
2)M
ater
ials
and
cont
ract
s (2
0,27
2,88
3) (1
4,06
6,20
0) (1
6,77
4,20
3)Ut
ilitie
s (1
,560
,722
) (2
,474
,600
) (1
,487
,358
)In
sura
nce
(418
,066
) (3
84,4
00)
(468
,345
)In
tere
st P
aid
(736
,837
) (7
79,5
00)
(456
,194
)Ot
her e
xpen
ditu
re (7
18,1
34)
(944
,000
) (6
40,7
18)
(41,
390,
186)
(36,
372,
500)
(36,
538,
330)
Net C
ash
Prov
ided
By
Oper
atin
g Ac
tiviti
es16
7,1
75,0
54
7,9
99,0
00
9,4
03,5
66
Cash
Flo
ws
From
Inve
stin
g Ac
tiviti
esRe
ceip
tsGr
ants
/Con
tribu
tions
for d
evel
opm
ent o
f Ass
ets
3,1
09,5
06
4,8
01,0
00
3,4
31,3
21
Repa
ymen
t of i
nves
tmen
ts fr
om Ta
mal
a Pa
rk 1
,249
,999
-
2,5
83,3
34
Proc
eeds
from
Inve
stm
ents
Mat
ured
53,
919
- 7
4,25
8 Sa
le o
f lan
d 3
,188
,965
4
,816
,000
4
,655
,368
Sa
le o
f ext
erna
l pla
nt a
nd e
quip
men
t 2
00,7
75
75,
000
292
,578
7,8
03,1
64
9,6
92,0
00
11,
036,
859
Note
2016
Actu
al $
2016
Budg
et $
2015
Actu
al $
Paym
ents
Purc
hase
of I
nves
tmen
t (3
0,01
4) (2
,983
,000
) (2
1,06
3)Pu
rcha
se o
f Lan
d He
ld fo
r Res
ale
(22,
337)
- (2
6,13
5)Pu
rcha
se o
f Inf
rast
ruct
ure
Asse
ts (5
,843
,928
) (1
2,27
1,00
0) (6
,099
,029
)Pu
rcha
se o
f Lan
d an
d Bu
ildin
gs (1
1,76
1,68
9) (2
3,75
1,00
0) (9
62,1
62)
Purc
hase
of O
ffi ce
Fur
nitu
re a
nd E
quip
men
t (8
25,0
19)
(1,6
12,0
00)
(643
,733
)Pu
rcha
se o
f Ext
erna
l Pla
nt a
nd E
quip
men
t (4
02,3
88)
(1,0
13,5
00)
(637
,107
)W
ork
in p
rogr
ess
13 (1
2,15
1,62
9) (3
,000
,000
) (1
7,87
0,41
9)
(31,
037,
004)
(44,
630,
500)
(26,
259,
648)
Net C
ash
from
/(use
d in
) Inv
estin
g Ac
tiviti
es (2
3,23
3,84
0) (3
4,93
8,50
0) (1
5,22
2,78
9)
Rece
ipts
Proc
eeds
from
bor
row
ing
1,1
25,0
00
2,0
00,0
00
34,
177
Incr
ease
/(Dec
reas
e) in
Dep
osits
and
Bon
ds 1
65,4
53
(100
,000
) (1
32,8
03)
1,2
90,4
53
1,9
00,0
00
(98,
626)
Paym
ents
Repa
ymen
t of b
orro
win
gs (5
90,4
85)
(588
,500
) (1
,138
,925
)
(590
,485
) (5
88,5
00)
(1,1
38,9
25)
Net C
ash
from
/(use
d in
) Fin
anci
ng A
ctiv
ities
699
,968
1
,311
,500
(1
,237
,551
)
Net I
ncre
ase/
(Dec
reas
e) in
Cas
h He
ld (1
5,35
8,81
8) (2
5,62
8,00
0) (7
,056
,774
)
Cash
and
cas
h eq
uiva
lent
s at
the
Begi
nnin
g of
the
Year
32,
544,
972
32,
598,
300
39,
601,
746
Cash
and
cas
h eq
uiva
lent
s at
the
End
of th
e Ye
ar16
17,
186,
154
6,9
70,3
00
32,
544,
972
STAT
EMEN
T O
F CA
SH F
LOW
S FO
R TH
E YE
AR
END
ED 3
0 JU
NE
2016
This
Sta
tem
ent s
houl
d be
read
in c
onju
ncti
on w
ith
the
acco
mpa
nyin
g no
tes.
Note
2016
Actu
al $
2015
Actu
al $
Reve
nue
Gene
ral P
urpo
se F
undi
ng 1
,597
,174
3
,358
,104
Go
vern
ance
122
,791
1
21,1
79
Law,
Ord
er a
nd P
ublic
Saf
ety
145
,764
1
64,6
28
Heal
th 9
9,85
1 7
7,87
0 Ed
ucat
ion
and
Wel
fare
1,1
28,6
34
1,1
00,9
78
Com
mun
ity A
men
ities
2,7
03,7
18
2,8
17,3
68
Recr
eatio
n an
d Cu
lture
9,5
16,2
29
9,2
22,2
32
Tran
spor
t 2
,223
,307
2
,148
,117
Ec
onom
ic Se
rvice
s 4
40,5
52
500
,544
Ot
her P
rope
rty a
nd S
ervic
es 2
,307
,869
2
,901
,677
Tota
l Rev
enue
20,
285,
889
22,
412,
697
Less
: Exp
endi
ture
Gene
ral P
urpo
se F
undi
ng (6
69,4
66)
(575
,735
)Go
vern
ance
(1,8
01,3
51)
(1,7
80,6
03)
Law,
Ord
er a
nd P
ublic
Saf
ety
(1,7
39,2
17)
(1,4
35,8
64)
Heal
th (5
53,2
60)
(568
,040
)Ed
ucat
ion
and
Wel
fare
(1,7
75,7
72)
(1,7
47,5
81)
Com
mun
ity A
men
ities
(6,3
44,4
04)
(5,8
80,6
41)
Recr
eatio
n an
d Cu
lture
(18,
929,
269)
(17,
754,
946)
Tran
spor
t (8
,764
,699
) (8
,221
,307
)Ec
onom
ic Se
rvice
s (5
74,2
00)
(551
,212
)Ot
her P
rope
rty a
nd S
ervic
es (3
,014
,920
) (2
,601
,923
)
Tota
l Exp
endi
ture
(44,
166,
558)
(41,
117,
852)
Net
(23,
880,
669)
(18,
705,
155)
Add
Non
Cash
Exp
endi
ture
Prov
ision
for E
mpl
oyee
Ent
itlem
ents
(Non
Cur
rent
)11
(2,4
47)
(5,3
75)
Adju
stm
ent d
efer
red
rate
s (N
on C
urre
nt)
6 6
0,93
1 3
5,40
1
Depr
ecia
tion
4 7
,796
,072
6
,908
,016
Inte
rest
Cap
italis
ed A
gain
st L
and
( Sou
thpo
rt) -
34,
177
Reva
luat
ion
Emer
ald
Secu
rity
30 4
5,95
9 (8
8,72
0)
Inve
stm
ent i
n Ta
mal
a Pa
rk31
(15,
717)
(602
,307
)
Inve
stm
ent i
n M
inda
rie R
egio
nal C
ounc
il31
(240
,906
) (2
,078
,840
)
7,6
43,8
92
4,2
02,3
52
Note
2016
Actu
al $
2015
Actu
al $
Less
Cap
ital P
rogr
amPu
rcha
se o
f Bui
ldin
gs (1
1,76
1,68
9) (9
62,1
62)
Purc
hase
of F
urni
ture
and
Equ
ipm
ent
(825
,019
) (6
43,7
33)
Purc
hase
of P
lant
and
Equ
ipm
ent
(402
,388
) (6
37,1
07)
Purc
hase
of I
nfra
stru
ctur
e
- Pa
rks
and
Rese
rves
(1,2
27,6
49)
(1,8
87,6
93)
- Ro
ads
and
Lane
s (3
,466
,013
) (1
,830
,345
)
- Dr
aina
ge (4
90,9
16)
(709
,978
)
- Fo
otpa
ths
(600
,590
) (1
,604
,368
)
- Bu
s Sh
elte
r (5
8,76
0) (6
6,64
4)
- W
ork
in P
rogr
ess
(12,
151,
629)
(17,
870,
419)
Land
Dev
elop
men
t Cos
ts C
apita
lised
(30,
014)
(26,
135)
Inve
stm
ent i
n M
inda
rie R
egio
nal C
ounc
il31
(22,
337)
(21,
063)
Repa
ymen
t of D
ebt P
rincip
al
(590
,485
) (1
,138
,925
)
Tran
sfer
s to
Res
erve
(4,5
84,1
78)
(5,1
72,2
05)
Tran
sfer
s to
End
owm
ent L
ands
Acc
ount
(3,8
06,4
01)
(5,5
12,8
17)
(40,
018,
068)
(38,
083,
594)
Add:
Cap
ital R
even
ueCo
ntrib
utio
n fo
r the
dev
elop
men
t of a
sset
s 3
,109
,506
3
,431
,321
Proc
eeds
from
sal
e of
ass
ets
3,3
89,7
40
4,9
47,9
46
Repa
ymen
t of i
nves
tmen
t in
Tam
ala
Park
31 1
,249
,999
2
,583
,334
7,7
49,2
45
10,
962,
601
Plus
: Fun
ding
Sou
rces
Tran
sfer
from
Res
erve
Fun
ds 3
,618
,604
3
,444
,943
Tran
sfer
from
End
owm
ent L
ands
Acc
ount
2
0,08
4,84
5 1
6,09
7,28
5
Loan
s12
1,1
25,0
00
-
Open
ing
Fund
s 3
,636
,000
3
,522
,897
Less
: Clo
sing
Fund
s (3
,429
,500
) (3
,636
,000
)
25,
034,
949
19,
429,
125
Amou
nt R
equi
red
to b
e Ra
ised
from
Rat
es (2
3,47
0,65
1) (2
2,19
4,67
1)
RATE
SET
TIN
G S
TATE
MEN
T FO
R TH
E YE
AR
END
ED 3
0 JU
NE
2016
This
Sta
tem
ent s
houl
d be
read
in c
onju
ncti
on w
ith
the
acco
mpa
nyin
g no
tes.
59Rate Setting Statement
1. Si
gnifi
c ant
acc
ount
ing
polic
ies
(a)
Basi
s of
Pre
para
tion
Th
e fi
nanc
ial r
epor
t com
pris
es g
ener
al p
urpo
se fi
nanc
ial s
tate
men
ts w
hich
has
bee
n pr
epar
ed in
acc
orda
nce
with
Aus
tral
ian
Acc
ount
ing
Stan
dard
s (a
s th
ey a
pply
to lo
cal
gove
rnm
ents
and
not
for p
rofi
t ent
ities
), A
ustr
alia
n A
ccou
ntin
g In
terp
reta
tions
, oth
er
auth
orita
tive
pron
ounc
emen
ts o
f the
Aus
tral
ian
Acc
ount
ing
Stan
dard
s Bo
ard,
the
Loca
l G
over
nmen
t Act
199
5 an
d ac
com
pany
ing
regu
latio
ns.
Mat
eria
l acc
ount
ing
polic
ies
whi
ch
have
bee
n ad
opte
d in
pre
para
tion
of th
is fi
nanc
ial r
epor
t are
pre
sent
ed b
elow
and
hav
e be
en
cons
iste
ntly
app
lied
unle
ss s
tate
d ot
herw
ise.
Ex
cept
for c
ash
fl ow
and
rate
set
ting
stat
emen
t inf
orm
atio
n, th
e re
port
has
bee
n pr
epar
ed
on th
e ac
crua
l bas
is a
nd is
bas
ed o
n hi
stor
ical
cos
ts, m
odifi
ed, w
here
app
licab
le, b
y th
e m
easu
rem
ent a
t fai
r val
ue o
f sel
ecte
d no
n-cu
rren
t ass
ets,
fi na
ncia
l ass
ets
and
liabi
litie
s.
Cr
itica
l Acc
ount
ing
Estim
ates
Th
e pr
epar
atio
n of
a fi
nanc
ial r
epor
t in
conf
orm
ity w
ith A
ustr
alia
n A
ccou
ntin
g St
anda
rds
requ
ires
man
agem
ent t
o m
ake
judg
emen
ts, e
stim
ates
and
ass
umpt
ions
that
aff
ect t
he
appl
icat
ion
of p
olic
ies
and
repo
rted
am
ount
s of
ass
ets
and
liabi
litie
s, in
com
e an
d ex
pens
es.
Th
e es
timat
es a
nd a
ssoc
iate
d as
sum
ptio
ns a
re b
ased
on
hist
oric
al e
xper
ienc
e an
d va
rious
ot
her f
acto
rs th
at a
re b
elie
ved
to b
e re
ason
able
und
er th
e ci
rcum
stan
ces;
the
resu
lts o
f whi
ch
form
the
basi
s of
mak
ing
judg
emen
ts a
bout
car
ryin
g va
lues
of a
sset
s an
d lia
bilit
ies
that
are
no
t rea
dily
app
aren
t fro
m o
ther
sou
rces
. A
ctua
l res
ults
may
dif
fer f
rom
thes
e es
timat
es.
(b)
The
Loca
l Gov
ernm
ent R
epor
ting
Entit
y
A
ll Fu
nds
thro
ugh
whi
ch th
e To
wn
cont
rols
reso
urce
s to
car
ry o
n its
func
tions
hav
e be
en
incl
uded
in th
e fi
nanc
ial s
tate
men
ts fo
rmin
g pa
rt o
f thi
s fi
nanc
ial r
epor
t.
In
the
proc
ess
of re
port
ing
on th
e lo
cal g
over
nmen
t as
a si
ngle
uni
t, al
l tra
nsac
tions
and
ba
lanc
es b
etw
een
thos
e Fu
nds
(for
exa
mpl
e, lo
ans
and
tran
sfer
s be
twee
n Fu
nds)
hav
e be
en
elim
inat
ed.
A
ll m
onie
s he
ld in
the
Trus
t Fun
d ar
e ex
clud
ed fr
om th
e fi
nanc
ial s
tate
men
ts. A
sep
arat
e st
atem
ent o
f tho
se m
onie
s ap
pear
s at
Not
e 2
4 of
thes
e fi
nanc
ial s
tate
men
ts.
(c)
Good
s an
d Se
rvic
es T
ax
Re
venu
es, e
xpen
ses
and
asse
ts a
re re
cogn
ized
net
of t
he a
mou
nt G
ST, e
xcep
t whe
re th
e am
ount
of G
ST in
curr
ed is
not
reco
vera
ble
from
the
Aus
tral
ian
Taxa
tion
Offi
ce
(ATO
).
Re
ceiv
able
s or
pay
able
s ar
e st
ated
incl
usiv
e of
GST
rece
ivab
le o
r pay
able
. Th
e ne
t am
ount
of
GST
reco
vera
ble
from
or p
ayab
le to
the
ATO
is in
clud
ed w
ith re
ceiv
able
s or
pay
able
s in
the
stat
emen
t of fi
nan
cial
pos
ition
.
Ca
sh fl
ows
are
pres
ente
d on
a g
ross
bas
is.
The
GST
com
pone
nts
of c
ash
fl ow
s ar
isin
g fr
om
inve
stin
g or
fi na
ncin
g ac
tiviti
es w
hich
are
reco
vera
ble
from
, or p
ayab
le to
, the
ATO
are
pr
esen
ted
as o
pera
ting
cash
fl ow
s.
(d)
Prop
erty
, Pla
nt a
nd E
quip
men
t
Ea
ch c
lass
of fi
xed
ass
ets
with
in e
ither
pro
pert
y, p
lant
and
equ
ipm
ent o
r inf
rast
ruct
ure
is
carr
ied
at c
ost o
r fai
r val
ue a
s in
dica
ted
less
, whe
re a
pplic
able
, any
acc
umul
ated
dep
reci
atio
n an
d im
pairm
ent l
osse
s.
(i
) Ca
pita
lisat
ion
of N
on-C
urre
nt A
sset
s
Fixe
d as
sets
oth
er th
an in
fras
truc
ture
ass
ets
are
capi
talis
ed if
the
cost
exc
eeds
$1,
000.
In
fras
truc
ture
ass
ets
are
capi
talis
ed if
the
cost
or v
alua
tion
exce
eds
the
follo
win
g fo
r eac
h ty
pe o
f inf
rast
ruct
ure.
Park
s an
d Re
serv
es
$10,
000
Road
s an
d La
nes
$1
0,00
0
Dra
inag
e
$10,
000
Foot
path
s
$2,0
00
Bus
Shel
ters
$2
,000
Und
erpa
sses
$1
0,00
0
The
Chie
f Exe
cutiv
e O
ffi c
er o
r nom
inee
has
dis
cret
ion
to c
apita
lise
asse
ts w
ith a
val
ue o
f $1
,000
or l
ess
havi
ng re
gard
to th
e na
ture
of t
he it
em.
(i
i) D
epre
ciat
ion
The
depr
ecia
ble
amou
nt o
f all
fi xe
d as
sets
incl
udin
g bu
ildin
gs b
ut e
xclu
ding
free
hold
la
nd, a
re d
epre
ciat
ed o
n a
stra
ight
line
bas
is o
ver t
he in
divi
dual
ass
et’s
use
ful l
ife
from
th
e tim
e th
e as
set i
s he
ld re
ady
for u
se.
Leas
ehol
d im
prov
emen
ts a
re d
epre
ciat
ed o
ver
the
shor
ter o
f eith
er th
e un
expi
red
perio
d of
the
leas
e or
the
estim
ated
use
ful l
ife
of
impr
ovem
ents
.
Whe
n an
item
of p
rope
rty,
pla
nt a
nd e
quip
men
t is
reva
lued
, any
acc
umul
ated
de
prec
iatio
n at
the
date
of r
eval
uatio
n is
trea
ted
in o
ne o
f the
follo
win
g w
ays:
(a)
Rest
ated
pro
port
iona
tely
with
the
chan
ge in
the
gros
s ca
rryi
ng a
mou
nt o
f the
ass
et s
o th
at th
e ca
rryi
ng a
mou
nt o
f the
ass
et a
fter
reva
luat
ion
equa
ls it
s re
valu
ed a
mou
nt; o
r
(b)
Elim
inat
ed a
gain
st th
e gr
oss
carr
ying
am
ount
of t
he a
sset
and
the
net a
mou
nt
rest
ated
to th
e re
valu
ed a
mou
nt o
f the
ass
et.
Maj
or d
epre
ciat
ion
perio
ds u
sed
for e
ach
clas
s of
dep
reci
atio
n as
sets
are
:
CATE
GORY
USEF
UL L
IFE
DEPR
ECIA
TION
RAT
E
Build
ings
25-5
0 Ye
ars
4%-2
%
Offi c
e Fu
rnitu
re a
nd E
quip
men
t3-
10 Ye
ars
33.3
%-1
0%
Plan
t and
Equ
ipm
ent
3-10
Year
s33
.3%
-10%
Infra
stru
ctur
e- P
arks
and
Res
erve
s 10
-40
Year
s10
%-2
.5%
- Roa
ds a
nd L
anes
10-8
0 Ye
ars
10%
-1.2
5%- D
rain
age
30-1
00 Ye
ars
3.3%
-1%
- Foo
tpat
hs15
-80
Year
s6.
6%-1
.25%
- Bus
She
lters
15-5
0 Ye
ars
6.6%
-2%
The
asse
t’s re
sidu
al v
alue
s an
d us
eful
live
s ar
e re
view
ed a
nd a
djus
ted
if a
ppro
pria
te, a
t th
e en
d of
eac
h re
port
ing
perio
d.
An
asse
t’s c
arry
ing
amou
nt is
writ
ten
dow
n im
med
iate
ly to
its
reco
vera
ble
amou
nt if
the
asse
t’s c
arry
ing
amou
nt is
gre
ater
than
its
estim
ated
reco
vera
ble
amou
nt.
Gai
ns a
nd lo
sses
on
disp
osal
s ar
e de
term
ined
by
com
parin
g pr
ocee
ds w
ith th
e ca
rryi
ng
amou
nt.
Thes
e ga
ins
and
loss
es a
re in
clud
ed in
the
Stat
emen
t of C
ompr
ehen
sive
Inco
me
in th
e pe
riod
in w
hich
they
aris
e.
Whe
n re
valu
ed a
sset
s ar
e di
spos
ed o
f, am
ount
s in
clud
ed in
the
reva
luat
ion
surp
lus
rela
ting
to th
at a
sset
are
tran
sfer
red
to re
tain
ed s
urpl
us.
(i
ii) M
anda
tory
Req
uire
men
t to
Reva
lue
Non
-Cur
rent
Ass
ets
Effe
ctiv
e fr
om 1
Jul
y 20
12,
the
Loca
l Gov
ernm
ent (
Fina
ncia
l Man
agem
ent)
Reg
ulat
ions
w
ere
amen
ded
and
the
mea
sure
men
t of n
on-c
urre
nt a
sset
s at
Fai
r Val
ue b
ecam
e m
anda
tory
.
Dur
ing
the
year
end
ed 3
0 Ju
ne 2
013
, the
Tow
n co
mm
ence
d th
e pr
oces
s of
ado
ptin
g Fa
ir
Valu
e in
acc
orda
nce
with
the
Regu
latio
ns.
Whi
lst t
he a
men
dmen
ts in
itial
ly a
llow
ed fo
r a
phas
ing
in o
f fai
r val
ue in
rela
tion
to fi
xed
asse
ts o
ver t
hree
yea
rs, a
s at
30
June
201
5 al
l no
n cu
rren
t ass
ets
wer
e ca
rrie
d at
Fai
r Val
ue in
acc
orda
nce
with
the
requ
irem
ents
.
Ther
eaft
er, e
ach
asse
t cla
ss m
ust b
e re
valu
ed in
acc
orda
nce
with
the
regu
lato
ry
fram
ewor
k es
tabl
ishe
d an
d th
e To
wn
reva
lues
its
asse
t cla
sses
in a
ccor
danc
e w
ith th
is
man
dato
ry ti
met
able
.
Rele
vant
dis
clos
ures
, in
acco
rdan
ce w
ith th
e re
quire
men
ts o
f Aus
tral
ian
Acc
ount
ing
Stan
dard
s, h
ave
been
mad
e in
the
fi na
ncia
l rep
ort a
s ne
cess
ary.
(i
v) L
and
Und
er C
ontr
ol
In a
ccor
danc
e w
ith L
ocal
Gov
ernm
ent (
Fina
ncia
l Man
agem
ent)
Reg
ulat
ion
16(a
), th
e To
wn
was
requ
ired
to in
clud
e as
an
asse
t (by
30
June
201
3), C
row
n La
nd o
pera
ted
by
the
loca
l gov
ernm
ent a
s a
golf
cour
se, s
how
grou
nd, r
acec
ours
e or
oth
er s
port
ing
or
recr
eatio
nal f
acili
ty o
f Sta
te o
r reg
iona
l sig
nifi
canc
e. T
own
has
no s
uch
asse
ts o
n Cr
own
Land
with
the
Wem
bley
Gol
f Cou
rse
owne
d fr
eeho
ld.
(v
) Re
valu
atio
n
Incr
ease
s in
the
carr
ying
am
ount
aris
ing
on re
valu
atio
n of
ass
ets
are
cred
ited
to a
re
valu
atio
n su
rplu
s in
equ
ity.
Dec
reas
es th
at o
ffse
t pre
viou
s in
crea
ses
of th
e sa
me
asse
t ar
e re
cogn
ised
aga
inst
the
reva
luat
ion
surp
lus
dire
ctly
in e
quity
. A
ll ot
her d
ecre
ases
are
re
cogn
ised
in p
rofi
t or l
oss.
(v
i) In
itial
Rec
ogni
tion
and
Mea
sure
men
t bet
wee
n m
anda
tory
reva
luat
ion
date
s
All
asse
ts a
re in
itial
ly re
cogn
ised
at c
ost a
nd s
ubse
quen
tly re
valu
ed in
acc
orda
nce
with
th
e m
anda
tory
mea
sure
men
t fra
mew
ork
deta
iled
abov
e.
In re
latio
n to
this
initi
al m
easu
rem
ent,
cost
is d
eter
min
ed a
s th
e fa
ir va
lue
of th
e as
sets
gi
ven
as c
onsi
dera
tion
plus
cos
ts in
cide
ntal
to th
e ac
quis
ition
. Fo
r ass
ets
acqu
ired
at
no c
ost o
r for
nom
inal
con
side
ratio
n, c
ost i
s de
term
ined
as
fair
valu
e at
the
date
of
acqu
isiti
on.
The
cost
of n
on-c
urre
nt a
sset
s co
nstr
ucte
d by
the
Tow
n in
clud
es th
e co
st
of a
ll m
ater
ials
use
d in
con
stru
ctio
n, d
irect
labo
ur o
n th
e pr
ojec
t and
an
appr
opria
te
prop
ortio
n of
var
iabl
e an
d fi
xed
over
head
s.
Indi
vidu
al a
sset
s ac
quire
d be
twee
n in
itial
reco
gniti
on a
nd th
e ne
xt re
valu
atio
n of
the
asse
t cl
ass
in a
ccor
danc
e w
ith th
e m
anda
tory
mea
sure
men
t fra
mew
ork
deta
iled
abov
e, a
re
carr
ied
at c
ost l
ess
accu
mul
ated
dep
reci
atio
n as
man
agem
ent b
elie
ves
this
app
roxi
mat
es
fair
valu
e. T
hey
will
be
subj
ect t
o su
bseq
uent
reva
luat
ion
at th
e ne
xt a
nniv
ersa
ry d
ate
in
acco
rdan
ce w
ith th
e m
anda
tory
mea
sure
men
t fra
mew
ork
deta
iled
abov
e.
(e)
Inta
ngib
le A
sset
s
Ea
sem
ents
Re
gula
tion
16 o
f the
Loc
al G
over
nmen
t (Fi
nanc
ial M
anag
emen
t) R
egul
atio
ns 1
996
requ
ires
ease
men
ts to
be
reco
gnis
ed a
s as
sets
.
Th
e To
wn
has
dete
rmin
ed th
at u
nder
AA
SB 1
38 In
tang
ible
Ass
ets,
eas
emen
ts a
re v
alue
d on
a
hist
oric
al b
asis
, bec
ause
it is
unl
ikel
y th
at a
n ac
tive
mar
ket i
n ea
sem
ents
exi
sts
to a
llow
for f
air
valu
e m
easu
rem
ent.
Due
to a
cqui
sitio
n of
eas
emen
ts a
t nil
valu
es, n
o ea
sem
ents
hav
e be
en
incl
uded
in th
e fi
nanc
ial r
epor
t.
(f)
Land
Und
er R
oads
In
Wes
tern
Aus
tral
ia, a
ll la
nd u
nder
road
s is
Cro
wn
Land
, the
resp
onsi
bilit
y fo
r man
agin
g th
is is
ve
sted
in th
e lo
cal g
over
nmen
t.
60 Town of Cambridge Annual Report 2015-2016
CATE
GORY
USEF
UL L
IFE
DEPR
ECIA
TION
RAT
E
Build
ings
25-5
0 Ye
ars
4%-2
%
Offi c
e Fu
rnitu
re a
nd E
quip
men
t3-
10 Ye
ars
33.3
%-1
0%
Plan
t and
Equ
ipm
ent
3-10
Year
s33
.3%
-10%
Infra
stru
ctur
e- P
arks
and
Res
erve
s 10
-40
Year
s10
%-2
.5%
- Roa
ds a
nd L
anes
10-8
0 Ye
ars
10%
-1.2
5%- D
rain
age
30-1
00 Ye
ars
3.3%
-1%
- Foo
tpat
hs15
-80
Year
s6.
6%-1
.25%
- Bus
She
lters
15-5
0 Ye
ars
6.6%
-2%
The
asse
t’s re
sidu
al v
alue
s an
d us
eful
live
s ar
e re
view
ed a
nd a
djus
ted
if a
ppro
pria
te, a
t th
e en
d of
eac
h re
port
ing
perio
d.
An
asse
t’s c
arry
ing
amou
nt is
writ
ten
dow
n im
med
iate
ly to
its
reco
vera
ble
amou
nt if
the
asse
t’s c
arry
ing
amou
nt is
gre
ater
than
its
estim
ated
reco
vera
ble
amou
nt.
Gai
ns a
nd lo
sses
on
disp
osal
s ar
e de
term
ined
by
com
parin
g pr
ocee
ds w
ith th
e ca
rryi
ng
amou
nt.
Thes
e ga
ins
and
loss
es a
re in
clud
ed in
the
Stat
emen
t of C
ompr
ehen
sive
Inco
me
in th
e pe
riod
in w
hich
they
aris
e.
Whe
n re
valu
ed a
sset
s ar
e di
spos
ed o
f, am
ount
s in
clud
ed in
the
reva
luat
ion
surp
lus
rela
ting
to th
at a
sset
are
tran
sfer
red
to re
tain
ed s
urpl
us.
(i
ii) M
anda
tory
Req
uire
men
t to
Reva
lue
Non
-Cur
rent
Ass
ets
Effe
ctiv
e fr
om 1
Jul
y 20
12,
the
Loca
l Gov
ernm
ent (
Fina
ncia
l Man
agem
ent)
Reg
ulat
ions
w
ere
amen
ded
and
the
mea
sure
men
t of n
on-c
urre
nt a
sset
s at
Fai
r Val
ue b
ecam
e m
anda
tory
.
Dur
ing
the
year
end
ed 3
0 Ju
ne 2
013
, the
Tow
n co
mm
ence
d th
e pr
oces
s of
ado
ptin
g Fa
ir
Valu
e in
acc
orda
nce
with
the
Regu
latio
ns.
Whi
lst t
he a
men
dmen
ts in
itial
ly a
llow
ed fo
r a
phas
ing
in o
f fai
r val
ue in
rela
tion
to fi
xed
asse
ts o
ver t
hree
yea
rs, a
s at
30
June
201
5 al
l no
n cu
rren
t ass
ets
wer
e ca
rrie
d at
Fai
r Val
ue in
acc
orda
nce
with
the
requ
irem
ents
.
Ther
eaft
er, e
ach
asse
t cla
ss m
ust b
e re
valu
ed in
acc
orda
nce
with
the
regu
lato
ry
fram
ewor
k es
tabl
ishe
d an
d th
e To
wn
reva
lues
its
asse
t cla
sses
in a
ccor
danc
e w
ith th
is
man
dato
ry ti
met
able
.
Rele
vant
dis
clos
ures
, in
acco
rdan
ce w
ith th
e re
quire
men
ts o
f Aus
tral
ian
Acc
ount
ing
Stan
dard
s, h
ave
been
mad
e in
the
fi na
ncia
l rep
ort a
s ne
cess
ary.
(i
v) L
and
Und
er C
ontr
ol
In a
ccor
danc
e w
ith L
ocal
Gov
ernm
ent (
Fina
ncia
l Man
agem
ent)
Reg
ulat
ion
16(a
), th
e To
wn
was
requ
ired
to in
clud
e as
an
asse
t (by
30
June
201
3), C
row
n La
nd o
pera
ted
by
the
loca
l gov
ernm
ent a
s a
golf
cour
se, s
how
grou
nd, r
acec
ours
e or
oth
er s
port
ing
or
recr
eatio
nal f
acili
ty o
f Sta
te o
r reg
iona
l sig
nifi
canc
e. T
own
has
no s
uch
asse
ts o
n Cr
own
Land
with
the
Wem
bley
Gol
f Cou
rse
owne
d fr
eeho
ld.
(v
) Re
valu
atio
n
Incr
ease
s in
the
carr
ying
am
ount
aris
ing
on re
valu
atio
n of
ass
ets
are
cred
ited
to a
re
valu
atio
n su
rplu
s in
equ
ity.
Dec
reas
es th
at o
ffse
t pre
viou
s in
crea
ses
of th
e sa
me
asse
t ar
e re
cogn
ised
aga
inst
the
reva
luat
ion
surp
lus
dire
ctly
in e
quity
. A
ll ot
her d
ecre
ases
are
re
cogn
ised
in p
rofi
t or l
oss.
(v
i) In
itial
Rec
ogni
tion
and
Mea
sure
men
t bet
wee
n m
anda
tory
reva
luat
ion
date
s
All
asse
ts a
re in
itial
ly re
cogn
ised
at c
ost a
nd s
ubse
quen
tly re
valu
ed in
acc
orda
nce
with
th
e m
anda
tory
mea
sure
men
t fra
mew
ork
deta
iled
abov
e.
In re
latio
n to
this
initi
al m
easu
rem
ent,
cost
is d
eter
min
ed a
s th
e fa
ir va
lue
of th
e as
sets
gi
ven
as c
onsi
dera
tion
plus
cos
ts in
cide
ntal
to th
e ac
quis
ition
. Fo
r ass
ets
acqu
ired
at
no c
ost o
r for
nom
inal
con
side
ratio
n, c
ost i
s de
term
ined
as
fair
valu
e at
the
date
of
acqu
isiti
on.
The
cost
of n
on-c
urre
nt a
sset
s co
nstr
ucte
d by
the
Tow
n in
clud
es th
e co
st
of a
ll m
ater
ials
use
d in
con
stru
ctio
n, d
irect
labo
ur o
n th
e pr
ojec
t and
an
appr
opria
te
prop
ortio
n of
var
iabl
e an
d fi
xed
over
head
s.
Indi
vidu
al a
sset
s ac
quire
d be
twee
n in
itial
reco
gniti
on a
nd th
e ne
xt re
valu
atio
n of
the
asse
t cl
ass
in a
ccor
danc
e w
ith th
e m
anda
tory
mea
sure
men
t fra
mew
ork
deta
iled
abov
e, a
re
carr
ied
at c
ost l
ess
accu
mul
ated
dep
reci
atio
n as
man
agem
ent b
elie
ves
this
app
roxi
mat
es
fair
valu
e. T
hey
will
be
subj
ect t
o su
bseq
uent
reva
luat
ion
at th
e ne
xt a
nniv
ersa
ry d
ate
in
acco
rdan
ce w
ith th
e m
anda
tory
mea
sure
men
t fra
mew
ork
deta
iled
abov
e.
(e)
Inta
ngib
le A
sset
s
Ea
sem
ents
Re
gula
tion
16 o
f the
Loc
al G
over
nmen
t (Fi
nanc
ial M
anag
emen
t) R
egul
atio
ns 1
996
requ
ires
ease
men
ts to
be
reco
gnis
ed a
s as
sets
.
Th
e To
wn
has
dete
rmin
ed th
at u
nder
AA
SB 1
38 In
tang
ible
Ass
ets,
eas
emen
ts a
re v
alue
d on
a
hist
oric
al b
asis
, bec
ause
it is
unl
ikel
y th
at a
n ac
tive
mar
ket i
n ea
sem
ents
exi
sts
to a
llow
for f
air
valu
e m
easu
rem
ent.
Due
to a
cqui
sitio
n of
eas
emen
ts a
t nil
valu
es, n
o ea
sem
ents
hav
e be
en
incl
uded
in th
e fi
nanc
ial r
epor
t.
(f)
Land
Und
er R
oads
In
Wes
tern
Aus
tral
ia, a
ll la
nd u
nder
road
s is
Cro
wn
Land
, the
resp
onsi
bilit
y fo
r man
agin
g th
is is
ve
sted
in th
e lo
cal g
over
nmen
t.
61Notes to and Forming Part of the Financial Report
Ef
fect
ive
as a
t 1 J
uly
2008
, Tow
n el
ecte
d no
t to
reco
gnis
e an
y va
lue
for l
and
unde
r roa
ds a
cqui
red
on o
r bef
ore
30 J
une
2008
. Thi
s acc
ords
with
the
trea
tmen
t ava
ilabl
e in
Aus
tral
ian
Acc
ount
ing
Stan
dard
AA
SB 1
051
Land
Und
er R
oads
and
the
fact
Loc
al G
over
nmen
t (Fi
nanc
ial M
anag
emen
t)
Regu
latio
n 16
(a)(
i) pr
ohib
its lo
cal g
over
nmen
ts fr
om re
cogn
isin
g su
ch la
nd a
s an
asse
t.
In
resp
ect o
f lan
d un
der r
oads
acq
uire
d on
or a
fter
1 J
uly
200
8, a
s de
taile
d ab
ove,
Loc
al
Gov
ernm
ent (
Fina
ncia
l Man
agem
ent)
Reg
ulat
ion
16(a
)(i)
pro
hibi
ts lo
cal g
over
nmen
ts fr
om
reco
gnis
ing
such
land
as
an a
sset
.
W
hils
t suc
h tr
eatm
ent i
s in
cons
iste
nt w
ith th
e re
quire
men
ts o
f AA
SB 1
051,
Loc
al
Gov
ernm
ent (
Fina
ncia
l Man
agem
ent)
Reg
ulat
ion
4(2
) pro
vide
s, in
the
even
t of s
uch
an
inco
nsis
tenc
y, th
e Lo
cal G
over
nmen
t (Fi
nanc
ial M
anag
emen
t) R
egul
atio
ns p
reva
il.
Co
nseq
uent
ly, a
ny la
nd u
nder
road
s ac
quire
d on
or a
fter
1 J
uly
200
8 is
not
incl
uded
as
an
asse
t of t
he T
own.
(g)
Fair
Valu
e of
Ass
ets
and
Liab
ilitie
s
W
hen
perf
orm
ing
a re
valu
atio
n, th
e To
wn
uses
a m
ix o
f bot
h in
depe
nden
t and
man
agem
ent
valu
atio
ns u
sing
the
follo
win
g as
a g
uide
:
Fa
ir Va
lue
is th
e pr
ice
that
Tow
n w
ould
rece
ive
to s
ell t
he a
sset
or w
ould
hav
e to
pay
to
tran
sfer
a li
abili
ty, i
n an
ord
erly
(ie
unfo
rced
) tra
nsac
tion
betw
een
inde
pend
ent,
know
ledg
eabl
e an
d w
illin
g m
arke
t par
ticip
ants
at t
he m
easu
rem
ent d
ate.
A
s fa
ir va
lue
is a
mar
ket-
base
d m
easu
re, t
he c
lose
st e
quiv
alen
t obs
erva
ble
mar
ket p
ricin
g in
form
atio
n is
use
d to
det
erm
ine
fair
valu
e. A
djus
tmen
ts to
mar
ket v
alue
s m
ay b
e m
ade
havi
ng re
gard
to th
e ch
arac
teris
tics
of th
e sp
ecifi
c as
set.
The
fair
valu
es o
f ass
ets
that
are
not
tr
aded
in a
n ac
tive
mar
ket a
re d
eter
min
ed u
sing
one
or m
ore
valu
atio
n te
chni
ques
. The
se
valu
atio
n te
chni
ques
max
imis
e, to
the
exte
nt p
ossi
ble,
the
use
of o
bser
vabl
e m
arke
t dat
a.
To
the
exte
nt p
ossi
ble,
mar
ket i
nfor
mat
ion
is e
xtra
cted
from
eith
er th
e pr
inci
pal m
arke
t for
th
e as
set o
r lia
bilit
y (i
.e. t
he m
arke
t with
the
grea
test
vol
ume
and
leve
l of a
ctiv
ity fo
r the
ass
et
or li
abili
ty) o
r, in
the
abse
nce
of s
uch
a m
arke
t, th
e m
ost a
dvan
tage
ous
mar
ket a
vaila
ble
to th
e en
tity
at th
e en
d of
the
repo
rtin
g pe
riod
(i.e
. the
mar
ket t
hat m
axim
ises
the
rece
ipts
from
the
sale
of t
he a
sset
aft
er ta
king
into
acc
ount
tran
sact
ion
cost
s an
d tr
ansp
ort c
osts
).
Fo
r non
-fi n
anci
al a
sset
s, th
e fa
ir va
lue
mea
sure
men
t als
o ta
kes
into
acc
ount
a m
arke
t pa
rtic
ipan
t’s a
bilit
y to
use
the
asse
t in
its h
ighe
st a
nd b
est u
se o
r to
sell
it to
ano
ther
mar
ket
part
icip
ant t
hat w
ould
use
the
asse
t in
its h
ighe
st a
nd b
est u
se.
Fa
ir Va
lue
Hie
rarc
hy
A
ASB
13
requ
ires
the
disc
losu
re o
f fai
r val
ue in
form
atio
n by
leve
l of t
he fa
ir va
lue
hier
arch
y,
whi
ch c
ateg
oris
es fa
ir va
lue
mea
sure
men
t int
o on
e of
thre
e po
ssib
le le
vels
bas
ed o
n th
e lo
wes
t le
vel t
hat a
n in
put t
hat i
s si
gnifi
cant
to th
e m
easu
rem
ent c
an b
e ca
tego
rised
into
as
follo
ws:
Le
vel 1
M
easu
rem
ents
bas
ed o
n qu
oted
pric
es (u
nadj
uste
d) in
act
ive
mar
kets
for i
dent
ical
ass
ets
or
liabi
litie
s th
at th
e en
tity
can
acce
ss a
t the
mea
sure
men
t dat
e.
Le
vel 2
M
easu
rem
ents
bas
ed o
n in
puts
oth
er th
an q
uote
d pr
ices
incl
uded
in L
evel
1 th
at a
re
obse
rvab
le fo
r the
ass
et o
r lia
bilit
y, e
ither
dire
ctly
or i
ndire
ctly
.
Le
vel 3
M
easu
rem
ents
bas
ed o
n un
obse
rvab
le in
puts
for t
he a
sset
or l
iabi
lity.
Th
e fa
ir va
lues
of a
sset
s an
d lia
bilit
ies
that
are
not
trad
ed in
an
activ
e m
arke
t are
det
erm
ined
us
ing
one
or m
ore
valu
atio
n te
chni
ques
. The
se v
alua
tion
tech
niqu
es m
axim
ise,
to th
e ex
tent
po
ssib
le, t
he u
se o
f obs
erva
ble
mar
ket d
ata.
If a
ll si
gnifi
cant
inpu
ts re
quire
d to
mea
sure
fair
va
lue
are
obse
rvab
le, t
he a
sset
or l
iabi
lity
is in
clud
ed in
Lev
el 2
. If o
ne o
r mor
e si
gnifi
cant
in
puts
are
not
bas
ed o
n ob
serv
able
mar
ket d
ata,
the
asse
t or l
iabi
lity
is in
clud
ed in
Lev
el 3
.
Va
luat
ion
tech
niqu
es
Th
e To
wn
sele
cts
a va
luat
ion
tech
niqu
e th
at is
app
ropr
iate
in th
e ci
rcum
stan
ces
and
for w
hich
su
ffi c
ient
dat
a is
ava
ilabl
e to
mea
sure
fair
valu
e. T
he a
vaila
bilit
y of
suf
fi ci
ent a
nd re
leva
nt
data
prim
arily
dep
ends
on
the
spec
ifi c
char
acte
ristic
s of
the
asse
t or l
iabi
lity
bein
g m
easu
red.
Th
e va
luat
ion
tech
niqu
es s
elec
ted
by th
e To
wn
are
cons
iste
nt w
ith o
ne o
r mor
e of
the
follo
win
g va
luat
ion
appr
oach
es:
M
arke
t app
roac
h
Va
luat
ion
tech
niqu
es th
at u
se p
rices
and
oth
er re
leva
nt in
form
atio
n ge
nera
ted
by m
arke
t tr
ansa
ctio
ns fo
r ide
ntic
al o
r sim
ilar a
sset
s or
liab
ilitie
s.
In
com
e ap
proa
ch
Va
luat
ion
tech
niqu
es th
at c
onve
rt e
stim
ated
futu
re c
ash
fl ow
s or
inco
me
and
expe
nses
into
a
sing
le d
isco
unte
d pr
esen
t val
ue.
Co
st a
ppro
ach
Va
luat
ion
tech
niqu
es th
at re
fl ec
t the
cur
rent
repl
acem
ent c
ost o
f an
asse
t at i
ts c
urre
nt
serv
ice
capa
city
.
Ea
ch v
alua
tion
tech
niqu
e re
quire
s in
puts
that
refl
ect t
he a
ssum
ptio
ns th
at b
uyer
s an
d se
llers
wou
ld u
se w
hen
pric
ing
the
asse
t or l
iabi
lity,
incl
udin
g as
sum
ptio
ns a
bout
risk
s. W
hen
sele
ctin
g a
valu
atio
n te
chni
que,
the
Tow
n gi
ves
prio
rity
to th
ose
tech
niqu
es th
at m
axim
ise
the
use
of o
bser
vabl
e in
puts
and
min
imis
e th
e us
e of
uno
bser
vabl
e in
puts
. Inp
uts
that
are
de
velo
ped
usin
g m
arke
t dat
a (s
uch
as p
ublic
ly a
vaila
ble
info
rmat
ion
on a
ctua
l tra
nsac
tions
) an
d re
fl ec
t the
ass
umpt
ions
that
buy
ers
and
selle
rs w
ould
gen
eral
ly u
se w
hen
pric
ing
the
asse
t or l
iabi
lity
and
cons
ider
ed o
bser
vabl
e, w
here
as in
puts
for w
hich
mar
ket d
ata
is n
ot
avai
labl
e an
d th
eref
ore
are
deve
lope
d us
ing
the
best
info
rmat
ion
avai
labl
e ab
out s
uch
assu
mpt
ions
are
con
side
red
unob
serv
able
.
A
s de
taile
d ab
ove,
the
man
dato
ry m
easu
rem
ent f
ram
ewor
k im
pose
d by
the
Loca
l G
over
nmen
t (Fi
nanc
ial M
anag
emen
t) R
egul
atio
ns re
quire
s, a
s a
min
imum
, all
asse
ts c
arrie
d at
a
reva
lued
am
ount
to b
e re
valu
ed a
t lea
st e
very
3 y
ears
.
62 Town of Cambridge Annual Report 2015-2016
(h)
Rate
s, G
rant
s, D
onat
ions
and
Oth
er C
ontr
ibut
ions
Ra
tes,
gra
nts,
don
atio
ns a
nd o
ther
con
trib
utio
ns a
re re
cogn
ised
as
reve
nues
whe
n th
e To
wn
obta
ins
cont
rol o
ver t
he a
sset
s co
mpr
isin
g th
e co
ntrib
utio
ns.
Co
ntro
l ove
r ass
ets
acqu
ired
from
rate
s is
obt
aine
d at
the
com
men
cem
ent o
f the
ratin
g pe
riod
or, w
here
ear
lier,
upon
rece
ipt o
f rat
es.
W
here
con
trib
utio
ns re
cogn
ised
as
reve
nues
dur
ing
the
repo
rtin
g pe
riod
wer
e ob
tain
ed o
n th
e co
nditi
on th
at th
ey a
re e
xpen
ded
in a
par
ticul
ar m
anne
r or u
sed
over
a p
artic
ular
per
iod,
an
d th
ose
cond
ition
s w
ere
undi
scha
rged
as
at th
e re
port
ing
date
, the
nat
ure
of a
nd a
mou
nts
pert
aini
ng to
thos
e un
disc
harg
ed c
ondi
tions
are
dis
clos
ed in
the
note
s ac
com
pany
ing
the
fi na
ncia
l rep
ort.
Th
at n
ote
also
dis
clos
es th
e am
ount
of c
ontr
ibut
ions
reco
gnis
ed a
s re
venu
es in
a p
revi
ous
repo
rtin
g pe
riod
whi
ch w
ere
obta
ined
in re
spec
t of t
he T
own’
s op
erat
ions
for t
he c
urre
nt
repo
rtin
g pe
riod.
(i)
Cash
and
Cas
h Eq
uiva
lent
s
Ca
sh a
nd c
ash
equi
vale
nts
incl
ude
cash
on
hand
, cas
h at
ban
k, d
epos
its a
vaila
ble
on d
eman
d w
ith b
anks
and
oth
er s
hort
term
hig
hly
liqui
d in
vest
men
ts th
at a
re re
adily
con
vert
ible
to
know
n am
ount
s of
cas
h an
d w
hich
are
sub
ject
to a
n in
sign
ifi ca
nt ri
sk o
f cha
nges
in v
alue
and
ba
nk o
verd
raft
s.
Ba
nk o
verd
raft
s ar
e re
port
ed a
s sh
ort t
erm
bor
row
ings
in c
urre
nt li
abili
ties
in th
e st
atem
ent o
f fi
nanc
ial p
ositi
on.
(j)
Inve
ntor
ies
Ge
nera
l
In
vent
orie
s ar
e m
easu
red
at th
e lo
wer
of c
ost a
nd n
et re
alis
able
val
ue.
N
et re
alis
able
val
ue is
the
estim
ated
sel
ling
pric
e in
the
ordi
nary
cou
rse
of b
usin
ess
less
the
estim
ated
cos
ts o
f com
plet
ion
and
the
estim
ated
cos
ts n
eces
sary
to m
ake
the
sale
.
La
nd H
eld
for R
esal
e
La
nd h
eld
for d
evel
opm
ent a
nd s
ale
is v
alue
d at
the
low
er o
f cos
t and
net
real
isab
le v
alue
. Co
st in
clud
es th
e co
st o
f acq
uisi
tion,
dev
elop
men
t, bo
rrow
ing
cost
s an
d ho
ldin
g co
sts
until
co
mpl
etio
n of
dev
elop
men
t. F
inan
ce c
osts
and
hol
ding
cha
rges
incu
rred
aft
er d
evel
opm
ent
is c
ompl
eted
are
exp
ense
d.
G
ains
and
loss
es a
re re
cogn
ised
in p
rofi
t or l
oss
at th
e tim
e of
sig
ning
an
unco
nditi
onal
co
ntra
ct o
f sal
e if
sig
nifi
cant
risk
s an
d re
war
ds, a
nd e
ffec
tive
cont
rol o
ver t
he la
nd, a
re p
asse
d on
to th
e bu
yer a
t thi
s po
int.
La
nd h
eld
for r
esal
e is
cla
ssifi
ed a
s cu
rren
t exc
ept w
here
it is
hel
d as
non
-cur
rent
bas
ed o
n To
wn’
s in
tent
ions
to re
leas
e fo
r sal
e.
(k)
Fina
ncia
l Ins
trum
ents
In
itial
Rec
ogni
tion
and
Mea
sure
men
t
Fi
nanc
ial a
sset
s an
d fi
nanc
ial l
iabi
litie
s ar
e re
cogn
ised
whe
n th
e To
wn
beco
mes
a p
arty
to th
e co
ntra
ctua
l pro
visi
ons
to th
e in
stru
men
t. F
or fi
nanc
ial a
sset
s, th
is is
equ
ival
ent t
o th
e da
te
that
the
Tow
n co
mm
its it
self
to e
ither
the
purc
hase
or t
he s
ale
of th
e as
set (
i.e. t
rade
dat
e ac
coun
ting
is a
dopt
ed).
Fi
nanc
ial i
nstr
umen
ts a
re in
itial
ly m
easu
red
at fa
ir va
lue
plus
tran
sact
ion
cost
s, e
xcep
t whe
re
the
inst
rum
ent i
s cl
assi
fi ed
‘at f
air v
alue
thro
ugh
profi
t o
f los
s’, i
n w
hich
cas
e tr
ansa
ctio
n co
sts
are
expe
nsed
to p
rofi
t or l
oss
imm
edia
tely
.
Cl
assi
fi ca
tion
and
Subs
eque
nt M
easu
rem
ent
Fi
nanc
ial i
nstr
umen
ts a
re s
ubse
quen
tly m
easu
red
at fa
ir va
lue,
am
ortis
ed c
ost u
sing
the
effe
ctiv
e in
tere
st ra
te m
etho
d, o
r cos
t.
A
mor
tised
cos
t is
calc
ulat
ed a
s:
(a
) th
e am
ount
at w
hich
the
fi na
ncia
l ass
et o
r fi n
anci
al li
abili
ty is
mea
sure
d at
initi
al
reco
gniti
on;
(b
) le
ss p
rinci
pal r
epay
men
ts a
nd a
ny re
duct
ion
for i
mpa
irmen
t; an
d
(c
) pl
us o
r min
us th
e cu
mul
ativ
e am
ortis
atio
n of
the
diff
eren
ce, i
f any
, bet
wee
n th
e am
ount
in
itial
ly re
cogn
ised
and
the
mat
urity
am
ount
cal
cula
ted
usin
g th
e ef
fect
ive
inte
rest
rate
m
etho
d.
Th
e ef
fect
ive
inte
rest
met
hod
used
is to
allo
cate
inte
rest
inco
me
or in
tere
st e
xpen
se o
ver t
he
rele
vant
per
iod
and
is e
quiv
alen
t to
the
rate
that
dis
coun
ts e
stim
ated
futu
re c
ash
paym
ents
or
rece
ipts
(inc
ludi
ng fe
es, t
rans
actio
n co
sts
and
othe
r pre
miu
ms
or d
isco
unts
) thr
ough
the
expe
cted
life
(or w
hen
this
can
not b
e re
liabl
y pr
edic
ted,
the
cont
ract
ual t
erm
) of t
he fi
nanc
ial
inst
rum
ent t
o th
e ne
t car
ryin
g am
ount
of t
he fi
nanc
ial a
sset
or fi
nan
cial
liab
ility
. Rev
isio
ns
to e
xpec
ted
futu
re n
et c
ash
fl ow
s w
ill n
eces
sita
te a
n ad
just
men
t to
the
carr
ying
val
ue w
ith a
co
nseq
uent
ial r
ecog
nitio
n of
an
inco
me
or e
xpen
se in
pro
fi t o
r los
s.
(i
) Fi
nanc
ial a
sset
s at
fair
valu
e th
roug
h pr
ofi t
and
loss
Fina
ncia
l ass
ets
are
clas
sifi
ed a
t “fa
ir va
lue
thro
ugh
profi
t o
r los
s” w
hen
they
are
hel
d fo
r tra
ding
for t
he p
urpo
se o
f sho
rt-t
erm
pro
fi t t
akin
g. S
uch
asse
ts a
re s
ubse
quen
tly
mea
sure
d at
fair
valu
e w
ith c
hang
es in
car
ryin
g am
ount
bei
ng in
clud
ed in
pro
fi t o
r los
s.
Ass
ets
in th
is c
ateg
ory
are
clas
sifi
ed a
s cu
rren
t ass
ets.
(i
i) L
oans
and
rece
ivab
les
Loan
s an
d re
ceiv
able
s ar
e no
n-de
rivat
ive
fi na
ncia
l ass
ets
with
fi xe
d or
det
erm
inab
le
paym
ents
tha
t ar
e n
ot q
uote
d in
an
act
ive
mar
ket
and
are
sub
sequ
ently
mea
sure
d
at a
mor
tised
cos
t. G
ains
or l
osse
s ar
e re
cogn
ised
in p
rofi
t or l
oss.
Loa
ns a
nd re
ceiv
able
s ar
e in
clud
ed in
cur
rent
ass
ets
whe
re th
ey a
re e
xpec
ted
to m
atur
e w
ithin
12
mon
ths
afte
r th
e en
d of
the
repo
rtin
g pe
riod.
63Notes to and Forming Part of the Financial Report
(i
ii) H
eld-
to-m
atur
ity in
vest
men
ts
Hel
d-to
-mat
urity
inve
stm
ents
are
non
-der
ivat
ive
fi na
ncia
l ass
ets
with
fi xe
d m
atur
ities
an
d fi
xed
or d
eter
min
able
pay
men
ts th
at th
e To
wn
has
the
posi
tive
inte
ntio
n an
d ab
ility
to
hol
d to
mat
urity
. The
y ar
e su
bseq
uent
ly m
easu
red
at a
mor
tised
cos
t. G
ains
or l
osse
s ar
e re
cogn
ised
in p
rofi
t or l
oss.
Hel
d-to
-mat
urity
inve
stm
ents
are
incl
uded
in c
urre
nt a
sset
s w
here
they
are
exp
ecte
d to
m
atur
e w
ithin
12
mon
ths
afte
r the
end
of t
he re
port
ing
perio
d. A
ll ot
her i
nves
tmen
ts a
re
clas
sifi
ed a
s no
n-cu
rren
t.
(i
v)
Ava
ilabl
e-fo
r-sa
le fi
nanc
ial a
sset
s
Ava
ilabl
e-fo
r-sa
le fi
nanc
ial a
sset
s ar
e no
n-de
rivat
ive
fi na
ncia
l ass
ets
that
are
eith
er n
ot
suita
ble
to b
e cl
assi
fi ed
into
oth
er c
ateg
orie
s of
fi na
ncia
l ass
ets
due
to th
eir n
atur
e, o
r th
ey a
re d
esig
nate
d as
suc
h by
man
agem
ent.
They
com
pris
e in
vest
men
ts in
the
equi
ty o
f ot
her e
ntiti
es w
here
ther
e is
nei
ther
a fi
xed
mat
urity
nor
fi xe
d or
det
erm
inab
le p
aym
ents
.
They
are
sub
sequ
ently
mea
sure
d at
fair
valu
e w
ith c
hang
es in
suc
h fa
ir va
lue
(i.e
. gai
ns o
r lo
sses
) rec
ogni
sed
in o
ther
com
preh
ensi
ve in
com
e (e
xcep
t for
impa
irmen
t los
ses)
. Whe
n th
e fi
nanc
ial a
sset
is d
erec
ogni
sed,
the
cum
ulat
ive
gain
or l
oss
pert
aini
ng to
that
ass
et
prev
ious
ly re
cogn
ised
in o
ther
com
preh
ensi
ve in
com
e is
recl
assi
fi ed
into
pro
fi t o
r los
s.
Ava
ilabl
e-fo
r-sa
le fi
nanc
ial a
sset
s ar
e in
clud
ed in
cur
rent
ass
ets,
whe
re th
ey a
re e
xpec
ted
to b
e so
ld w
ithin
12
mon
ths
afte
r the
end
of t
he re
port
ing
perio
d. A
ll ot
her a
vaila
ble-
for-
sale
fi na
ncia
l ass
ets
are
clas
sifi
ed a
s no
n-cu
rren
t.
(v
) Fi
nanc
ial l
iabi
litie
s
Non
-der
ivat
ive
fi na
ncia
l lia
bilit
ies
(exc
ludi
ng fi
nanc
ial g
uara
ntee
s) a
re s
ubse
quen
tly
mea
sure
d at
am
ortis
ed c
ost.
Gai
ns o
r los
ses
are
reco
gnis
ed in
pro
fi t o
r los
s.
Im
pairm
ent
A
fi na
ncia
l ass
et is
dee
med
to b
e im
paire
d if,
and
onl
y if,
ther
e is
obj
ectiv
e ev
iden
ce o
f im
pairm
ent a
s a
resu
lt of
one
or m
ore
even
ts (a
“los
s ev
ent”
) hav
ing
occu
rred
, whi
ch h
as a
n im
pact
on
the
estim
ated
futu
re c
ash
fl ow
s of
the
fi na
ncia
l ass
et(s
).
In
the
case
of a
vaila
ble-
for-
sale
fi na
ncia
l ass
ets,
a s
igni
fi ca
nt o
r pro
long
ed d
eclin
e in
the
mar
ket v
alue
of t
he in
stru
men
t is
cons
ider
ed a
loss
eve
nt. I
mpa
irmen
t los
ses
are
reco
gnis
ed
in p
rofi
t or l
oss
imm
edia
tely
. Als
o, a
ny c
umul
ativ
e de
clin
e in
fair
valu
e pr
evio
usly
reco
gnis
ed
in o
ther
com
preh
ensi
ve in
com
e is
recl
assi
fi ed
to p
rofi
t or l
oss
at th
is p
oint
.
In
the
case
of fi
nan
cial
ass
ets
carr
ied
at a
mor
tised
cos
t, lo
ss e
vent
s m
ay in
clud
e: in
dica
tions
th
at th
e de
btor
s or
a g
roup
of d
ebto
rs a
re e
xper
ienc
ing
sign
ifi ca
nt fi
nanc
ial d
iffi
culty
, def
ault
or d
elin
quen
cy in
inte
rest
or p
rinci
pal p
aym
ents
; ind
icat
ions
that
they
will
ent
er b
ankr
uptc
y or
ot
her fi
nan
cial
reor
gani
satio
n; a
nd c
hang
es in
arr
ears
or e
cono
mic
con
ditio
ns th
at c
orre
late
w
ith d
efau
lts.
Fo
r fi n
anci
al a
sset
s ca
rrie
d at
am
ortis
ed c
ost (
incl
udin
g lo
ans
and
rece
ivab
les)
, a s
epar
ate
allo
wan
ce a
ccou
nt is
use
d to
redu
ce th
e ca
rryi
ng a
mou
nt o
f fi n
anci
al a
sset
s im
paire
d by
cre
dit l
osse
s. A
fter
hav
ing
take
n al
l pos
sibl
e m
easu
res
of re
cove
ry, i
f man
agem
ent
esta
blis
hes
that
the
carr
ying
am
ount
can
not b
e re
cove
red
by a
ny m
eans
, at t
hat p
oint
th
e w
ritte
n-of
f am
ount
s ar
e ch
arge
d to
the
allo
wan
ce a
ccou
nt o
r the
car
ryin
g am
ount
of
impa
ired
fi na
ncia
l ass
ets
is re
duce
d di
rect
ly if
no
impa
irmen
t am
ount
was
pre
viou
sly
reco
gnis
ed in
the
allo
wan
ce a
ccou
nt.
D
erec
ogni
tion
Fi
nanc
ial a
sset
s ar
e de
reco
gnis
ed w
here
the
cont
ract
ual r
ight
s to
rece
ipt o
f cas
h fl
ows
expi
re
or th
e as
set i
s tr
ansf
erre
d to
ano
ther
par
ty w
here
by th
e To
wn
no lo
nger
has
any
sig
nifi
cant
co
ntin
ual i
nvol
vem
ent i
n th
e ris
ks a
nd b
enefi
ts
asso
ciat
ed w
ith th
e as
set.
Fi
nanc
ial l
iabi
litie
s ar
e de
reco
gnis
ed w
here
the
rela
ted
oblig
atio
ns a
re d
isch
arge
d, c
ance
lled
or e
xpire
d. T
he d
iffe
renc
e be
twee
n th
e ca
rryi
ng a
mou
nt o
f the
fi na
ncia
l lia
bilit
y ex
tingu
ishe
d or
tran
sfer
red
to a
noth
er p
arty
and
the
fair
valu
e of
the
cons
ider
atio
n pa
id, i
nclu
ding
the
tran
sfer
of n
on-c
ash
asse
ts o
r lia
bilit
ies
assu
med
, is
reco
gnis
ed in
pro
fi t o
r los
s.
(l)
Impa
irmen
t of A
sset
s
In
acc
orda
nce
with
Aus
tral
ian
Acc
ount
ing
Stan
dard
s th
e To
wn’
s as
sets
, oth
er th
an in
vent
orie
s,
are
asse
ssed
at e
ach
repo
rtin
g da
te to
det
erm
ine
whe
ther
ther
e is
any
indi
catio
n th
ey m
ay b
e im
paire
d.
W
here
suc
h an
indi
catio
n ex
ists
, an
impa
irmen
t tes
t is
carr
ied
out o
n th
e as
set b
y co
mpa
ring
the
reco
vera
ble
amou
nt o
f the
ass
et, b
eing
the
high
er o
f the
ass
et’s
fair
valu
e le
ss c
osts
to s
ell
and
valu
e in
use
, to
the
asse
t’s c
arry
ing
amou
nt.
A
ny e
xces
s of
the
asse
t’s c
arry
ing
amou
nt o
ver i
ts re
cove
rabl
e am
ount
is re
cogn
ised
im
med
iate
ly in
pro
fi t o
r los
s, u
nles
s th
e as
set i
s ca
rrie
d at
a re
valu
ed a
mou
nt in
acc
orda
nce
with
ano
ther
sta
ndar
d (e
.g. A
ASB
116
) whe
reby
any
impa
irmen
t los
s o
f a
reva
lued
ass
et is
tr
eate
d as
a re
valu
atio
n de
crea
se in
acc
orda
nce
with
that
oth
er s
tand
ard.
Fo
r non
-cas
h ge
nera
ting
asse
ts s
uch
as ro
ads,
dra
ins,
pub
lic b
uild
ings
and
the
like,
val
ue in
us
e is
repr
esen
ted
by th
e de
prec
iate
d re
plac
emen
t cos
t of t
he a
sset
.
(m) L
ease
s
Le
ases
of fi
xed
ass
ets
whe
re s
ubst
antia
lly a
ll th
e ris
ks a
nd b
enefi
ts
inci
dent
al to
the
owne
rshi
p of
the
asse
t, bu
t not
lega
l ow
ners
hip,
are
tran
sfer
red
to th
e To
wn,
are
cla
ssifi
ed a
s fi
nanc
e le
ases
.
Fi
nanc
e le
ases
are
cap
italis
ed re
cord
ing
an a
sset
and
a li
abili
ty a
t the
low
er a
mou
nts
equa
l to
the
fair
valu
e of
the
leas
ed p
rope
rty
or th
e pr
esen
t val
ue o
f the
min
imum
leas
e pa
ymen
ts,
incl
udin
g an
y gu
aran
teed
resi
dual
val
ues.
Lea
se p
aym
ents
are
allo
cate
d be
twee
n th
e re
duct
ion
of th
e le
ase
liabi
lity
and
the
leas
e in
tere
st e
xpen
se fo
r the
per
iod.
Lea
sed
asse
ts
are
depr
ecia
ted
on a
str
aigh
t lin
e ba
sis
over
the
shor
ter o
f the
ir es
timat
ed u
sefu
l liv
es o
r the
le
ase
term
.
64 Town of Cambridge Annual Report 2015-2016
Le
ase
paym
ents
for o
pera
ting
leas
es, w
here
sub
stan
tially
all
the
risks
and
ben
efi t
s re
mai
n w
ith th
e le
ssor
, are
cha
rged
as
expe
nses
in th
e pe
riods
in w
hich
they
are
incu
rred
. Le
ase
ince
ntiv
es u
nder
ope
ratin
g le
ases
are
reco
gnis
ed a
s a
liabi
lity
and
amor
tised
on
a st
raig
ht li
ne
basi
s ov
er th
e lif
e of
the
leas
e te
rm.
(n)
Empl
oyee
Ben
efi t
s
(i
) Le
ave
Entit
lem
ents
Ann
ual L
eave
and
Lon
g Se
rvic
e Le
ave
(Sho
rt T
erm
Ben
efi t
s)
Prov
isio
n is
mad
e fo
r the
Tow
n’s
oblig
atio
ns fo
r sho
rt te
rm e
mpl
oyee
ben
efi t
s. S
hort
te
rm e
mpl
oyee
ben
efi t
s ar
e be
nefi
ts (o
ther
than
term
inat
ion
bene
fi ts
) tha
t are
exp
ecte
d to
be
sett
led
who
lly b
efor
e 12
mon
ths
afte
r the
end
of t
he a
nnua
l rep
ortin
g pe
riod
in
whi
ch th
e em
ploy
ees
rend
er th
e re
late
d se
rvic
e, in
clud
ing
wag
es, s
alar
ies
and
sick
lea
ve.
Shor
t ter
m e
mpl
oyee
ben
efi t
s ar
e m
easu
red
at th
e (u
ndis
coun
ted)
am
ount
s ex
pect
ed to
be
pai
d w
hen
the
oblig
atio
n is
set
tled.
The
Tow
n’s
oblig
atio
ns fo
r sho
rt te
rm e
mpl
oyee
ben
efi t
s su
ch a
s w
ages
, sal
arie
s an
d si
ck
leav
e ar
e re
cogn
ised
as
a pa
rt o
f cur
rent
trad
e an
d ot
her p
ayab
les
in th
e St
atem
ent o
f Fi
nanc
ial P
ositi
on.
The
Tow
n’s
oblig
atio
ns fo
r em
ploy
ees’
ann
ual l
eave
and
long
ser
vice
le
ave
entit
lem
ents
are
reco
gnis
ed a
s pr
ovis
ions
in th
e St
atem
ent o
f Fin
anci
al P
ositi
on.
Ann
ual L
eave
and
Lon
g Se
rvic
e Le
ave
(Lon
g Te
rm B
enefi
ts)
Prov
isio
n is
mad
e fo
r em
ploy
ees’
long
ser
vice
leav
e an
d an
nual
leav
e en
title
men
ts n
ot
expe
cted
to b
e se
ttle
d w
holly
with
in 1
2 m
onth
s af
ter t
he e
nd o
f the
ann
ual r
epor
ting
perio
d in
whi
ch th
e em
ploy
ees
rend
er th
e re
late
d se
rvic
e. O
ther
long
term
em
ploy
ee
bene
fi ts
are
mea
sure
d at
the
pres
ent v
alue
of t
he p
rese
nt v
alue
of t
he e
xpec
ted
futu
re
paym
ents
to b
e m
ade
to e
mpl
oyee
s. E
xpec
ted
futu
re p
aym
ents
inco
rpor
ate
antic
ipat
ed
futu
re w
age
and
sala
ry le
vels
, dur
atio
ns o
r ser
vice
and
em
ploy
ee d
epar
ture
s an
d ar
e di
scou
nted
at r
ates
det
erm
ined
by
refe
renc
e to
mar
ket y
ield
s at
the
end
of th
e re
port
ing
perio
d on
gov
ernm
ent b
onds
that
hav
e m
atur
ity d
ates
that
app
roxi
mat
e th
e te
rms
of th
e ob
ligat
ions
. A
ny re
mea
sure
men
ts fo
r cha
nges
in a
ssum
ptio
ns o
f obl
igat
ions
for o
ther
lo
ng te
rm e
mpl
oyee
ben
efi t
s ar
e re
cogn
ised
in p
rofi
t or l
oss
in th
e pe
riods
in w
hich
the
chan
ges
occu
r.
The
Tow
n’s
oblig
atio
ns fo
r lon
g te
rm e
mpl
oyee
ben
efi t
s ar
e pr
esen
ted
as n
on-c
urre
nt
prov
isio
ns in
its
Stat
emen
t of F
inan
cial
Pos
ition
, exc
ept w
here
the
Tow
n do
es n
ot h
ave
an u
ncon
ditio
nal r
ight
to d
efer
set
tlem
ent f
or a
t lea
st 1
2 m
onth
s af
ter t
he e
nd o
f the
re
port
ing
perio
d, in
whi
ch c
ase
the
oblig
atio
ns a
re p
rese
nted
as
curr
ent p
rovi
sion
s.
(i
i) S
uper
annu
atio
n
The
Tow
n m
eets
the
stat
utor
y re
quire
men
ts o
f the
Sup
eran
nuat
ion
Gua
rant
ee A
ct b
y co
ntrib
utin
g th
e m
inim
um 9
.50%
to th
e W
A L
ocal
Gov
ernm
ent S
uper
annu
atio
n Pl
an o
r th
e Ci
ty o
f Per
th S
uper
annu
atio
n Sc
hem
e de
pend
ing
on th
e em
ploy
ee’s
mem
bers
hip
stat
us. T
he T
own
also
con
trib
utes
an
addi
tiona
l 5%
to th
e W
A L
ocal
Gov
ernm
ent
Supe
rann
uatio
n Pl
an a
nd a
n ad
ditio
nal 5
% to
the
City
of P
erth
Sup
eran
nuat
ion
Sche
me
whe
re v
olun
tary
con
trib
utio
ns a
re m
ade
by e
mpl
oyee
s.
The
Tow
n co
ntrib
utio
ns a
re c
harg
ed a
gain
st re
venu
e in
the
fi na
ncia
l yea
rs to
whi
ch th
e pa
ymen
ts re
late
.
(o)
Borr
owin
g Co
sts
Bo
rrow
ing
cost
s ar
e re
cogn
ised
as
an e
xpen
se w
hen
incu
rred
exc
ept w
here
they
are
dire
ctly
at
trib
utab
le to
the
acqu
isiti
on, c
onst
ruct
ion
or p
rodu
ctio
n of
a q
ualif
ying
ass
et.
Whe
re th
is is
th
e ca
se, t
hey
are
capi
talis
ed a
s pa
rt o
f the
cos
t of t
he p
artic
ular
ass
et u
ntil
such
tim
e as
the
asse
t is
subs
tant
ially
read
y fo
r its
inte
nded
use
or s
ale.
(p)
Trad
e an
d O
ther
Pay
able
s
Tr
ade
and
othe
r pay
able
s re
pres
ent l
iabi
litie
s fo
r goo
ds a
nd s
ervi
ces
prov
ided
to th
e To
wn
prio
r to
the
end
of th
e fi
nanc
ial y
ear t
hat a
re u
npai
d an
d ar
ise
whe
n th
e To
wn
beco
mes
ob
liged
to m
ake
futu
re p
aym
ents
in re
spec
t of t
he p
urch
ase
of th
ese
good
s an
d se
rvic
es.
The
amou
nts
are
unse
cure
d, a
re re
cogn
ised
as
a cu
rren
t lia
bilit
y an
d ar
e no
rmal
ly p
aid
with
in
thirt
y da
ys o
f rec
ogni
tion.
(q)
Prov
isio
ns
Pr
ovis
ions
are
reco
gnis
ed w
hen
the
Tow
n ha
s a
pres
ent l
egal
or c
onst
ruct
ive
oblig
atio
n as
a
resu
lt of
pas
t eve
nts;
for w
hich
it is
pro
babl
e th
at a
n ou
tfl o
w o
f eco
nom
ic b
enefi
ts
will
resu
lt an
d th
at o
utfl
ow c
an b
e re
liabl
y m
easu
red.
Pr
ovis
ions
are
mea
sure
d us
ing
the
best
est
imat
e of
the
amou
nts
requ
ired
to s
ettle
the
oblig
atio
n at
the
end
of th
e re
port
ing
perio
d.
(r)
Inve
stm
ents
in A
ssoc
iate
s
A
n as
soci
ate
is a
n en
tity
over
whi
ch th
e To
wn
has
sign
ifi ca
nt in
fl ue
nce.
Sig
nifi
cant
infl
uenc
e is
the
pow
er to
par
ticip
ate
in th
e fi
nanc
ial o
pera
ting
polic
y de
cisi
ons
of th
at e
ntity
but
is n
ot
cont
rol o
r joi
nt c
ontr
ol o
f tho
se p
olic
ies.
Inve
stm
ents
in a
ssoc
iate
s ar
e ac
coun
ted
for i
n th
e fi
nanc
ial s
tate
men
ts b
y ap
plyi
ng th
e eq
uity
met
hod
of a
ccou
ntin
g, w
here
by th
e in
vest
men
t is
initi
ally
reco
gnis
ed a
t cos
t and
adj
uste
d th
erea
fter
for t
he p
ost-
acqu
isiti
on c
hang
e in
the
Tow
n’s
shar
e of
net
ass
ets
of th
e as
soci
ate.
In a
dditi
on, t
he T
own’
s sh
are
of th
e pr
ofi t
or l
oss
of th
e as
soci
ate
is in
clud
ed in
the
Tow
n’s
profi
t o
r los
s.
Th
e ca
rryi
ng a
mou
nt o
f the
inve
stm
ent i
nclu
des,
whe
re a
pplic
able
, goo
dwill
rela
ting
to th
e as
soci
ate.
Any
dis
coun
t on
acqu
isiti
on, w
here
by th
e To
wn’
s sh
are
of th
e ne
t fai
r val
ue o
f the
as
soci
ate
exce
eds
the
cost
of i
nves
tmen
t, is
reco
gnis
ed in
pro
fi t o
r los
s in
the
perio
d in
whi
ch
the
inve
stm
ent i
s ac
quire
d.
Pr
ofi t
s an
d lo
sses
resu
lting
from
tran
sact
ions
bet
wee
n th
e To
wn
and
the
asso
ciat
e ar
e el
imin
ated
to th
e ex
tent
of t
he T
own’
s in
tere
st in
the
asso
ciat
e.
65Notes to and Forming Part of the Financial Report
W
hen
the
Tow
n’s
shar
e of
loss
es in
an
asso
ciat
e eq
uals
or e
xcee
ds it
s in
tere
st in
the
asso
ciat
e,
the
Tow
n di
scon
tinue
s re
cogn
isin
g its
sha
re o
f fur
ther
loss
es u
nles
s it
has
incu
rred
lega
l or
cons
truc
tive
oblig
atio
ns o
r mad
e pa
ymen
ts o
n be
half
of th
e as
soci
ate.
Whe
n th
e as
soci
ate
subs
eque
ntly
mak
es p
rofi
ts, t
he T
own
will
resu
me
reco
gnis
ing
its s
hare
of t
hose
pro
fi ts
onc
e its
sha
re o
f the
pro
fi ts
equ
als
the
shar
e of
the
loss
es n
ot re
cogn
ised
.
(s)
Inte
rest
s in
Joi
nt A
rran
gem
ents
Jo
int a
rran
gem
ents
repr
esen
t the
con
trac
tual
sha
ring
of c
ontr
ol b
etw
een
part
ies
in a
bus
ines
s ve
ntur
e w
here
una
nim
ous
deci
sion
s ab
out r
elev
ant a
ctiv
ities
are
requ
ired.
Se
para
te jo
int v
entu
re e
ntiti
es p
rovi
ding
join
t ven
ture
rs w
ith a
n in
tere
st to
net
ass
ets
are
clas
sifi
ed a
s a
join
t ven
ture
and
acc
ount
ed fo
r usi
ng th
e eq
uity
met
hod.
Ref
er to
not
e 1(
r) fo
r a
desc
riptio
n of
the
equi
ty m
etho
d of
acc
ount
ing.
Jo
int v
entu
re o
pera
tions
repr
esen
t arr
ange
men
ts w
here
by jo
int o
pera
tors
mai
ntai
n di
rect
in
tere
sts
in e
ach
asse
t and
exp
osur
e to
eac
h lia
bilit
y of
the
arra
ngem
ent.
The
Tow
n’s
inte
rest
s in
the
asse
ts, l
iabi
litie
s, re
venu
e an
d ex
pens
es o
f joi
nt o
pera
tions
are
incl
uded
in th
e re
spec
tive
line
item
s of
the
fi na
ncia
l sta
tem
ents
. Inf
orm
atio
n ab
out t
he jo
int v
entu
res
is s
et
out i
n no
tes
acco
mpa
nyin
g th
e fi
nanc
ial r
epor
t.
(t)
Trad
e an
d ot
her R
ecei
vabl
es
Tr
ade
rece
ivab
les
and
othe
r rec
eiva
bles
incl
ude
amou
nts
due
from
rate
paye
rs fo
r unp
aid
rate
s an
d se
rvic
e ch
arge
s an
d ot
her a
mou
nts
due
from
third
par
ties
for g
oods
sol
d an
d se
rvic
es p
erfo
rmed
in th
e or
dina
ry c
ours
e of
bus
ines
s.
Re
ceiv
able
s ex
pect
ed to
be
colle
cted
with
in 1
2 m
onth
s of
the
end
of th
e re
port
ing
perio
d ar
e cl
assi
fi ed
as
curr
ent a
sset
s. A
ll ot
her r
ecei
vabl
es a
re c
lass
ifi ed
as
non-
curr
ent a
sset
s.
Co
llect
abili
ty o
f tra
de a
nd o
ther
rece
ivab
les
is re
view
ed o
n an
ong
oing
bas
is.
Deb
ts th
at a
re
know
n to
be
unco
llect
able
are
writ
ten
off w
hen
iden
tifi e
d. A
n al
low
ance
for d
oubt
ful d
ebts
is
rais
ed w
hen
ther
e is
obj
ectiv
e ev
iden
ce th
at th
ey w
ill n
ot b
e co
llect
able
.
(u)
Roun
ding
A
ll fi
gure
s sh
own
in th
e fi
nanc
ial r
epor
t, ot
her t
han
a ra
te in
the
dolla
r, ar
e ro
unde
d to
the
near
est d
olla
r.
(v)
Com
para
tives
W
here
requ
ired,
com
para
tive
fi gu
res
have
bee
n ad
just
ed to
con
form
with
cha
nges
in th
e pr
esen
tatio
n fo
r the
cur
rent
fi na
ncia
l yea
r.
W
hen
the
Tow
n ap
plie
s an
acc
ount
ing
polic
y re
tros
pect
ivel
y, m
akes
a re
tros
pect
ive
rest
atem
ent o
r rec
lass
ifi es
item
s in
its
fi na
ncia
l sta
tem
ent,
an a
dditi
onal
(thi
rd) s
tate
men
t of
fi na
ncia
l pos
ition
as
at th
e be
ginn
ing
of th
e pr
eced
ing
perio
d in
add
ition
to th
e m
inim
um
com
para
tive
fi na
ncia
l sta
tem
ents
is p
rese
nted
.
U
nles
s ot
herw
ise
stat
ed, t
he b
udge
t com
para
tive
fi gu
res
show
n in
this
ann
ual fi
nan
cial
repo
rt
rela
te to
the
orig
inal
bud
get e
stim
ate
for t
he re
leva
nt it
em o
f dis
clos
ure.
(w) C
urre
nt a
nd N
on-C
urre
nt C
lass
ifi ca
tion
In
the
dete
rmin
atio
n of
whe
ther
an
asse
t or l
iabi
lity
is c
urre
nt o
r non
-cur
rent
, con
side
ratio
n is
giv
en to
tim
e w
hen
each
ass
et o
r lia
bilit
y is
exp
ecte
d to
be
sett
led.
The
ass
et o
r lia
bilit
y is
cl
assi
fi ed
as
curr
ent i
f it i
s ex
pect
ed to
be
sett
led
with
in th
e ne
xt 1
2 m
onth
s, b
eing
the
Tow
n’s
oper
atio
nal c
ycle
. In
the
case
of l
iabi
litie
s w
here
the
Tow
n do
es n
ot h
ave
unco
nditi
onal
righ
t to
def
er s
ettle
men
t bey
ond
12 m
onth
s, s
uch
as v
este
d lo
ng s
ervi
ce le
ave,
the
liabi
lity
is
clas
sifi
ed a
s cu
rren
t eve
n if
not
exp
ecte
d to
be
real
ised
in th
e ne
xt 1
2 m
onth
s. I
nven
torie
s he
ld fo
r tra
ding
are
cla
ssifi
ed a
s cu
rren
t eve
n if
not
exp
ecte
d to
be
real
ised
in th
e ne
xt 1
2
mon
ths
exce
pt fo
r lan
d he
ld fo
r sal
e w
here
it is
hel
d as
non
-cur
rent
bas
ed o
n th
e To
wn’
s in
tent
ions
to re
leas
e fo
r sal
e.
(x)
Inte
rest
in J
oint
Ven
ture
Th
e To
wn
is a
par
ticip
ant i
n bo
th th
e M
inda
rie R
egio
nal C
ounc
il an
d Ta
mal
a Pa
rk R
egio
nal
Coun
cil w
ith s
ix o
ther
Cou
ncils
, nam
ely
the
Citie
s of
Joo
ndal
up, W
anne
roo,
Stir
ling,
Per
th a
nd
Vin
cent
and
the
Tow
n of
Vic
toria
Par
k.
In
tere
st in
Joi
nt V
entu
re is
acc
ount
ed fo
r by
appl
ying
the
equi
ty m
etho
d. U
nder
this
met
hod
of a
ccou
ntin
g in
tere
st in
a jo
intly
con
trol
led
entit
y is
initi
ally
reco
rded
at c
ost a
nd a
djus
ted
ther
eaft
er fo
r the
pos
t acq
uisi
tion
chan
ge in
the
vent
urer
’s s
hare
of n
et a
sset
s of
the
join
tly
cont
rolle
d en
tity.
Fo
r fur
ther
det
ails
rela
ting
to th
e In
tere
st in
Joi
nt V
entu
re re
fer t
o no
te 3
1.
(y)
Ado
ptio
n of
New
and
Rev
ised
Acc
ount
ing
Stan
dard
s
D
urin
g th
e cu
rren
t yea
r, th
e To
wn
adop
ted
all o
f the
new
and
revi
sed
Aus
tral
ian
Acc
ount
ing
Stan
dard
s an
d In
terp
reta
tions
whi
ch w
ere
com
pile
d, b
ecam
e m
anda
tory
and
whi
ch w
ere
appl
icab
le to
its
oper
atio
ns.
Th
ese
new
and
revi
sed
stan
dard
s w
ere
as fo
llow
s:
(i
) A
ASB
201
5-3
Am
endm
ents
to A
ustr
alia
n A
ccou
ntin
g St
anda
rds
aris
ing
from
the
with
draw
al o
f AA
SB 1
031
Mat
eria
lity
(i
i) A
ASB
201
5-7
Am
endm
ents
to A
ustr
alia
n A
ccou
ntin
g St
anda
rds
- Fa
ir Va
lue
Dis
clos
ures
of
Not
-for
-Pr
ofi t
Pub
lic S
ecto
r Ent
ities
M
ost o
f the
Sta
ndar
ds a
dopt
ed h
ad a
min
imal
eff
ect o
n th
e ac
coun
ting
and
repo
rtin
g pr
actic
es o
f the
Tow
n as
they
did
not
hav
e a
sign
ifi ca
nt im
pact
on
the
acco
untin
g or
repo
rtin
g pr
actic
es o
r wer
e ei
ther
not
app
licab
le, l
arge
ly e
dito
rial i
n na
ture
, w
ere
revi
sion
s to
hel
p en
sure
con
sist
ency
with
pre
sent
atio
n, re
cogn
ition
and
mea
sure
men
t crit
eria
of I
FRSs
or
rela
ted
to to
pics
not
rele
vant
to o
pera
tions
.
66 Town of Cambridge Annual Report 2015-2016
(z)
New
Acc
ount
ing
Stan
dard
s an
d In
terp
reta
tions
for A
pplic
atio
n in
Fut
ure
Perio
ds
Th
e A
ustr
alia
n A
ccou
ntin
g St
anda
rds
Boar
d ha
s is
sued
a n
umbe
r of n
ew a
nd a
men
ded
Acc
ount
ing
Stan
dard
s an
d In
terp
reta
tions
that
hav
e m
anda
tory
app
licat
ion
date
s fo
r fut
ure
repo
rtin
g pe
riods
, so
me
of w
hich
are
rele
vant
to th
e To
wn.
M
anag
emen
t’s a
sses
smen
t of t
he n
ew a
nd a
men
ded
pron
ounc
emen
ts th
at a
re re
leva
nt to
the
Tow
n, a
pplic
able
to fu
ture
repo
rtin
g pe
riods
and
whi
ch h
ave
not y
et b
een
adop
ted
are
set o
ut a
s fo
llow
s:
Title
Issu
edA
pplic
able
Impa
ct
(i)
AA
SB 9
Fin
anci
al In
stru
men
ts
(inc
orpo
ratin
g A
ASB
20
14-7
and
A
ASB
20
14·8
)
Dec 14
Jan
18
Nil
-The
obj
ectiv
e of
this
Sta
ndar
d is
to im
prov
e an
d si
mpl
ify
the
appr
oach
for c
lass
ifi ca
tion
and
mea
sure
men
t of fi
nan
cial
ass
ets
com
pare
d w
ith th
e re
quire
men
ts o
f AA
SB 1
39. G
iven
the
natu
re o
f the
fi na
ncia
l ass
ets
of th
e To
wn,
it is
not
ant
icip
ated
the
Stan
dard
w
ill h
ave
any
mat
eria
l eff
ect.
(ii)
AA
SB 1
5 R
even
ue fr
om C
ontr
acts
Cu
stom
ers
Dec 14
Jan
17Th
is S
tand
ard
esta
blis
hes
prin
cipl
es fo
r ent
ities
to a
pply
to re
port
use
ful i
nfor
mat
ion
to u
sers
of fi
nan
cial
sta
tem
ents
abo
ut th
e na
ture
, am
ount
, tim
ing
and
unce
rtai
nty
of re
venu
e an
d ca
sh fl
ows
aris
ing
from
a c
ontr
act w
ith a
cus
tom
er. T
he e
ffec
t of t
his
Stan
dard
will
de
pend
upo
n th
e na
ture
of f
utur
e tr
ansa
ctio
ns th
e To
wn
has
with
thos
e th
ird p
artie
s it
has
deal
ings
with
. lt m
ay o
r may
not
be
sign
ifi ca
nt.
(iii)
AA
SB 1
6 Le
ases
Feb
16Ja
n19
Und
er A
ASB
16
ther
e is
no
long
er a
dis
tinct
ion
betw
een
fi na
nce
and
oper
atin
g le
ases
. Les
sees
will
now
brin
g to
acc
ount
a ri
ght-
to-u
se a
sset
and
leas
e lia
bilit
y on
to th
eir s
tate
men
t of fi
nan
cial
pos
ition
for a
ll le
ases
. Eff
ectiv
ely
this
mea
ns th
e va
st m
ajor
ity o
f op
erat
ing
leas
es a
s de
fi ne
d by
the
curr
ent A
ASB
117
Lea
ses
whi
ch c
urre
ntly
do
not i
mpa
ct th
e st
atem
ent o
f fi n
anci
al p
ositi
on w
ill b
e re
quire
d to
be
capi
talis
ed o
n th
e st
atem
ent o
f fi n
anci
al p
ositi
on o
nce
AA
SB 1
6 is
ado
pted
.
Curr
ently
, ope
ratin
g le
ase
paym
ents
are
exp
ense
d as
incu
rred
. Thi
s w
ill c
ease
and
will
be
repl
aced
by
both
dep
reci
atio
n an
d in
tere
st
char
ges.
Bas
ed o
n th
e cu
rren
t num
ber o
f ope
ratin
g le
ases
hel
d by
the
Tow
n, th
e im
pact
is n
ot e
xpec
ted
to b
e si
gnifi
cant
.
(iv)
AA
SB 2
014·
3 A
men
dmen
ts to
A
ustr
alia
n A
ccou
ntin
g St
anda
rds
· Acc
ount
ing
for A
cqui
sitio
ns o
f In
tere
sts
in J
oint
Ope
ratio
ns [A
ASB
1
& A
ASB
11
]
Dec 14
Jan
16Th
is S
tand
ard
amen
ds A
ASB
11:
Joi
nt A
rran
gem
ents
to re
quire
the
acqu
irer o
f an
inte
rest
(bot
h in
itial
and
add
ition
al) i
n a
join
t op
erat
ion
in w
hich
the
activ
ity c
onst
itute
s a
busi
ness
, as
defi
ned
in A
ASB
3: B
usin
ess
Com
bina
tions
, to
appl
y al
l of t
he p
rinci
ples
on
busi
ness
com
bina
tions
acc
ount
ing
in A
ASB
3 a
nd o
ther
Aus
tral
ian
Acc
ount
ing
Stan
dard
s ex
cept
for t
hose
prin
cipl
es th
at c
onfl
ict
with
the
guid
ance
in A
ASB
11;
and
dis
clos
e th
e in
form
atio
n re
quire
d by
AA
SB 3
and
oth
er A
ustr
alia
n A
ccou
ntin
g St
anda
rds
for
busi
ness
com
bina
tions
. Sin
ce a
dopt
i on
of th
i s S
tand
ard
wo
uld
impa
ct o
nly
acqu
isiti
ons
of i
nter
ests
in jo
int o
pera
tions
on
or a
fter
1
Janu
ary
2016
, man
agem
ent b
elie
ves
it is
impr
actic
able
at t
his
stag
e to
pro
vide
a re
ason
able
est
imat
e of
suc
h im
pact
on
the
Tow
n’s
fi na
ncia
l sta
tem
ents
.
(v)
AA
SB 2
014
·4 A
men
dmen
ts to
A
ustr
alia
n A
ccou
ntin
g St
anda
rds
- Cl
arifi
catio
n of
Acc
epta
ble
Met
hods
of D
epre
ciat
ion
and
Am
ortis
atio
n [A
ASB
116
& 1
38)
Dec 14
Jan
16Th
is S
tand
ard
amen
ds A
ASB
116
and
AA
SB 1
38 to
est
ablis
h th
e pr
inci
ple
for t
he b
asis
of d
epre
ciat
ion
and
amor
tisat
ion
as b
eing
the
expe
cted
pat
tern
of c
onsu
mpt
ion
of th
e fu
ture
eco
nom
ic b
enefi
ts
of a
n as
set.
It al
so c
larifi
es
the
use
of re
venu
e-ba
sed
met
hods
to
calc
ulat
e th
e de
prec
iatio
n of
an
asse
t is
not a
ppro
pria
te n
or is
reve
nue
gene
rally
an
appr
opria
te b
asis
for m
easu
ri g
the
cons
umpt
ion
of th
e ec
onom
ic b
enefi
ts
embo
died
in a
n in
tang
ible
ass
et. G
iven
the
Tow
n cu
rent
ly u
ses
the
expe
cted
pat
tern
of c
onsu
mpt
ion
of th
e fu
ture
eco
nom
ic b
enefi
ts
of a
n as
set a
s th
e ba
sis
of c
alcu
latio
n of
dep
reci
atio
n, it
is n
ot e
xpec
ted
to h
ave
a si
gnifi
cant
impa
ct.
(vi)
AA
SB 2
014·
5 A
men
dmen
ts to
A
ustr
alia
n A
ccou
ntin
~ S
tand
ards
Dec 14
Jan
17Co
nseq
uent
ial c
hang
es to
var
ious
Sta
ndar
ds a
risin
g fr
om th
e is
suan
ce o
f AA
SB 1
5. It
will
requ
ire c
hang
es to
refl
ect t
he im
pact
of
AA
SB 1
5.
(vii)
AA
SB 2
015
·2 A
men
dmen
ts
to A
ustr
alia
n A
ccou
ntin
g St
anda
rds
-Dis
clos
ure
Initi
a ti
ve:
Am
endm
ents
to A
ASB
10
1 [A
ASB
7,
10
1, 1
34 &
104
9]
Jan
15Ja
n16
This
Sta
ndar
d am
ends
AA
SB 1
01 to
pro
vide
cla
rifi c
atio
n re
gard
ing
the
disc
losu
re re
quire
men
ts in
AA
SB 1
01. S
peci
fi ca
lly,
the
Stan
dard
pro
pose
s na
rrow
-foc
us a
men
dmen
ts to
add
ress
som
e of
the
conc
erns
exp
ress
ed a
bout
exi
stin
g pr
esen
tatio
n an
d di
sclo
sure
requ
irem
ents
and
to e
nsur
e en
titie
s ar
e ab
le to
use
judg
emen
t whe
n ap
plyi
ng a
Sta
ndar
d in
det
erm
inin
g w
hat
info
rmat
ion
to d
iscl
ose
in th
eir fi
nan
cial
sta
tem
ents
. Thi
s St
anda
rd a
lso
mak
es e
dito
rial a
nd c
onse
quen
tial a
men
dmen
ts a
s a
resu
lt of
am
endm
ents
to th
e St
anda
rds
liste
d in
the
title
col
umn.
It is
not
ant
icip
ated
it w
ill h
ave
any
sign
ifi ca
nt im
pact
on
disc
losu
res
as th
ey
curr
ently
exi
st a
nd a
ny c
hang
es w
ill re
late
to p
rese
ntat
ion.
(viii)
AA
SB 2
015
·6 A
men
dmen
ts to
A
ustr
alia
n A
ccou
ntin
g St
anda
rds
· Ex
tend
ing
Rela
ted
Part
y D
iscl
osur
es
to N
ot-
for -
Profi
t P
ublic
Sec
tor
Entit
ies
[AA
SB 1
0, 1
24
& 1
049)
Mar
15Ju
l16
The
obje
ctiv
e of
this
Sta
ndar
d is
to e
xten
d th
e sc
ope
of A
ASB
124
Rel
ated
Par
ty D
iscl
osur
es to
incl
ude
not-
for-
profi
t s
ecto
r ent
ities
. Th
e St
anda
rd is
exp
ecte
d to
hav
e a
sign
ifi ca
nt d
iscl
osur
e im
pact
on
the
fi na
ncia
l rep
ort o
f the
Tow
n as
bot
h El
ecte
d M
embe
rs a
nd
Seni
or M
anag
emen
t will
be
deem
ed to
be
Key
Man
agem
ent P
erso
nnel
and
resu
ltant
dis
clos
ures
will
be
nece
ssar
y.
Not
es:
(1) A
pplic
able
to re
port
ing
perio
ds c
omm
enci
ng o
n or
aft
er th
e gi
ven
date
.
67Notes to and Forming Part of the Financial Report
2. C
ompo
nent
func
tion
s/ac
tivi
ties
In o
rder
to d
isch
arge
its
resp
onsi
bilit
ies
to th
e co
mm
unity
, the
Tow
n ha
s de
velo
ped
a se
t of
oper
atio
nal a
nd fi
nanc
ial o
bjec
tives
. Th
ese
obje
ctiv
es h
ave
been
est
ablis
hed
both
on
an o
vera
ll ba
sis
refl
ecte
d by
the
Tow
n’s
Com
mun
ity S
trat
egic
Pla
n an
d fo
r eac
h of
its
broa
d ac
tiviti
es/
prog
ram
s. T
hese
obj
ectiv
es p
rovi
de a
fram
ewor
k fo
r the
futu
re d
irect
ion
of th
e To
wn
of
Cam
brid
ge a
nd in
clud
e a
focu
s on
the
follo
win
g pr
iorit
y ar
eas:
Our
Com
mun
ity
Life
• A
sen
se o
f com
mun
ity, p
ride
and
belo
ngin
g.
• Q
ualit
y lo
cal p
arks
and
ope
n sp
aces
for t
he c
omm
unity
to e
njoy
.
• A
n ac
tive,
saf
e an
d in
clus
ive
com
mun
ity.
Our
Pla
nned
Nei
ghbo
urho
ods
• N
eigh
bour
hood
s th
at a
re w
ell p
lann
ed, a
ttra
ctiv
e, re
spec
tful
of t
he c
hara
cter
and
resp
onsi
ve to
fu
ture
nee
ds.
• Su
cces
sful
com
mer
cial
, ret
ail a
nd s
ocia
l hub
s.
• Ef
fi ci
ent t
rans
port
net
wor
ks.
Our
Nat
ural
Env
ironm
ent
• Co
unci
l is
envi
ronm
enta
lly re
spon
sibl
e an
d le
ads
by e
xam
ple.
• A
com
mun
ity th
at e
mbr
aces
env
ironm
enta
lly re
spon
sibl
e pr
actic
es.
Our
Cou
ncil
• Tr
ansp
aren
t, ac
coun
tabl
e go
vern
ance
.
• Th
e To
wn
is a
pro
activ
e lo
cal g
over
nmen
t tha
t get
s th
ings
don
e.
• A
str
ong
perf
orm
ing
loca
l gov
ernm
ent.
The
Stat
emen
t of C
ompr
ehen
sive
Inco
me
is p
rese
nted
in a
pro
gram
form
at u
sing
the
follo
win
g cl
assi
fi ca
tions
:
Gene
ral P
urpo
se F
undi
ng
Gen
eral
rate
reve
nue,
inte
rest
for l
ate
paym
ent,
ex g
ratia
rate
s, g
ener
al p
urpo
se g
rant
s, u
ntie
d ro
ad g
rant
s, in
tere
st o
n de
ferr
ed ra
tes,
inve
stm
ent r
etur
ns.
Gove
rnan
ce
Mem
bers
of C
ounc
il, c
ivic
rece
ptio
ns a
nd fu
nctio
ns, p
ublic
rela
tions
, ele
ctor
al, a
dmin
istr
atio
n,
fi na
nce.
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
haza
rds,
ani
mal
con
trol
, do
g po
und,
loca
l law
con
trol
, pub
lic s
ecur
ity, c
ivil
emer
genc
y se
rvic
es, b
each
insp
ectio
ns, s
urf
lifes
avin
g cl
ubs,
nei
ghbo
urho
od w
atch
.
Hea
lth
Mat
erna
l and
infa
nt h
ealth
, im
mun
isat
ion,
food
con
trol
, hea
lth in
spec
tions
.
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 citi
zens
’ cen
tres
, w
elfa
re a
dmin
istr
atio
n, d
onat
ions
to w
elfa
re o
rgan
isat
ions
.
Com
mun
ity A
men
ities
Rubb
ish
colle
ctio
ns, r
ecyc
ling,
refu
se s
ite o
pera
tions
, litt
er c
ontr
ol, p
ublic
litt
er b
ins,
tow
n pl
anni
ng c
ontr
ol/s
tudi
es.
Recr
eatio
n an
d Cu
lture
Publ
ic h
alls
, civ
ic c
entr
es, b
each
es a
nd s
wim
min
g po
ol, g
olf c
ours
e, p
arks
, spo
rts
grou
nds,
spo
rts
club
s, c
omm
unity
recr
eatio
n pr
ogra
ms,
cyc
lew
ays,
libr
ary,
com
mun
ity a
rts
prog
ram
, am
phith
eatr
e.
Tran
spor
t
Road
s, fo
otpa
ths,
righ
ts o
f way
, dra
inag
e, ro
ad v
erge
s, m
edia
n st
rips,
und
erpa
sses
, str
eet l
ight
ing,
st
reet
cle
anin
g, s
tree
t tre
es, t
raffi
c s
urve
ys, t
raffi
c m
anag
emen
t, un
derg
roun
d po
wer
.
Econ
omic
Ser
vice
s
Build
ing
cont
rol,
swim
min
g po
ol in
spec
tions
.
Oth
er P
rope
rty
Serv
ices
Publ
ic w
orks
ove
rhea
ds, p
lant
/veh
icle
ope
ratio
ns, o
ther
pro
pert
y.
3. A
sset
s cl
assi
fi ed
by
func
tion
and
act
ivit
y 30
Jun
e 20
16 $30
Jun
e 20
15 $
Gene
ral P
urpo
se F
undi
ng48
9,77
9 47
3,60
7 Go
vern
ance
27,4
81,6
20
43,1
48,9
40
Law,
Ord
er a
nd P
ublic
Saf
ety
19,6
14,6
80
13,6
72,8
05
Heal
th18
,058
23
,386
Ed
ucat
ion
and
Wel
fare
322,
037
346,
349
Com
mun
ity A
men
ities
6,76
3,05
5 6,
414,
916
Recr
eatio
n an
d Cu
lture
118,
252,
410
103,
205,
287
Tran
spor
t94
,338
,334
92
,945
,786
Ec
onom
ic Se
rvice
s13
,666
27
,884
Ot
her P
rope
rty a
nd S
ervic
es94
,530
,400
70
,035
,352
361,
824,
039
330,
294,
312
68 Town of Cambridge Annual Report 2015-2016
4. D
epre
ciat
ion
(a)
Dep
reci
atio
n by
Ass
et C
lass
ifi ca
tion
D
epre
ciat
ion
expe
nse
for t
he fi
nanc
ial y
ear w
as c
harg
ed in
resp
ect o
f:
30 J
une
2016 $
30 J
une
2015 $
Build
ings
2,21
3,03
71,
865,
562
Offi c
e Fu
rnitu
re a
nd E
quip
men
t53
1,51
349
5,49
0Ex
tern
al P
lant
and
Equ
ipm
ent
433,
798
415,
621
Infra
stru
ctur
e As
sets
4,61
7,72
44,
131,
343
7,79
6,07
26,
908,
016
(b)
Dep
reci
atio
n by
Pro
gram
D
epre
ciat
ion
expe
nse
for t
he fi
nanc
ial y
ear w
as c
harg
ed in
resp
ect o
f:
30 J
une
2016 $
30 J
une
2015 $
Gene
ral P
urpo
se F
undi
ng73
514
6Go
vern
ance
610,
370
535,
692
Law,
Ord
er a
nd P
ublic
Saf
ety
275,
415
94,1
20He
alth
5,32
810
,195
Educ
atio
n an
d W
elfa
re38
,513
32,6
51Co
mm
unity
Am
enitie
s17
8,05
219
3,23
3Re
crea
tion
and
Cultu
re2,
999,
358
3,11
1,66
8Tr
ansp
ort
3,43
0,78
02,
681,
524
Econ
omic
Serv
ices
2,79
97,
332
Othe
r Pro
perty
and
Ser
vices
254,
722
241,
455
7,79
6,07
26,
908,
016
5. C
ondi
tion
s ov
er c
ontr
ibut
ions
Gra
nts
whi
ch w
ere
reco
gnis
ed a
s re
venu
es d
urin
g th
e ye
ar a
nd w
hich
wer
e ob
tain
ed o
n th
e co
nditi
on th
at th
ey b
e ex
pend
ed o
n th
e ac
quis
ition
of n
on-c
urre
nt a
sset
s bu
t hav
e ye
t to
be
appl
ied
in th
at m
anne
r at r
epor
ting
date
wer
e:
30 J
une
2016 $
30 J
une
2015 $
MRW
A Re
habi
litatio
n 7
6,08
7 7
,979
M
RWA
Blac
kspo
t 2
44,0
93
- Ca
pita
l Gra
nt S
tate
- 3
5,41
6 Ca
pita
l Con
tribu
tion
- 5
,000
Ro
ads
to R
ecov
ery
194
,402
-
514
,582
4
8,39
5
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
curr
ent r
epor
ting
perio
d in
the
man
ner s
peci
fi ed
by
the
cont
ribut
or w
ere:
30 J
une
2016 $
30 J
une
2015 $
MRW
A Re
habi
litatio
n 7
,979
7
0,23
4 Ca
pita
l Gra
nt S
tate
35,
416
- Ca
pita
l Con
tribu
tion
5,0
00
-
48,
395
70,
234
69Notes to and Forming Part of the Financial Report
6. Tr
ade
and
othe
r rec
eiva
bles
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Rate
s 2
09,4
89
133
,148
GS
T Re
ceiva
ble
475
,706
5
78,5
61
Fees
and
Cha
rges
313
,277
3
5,95
1 Le
ss P
rovis
ion
for I
mpa
irmen
t of R
ecei
vabl
es (2
,982
) (3
,828
)Ot
her R
ecei
vabl
es 9
69,8
45
1,0
77,1
16
1,9
65,3
35
1,8
20,9
48
Non
curr
ent
30 J
une
2016 $
30 J
une
2015 $
Unde
rgro
und
Pow
er C
harg
es D
efer
red
25,
715
25,
715
Pens
ione
r’s R
ates
Def
erre
d 2
46,3
25
299
,059
De
fer R
ates
ESL
28,
635
36,
833
300
,675
3
61,6
07
Pens
ione
r’s R
ates
Def
erre
d
The
amou
nts
of $
25,7
15 a
nd $
246,
325
rela
te to
Cou
ncil
Rate
s de
ferr
ed b
y pe
nsio
ners
in
acco
rdan
ce w
ith th
e Ra
tes
and
Char
ges
(Reb
ates
and
Def
erm
ents
Act
) 19
92.
In
addi
tion,
de
ferr
ed ra
tes
of $
27,4
38 re
latin
g to
the
1994
fi na
ncia
l yea
r and
prio
r are
col
lect
able
for a
nd o
n be
half
of th
e Ci
ty o
f Per
th.
7. O
the r
ass
ets
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Prep
aym
ents
22,
582
105
,329
22,
582
105
,329
8. In
vent
orie
s
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Land
Hel
d Fo
r Res
ale
27,
363,
636
26,
135
Depo
t Inv
ento
ry 3
7,35
4 3
4,08
1 Bo
ld P
ark
Aqua
tic C
entre
Inve
ntor
y 4
1,91
2 3
,154
W
embl
ey G
olf C
ours
e In
vent
ory
273
,781
2
33,2
27
Tam
ala
Park
Lan
d He
ld fo
r Res
ale
450
,747
2
16,7
00
28,
167,
430
513
,297
9. C
ash
and
cash
equ
ival
ents
(a
) Ca
sh a
nd c
ash
equi
vale
nts
Inv
estm
ents
of c
ash
fund
s ar
e m
ade
in a
ccor
danc
e w
ith th
e W
este
rn A
ustr
alia
Tru
stee
Act
19
62 (a
s am
ende
d).
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Cash
at b
ank
and
on h
and
1,4
98,2
69
1,0
06,2
25
Term
Dep
osits
15,
687,
885
31,
538,
747
17,
186,
154
32,
544,
972
(b)
Rest
ricte
d ca
sh a
nd in
vest
men
ts
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Cash
and
cas
h eq
uiva
lent
s (s
ee N
ote
9 (a
)) 1
7,18
6,15
4 3
2,54
4,97
2 Ot
her F
inan
cial A
sset
s - N
on-C
urre
nt (S
ee N
ote
30)
541
,829
6
41,7
07
17,
727,
983
33,
186,
679
Unre
stric
ted
9,5
38,3
50
10,
315,
815
Rest
ricte
d 8
,189
,633
2
2,87
0,86
4
17,
727,
983
33,
186,
679
70 Town of Cambridge Annual Report 2015-2016
6. Tr
ade
and
othe
r rec
eiva
bles
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Rate
s 2
09,4
89
133
,148
GS
T Re
ceiva
ble
475
,706
5
78,5
61
Fees
and
Cha
rges
313
,277
3
5,95
1 Le
ss P
rovis
ion
for I
mpa
irmen
t of R
ecei
vabl
es (2
,982
) (3
,828
)Ot
her R
ecei
vabl
es 9
69,8
45
1,0
77,1
16
1,9
65,3
35
1,8
20,9
48
Non
curr
ent
30 J
une
2016 $
30 J
une
2015 $
Unde
rgro
und
Pow
er C
harg
es D
efer
red
25,
715
25,
715
Pens
ione
r’s R
ates
Def
erre
d 2
46,3
25
299
,059
De
fer R
ates
ESL
28,
635
36,
833
300
,675
3
61,6
07
Pens
ione
r’s R
ates
Def
erre
d
The
amou
nts
of $
25,7
15 a
nd $
246,
325
rela
te to
Cou
ncil
Rate
s de
ferr
ed b
y pe
nsio
ners
in
acco
rdan
ce w
ith th
e Ra
tes
and
Char
ges
(Reb
ates
and
Def
erm
ents
Act
) 19
92.
In
addi
tion,
de
ferr
ed ra
tes
of $
27,4
38 re
latin
g to
the
1994
fi na
ncia
l yea
r and
prio
r are
col
lect
able
for a
nd o
n be
half
of th
e Ci
ty o
f Per
th.
7. O
the r
ass
ets
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Prep
aym
ents
22,
582
105
,329
22,
582
105
,329
8. In
vent
orie
s
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Land
Hel
d Fo
r Res
ale
27,
363,
636
26,
135
Depo
t Inv
ento
ry 3
7,35
4 3
4,08
1 Bo
ld P
ark
Aqua
tic C
entre
Inve
ntor
y 4
1,91
2 3
,154
W
embl
ey G
olf C
ours
e In
vent
ory
273
,781
2
33,2
27
Tam
ala
Park
Lan
d He
ld fo
r Res
ale
450
,747
2
16,7
00
28,
167,
430
513
,297
9. C
ash
and
cash
equ
ival
ents
(a
) Ca
sh a
nd c
ash
equi
vale
nts
Inv
estm
ents
of c
ash
fund
s ar
e m
ade
in a
ccor
danc
e w
ith th
e W
este
rn A
ustr
alia
Tru
stee
Act
19
62 (a
s am
ende
d).
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Cash
at b
ank
and
on h
and
1,4
98,2
69
1,0
06,2
25
Term
Dep
osits
15,
687,
885
31,
538,
747
17,
186,
154
32,
544,
972
(b)
Rest
ricte
d ca
sh a
nd in
vest
men
ts
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Cash
and
cas
h eq
uiva
lent
s (s
ee N
ote
9 (a
)) 1
7,18
6,15
4 3
2,54
4,97
2 Ot
her F
inan
cial A
sset
s - N
on-C
urre
nt (S
ee N
ote
30)
541
,829
6
41,7
07
17,
727,
983
33,
186,
679
Unre
stric
ted
9,5
38,3
50
10,
315,
815
Rest
ricte
d 8
,189
,633
2
2,87
0,86
4
17,
727,
983
33,
186,
679
Th
e fo
llow
ing
rest
rictio
ns h
ave
been
impo
sed
by re
gula
tions
or o
ther
ext
erna
lly im
pose
d re
quire
men
ts:
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Rese
rves
(see
Not
e 14
) -
Area
Impr
ovem
ent R
eser
ve 2
,034
,628
1
,709
,288
-
Com
mun
ity F
acilit
es 3
32,1
88
954
,670
-
Asse
t Man
agem
ent
1,7
22,4
40
956
,836
-
Was
te M
anag
emen
t 5
07,8
72
283
,101
-
Club
s an
d As
socia
tions
1,0
59,1
20
876
,780
-
Deve
lopm
ent C
ontri
butio
ns -
Park
ing
1,0
22,7
50
932
,750
-
Deve
lopm
ent C
ontri
butio
ns -
Publ
ic Ar
t 5
5,00
0 5
5,00
0 Ca
mbr
idge
End
owm
ent L
ands
Acc
ount
(See
Not
e 14
) 7
56,4
40
17,
034,
884
Unsp
ent G
rant
s/Co
ntrib
utio
ns (s
ee N
ote
5) 5
14,5
82
48,
395
Wor
ks B
onds
and
Dep
osits
184
,613
1
9,16
0
8,1
89,6
33
22,
870,
864
(c)
Earn
ings
on
inve
stm
ents
Earn
ings
on
Inve
stm
ents
30 J
une
2016
Actu
al $
30 J
une
2016
Budg
et $
30 J
une
2015
Actu
al $
Mun
icipa
l 4
71,4
36
600
,000
5
04,4
85
Rese
rve
157
,048
4
3,50
0 1
37,8
94
Cam
brid
ge E
ndow
men
t Lan
ds A
ccou
nt 5
14,5
05
720
,000
9
30,7
32
1,1
42,9
89
1,3
63,5
00
1,5
73,1
11
10.
Trad
e an
d ot
her p
ayab
les
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Trad
e Cr
edito
rs 2
,222
,480
3
,018
,979
In
com
e Re
ceive
d in
Adv
ance
214
,134
2
5,97
1 Ac
crue
d Ex
pens
es 2
,745
,663
2
,473
,378
W
ork
Bond
s an
d De
posit
s 1
84,6
13
19,
160
GST
Paya
ble
134
,717
1
89,5
45
Sund
ry C
redi
tors
1,1
43,1
48
891
,122
6,6
44,7
55
6,61
8,15
5
11.
Prov
isio
ns30
Jun
e 20
16 $30
Jun
e 20
15 $
Curre
nt2,
646,
019
2,42
1,76
2No
n-cu
rrent
319,
243
321,
690
2,96
5,26
22,
743,
452
Prov
isio
n fo
r An
nual
Lea
ve $
Prov
isio
n fo
r Lon
g Se
rvic
e Le
ave $
Tota
l $
Open
ing
bala
nce
as a
t 1 J
uly
2015
1,22
0,68
61,
522,
766
2,74
3,45
2Ad
ditio
nal p
rovis
ions
1,03
4,21
844
6,44
11,
480,
659
Amou
nts
used
(919
,100
)(3
39,7
49)
(1,2
58,8
49)
1,33
5,80
41,
629,
458
2,96
5,26
2
12.
Borr
owin
gs
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Loan
1 -
Wem
bley
Gol
f Cou
rse
Irrig
atio
n Lo
an 1
63,7
12
158
,200
Lo
an 3
- W
embl
ey G
olf C
ours
e Dr
iving
Ran
ge L
oan
460
,169
4
14,1
33
HP L
oan
- Adm
inist
ratio
n Tr
ansp
orta
ble
Offi c
e 1
7,93
6 1
8,15
2 Lo
an 6
- M
inia
ture
Gol
f Cou
rse
Loan
1,1
25,0
00
-
1,7
66,8
17
590,
485
Non
curr
ent
30 J
une
2016 $
30 J
une
2015 $
Loan
1 -
Wem
bley
Gol
f Cou
rse
Irrig
atio
n Lo
an 1
,317
,339
1
,481
,051
Lo
an 3
- W
embl
ey G
olf C
ours
e Dr
iving
Ran
ge L
oan
9,5
56,5
77
10,
016,
746
Loan
4 -
Acqu
isitio
n of
39
Sout
hpor
t Stre
et 1
,107
,101
1
,107
,101
HP
Loa
n - A
dmin
istra
tion
Tran
spor
tabl
e Of
fi ce
1,6
84
19,
620
11,
982,
701
12,6
24,5
18
All
repa
ymen
ts w
ith re
spec
t to
the
loan
for t
he W
embl
ey G
olf C
ours
e ar
e so
urce
d fr
om g
olf
cour
se re
venu
e.
New
Loa
ns
Wem
bley
Gol
f Cou
rse
- M
inia
ture
Gol
f Pro
ject
is fu
lly fu
nded
by
a $3
.5 m
illio
n lo
an fa
cilit
y es
tabl
ishe
d on
27
June
201
6, a
t a ra
te o
f 3.2
% to
be
repa
id in
Jun
e 20
17.
As
at 3
0 Ju
ne 2
016,
w
orks
are
in p
rogr
ess
and
$1.1
25 m
illio
n of
loan
fund
s ha
ve b
een
draw
n do
wn.
71Notes to and Forming Part of the Financial Report
Loan
Rep
aym
ents
Parti
cula
rs
Prin
cipa
l1
July
201
5 $Ne
w L
oans $
Inte
rest
Ca
pita
lised
2015
/201
6In
tere
st R
epay
men
ts20
15/2
016
Prin
cipa
l Rep
aym
ents
2015
/201
6Pr
inci
pal
30 J
une
2016
Actu
al $Ac
tual $
Budg
et $Ac
tual $
Budg
et $Ac
tual $
Budg
et $
Gove
rnan
ce
HP L
oan
Adm
inist
ratio
n Tr
ansp
orta
ble
Offi c
e 3
7,77
2 -
- 2,
179
2,50
0 18
,152
18
,000
19
,620
19
,725
37,7
72
- -
2,17
9 2,
500
18,1
52
18,0
00
19,6
20
19,7
25
Recr
eatio
n an
d Cu
lture
Loan
No.
1
Wem
bley
Gol
f Cou
rse
Irrig
atio
n Sy
stem
1,
639,
251
- -
64,7
33
64,0
00
158,
200
158,
000
1,48
1,05
1 1,
481,
051
Loan
No.
3
Wem
bley
Gol
f Cou
rse
Drivi
ng R
ange
, Pro
shop
10,4
30,8
79
- -
370,
832
372,
000
414,
133
412,
500
10,0
16,7
46
10,0
52,1
94
Loan
No.
6
Wem
bley
Gol
f Cou
rse
Min
iatu
re G
olf
- 1,
125,
000
22
- 12
,000
-
- 1,
125,
000
2,00
0,00
0
12,0
70,1
30
1,12
5,00
0 22
43
5,56
5 44
8,00
0 57
2,33
3 57
0,50
0 12
,622
,797
13
,533
,245
Othe
r Pro
perty
& S
ervi
ces
Loan
No.
4
Acqu
isitio
n of
39
Sout
hpor
t Stre
et1,
107,
101
- -
47,2
64
53,5
00
- -
1,10
7,10
1 1,
107,
101
1,10
7,10
1 -
- 47
,264
53
,500
-
- 1,
107,
101
1,10
7,10
1
13,2
15,0
03
1,1
25,0
00
22
485,
008
504
,000
5
90,4
85
588
,500
13
,749
,518
14
,660
,071
72 Town of Cambridge Annual Report 2015-2016
The
inte
rest
sho
wn
in th
e sc
hedu
le fo
r bot
h th
e W
embl
ey G
olf C
ours
e Irr
igat
ion
Syst
em L
oan
and
Wem
bley
Gol
f Cou
rse
Driv
ing
Rang
e, P
ro-s
hop
and
Infr
astr
uctu
re D
evel
opm
ent h
as b
een
expe
nsed
in th
e ac
coun
ts a
nd re
pres
ents
inte
rest
cha
rged
and
acc
rued
for t
he y
ear e
nded
30
Ju
ne 2
016.
Tota
l loa
n fa
cilit
y fo
r the
Wem
bley
Gol
f Cou
rse
Driv
ing
Rang
e, P
ro-s
hop
and
Infr
astr
uctu
re
Dev
elop
men
t is
for $
14.7
mill
ion
($10
.8 m
illio
n fr
om W
ATC,
$3.
9 m
illio
n EL
A).
Inte
rest
Rat
e Ri
sk
Loan
No.
1 -
Irrig
atio
n Sy
stem
– W
embl
ey G
olf C
ours
e
The
Tow
n’s
expo
sure
to in
tere
st ra
te ri
sk is
min
imis
ed a
s th
e lo
an is
a fi
ve y
ear t
erm
loan
with
a
fi xe
d in
tere
st ra
te d
urin
g th
at p
erio
d of
3.4
3% p
er a
nnum
. Th
e in
tere
st p
ayab
le a
s a
resu
lt of
bo
rrow
ings
is a
s fo
llow
s:
30 J
une
2016 $
30 J
une
2015 $
Fixe
d In
tere
st ra
te m
atur
ing
- w
ithin
one
yea
r 6
4,75
6 6
3,55
3 -
with
in o
ne to
fi ve
yea
rs 9
1,87
2 1
56,6
28
156,
628
220,
181
Loan
No.
3 -
Driv
ing
Rang
e, P
ro-s
hop
and
Infr
astr
uctu
re D
evel
opm
ent -
Wem
bley
Gol
f Cou
rse
The
Tow
n’s
expo
sure
to in
tere
st ra
te ri
sk is
min
imis
ed a
s th
e lo
an is
a tw
o ye
ar te
rm lo
an w
ith
a fi
xed
inte
rest
rate
dur
ing
that
per
iod
of 2
.93
% p
er a
nnum
. Th
e in
tere
st p
ayab
le a
s a
resu
lt of
bo
rrow
ings
as
follo
ws:
30 J
une
2016 $
30 J
une
2015 $
Fixe
d In
tere
st ra
te m
atur
ing
- w
ithin
one
yea
r 2
70,1
80
372
,070
-
with
in o
ne to
fi ve
yea
rs 2
60,0
51
-
530,
231
372,
070
HP
Loan
- A
dmin
istr
atio
n Tr
ansp
orta
ble
Offi
ce
The
Tow
n’s
expo
sure
to in
tere
st ra
te ri
sk is
min
imis
ed a
s th
e hi
re p
urch
ase
agre
emen
t is
for a
fi ve
ye
ar te
rm w
ith a
fi xe
d in
tere
st ra
te d
urin
g th
at p
erio
d of
6.9
9% p
er a
nnum
. Th
e in
tere
st p
ayab
le
as a
resu
lt of
the
agre
emen
t is
as fo
llow
s:
30 J
une
2016 $
30 J
une
2015 $
Fixe
d In
tere
st ra
te m
atur
ing
- w
ithin
one
yea
r 8
50
2,1
79
- w
ithin
one
to fi
ve y
ears
30
880
880
3,05
9
Loan
No.
4 -
Acq
uisi
tion
of S
outh
port
Str
eet
The
Tow
n’s
expo
sure
to in
tere
st ra
te ri
sk is
min
imis
ed a
s th
e lo
an is
for a
n ei
ght y
ear t
erm
with
a
fi xe
d in
tere
st ra
te d
urin
g th
at p
erio
d of
3.8
5% p
er a
nnum
. Th
e in
tere
st p
ayab
le a
s a
resu
lt of
the
agre
emen
t is
as fo
llow
s:
30 J
une
2016 $
30 J
une
2015 $
Fixe
d In
tere
st ra
te m
atur
ing
- w
ithin
one
yea
r 4
7,07
4 4
7,27
3 -
with
in o
ne to
fi ve
yea
rs 1
89,5
28
189
,093
236,
602
236,
366
73Notes to and Forming Part of the Financial Report
13.
Prop
erty
, pla
nt &
equ
ipm
ent,
in
fras
truc
ture
ass
ets
(a)
Carr
ying
Am
ount
s of
Ass
ets
by C
lass
ifi ca
tion
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Land
- In
depe
nden
t Val
uatio
n 20
14 6
0,44
5,20
8 6
3,85
6,05
2
60,
445,
208
63,
856,
052
Build
ings
-
Inde
pend
ent V
alua
tion
2014
53,
031,
000
53,
031,
000
- Ad
ditio
ns a
fter v
alua
tion
- Cos
t 3
2,72
4,22
5 2
,363
,657
Less
: Ac
cum
ulat
ed D
epre
ciatio
n (4
,841
,214
) (2
,628
,176
)
80,
914,
011
52,
766,
481
Offi c
e Fu
rnitu
re a
nd E
quip
men
t -
Man
agem
ent V
alua
tion
2014
1,7
82,6
77
1,7
82,6
77
- Ad
ditio
ns a
fter v
alua
tion
- Cos
t 2
,220
,596
1
,299
,494
Less
: Ac
cum
ulat
ed D
epre
ciatio
n (1
,101
,960
) (5
74,9
38)
2,9
01,3
13
2,5
07,2
33
Exte
rnal
Pla
nt a
nd E
quip
men
t -
Man
agem
ent V
alua
tion
2016
2,4
02,5
39
- M
anag
emen
t Val
uatio
n 20
13 -
1,9
08,9
37
- Ad
ditio
ns a
fter v
alua
tion
- Cos
t -
1,4
73,1
33
Less
: Ac
cum
ulat
ed D
epre
ciatio
n -
(648
,426
)
2,4
02,5
39
2,7
33,6
44
Park
s an
d Re
serv
es -
Man
agem
ent V
alua
tion
2015
72,
269,
075
72,
269,
075
- Co
st 1
,323
,708
-
Less
: Ac
cum
ulat
ed D
epre
ciatio
n (1
8,61
2,98
0) (1
7,44
5,76
2)
54,
979,
803
54,
823,
313
Road
s an
d La
nes
- M
anag
emen
t Val
uatio
n 20
15 1
27,9
82,1
80
127
,982
,180
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
- Co
st 1
,551
,838
-
Less
: Ac
cum
ulat
ed D
epre
ciatio
n (7
7,38
6,00
3) (7
6,60
0,79
6)
52,
148,
015
51,
381,
384
Drai
nage
-
Man
agem
ent V
alua
tion
2015
28,
785,
509
28,
785,
509
- Co
st 5
43,0
91
-
Less
: Ac
cum
ulat
ed D
epre
ciatio
n (1
4,01
0,26
7) (1
3,70
1,12
4)
15,
318,
333
15,
084,
385
Foot
path
s -
Man
agem
ent V
alua
tion
2015
28,
708,
875
28,
708,
875
- Co
st 1
33,7
75
-
Less
: Ac
cum
ulat
ed D
epre
ciatio
n (8
,858
,402
) (8
,700
,184
)
19,
984,
248
20,
008,
691
Othe
r Inf
rast
ruct
ure
- M
anag
emen
t Val
uatio
n 20
15 1
,216
,125
1
,216
,125
-
Cost
42,
135
-
Less
: Ac
cum
ulat
ed D
epre
ciatio
n (9
04,1
96)
(897
,005
)
354
,064
3
19,1
20
Wor
k in
Pro
gres
sBu
ildin
gs 1
2,47
3,02
1 2
0,48
5,01
0 Pa
rks
and
Rese
rves
1,7
07,1
34
750
,939
Ro
ads
and
Lane
s 2
20,1
54
138
,384
Dr
aina
ge 2
22,7
99
183
,436
Fo
otpa
ths
9,9
08
3,0
55
Othe
r Inf
rast
ruct
ure
39,
254
102
,196
14,
672,
270
21,
663,
020
Tota
l Pro
perty
, Pla
nt a
nd E
quip
men
t and
Infra
stru
ctur
e 3
04,1
19,8
04
285
,143
,323
74 Town of Cambridge Annual Report 2015-2016
(b)
Mov
emen
t in
Carr
ying
Am
ount
s
M
ovem
ents
in th
e ca
rryi
ng a
mou
nts
for e
ach
clas
s of
pro
pert
y, p
lant
, equ
ipm
ent a
nd in
fras
truc
ture
ass
ets
betw
een
the
begi
nnin
g an
d en
d of
the
curr
ent fi
nan
cial
yea
r.
Land
(Lev
el 3
)
Non-
Spec
ialis
ed
Build
ings
(Lev
el3)
Spec
ialis
ed
Build
ings
(Lev
el3)
Build
ings
(L
evel
3)
Plan
t &Eq
uipm
ent
(Lev
el 3
)
Furn
iture
&Eq
uipm
ent
(Lev
el 3
)
Park
s &
Rese
rves
(Lev
el 3
)
Road
s &
Lane
s(L
evel
3)
Drai
nage
(Lev
el 3
)Fo
otpa
ths
(Lev
el 3
)
Othe
r In
frast
ruct
ure
(Lev
el 3
)W
ork
in
Prog
ress
Tota
l
Bala
nce
at B
egin
ning
at y
ear
63,8
56,0
52
24,2
14,3
04
28,5
52,1
78
52,7
66,4
81
2,73
3,64
4 2,
507,
233
54,8
23,3
12
51,3
81,3
83
15,0
84,3
86
20,0
08,6
90
319,
120
21,6
63,0
20
285,
143,
323
Addi
tions
- 16
6,04
7 11
,595
,642
11
,761
,689
40
2,38
8 82
5,01
9 1,
227,
649
3,46
6,01
3 49
0,91
6 60
0,59
0 58
,760
12
,151
,629
30
,984
,653
Tran
sfer
s fro
m W
IP-
- 18
,598
,880
18
,598
,880
-
102,
195
258,
728
128,
488
52,1
76
1,91
2 -
(19,
142,
378)
-
Disp
osal
s-
- -
- (1
68,7
82)
(1,6
21)
- (2
67,4
82)
- -
- -
(437
,885
)
Depr
ecia
tion
Expe
nse
- (8
53,8
73)
(1,3
59,1
65)
(2,2
13,0
37)
(433
,798
)(5
31,5
13)
(1,3
25,9
81)
(2,3
43,9
71)
(309
,145
)(6
15,2
26)
(23,
400)
- (7
,796
,072
)
Asse
t Rev
alua
tion
Rese
rve
Adju
stm
ent
(3,4
10,8
44)
- -
- -
- (3
,906
)(2
16,4
17)
- (1
1,71
8)(4
16)
- (3
,643
,301
)
Asse
t Dev
alua
tion
trans
fer t
o P/
L-
- -
- (1
30,9
13)
- -
- -
- -
- (1
30,9
13)
Carry
ing
Amou
nt a
t end
of y
ear
60,4
45,2
08
23,5
26,4
78
57,3
87,5
35
80,9
14,0
13
2,40
2,53
9 2,
901,
313
54,9
79,8
02
52,1
48,0
14
15,3
18,3
33
19,9
84,2
48
354,
064
14,6
72,2
70
304,
119,
804
N
ote:
Wor
k in
Pro
gres
s A
dditi
ons
of $
12 m
illio
n in
clud
e bu
ildin
g w
orks
of $
9 m
illio
n fo
r the
Wem
bley
Gol
f Cou
rse
Hos
pita
lity,
$1.
1 m
illio
n fo
r the
Wem
bley
Gol
f Cou
rse
Min
iatu
re G
olf P
roje
ct a
nd
$1.6
mill
ion
for t
he W
embl
ey S
port
s Pa
rk P
avili
on D
evel
opm
ent.
(c)
Plan
t and
Equ
ipm
ent F
air V
alue
Th
e fa
ir va
lue
of p
rope
rty,
pla
nt a
nd e
quip
men
t is
dete
rmin
ed a
t lea
st e
very
thre
e ye
ars
in a
ccor
danc
e w
ith th
e re
gula
tory
fram
ewor
k. A
dditi
ons
sinc
e th
e da
te o
f val
uatio
n ar
e sh
own
at c
ost,
give
n th
ey w
ere
acqu
ired
at a
rm’s
leng
th a
nd a
ny a
ccum
ulat
ed d
epre
ciat
ion
refl
ects
the
usag
e of
ser
vice
pot
entia
l, it
is c
onsi
dere
d th
e re
cord
ed w
ritte
n do
wn
valu
e ap
prox
imat
es fa
ir va
lue.
At t
he e
nd
of e
ach
inte
rven
ing
perio
d th
e va
luat
ion
is re
view
ed a
nd w
here
app
ropr
iate
the
fair
valu
e is
upd
ated
to re
fl ec
t cur
rent
mar
ket c
ondi
tions
. Th
is p
roce
ss is
con
side
red
to b
e in
acc
orda
nce
with
Loc
al
Gov
ernm
ent (
Fina
ncia
l Man
agem
ent)
Reg
ulat
ion
17A
(2) w
hich
requ
ire p
rope
rty,
pla
nt a
nd e
quip
men
t to
be s
how
n at
fair
valu
e.
In
acc
orda
nce
with
Loc
al G
over
nmen
t (Fi
nanc
ial M
anag
emen
t) R
egul
atio
n 17
A (2
) pla
nt a
nd e
quip
men
t was
due
to b
e re
valu
ed a
t 30
June
201
6. S
ubse
quen
tly, t
he T
own
reva
lued
its
plan
t and
eq
uipm
ent a
sset
s us
ing
purc
hase
cos
ts a
nd c
urre
nt c
ondi
tion
(Lev
el 2
), re
sidu
al v
alue
s an
d re
mai
ning
use
ful l
ife
asse
ssm
ents
(Lev
el 3
) inp
uts.
For
thos
e si
gnifi
cant
item
s of
pla
nt, s
uppl
iers
pro
vide
d m
arke
t val
uatio
ns.
75Notes to and Forming Part of the Financial Report
(d) F
air V
alue
Mea
sure
men
ts
Asse
t Cla
ssFa
ir Va
lue
Valu
atio
n Te
chni
que
Basi
s of
va
luat
ion
Date
of l
ast
Valu
atio
nIn
puts
use
d
Land
3M
arke
t app
roac
h us
ing
rece
nt
obse
rvab
le m
arke
t dat
a fo
r sim
ilar p
rope
rties
/inco
me
appr
oach
usin
g di
scou
nted
ca
shfl o
w m
etho
dolo
gy
Inde
pend
ent
regi
ster
ed
valu
er
Janu
ary
2014
Price
per
hec
tare
/ M
arke
t bor
row
ing
rate
Build
ing
3M
arke
t app
roac
h us
ing
rece
nt
obse
rvab
le m
arke
t dat
a fo
r sim
ilar p
rope
rties
/inco
me
appr
oach
usin
g di
scou
nted
ca
shfl o
w m
etho
dolo
gy
Inde
pend
ent
regi
ster
ed
valu
er
Janu
ary
2014
Price
per
squ
are
met
re /
Mar
ket b
orro
win
g ra
te
Furn
iture
an
d Eq
uipm
ent
3Co
st a
ppro
ach
usin
g de
prec
iate
d re
plac
emen
t cos
t
Man
agem
ent
valu
atio
nAp
ril
2014
Cons
truct
ion
cost
and
cur
rent
co
nditio
n, re
sidua
l val
ues
and
rem
aini
ng u
sefu
l life
as
sess
men
ts in
puts
Plan
t an
d Eq
uipm
ent
3Co
st a
ppro
ach
usin
g de
prec
iate
d re
plac
emen
t cos
t
Man
agem
ent
valu
atio
nJu
ne
2016
Purc
hase
cos
t and
cur
rent
co
nditio
n, re
sidua
l val
ues
and
rem
aini
ng u
sefu
l life
as
sess
men
ts in
puts
Infra
stru
ctur
e Pa
rks
and
Rese
rves
3Co
st a
ppro
ach
usin
g de
prec
iate
d re
plac
emen
t cos
t
Man
agem
ent
valu
atio
nJu
ne
2015
Cons
truct
ion
cost
and
cur
rent
co
nditio
n, re
sidua
l val
ues
and
rem
aini
ng u
sefu
l life
as
sess
men
ts in
puts
Road
s an
d La
nes
3Co
st a
ppro
ach
usin
g de
prec
iate
d re
plac
emen
t cos
t
Man
agem
ent
valu
atio
nJu
ne
2015
Cons
truct
ion
cost
and
cur
rent
co
nditio
n, re
sidua
l val
ues
and
rem
aini
ng u
sefu
l life
as
sess
men
ts in
puts
Drai
nage
3Co
st a
ppro
ach
usin
g de
prec
iate
d re
plac
emen
t cos
t
Man
agem
ent
valu
atio
nJu
ne
2015
Cons
truct
ion
cost
and
cur
rent
co
nditio
n, re
sidua
l val
ues
and
rem
aini
ng u
sefu
l life
as
sess
men
ts in
puts
Foot
path
s3
Cost
app
roac
h us
ing
depr
ecia
ted
repl
acem
ent c
ost
Man
agem
ent
valu
atio
nJu
ne
2015
Cons
truct
ion
cost
and
cur
rent
co
nditio
n, re
sidua
l val
ues
and
rem
aini
ng u
sefu
l life
as
sess
men
ts in
puts
Bus
Shel
ters
3Co
st a
ppro
ach
usin
g de
prec
iate
d re
plac
emen
t cos
t
Man
agem
ent
valu
atio
nJu
ne
2015
Cons
truct
ion
cost
and
cur
rent
co
nditio
n, re
sidua
l val
ues
and
rem
aini
ng u
sefu
l life
as
sess
men
ts in
puts
(e)
Bold
Par
k Tr
ansf
er o
f Titl
e –
Land
Pro
ceed
s
In
May
199
8 th
e St
ate
Gov
ernm
ent p
aid
the
Tow
n th
e su
m o
f $6.
5 m
illio
n in
adv
ance
, with
re
spec
t to
the
sale
of l
and
at F
ortv
iew
Roa
d, W
hitn
ey C
resc
ent a
nd R
ochd
ale
Road
, Mt C
lare
mon
t ar
eas
know
n as
“F” a
nd “G
” and
as
com
pens
atio
n fo
r the
cre
atio
n an
d en
dow
men
t of B
old
Park
. In
the
even
t tha
t the
sal
e pr
ocee
ds o
f the
land
exc
eed
$11.
5 m
illio
n, th
e To
wn
is to
rece
ive
a fu
rthe
r 50
per c
ent o
f tha
t por
tion
exce
edin
g $1
1.5
mill
ion.
Are
a “F
” was
on-
sold
by
the
Stat
e G
over
nmen
t to
Land
corp
, a G
over
nmen
t age
ncy,
for $
3.7
mill
ion.
The
sta
tus
of a
rea
“G” w
as
in d
ispu
te w
ith th
e St
ate
Gov
ernm
ent c
once
rnin
g th
e fi
nanc
ial a
rran
gem
ents
with
resp
ect t
o th
e tr
ansa
ctio
n. T
he S
tate
Gov
ernm
ent c
onfi
rmed
that
the
arra
ngem
ents
acc
ordi
ng to
the
Tow
n’s
unde
rsta
ndin
g ar
e ag
reed
. A D
eed
was
sig
ned
in S
epte
mbe
r 201
1 fo
rmal
isin
g th
e ar
rang
emen
ts. L
andc
orp
are
resp
onsi
ble
for d
evel
opin
g th
e la
nd, k
now
n as
St J
ohns
Woo
d Es
tate
, Mt C
lare
mon
t. C
onst
ruct
ion
and
subd
ivis
ion
wor
ks h
ave
been
und
erta
ken
crea
ting
49
resi
dent
ial l
ots.
A s
ales
pro
gram
com
men
ced
and
is o
ngoi
ng w
ith s
ettle
men
t of t
he p
roje
ct
expe
cted
in 2
016/
2017
.
(f)
Form
er N
urse
ry S
ite -
Sal
vado
Roa
d Jo
limon
t
Th
e To
wn
ente
red
into
a s
ale
agre
emen
t in
Apr
il 20
13 w
ith L
andc
orp
to fa
cilit
ate
the
deve
lopm
ent o
f the
form
er N
urse
ry S
ite lo
cate
d in
Sal
vado
Roa
d, J
olim
ont.
Und
er th
is c
ontr
act
the
Tow
n w
ill re
ceiv
e 60
% o
f the
net
sal
e pr
ocee
ds. A
n ad
vanc
e pa
ymen
t of $
5 m
illio
n w
as
rece
ived
and
acc
ount
ed fo
r dur
ing
the
2012
/201
3 fi
nanc
ial y
ear.
An
Out
line
Dev
elop
men
t Pla
n w
as p
repa
red
by L
andc
orp
for t
he s
ite w
hich
was
pub
licly
adv
ertis
ed a
nd a
dopt
ed b
y th
e To
wn
in D
ecem
ber 2
014.
The
pla
n w
as a
ppro
ved
by th
e W
este
rn A
ustr
alia
n Pl
anni
ng C
omm
issi
on in
Ju
ne 2
015.
In S
epte
mbe
r 201
5 th
e To
wn
deci
ded
to p
roce
ed w
ith d
evel
opm
ent i
n co
njun
ctio
n w
ith L
andc
orp.
The
est
ate
nam
e is
Par
ksid
e W
alk,
Jol
imon
t. S
ubdi
visi
on a
ppro
val h
as b
een
prov
ided
for t
he c
reat
ion
of 2
4 si
ngle
resi
dent
ial l
ots
and
seve
n ap
artm
ent s
ites
that
will
cat
er
for u
p to
350
new
dw
ellin
gs a
cros
s th
e w
hole
site
. It i
s ex
pect
ed th
at s
ubdi
visi
on w
orks
will
co
mm
ence
in 2
016/
2017
in c
onju
nctio
n w
ith a
sal
es p
rogr
am.
(g)
Perr
y La
kes
Rede
velo
pmen
t Pro
ject
Th
e St
ate
Gov
ernm
ent a
ssum
ed c
ontr
ol o
f the
Per
ry L
akes
Red
evel
opm
ent p
roje
ct in
200
5
afte
r pas
sing
the
Perr
y La
kes
Rede
velo
pmen
t Act
200
5 (t
he A
ct).
At t
he c
ompl
etio
n of
the
proj
ect,
the
Tow
n of
Cam
brid
ge w
as o
wed
$50
mill
ion
whi
ch a
s pe
r the
Act
can
be
paid
in
cash
, lan
d or
a c
ombi
natio
n of
cas
h an
d la
nd.
A
tran
sfer
of t
he th
ree
apar
tmen
t site
s, v
alue
d at
$27
.4 m
illio
n (e
x G
ST) o
ccur
red
on 2
1 Ju
ly
2015
whi
ch h
as b
een
refl
ecte
d in
the
2015
/201
6 fi
nanc
ial a
ccou
nts
as L
and
Hel
d fo
r Res
ale.
A
s at
30
June
201
6, tw
o ap
artm
ent s
ites
Lot 2
32 &
Lot
233
are
und
er c
ontr
act o
f sal
e fo
r 19
.6 m
illio
n (e
x G
ST) w
ith th
e se
ttle
men
t due
in J
anua
ry 2
017.
The
rem
aini
ng b
alan
ce o
f $2
2.6
mill
ion
cash
is e
xpec
ted
in la
te 2
016.
(h)
Oth
er S
igni
fi ca
nt D
ispo
sals
Th
ere
wer
e no
sig
nifi
cant
dis
posa
ls o
f non
-cur
rent
ass
ets
durin
g th
e 20
15/2
016
fi na
ncia
l yea
r.
76 Town of Cambridge Annual Report 2015-2016
14.
Rese
rves
and
Cam
brid
ge
endo
wm
ent l
ands
acc
ount
As
at 3
0 J
une
201
6 th
e To
wn
of C
ambr
idge
mai
ntai
ned
rese
rves
for v
ario
us p
urpo
ses
rela
ting
to
the
prov
isio
n of
faci
litie
s an
d am
eniti
es th
roug
hout
the
Tow
n.
(a)
Are
a Im
prov
emen
t Res
erve
Th
is re
serv
e w
as e
stab
lishe
d to
pro
vide
fund
s fo
r the
acq
uisi
tion
and
deve
lopm
ent o
f ass
ets,
ex
clud
ing
com
mun
ity re
crea
tion
faci
litie
s, o
r the
pro
visi
on o
f ser
vice
s th
at a
re in
the
view
of
the
Tow
n be
nefi
cial
and
to p
rovi
de im
prov
emen
ts to
are
as w
ithin
the
dist
rict o
f the
Tow
n.
(b)
Com
mun
ity F
acili
ties
Res
erve
Th
is re
serv
e w
as e
stab
lishe
d to
pro
vide
fund
s fo
r the
acq
uisi
tion
and
deve
lopm
ent o
f co
mm
unity
faci
litie
s in
the
Tow
n.
(c)
Ass
et M
anag
emen
t Res
erve
Th
is re
serv
e w
as e
stab
lishe
d to
pro
vide
a s
ourc
e of
fund
s fo
r fut
ure
asse
t rep
lace
men
t in
clud
ing
plan
t and
equ
ipm
ent,
havi
ng re
gard
to th
e de
prec
iatin
g na
ture
of n
on-c
urre
nt
asse
ts.
The
amou
nt in
this
rese
rve
is to
be
accu
mul
ated
ove
r the
use
ful l
ife
of th
e as
sets
and
ex
pend
ed o
n re
plac
emen
t as
cons
ider
ed a
ppro
pria
te.
(d)
Was
te M
anag
emen
t Res
erve
Th
is re
serv
e w
as e
stab
lishe
d to
pro
vide
fund
s fo
r the
pro
visi
on o
f was
te m
anag
emen
t se
rvic
es in
clud
ing
recy
clin
g. T
hese
ser
vice
s m
ay in
clud
e ac
quis
ition
of a
sset
s su
ch a
s la
nd,
build
ings
, pla
nt a
nd e
quip
men
t, m
obile
rubb
ish
bins
etc
.
(e) C
lubs
and
Ass
ocia
tions
Res
erve
s
(i
) Cl
ubs
and
Ass
ocia
tions
- B
uild
ings
This
rese
rve
was
est
ablis
hed
in a
ccor
danc
e w
ith th
e To
wn’
s ne
w c
omm
unity
leas
ing
polic
y to
pro
vide
fund
ing
for o
ngoi
ng b
uild
ing
mai
nten
ance
for t
he v
ario
us fa
cilit
ies.
Co
ntrib
utio
ns a
re m
ade
by b
oth
the
Tow
n an
d th
e Co
mm
unity
Ass
ocia
tions
and
hel
d by
th
e To
wn
for t
his
purp
ose.
(i
i) C
lubs
and
Ass
ocia
tions
- S
ynth
etic
Cou
rt a
nd L
ight
ings
This
rese
rve
was
est
ablis
hed
in a
ccor
danc
e w
ith th
e To
wn’
s ne
w c
omm
unity
leas
ing
polic
y to
pro
vide
repl
acem
ent o
f syn
thet
ic c
ourt
s an
d lig
htin
g in
fras
truc
ture
whe
re
appl
icab
le.
Cont
ribut
ions
are
mad
e by
bot
h th
e To
wn
and
Com
mun
ity A
ssoc
iatio
ns a
nd
held
by
the
Tow
n fo
r thi
s pu
rpos
e.
(ii
i) Cl
ubs
and
Ass
ocia
tions
- C
ar P
arks
and
Sur
roun
ding
s
This
rese
rve
was
est
ablis
hed
in a
ccor
danc
e w
ith th
e To
wn’
s ne
w c
omm
unity
leas
ing
polic
y to
pro
vide
for t
he re
plac
emen
t of c
ar p
arks
and
sur
roun
ding
s w
here
app
licab
le.
Cont
ribut
ions
are
mad
e by
bot
h th
e To
wn
and
Com
mun
ity A
ssoc
iatio
ns a
nd h
eld
by th
e To
wn
for t
his
purp
ose.
(f)
Dev
elop
men
t Con
trib
utio
ns R
eser
ves
Th
e To
wn
unde
r its
“Tow
n Pl
anni
ng S
chem
e”, h
as a
requ
irem
ent f
or d
evel
oper
s to
mak
e a
“cas
h in
lieu
of p
arki
ng” c
ontr
ibut
ion,
as
part
of i
ts p
lann
ing
appr
oval
pro
cess
whe
re it
is
evid
ent t
hat t
here
are
insu
ffi c
ient
par
king
faci
litie
s be
ing
prov
ided
. Th
e “C
ash
in li
eu o
f pa
rkin
g” c
ontr
ibut
ion
will
dif
fer d
epen
ding
in w
hich
pre
cinc
t the
con
stru
ctio
n is
taki
ng p
lace
. To
ena
ble
cont
ribut
ions
to b
e ap
prop
riate
ly m
onito
red
and
acqu
itted
, a s
ub-r
eser
ve h
as b
een
crea
ted
for e
ach
prec
inct
.
(g)
Cam
brid
ge E
ndow
men
t Lan
ds A
ccou
nt
Th
e Ca
mbr
idge
End
owm
ent L
and
Act
192
0 (S
ectio
n 41
(1))
requ
ires
an “E
ndow
men
t Lan
ds
Acc
ount
” to
be e
stab
lishe
d. T
he p
roce
eds
of s
ale
of la
nd in
the
Endo
wm
ent L
ands
are
a ar
e to
be
cred
ited
to th
is a
ccou
nt.
The
fund
s he
ld in
this
acc
ount
mus
t be
expe
nded
for t
he
deve
lopm
ent o
f the
land
in th
e En
dow
men
t Lan
ds a
rea.
Th
e re
serv
e fu
nds
and
Cam
brid
ge E
ndow
men
t Lan
ds A
ccou
nt w
ill b
e ut
ilise
d as
and
whe
n th
e ne
ed a
rises
. Th
e as
set m
anag
emen
t res
erve
and
are
a im
prov
emen
t res
erve
are
use
d on
an
ongo
ing
basi
s. O
ther
rese
rves
will
be
used
for s
peci
fi c
proj
ects
as
and
whe
n re
quire
d.
77Notes to and Forming Part of the Financial Report
RESE
RVES
30 J
une
2016
Actu
al $
30 J
une
2016
Budg
et $
30 J
une
2015
Actu
al $
(a)
Area
Impr
ovem
ent
Op
enin
g Ba
lanc
e 1
July
1,7
09,2
88
1,7
19,3
00
765
,401
Tran
sfer
from
Acc
umul
ated
Sur
plus
2,3
56,8
10
1,8
49,7
00
2,6
32,5
16
Tr
ansf
er to
Acc
umul
ated
Sur
plus
(2,0
31,4
70)
(2,9
09,5
00)
(1,6
88,6
29)
Cl
osin
g Ba
lanc
e 30
Jun
e 2
,034
,628
6
59,5
00
1,7
09,2
88
(b)
Com
mun
ity F
acili
ties
Op
enin
g Ba
lanc
e 1
July
954
,670
9
81,4
00
1,0
97,4
41
Tr
ansf
er fr
om A
ccum
ulat
ed S
urpl
us 8
2,68
0 2
4,00
0 4
6,10
2
Tran
sfer
to A
ccum
ulat
ed S
urpl
us (7
05,1
62)
(768
,500
) (1
88,8
73)
Cl
osin
g Ba
lanc
e 30
Jun
e 3
32,1
88
236
,900
9
54,6
70
(c)
Asse
t Man
agem
ent
Op
enin
g Ba
lanc
e 1
July
956
,836
1
,112
,500
9
99,7
76
Tr
ansf
er fr
om A
ccum
ulat
ed S
urpl
us 1
,110
,248
7
32,1
00
999
,611
Tran
sfer
to A
ccum
ulat
ed S
urpl
us (3
44,6
44)
(969
,000
) (1
,042
,551
)
Cl
osin
g Ba
lanc
e 30
Jun
e 1
,722
,440
8
75,6
00
956
,836
(d)
Was
te M
anag
emen
t
Open
ing
Bala
nce
1 Ju
ly 2
83,1
01
283
,100
4
46
Tr
ansf
er fr
om A
ccum
ulat
ed S
urpl
us 3
34,7
71
222
,700
3
12,0
00
Tr
ansf
er to
Acc
umul
ated
Sur
plus
(110
,000
) (1
10,0
00)
(29,
345)
Cl
osin
g Ba
lanc
e 30
Jun
e 5
07,8
72
395
,800
2
83,1
01
(e)
Club
s an
d As
soci
atio
ns
Open
ing
Bala
nce
1 Ju
ly 8
76,7
80
876
,400
7
46,0
98
Tr
ansf
er fr
om A
ccum
ulat
ed S
urpl
us 6
09,6
67
629
,500
6
26,2
26
Tr
ansf
er to
Acc
umul
ated
Sur
plus
(427
,327
) (8
04,5
00)
(495
,544
)
Cl
osin
g Ba
lanc
e 30
Jun
e 1
,059
,120
7
01,4
00
876
,780
RESE
RVES
30 J
une
2016
Actu
al $
30 J
une
2016
Budg
et $
30 J
une
2015
Actu
al $
(f)
Deve
lopm
ent C
ontri
butio
ns -
Park
ing
Op
enin
g Ba
lanc
e 1
July
932
,750
9
22,8
00
432
,000
Tran
sfer
from
Acc
umul
ated
Sur
plus
90,
000
60,
000
500
,750
Tran
sfer
to A
ccum
ulat
ed S
urpl
us -
- -
Cl
osin
g Ba
lanc
e 30
Jun
e 1
,022
,750
9
82,8
00
932
,750
(g)
Deve
lopm
ent C
ontri
butio
ns -
Publ
ic A
rt
Open
ing
Bala
nce
1 Ju
ly 5
5,00
0 5
5,00
0 -
Tr
ansf
er fr
om A
ccum
ulat
ed S
urpl
us -
- 5
5,00
0
Tran
sfer
to A
ccum
ulat
ed S
urpl
us -
- -
Cl
osin
g Ba
lanc
e 30
Jun
e 5
5,00
0 5
5,00
0 5
5,00
0
Tota
l Res
erve
s 6
,733
,998
3
,907
,000
5
,768
,425
(h)
Cam
brid
ge E
ndow
men
t Lan
ds A
ccou
nt
Open
ing
Bala
nce
1 Ju
ly 1
7,03
4,88
4 1
8,34
9,50
0 2
7,61
9,35
2
Tran
sfer
from
Acc
umul
ated
Sur
plus
3,8
06,4
01
917
,000
5
,512
,817
Tran
sfer
to A
ccum
ulat
ed S
urpl
us (2
0,08
4,84
5) (1
9,16
6,00
0) (1
6,09
7,28
5)
Cl
osin
g Ba
lanc
e 30
Jun
e 7
56,4
40
100
,500
1
7,03
4,88
4
Tota
l Cam
brid
ge E
ndow
men
t Lan
ds A
ccou
nt 7
56,4
40
100
,500
1
7,03
4,88
4
Tota
l 7
,490
,438
4
,007
,500
2
2,80
3,30
9
78 Town of Cambridge Annual Report 2015-2016
15.
Ass
et re
valu
atio
n su
rplu
s Re
valu
atio
n su
rplu
ses
have
aris
en o
n re
valu
atio
n of
the
follo
win
g cl
asse
s of
non
-cur
rent
ass
ets:
ASSE
T RE
VALU
ATIO
N SU
RPLU
S30
Jun
e 20
16Ac
tual $
30 J
une
2015
Actu
al $
Land
Open
ing
Bala
nce
1 Ju
ly 5
3,69
2,15
6 5
4,25
6,55
4 Re
valu
atio
n De
crem
ent
(3,4
10,8
44)
(564
,398
)
Clos
ing
Bala
nce
30 J
une
50,
281,
312
53,
692,
156
Build
ings
Open
ing
Bala
nce
1 Ju
ly 1
6,00
1,47
0 1
6,70
8,33
8 Re
valu
atio
n De
crem
ent
- (7
06,8
68)
Clos
ing
Bala
nce
30 J
une
16,
001,
470
16,
001,
470
Park
s an
d Re
serv
esOp
enin
g Ba
lanc
e 1
July
3,9
53,7
62
- Re
valu
atio
n In
crem
ent
- 3
,953
,762
Re
valu
atio
n De
crem
ent
(3,9
06)
Clos
ing
Bala
nce
30 J
une
3,9
49,8
56
3,9
53,7
62
Road
s an
d La
nes
Open
ing
Bala
nce
1 Ju
ly 2
,552
,374
-
Reva
luat
ion
Incr
emen
t -
2,5
52,3
74
Reva
luat
ion
Decr
emen
t (2
16,4
17)
Clos
ing
Bala
nce
30 J
une
2,3
35,9
57
2,5
52,3
74
Drai
nage
Open
ing
Bala
nce
1 Ju
ly 7
,331
,589
-
Reva
luat
ion
Incr
emen
t -
7,3
31,5
89
Reva
luat
ion
Decr
emen
t (1
1,71
8)
Clos
ing
Bala
nce
30 J
une
7,3
19,8
71
7,3
31,5
89
ASSE
T RE
VALU
ATIO
N SU
RPLU
S30
Jun
e 20
16Ac
tual $
30 J
une
2015
Actu
al $
Foot
path
sOp
enin
g Ba
lanc
e 1
July
10,
046,
563
- Re
valu
atio
n In
crem
ent
- 1
0,04
6,56
3
Clos
ing
Bala
nce
30 J
une
10,
046,
563
10,
046,
563
Othe
r Inf
rast
ruct
ure
Open
ing
Bala
nce
1 Ju
ly 8
4,74
3 -
Reva
luat
ion
Incr
emen
t -
84,
743
Reva
luat
ion
Decr
emen
t (4
16)
Clos
ing
Bala
nce
30 J
une
84,
327
84,
743
Tota
l Ass
et R
eval
uatio
n Re
serv
e 9
0,01
9,35
6 9
3,66
2,65
7
16.
Not
es to
the
stat
emen
t of c
ash
fl ow
s(a
) Re
conc
iliat
ion
of C
ash
Fo
r the
pur
pose
of t
he S
tate
men
t of C
ash
Flow
s th
e To
wn
of C
ambr
idge
con
side
rs c
ash
to
incl
ude
cash
on
hand
and
in b
anks
and
inve
stm
ents
net
of o
utst
andi
ng b
ank
over
draf
ts.
Cash
at
the
end
of th
e re
port
ing
perio
d as
sho
wn
in th
e St
atem
ent o
f Cas
h Fl
ows
is re
conc
iled
to
the
rela
ted
item
s in
the
Stat
emen
t of F
inan
cial
Pos
ition
as
follo
ws:
30 J
une
2016
Ac
tual $
30 J
une
2016
Bu
dget $
30 J
une
2015
Ac
tual $
Cash
and
Cas
h Eq
uiva
lent
s17
,186
,154
12,1
93,5
0032
,544
,972
17,1
86,1
5412
,193
,500
32,5
44,9
72
79Notes to and Forming Part of the Financial Report
(b)
Reco
ncili
atio
n of
Net
Cas
h Pr
ovid
ed b
y O
pera
ting
Act
ivit
ies
to O
pera
ting
Surp
lus
30 J
une
2016
Ac
tual $
30 J
une
2016
Bu
dget $
30 J
une
2015
Ac
tual $
Oper
atin
g Su
rplu
s/(D
efi c
it) 3
4,39
0,10
3 7
,104
,500
1
2,11
8,12
5
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
56,6
23)
120
,000
(2
,681
,147
)La
nd h
eld
for r
esal
e - P
erry
Lak
es D
evel
opm
ent
27,
337,
501
- -
Land
hel
d fo
r res
ale
- Tam
ala
Park
234
,047
-
209
,738
As
sets
Rec
lass
ifi ed
an
expe
nsed
to
oper
atin
g 1
0,52
8 De
prec
iatio
n/W
rite
Dow
n 7
,796
,072
6
,994
,000
6
,908
,016
Re
valu
atio
n of
Pla
nt a
nd E
quip
men
t 1
30,9
13
- -
Incr
emen
t/Dec
rem
ent i
n Re
valu
atio
n of
Inve
stm
ent
45,
959
- (8
8,72
0)Re
tirem
ent o
f Inf
rast
ruct
ure
Asse
ts a
nd A
sset
Writ
e Of
f 2
32,4
57
- 1
77,0
39
Loss
/(Gai
n) o
n Sa
le o
f Pro
perty
, Pla
nt a
nd E
quip
men
t (4
,690
,351
) (2
,488
,500
) (5
,384
,854
)
65,
220,
078
11,
730,
000
11,
268,
725
Reve
nues
Pro
vide
d by
Gov
ernm
ent a
nd O
ther
Par
ties
Gran
ts/C
ontri
butio
ns fo
r the
dev
elop
men
t of a
sset
s (3
0,47
3,14
2) (4
,801
,000
) (3
,431
,321
)
(30,
473,
142)
(4,8
01,0
00)
(3,4
31,3
21)
Chan
ge in
Ope
ratin
g As
sets
and
Lia
bilit
ies
Add
Back
Incr
ease
/(Dec
reas
e) in
Pro
visio
ns 2
21,8
10
200
,000
(1
3,30
6)(In
crea
se)/D
ecre
ase
in R
ecei
vabl
es a
nd O
ther
(707
) (1
30,0
00)
(44,
180)
Incr
ease
/(Dec
reas
e) in
Pay
able
s (1
38,8
53)
980
,000
1
,876
,188
(In
crea
se)/D
ecre
ase
in In
vent
orie
s (2
7,65
4,13
2) 2
0,00
0 (2
52,5
40)
(27,
571,
882)
1,0
70,0
00
1,5
66,1
62
Net C
ash
Prov
ided
by
Oper
atin
g Ac
tiviti
es 7
,175
,054
7
,999
,000
9
,403
,566
17.
Supe
rann
uati
onTh
e To
wn
of C
ambr
idge
com
plie
s w
ith th
e m
inim
um o
blig
atio
ns u
nder
fede
ral l
aw a
nd
cont
ribut
es in
resp
ect o
f its
em
ploy
ees
to o
ne o
f the
follo
win
g su
pera
nnua
tion
plan
s:-
a)
W.A
. Sup
er
Th
e To
wn
cont
ribut
es in
resp
ect o
f cer
tain
of i
ts e
mpl
oyee
s to
an
accu
mul
ated
ben
efi t
su
pera
nnua
tion
fund
est
ablis
hed
in re
spec
t of a
ll M
unic
ipal
ities
in th
e St
ate.
In
acco
rdan
ce
with
sta
tuto
ry re
quire
men
ts, t
he T
own
cont
ribut
es 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
efi t
s as
they
ac
crue
. N
o lia
bilit
y of
the
Tow
n ha
s be
en re
cogn
ised
as
at th
e re
port
ing
date
in re
spec
t of
supe
rann
uatio
n be
nefi
ts fo
r its
em
ploy
ees.
(b)
City
of P
erth
Sup
eran
nuat
ion
Fund
Th
e To
wn
cont
ribut
es in
resp
ect o
f cer
tain
form
er C
ity o
f Per
th e
mpl
oyee
s to
a d
efi n
ed
bene
fi t s
uper
annu
atio
n pl
an.
In a
ccor
danc
e w
ith s
tatu
tory
requ
irem
ents
, the
Tow
n co
ntrib
utes
to th
e Ci
ty o
f Per
th S
uper
annu
atio
n fu
nd (“
the
Plan
”) a
mou
nts
dete
rmin
ed b
y th
e pl
an a
ctua
ry in
resp
ect o
f con
trib
utor
y m
embe
rs.
In re
spec
t of n
on-c
ontr
ibut
ory
mem
bers
, th
e To
wn
cont
ribut
es a
t the
min
imum
Aw
ard/
SGC
cont
ribut
ion
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
as th
ey a
ccru
e. T
he la
test
act
uaria
l re
port
has
indi
cate
d th
at th
ere
is a
sig
nifi
cant
sur
plus
with
in th
e fu
nd.
The
Tow
n co
ntrib
utes
an
add
ition
al fi
ve p
erce
nt to
the
fund
and
we
have
bee
n ad
vise
d by
the
fund
’s tr
uste
e th
at th
is c
ontr
ibut
ion
as fr
om A
pril
2016
will
be
fund
ed fr
om th
e fu
nd’s
sur
plus
unt
il it
is
extin
guis
hed.
Acc
ordi
ngly
thes
e co
ntrib
utio
ns h
ave
not b
een
refl
ecte
d in
the
Tow
n’s
fi na
ncia
l re
port
.
Th
e am
ount
of s
uper
annu
atio
n co
ntrib
utio
n pa
id b
y th
e To
wn
durin
g th
e re
port
ing
perio
d w
as
$1,7
54,9
89 (2
015:
$1,
758,
588)
.
City
of P
erth
Supe
r Fun
d $
W.A
. Sup
er $Ot
her $
Tota
l $
Supe
rann
uatio
n Gu
aran
tee
Char
ge57
,805
1,
141,
602
227,
137
1,42
6,54
4 Co
ntrib
utor
y Sc
hem
e27
,441
28
4,46
1 -
311,
902
Defi n
ed16
,543
-
- 16
,543
101,
789
1,42
6,06
3 22
7,13
7 1,
754,
989
80 Town of Cambridge Annual Report 2015-2016
18.
Cont
inge
nt li
abili
ties
Min
darie
Reg
iona
l Cou
ncil
The
Tow
n of
Cam
brid
ge is
a m
embe
r of t
he M
inda
rie R
egio
nal C
ounc
il. T
he M
inda
rie R
egio
nal
Coun
cil h
as e
stab
lishe
d a
Reso
urce
Rec
over
y Fa
cilit
y at
Nee
rabu
p.
A re
quire
men
t of t
he p
roje
ct to
suc
ceed
is th
e si
gnin
g of
a F
inan
cial
Gua
rant
ee “D
eed
of
Gua
rant
ee” b
y al
l sev
en m
embe
r Cou
ncils
to s
atis
fy fi
nanc
ial s
ecur
ity re
quire
men
ts b
y th
e co
ntra
ctor
und
erta
king
the
proj
ect.
At a
Spe
cial
Cou
ncil
Mee
ting
held
on
11 S
epte
mbe
r 200
7,
the
Tow
n ac
cept
ed a
max
imum
exp
osur
e un
der t
he D
eed
of G
uara
ntee
of $
7.33
mill
ion.
The
pr
obab
ility
of t
he D
eed
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
darie
Reg
iona
l Cou
ncil
is u
nabl
e to
mee
t the
pay
men
ts a
nd th
ere
is a
Min
darie
Re
gion
al C
ounc
il de
faul
t und
er th
e Re
sour
ce R
ecov
ery
Faci
lity
Agr
eem
ent (
RRFA
);
(b)
Min
darie
Reg
iona
l Cou
ncil
oblig
atio
n to
set
tle a
deb
t due
to a
For
ce M
ajeu
re e
vent
whi
ch is
no
t cov
ered
by
insu
ranc
e.
Loan
Gua
rant
ees
- Cl
ubs
The
Tow
n is
a g
uara
ntor
for t
he lo
an b
alan
ce o
utst
andi
ng a
s at
30
Jun
e 2
016
take
n ou
t by
the
follo
win
g cl
ub:
• La
ke M
onge
r Rec
reat
ion
Club
$
102
,190
The
Tow
n’s
liabi
lity
is li
mite
d to
the
amou
nt o
f the
loan
out
stan
ding
in th
e ca
se o
f any
def
ault
by
the
club
s in
mee
ting
thei
r loa
n lia
bilit
y co
mm
itmen
ts.
19.
Capi
tal a
nd le
asin
g co
mm
itm
ents
(a)
Ope
ratin
g Le
ase
Com
mit
men
ts
A
t the
repo
rtin
g da
te th
e To
wn
had
an o
blig
atio
n un
der a
n op
erat
ing
leas
e w
ith re
spec
t to
the
golf
cart
s, p
lant
and
ligh
t fl e
et a
t the
Wem
bley
Gol
f Cou
rse.
Am
ount
s pa
yabl
e co
ntra
cted
for
but n
ot c
apita
lised
in th
e ac
coun
ts a
re:
30 J
une
2016 $
30 J
une
2015 $
Not l
ater
than
1 y
ear
454
,691
2
96,6
80
Late
r tha
n on
e ye
ar b
ut n
ot la
ter t
han
fi ve
year
s 7
08,3
03
238
,136
1,16
9,43
8 53
4,81
6
(b)
Com
mitm
ent f
or C
apita
l Exp
endi
ture
Th
e To
wn
has
ente
red
into
con
trac
ts fo
r the
follo
win
g m
ajor
cap
ital p
roje
cts
for 2
015/
2016
:
• Co
nstr
uctio
n of
the
Wem
bley
Gol
f Cou
rse
hosp
italit
y an
d m
inia
ture
gol
f pro
ject
at a
tota
l co
st o
f $12
.8 m
illio
n.
• Co
nstr
uctio
n of
the
Wem
bley
Spo
rts
Park
Pav
ilion
at t
he c
ost o
f $3
mill
ion.
20.
Fees
and
cha
rges
by
prog
ram
30 J
une
2016 $
30 J
une
2015 $
Gene
ral P
urpo
se F
undi
ng 6
3,56
8 6
2,29
4
Gove
rnan
ce 5
9,70
7 6
0,72
3
Law
Ord
er a
nd P
ublic
Saf
ety
122
,375
1
40,4
34
Heal
th 9
4,15
0 7
2,77
0
Educ
atio
n &
Wel
fare
73,
861
60,
510
Com
mun
ity A
men
ities
2,6
00,2
01
2,8
08,8
69
Recr
eatio
n an
d Cu
lture
8,9
20,7
70
8,3
51,6
50
Tran
spor
t 1
,925
,571
1
,792
,184
Econ
omic
Serv
ices
440
,552
5
00,5
44
Othe
r Pro
perty
and
Ser
vices
874
,871
8
8,81
8
15,
175,
626
13,
938,
796
81Notes to and Forming Part of the Financial Report
21. G
rant
s, s
ubsi
dies
and
con
trib
utio
ns(a
) Re
venu
e by
pro
gram
30 J
une
2016 $
30 J
une
2015 $
Gene
ral P
urpo
se F
undi
ng 4
62,1
12
1,4
72,8
33
Law
Ord
er a
nd P
ublic
Saf
ety
548
,389
1
,399
,194
He
alth
5,7
00
5,1
00
Educ
atio
n &
Wel
fare
1,0
05,0
23
994
,655
Co
mm
unity
Am
enitie
s 1
92,7
64
570
,717
Re
crea
tion
and
Cultu
re 1
,427
,898
8
75,0
80
Tran
spor
t 1
,707
,852
1
,455
,376
Ot
her P
rope
rty 2
7,42
4,43
2 2
9,57
3
32,
774,
170
6,8
02,5
28
A
tran
sfer
of t
he th
ree
apar
tmen
t site
s w
ithin
the
Perr
y La
kes
Esta
te ,
valu
ed a
t $27
.4 m
illio
n (e
x G
ST) f
rom
Sta
te G
over
nmen
t has
bee
n in
clud
ed u
nder
“Oth
er P
rope
rty”
in th
e ab
ove
tabl
e.
(b)
Reve
nue
by n
atur
e or
type
30 J
une
2016 $
30 J
une
2015 $
Gran
ts a
nd C
ontri
butio
ns fo
r Ope
ratin
g 2
,301
,028
3
,371
,207
Gr
ants
and
Con
tribu
tions
for t
he d
evel
opm
ent o
f ass
ets
30,
473,
142
3,4
31,3
21
32,
774,
170
6,8
02,5
28
(c)
Ope
rati
ng a
nd n
on o
pera
ting
gran
ts &
con
trib
utio
ns b
y pr
ogra
m
30 J
une
2016
30 J
une
2015
Oper
atin
g $ No
n Op
erat
ing $
Oper
atin
g $No
n Op
erat
ing $
Gene
ral P
urpo
se F
undi
ng 4
62,1
12
- 1
,472
,833
-
Law
Ord
er a
nd P
ublic
Saf
ety
23,
389
525
,000
2
4,19
4 1
,375
,000
He
alth
5,7
00
- 5
,100
-
Educ
atio
n &
Wel
fare
1,0
05,0
23
- 9
88,0
09
6,6
46
Com
mun
ity A
men
ities
2,7
64
190
,000
8
,145
5
62,5
72
Recr
eatio
n an
d Cu
lture
468
,885
9
59,0
13
500
,990
3
74,0
90
Tran
spor
t 2
72,3
59
1,4
35,4
93
342
,363
1
,113
,013
Ot
her P
rope
rty 6
0,79
6 2
7,36
3,63
6 2
9,57
3 -
2,3
01,0
28
30,
473,
142
3,3
71,2
07
3,4
31,3
21
22.
Dis
posa
l of a
sset
s an
d la
nd h
eld
for r
esal
e
Clas
s of
Ass
ets
Net B
ook
Valu
eSa
le P
rice
Gain
/(Los
s) o
n Sa
leAc
tual $
Budg
et $Ac
tual $
Budg
et $Ac
tual $
Budg
et $
Gain
on
Disp
osal
of A
sset
sLa
nd H
eld
for R
esal
e 1
,649
,509
2
,217
,000
3
,211
,696
4
,816
,000
1
,562
,187
2
,599
,000
La
nd 5
6,14
9 -
3,1
88,9
65
- 3
,132
,817
-
Plan
t and
Equ
ipm
ent
83,
959
40,
000
131
,335
6
8,00
0 4
7,37
5 2
8,00
0
Subt
otal
1,7
89,6
17
2,2
57,0
00
6,5
31,9
96
4,8
84,0
00
4,7
42,3
79
2,6
27,0
00
Loss
on
Disp
osal
of A
sset
sFu
rnitu
re a
nd E
quip
men
t 1
,621
-
- -
(1,6
21)
- Pl
ant a
nd E
quip
men
t 8
4,82
2 4
36,5
00
69,
440
298
,000
(1
5,38
2) (1
38,5
00)
Infra
stru
ctur
e -
Road
s an
d La
nes
267
,482
-
- -
(267
,482
) -
Subt
otal
353
,925
4
36,5
00
69,
440
298
,000
(2
84,4
85)
(138
,500
)
Tota
l 2
,143
,542
2
,693
,500
6
,601
,436
5
,182
,000
4
,457
,894
2
,488
,500
82 Town of Cambridge Annual Report 2015-2016
23.
Stat
emen
t of r
atin
g in
form
atio
n20
15Ac
tual
$
Rate
able
Va
lue $
Rate
in
Dolla
r (C
ents
)
2016
Budg
et $
2016
Actu
al $
Gene
ral R
ate
Gros
s Re
ntal
Val
ue10
,605
,728
5,
729
Asse
ssm
ents
199,
655,
981
5.86
1 1
1,70
1,00
0 1
1,70
1,21
4 Un
impr
oved
Val
ues
10,2
24,2
26
4,45
7 As
sess
men
ts5,
027,
390,
000
0.20
9 1
0,52
3,00
0 1
0,52
3,23
1
Min
imum
Rat
e87
9,97
0 Gr
oss
Rent
al v
alue
- 95
7 @
$937
12,2
00,2
66
NA 8
97,0
00
896
,709
10
1,01
0 Un
impr
oved
Val
ue -
100
@$9
3726
,180
,000
NA
94,
000
93,
700
Inte
rim R
ates
433,
825
Gros
s Re
ntal
Val
ue5.
861
155
,000
2
04,4
58
(3,9
64)
Unim
prov
ed V
alue
0.20
9 2
6,50
0 2
4,22
2
Less
Rat
es W
ritte
n Of
f
11,9
19,5
23
Tota
l Gro
ss R
enta
l12
,753
,000
12
,802
,381
10
,321
,272
To
tal U
nim
prov
ed10
,643
,500
10
,641
,153
22,2
40,7
95
3,3
96,5
00
23,4
43,5
34
(46,
123)
Rate
s Re
ceive
d in
Adv
ance
- 2
7,11
7
22,1
94,6
72
Tota
l Rat
es23
,396
,500
23
,470
,651
93,3
39
Rate
Inst
alm
ent I
nter
est @
5.5%
90,
000
102
,545
62
,294
Ra
te A
dmin
istra
tion
Fee
$8.0
0 pe
r Ins
talm
ent
54,
000
63,
568
41,7
57
Late
Pay
men
t Int
eres
t @11
% 5
0,00
0 5
1,38
5 17
,945
Pe
nsio
ner D
efer
red
Inte
rest
8,0
00
10,
306
22,4
10,0
07
23,5
98,5
00
23,6
98,4
55
The
Tow
n is
sued
rate
s on
3 A
ugus
t 201
5, w
ith p
aym
ent t
o be
mad
e in
eith
er fu
ll by
10
Sep
tem
ber 2
015
(35
days
from
dat
e of
issu
e of
not
ices
) or b
y fo
ur in
stal
men
ts a
s pr
ovid
ed
for i
n th
e Lo
cal G
over
nmen
t Act
199
5.
The
due
date
s fo
r eac
h in
stal
men
t wer
e:
Firs
t Ins
talm
ent
10
Sept
embe
r 201
5
Seco
nd In
stal
men
t 1
2 N
ovem
ber 2
015
Third
Inst
alm
ent
14 J
anua
ry 2
016
Four
th In
stal
men
t
17 M
arch
201
6
An
inte
rest
rate
of 5
.5%
per
ann
um a
nd a
n ad
min
istr
atio
n fe
e of
$8.
00 a
pplie
d to
the
seco
nd,
third
and
four
th in
stal
men
ts.
An
inte
rest
rate
of 1
1% w
as c
harg
ed fo
r the
late
pay
men
t of r
ates
. Th
e re
venu
e ra
ised
from
thes
e ch
arge
s is
det
aile
d be
low
:
2016
Actu
al $
2016
Budg
et $
2015
Actu
al $In
stal
men
t Int
eres
t5.
5% p
er a
nnum
102
,545
9
0,00
0 9
3,33
9 Ad
min
istra
tion
Fee
$8.0
0 pe
r ins
talm
ent
63,
568
54,
000
62,
294
Late
Pay
men
t Int
eres
t11
% p
er a
nnum
51,
385
50,
000
41,
757
217
,498
1
94,0
00
197
,390
83Notes to and Forming Part of the Financial Report
24.
Trus
t fun
dsFu
nds
over
whi
ch th
e To
wn
has
no c
ontr
ol a
nd w
hich
are
not
incl
uded
in th
e Fi
nanc
ial R
epor
t are
as
follo
ws:
Uncl
aim
ed M
onie
s30
Jun
e 20
16Ac
tual $
30 J
une
2015
Actu
al $
Open
ing
Bala
nce
40,6
9640
,480
Rece
ipts
053
4Pa
ymen
ts(6
0)(3
18)
Cash
at B
ank
40,6
3640
,696
Trus
t - B
onds
30 J
une
2016
Actu
al $
30 J
une
2015
Actu
al $
Cash
at B
ank
4,40
247
,648
Term
Dep
osits
1,69
6,93
51,
890,
375
Clos
ing
Bala
nce
1,70
1,33
71,
938,
023
As
the
Tow
n pe
rfor
ms
only
a c
usto
dial
role
in re
spec
t of t
hese
mon
ies
and
ther
efor
e ca
nnot
be
used
for 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.
25.
Empl
oyee
num
bers
2016
20
15Th
e nu
mbe
r of f
ull t
ime
equi
vale
nt e
mpl
oyee
s as
at r
epor
ting
date
: 19
7
195
26.
Mem
bers
of c
ounc
il re
mun
erat
ion
Fee
30 J
une
2016
Actu
al $
30 J
une
2016
Budg
et $
30 J
une
2015
Actu
al $
Annu
al M
eetin
g Fe
e(S
ectio
n 5.
99)
May
or 3
0,30
0 3
0,38
5 3
0,30
0 3
0,38
5 Co
uncil
lor
22,
600
181
,281
1
81,2
00
181
,281
Sub
Tota
l 2
11,6
66
211
,500
2
11,6
66
Annu
al L
ocal
Gov
ernm
ent A
llow
ance
(Sec
tion
5.98
(5)(b
)M
ayor
62,
000
61,
800
62,
000
61,
800
Depu
ty M
ayor
15,
500
15,
450
15,
500
15,
450
Sub
Tota
l 7
7,25
0 7
7,50
0 7
7,25
0
Pres
crib
ed E
xpen
se R
eim
burs
emen
t(S
ectio
n 5.
98 (2
))Te
leco
mm
unica
tion
Allo
wan
ce 3
,700
3
1,50
0 3
3,00
0 3
1,50
0 Ot
her
594
5
00
190
Subt
otal
32,
094
33,
500
31,
690
Tota
l Mem
bers
Rem
uner
atio
n 3
21,0
10
322
,500
3
20,6
06
27.
Subs
eque
nt e
vent
sTh
ere
are
no s
igni
fi ca
nt s
ubse
quen
t eve
nts.
84 Town of Cambridge Annual Report 2015-2016
24.
Trus
t fun
dsFu
nds
over
whi
ch th
e To
wn
has
no c
ontr
ol a
nd w
hich
are
not
incl
uded
in th
e Fi
nanc
ial R
epor
t are
as
follo
ws:
Uncl
aim
ed M
onie
s30
Jun
e 20
16Ac
tual $
30 J
une
2015
Actu
al $
Open
ing
Bala
nce
40,6
9640
,480
Rece
ipts
053
4Pa
ymen
ts(6
0)(3
18)
Cash
at B
ank
40,6
3640
,696
Trus
t - B
onds
30 J
une
2016
Actu
al $
30 J
une
2015
Actu
al $
Cash
at B
ank
4,40
247
,648
Term
Dep
osits
1,69
6,93
51,
890,
375
Clos
ing
Bala
nce
1,70
1,33
71,
938,
023
As
the
Tow
n pe
rfor
ms
only
a c
usto
dial
role
in re
spec
t of t
hese
mon
ies
and
ther
efor
e ca
nnot
be
used
for 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.
25.
Empl
oyee
num
bers
2016
20
15Th
e nu
mbe
r of f
ull t
ime
equi
vale
nt e
mpl
oyee
s as
at r
epor
ting
date
: 19
7
195
26.
Mem
bers
of c
ounc
il re
mun
erat
ion
Fee
30 J
une
2016
Actu
al $
30 J
une
2016
Budg
et $
30 J
une
2015
Actu
al $
Annu
al M
eetin
g Fe
e(S
ectio
n 5.
99)
May
or 3
0,30
0 3
0,38
5 3
0,30
0 3
0,38
5 Co
uncil
lor
22,
600
181
,281
1
81,2
00
181
,281
Sub
Tota
l 2
11,6
66
211
,500
2
11,6
66
Annu
al L
ocal
Gov
ernm
ent A
llow
ance
(Sec
tion
5.98
(5)(b
)M
ayor
62,
000
61,
800
62,
000
61,
800
Depu
ty M
ayor
15,
500
15,
450
15,
500
15,
450
Sub
Tota
l 7
7,25
0 7
7,50
0 7
7,25
0
Pres
crib
ed E
xpen
se R
eim
burs
emen
t(S
ectio
n 5.
98 (2
))Te
leco
mm
unica
tion
Allo
wan
ce 3
,700
3
1,50
0 3
3,00
0 3
1,50
0 Ot
her
594
5
00
190
Subt
otal
32,
094
33,
500
31,
690
Tota
l Mem
bers
Rem
uner
atio
n 3
21,0
10
322
,500
3
20,6
06
27.
Subs
eque
nt e
vent
sTh
ere
are
no s
igni
fi ca
nt s
ubse
quen
t eve
nts.
28.
Maj
or la
nd tr
ansa
ctio
ns
Tam
ala
Park
- C
atal
ina
Esta
te
The
Tow
n is
a o
ne tw
elft
h (1
/12)
ow
ner o
f Lot
95
04 T
amal
a Pa
rk w
ith s
ix o
ther
Cou
ncils
(Citi
es o
f Pe
rth,
Joo
ndal
up, S
tirlin
g, V
ince
nt a
nd W
anne
roo
and
the
Tow
n of
Vic
toria
Par
k).
The
seve
n ow
ner c
ounc
ils h
ave
esta
blis
hed
the
Tam
ala
Park
Reg
iona
l Cou
ncil
with
the
spec
ifi c
func
tion
of c
arry
ing
out a
resi
dent
ial l
and
deve
lopm
ent,
know
n as
the
Cata
lina
Esta
te. A
s pa
rt o
wne
r of t
he la
nd, t
he T
own
is e
ntitl
ed to
one
twel
fth
of th
e ne
t pro
ceed
s of
the
land
de
velo
pmen
t.
Dur
ing
the
fi na
ncia
l yea
r end
ed 3
0 Ju
ne 2
016
, one
hun
dred
and
thirt
y se
ven
lots
of l
and
wer
e se
ttle
d. T
he T
own
rece
ived
sal
es p
roce
eds
of $
3,2
11,6
96
and
boo
ked
its s
hare
of a
ssoc
iate
d de
velo
pmen
t and
sel
ling
cost
s of
$1,
649,
509
, res
ultin
g in
a g
ain
on d
ispo
sal o
f lan
d of
$
1,5
62,1
87 w
hich
has
bee
n re
fl ec
ted
in th
e To
wn’
s St
atem
ent o
f Com
preh
ensi
ve In
com
e. T
his
note
sho
uld
also
be
read
in c
onju
nctio
n w
ith N
ote
31 -
Inve
stm
ent i
n Re
gion
al C
ounc
ils.
2012
/201
3Ac
tual $
2013
/201
4Ac
tual $
2014
/201
5Ac
tual $
2015
/201
6Ac
tual $
Tota
l $Re
venu
e
Proc
eeds
from
Lan
d Sa
les
3,6
44,3
46
4,5
23,1
24
5,0
92,6
11
3,6
17,7
36
16,
877,
817
Less
: GST
(94,
795)
(73,
925)
(64,
566)
(65,
610)
(298
,896
) 3
,549
,551
4
,449
,199
5
,028
,045
3
,552
,126
1
6,57
8,92
1
Less
: Dev
elop
men
t Cos
ts (3
65,3
57)
(489
,058
) (6
17,0
05)
(340
,430
) (1
,811
,850
) 3
,184
,194
3
,960
,141
4
,411
,040
3
,211
,696
1
4,76
7,07
1
Cost
of L
and
Sold
(1,3
09,1
44)
(1,8
29,8
14)
(1,7
47,9
68)
(1,6
49,5
09)
(6,5
36,4
35)
Profi
t on
Sal
e of
Lan
d 1
,875
,050
2
,130
,327
2
,663
,072
1
,562
,187
8
,230
,636
Equi
ty in
Tam
ala
Park
Reg
iona
l Co
uncil
2,3
34,4
63
3,5
35,5
48
4,0
07,8
55
4,1
01,7
13
Land
Hel
d fo
r Res
ale
145
,264
6
,962
2
16,7
00
450
,747
Un
impr
oved
Eng
lobo
Lan
d -
7,5
00,0
00
6,9
37,7
44
5,9
26,9
00
Net A
sset
s as
at 3
0 Ju
ne 2
,479
,727
1
1,04
2,51
0 1
1,16
2,29
9 1
0,47
9,36
0
29.
Maj
or tr
adin
g un
dert
akin
g Th
e W
embl
ey G
olf C
ours
e qu
alifi
es u
nder
the
min
imum
requ
irem
ents
of S
ectio
n 3.
59 o
f the
Lo
cal G
over
nmen
t Act
199
5 an
d Re
gula
tion
9 of
the
Func
tions
and
Gen
eral
Reg
ulat
ions
for a
m
ajor
trad
ing
unde
rtak
ing.
The
Tow
n do
es n
ot o
pera
te a
ny o
ther
maj
or tr
adin
g un
dert
akin
gs.
The
Wem
bley
Gol
f Cou
rse
oper
ates
as
a st
and-
alon
e ac
tivity
and
pay
s th
e To
wn
an a
nnua
l di
vide
nd w
hich
was
$1.
627
mill
ion
for 3
0 Ju
ne 2
016
(201
5: $
1.56
7 m
illio
n).
A s
umm
ary
of th
e fi
nanc
ial p
ositi
on is
det
aile
d be
low
:
2016
Actu
al $
2016
Budg
et $
2015
Actu
al $
Reve
nue
Fees
6,8
13,2
04
6,6
48,5
00
6,8
76,3
29
Othe
r 1
25,5
74
145
,000
2
63,8
87
Tota
l 6
,938
,778
6
,793
,500
7
,140
,216
Expe
nditu
reEx
pend
iture
5,6
00,0
52
5,6
59,5
00
5,9
08,7
19
Inte
rest
546
,665
5
58,5
00
413
,374
Tota
l 6
,146
,717
6
,218
,000
6
,322
,093
Net P
rofi t
from
Ope
ratio
ns 7
92,0
61
575
,500
8
18,1
23
Add
Back
Ove
rhea
ds/N
on C
ash
753
,132
9
48,5
00
1,1
98,1
76
Net C
ash
Surp
lus
from
Ope
ratio
ns 1
,545
,193
1
,524
,000
2
,016
,299
Plus
Pro
ceed
s fro
m s
ale
of P
lant
& E
quip
men
t 3
7,50
0 2
0,00
0 -
Less
Loa
n Pr
incip
al R
epay
men
ts (5
72,3
33)
(570
,500
) (5
21,9
94)
Tran
sfer
Fro
m R
eser
ve 6
16,6
40
653
,500
7
2,97
4 Tr
ansf
er F
rom
End
owm
ent L
and
Acco
unt
- -
-
Cash
Div
iden
d to
the
Tow
n 1
,627
,000
1
,627
,000
1
,567
,279
The
info
rmat
ion
cont
aine
d in
the
abov
e O
pera
ting
Stat
emen
t is
incl
usiv
e of
all
item
s of
reve
nue
and
expe
nditu
re w
hich
has
bee
n us
ed in
the
pric
ing
stru
ctur
e fo
r goo
ds a
nd s
ervi
ces
prov
ided
by
the
golf
cour
se tr
adin
g un
dert
akin
g. T
here
are
no
othe
r ite
ms
outs
ide
the
abov
e O
pera
ting
Stat
emen
t use
d fo
r thi
s pu
rpos
e.
The
inte
rest
exp
ense
am
ount
of $
546,
665
for t
he 2
015/
2016
fi na
ncia
l yea
r inc
lude
s an
inte
rnal
in
tere
st c
harg
e fr
om th
e En
dow
men
t Lan
ds A
ccou
nt o
f $11
1,10
0. T
his
has
been
elim
inat
ed
with
in th
e To
wn’
s fi
nanc
ial r
epor
t.
85Notes to and Forming Part of the Financial Report
A fi
ve y
ear f
orec
ast o
f exp
ecte
d fi
nanc
ial p
erfo
rman
ce fo
r the
gol
f cou
rse
base
d on
cur
rent
tren
ds in
the
indu
stry
and
inve
stm
ent i
n th
e go
lf co
urse
hos
pita
lity
and
min
iatu
re g
olf i
s as
follo
ws:
2016 $
2017 $
2018 $
2019 $
2020 $
2021 $
Tota
l $
Reve
nue
Fees
6,8
13,2
04
6,6
37,3
00
6,7
62,0
00
6,8
37,0
00
6,9
03,0
00
6,9
84,0
00
40,
936,
504
Othe
r 1
25,5
74
2,0
19,7
00
2,2
73,0
00
2,3
03,0
00
2,3
33,0
00
2,3
53,0
00
11,
407,
274
Tota
l 6
,938
,778
8
,657
,000
9
,035
,000
9
,140
,000
9
,236
,000
9
,337
,000
5
2,34
3,77
8
Expe
nditu
re
Expe
nditu
re 6
,146
,717
6
,981
,000
7
,096
,000
6
,931
,000
6
,903
,000
6
,907
,000
4
0,96
4,71
7
Tota
l 6
,146
,717
6
,981
,000
7
,096
,000
6
,931
,000
6
,903
,000
6
,907
,000
4
0,96
4,71
7
Net P
rofi t
from
Ope
ratio
ns 7
92,0
61
1,6
76,0
00
1,9
39,0
00
2,2
09,0
00
2,3
33,0
00
2,4
30,0
00
11,
379,
061
Add
Back
Ove
rhea
ds/N
on C
ash
753
,132
1
,091
,000
1
,117
,000
1
,117
,000
1
,117
,000
1
,117
,000
6
,312
,132
Net C
ash
Surp
lus
from
Ope
ratio
ns 1
,545
,193
2
,767
,000
3
,056
,000
3
,326
,000
3
,450
,000
3
,547
,000
1
7,69
1,19
3
Less
: Loa
n Pr
incip
al R
epay
men
ts (5
72,3
33)
(622
,000
) (6
41,5
00)
(657
,000
) (6
73,5
00)
(690
,500
) (3
,856
,833
)
Less
: Prin
cipal
Rep
aym
ent t
o En
dow
men
t Lan
d -
(471
,000
) (5
50,5
00)
(593
,000
) (6
06,5
00)
(620
,500
) (2
,841
,500
)
Add:
Pro
ceed
s fro
m S
ale
of P
lant
& E
quip
men
t 3
7,50
0 -
- -
- -
37,
500
Tran
sfer
red
from
/(to)
Res
erve
616
,640
-
(184
,000
) (3
96,0
00)
(490
,000
) (5
56,0
00)
(1,0
09,3
60)
Cash
Div
iden
d to
the
Tow
n 1
,627
,000
1
,674
,000
1
,680
,000
1
,680
,000
1
,680
,000
1
,680
,000
1
0,02
1,00
0
86 Town of Cambridge Annual Report 2015-2016
30.
Oth
er fi
nanc
ial a
sset
s In
vest
men
ts a
re m
ade
in a
ccor
danc
e w
ith th
e W
este
rn A
ustr
alia
n Tr
uste
e A
ct 1
962
(as
amen
ded)
an
d ar
e re
cord
ed a
t cos
t.
Hel
d To
Mat
urity
Inve
stm
ents
Non
Curr
ent
30 J
une
2016 $
30 J
une
2015 $
Mor
tgag
e ba
cked
Sec
urity
541
,829
6
41,7
07
541
,829
6
41,7
07
Not
e:
Curr
ently
one
long
term
sec
urity
rem
ains
in th
e in
vest
men
t por
tfol
io, b
eing
a m
ortg
age
back
ed s
ecur
ity “E
mer
ald
Reve
rse
Mor
tgag
e Se
ries
200
6-1
Cla
ss A
” whi
ch is
an
“AA
A” c
redi
t ris
k ra
ted
secu
rity.
As
at 3
0 Ju
ne 2
016
the
secu
rity
has
a m
arke
t val
ue o
f $5
41,8
29 a
nd th
e ca
rryi
ng v
alue
of t
he in
vest
men
t of $
587,
788
has
been
dec
reas
ed to
refl
ect t
his
valu
e w
ith a
fair
va
lue
adju
stm
ent o
f $45
,959
boo
ked
to th
e St
atem
ent o
f Com
preh
ensi
ve In
com
e.
It sh
ould
be
note
d th
at T
own
at th
is ti
me
has
no in
tent
ion
of s
ellin
g th
e in
vest
men
t. Th
e or
igin
al in
vest
men
t of
$1
mill
ion
is b
eing
gra
dual
ly re
duce
d as
the
unde
rlyin
g m
ortg
ages
are
repa
id w
ith $
316,
401
re
ceiv
ed s
ince
the
secu
rity
was
acq
uire
d.
31.
Inve
stm
ent i
n re
gion
al c
ounc
ils -
join
t ven
ture
(a) N
on-C
urre
nt A
sset
s30
Jun
e 20
16 $30
Jun
e 20
15 $
Min
darie
Reg
iona
l Cou
ncil
5,41
8,51
75,
155,
274
Tam
ala
Park
Reg
iona
l Cou
ncil
4,10
1,71
34,
007,
855
9,52
0,23
09,
163,
129
(b) C
hang
e in
Equ
ity
In
tere
st in
the
join
t ven
ture
by
Coun
cil i
n bo
th M
inda
rie R
egio
nal C
ounc
il an
d Ta
mal
a Pa
rk
Regi
onal
Cou
ncil
is a
ccou
nted
for b
y ap
plyi
ng th
e eq
uity
met
hod.
Und
er th
is m
etho
d of
ac
coun
ting,
inte
rest
in th
e jo
intly
con
trol
led
regi
onal
cou
ncils
is in
itial
ly re
cord
ed a
t cos
t and
ad
just
ed th
erea
fter
for t
he p
ost a
cqui
sitio
n ch
ange
in C
ounc
il’s
shar
e of
net
ass
ets
of th
e jo
intly
con
trol
led
regi
onal
cou
ncils
. A
ccor
ding
ly a
tota
l am
ount
of $
256,
623
post
acq
uisi
tion
chan
ge w
as b
ooke
d, m
ade
up o
f a $
240,
906
incr
emen
t for
Min
darie
Reg
iona
l Cou
ncil
and
a $1
5,71
7 in
crem
ent f
or T
amal
a Pa
rk R
egio
nal C
ounc
il.
Inve
stm
ent i
n Ta
mal
a Pa
rk$
Open
ing
Bala
nce
as a
t 1 J
uly
2015
4,00
7,85
5(b
ased
on
draf
t fi n
ancia
ls)
Proc
eeds
from
sal
e of
Tam
ala
Park
land
lots
in 2
015/
163,
211,
696
Less
: Cos
t of L
and
Deve
lope
d an
d M
oved
to L
and
Held
for R
esal
e(1
,883
,556
)
Less
: Ret
urn
of E
quity
/Pro
fi t fr
om T
PRC
(1,2
49,9
99)
Post
Acq
uisit
ion
Adju
stm
ent t
o Ch
ange
s in
Equ
ity15
,717
Clos
ing
Bala
nce
as a
t 30
June
201
64,
101,
713
Inve
stm
ent i
n M
inda
rie$
Open
ing
Bala
nce
as a
t 1 J
uly
2015
5,15
5,27
4(b
ased
on
draf
t fi n
ancia
ls)
Reim
burs
emen
t of L
oan
Repa
ymen
ts22
,337
Post
Acq
uisit
ion
Adju
stm
ent t
o Ch
ange
s in
Equ
ity24
0,90
6
Clos
ing
Bala
nce
as a
t 30
June
201
65,
418,
517
87Notes to and Forming Part of the Financial Report
(c) M
inda
rie R
egio
nal C
ounc
il
Th
e M
inda
rie R
egio
nal C
ounc
il w
as fo
rmal
ly c
onst
itute
d in
Dec
embe
r 198
7. T
he T
own
of
Cam
brid
ge a
long
with
the
Citie
s of
Per
th, W
anne
roo,
Joo
ndal
up, S
tirlin
g an
d V
ince
nt a
nd th
e To
wn
of V
icto
ria P
ark,
is a
mem
ber o
f the
Min
darie
Reg
iona
l Cou
ncil.
The
prim
ary
func
tion
of th
e Re
gion
al C
ounc
il un
der t
he c
onst
itutio
n ag
reem
ent i
s fo
r the
ord
erly
and
effi
cie
nt
trea
tmen
t and
/or d
ispo
sal o
f was
te.
Th
e To
wn
of C
ambr
idge
has
a o
ne tw
elft
h (1
/12
) equ
ity in
the
land
and
ass
ets
of th
e re
fuse
di
spos
al fa
cilit
y as
per
the
cons
titut
ion
amen
dmen
t (da
ted
25
Nov
embe
r 199
6) th
at
reco
gnis
es th
e To
wn
as a
mem
ber o
f the
Min
darie
Reg
iona
l Cou
ncil.
Th
e To
wn
has
reco
gnis
ed in
its
book
s th
e in
vest
men
t of $
5,41
8,5
17 w
hich
is re
fl ec
ted
as a
co
ntrib
utio
n in
Min
darie
Reg
iona
l Cou
ncil’
s St
atem
ent o
f Fin
anci
al P
ositi
on a
t 30
June
201
6
(una
udite
d).
Th
e To
wn’
s in
tere
st in
the
join
t ven
ture
as
at 3
0 Ju
ne 2
016
is a
s fo
llow
s:
2016 $
Inte
rest
in th
e Jo
int v
entu
re a
s at
30
June
201
65,
418,
517
Re
pres
ente
d by
sha
re o
f Joi
nt v
entu
re e
ntity
’s fi
nanc
ial p
ositi
on:
Curre
nt A
sset
s2,
380,
325
Non
Curre
nt A
sset
s5,
282,
218
Tota
l Ass
ets
7,66
2,54
3
Curre
nt L
iabi
lities
888,
292
Non
Curre
nt L
iabi
lities
1,35
5,73
4To
tal L
iabi
lities
2,24
4,02
6
Net A
sset
s5,
418,
517
(i
v) T
amal
a Pa
rk R
egio
nal C
ounc
il
The
Tow
n is
a o
ne tw
elft
h (1
/12)
ow
ner o
f Lot
950
4 Ta
mal
a Pa
rk w
ith s
ix o
ther
Cou
ncils
(C
ities
of P
erth
, Joo
ndal
up, S
tirlin
g, V
ince
nt a
nd W
anne
roo
and
the
Tow
n of
Vic
toria
Par
k).
The
seve
n ow
ner c
ounc
ils h
ave
esta
blis
hed
the
Tam
ala
Park
Reg
iona
l Cou
ncil
with
the
spec
ifi c
func
tion
of c
arry
ing
out a
resi
dent
ial l
and
deve
lopm
ent,
know
n as
the
Cata
lina
Esta
te. A
s pa
rt o
wne
r of t
he la
nd, t
he T
own
is e
ntitl
ed to
one
twel
fth
of th
e ne
t pro
ceed
s of
the
land
dev
elop
men
t.
In 2
006,
the
Ow
ners
rece
ived
$16
.55
mill
ion
from
the
Stat
e G
over
nmen
t for
the
tran
sfer
of
par
t of t
he la
nd to
‘Bus
h Fo
reve
r’. T
his
prov
ided
the
initi
al s
tart
up
equi
ty fo
r the
pr
ojec
t, th
e To
wn’
s sh
are
bein
g $1
.35
mill
ion.
Lan
d sa
les
reta
ined
by
the
Tam
ala
Park
Re
gion
al C
ounc
il ha
ve fu
nded
the
stag
ed d
evel
opm
ent i
n ac
cord
ance
with
the
proj
ect
plan
and
dur
ing
the
year
, the
Cou
ncil
retu
rned
$15
mill
ion
in e
quity
to th
e ow
ners
, fro
m
land
sal
es. T
he T
own’
s sh
are
was
$1,
249,
999.
The
Tow
n’s
inte
rest
in th
e jo
int v
entu
re a
s at
30
June
201
6 is
as
follo
ws:
2016 $
Inte
rest
in th
e Jo
int v
entu
re a
s at
30
June
201
64,
101,
713
Repr
esen
ted
by s
hare
of J
oint
ven
ture
ent
ity’s
fi nan
cial p
ositio
n:
Curre
nt A
sset
s3,
961,
705
Non
Curre
nt A
sset
s16
0,94
7To
tal A
sset
s4,
122,
652
Curre
nt L
iabi
lities
16,2
18No
n Cu
rrent
Lia
biliti
es4,
721
Tota
l Lia
biliti
es20
,939
Net A
sset
s4,
101,
713
32.
Budg
et c
ompa
riso
ns –
non
ope
rati
ng
Net
Cur
rent
Ass
et P
osit
ion
The
net c
urre
nt a
sset
pos
ition
bal
ance
car
ried
forw
ard
from
the
prev
ious
fi na
ncia
l yea
r aft
er
adju
stm
ent f
or R
estr
icte
d A
sset
s fo
r the
pur
pose
of t
he 2
015
/20
16 b
udge
t was
$3,
636,
000.
The
actu
al n
et c
urre
nt a
sset
pos
ition
bal
ance
sho
wn
in th
e au
dite
d fi
nanc
ial r
epor
t as
at 3
0 Ju
ne
201
6 an
d af
ter a
djus
tmen
t for
Res
tric
ted
Ass
ets
was
$3,
42
9,50
0.
33.
Econ
omic
dep
ende
ncy
The
Tow
n do
es n
ot u
sual
ly re
ceiv
e a
sign
ifi ca
nt p
ortio
n of
reve
nue
by w
ay o
f gra
nts
from
the
Stat
e an
d Fe
dera
l Gov
ernm
ent.
How
ever
this
fi na
ncia
l yea
r the
tota
l am
ount
of c
ash
gran
t an
d co
ntrib
utio
ns re
ceiv
ed fr
om g
over
nmen
t sou
rces
for t
he y
ear e
nded
30
June
201
6 is
$
5,4
10,5
34 w
hich
repr
esen
ts 1
0.5%
of t
otal
reve
nue
of $
51,
351
,802
. A
furt
her n
on c
ash
cont
ribut
ion
of $
27,3
63,6
36 w
as re
ceiv
ed in
rela
tion
to th
e Pe
rry
Lake
s D
evel
opm
ent (
see
Not
e13)
. Th
e am
ount
of g
rant
s an
d co
ntrib
utio
ns re
ceiv
ed b
y pr
ogra
m is
dis
clos
ed in
Not
e 21
.
34.
Fina
ncia
l ris
k m
anag
emen
t Co
unci
l’s a
ctiv
ities
exp
ose
it to
a v
arie
ty o
f fi n
anci
al ri
sks
incl
udin
g pr
ice
risk,
cre
dit r
isk,
liqu
idity
ris
k an
d in
tere
st ra
te ri
sk.
The
Coun
cil’s
ove
rall
risk
man
agem
ent f
ocus
es o
n th
e un
pred
icta
bilit
y of
fi na
ncia
l mar
kets
and
see
ks to
min
imis
e po
tent
ial a
dver
se e
ffec
ts o
n th
e fi
nanc
ial
perf
orm
ance
of t
he C
ounc
il.
Coun
cil d
oes
not e
ngag
e in
tran
sact
ions
exp
ress
ed in
fore
ign
curr
enci
es a
nd is
ther
efor
e no
t su
bjec
t to
fore
ign
curr
ency
risk
.
Fina
ncia
l ris
k m
anag
emen
t is
carr
ied
out b
y th
e fi
nanc
e ar
ea u
nder
pol
icie
s ap
prov
ed b
y th
e Co
unci
l.
The
Coun
cil h
eld
the
follo
win
g fi
nanc
ial i
nstr
umen
ts a
t rep
ortin
g da
te:
Carr
ying
Val
ueFa
ir Va
lue
2016 $
2015 $
2016 $
2015 $
Fina
ncia
l Ass
ets
Cash
and
cas
h eq
uiva
lent
s17
,186
,154
32,5
44,9
7217
,186
,154
32,5
44,9
72Re
ceiva
bles
2,26
6,01
02,
236,
055
2,26
6,01
02,
236,
055
Held
-to-m
atur
ity in
vest
men
ts68
3,60
073
7,51
854
1,82
964
1,70
7
20,1
35,7
6435
,518
,545
19,9
93,9
9335
,422
,734
Fina
ncia
l Lia
bilit
ies
Paya
bles
6,64
4,75
56,
618,
156
6,64
4,75
56,
618,
156
Borro
win
gs13
,749
,518
13,2
15,0
0311
,943
,281
13,1
78,7
71
20,3
94,2
7319
,833
,159
18,5
88,0
3619
,796
,927
Fair
valu
e is
det
erm
ined
as
follo
ws:
• Ca
sh a
nd C
ash
Equi
vale
nts,
Rec
eiva
bles
, Pay
able
s -
estim
ated
to th
e ca
rryi
ng v
alue
whi
ch
appr
oxim
ates
net
mar
ket v
alue
.
• Bo
rrow
ings
- e
stim
ated
futu
re c
ash
fl ow
s di
scou
nted
by
the
curr
ent m
arke
t int
eres
t rat
es
appl
icab
le to
ass
ets
and
liabi
litie
s w
ith s
imila
r ris
k pr
ofi le
s.
• H
eld
to M
atur
ity in
vest
men
ts a
re b
ased
on
net r
ealis
able
val
ue a
s at
the
repo
rtin
g da
te.
(a)
Cash
and
Cas
h Eq
uiva
lent
s H
eld-
to-m
atur
ity in
vest
men
ts
Co
unci
l’s o
bjec
tive
is to
max
imis
e its
retu
rn o
n ca
sh a
nd in
vest
men
ts w
hils
t mai
ntai
ning
an
adeq
uate
leve
l of l
iqui
dity
and
pre
serv
ing
capi
tal.
The
fi na
nce
area
man
ages
the
cash
and
in
vest
men
ts p
ortf
olio
with
the
assi
stan
ce o
f an
inde
pend
ent a
dvis
er. C
ounc
il ha
s an
inve
stm
ent
polic
y an
d th
e po
licy
is s
ubje
ct to
revi
ew b
y Co
unci
l. A
n In
vest
men
t Rep
ort i
s pr
ovid
ed to
Co
unci
l on
a m
onth
ly b
asis
set
ting
out t
he m
ake-
up a
nd p
erfo
rman
ce o
f the
por
tfol
io.
Th
e m
ajor
risk
ass
ocia
ted
with
inve
stm
ents
is p
rice
risk
- th
e ris
k th
at th
e ca
pita
l val
ue o
f in
vest
men
ts m
ay fl
uctu
ate
due
to c
hang
es in
mar
ket p
rices
, whe
ther
thes
e ch
ange
s ar
e ca
used
by
fact
ors
spec
ifi c
to in
divi
dual
fi na
ncia
l ins
trum
ents
of t
heir
issu
ers
or fa
ctor
s af
fect
ing
sim
ilar i
nstr
umen
ts tr
aded
in a
mar
ket.
Ca
sh a
nd in
vest
men
ts a
re a
lso
subj
ect t
o in
tere
st ra
te ri
sk -
the
risk
that
mov
emen
ts in
in
tere
st ra
tes
coul
d af
fect
retu
rns.
A
noth
er ri
sk a
ssoc
iate
d w
ith c
ash
and
inve
stm
ents
is c
redi
t ris
k -
the
risk
that
a c
ontr
actin
g en
tity
will
not
com
plet
e its
obl
igat
ions
und
er a
fi na
ncia
l ins
trum
ent r
esul
ting
in a
fi na
ncia
l loss
to C
ounc
il.
Co
unci
l man
ages
thes
e ris
ks b
y di
vers
ifyi
ng it
s po
rtfo
lio a
nd o
nly
purc
hasi
ng in
vest
men
ts
with
hig
h cr
edit
ratin
gs o
r cap
ital g
uara
ntee
s. C
ounc
il al
so s
eeks
adv
ice
from
an
inde
pend
ent
advi
sor b
efor
e pl
acin
g an
y ca
sh in
to in
vest
men
ts.
88 Town of Cambridge Annual Report 2015-2016
32.
Budg
et c
ompa
riso
ns –
non
ope
rati
ng
Net
Cur
rent
Ass
et P
osit
ion
The
net c
urre
nt a
sset
pos
ition
bal
ance
car
ried
forw
ard
from
the
prev
ious
fi na
ncia
l yea
r aft
er
adju
stm
ent f
or R
estr
icte
d A
sset
s fo
r the
pur
pose
of t
he 2
015
/20
16 b
udge
t was
$3,
636,
000.
The
actu
al n
et c
urre
nt a
sset
pos
ition
bal
ance
sho
wn
in th
e au
dite
d fi
nanc
ial r
epor
t as
at 3
0 Ju
ne
201
6 an
d af
ter a
djus
tmen
t for
Res
tric
ted
Ass
ets
was
$3,
42
9,50
0.
33.
Econ
omic
dep
ende
ncy
The
Tow
n do
es n
ot u
sual
ly re
ceiv
e a
sign
ifi ca
nt p
ortio
n of
reve
nue
by w
ay o
f gra
nts
from
the
Stat
e an
d Fe
dera
l Gov
ernm
ent.
How
ever
this
fi na
ncia
l yea
r the
tota
l am
ount
of c
ash
gran
t an
d co
ntrib
utio
ns re
ceiv
ed fr
om g
over
nmen
t sou
rces
for t
he y
ear e
nded
30
June
201
6 is
$
5,4
10,5
34 w
hich
repr
esen
ts 1
0.5%
of t
otal
reve
nue
of $
51,
351
,802
. A
furt
her n
on c
ash
cont
ribut
ion
of $
27,3
63,6
36 w
as re
ceiv
ed in
rela
tion
to th
e Pe
rry
Lake
s D
evel
opm
ent (
see
Not
e13)
. Th
e am
ount
of g
rant
s an
d co
ntrib
utio
ns re
ceiv
ed b
y pr
ogra
m is
dis
clos
ed in
Not
e 21
.
34.
Fina
ncia
l ris
k m
anag
emen
t Co
unci
l’s a
ctiv
ities
exp
ose
it to
a v
arie
ty o
f fi n
anci
al ri
sks
incl
udin
g pr
ice
risk,
cre
dit r
isk,
liqu
idity
ris
k an
d in
tere
st ra
te ri
sk.
The
Coun
cil’s
ove
rall
risk
man
agem
ent f
ocus
es o
n th
e un
pred
icta
bilit
y of
fi na
ncia
l mar
kets
and
see
ks to
min
imis
e po
tent
ial a
dver
se e
ffec
ts o
n th
e fi
nanc
ial
perf
orm
ance
of t
he C
ounc
il.
Coun
cil d
oes
not e
ngag
e in
tran
sact
ions
exp
ress
ed in
fore
ign
curr
enci
es a
nd is
ther
efor
e no
t su
bjec
t to
fore
ign
curr
ency
risk
.
Fina
ncia
l ris
k m
anag
emen
t is
carr
ied
out b
y th
e fi
nanc
e ar
ea u
nder
pol
icie
s ap
prov
ed b
y th
e Co
unci
l.
The
Coun
cil h
eld
the
follo
win
g fi
nanc
ial i
nstr
umen
ts a
t rep
ortin
g da
te:
Carr
ying
Val
ueFa
ir Va
lue
2016 $
2015 $
2016 $
2015 $
Fina
ncia
l Ass
ets
Cash
and
cas
h eq
uiva
lent
s17
,186
,154
32,5
44,9
7217
,186
,154
32,5
44,9
72Re
ceiva
bles
2,26
6,01
02,
236,
055
2,26
6,01
02,
236,
055
Held
-to-m
atur
ity in
vest
men
ts68
3,60
073
7,51
854
1,82
964
1,70
7
20,1
35,7
6435
,518
,545
19,9
93,9
9335
,422
,734
Fina
ncia
l Lia
bilit
ies
Paya
bles
6,64
4,75
56,
618,
156
6,64
4,75
56,
618,
156
Borro
win
gs13
,749
,518
13,2
15,0
0311
,943
,281
13,1
78,7
71
20,3
94,2
7319
,833
,159
18,5
88,0
3619
,796
,927
Fair
valu
e is
det
erm
ined
as
follo
ws:
• Ca
sh a
nd C
ash
Equi
vale
nts,
Rec
eiva
bles
, Pay
able
s -
estim
ated
to th
e ca
rryi
ng v
alue
whi
ch
appr
oxim
ates
net
mar
ket v
alue
.
• Bo
rrow
ings
- e
stim
ated
futu
re c
ash
fl ow
s di
scou
nted
by
the
curr
ent m
arke
t int
eres
t rat
es
appl
icab
le to
ass
ets
and
liabi
litie
s w
ith s
imila
r ris
k pr
ofi le
s.
• H
eld
to M
atur
ity in
vest
men
ts a
re b
ased
on
net r
ealis
able
val
ue a
s at
the
repo
rtin
g da
te.
(a)
Cash
and
Cas
h Eq
uiva
lent
s H
eld-
to-m
atur
ity in
vest
men
ts
Co
unci
l’s o
bjec
tive
is to
max
imis
e its
retu
rn o
n ca
sh a
nd in
vest
men
ts w
hils
t mai
ntai
ning
an
adeq
uate
leve
l of l
iqui
dity
and
pre
serv
ing
capi
tal.
The
fi na
nce
area
man
ages
the
cash
and
in
vest
men
ts p
ortf
olio
with
the
assi
stan
ce o
f an
inde
pend
ent a
dvis
er. C
ounc
il ha
s an
inve
stm
ent
polic
y an
d th
e po
licy
is s
ubje
ct to
revi
ew b
y Co
unci
l. A
n In
vest
men
t Rep
ort i
s pr
ovid
ed to
Co
unci
l on
a m
onth
ly b
asis
set
ting
out t
he m
ake-
up a
nd p
erfo
rman
ce o
f the
por
tfol
io.
Th
e m
ajor
risk
ass
ocia
ted
with
inve
stm
ents
is p
rice
risk
- th
e ris
k th
at th
e ca
pita
l val
ue o
f in
vest
men
ts m
ay fl
uctu
ate
due
to c
hang
es in
mar
ket p
rices
, whe
ther
thes
e ch
ange
s ar
e ca
used
by
fact
ors
spec
ifi c
to in
divi
dual
fi na
ncia
l ins
trum
ents
of t
heir
issu
ers
or fa
ctor
s af
fect
ing
sim
ilar i
nstr
umen
ts tr
aded
in a
mar
ket.
Ca
sh a
nd in
vest
men
ts a
re a
lso
subj
ect t
o in
tere
st ra
te ri
sk -
the
risk
that
mov
emen
ts in
in
tere
st ra
tes
coul
d af
fect
retu
rns.
A
noth
er ri
sk a
ssoc
iate
d w
ith c
ash
and
inve
stm
ents
is c
redi
t ris
k -
the
risk
that
a c
ontr
actin
g en
tity
will
not
com
plet
e its
obl
igat
ions
und
er a
fi na
ncia
l ins
trum
ent r
esul
ting
in a
fi na
ncia
l loss
to C
ounc
il.
Co
unci
l man
ages
thes
e ris
ks b
y di
vers
ifyi
ng it
s po
rtfo
lio a
nd o
nly
purc
hasi
ng in
vest
men
ts
with
hig
h cr
edit
ratin
gs o
r cap
ital g
uara
ntee
s. C
ounc
il al
so s
eeks
adv
ice
from
an
inde
pend
ent
advi
sor b
efor
e pl
acin
g an
y ca
sh in
to in
vest
men
ts.
89Notes to and Forming Part of the Financial Report
Sens
itivi
ty A
naly
sis
30 J
une
2016 $
30 J
une
2015 $
Impa
ct o
f a 2
.5%
(201
4/20
15:5
%*)
mov
emen
t in
price
of i
nves
tmen
tsEq
uity
17,0
0037
,000
Stat
emen
t of C
ompr
ehen
sive
Inco
me
17,0
0037
,000
Impa
ct o
f a 0
.25%
(201
4/20
15:0
.5%
) mov
emen
t in
inte
rest
rate
s on
cas
h an
d in
vest
men
ts:
Equi
ty45
,000
166,
000
Stat
emen
t of C
ompr
ehen
sive
Inco
me
45,0
0016
6,00
0
N
otes
: (*
) Se
nsiti
vity
per
cent
ages
bas
ed o
n m
anag
emen
t’s e
xpec
tatio
n of
futu
re p
ossi
ble
mar
ket m
ovem
ents
.
(b)
Rece
ivab
les
Co
unci
l’s m
ajor
rece
ivab
les
com
pris
e ra
tes
and
annu
al c
harg
es a
nd u
ser c
harg
es a
nd fe
es.
The
maj
or ri
sk a
ssoc
iate
d w
ith th
ese
rece
ivab
les
is c
redi
t ris
k -
the
risk
that
the
debt
s m
ay
not b
e re
paid
. Co
unci
l man
ages
this
risk
by
mon
itorin
g ou
tsta
ndin
g de
bt a
nd e
mpl
oyin
g de
bt
reco
very
pol
icie
s.
Cr
edit
risk
on ra
tes
and
annu
al c
harg
es is
min
imis
ed b
y th
e ab
ility
of C
ounc
il to
reco
ver t
hese
de
bts
as a
sec
ured
cha
rge
over
the
land
- th
at is
, the
land
can
be
sold
to re
cove
r the
deb
t.
Coun
cil i
s al
so a
ble
to c
harg
e in
tere
st o
n ov
erdu
e ra
tes
and
annu
al c
harg
es a
t hig
her t
han
mar
ket r
ates
, whi
ch fu
rthe
r enc
oura
ges
paym
ent.
Th
e le
vel o
f out
stan
ding
rece
ivab
les
is re
port
ed to
Cou
ncil
mon
thly
and
ben
chm
arks
are
set
an
d m
onito
red
for a
ccep
tabl
e co
llect
ion
perf
orm
ance
.
Co
unci
l mak
es s
uita
ble
prov
isio
n fo
r dou
btfu
l rec
eiva
bles
as
requ
ired
and
carr
ied
out c
redi
t ch
ecks
on
mos
t non
rate
deb
tors
.
Th
ere
are
no m
ater
ial r
ecei
vabl
es th
at h
ave
been
sub
ject
to a
re-n
egot
iatio
n of
repa
ymen
t te
rms.
Th
e pr
ofi le
of C
ounc
il’s
cred
it ris
k at
repo
rtin
g da
te w
as:
30 J
une
2016
30 J
une
2015
Perc
enta
ge o
f Rat
es a
nd A
nnua
l Cha
rges
Curre
nt0%
0%Ov
erdu
e10
0%10
0%ll r
ates
out
stan
ding
at y
ear e
nd fo
r 201
5/20
16 a
re re
gard
ed a
s be
ing
over
due
Perc
enta
ge o
f Oth
er R
ecei
vabl
es:
Curre
nt47
%37
%Ov
erdu
e53
%63
%
Tr
ade
rece
ivab
les
outs
tand
ing
for m
ore
than
thirt
y da
ys a
re c
onsi
dere
d to
be
over
due.
Coun
cil’s
term
s of
trad
e ar
e th
irty
days
.
(c)
Paya
bles
Bo
rrow
ings
Pa
yabl
es a
nd b
orro
win
gs a
re b
oth
subj
ect t
o liq
uidi
ty ri
sk -
that
is th
e ris
k th
at in
suffi
cie
nt
fund
s m
ay b
e on
han
d to
mee
t pay
men
t obl
igat
ions
as
and
whe
n th
ey fa
ll du
e. C
ounc
il m
anag
es th
is ri
sk b
y m
onito
ring
its c
ash
fl ow
requ
irem
ents
and
liqu
idity
leve
ls a
nd
mai
ntai
ning
an
adeq
uate
cas
h bu
ffer
.
Th
e co
ntra
ctua
l und
isco
unte
d ca
sh fl
ows
of C
ounc
il’s
Paya
bles
and
Bor
row
ings
are
set
out
in
the
Liqu
idity
Sen
sitiv
ity T
able
bel
ow:
Due
with
in1
Year $
Due
betw
een
1 an
d 5
Year
s $
Due
afte
r5
Year
s $
Tota
lco
ntra
ctua
lca
sh fl
ows $
Carr
ying
valu
es $
2015
Paya
bles
6,61
8,15
6
-
-6,
618,
156
6,61
8,15
6
Borro
win
gs98
7,40
03,
901,
178
12,1
65,7
9417
,054
,372
13,2
15,0
03
7,60
5,55
63,
901,
178
12,1
65,7
9423
,672
,528
19,8
33,1
59
2016
Paya
bles
6,64
4,75
5
-
-6,
644,
755
6,64
4,75
5
Borro
win
gs2,
102,
261
3,85
4,87
410
,916
,171
16,8
73,3
0713
,749
,518
8,74
7,01
63,
854,
874
10,9
16,1
7123
,518
,062
20,3
94,2
73
Bo
rrow
ings
are
als
o su
bjec
t to
inte
rest
rate
risk
- th
e ris
k th
at m
ovem
ents
in in
tere
st ra
tes
coul
d ad
vers
ely
affe
ct fu
ndin
g co
sts.
Cou
ncil
man
ages
this
risk
by
borr
owin
g lo
ng te
rm
and
fi xi
ng th
e in
tere
st ra
te to
the
situ
atio
n co
nsid
ered
the
mos
t adv
anta
geou
s at
the
time
of n
egot
iatio
n.
90 Town of Cambridge Annual Report 2015-2016
The
follo
win
g ta
bles
set
out
the
carr
ying
am
ount
of t
he fi
nanc
ial i
nstr
umen
ts e
xpos
ed to
inte
rest
rate
risk
:
< 1
Year $
> 1
< 2
Year
s $>
2 <
3 Ye
ars $
> 3
< 4
Year
s $>
4 <
5 Ye
ars $
> 5
Year
s $To
tal $
Wei
ghte
d Av
erag
e Ef
fect
ive
Inte
rest
Rat
e %
Year
End
ed 3
0 Ju
ne 2
015
Borr
owin
gs
Fixe
d Ra
te
Debe
ntur
es58
8,96
060
9,60
561
0,19
562
7,63
664
6,99
710
,131
,610
13,2
15,0
03
Wei
ghte
d Av
erag
e
Effe
ctive
Inte
rest
Rat
e3.
02%
2.99
%2.
98%
3.03
%3.
02%
3.00
%-
3.01
%
Year
End
ed 3
0 Ju
ne 2
016
Borr
owin
gs
Fixe
d Ra
te
Debe
ntur
es1,
766,
817
643,
958
638,
266
656,
992
676,
460
9,36
7,02
513
,749
,518
Wei
ghte
d Av
erag
e
Effe
ctive
Inte
rest
Rat
e2.
44%
2.82
%2.
82%
2.81
%2.
80%
2.90
%-
2.76
%
91Notes to and Forming Part of the Financial Report
35.
Aud
itor
s re
mun
erat
ion
30 J
une
2016 $
30 J
une
2015 $
Audi
t of F
inan
cial R
epor
t 2
6,60
6 2
7,92
4 Ot
her S
ervic
es 1
2,35
6 1
,200
38,
962
29,
124
The
abov
e fe
es re
late
to p
rovi
sion
of e
xter
nal a
udit
serv
ices
onl
y.
36.
Fina
ncia
l rat
ios
of th
e ac
coun
tsRa
tio20
1220
1320
1420
1520
16
Curr
ent R
atio
(Cur
rent
ass
ets
min
us re
stric
ted
asse
ts)
2.18
:11.
65:1
1.22
:11.
56:1
4.31
:1(C
urre
nt lia
biliti
es m
inus
liabi
lities
ass
ocia
ted
with
rest
ricte
d as
sets
)
Debt
Ser
vice
Cov
er R
atio
Annu
al O
pera
ting
Surp
lus
befo
re in
tere
st a
nd e
xpen
ditu
re9.
9521
.76
30.0
910
.03
11.3
4Pr
incip
al a
nd In
tere
st
Own
Sour
ce R
even
ue C
over
age
Ratio
Own
Sour
ce O
pera
ting
Expe
nse
0.97
1.15
1.39
1.09
1.04
Oper
atin
g Ex
pens
e
Oper
atin
g Su
rplu
s Ra
tioOp
erat
ing
Reve
nue
less
Ope
ratin
g Ex
pens
e4.
3%19
.1%
33.0
%18
.3%
8.5%
Own
Sour
ce O
pera
ting
Reve
nue
Asse
t Con
sum
ptio
n Ra
tioDe
prec
iate
d Re
plac
emen
t Cos
t of D
epre
ciabl
e As
sets
56.7
%56
.9%
58.1
%54
.1%
56.5
%Cu
rrent
Rep
lace
men
t Cos
t of D
epre
ciabl
e As
sets
Asse
t Sus
tain
abili
ty R
atio
Capi
tal R
enew
al a
nd R
epla
cem
ent E
xpen
ditu
re1.
91.
141.
161.
514.
34De
prec
iatio
n
Asse
t Ren
ewal
Fun
ding
Rat
io #
NPV
of P
lann
ed C
apita
l Ren
ews
over
10
year
sN/
A1.
01.
01.
01.
0NP
V of
Req
uire
d Ca
pita
l Exp
endi
ture
ove
r 10
year
s
# F
or th
e as
set r
enew
al fu
ndin
g ra
tio, t
he a
ssum
ptio
n ha
s be
en m
ade
that
pla
nned
ass
et re
new
al
expe
nditu
re o
ver t
he n
ext 1
0 ye
ars
will
be
in li
ne w
ith re
quire
d ca
pita
l exp
endi
ture
.
Curr
ent R
atio
Purp
ose:
To
asse
ss a
dequ
acy
of w
orki
ng c
apita
l and
the
abili
ty to
sat
isfy
sho
rt te
rm o
blig
atio
ns.
Deb
t Ser
vice
Cov
er R
atio
Purp
ose:
To
mea
sure
the
abili
ty to
repa
y de
bt in
clud
ing
leas
e pa
ymen
ts.
Ow
n So
urce
Rev
enue
Cov
erag
e Ra
tio
Purp
ose:
To
mea
sure
the
abili
ty to
cov
er o
pera
ting
cost
s fr
om it
s ow
n so
urce
of r
even
ue.
Ope
ratin
g Su
rplu
s Ra
tio
Purp
ose:
To
mea
sure
the
abili
ty to
cov
er o
pera
tiona
l cos
ts a
nd a
ny re
mai
ning
reve
nue
avai
labl
e fo
r cap
ital f
undi
ng o
r oth
er p
urpo
ses.
Ass
et C
onsu
mpt
ion
Ratio
Purp
ose:
To
mea
sure
the
exte
nt to
whi
ch d
epre
ciab
le a
sset
s ha
ve b
een
cons
umed
.
Ass
et S
usta
inab
ility
Rat
io
Purp
ose:
To
asse
ss th
e ra
te o
f rep
laci
ng o
r ren
ewin
g ex
istin
g no
n fi
nanc
ial a
sset
s to
the
cons
umpt
ion
rate
of t
otal
ass
et s
tock
.
Ass
et R
enew
al F
undi
ng R
atio
Purp
ose:
To
mea
sure
the
abili
ty to
fund
futu
re p
roje
cted
ass
et re
new
al o
r rep
lace
men
t.
92 Town of Cambridge Annual Report 2015-2016
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T: 08 9347 6000
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