ANNUAL REPORT2014 - 2015
Town of Cambridge Annual Report 2014-15
Cambridge is a place where things happen. Stylish new and enhanced development will create hubs of community activity - places where families and friends get together, where business thrives and access is easy. Housing will become more diverse to accommodate people at different life stages and our suburban landscape will enhance its appeal through beautiful green and open spaces.
Our Vision
CONTENTSMayor’s Report ............................................................................................................................................................ 3
Elected Members ........................................................................................................................................... 4-5
Ward Boundaries ...................................................................................................................................................... 6
Committees and working groups .............................................................................................. 7
Council Functional Structure .............................................................................................................. 8
Executive Management & Operational Managers ..................................... 9
Chief Executive Officer’s Report .............................................................................. 10-11
Projects ................................................................................................................................................................... 12-14
Corporate and Strategic ............................................................................................................ 15-19
Community Development ................................................................................................... 20-27
Development and Sustainability .............................................................................. 28-37
Infrastructure .............................................................................................................................................. 38-41
Infrastructure Parks ......................................................................................................................... 42-47
About our Town ....................................................................................................................................... 48-49
Financial Report .................................................................................................................................................... 50
1Our Vision
BUSINESS PHILOSOPHYWe are committed to making decisions in the interests of both current and future generations. Our approach will be based on the following ideals:
Partnerships/RelationshipsProductive relationships with industry, the State Government and other Local Governments to deliver improved cost effective services.
Community CentredMeeting the needs of our communities through strong community consultation, engagement and collaboration.
SustainabilityEmbracing the principles of sustainability in our decision making to balance the needs of both current and future generations through environmental protection, social advancement and economic prosperity.
Enhanced ServicesContinued improvement to our services through planning, adaptability and careful management of risks.
VALUESIn everything we do, we will seek to adhere to a set of values that guides our attitudes and behaviours.
Friendly and HelpfulWe value our customers and our work colleagues and will assist them in the best way we can.
TeamworkWe believe teamwork is essential for improving our services and achieving our goals.
CreativityWe can improve the way we do business by challenging the status .
IntegrityWe will act responsibly, place trust in each other and will be accountable for our actions.
2 Town of Cambridge Annual Report 2014-15
Major ProjectsWe will soon be nearing the end of our major projects construction program.
The facilities we have built, or are in the process of building, are more than replacement facilities. They are major upgrades to the facilities they are replacing in terms of design, functionality and quality.
All have significant architectural merit and will be showpieces for their purposes.
The new, completely rebuilt Bold Park Aquatic Centre, comprises two beautiful buildings as well as modern swimming facilities.
The new surf lifesaving club building at City Beach will be iconic, both as a surf lifesaving clubhouse and as the central point of City Beach.
And the new restaurant and function centre at Wembley Golf Course will be wonderful to look at, as well as to drink in or dine in.
It will also be the final piece in the jigsaw that is our plan to transform the old Wembley golf course, with its dated terracotta tile buildings and chicken coop driving range, that many of us knew in our youth, to a modern, magnificent golf centre.
The new developments will also redefine the way we use those facilities.
The Aquatic Centre will also become a community centre. There will still be patrons swimming and leaving, but now there will be greater opportunity for people to slow down, relax and socialise. The cafe, the barbecues, the kids pool and the crèche will encourage people to stay longer.
The new surf lifesaving club building is also the retaining wall for a new, elevated park in the centre of City Beach and three new restaurants. Together these buildings will transform City Beach and the way we use it.
And Wembley Golf Course will have a lot to offer non-golfers, with catering for large functions and a new mini golf course for children.
Other ProjectsStage II of the skate park in Floreat has been completed, along with a full size basketball court (which could be the first of many). It is wonderful to see not only the excitement of the kids who use this facility, but the public acceptance of a facility which began its life in controversy.
Finally, the widening of the footpaths and medians, and narrowing of Cambridge Street, to create the long sought after Town Centre in West Leederville, with a safer pedestrian and traffic environment, has been completed.
It was a very long and expensive process, but it is a good result.
Planning and housing The Cambridge Street works were undertaken as part of the West Leederville Activity Centre Plan, which has been the catalyst for a lot of new development in the area, and we hope that the works will lead to further and better development.
Work has also commenced on the Wembley Town Centre Activity Centre Plan to promote and control development in that area.
This year saw the culmination of five years work and consultation on our housing strategy. We have already introduced a Housing Options Policy (2013) and a Streetscape Policy, reduced front setbacks in City Beach and Floreat, and initiated Town Planning Scheme changes to improve the presentation of Grantham Street in Wembley (2014).
The Town’s housing diversity proposals (Town Planning Scheme Amemdement 31) were advertised in early 2015. There was considerable feedback from residents, which was considered by the Council and resulted in a large number of changes being made to the proposed amendment, which has been sent to the WAPC for consideration.
SIMONWITHERS
Mayor’sReport
3Mayor’s Report
Local Government Reform ProcessThe collapse of the state government’s local government amalgamation process brought to an end five years of toil and misery. An enormous amount of time, energy and money was committed to this process by the Town of Cambridge and many other councils, all of which is now written off.
The Town supported a merger with the City of Subiaco and taking in the suburbs of Wembley Downs, Churchlands and part of Woodlands to our north. This would have doubled our size and created a very good council around a number of interlocking communities.
The opportunity has now been lost and won’t come back for many years. The great tragedy is that we had the opportunity to create an enlarged council based on what worked for us.
When the state government revisits amalgamations I doubt that they will give local government the same level of involvement in the process and the result may be detrimental for our residents (and those of Subiaco).
Looking ahead
We have set in train a number of sales and ventures that will see around $100 million flow into the Town in the near future, an amount of money that can only be described as an embarrassment of riches.
The Town has also been working on long term plans for finance and asset management.
Completing this planning and bringing together the long term asset management model with the funding model and expected future cashflows will be a major challenge, but one that needs to be done well to manage our wealth. It will also be a major opportunity.
We have a lot to look forward to.
Simon Withers
Mayor
4 Town of Cambridge Annual Report 2014-15
Elected Members
MayorSimon Withers 30 Branksome Gardens CITY BEACH 6015
Tel 9347 6014Fax 9347 6066 email [email protected] Term ends October 2015
Deputy MayorCr Alan Langer45 The Boulevard FLOREAT 6014
Tel/Fax 9284 1273Mob 0458 760 623email [email protected] Term ends October 2015
Cr Sonia Grinceri493B Cambridge Street FLOREAT 6014
Tel/Fax 9284 1273Mob 0458 760 623email [email protected] Term ends October 2017
Cr Rod Bradley12 Lowanna Way CITY BEACH 6015
Tel 9385 7000 Fax 9389 8326Mob 0412 953 100email [email protected] Term ends October 2015
5Elected Members
Council and Committee meetings
Ordinary meetings of Council are held on the fourth Tuesday of each month, starting at 6pm. All council and committee meetings (unless decided otherwise by the Council) are open to the public. Special meetings of Council are held as required.
The Council was supported by three Standing committees – the Community and Resources Committee and the Development Committee which meet each month and make recommendations to Council, and the Audit Committee, which meets as required, generally three to four times a year.
Council and committee minutes and agendas are available at www.cambridge.wa.gov.au
Cr Colin Walker6 Gali Lane CITY BEACH 6015
Mob 0411 449 936email [email protected] Term ends October 2015
Cr Louis Carr51B Simper Street WEMBLEY 6014
Tel 9387 8333Mob 0417 733 113email [email protected] Term ends October 2015
Cr Pauline O’Connor JP1 Talgarth Way CITY BEACH 6015
Tel 9285 1126Mob 0412 085 850email [email protected] Term ends October 2017
Cr Corinne MacRae67 Blencowe Street WEST LEEDERVILLE 6007
Tel 9381 8327Fax 9388 3985email [email protected] Term ends October 2017
Cr Tracey King3/246 Vincent Street WEST LEEDERVILLE 6007
Mob 0406 603 942email [email protected] Term ends October 2017
Town of Cambridge Annual Report 2014-156
Ward Boundaries
Salvado Road
Grantham Street
Underwood Avenue
Powis StreetJon Sanders Drive
Bo
ld P
ark
Dri
ve
The Boulevard
CromartyRoad
Empire Avenue
Bro
mp
ton
Ro
ad
Wes
t C
oas
t H
igh
way
Oceanic Drive
FLOREATBEACH
WEMBLEYWARDCITY
BEACH
Har
bo
rne
Stre
et
Herdman Par
ade
Mitchell Freeway
Cambridge Street
Railway Parade
Lake Monger Drive
Loftus S
tree
t
Step
hens
on A
venu
e
COASTWARD
LAKEMONGER
PERRYLAKES
Town Boundary
Ward Boundary
Town of CambridgeAdministration & Civic Centre1 Bold Park Drive, Floreat
Wembley Golf CourseThe Boulevard, Floreat
Surf Lifesaving ClubsQuarry AmphitheatreOceanic Drive, City Beach
Town of Cambridge DepotLemnos Street, Shenton Park
Bold Park Aquatic CentreThe Boulevard, Floreat
Leederville Town Hall84 Cambridge StreetWest Leederville
Number 86 Youth Centre86 Cambridge StreetWest Leederville
Cambridge Library andThe Boulevard Centre99 The Boulevard, Floreat
Matthews Netball Centre199 Salvado Road, Wembley
Wembley Community Centre40 Alexander Street, Wembley
7Ward Boundaries I Committees and working groups
Committees and working groups
TOWN REPRESENTATIVES AND DELEGATES
Mindarie Regional Council Mayor Withers
Tamala Park Regional Council Cr Carr
Local Government Association Central Metropolitan Zone Crs O'Connor and Walker
Cambridge Coastcare Inc. Cr Walker
Perry Lakes Reserve Working Group All Elected Members (on interest basis)
Lake Monger Working Group All Elected Members (on interest basis)
Public Art Committee Crs King, MacRae and Grinceri
Town Planning Scheme Review Steering Committee Mayor, Crs Bradley, Walker and Carr
Western Suburbs Regional Organisation of Councils (WESROC) Observer status: Mayor and CEO
CEO Performance Review Committee Mayor Withers, Crs Bradley, Grinceri and Langer
Major Projects and Underground Power Steering Committee Mayor Withers, Crs Walker and Langer
RATEPAYER AND RESIDENT ASSOCIATIONWest Leederville Residents Association Inc.
Anne Lake (President)
PO Box 1439, West Leederville, WA 6901
Website: www.wlra.org.au
Wembley West Leederville Residents Association Inc.
Mr Robert Dickinson
102 Pangbourne Street, Wembley, WA 6014
Telephone: 9387 6750
Floreat Ratepayers/Residents Association Inc.
This association is currently inactive
Coast Ward Ratepayers Association Inc.
Mr Rob Walker (President)
14 Palani Rd, City Beach, WA 6015
Email: [email protected]
8 Town of Cambridge Annual Report 2014-15
Council Functional Structure
MAYOR AND COUNCILORS (8)Committee Meetings held monthly
CHIEF EXECUTIVE OFFICER
DIRECTORS
Corporate and Strategic
• Finance• Contracts/Purchasing• Information Technology• Property (Land and
Leasing)• Customer Service• Document Management• Corporate
Communications• Governance and Contracts• Human Resources
Infrastructure
• Engineering (Design and Investigations
• Waste Management• Building Management• Works• Parks• Depot Operations• Fleet Management• Underground Power• Asset Management
Community Development
• Community Development• Disability Services• Senior Services• Youth Services• Community Safety• Facilities Management• Library Services• Bold Park Aquatic Centre• Wembley Golf Course
Projects
• Wembley Sports Park• City Beach Surf Club
Building and Commercial Development
• West Leederville Centre• Wembley Golf Course
Hospitality, Miniature Golf and Playground
• Former Nursery Site Development
• Area G Mt Claremont Development
• Bold Park Aquatic Centre Development
• Other Projects
Development and Sustainability
• Planning Services• Building Services• Environment Health• Sustainability• Development Liaison/
Compliance• Ranger Services• Beach Inspections
9Council Functional Structure I Executive Management and Operational Managers
CHIEF EXECUTIVE OFFICER Jason Buckley
DIRECTOR CORPORATEAND STRATEGICJason Lyon
Governance, Human Resources, Finance, Contracts / Purchasing,Information Technology, Communications, Property (Land and Leasing), Customer Services,Document Management, Strategic and Corporate Business Planning.
Manager FinanceRoy Ruitenga
Manager Information Technology and CommunicationsSteve Platts
Manager Governance and ContractsStuart Hobley
Manager Human ResourcesAnn Blakeny-Britter
DIRECTOR COMMUNITY DEVELOPMENTCam Robbins
Community Development, Disability Services, Senior Services, Youth Services, Community Safety, Facilities Management, Library Services, Bold Park Aquatic Centre, Wembley Golf Course.
Manager Community DevelopmentCarole Lambert
Manager Library ServicesNerida Clifford
General Manager Wembley Golf CourseMatthew Day
DIRECTOR DEVELOPMENT AND SUSTAINABILITY Ian Bignell
Planning Services, Building Services, Environmental Health Services, Sustainability Development Liaison and Compliance, Ranger Services, Beach Inspections.
Manager DevelopmentStev Rodic
Manager ComplianceLee Rowley (Retired March 2015)
John Giorgi (Mar 2015 - June 2015)
DIRECTOR INFRASTRUCTUREChris Colyer
Engineering (Design and Investigations), Waste Management, Building Management, Works, Parks, Depot Operations, Fleet Management.
Manager Infrastructure WorksJon Bell
Manager Infrastructure (Assets and Design)Peter Maloney
Manager Infrastructure ParksRoss Farlekas
DIRECTOR PROJECTSBrett Jackson
Major Projects
Executive Management and Operational Managers
10 Town of Cambridge Annual Report 2014-15
The last financial year has been very interesting for the Town of Cambridge with two significant issues creating a year of two halves.
Part 1 - Local Government ReformThe early part of the year was dominated by local government reform with the Local Government Advisory Board submitting their recommendations to the Minister for Local Government in July 2014. The recommendation supported the Town’s boundary proposal to expand including most of City of Subiaco and parts of Stirling and Nedlands and to call the new council City of Subiaco.
In October 2014 the Government decided that it would accept most of the recommendations of the Local Government Advisory Board. However, north City Beach was not proposed to remain in the new council and significant work was undertaken with that community to submit a further proposal to the Local Government Advisory Board for that area to be in the new council combining with Subiaco.
The Government did not gazette the Governor's Orders until 24 December 2014 and it was after this time the Town was able to form a Local Implementation Committee (LIC) with Subiaco. Work had commenced at a staff level to plan the implementation of the "New" Subiaco that was to be established from 1 July 2015.
No sooner had the collaboration between the two councils got off to a very positive start that the State Government decided to abandon the mergers after polls were held in three other councils that prevented the mergers in those areas. A significant amount of work was undertaken during the year to prepare for the merger and particularly in January and February as the merger appeared imminent.
Despite the outcome the process did allow Subiaco and Cambridge to establish a closer working relationship and benefits were gained as the staff learned how processes and systems differ between the organisations. It is hoped that we will be able to continue with a positive working relationship for the mutual benefit of both organisations.
At this point I would like to sincerely thank all the staff at the Town for their support and patience through a very unsettling period created by the uncertainty of the mergers. I was genuinely pleased at how professional and positive the attitude of our staff was during the reform process. Although it was a very busy period the staff continued to provide excellent service to the community that did not decline during this tumultuous period.
Part 2 - Housing ChoicesThe second half of the year was dominated by a significant planning initiative with a town planning scheme amendment (Amendment 31) initiated at the February Council meeting to introduce future housing choices in the suburbs of City Beach, Floreat and Mt Claremont. The intent behind the amendment
was to provide for greater housing diversity in those suburbs which are dominated by single residential homes.
The residents living in these suburbs objected to the proposal due to concerns over density and amenity impacts such as traffic, parking and streetscape amongst other reasons.
Whilst it was anticipated there would be a high level of community interest in this proposal, and perhaps a high level of opposition, it was not anticipated how vigorous the opposition would be and the extent to which a campaign was mounted to stop the amendment proceeding. As a result this activity dominated the Council through the rest of the financial year and continued afterwards.
The Town received a very large response to the proposal including approximately 2,500 formal submission as well as 1,950 survey responses. The Council considered the result at a Special Council meeting in July 2015 following a very comprehensive report prepared by the Town's planning team analysing the submissions. The Council decided to adopt the amendment in a modified form. The amendment was subsequently forwarded to the WA Planning Commission who will make a recommendation to the Minister for Planning to determine the outcome of the proposal. The Town is waiting on a decision from the government on this matter.
Other ActivitiesNot withstanding these two major issues the Town has made significant progress on its major projects as follows:
• City Beach surf club building and hospitality development ($18m - under construction)
• Bold Park Aquatic Centre redevelopment ($12.25m - under construction)
• Wembley Golf Course Hospitality Development ($10M - under construction)
• Wembley Golf Course miniature golf and playground ($2.5M - detailed design)
• Wembley Sports Park Pavilion ($3.5m - out to tender)
• Nursery site land development - Parkside Walk, Jolimont (Outline development approved for up to 350 dwellings by the WA Planning Commission)
JASONBUCKLEY
Chief Executive Officer’s Report
11Chief Executive Officer’s Report
• Area G land development - St John's Wood, Mt Claremont (subdivision approved for 49 lots)
• Perry Lakes Stadium Redevelopment, Floreat (three large apartment sites with up to 292 dwellings to be transferred by the State Government to the Town to sell valued at $27m excluding GST; the Town to receive a balance payment of $23m in 2016/17 from the State Government to make up the total of $50m owed to the Town as required by the Perry Lakes Redevelopment Act 2005).
The Town also completed a major upgrade to the Perry Lakes skate park and is planning a further stage subject to funding.
We have again been successful with our waste management efforts under the Maximum Recovery program with 46% of kerbside waste diverted from landfill. Waste in the recycling bin accounted for 29% and the green bin 17%. Of the waste sent to Mindarie Regional Council a proportion of all members waste is processed and composted that increases the Town's diversion efforts.
Despite the substantial activity surrounding local government reform, Amendment 31 and major projects the Town has continued to deliver outstanding services to the community. Details of our achievements through the year are outlined in this report and demonstrates the Town’s ethos of ‘getting things done’ in accordance with the Community Strategic Plan.
FinancesThe Town is performing strongly from an operating perspective and with the materialisation of wealth assets, in the short to medium term, the Town will be in an excellent financial position in the future. The below charts demonstrate the financial trend from a macro perspective. It is noted that the Town currently has over $300m in net assets and this will increase soon as the proceeds from major land developments are received over the next few years.
ClosingThe last year has been a very unsettling year and I would like to thank the staff for their positive and enthusiastic approach to the challenges that we have endured over the last 12 months. I also express my appreciation for their continued commitment and focus in delivering services to the community. I wish to thank the elected members in providing direction and their guidance and support of the administration in achieving the council's objectives.
Jason Buckley
Chief Executive Officer
Revenue Expenses
2009/10$M
2010/11$M
2011/12$M
2012/13$M
2013/14$M
2014/15$M
Profit/Loss
Revenue $29.9 $33.6 $35.9 $37.2 $39.9 $41.8
Expenses -$32.0 -$33.6 -$35.2 -$37.2 -$39.4 -$41.1
Operating Result -$2.1 $0.0 $0.7 $0.0 $0.5 $0.7
Capital Grants & Contributions $0.4 $1.3 $7.0 $11.2 $2.3 $3.4
Asset Disposals & Adjustments $9.5 -$0.4 $1.0 $8.4 $18.0 $8.0
Revaluation of Assets $71.0 $22.7
Net Result $7.8 $0.9 $8.7 $19.6 $91.8 $34.8
Balance Sheet
Assets $171.1 $174.2 $182.1 $203.0 $294.9 $330.3
Liabilities -$19.2 -$21.4 -$20.6 -$21.9 -$22.0 -$22.6
Net Assets $151.9 $152.8 $161.5 $181.1 $272.9 $307.7
% Increase 5.4% 0.6% 5.7% 12.1% 50.7% 12.8%
$ M
illio
ns
2013/2014 2014/2015 2012/20132011/20122010/20112009/2010
$45
$40
$35
$30
$25
$20
12 Town of Cambridge Annual Report 2014-15
The Projects Directorate was established to provide the Town with capability to efficiently and effectively plan and deliver strategic initiatives beyond the Town’s day to day operational programs.
Wembley Sports ParkIn March 2015, the new State Netball Centre was officially opened by the Premier of Western Australia. This largely completed works envisaged in the Master Plan for Wembley Sports Park, adopted by Council in June 2011. Netball season 2015 saw all of the new roads, car parks and access points in operation, and despite a higher level of netball activity, traffic and pedestrian flow was substantially improved over that of recent years.
The Town is about to embark on the next phase of works at Wembley Sports Park, being the development of Wembley Sports Park Pavilion which will become the home of the Wembley Athletic Club. Construction should commence later in calendar year 2015 and take about a year to complete. Once complete, this new pavilion will be able to host game day facilities for baseball, cricket and football as well as provide an all year venue for the Wembley Athletic Club. The anticipated cost of this project is $3.5m.
Surf Club Building and Commercial Development at City BeachAt the time of writing, the main construction works are nearing completion which will allow the café, pizzeria and bar/restaurant operators to commence their fitout and begin trading in summer 2015. Similarly, the surf club building will be handed over to the surf club, for them to commence lifesaving operations this summer.
The Town will then move into the next phase of this project, addressing improved amenity for the public in other parts of the City Beach foreshore, with new paths, BBQs, picnic and shade structures, as well as car parking improvements.
It is hoped that residents will enjoy the new areas developed and make good use of the facilities on offer.
Wembley Golf Course Hospitality ProjectThe much anticipated construction of the new hospitality facilities at Wembley Golf Course has commenced. The Town will develop a new bistro/bar area, function rooms, kiosk, change rooms and toilet facilities, as well as improved car parking and landscaping, within a $10m development. These new facilities will progressively come on line from late 2015 through to mid-2016.
Works are also underway to develop new short game practice facilities, a miniature golf course and children’s playground on the northern side of the main buildings which will also be complete by mid-2016.
BRETTJACKSON
Projects
13Projects
Bold Park Aquatic CentreConstruction is nearing completion of the new Aquatic centre. Plans are well underway to re-open this facility to the public before summer 2015 providing the community with:
• 10 lane, 50 metre heated outdoor pool
• 20 metre heated learn to swim/leisure pool in a covered area sheltered from rain and wind
• Children’s play pool, also under cover
• New change rooms, including family friendly cubicles
• Kiosk for pool users and walkers through Bold Park
• Increased car parking
• Pool side BBQ and playground areas
This project represents a $12.25m investment by the Town in community facilities and has been achieved without any State funding support.
14 Town of Cambridge Annual Report 2014-15
Former Nursery Site, JolimontAn outline development plan for the subdivision of this site into a residential development was approved by the Western Australian Planning Commission in July 2015. Landcorp, in partnership with the Town, will develop a mix of single residential and apartment sites to cater for up to 350 new residences. Subdivision plans are being finalised with a view to start construction in the latter half of 2015.
St John’s Wood, Mount ClaremontLandcorp, in partnership with the Town of Cambridge, is developing a new residential subdivision in land formerly owned by the Town and ceded to the State Government in 1995, as part of the establishment of Bold Park.
49 new lots will be created during 2015 providing a mix of 47 single residential houses and 2 grouped housing sites.
Pertinent to this development will be some rehabilitation works on an adjoining lot of land which is vested in the management of the Botanic Gardens and Parks Authority.
Subdivision approval was granted by the Western Australian Planning Commission in May 2015.
15Projects I Corporate and Strategic
JASONLYON
Corporateand Strategic
Corporately, our focus for the year revolved around managing the change associated with local government reform. Business improvement initiatives were placed on hold whilst the organisation undertook a process of due diligence, systems analysis and service delivery reviews. Following the State Government's decision to abandon the reform process, our efforts towards the latter half of the year shifted to a new planning phase for Cambridge, in light of greater certainty for the future.
The directorate continues to support the Town's three major construction projects. This is an exciting time for the organisation given the magnitude of the projects, and the significance of the project deliverables, from both a community and from a commercial perspective. Worth over $61 million, these projects have required all aspects of corporate services to increase its service support, from tender and contract management to commercial negotiations, business case development and financial control.
The Town was able to negotiate and finalise a number of property related transactions and remains an active partner in three land subdivisions. Sales at Ocean Mia were completed, and three freehold lots in City Beach were sold to fund the Bold Park Aquatic Centre upgrade. A commercial agreement for the sale of land and upgrade of The Boulevard Shopping Centre in City Beach was reached after many years of negotiations. This will see a refurbished centre in 2016. Perhaps the most significant transaction is the transfer of three group dwelling sites worth $27.4 million excluding gst from the State Government as part of the settlement under the Perry Lakes Redevelopment Act. The Minister announced the transfer late in May 2015 and the Town will place the sites progressively on the market. The Town will also receive a further $22.6 million in cash to make up the $50 million owed to the Town.
The announcement on the settlement of the Perry Lakes redevelopment coincided with finalising the third iteration of the Town's Strategic Financial Plan. In June, Council decided to continue with the financial plan revision and formed a Major Projects and Underground Power advisory committee to oversee its further revision. Land sale proceeds, including Perry Lakes are set to exceed $100 million over the next ten years and careful management of the Town's wealth for the benefit of current and future generations is paramount.
FinanceThe Town commenced the year with an operating budget of $41 million and a capital program of $46 million. At year end, the operating surplus was $3.93 million and the overall surplus over budget, after allowing for works in progress was $294,000, which was transferred to the Town's Asset Management reserve.
Capital works of $26.2 million were undertaken, including $6.7 million on the Bold Park Aquatic Centre upgrade and $9.4 million on the City Beach Surf Clubrooms and Commercial project, plus ongoing renewal of the road, drainage and footpath infrastructure networks.
During the year, a number of major projects were advanced from detailed design to construction. In total, the value of these major projects is in the vicinity of $61 million. With $36.5 million spent to date, a further $28 million is earmarked over the next two years.
A number of the Major Projects are funded in part by the Endowment Lands Account, (the "ELA"). Opening with a balance of $27.5 million, a further $5.55 million was deposited from the proceeds of land sales. Funds were then transferred from the ELA for the Town's major projects and for other smaller capital projects capital projects, totalling $16.1 million. At year end, the ELA had a balance of $17 million, which is earmarked to complete the major projects currently underway.
During the year the Town revalued its infrastructure assets in accordance with new local government accounting regulations. The Town's assets are now recorded at their fair 'current day' value rather than the written down historical purchase cost.
Overall, the Town's property and infrastructure assets increased during the year by $40 million, including $24 million of infrastructure revaluations. The Town expended $26.2 million on assets and booked depreciation, write-offs and revaluation decrements of $10.2 million.
The asset revaluations also had a significant impact on the equity position of the Town, which increased from $273 million to $308 million.
16 Town of Cambridge Annual Report 2014-15
Finance Year in DetailStatement of Comprehensive IncomeThe operating result for the year shows a surplus of $709,000 against an expected budgeted operating loss (including depreciation) of $285,000. This is an overall improvement on budget of $994,000 and was primarily driven by Commonwealth Financial Assistance grants and local roads grants totalling $500,000 were received in advance for the 2015/2016 financial year and higher than expected interest earnings of $240,000, with more funds available for investment due to slower major project cash outflows.
The net result after allowing for interest charges, capital funding and profits from asset sales was $12.1 million against budget of $12.3 million.
Profit of $6.3 million on asset sales was realised from resulted from the sale of the last remaining multi-residential lot within the Ocean Mia land development for $3.5 million, and the sale of a lot in Keaney Place, City Beach for $1 million. A further $2.8 million in sales proceeds were also generated from the Catalina residential estate land sales at Tamala Park. The Town wrote off assets to the value of $1 million included the building demolition of the Wembley Athletic Club pavilion and Wembley Golf Course tavern, which are being replaced.
Funding was received from capital grants and contributions totalling $3.4 million for the major projects with a further $0.5 million due.
17Corporate and Strategic
Financial PositionThe Town’s Statement of Financial Position shows net assets of $308 million at year end, compared to $273 million for the previous year. The increase of $35 million is a result of an increment of $22.7 million to the asset revaluation surplus, an increase in accumulated surplus of $21 million and a decrease in cash reserves of $8.9 million applied to the Town's major projects.
A review of the Town’s property, plant and equipment and infrastructure movements for the year indicate that apart from a $24 million infrastructure asset revaluation, some $26.2 million in asset additions were booked, including $9.4 million for the City Beach Surf Clubrooms and Commercial Development and $6.7 million for the Bold Park Aquatic Centre Redevelopment project. Other additions included $3.4 million of road and traffic improvements. The asset economic life graph indicates that the Town’s net assets are approximately 35% through their useful life, with 65% remaining. This is within the acceptable performance standards for asset management set by the Department of Local Government.
The Town’s overall equity or net worth increased by $35 million for the year. The total equity as at 30 June 2015 is $308 million and includes $22.8 million in cash reserves and the Endowment Lands Account. The majority of these funds are set aside for major projects and asset renewal capital programmes. An increase in the revaluation surplus of $24 million has been booked this year to reflect the increase in the Town’s infrastructure assets to fair value.
1996
/199
7
1997
/199
8
1998
/199
9
1999
/200
0
2000
/200
1
2001
/200
2
2002
/200
3
2003
/200
4
2004
/200
5
2005
/200
6
2006
/200
7
2007
/200
8
2008
/200
9
2009
/201
0
2010
/201
1
2011
/201
2
2012
/201
3
2013
/201
4
2014
/201
5
350
300
250
200
150
100
50
0
Changes in Net Assets
$ M
illio
ns
1996
/199
7
1997
/199
8
1998
/199
9
1999
/200
0
2000
/200
1
2001
/200
2
2002
/200
3
2003
/200
4
2004
/200
5
2005
/200
6
2006
/200
7
2007
/200
8
2008
/200
9
2009
/201
0
2010
/201
1
2011
/201
2
2012
/201
3
2013
/201
4
2014
/201
5
Net Non-Current AssetsNet Current Assets (Working Capital)
320
300
280
260
240
220
200
180
160
140
120
100
80
Changes in Equity
$ M
illio
ns
Accumulated SurplusReserves
1996
/199
7
1997
/199
8
1998
/199
9
1999
/200
0
2000
/200
1
2001
/200
2
2002
/200
3
2003
/200
4
2004
/200
5
2005
/200
6
2006
/200
7
2007
/200
8
2008
/200
9
2009
/201
0
2010
/201
1
2011
/201
2
2012
/201
3
2013
/201
4
2014
/201
5
Buildings Office Furniture & Equipment External Plant & Equipment Infrastructure
Trend of Asset Economic Life
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
% o
f Life
Exp
ires
18 Town of Cambridge Annual Report 2014-15
Information Technology & Business SystemsThe Information Technology and Business Systems team continues to provide guidance and support to users of the Town’s hardware, software and communications technical infrastructure via its Help Desk.
Key improvements to the technical environment during 2014/2015 included an upgrade to the network capacity at the Town including the public Wi-Fi environment at the Administration Centre, Library and Boulevard Centre. A new replacement phone system was installed at the Administration Centre to provide greater flexibility in managing calls from customers.
High level business processes were documented and reviewed as a precursor for efficiency improvements linked to upgrades and enhancements in the core business systems supporting customer interactions.
Customer Services The Town’s Customer Service team is committed to providing our community quality personal service and delivery excellence at all times.
A diverse range of service, information and application requests via phone, mail, email, website and in person are processed from our Customers at the Bold Park Drive Administration Centre, The Boulevard Centre and Wembley Community Centre.
Ongoing refinement and business initiatives continue to enhance our service delivery options including improvements in the Towns website and upgraded phone system.
Corporate CommunicationsDuring 2014/2015 Corporate Communications, via a variety of channels, kept the Cambridge community informed about the many projects and activities happening across the Town.
The main platform used to share information continued to be the full page advertorial, Cambridge News, published fortnightly in the local Cambridge Post newspaper. Including ‘special editions’ there were 29 Cambridge News bulletins published in 2014/2015.
To coincide with the published edition, an email distribution of Cambridge News was sent to 1,615 subscribers. Over the period the number of subscribers increased by 47% to 1,615, up from 1,100 the previous year.
Project specific eNewsletters have also been created and used throughout the year to keep subscribers informed about the City Beach Development, Bold Park Aquatic Redevelopment and performances at The Quarry Amphitheatre.
In 2014/2015 Twitter was used almost daily to relay current news. The Town tweeted information such as upcoming events, employment opportunities, major project updates and council meeting dates. The Town’s Twitter following grew steadily over the reporting period. The number following at the end of June 2015 was 1,297. This was a jump of 382 followers from the previous 12 month reporting period.
19Corporate and Strategic
The Town’s website (www.cambridge.wa.gov.au) continued to play an important role in providing accurate and up-to-date information to the Cambridge community on the Town’s many services.
The website was constantly reviewed and updated to ensure the content was accurate and current.
A new feature of the website this year was the introduction of webcams at our major project sites (City Beach Development, Bold Park Aquatic and Wembley Golf Course Hospitality Precinct), allowing viewers to watch the developments live.
Human ResourcesHuman Resources are responsible for the development and support of the human resources function within the Town, which includes providing advice and assistance relating to the management of employee relations, recruitment, induction, organisational and professional development, salary and wages, workforce planning, collective bargaining negotiations, occupational health and safety, staff welfare, performance management, organisation development, safety, wellness, employee motivation, and training.
The Town’s Human Resources policies and practices are continually reviewed and updated to reflect changes in industrial agreements, Council policies, award requirements and entitlements are facilitated and implemented in a timely and professional manner with a continuous understanding of relevant industrial relations practices.
As at 30 June 2015 the Town employed 197 of full-time equivelant staff, comprised of 64 permanent part-time employees. The Town retained the minimum workers compensation insurance contribution of 1.6%, based on a strong health and safety culture.
GovernanceCouncil meeting attendance
Council Meetings attended July 14 to June 15 Apologies Leave of absence
Mayor S Withers 11
Deputy Mayor Cr A Langer 10 1
Cr R Bradley 11
Cr S Grinceri 10 1
Cr T King 11
Cr C MacRae 10 1
Cr C Walker 11
Cr L Carr 11
Cr P O'Connor JP 11
Decisions of Council
2009/2010 2010/2011 2012/2013 2013/2014 2014/2015
Items considered 364 359 379 382 392
Average meeting duration 80 minutes 91 minutes 124 minutes 138 minutes 129 Minutes
Welcoming new citizensFour public citizenship ceremonies for Town of Cambridge residents were held in 2014/2015 in July and October 2014, on Australia Day 2015 and in April 2015. A total of 183 applicants received citizenships during the reporting period.
Date Number of conferees
July 2014 50
October 2014 41
26 January 2015 47
April 2015 45
20 Town of Cambridge Annual Report 2014-15
FESTIVALS AND MAJOR EVENTSDuring 2014/2015, the Town provided a variety of community events and festivals to enable the local Cambridge community to come together to celebrate and enjoy family activities and entertainment.
Part funded by Lotterywest, the ‘Cambridge Celebration Summer of Fun’ events program consisted of the following eight community events from December 2014 to April 2015:
• Christmas at Lake Monger,
• Australia Day Celebrations at Perry Lakes Reserve,
• Music in the Park at Floreat Beach Foreshore and Rutter Park, Wembley,
• Sand Sculpture competition at City Beach,
• Cambridge Street Festival,
• Exposure Youth Festival at Perry Lakes, and
• ANZAC Day Ceremony and Centenary Celebrations.
The Town’s inaugural “Cambridge Street Festival” was held in March 2015 and was hailed a great success with approximately 10,000 people attending. The first event of its kind to be held in the Town saw Cambridge Street between Jersey and Simper streets transformed into a dynamic community space. Activities included live entertainment, pop up market stalls, amusement rides, children’s entertainment, circus performers and plenty of community group participation. The event is now set to be included on the Town’s annual events calendar.
Other major events throughout the year included:
• Rose Pruning Demonstration (July 2014);
• City to Surf Fun Run (August 2014);
• Volunteers Function (October 2014);
• Local Primary Schools Education Week Debate (November 2014);
• Organ Donors Donate Life Ceremony (March 2015);
• Sids ‘n’ Kids Sunshine Beach Event (March 2015); and
• Velofest International Cycling Event (March 2015).
Community Development
FINANCIAL ASSISTANCEThrough its Community Grants program the Town provided a total of $33,647 in the form of grants and donations to local community organisations, service groups, schools and sporting clubs.
The Community Organsiations Grants program provided a total of $11,683 to local community clubs and groups to purchase new equipment. These included:
• $1,100 to Cambridge Croquet Club for new playing equipment;
• $1,100 to City Beach Tee Ball Club for new playing equipment;
• $1,100 to City Beach Tennis Club for new security equipment;
• $1,100 to Subiaco Floreat Cricket Club for new playing equipment;
• $1,100 to Wembley Districts Junior Cricket Club for new playing equipment;
• $958 to West Coast Junior Cricket Club for new playing equipment;
• $1,100 to West Coast Amateur Football Club for new playing equipment;
• $1,100 to West Coast Sporting Association for new sports injury equipment;
• $1,100 to Eileen Honner Playgroup Inc for new operational equipment;
• $1,100 to Floreat Toy Library for new operational equipment; and
• $825 to Wembley Playgroup Inc for new operational equipment.
CAMROBBINS
21Community Development
The Community Events Grant program funded three local community organisations to assist in running events open to residents of the Town totalling $3,000. These included:
• The Schichi Go San Festival at the Japanese School in City Beach,
• The Kite Festival at City Beach Ovals; and
• The Nanson Street Christmas Party and Carol’s in Wembley.
A further $5,858 was approved for programs and initiatives at schools either located within the Town or servicing children who live in the Town. These included:
• $858 to Floreat Park Primary School for their ‘Hub’ project; and
• $5,000 towards chaplaincy programs at Churchlands Senior High School, Shenton College, Floreat Parl Primary School and West Leederville Primary School.
The ‘Financial Assistance for Individual Achievement’ program contributed a total of $12,400 to local individuals who were selected to represent the state or nation for excellence in sport, leisure, cultural or educational activities. These funds are provided to offset travel expenses.
The Town also funded $706 under the ‘Donations to Interclub Competitions’ funding program, which assists with the purchase of trophies and catering. These included:
• Reabold Tennis Club - Junior Hardcourt Championship - $506
• Cambridge Bowling and Recreation Club - Ladies Gala Day - $200
ART AND CULTUREArt and cultural activities funded during the year included:
• $2,000 granted to Wembley Theatre Company for their annual pantomime at the Wembley Community Centre;
• A Local Primary Schools Art Exhibition. The wining art acquisition piece entitled “Bruno the Panda” was entered by Oliver Brown from Year 4 at City Beach Primary School; AND
• The Town continued its public display of artwork by various local artists at the Town’s Boulevard Centre. Each artist had two months to display their artwork for public viewing and/or purchase.
SPORT AND RECREATIONFacilities Assistance Grants
The Town’s ‘Community Organisations Facilities Assistance’ program assists with the provision or replacement of sporting and community facilities within the Town. In 2014/2015 this program provided $49,000 to the West Coast Sporting Association to help fund the replacement of flood lights to City Beach Oval, and Reabold Tennis Club was provided with $4,500 to assist in funding the replacement of shade sails. These projects were funded in conjunction with the Department of Sport and Recreation’s Community Sporting and Recreation Facilities Fund (CSRFF).
KidSport
In 2014/2015, the Town partnered with the Department of Sport and Recreation (DSR) to implement and promote the KidSport program. The state government through DSR provided funds to the Town to enable Cambridge children affected by financial hardship to participate in club sport. A total of 55 eligible children aged 5–18 years received KidSport vouchers to offset club membership fees.
Of these young people, 30% identified with having a disability and 11% came from a culturally and linguistically diverse (CALD) background. The Town actively supports participation in junior sport and recreation and the KidSport program ensures all children within the Town can be involved.
Club Development
2014/2015 marked the commencement of the Town’s Club Development program. The Town has partnered with the Department of Sport and Recreation to provide Club Development services to local sport and recreation clubs.
In this first year the program focused on assisting clubs to be sustainable and supporting them to deliver opportunities for physical activity. Clubs were offered opportunities to attend training workshops, and were provided information and advice about sport and recreation trends, club governance and funding opportunities.
VOLUNTEER RECOGNITIONThe Town hosted its annual volunteers function in September 2014 to recognise and give thanks to volunteers in Cambridge for their dedication and commitment. As in previous years, this year’s function, at The Boulevard Centre, included a full sit down breakfast and a number of formal presentations which profiled the work of some of our most outstanding local volunteers.
Mrs Barbara Minchin was awarded Club Volunteer of the Year for her selfless service as a leader of youth and as District Leader and mentor to many girl guides. Mrs Minchin has served as a leader to young people for the last 50 years, and in particular, to the Girl Guides groups of Wembley and Floreat.
Mr Ivo Davies was awarded the Community Volunteer of the Year for his willingness to undertake any task and his tireless commitment to Cambridge Coastcare. Mr Davies has been on the Committee of Cambridge Coastcare since it was formed in 1998 and has been president for six of those years. He has undertaken major activities within the Town that have enhanced the natural biodiversity, community and landscape values of the Town’s coastal ecosystems.
22 Town of Cambridge Annual Report 2014-15
DISABILITY SERVICESThe Town of Cambridge aims to improve accessibility and inclusiveness for people with disabilities and their carers and families through strategies outlined in the Disability Access and Inclusion Plan (DAIP) 2012-2015.
The Town’s DAIP is a statutory requirement of the state government under the Disability Services Act (1993, amended 2004).
Some of the initiatives undertaken in 2014/2015 were:
• Disability Access Audits of Public Facilities A disability access audit of 25 of the Town’s public buildings
was completed by O’Brien Harrop Access.
• Upgrade of the accessible toilet at the Cambridge Library The upgrade included the installation of an automatic door
to allow for easier and more dignified use by people using buggies and wheelchairs.
• ‘Have a Chat’ Program The ‘Have-a Chat’ program provides social activities and
outings for young people with a disability aged 18-25. The program was held fortnightly at the Wembley Community Centre.
• Local History Books converted to Audio Books Local history books ‘Dunny Runs’ and ‘From Limestone and
Sandhills: the history of the development of City Beach and Floreat’ have been narrated and created into audio books with the assistance of VisAbility WA. They are now available for loan at the Cambridge Library.
• The Caring in the Community Award Two local Cambridge businesses were joint winners of the
2014 ‘Caring in the Community’ award: Delish Fresh Food & Coffee House and Solstice Café were both recognised for their accessible and inclusive business practices.
• Town of Cambridge staff disability awareness training. Ben Sgherza, an independent disability consultant,
presented disability awareness training to Town of Cambridge staff in June 2015. 115 members of staff completed the training, with over 80% of participants rating the training as excellent.
COMMUNITY SAFETYIn June 2014 Council endorsed the updated Community Safety and Crime Prevention Plan 2014/2016. Six priority areas are identified as key goals in the updated plan:
GOAL 1 - Reduce Residential burglary
GOAL 2 - Decrease levels of graffiti and vandalism
GOAL 3 - Reduce antisocial behaviour
GOAL 4 - Increase education and awareness of community safety and crime prevention
GOAL 5 - Decrease levels of theft from motor vehicles
GOAL 6 - Increase road safety
Specific Community Safety Initiatives Implemented in 2014/2015
Cambridge Seniors Expo
The Town of Cambridge held its second annual Seniors Expo on Thursday, 9 October 2014 at Wembley Community Centre and in the adjoining Rutter Park. This event is designed to celebrate our seniors and grandparents with entertainment and information stalls, and a strong focus on safety for seniors. The 2014 Seniors Expo attracted over 300 people.
Neighbourhood Watch - Halloween Hotspot
In October 2014, the Town once again joined with other Western Suburb Councils to participate in the Halloween Hotspot program. Supported by Neighbourhood Watch, this initiative provided a safe and positive Halloween experience for children.
Graffiti Reporting and Recording Software
In 2015 the Town upgraded its graffiti removal management software and devices to the Panasonic tablet technology. This upgrade has made the process of recording and reporting graffiti much more efficient, enabling rapid removal of graffiti in the Town.
Free Child Restraint Fitting Service
The Town provides a free child car restraint fitting service for local residents on the first and third Tuesday of each month. This service continues to be very popular.
Other Safety Programs
• Further development of the graffiti reporting and removal program; 396 incidents of graffiti were dealt with at a cost of $58,057, an increase of 19.5% from the previous year;
• Participation in the Juvenile Graffiti Clean-up Referral program;
• Continued support for the local Safety House program at Floreat Park and Lake Monger Primary Schools;
• Ongoing funding for the Constable Care program, providing safety education within local primary schools;
• Support and promotion of Wembley Blue Light Discos for local young people;
• Continuation of Eyes on the Street program and training of new staff; and
• Continued provision of the Community Safety and Crime Prevention packs to local residents.
23Community Development
CAMBRIDGE SENIOR SERVICESCambridge Senior Services provides Home and Community Care (HACC) for eligible seniors, people with a disability and/or their carers. This is a joint initiative of the Federal and State Governments, and all services are delivered under the guidelines determined by the funding authority.
All HACC services utilise the ‘wellness approach’ to maximise independence by assisting individuals to build and maintain their skills with essential everyday activities. The program assists those with the greatest needs and enables people to stay connected to their community.
Cambridge Senior Services is located at the Wembley Community Centre. In 2014/2015, Cambridge Senior Services provided 23,307 service hours for 329 clients in the following service areas:
• Centre based day care (Day Club) and meals/refreshments;
• Domestic assistance;
• Personal care;
• Social support;
• Podiatry;
• Respite care; and
• Transport.
Each week, throughout the year, the Day Club provided a range of leisure activities including games and crafts, visiting speakers, concerts and outings. Other key events held during the year included:
• Carers evening, held on the 19 November 2014; and
• Seniors’ Christmas Community Lunch held on 4 December with 150 seniors attending.
CAMBRIDGE YOUTH SERVICESSince 2000, Cambridge Youth Service (CYS) has served the needs of young people aged 12 - 25 years who live, work, study or socialise in the Town of Cambridge. In this time it has developed a number of innovative programs that have been emulated by other services and is the only neighbourhood youth service of its kind between Fremantle and Wanneroo. CYS is regularly approached by those seeking advice on establishing and delivering benchmark community youth services. Services offered include:
• Number 86 Youth Centre, located at 86 Cambridge Street in West Leederville: Provides a place where young people can drop-in for social recreation or to access youth worker support. There has been a steady rise in attendance at the Youth Centre over the past year. In the six month period from January to June of 2015 the centre recorded 1,352 attendees, compared with 988 for the same period in 2014 (an increase of 37%).
• Professional Youth Worker Support: Qualified youth workers are available to support young people with complex needs, providing assistance with crisis management, information and referral, advocacy, psycho-social support and suicide and self-harm prevention.
• School Holiday Events and Activities: Activities and events suited to high school aged young people seeking safe, affordable things to do during school holidays. This year several new activities were introduced including sewing, creative writing and on-line publishing workshops, along with ever-popular arts and craft sessions, cooking, barista training and outings.
• In-Term Activities: Includes active or educational outings, cooking, arts and craft, music and other youth culture events such as Open Mic Nights for young musicians and performers.
• External Programs: Includes in-school presentations and activities, youth festivals and other events.
• Cambridge Youth Network: A youth-led network of young people who have a pivotal role in developing and delivering many of the activities and opportunities available at CYS. In 2014/2015 the structure of the network was redeveloped using a more open model that allows young people to fit their participation to their availability and interests. Specific initiatives in 2014/2015 included Exposure Youth Music Festival, Halloween and the Young Writers Competition.
During the 2014/2015 year, in addition to regular in-term and holiday activities, Open Mic Nights and other events, there were a number of new initiatives and special projects:
Expansion of Perry Lakes Skate Park - Stage 1 of the expansion of Perry Lakes Skate Park and Outdoor Basketball Court was completed in late June 2015. This marked the completion of 3 years of planning which involved extensive consultation, developing concept plans, securing funding, and finally constructing the new facilities. The expanded skate park provides a variety of skate elements for a range of abilities and the inclusion of an outdoor basketball court creates an exciting youth space. The total cost of Stage 1 was approximately $401,000 with grants of $230,000 from Lotterywest and $19,000 from the Department of Sport and Recreation (for the basketball court) offsetting the Town’s contribution of $152,000.
24 Town of Cambridge Annual Report 2014-15
Cambridge Street Festival - With the support of the CYN, Cambridge Youth Service hosted a buskers stage and information tent at the inaugural Cambridge Street Festival in March 2015. These initiatives attracted a lot of interest from both young people and adults alike. The presentation of alcohol awareness activities was especially well patronised.
Suicide Prevention Project - Cambridge Youth Service submitted a successful application to the Ministerial Council for Suicide Prevention and was awarded $10,000 to facilitate a series of community training workshops. These workshops will offer training to young people, youth and community leaders, and professional and semi-professional people working with youth to respond effectively to suicidal young people. Interest in the project has been high from all the target groups. The workshops will be implemented in the second half of 2015.
Leadership Training Camp - In April 2015 CYN members participated in a Leadership Training Camp at Dwellingup, with profound knock-on effects for participants. Young people and volunteers all reported that the experience had important repercussions for their personal development, understanding of others, team skills and self-confidence.
BOLD PARK AQUATIC CENTREBold Park Aquatic Centre, situated in a natural bush-land setting, caters for swimmers and families looking to enjoy a leisurely swim, undertake swimming lessons or participate in fitness training. Plans to redevelop the facilities meant that the centre was only open for 9 weeks from 1 July 2014, closing its doors on 7 September 2014.
At the end of June 2015, work on the new aquatic centre facilities was on track for the predicted October 2015 opening. During the closure period, all permanent employees at Bold Park Aquatic Centre were redeployed to other departments within the Town.
COMMUNITY FACILITIESThe Boulevard Centre
The Boulevard Centre, located below Cambridge Library in the heart of Floreat, is a multi-purpose function facility available for hire for corporate training seminars, community events, group meetings and private functions.
Through 2014-2015, business at The Boulevard Centre remained steady. User groups consisted of non-profit and Government funded agencies (54%), state and federal government departments (14%) and commercial business or private hirers (32%). The centre hosted a total of 971 events with total patronage reaching 33,925 visitors, an increase of 4% on the previous year.
Over the past 12 months the Town has invested in a number of advanced technologies within the building. These include new audio visual systems, digital signage, wireless internet services and an automatic door for the disabled amenities. These upgrades enhance the venues capabilities and services, making it competitive with similar venues and ensuring its future viability. The Town also completed the fit-out of LED lighting by replacing some 150 incandescent down lights, further reducing the centre’s carbon foot print.
The Town’s Art Development program, where local artists apply to display their works at The Boulevard Centre gallery for a period of 2 months, has been extremely popular with many artists selling works.
Wembley Community Centre
Wembley Community Centre is the home of the Town’s Senior Services Program and is heavily used by local community groups in the evenings and on weekends. The regular customer base has been consistent for many years with some hirers using the centre for more than two decades. Patronage for the past year was mainly from non-profit organisations (88%) and commercial hirers (12%), virtually the same as last year.
A number of facility upgrades were undertaken to ensure that safety and comfort remains a priority at the centre. This included new LED car park lights and re-paving areas of the car park to remove uneven surfaces and trip hazards.
Leederville Town Hall
The Leederville Town Hall is one of the Town’s oldest venues and continues to be well used by a variety of hirers. This year being the 100th Anniversary of the Gallipoli landing the Town partnered with the RSL to conduct a week long exhibition of local and military artefacts and memorabilia. The exhibition was officially opened by Mayor Withers at the conclusion of the Anzac Day memorial service and featured commemorative banners of local soldiers who gave the ultimate sacrifice.
Although there were no major building works carried out at the Leederville Town Hall in 2014/2015, the Town did complete a substantial termite treatment and upgraded the building security.
25Community Development
The Quarry Amphitheatre
Owned and managed by the Town of Cambridge, the Quarry Amphitheatre is regarded as one of Perth’s premier outdoor venues. Following the replacement of the stage in 2013, the upgrading of mains power infrastructure and the installation of new theatre lighting was completed in September 2014. These upgrades have significantly enhanced the venues production capability.
The 2014-2015 performance season was very successful, with the venue accommodating 71 concert events and 10 private weddings. This represents an increase in total bookings of 10.5% from the previous performance season. Production highlights included the West Australian Ballet Perth International Arts Festival performance, The Eurogliders, the WA Youth Jazz Orchestra, Matt Gresham and The Seals.
Cambridge Library
2014/2015 was a year of consolidation and expansion of programs for the Cambridge Library. An integral part of providing access to resources is creating inviting spaces for patrons, through promoting children’s literacy, lifelong learning, access to library resources and creative expression; presenting an inclusive environment and spaces that meet the needs of our patrons; and developing a responsive culture of service within our library. By focusing on these areas, we will ensure that the library continues to thrive and remains an important and relevant community facility.
Service Development
As well as the traditional literary based usage of the library, a number of community driven programs facilitated by volunteers were also provided, including;
• English conversation;
• Genealogy;
• Bilingual Japanese storytime;
• Chess;
• Mahjong;
• Watercolour painting; and
• Makerspace
The continued partnerships with volunteer groups has expanded throughout the year with assistance given to low income earners, pensioners and those in need of help with their English literacy skills, Justices of the Peace, Read Write Now, Taxhelp and free hearing tests.
Digital Services
The one-on-one computer classes have continued to be very popular and were restructured so more patrons could be assisted. The new structure offers two personal IT classes with the digital services team at a cost of $10 per session. The patron is then paired with a volunteer for a further four free sessions. This has been very successful with many of the older community members who struggle with new technologies, becoming adept at using digital services.
26 Town of Cambridge Annual Report 2014-15
Early Literacy
Targeting children under the age of 12 years continues to be a major focus of the library, as emerging lifelong patrons. The benefits of early literacy development include expanded vocabulary and writing skills, social and emotional development, promoting a longer attention span, enhanced imagination and critical thinking skills. To achieve these goals the library conducts programs with over 6,000 participants. The programs consist of:
• New Mum’s talks at the Wembley Health Centre
• Baby Rhyme Time for 0-2 year olds, monthly
• Storytime for 3 - 5 year olds, twice weekly
• Better Beginnings for pre-primary children
• State and national literacy programs
• Children’s Book Week
• National Simultaneous Storytime
• School holiday programs
Library usage
2015/2016 annual statistics are outlined below:
• Library visitors 364,515 (3% increase)
• New members 2,538 (2.2%increase)
• Items loaned 310,850 (1.4% increase)
• Enquiries 39,180 (25% increase)
• Online catalogue searches 201,986 (3% increase)
• Library website visits 320,903 (2.4%increase)
WEMBLEY GOLF COURSE
During the reporting period the Swing Driving Range continued to perform well and for the first time over 10 million balls were hit for the year. This is a significant milestone for the Swing Driving Range. Rounds played remained steady at 152,000, but there was growth in retail and teaching revenue.
The Gallus Golf Mobile App continues to be a great success with 5,200 downloads. This free app is available in IOS and Android and Wembley Golf Course is the first in Perth to offer this great product.
The EZ-GO carts with GPS provide details of each golf hole and other great features that customers have found to be of great benefit. Wembley Golf Course was the first golf course in Perth to provide this service to customers.
Wembley Golf Course was the first course in Australia to offer FootGolf, and since the launch in July 2014 over 2,800 rounds have been played. Importantly, FootGolf has attracted new customers to Wembley Golf Course.
A revamped junior program was launched in January 2015 and the golf course now has over 85 juniors either participating in either the MyGolf or RGX streams.
After detailed planning and analysis the Wembley Golf Course Hospitality development was approved by Council and works commenced in June 2015. This exciting project will see a new 200 seat function room, bar and bistro, change rooms and practice facilities completed by mid 2016. Further works including an 18 hole miniature golf course, playground and changes to the Tuart Course were presented to Council in July 2015 for approval.
Environmental
Wembley Golf Course was recognised for its work in water management, with gold status in the Waterwise golf program given to the golf course in May 2013. The golf course continues to maintain their gold status, and the annual independent audit of the Environmental Management System (EMS) returned a 97% compliance rate.
The annual tree planting program continued with over 100 native trees being planted in non-play areas. In the past 13 years over 11,000 native trees have been planted.
As part of the tree management program, ongoing annual airborne multispectral imagery is used to monitor annual changes in canopy and condition of vegetation, and efficiency of treatment programs.
27Chief Executive Officer’s Report
28 Town of Cambridge Annual Report 2014-15
Development and Sustainability Services fulfils Council’s responsibilities with issues relating to planning, building, environmental health, environment, sustainability and ranger services.
STRATEGIC PLANNING AND TOWN PLANNING SCHEME REVIEW 2014/2015Throughout 2014/15, a number of major steps were taken to develop and implement strategic planning projects and Town Planning Scheme amendments in order to facilitate new development and housing options for the Town.
Streetscape PolicyIn August 2014, the Town’s revised Streetscape Policy was adopted by Council. The review of this Policy aimed to encourage more green and open streetscapes whilst preventing streets from being dominated by solid fences, hardstand or other structures. Following the introduction of a number of new streetscape requirements in late 2013, further changes to the Policy included new specifications for crossovers and driveways and reductions to primary street (front) setbacks for houses in Floreat and City Beach. The setback reductions were offered as an offset for the additional requirements for front yards to be more open and green. The revised Policy has proved effective in clarifying the Town’s objectives and requirements for development in setback areas.
Housing Options and Scheme Amendment 31In recent years the Town has undertaken a Housing Options Study to identify a range of different housing options to provide for changing demographics and housing choice, which could fit within existing suburban streetscapes and maintain the existing character of the Town’s suburbs. The Town received a Commendation for the Housing Options Study at the 2014 Planning Institute of Australia State Awards for Planning Excellence for this work.
Scheme Amendment 31 was then prepared to implement a number of housing typologies in City Beach, Mt Claremont and Floreat including grouped dwellings on corner lots, manor houses (small apartments which are designed to look like a single house) and Cambridge Street Apartments. To ensure the Town retained a high level of control over the design of the new housing options, a new approach of introducing Additional Uses with specific, non-discretionary development requirements under the Town Planning Scheme, as opposed to blanket coding changes, was taken.
Following public advertising from March to May 2015, 2500 submissions were received and a number of concerns were raised with the proposals. Subsequently, modifications have been recommended and the Scheme Amendment is due to be considered at a special meeting of Council on 1 July 2015.
Centre PlansThe Town, in conjunction with planning and urban design consultants RPS Group, held workshops with community members and stakeholders in July and August 2014 to give direction to the preparation of centre plans for Wembley Town Centre and Floreat (Forum) District Centre. All workshops were very productive and well attended. Twelve scenarios for each centre were developed with the participants. A draft Centre Plan for the Wembley Town Centre was adopted by Council and advertised over March and April 2015.
Key elements of the plan included residential identification of two landmark development sites as well as focusing higher density development along Salvado Road. It is expected that the outcomes of advertising and the Centre Plan will be presented to Council for determination in coming months. The plan will set the framework for review of the Wembley Precinct Policy and the Town Planning Scheme. A decision is yet to be made to determine how planning should progress for the Floreat (Forum) District Centre, given there was limited support at the Floreat workshop for further development intensification of this location.
Development and Sustainability
IANBIGNELL
29Development and Sustainability
Old Nursery Site (Parkside Walk)A number of significant milestones were reached in the planning for development of the Former Nursery Site on Salvado Road, Jolimont which has been named “Parkside Walk” by developer Landcorp. In August 2014, Scheme Amendment 26 was gazetted which zoned the site Residential with a Special Control Area.
An Outline Development Plan was subsequently prepared and advertised in November and endorsed by Council in December 2014. It is expected that a decision on the Outline Development Plan and subdivision plan will be made by the Western Australian Planning Commission early in the next financial year. Design guidelines are currently being prepared by Landcorp and CODA, with input from the Town, and are expected to be publicly advertised in coming months with development commencing in the following year.
West Leederville Precinct PolicyIn recent times the Town has received a number of major development applications for mixed use and multiple dwelling proposals in the West Leederville Activity Centre. While the changes to the West Leederville Precinct Policy, made following the completion the Centre Plan, have been generally effective in delivering active streetscapes and new dwellings, issues have emerged relating to the interface of buildings adjoining existing lower density residential areas.
In response, a new ‘Residential Interface Node’ was introduced into the West Leederville Precinct Policy in February 2015 to provide a greater level of control over development where buildings in the West Leederville Activity Centre abut lower density residential areas.
Scheme Amendments In addition to the above mentioned Scheme Amendments, a number of other Scheme Amendments were either advertised or gazetted as follows:-
• Scheme Amendment 28 was gazetted in May 2015 which included an Additional Use for a local café for No. 58 St Leonard’s Avenue, West Leederville (Piccolo’s Café).
• Scheme Amendment 29 was approved by Council in April 2015 to introduce an Additional Use for Consulting Rooms (Group) at No. 210 Cambridge Street, Wembley. The Scheme Amendment is now awaiting final determination by the WAPC and Minister for Planning.
• Scheme Amendment 30 was initiated by Council in February 2015 to introduce an Additional Use for Hospital - Special Purposes at No.61-69 Cambridge Street, West Leederville (Abbotsford Private Hospital) and subsequently advertised in May and June. It is expected that the Scheme Amendment will be presented to Council in July 2015 for final approval.
Statutory PlanningDevelopment Approvals
All development applications are assessed under the provisions of Town Planning Scheme No. 1 and associated policies. During the year, 580 development applications worth an estimated $310 million were received for residential, mixed use, commercial and Development Assessment Panel applications. The following table provides an analysis of more complex applications received by the Town this financial year including grouped residential dwellings, medical, commercial and Development Assessment Panel developments.
No. of Applications
Description EstimatedDevelopmentCost
11 DAP applications $166,384,000
13 storey apartment block
$2,400,000
119 x two storey grouped dwellings
$4,800,000
1 4 storey medical centre $7,000,000
16 storey mixed use (commercial/residential)
$6,999,000
1Additions and alterations to commercial centre
$2,135,000
The Town also processed nine Fast Track planning applications which require approval within five business days (i.e. from the date of receipt of the application until the date of approval).
Cambridge received 26 subdivision referrals from the Western Australian Planning Commission for both green title and strata subdivisions.
30 Town of Cambridge Annual Report 2014-15
Building ServicesThe Town is responsible for ensuring that residents who apply to build new premises or make additions or alterations to premises, comply with all relevant codes, regulations and standards. The purpose of a building approval is to ensure that structures meet National Construction Code structural and safety standards and ensure that the interests of both neighbours and the community are considered in this process.
The Building Act 2011 requires segregation of applications into seven sub-categories. The Town received 390 Certified Permits, 243 Uncertified Permits, 74 Demolition Permits, 13 Building Approval Certificates, 2 Building Approval Certificates (Strata) and 25 Occupancy Permits and 8 Occupancy Permit (Strata) applications during the financial year. Certified and Uncertified building permit applications received during the year were assessed for Town Planning Scheme compliance.
Compliance ServicesA total of 1668 compliance related matters inclusive of inspections and complaints were followed up and investigated by Compliance Officers during the financial year of 2014-2015. Those matters related to a wide range of planning, building, construction and local law compliance matters. A breakdown of the unit’s activities is listed below.
Planning - Front Fences
14 Front fence compliance issues were investigated and 3 notices issued.
Planning - Other
A total of 148 other planning matters were investigated (ie. No development approval, non-compliance with development approval, home occupations, signs). 34 requests to comply, inclusive of notices, were issued during 2014/2015. Three planning infringements were issued.
Building
Eighty building related matters (unauthorised work, other land adversely affected, damage by builders, dangerous walls) were investigated; 19 Building Orders were issued along with 48 requests to comply.
Verges
A total of 24 verge investigations (unsafe verge, non-compliance with policy) were completed and one Local Government Act notice was issued.
Infrastructure (verge development, crossover)
There were 30 infrastructure issues raised and two notices issued. 64 verge storage permits were issued during this period.
31Development and Sustainability
Construction Sites
A total of 225 construction sites where investigated for a range of issues (unauthorised use, storage of materials/bins on verge, dust and noise). Six notices were issued.
Private property
There were 236 other investigations relating to private property (stormwater or pool water discharge, sand drift, disused materials, unsightly land). Ten notices were issued.
Private Swimming Pools and Verge Applications
The Compliance unit also undertook follow up inspections of 869 private swimming pools for compliance with pool fencing standards, during the year 2014/2015. A total of 11 infringements were issued for non-compliant swimming pool enclosures.
Environmental Health Services
The role of Environmental Health Services is to promote the health, comfort, safety and amenity of the community by providing for the physical, mental and social well-being of the Town’s residents and visitors. The Town’s Environmental Health Officers (EHO’s) undertake routine and proactive initiatives to ensure that the community and the environment are protected from unnecessary hazards.
Public health is often taken for granted however it is only through ongoing programs such as food premises inspections, food hygiene education, routine and complaint based food sampling, vermin control and customer request health investigations that we experience a high standard of public health.
In accordance with the Town’s Service Delivery Plan, Environmental Health Services have continued to monitor their effectiveness in their key activities (KEI’s) against agreed objectives. The Effectiveness Indicator parameters are based on Department of Health standards, or agreed response times based on the Town’s Customer Service Charter.
Results for 2014/2015 indicate that most of the KEI targets were achieved and demonstrates the commitment of the Town’s Environmental Health Officers.
The following tabulates those results:
Key Effectiveness Indicator(per quarter)
KEI Target Actual Q1 Actual Q2 Actual Q3 Actual Q4
111 food premises inspections
100% inspections conducted to required.
117% Performed 130 food premises inspections
42% 73% 78%
Public pool samples - varies each month due to winter closures
100% pools sampled to required
100% 100% 100% 100%
As shown above the shortfalls in targets relate to the inspection of food premises, which is attributed to staff changes.
Infectious Diseases
The Town’s Environmental Health Officers are no longer required to investigate Infectious Diseases notifications due to sophisticated clinical analysis techniques used by the Department of Health. However, EHOs may investigate cases on behalf of the Department, but none were received this financial year.
Food Complaints and Food Sampling
Environmental Health Officers dealt with 32 complaints alleging substandard food which required investigation with the vendors and manufacturers. The Town continued to participate in the WA Food Monitoring Program in conjunction with the Department of Health. Chemical analysis is undertaken to monitor compliance with the Food Standards Code, and microbiological analysis to examine standards of food production hygiene.
The following tabulates food samples taken during the year by Environmental Health Officers:
Analysis No. Sampled Substandard
Chemical 9 0
Microbiological 21 0
The Town is a member of the Food Monitoring Group (FMG), which consists of representatives from the Department of Health, the Local Health Authorities Analytical Committee and various local government authorities. The aims of the FMG are to:
• promote a high level of co-operation between the member Councils;
• ensure food standards are being maintained by undertaking regular co-ordinated sampling surveys; and
• undertake a uniform and consistent approach to enforcement of relevant legislation.
32 Town of Cambridge Annual Report 2014-15
Food Premises and Stall Holder’s Permits
338 routine inspections of food premises in the Town were undertaken in the year to ensure compliance with general hygiene and food handling practices.
EHOs continued to liaise with the promoters of sporting and other large community events to maintain acceptable standards for food safety and hygiene. A total of 134 stall holder permits were issued during the period. Inspections of food stalls and food vans were undertaken to ensure compliance with the relevant legislation at the following events:
Event Name Month / Year No of food stall permits issued
City to Surf August 2014 12 permits
Al's Poker Run January 2015 9 permits
Cambridge Street Festival
March 2015 7 permits
General complaints
96 general health or environmental complaints were received and investigated by Environmental Health Officers.
Noise Control and Environmental Protection
A total of 85 environmental or domestic noise related complaints were received during the year. The major sources of complaints were:
• construction site noise: 18
• radio noise from construction sites: 3
• radios, stereos/household parties: 2
• domestic air conditioning systems: 3
• swimming pool pumps: 2
• musical instruments/band: 3
• shops and commercial activities: 7
• bird noise: 2
• alarms: 3
• specified equipment: 2
• misc: 1
• source not recorded: 39
Environmental Health Officers conducted investigations of the above complaints, which included measuring sound levels of equipment in the cases of air conditioning units. Written and verbal instructions were issued to resolve noise complaints.
Effluent Disposal Systems
Seven applications for new septic tank effluent disposal systems, one application for a grey water system and one application for an Aerobic Treatment Unit were approved in the year.
Health Promotion, FoodSafe ® and I’M Alert Food Safety Training Program
Health promotion activities continued individually with residents, such as the investigation of rodent complaints, and with food businesses, such as the promotion of FoodSafe ® and “I’m Alert” on-line training program. The Food Act
requires that food businesses serving food to vulnerable persons to have an approved Food Safety Plan in place. The definition of ‘vulnerable persons’ is defined in the Food Act 2008, but predominately encompasses businesses serving food to residents at hospitals, aged care facilities and child care centres. EHOs have worked closely with the following businesses, which have all now passed the Town’s verification requirements for their Food Safety Plans.
Villa Pellettier (Southern Cross)
Abbotsford Hospital
Kimberley Nursing Home
Mulberry Child Care Centre
Great Beginnings Childcare
Koh – I – Noor Nursing Home
West Leederville School of Early Learning
St John of God Hospital Kitchen
The Marian Centre
Catherine McAulay Child Care
Catherine McAulay Aged Care
Mercy Community Services
Davis House Respite Centre
Jelly Beans Child Care Centre
Immunisation
Influenza vaccinations for Town of Cambridge employees were conducted through the new LGIS Health and Wellbeing program and provided by Spot screen. This year, 73 Council employees were immunised through the staff influenza vaccination program.
Rodent Control
285 packets of free rodent bait were issued to residents by Customer Service Officers. EHOs continued to inspect and provide advice to the community as well as delivering baits to aged or incapacitated householders experiencing rodent problems.
Midge Control
There were nine recorded complaints regarding midge nuisance in the Lake Monger Reserve from January to March 2015.
The relatively few complaints received by the Town over the last ten years represents considerable improvement in water quality in the lake from that of the 1990’s, thus proving the success of Council’s long-term strategy for the on-going rehabilitation of Lake Monger. This strategy includes removing exotic fringing vegetation, re-planting native plants, and directing stormwater drainage through channels lined with vegetation, thus reducing the frequency of algal blooms in the lake and the size of midge emergences.
Public Swimming Pools and Ocean Water Sampling
81 samples of water from ten public and institutional swimming pools located within the Town were analysed for microbiological & chemical water quality assessment. Bold Park Aquatic Centre closed for redevelopment in September 2014 and a new swimming pool at 110 Cambridge Street was sampled for the first time in June 2015. Five pools were not sampled during winter months due to closures. When microbiological or chemical samples were found to be substandard, corrective action was undertaken immediately by the swimming pool managers, and all follow-up samples were found to comply with the required standards.
33Development and Sustainability
In addition, in partnership with the Department of Health, routine sampling of ocean water at Floreat and City beaches continued during the summer months. 36 samples were submitted for analysis by the Town, and all were found to comply with the microbiological requirements for recreational waters.
Public Building Inspections
In 2014/2015, 30 public buildings within the Town were inspected for compliance with the Health (Public Buildings) Regulations 1992. Particular attention was paid to emergency exit doors, locks and signage, emergency evacuation plans, fire prevention and control, and required documentation. Premises identified with non-compliances are subject to follow-up inspections to confirm compliance with the required regulations.
RANGER SERVICES
The Town’s Rangers continued to contribute in a positive way to the security and orderly conduct of the Town. Key activities and achievements are detailed below.
Parking
Parking control and enforcement activities continues to be the major operational activity for Ranger Services personnel. Rangers also monitor parking compliance during major events in the Town and during events at Subiaco Oval.
The following table provides statistical information about parking control activities during 2014/2015 and comparative information from the preceding period:
2011
/201
2
2012
/201
3
2013
/201
4
2014
/201
5
Parking infringements issued 9,543 9,940 7,011 8,826
Written cautions issued 1,225 1,124 1,306 922
Parking infringement appeals 1,019 1,225 839 1,111
Parking infringements withdrawn 650 734 469 623
West Leederville Parking Scheme
Parking restrictions imposed for residential streets in West Leederville and Wembley during events at Subiaco Oval have continued, and have been extended to ensure that most residents have access to kerbside parking.
Extensions to restricted parking areas appear to have been accepted and understood by the majority of residents, who are exempted from timed parking restrictions by the issue of residential and visitor parking permits.
Residential Parking Permits
Information about the Residential Parking Permit system is provided to residents in areas where new restrictions were introduced, in addition to the annual reminder to residents in areas where restrictions already exist. Ranger Services continue their important role in the implementation and control of parking restrictions and continue efforts to educate residents and other community members.
As at 30 June 2015, 1155 Residential Parking Permit applications had been processed.
Residents having functions on private property were given temporary parking permits for their visitors. In some cases where a wake or funeral service was held, parking restrictions were temporarily relaxed to cater for those wishing to pay their respects when attending the relevant residential property.
Parking Ticket Machines
Ticket machines are located in Oxford Close, Harrogate Street, Railway Parade, McCourt Street, Cambridge Street, Station Street, Railway Parade and the West Leederville Town Hall to manage timed parking and to ensure a turnover of parking spaces to meet demand.
The newly installed ticket machines in Railway Parade, Southport, Cambridge, Station, Joseph and Alexander streets have continued to operate successfully.
School Parking
Rangers continued to monitor parking at schools, with particular emphasis on child safety at drop off and pick up times. Many warnings were given to motorists for parking unlawfully around schools as Rangers attempted to educate them and encourage safe parking practices. Rangers are also working with school representatives to develop strategies which encourage approved parents and staff to assist with parking arrangements during pick up and drop off times.
Parking Agreements
The Town continued various agreements whereby Rangers enforce the Parking Local Law at private parking facilities. At present, Ranger Services undertake parking compliance inspections at 144 private car parks as a result of private parking agreements with businesses and residential owners in the Town.
Abandoned vehicles
Rangers attended to 77 reports of abandoned vehicles; of these only nine vehicles had to be towed to the Town’s impound yard and were sold after the respective owners failed to collect the vehicles within 60 days. The remainder of the vehicles were moved by their owners.
34 Town of Cambridge Annual Report 2014-15
Beach Safety
The Town’s beaches provide special focus for Ranger activity, particularly during the summer months when recreational beach use is at its highest. Surf Life Saving WA, (under contract to the Town), monitors beach safety and provides lifeguard services for beach users at both City Beach and Floreat all year round. This contract continues to work well.
During the 2014/2015 season, lifeguards and volunteer lifesavers recorded the following incidences:
Preventative actions 11,835
First aid 1,304
Rescues 63
Dog Control
Community education relating to responsible dog ownership continued; pamphlets continued to be distributed with all dog registration renewal forms to local residents within the Town. The Town maintained its association with the Shenton Park Dogs Refuge Home as the Town’s dog pound.
There are currently 2,826 dogs registered with the Town of Cambridge. The following table provides statistical information about dog control activities during 2014/2015:
Dogs impounded 70
Dogs claimed by owners 59
Dogs held for sale 7
Dog attack complaints 29
Nuisance dog complaints 68
Dog wandering reports 148
Dog infringements 54
Dog cautions 406
Cat Control
The requirements of the Cat Act came into effect on 1 November 2013. This legislation required that all cats be registered and that young cats be sterilised prior to registration. There are currently 655 cats registered with the Town of Cambridge. The following table provides statistical information about cat control activities during 2014/2015:
Cats impounded 10
Cat claimed by owners 8
Cat infringements 1
Cat cautions 7
Reptile and Wildlife Control
The Rangers were called to 27 snake sightings at properties within the Town. When caught, the snakes were moved back to their natural habitat. Swans, ducks, and turtles were also captured and returned to the closest lake after they had wandered into residential properties or onto road reserves.
Bush Fire Control
A total of 208 Bush Fires Act notices were issued to owners of residential and vacant land to clear their land of any fire hazard and flammable material. All lands assessed as being non-complaint were made compliant with the Town’s standards. Five infringements were issued and four properties were cleared by a contractor costing $2,093. The contractor costs are payable by the property owner.
Event Management
The Rangers continued to provide significant assistance to all event organisers. In particular, City to Surf 2014, Netball Country Week and Schools Country Week Athletics all had a significant contribution from the Town’s Rangers where they were involved in assisting in the planning and organisation of those events, arranging and implementing parking management and were on hand to monitor event safety and parking during the events.
Ranger Services were actively involved in a number of committees and events, including:
• Subiaco Oval Operations Committee (traffic management and parking enforcement, covering all events at Subiaco Oval);
• City to Surf committee;
• Associated Catholic Colleges (school sports);
• School Sports WA; and
• Surf Life Saving carnivals at City Beach.
Local Law Enforcement
There were 41 incidents resulting in notices issued for:
• Failure to supply name and residential address to an Authorised Officer on demand (4);
• Unauthorised entry to a fenced or closed local government property (26);
• Failure to comply with a sign erected on a beach (8);
• Behaviour which causes injury, interrupts, disturbs or interferes with enjoyment by other persons (1);
• Use or riding a surfing appliance, or operating a personal water craft or boat in a designated bathing area (1); and
• Launch personal water craft into sea other than from a boat launching ramp (1).
35Development and Sustainability
Sustainability Services
In accordance with the Town’s Strategic Community Plan, Cambridge embraces the principles of sustainability when making decisions to balance the needs of both current and future generations through environmental protection, social advancement, and economic prosperity. The Town aims to be environmentally responsible and lead by example.
Sustainability Services works closely with the community including schools, environmental groups and organisations to reach our goals of improving water and energy efficiency, reducing waste, encouraging sustainable transport and looking after our natural environment. The following initiatives support the Town’s goal of creating a community that embraces environmentally responsible practices as stated in the Strategic Community Plan 2013/2023.
Community Initiatives
The popular annual spring and autumn workshops were held at the Town of Cambridge Administration Centre with workshops presented by the teams from Beyond Garden, Birdlife WA and Great Gardens. Topics covered included waterwise gardening suited to local soils and climate and productive gardening. Birdlife WA presented workshops on local birdlife followed by field days where theory was put into practice and shared over a barbecue breakfast.
Sustainability Services participated in the Seniors Expo held at the Wembley Community Centre in October, offering senior residents information on scams and an opportunity to dispose of personal documents safely using the confidential Docu-shred bin. The Docu-shred bin is located at the Wembley Community Centre throughout the year.
As part of the National Garage Sale Trail the Town hosted a community garage sale and picnic at Lake Monger on Saturday, 25 October. Locals browsed sixty stalls plus enjoyed the range of food options, family fun and entertainment also on offer. The annual event promotes the reuse of items to reduce waste going to landfill and provides an opportunity for local community groups to fundraise.
Sustainability Services ran a recycled decorations stall at the Christmas at Lake Monger event in December. Many stopped by the stall to make an array of items and enjoy the green festive spirit.
In June 2015 the Town offered free eco-audits to Cambridge residents. With the help of an expert auditor the program assists residents to become aware of their energy and water consumption and provided excellent advice on how to reduce it. The program has been very popular with all available audits booked.
Partnerships
WESROC
The Town participates in WESROC (Western Suburbs Regional Organisation of Councils) projects and programs such as the Native Plant Subsidy Scheme, encouraging residents to convert their gardens and verges by planting local natives and increasing water efficiency. A Water Forum was hosted providing information on the state of water levels and consumption patterns are Perth and the measures that can be implemented to reduce our impact on water sources.
A Western Suburbs Bird Identification Brochure was developed in conjunction with Birdlife WA to increase awareness of local birds and how they can be attracted to local
gardens. Regional projects also track the movement of feral animals and recommend remedial actions.
WESROC is also responsible for the development and installation of a regional trail network. The Bush to Beach regional trail has been in use since 2013 and the Yange Kep Bidi (trail) is currently being installed, running from Perry Lakes to Lake Monger and connecting various wetlands.
Switch Your Thinking
The Town of Cambridge is a member of the Switch Your Thinking (Syt!) Program. The program is supported by seven other WA metropolitan local governments and helps Councils work with their communities to implement measures that save energy and water resulting in reduced operating costs and greenhouse gas emissions.
Residents and businesses are eligible for discounts on a range of products such as rainwater tanks, pool covers, insulation paint, eco products, energy and water audits and green printing. The Switch Your Thinking rebates are in addition to any state or federal government rebates that residents may be eligible for.
An additional component of the Switch Your Thinking Program is the Switched on Staff program, offered to all staff during spring. The program encourages Town of Cambridge staff to adopt sustainable workplace practices.
The Town also continued to promote the annual Young Inventor of the Year competition to community groups to raise awareness of the value of recycled materials and reducing waste going to landfill. The Cambridge Library and Sustainability Services partnered to offer children an opportunity to create their own library bag out of recycled materials and go in the draw for Syt!’s Young Re-inventor of the Year Award.
The Town sponsored the program with an annual recycled art subscription to cover the cost of materials and a facilitator. The program was offered to families over the school holidays at the library with over twenty participants submitting a photo of their entry.
36 Town of Cambridge Annual Report 2014-15
West Leederville Community Garden
The West Leederville Community Garden was established in June 2007 and is a thriving gardening hub for local residents. The organic garden provides an opportunity for residents to meet new people, grow fresh food in a pesticide and herbicide free environment and be part of an exciting community project. There are garden allotments for rent and also a communal garden space.
The Town partnered with the garden to host a Spade to Table event in October 2014. The event showcased the garden and how far it has come since its inception. There were garden tours, talks, workshops, sustainable stalls, local produce and plenty of family fun and entertainment on offer.
Lake Monger Community Garden
The newly established Lake Monger Community Garden received funding and will be established during the coming years.
Community Groups
The Town works with several community groups which help care for the natural environment. Cambridge Coastcare, Friends of Roscommon Park and Friends of Bold Park perform a vital role in improving and protecting the natural areas where they generously volunteer their time.
Cambridge Coastcare
Cambridge Coastcare has been actively rehabilitating the Cambridge dunes for more than 15 years. Together with their volunteers they have planted more than 2,500 plants this year adjacent to the new City Beach development. They have also planted more than 100,000 plants since inception.
Ivo Davies who is a long-time member of Cambridge Coastcare was selected as the Cambridge Community Volunteer for 2014.
Friends of Bold Park
The Town promotes the Bold Park guided walks through the Cambridge website and assists the group as required.
Friends of Roscommon Park
Friends of Roscommon Park were active again throughout the year, regularly weeding and collecting rubbish around the reserve. An annual planting morning held on Saturday, 6 June saw the group plant around 360 local native seedlings. The ongoing support provided by the group greatly assists in maintaining the biodiversity value of this important piece of remnant bushland.
Waste Management Initiatives
Worm farm and compost bin rebates are available to residents from March to May annually. The program aims to reduce organic waste transferred to landfill by assisting residents to utilise their household waste to generate organic material that can be used to build a healthy soil and garden. The program has been running for three years and approximately 100 residents have taken advantage of the program, receiving rebates on compost bins and worm farms.
The Town continued to sponsor the Recycling Show performed by the Wembley Theatre Company, designed to teach students about correct recycling practices. The show emphasised that waste can be a resource using clear messages combined with comedy and magicianery. Various
local Primary Schools participated in the initiative combining the performance with a waste free lunch.
Clean-up Australia Day was supported by a number of groups across the Town and the Cambridge Scouts Group continued to assist with keeping the Town clean along the coast during the year.
Sustainable School Program
This year the Town ran a Waste Warriors competition during March inviting schools to register their waste initiatives. Families were also invited to make pledges. Floreat Park Primary was selected as the winning school. They ran various projects to collect waste and ensure recycling, such as incorporating litter pickups in their mentoring program, a recycled sculpture project, composting and waste free lunches. Floreat Park Primary School won a cash prize and the winning family won an Environment House gift voucher.
Energy Efficiency
The Town’s target of improving energy efficiency at council facilities are demonstrated through various projects including the installation of a 30kW photo voltaic solar system at the administration centre, the system was installed in September 2014 and approximately 30 tonnes of carbon emissions were avoided since installation. Nearly 300 lights were replaced with LED lights in the Library and Boulevard Centre increasing the lighting energy efficiency by approximately 80%. LED lighting was installed at Lake Monger. An LED replacement project is planned for the Works Depot in 2015.
The Administration air-conditioning system was replaced, reducing electricity consumption by approximately 30%. An air-curtain was installed as part of the project and approximately 6 tonnes of carbon emissions will be avoided per year.
37Development and Sustainability
Electricity consumption and carbon emissions continue to be monitored through the WALGA Greensense Platform. Active monitoring of electricity consumption occurs through the Greensense View dashboard at the administration centre and the Cambridge Library and Boulevard Centre.
Water Efficiency and Quality Monitoring
Water efficiency and conservation has been a focus for the Town, reducing the amount of scheme water and groundwater consumed at our parks, buildings and facilities.
Water consumption at parks and facilities is actively monitored. Ecozoning and hydrozoning practices are implemented across the Town. At facilities, fittings such as timer taps and water efficient shower heads are installed, and facility users are encouraged to report water leaks and reduce the amount of water consumed. The Town received its reindorsement as a Waterwise Council; the Wembley Golf Course has been a Waterwise Golf Course, gold status, since 2014 and the Bold Park Aquatic Centre is one of the few Waterwise Aquatic Centres in the state.
Biodiversity
Biodiversity initiatives in 2014/2015 included Biodiversity Action Plan works, Arbor Day and community plantings, and the Native Plant Subsidy Scheme.
The Town adopted a Biodiversity Action Plan in February 2010. Developed with the assistance of the Perth Biodiversity Project, the plan guides the management of the Town’s natural areas over five years and aims to improve the biodiversity value of these areas. In the past year a program of weed control and revegetation has been undertaken at Roscommon Park, The Quarry Amphitheatre and Templetonia Park. A total of 2800 seedlings were planted.
Arbor Day Planting at Lake Monger Reserve
On Friday, 5 June students from six local schools gathered at Lake Monger Reserve for the Town’s annual Arbor Day event. The Town once again partnered with Cambridge Rotary and Birdlife Western Australia to provide students with a morning of planting and birdlife activities. 245 students planted 245 seedlings along the lake and learnt about local birdlife from Birdlife WA guides. This was followed by a ceremonial tree planting with Cambridge Mayor Simon Withers and a barbecue lunch generously provided by Cambridge Rotary. The participating schools were Bold Park Community School, Holy Spirit Catholic Primary School, City Beach, Lake Monger and West Leederville Primary Schools.
Community Planting at Roscommon Park
Members of the community joined Friends of Roscommon Park to plant local native seedlings at the reserve in early June. The seedlings planted will assist in revegetating the buffer of the reserve, suppressing weeds and improving its biodiversity value.
Native Plant Subsidy Scheme
Town of Cambridge residents were again invited to participate in the popular Native Plant Subsidy Scheme conducted through the Western Suburbs Region of Councils (WESROC). The annual scheme which runs during May offers local residents the opportunity to purchase up to 80 native seedlings from APACE nursery in North Fremantle for $1.50 per plant. Over 80% of seedlings were sold, slightly down from previous years where all of stock was purchased. The scheme provides an excellent opportunity for the community to incorporate local native plants into the garden, reducing water use and boosting local biodiversity.
Travel Smart
During the last twelve months the Town’s Travel Smart program has continued to encourage local schools, Cambridge staff and the community to choose sustainable transport options such as walking, cycling, public transport and carpooling.
The program has worked with schools to encourage students to walk and cycle to school - helping
to reduce traffic congestion and make schools safe, happy and active places. A number of schools received funding for walk and cycle to school event days where students enjoyed a healthy breakfast when they arrived at school. Participating schools were City Beach, Floreat, Wembley and West Leederville Primary Schools and Bold Park Community School.
Several community initiatives were implemented across the year. A women’s cycling course was held again in May 2015. The popular course aims to boost cycling confidence by improving cycling skills and knowledge. The community was also treated to a nibble and a giggle during Bike Week in March with the Wheelie Funny Bike Comedy show at City Beach. Around 90 people enjoyed the show and a sausage sizzle prepared by Cambridge Rotary.
38 Town of Cambridge Annual Report 2014-15
Infrastructure Services maintain and improve the Town’s infrastructure assets and operate a waste management collection service to meet community needs, in a financially, environmentally and socially responsible manner.
Asset Management
The Town continues to manage its large portfolio of infrastructure and assets to ensure financial sustainability and to meet community expectations, via its Asset Management program and policies. Consistent asset management practices and process were undertaken by adopting National Asset Management System (NAMS) professional practices and following a life cycle approach which included the following activities:
Asset Lifecycle Activities
During the reporting period, the Town continued to comply with the State Government’s Integrated Planning and Reporting requirements. The Town has completed the revaluation of all assets associated with its infrastructure, using fair value practices for the following asset classes:
• Roads
• Stormwater
• Kerb
• Footpaths
• Fencing
DisposalRequirements
Definition
Asset Planning
Asset Creation
Operation & Maintenance
Asset Monitoring
Renewal Sustainable Financial Management
Lowest Long Term Costs
Manage Risk Exposure An independent assessment of the infrastructure asset
revaluation has been undertaken by Griffin Valuation Advisory consultants. In their review, they found that both the Gross Current Replacement Costs and Fair Value are consistent with current market and construction rates.
During the revaluation process, condition assessment surveys for the majority of the Town’s infrastructure assets were undertaken. Associated information and data have been input into the asset management software system and a program, based on a whole of life cycle approach for maintaining its key assets in good condition, is progressively being implemented.
It is Council’s intention that its asset management approach will encompass the whole of life principles and sustainability associated with the built environment. Throughout the year, Council has continued to responsibly manage its asset management programs and incorporate ecological design features into its projects wherever possible. Examples of sustainability initiatives incorporated into its asset replacement programs are outlined below:
• LED lighting installation to Council buildings
• LED lighting installation to parks and recreation areas
• Installation of solar panels to Council owned buildings
Infrastructure
• Irrigation
• External lighting
• Car parks
• Waste water plant
• Bus shelters
CHRISCOLYER
39Infrastructure
Solar panels were installed on the roof at the administration building to help reduce carbon emissions and reliance on mains electricity
LED lighting installation to Lake Monger public footpath area
Building Capital Works Program
The Town has undertaken substantial renewal of its buildings sub-elements and associated infrastructure. It has completed a number of Building Capital Works Projects in 2014-2015 including:
• Replacement air conditioning system - administration building (second stage)
• Replacement fire alarm and EWIS system - administration building
• Replacement of main electrical distribution board - Lake Monger recreation facility
• Replacement windows and frames - YMCC Hockey Pavilion, Alderbury Reserve
• Replacement bowling green lights - Leederville Bowling and Sporting Club
• External brickwork repairs, and rendering to YMCC Hockey Pavilion - Alderbury Reserve
Road works for Safety and Access
Road Work Projects
The total expenditure for improving the road system was $2,642,000. Significant projects included:
• Cambridge Street (Northwood to Holyrood) - completion of the high street project.
• Howtree Place / Oceanic Drive / Brookdale Street - pedestrian crossings and protected right turn arrow for traffic on Oceanic Drive. (Blackspot funded project).
• Howtree Place / The Boulevard - pedestrian crossings and removal of right turn filter (Blackspot funded project).
• The Boulevard / Templetonia Crescent - right turn pocket and median islands.
• The Boulevard / Durston Road - pre-deflections on The Boulevard to reduce speed of vehicles entering the roundabout.
• Durston Road / Empire Avenue - slow point and traffic island to reduce speed of vehicles approaching the T-junction.
• Dodd Street - two speed humps installed adjacent to primary school.
• Crosby Street / Highbury Street - Y-junction converted to a T-junction.
Road Resurfacing
The Town has 172 km of sealed roads that are ideally resurfaced every 20 - 30 years, depending on traffic loading. During 2014/2015, resurfacing of 7.39 km of road was scheduled and the total expenditure was $2,312,000. The major projects were grant funded and were located on Empire Avenue, Selby Street, The Boulevard, Cambridge Street and Elphin Street. All roads, car parks, shared paths and lanes were inspected for condition and the five year asphalt resurfacing program for these assets was updated.
Lanes
Eastlake Lane and Humphreys Lane, located between Grantham Street and Scadden Street, were improved by constructing a pavement, sealing, kerbing and installing drainage. These lanes have some of the steepest grades for lanes in the Town and the sand surface was badly eroded by traffic and stormwater runoff. Final expenditure was $453,000.
Stormwater Drainage
The Town maintains a network of 101km of stormwater pipes and 5,352 drainage pits that transfer stormwater into a combination of 22 sumps, four lakes and four Water Corporation main drains. A five year improvement program commenced in 2011 to address flooding issues that occurred during the intense storm of March 2010. 34 improvement projects were funded this year and were either completed or designed and waiting for construction later in 2015. The major projects were located on Bermondsey Street, Keane Street, Louth Road, Moray Avenue, Railway Parade and Woolwich Street.
A survey of all drainage assets was carried out to accurately locate and document all stormwater infrastructure that has been progressively installed since 1930. This will assist the 10 year CCTV pipe inspection program that the Town commenced in 2009. The CCTV program is useful for locating pipes and pits that are partially blocked by tree roots, underground utilities and other causes that cannot be seen from the surface. The damage is then repaired as part of a drainage rehabilitation program. The total value of all drainage works was $773,000.
40 Town of Cambridge Annual Report 2014-15
Footpaths and Shared Paths
The Town continued to improve its network of 156km of footpaths and 33.5km of shared paths in accordance with its Footpath Improvement Program and Bike Plan with a total expenditure of $1,188,000. A total of 4.8km of old slab footpaths were replaced with concrete paths.
New paths were constructed on Tilton Terrace, Frinton Avenue and Dodd Street. Shared paths (3m wide) were constructed on Kalinda Drive (The Boulevard to Kalari Drive) and Southport Street (Cambridge Street to PTA bus station) with 50% funding from Department of Transport.
Bus Shelters
A new glass and aluminium bus shelter was installed on Cambridge Street near Blencowe Street to complement the Cambridge ‘high street’ project
Engineering Design
The Engineering Design section supports the operations of infrastructure works, waste management and parks with the preparation of detailed designs and plans.
Activities during the year, to prepare future programs and formulate efficient asset management, included:
• liaison with adjacent councils and government authorities, such as the Perth Transport Authority and Main Roads WA on traffic management issues;
• collection of traffic speed and volume data on Town roads;
• assessment of traffic crash statistics and preparation of designs of treatments to improve safety and reduce vehicle, bicycle and pedestrian accidents;
• recommendations on traffic management proposals to improve safety and amenity of residents;
• liaison and consultation with residents and other road users on traffic related issues;
• assessment of residential and commercial development planning proposals in relation to traffic and safety issues;
• assist with the preparation and implementation of the Building Management Program for the maintenance and enhancement of the Town’s public buildings;
• establishing a forward works program of well-planned design projects which builds on relationships and funding from state and federal government;
• Proposing and implementing parking restrictions in order to manage road safety and amenity issues; and
• Review proposed development plans for land development at the Salvado Road old nursery site and Area G in Mount Claremont.
Examples of some recently completed design projects include the following:
• Salvado Road roundabout at the St John of God Hospital entry - join project with City of Subiaco.
• Oceanic Drive/Brookdale St/Howtree Place (State Blackspot project)
• The Boulevard/Howtree Place (Federal Blackspot project)
• The Boulevard/Templetonia Crescent and The Boulevard/Durston Road intersections
• Crosby Street/Highbury Street
• Pedestrian crossing improvements on Grantham Street between Selby Street and Harborne Street
• Miscellaneous drainage projects across the Town aiming to alleviate localised run-off issues
• Bermondsey Street/Oxford Close drainage design improvements
• Kalinda Drive shared path design - The Boulevard to Marimba Crescent.
• Laneways - Eastlake Lane, Humphreys Lane, Jacobsen Lane and Piper Lane
• Durston Road approach to Empire Avenue
Preparation for future design proposals is underway for some future projects:-
• Grantham/Jersey intersection to reduce traffic accidents
• Grantham/Harborne intersection to assist with reduction in traffic accidents
• Underwood/Brookdale/Brockway intersection to improve traffic efficiency and address accident statistics. This is a joint design with City of Nedlands.
41Infrastructure
Waste Management
The Town provides a comprehensive waste and recycling service designed to make it easy for residents to conserve natural resources and reduce waste destined for landfill. The Town has continued to encourage residents to aim for Maximum Recovery with an overall goal of increasing recycling rates to 50%.
The Maximum Recovery System includes a 120L General Waste Bin (red lid), 360L Sumo Bin (yellow lid) and 240L Green Waste Bin (lime green lid) as the standard collection service; with an option to have two recycling bins (yellow lid) at no charge. Promotion of Maximum Recovery in particular the green waste service has helped to divert an additional 3.2% of waste away from landfill during 2014/2015. Our community now achieves 29.3% recyclable products, 16.9% green waste and 53.8% general waste.
E-Waste Drop-Off Days
In February 2015 the Town hosted an e-waste drop off day which gave over 500 residents the opportunity to recycle unwanted electronic items such as TVs and computers. The Town diverted 15 tonnes of waste from landfill at this event and because of its popularity Council will now host two e-waste drop-off days annually in February and August prior to the bulk verge collection commencement.
Mattress Recycling
Another initiative the Town introduced in 2014/2015 was the on-demand mattress recycling program. This service enables residents to book in a mattress recycling collection from their verge for no charge. In the last year the Town has diverted 777 mattresses from landfill. Mattresses are deconstructed and materials repurposed. Usually the metal components are sold as scrap and the foam turned into carpet underlay. The timber and pocket springs are used to make dog beds. Your old mattress gets a whole new life!
Waste Education Campaign
The Town has continued with the successful Maximum Recovery campaign. This campaign demonstrates our ongoing best practice waste collection system and encourages residents to achieve Maximum Recovery. The Town continues to promote a simplified message about what can go into the recycling bin - anything that is paper, cardboard, metal, glass or plastic.
Garage Sale Trail
For the first time in 2014 the Town hosted a garage sale hub at Lake Monger as part of the Garage Sale Trail program which is a national initiative to waste less and reuse more. The event held on 25 October 25 had over 60 sales stalls registered on the day and a host of other sustainability themed activities for the family to enjoy. The event was a huge success and will be running again this year.
Bin Tagging Trial Program
In early 2015 some residents may have noticed “Tags” placed on both their waste and recycling bins. These tags were part of a trial project the Town was involved in and were used as an education tool to provide direct feedback on what was in each bin. The aim of the project was to reduce waste to landfill which saves ratepayers money and helps the environment by ensuring the Town is achieving Maximum Recovery.
At the start of the project Cambridge was leading other councils participating in the trial, with 64% of the recycling bins being deemed contaminate free. Over the 8 weeks of the trial there was an 8% increase in perfect recycling bins and a massive 29.3% drop in recyclables found in waste bins.
During the trial the biggest issue identified was recyclables being tied up in plastic bags, resulting in them being treated as landfill. Empty plastic bags belong in the recycling bin but all recyclables must go in the bin loose. Over the program the number of recyclables in plastic bags dropped from 23.2% to 14.1%, a very pleasing result!
At the close of the trial all perfect recyclers went into a draw with 30 Recycling Champions selected to receive a $50 gift voucher for their recycling efforts!
42 Town of Cambridge Annual Report 2014-15
Statistics
At the end of the reporting period the following data was recorded to reflect the Town’s recycling rate compared to historic data over six years and the desired target.
Budget YearRecycling Collection
(tonnes)Green Waste Collection
(tonnes)General Waste
Collection (tonnes)Total Collection
(tonnes)
2009/2010 3,494 9,416 12,910
2010/2011 3,731 8,750 12,481
2011/2012 3,550 532 8,588 12,670
2012/2013 3,543 1,438 7,639 12,620
2013/2014 3,649 1,797 7,210 12,656
2014/2015 3,726 2,148 6,852 12,726
Change + 77 + 351 - 328 + 70
Infrastructure Parks
Cambridge has some of Perth’s most beautiful public open spaces including Lake Monger and Perry Lakes reserves together with City and Floreat beaches. The Town also maintains many active recreational and bushland parks and landscaped road reserves, including street trees, ensuring a sustainable, safe and enjoyable experience for all visitors.
General Improvements
This year works included:-
• Commencement of upgrading Floreat Beach Park including landscape and boardwalk improvements;
• Completion of stage two of a three stage program to improve the structural integrity of the City Beach Groyne;
• Installation of information signage at Wembley Sports Park;
• Installation of outdoor exercise equipment at Bent Park, City Beach;
• Completion of an Improvement concept Plan for Rutter Park, Wembley estimated at $320,000. Improvements will include new visitor facilities including picnic and barbecue areas and a flying fox/nature playground;
• Rehabilitation of Templetonia Park City Beach including replacement of woody wattle weeds;
• Renovation of the turf playing surface at various sportsgrounds;
• Final stage of checking and auditing external park lights to ensure compliance with safety standards; and
• Replacement of shade sails, equipment and sand at various playgrounds.
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Recycling Green Waste General Waste
2011
29.9%
0.0%
70.1%
2012
28.0%
4.2%
67.8%
2013
11.4%
28.1%
60.5%
Ultimate Target
30.0%
50.0%
20.0%
2014
14.2%
28.8%
57.0%
2015
16.9%
29.3%
53.8%
2010
72.9%
0.0%
27.1%
43Infrastructure
Lake Monger Reserve
This regional recreation reserve is an important conservation wetland, a significant Aboriginal heritage site and is one of the Town’s most popular destinations for passive and active recreation. The Lake Monger Reserve Management Plan 2008-2018 and its Implementation Program underpin the management of the reserve.
In addition to the day to day maintenance works undertaken to maintain this reserve to a high standard, the following improvements were also completed: -
Installation of LED security lights on the east side of the lake, with the final stage along Lake Monger Drive programmed in 2015/2016;
• Installation of Interpretive Information Signs;
• Replacement of barbecues in the Dodd Street picnic area;
• Arboricultural tree management works including tree planting throughout the reserve to improve biodiversity, safety and long-term viability of trees;
• On-going management of the bird refuge island and the vegetated channel, jointly funded by the City of Vincent and Main Roads WA;
• Continued partnership arrangement with UWA to provide water quality monitoring to detect seasonal trends and to predict the lake’s ecological health;
• Lake Rehabilitation works were again undertaken on the western edge of the lake as part of the Lake Monger Ecological Restoration Program and included replacement of exotic vegetation with native wetland plants. This was stage two of a six stage program where around 10,000 trees and shrubs were planted; and
• The Arbor day planting event was organised at Lake Monger this year which included local primary school students planting around 300 trees and shrubs.
Perry Lakes Reserve
This regional reserve provides tranquil bushland surroundings for passive and active recreation. It is the perfect spot for a quiet barbecue or to just take a stroll amongst the many local native tree species dotted throughout the reserve. The Perry Lakes Reserve Environmental Management Plan and Implementation Program guide improvement works around the lakes.
This year works included:
• Installation of a barbecue facility at the south east area adjacent to the new playground;
• On-going replacement of non-indigenous trees with indigenous species to improve water quality and biodiversity; and
• Arboricultural tree management works to improve safety and long term viability of trees.
Water Conservation Plan
The Town manages its allocated ground water resource for irrigation in accordance with the Water Conservation Plan. Cambridge Council continued to be a leader in the efficient use of water for irrigation. There are currently 189 hectares under irrigation which are managed using industry best practice methods including:
• Hydrozoning of parks to apply only the required amount of water based on the need and use of the park. A weather station and a central control computer system were replaced to ensure on-going monitoring of the weather and only apply irrigation when turf and plants need it;
• Ecozoning of parks to promote biodiversity and conserve water;
• Servicing and replacement of six irrigation bores and pumps including the treatment of selected bores for iron bacteria to maximise their efficiency;
• Monitoring ground water quality from bores to ensure suitability for irrigation;
• Participation in the development of best practices in turf management with other local governments and the University of Western Australia Research Centre; and
• Calibration of groundwater flowmeters to ensure their accuracy and compliance with the Department of Water.
Coastal Natural Areas Management Plan
In accordance with this Plan, rehabilitation works, including removal of woody weeds and planting thousands of tube stock plants, specially grown from local provenance seed collected from the local dunes, were undertaken in the Towns coastal dunes.
These on-going works, undertaken with the assistance of Cambridge Coastcare, aim to improve biodiversity values in the Town’s coastal dunes. Other works included the maintenance of the beach access paths and adjacent fencing to ensure the protection of the coastal dunes.
44 Town of Cambridge Annual Report 2014-15
Street Trees Treescape Plan 2010-2020
Trees are one of the Town’s most important natural assets and are regarded as critical urban infrastructure. The Town’s street trees are managed in accordance with the Treescape Plan. The purpose of the Plan is to:
• Develop attractive treescapes for every street in the Town;
• Increase the Town’s overall tree canopy area each year;
• Improve the visual appeal of commercial centres; and
• Foster community awareness of the importance of street trees and so create a sense of pride in the quality of streets.
Park Trees and Landscape Improvements
Parks and gardens in the Town are some of the most beautiful in Perth. Trees and shrubs growing in these areas contribute to making up the Town’s urban forest. A significant amount of minor tree and shrub works are undertaken on a day to day basis within the Town’s parks to keep these assets alive, healthy and safe.
To achieve the purpose of the Plan, Council adopted the Priority Streets and Precinct Streets Planting Programs. These programs aim to achieve entire street improvements and increase street tree numbers from 14,000 to 18,500 by 2024. 2014 saw the completion of year two of the planting programs with a total of 714 trees planted since the program commenced. Other significant programmed works undertaken included the Ficus Hillii Management Program, the Boulevard Pine Trees Management Program and the Phoenix Palm Management Program.
20,00018,00016,00014,00012,00010,000
8,0006,0004,0002,000
0
400350300250200150100
50
14,000
Tree numbers prior to commencement of tree
planting programs
347
Number of trees to plant per year
18,500
Tree numbers estimated at completion of
programs in 2024 (12 years)
355
Trees planted in Year 1(2013)
Street trees planting program results/targets
4,500
Proposed increase in tree numbers
359
Trees planted in Year 2(2014)
714
Total trees planted year to date 2015
Trees planted in Year 3(2015)
45Infrastructure
Garden Awards 2014
The 19th annual Garden Awards were held in November 2014. The awards were established in 1996 to recognise front gardens, inclusive of the verge, with the Town that are well maintained, aesthetically pleasing and contribute to the streetscape. All gardens considered for an award must be visible from the road and comply within the Council’s Road Verges Landscaping and Maintenance Policy. The judging panel looks for well-maintained verge and private property front gardens, including those that require minimal water use. This year the following gardens were awarded:
Best Residential Front Garden 30 Glengariff Drive, Floreat
Highly Commended Residential Front Garden25 Kenmore Crescent, Floreat
Best Water Wise Front Garden18 Sudbury Way, City Beach
Highly Commended Water Wise Front Garden13 Glengariff Drive, Floreat
Best Commercial/Group Housing Front Garden 1 Cambridge Street, West Leederville
Council wishes to congratulate the above residents and those residents that consistently work hard to maintain their front gardens to a high standard. This work is noticed and appreciated and it’s what makes our Town a pleasure to live in.
A
A
B
C
D
E
B
C
D
E
46 Town of Cambridge Annual Report 2014-15
Statutory Compliance and Civic Responsibilities
Elected Member Conduct
Section 5.121 of the Local Government Act 1995 requires that local governments maintain a register of complaints that result in action under Section 5.110(6)(b) or (c). There was no breach allegations lodged during the financial year.
Major Land Transactions
There were no major land transactions undertaken during the 2014/2015 financial year.
Exempt Land Transactions
There were no exempt land transactions undertaken during the 2014/2015 financial year.
Statutory ComplianceFreedom of Information Act (1992)
The Town complies with the Freedom of Information Act 1992. The Town’s Freedom of Information Statement, reviewed in November 2013 in accordance with provisions of the Act, is available on the website for public inspection.
Nine valid Freedom of Information applications were received during the 2014/2015 period. Seven of these applications were finalised during this period. Of the seven requests, four applicants received edited access to documents and two received full access. One applicant was granted viewing access only.
Compliance with the State Records Act
The Town complies with the State Records Act 2000. The Town’s Record Keeping Plan, a requirement of the Act, is in its third version. It was given a five year approval by the State Records Commission on 31 May 2013.
All communications to and from the Town are registered into the corporate electronic document management system ensuring an important information source is secure and accessible to all staff. Incoming correspondence registration and response is monitored by progress reports generated at the end of each month from the document management system. During the last financial year staff registered a total of 133,035 documents to the corporate system.
New employees are provided with in-house assistance to ensure they understand their record keeping obligations and responsibilities. Ongoing records management support is available to all staff through regularly updated user guides and manuals on the Town’s intranet, and from experienced administration staff.
National Competition Policy
National Competition Policy is a whole of government approach to bring about reform in the public sector to encourage government to become more competitive. Local government is affected mainly where it operates significant business activities, which compete or could compete with private enterprise and where local laws unnecessarily affect competition.
Competitive Neutrality
This principle deals with ensuring that government business operations do not have any advantage or disadvantage in comparison to the private sector. In the period under notice, no activities undertaken by the Town were classified as either a Public Trading Enterprise or a Public Financial Enterprise. During the reporting period no allegations of non-compliance with the principles of Competitive Neutrality were received.
Wembley Golf Course
SUMMARY 2014/2015
Operational Revenues 7,140,216
Operational Expenses 6,322,093
Notional Return 818,123
Less Advantages (792,983)
Plus Disadvantages 325,623
Estimated Return 350,763
Local Laws
The Local Government Act 1995 requires all of the Town’s Local Laws be reviewed every eightyears. Local Laws are also revised periodically on a needs basis. As part of this process local law amendments are assessed against National Competition Policy principles where appropriate.
47Chief Executive Officer’s Report
Employees Remuneration
Number of employees of the Council, in bands of $10,000, entitled to an annual cash salary of $100,000 or more.
Salary Range 30 June 30 June 2014 2015
$100,000 - $109,999 9 7
$110,000 - $119,999 3 5
$150,000 - $159,999 5 1
$160,000 - $169,999 - 4
$210,000 - $219,999 1 -
$230,000 - $239,999 - 1
48 Town of Cambridge Annual Report 2014-15
22 SQUARE KILOMETRESAREA
2 WEMBLEYAND COAST
NUMBER OF WARDS
8 COUNCILLORS
1 MAYORNUMBER OF
ELECTED MEMBERS
1994ESTABLISHED 1 JULY
28,400 ABS ERP 2014
POPULATION
October 2015Elections
17,856NUMBER OF ELECTORS
30 June 2015
11,249RATEABLE PROPERTIES
Our logo is representative of what makes the Town of Cambridge unique. Thoughtfully produced, the logo contains elements and colours which are quintessentially West Australian and relevant to the Cambridge lifestyle.
• The swan represents our state of Western Australia, and in particular our very own Lake Monger.
• The graceful arc of the swan’s neck, integrated with the letter C symbolises the Town of Cambridge.
• The Swan is centred in a diamond that indicates prosperity. • The upper green triangle denotes our beautiful parks with
the peak representing Reabold Hill. • The lower blue triangle represents our ocean and lakes. • On a broader scale, the colours of blue and green represent
strength and reliability.
Although contemporary in design, the Town’s logo retains a classic appeal.
The Town of Cambridge, in Perth’s western suburbs, is located about 8 kilometres from Perth CBD.
Cambridge, once an ancient land covered by water, has the limestone ridges and outcrops which over time have formed some of the Town’s most spectacular features including Bold Regional Park, Lake Monger and the Quarry Amphitheatre.
Today, Cambridge covers 22 square kilometres and has a population of 27,244 (ABS ERP 2012). There are over 10,000 residential properties in the Town, which is noted for its regional parks and recreational, sporting and outdoor lifestyle.
Formed on 1 July 1994, after the State Government restructured the former City of Perth, the Town is named after Cambridge University in England. It is bordered by the Cities of Vincent, Perth, Subiaco Nedlands and Stirling and contains the suburbs of City Beach, Floreat, Wembley, West Leederville, and parts of Jolimont, Mount Claremont and Wembley Downs.
The Town is home to many places of interest, including Lake Monger Reserve, Bold Regional Park, Wembley Golf Course, City Beach, Floreat Beach, Bold Park Aquatic Centre, Perry Lakes Reserve and the Quarry Amphitheatre.
About our town
About our logo
49About out town
195 NUMBER OF EMPLOYEES30 JUNE 2015
10CITY BEACH, FLOREAT, WEMBLEY, WEST LEEDERVILLE, AND PARTS OF JOLIMONT, MOUNT CLAREMONT, SUBIACO, SHENTON PARK, DAGLISH AND WEMBLEY DOWNS
SUBURBS AND LOCALITIES
5 CITIES OF VINCENT, STIRLING, PERTH, NEDLANDS AND SUBIACOBOUNDARIES
8KMDISTANCE
FROM PERTHWEST OF THE PERTH GPO
194KILOMETRES
LENGTH OF SEALED ROADS
4.5KILOMETRES
BEACHES AND COASTAL DUNES
OPERATING REVENUE$45,197,000
2014/2015 actual
COMMERCIAL SHOPPING AREAS, MEDICAL SERVICES
LOCALINDUSTRY
LAKE MONGER, PERRY LAKES, REABOLD HILL, BOLD PARK, CITY BEACH, FLOREAT BEACH, QUARRY AMPHITHEATRE, WEMBLEY GOLF COURSE (36 HOLES); BOLD PARK AQUATIC CENTRE, PERRY LAKES SKATE PARK
TOURIST ATTRACTIONS
474HECTARES
AREA OF PARKS, GARDENS AND RESERVES
RATE REVENUE2014/2015
actual
$22,195,000
OPERATING EXPENDITURE
2014/2015 actual
$41,057,000
CAPITAL EXPENDITURE
2014/2015 actual
$26,202,000
50 Town of Cambridge Annual Report 2014-15
51Financial Report
Annual FinancialReportFOR THE YEAR ENDED 30 JUNE 2015
Page
Statement by Chief Executive Officer 52
Independent Auditor’s Report 53
Statement of Comprehensive Income by Program 54
Statement of Comprehensive Income by Nature or Type 55
Statement of Financial Position 56
Statement of Changes in Equity 57
Statement of Cash Flows 58
Rate Setting Statement 59
Notes to and Forming Part of the Financial Report:
Note 1: Significant Accounting Policies 61
Note 2: Component Functions/Activities 72
Note 3: Assets Classified by Function and Activity 73
Note 4: Depreciation 73
Note 5: Conditions over Contributions 74
Note 6: Trade and Other Receivables 74
Note 7: Other Assets 74
Note 8: Inventories 74
Note 9: Cash and Cash Equivalents 75
Note 10: Trade and Other Payables 76
Note 11: Provisions 76
Note 12: Borrowings 77
Note 13: Property, Plant and Equipment, Infrastructure Assets 80
Note 14: Reserves and Cambridge Endowment Lands Account 84
Note 15: Asset Revaluation Surplus 86
Note 16: Notes to the Statement of Cash Flows 87
Note 17: Superannuation 88
Note 18: Contingent Liabilities 88
Note 19: Capital and Leasing Commitments 89
Note 20: Fees and Charges Program 89
Note 21: Grants, Subsidies and Contributions 90
Note 22: Disposal of Assets and Land Held for Resale 91
Note 23: Statement of Rating Information 92
Note 24: Trust Funds 92
Note 25: Employee Numbers 93
Note 26: Members of Council Remuneration 93
Note 27: Subsequent Events 93
Note 28: Major Land Transactions 94
Note 29: Major Trading Undertaking 96
Note 30: Other Financial Assets 97
Note 31: Investment in Regional Councils - Joint Venture 98
Note 32: Budget Comparison - Non-operating 100
Note 33: Economic Dependency 100
Note 34: Financial Risk Management 100
Note 35: Auditors Remuneration 103
Note 36: Financial Ratios of Accounts 104
52 Town of Cambridge Annual Report 2014-15
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he G
rant
Thor
nton m
embe
r firm
s pro
vide a
ssur
ance
, tax a
nd ad
visor
y ser
vices
to th
eir cl
ients
and/o
r refe
rs to
one o
r mor
e mem
ber f
irms,
as th
e co
ntext
requ
ires.
Gran
t Tho
rnton
Aus
tralia
Ltd i
s a m
embe
r firm
of G
rant
Thor
nton I
ntern
ation
al Ltd
(GTI
L). G
TIL a
nd th
e mem
ber f
irms a
re no
t a w
orldw
ide pa
rtner
ship.
GTI
L and
each
mem
ber f
irm
is a s
epar
ate le
gal e
ntity.
Ser
vices
are d
elive
red b
y the
mem
ber f
irms.
GTIL
does
not p
rovid
e ser
vices
to cl
ients.
GTI
L and
its m
embe
r firm
s are
not a
gents
of, a
nd do
not o
bliga
te on
e ano
ther a
nd
are n
ot lia
ble fo
r one
anoth
er’s
acts
or om
ission
s. In
the A
ustra
lian c
ontex
t only
, the u
se of
the t
erm
‘Gra
nt Th
ornto
n’ ma
y refe
r to G
rant
Thor
nton A
ustra
lia Li
mited
ABN
41 12
7 55
6 389
and i
ts Au
strali
an su
bsidi
aries
and r
elated
entiti
es. G
TIL i
s not
an A
ustra
lian r
elated
entity
to G
rant
Thor
nton A
ustra
lia Li
mited
.
Liabil
ity lim
ited b
y a sc
heme
appr
oved
unde
r Pro
fessio
nal S
tanda
rds L
egisl
ation
. Liab
ility i
s lim
ited i
n tho
se S
tates
whe
re a
curre
nt sc
heme
appli
es.
Inde
pend
ent
Aud
itor
’s R
epor
t
To
the
Rat
epay
ers
of T
own
of C
ambr
idge
W
e ha
ve a
udite
d th
e ac
com
pany
ing
finan
cial r
epor
t of T
own
of C
ambr
idge
(the
“To
wn”
), w
hich
com
prise
s the
stat
emen
t of f
inan
cial p
ositi
on as
at 3
0 Ju
ne 2
015,
and
the
stat
emen
t of
prof
it or
loss
and
oth
er c
ompr
ehen
sive
inco
me
by p
rogr
am, s
tate
men
t of p
rofit
or l
oss a
nd
othe
r com
preh
ensiv
e in
com
e by
nat
ure
or ty
pe, s
tate
men
t of c
hang
es in
equ
ity a
nd
stat
emen
t of c
ash
flow
s for
the
year
then
end
ed, n
otes
com
prisi
ng a
sum
mar
y of
sign
ifica
nt
acco
untin
g po
licies
and
oth
er e
xplan
ator
y in
form
atio
n to
the
finan
cial r
epor
t and
the
stat
emen
t by
the
Chief
Exe
cutiv
e O
ffice
r.
Res
pons
ibili
ty o
f th
e C
ounc
il fo
r th
e fi
nanc
ial r
epor
t Th
e Co
uncil
of t
he T
own
of C
ambr
idge
is re
spon
sible
for t
he p
repa
ratio
n an
d fa
ir pr
esen
tatio
n of
the
finan
cial r
epor
t in
acco
rdan
ce w
ith A
ustra
lian
Acc
ount
ing
Stan
dard
s (in
cludi
ng th
e A
ustra
lian
Acc
ount
ing
Inte
rpre
tatio
ns) a
nd th
e Lo
cal G
over
nmen
t Act
199
5 Pa
rt 6.
Thi
s res
pons
ibili
ty in
clude
s suc
h in
tern
al co
ntro
ls as
the
Coun
cil d
eter
min
e ar
e ne
cess
ary
to e
nabl
e th
e pr
epar
atio
n of
the
finan
cial r
epor
t to
be fr
ee fr
om m
ater
ial
miss
tate
men
t, w
heth
er d
ue to
frau
d or
err
or.
Aud
itor
’s r
espo
nsib
ility
O
ur re
spon
sibili
ty is
to e
xpre
ss a
n op
inio
n on
the
finan
cial r
epor
t bas
ed o
n ou
r aud
it. W
e co
nduc
ted
our a
udit
in a
ccor
danc
e w
ith A
ustra
lian
Aud
iting
Sta
ndar
ds w
hich
requ
ire u
s to
com
ply
with
relev
ant e
thica
l req
uire
men
ts re
latin
g to
aud
it en
gage
men
ts a
nd p
lan a
nd
perf
orm
the
audi
t to
obta
in re
ason
able
assu
ranc
e w
heth
er th
e fin
ancia
l rep
ort i
s fre
e fr
om
mat
erial
miss
tate
men
t.
An
audi
t inv
olve
s per
form
ing
proc
edur
es to
obt
ain a
udit
evid
ence
abo
ut th
e am
ount
s and
di
sclo
sure
s in
the
finan
cial r
epor
t. T
he p
roce
dure
s sele
cted
dep
end
on th
e au
dito
r’s
judg
emen
t, in
cludi
ng th
e as
sess
men
t of t
he ri
sks o
f mat
erial
miss
tate
men
t of t
he fi
nanc
ial
repo
rt, w
heth
er d
ue to
frau
d or
err
or.
In m
akin
g th
ose
risk
asse
ssm
ents
, the
aud
itor c
onsid
ers i
nter
nal c
ontro
l rele
vant
to th
e To
wn’
s pre
para
tion
and
fair
pres
enta
tion
of th
e fin
ancia
l rep
ort i
n or
der t
o de
sign
audi
t pr
oced
ures
that
are
app
ropr
iate
in th
e cir
cum
stan
ces,
but n
ot fo
r the
pur
pose
of e
xpre
ssin
g an
opi
nion
on
the
effe
ctiv
enes
s of t
he e
ntity
’s in
tern
al co
ntro
l. A
n au
dit a
lso in
clude
s ev
aluat
ing
the
appr
opria
tene
ss o
f acc
ount
ing
polic
ies u
sed
and
the
reas
onab
lenes
s of
acco
untin
g es
timat
es m
ade
by th
e Co
uncil
, as w
ell a
s eva
luat
ing
the
over
all p
rese
ntat
ion
of
the
finan
cial r
epor
t.
We
perf
orm
ed th
e pr
oced
ures
to a
sses
s whe
the r
in a
ll m
ater
ial re
spec
ts th
e fin
ancia
l rep
ort
pres
ents
fairl
y, in
acc
orda
nce
with
the
Loca
l Gov
ernm
ent A
ct 1
995
Part
6 an
d A
ustra
lian
Acc
ount
ing
Stan
dard
s (in
cludi
ng th
e A
ustra
lian
Acc
ount
ing
Inte
rpre
tatio
ns),
a vi
ew w
hich
is
cons
isten
t with
our
und
erst
andi
ng o
f the
Tow
n of
Cam
brid
ge’s
finan
cial p
ositi
on a
nd o
f th
eir p
erfo
rman
ce.
We
belie
ve th
at th
e au
dit e
vide
nce
we
have
obt
ai ned
is su
fficie
nt a
nd a
ppro
priat
e to
pro
vide
a
basis
for o
ur a
udit
opin
ion.
Inde
pend
ence
In
con
duct
ing
our a
udit,
we
have
com
plied
with
the
appl
icabl
e in
depe
nden
ce re
quire
men
ts
of th
e A
ccou
ntin
g Pr
ofes
siona
l and
Eth
ical S
tand
ards
Boa
rd.
Aud
itor
’s O
pini
on
In o
ur o
pini
on, t
he fi
nanc
ial re
port
of T
own
of C
ambr
idge
ipr
esen
ts fa
irly,
in a
ll m
ater
ial re
spec
ts, t
he T
own
of C
ambr
idge
’s fin
ancia
l pos
ition
as
at 3
0 Ju
ne 2
015
and
of it
s per
form
ance
and
cas
h flo
ws f
or th
e ye
ar th
en e
nded
; an
d
iico
mpl
ies w
ith A
ustra
lian
Acc
ount
ing
Stan
dard
s (in
cludi
ng th
e A
ustra
lian
Acc
ount
ing
Inte
rpre
tatio
ns);
and
iiiis
prep
ared
in a
ccor
danc
e w
ith th
e re
quire
men
ts o
f the
Loc
al G
over
nmen
t Act
199
5 Pa
rt 6
(as a
men
ded)
and
Reg
ulat
ions
und
er th
at A
ct.
Sta
tuto
ry C
ompl
ianc
e I d
id n
ot, d
urin
g th
e co
urse
of m
y au
dit,
beco
me
awar
e of
any
inst
ance
whe
re th
e Co
uncil
di
d no
t com
ply
with
the
requ
irem
ents
of t
he L
ocal
Gov
ernm
ent A
ct 1
995
and
Loca
l G
over
nmen
t (Fi
nanc
ial M
anag
emen
t) Re
gulat
ions
199
6 as
they
relat
e to
the
finan
cial
stat
emen
ts.
GRA
NT
THO
RNTO
N A
UD
IT P
TY L
TD
Char
tere
d A
ccou
ntan
ts
M J
Hill
grov
e Pa
rtner
- A
udit
& A
ssur
ance
Pe
rth, 6
Oct
ober
201
5
54 Town of Cambridge Annual Report 2014-15
This
Stat
emen
t sho
uld
be re
ad in
con
junc
tion
with
the
acco
mpa
nyin
g no
tes.
STAT
EMEN
T O
F CO
MPR
EHEN
SIVE
INCO
ME
BY P
ROG
RAM
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
Note
2015
Ac
tual
2015
Bu
dget
2014
Ac
tual
$$
$RE
VENU
EGe
nera
l Pur
pose
Fun
ding
25,
433,
076
24,
628,
800
22,
947,
184
Gove
rnan
ce 1
21,1
79
69,
000
185
,710
La
w, O
rder
and
Pub
lic S
afet
y 1
64,6
28
122
,800
1
80,9
33
Healt
h 7
7,87
0 6
7,00
0 6
8,20
0 Ed
ucat
ion
and
Wel
fare
1,1
00,9
78
1,1
16,5
00
1,0
67,2
90
Com
mun
ity A
men
ities
2,8
17,3
68
2,6
97,0
00
2,7
02,4
98
Recr
eatio
n an
d Cu
lture
9,1
81,7
33
9,1
36,1
00
9,6
43,1
63
Tran
spor
t 2
,148
,117
2
,287
,000
2
,238
,260
Ec
onom
ic Se
rvice
s 5
00,5
44
516
,000
5
83,1
48
Othe
r Pro
perty
and
Ser
vices
220
,529
1
56,4
00
269
,251
4
1,76
6,02
2 4
0,79
6,60
0 3
9,88
5,63
7 Ex
pens
es E
xclu
ding
Fin
ance
Cos
tsGe
nera
l Pur
pose
Fun
ding
575
,735
5
83,0
00
608
,279
Go
vern
ance
1,7
56,7
04
1,6
99,4
00
1,7
39,0
49
Law,
Ord
er a
nd P
ublic
Saf
ety
1,4
35,8
64
1,4
90,3
00
1,4
12,3
62
Healt
h 5
68,0
40
521
,000
4
60,0
29
Educ
atio
n an
d W
elfa
re 1
,723
,323
1
,721
,600
1
,639
,515
Co
mm
unity
Am
enitie
s 5
,884
,899
5
,907
,800
5
,552
,412
Re
crea
tion
and
Cultu
re 1
7,33
4,32
9 1
7,41
8,20
0 1
7,38
4,14
1 Tr
ansp
ort
8,2
21,3
07
8,1
72,5
00
7,4
21,1
02
Econ
omic
Serv
ices
551
,212
6
46,7
00
598
,783
Ot
her P
rope
rty a
nd S
ervic
es 2
,562
,503
2
,534
,800
2
,041
,538
4
0,61
3,91
6 4
0,69
5,30
0 3
8,85
7,21
0 Fi
nanc
e Co
sts
Gove
rnan
ce 3
,400
3
,300
4
,540
Re
crea
tion
and
Cultu
re 4
00,1
65
344
,800
4
28,7
57
Othe
r Pro
perty
and
Ser
vices
39,
420
38,0
00 3
9,10
5 1
2 4
42,9
85
386
,100
4
72,4
02
Oper
atin
g Re
sult
709
,121
(2
84,8
00)
556
,025
Note
2015
Ac
tual
2015
Bu
dget
2014
Ac
tual
$$
$
Gran
ts a
nd S
ubsi
dies
- N
on O
pera
ting
Law,
Ord
er a
nd P
ublic
Saf
ety
1,3
75,0
00
1,9
00,0
00
302
,318
Ed
ucat
ion
and
Wel
fare
6,6
46
14,
500
4,0
32
Com
mun
ity A
men
ities
562
,572
4
80,0
00
152
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Re
crea
tion
and
Cultu
re 3
74,0
90
559
,500
1
,097
,212
Tr
ansp
ort
1,1
13,0
13
1,2
05,8
00
724
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2
1 3
,431
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4
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2
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,114
Fair
Valu
e Ad
just
men
ts to
Fin
anci
alAs
sets
at f
air v
alue
thro
ugh
profi
t or l
oss
Gene
ral P
urpo
se F
undi
ng 8
8,72
0 -
(1
84,5
31)
88,
720
-
(184
,531
)Di
spos
al o
f Ass
ets
Gain
on
Disp
osal
of A
sset
s 6
,261
,980
8
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1
9,55
5,96
5 Lo
ss o
n Di
spos
al of
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ets
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54,1
64)
(88,
000)
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,191
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2 5
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8
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1
8,66
3,77
4
Chan
ge in
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ity -
Joi
nt V
entu
res
Othe
r Pro
perty
and
Ser
vices
31
2,6
81,1
47
-
103
,452
Decr
emen
t on
Reva
luat
ion
of A
sset
s 1
3 -
-
(5
75,0
16)
NET
RESU
LT 1
2,11
8,12
5 1
2,37
8,50
0 2
0,84
3,81
8
Othe
r Com
preh
ensi
ve In
com
eCh
ange
s on
reva
luat
ion
of n
on c
urre
nt a
sset
s 1
5 2
2,69
7,76
5 -
7
0,96
4,89
2
TOTA
L CO
MPR
EHEN
SIVE
INCO
ME
34,
815,
890
12,
340,
500
91,
808,
710
55Financial Report
This
Stat
emen
t sho
uld
be re
ad in
con
junc
tion
with
the
acco
mpa
nyin
g no
tes.
STAT
EMEN
T O
F CO
MPR
EHEN
SIVE
INCO
ME
BY N
ATU
RE O
R TY
PEFO
R TH
E YE
AR
END
ED 3
0 JU
NE
2015
Note
2015
Ac
tual
2015
Bu
dget
2014
Ac
tual
$$
$Re
venu
eRa
tes
23 2
2,19
4,67
2 2
2,13
6,00
0 2
1,00
2,31
5 Op
erat
ing
Gran
ts, S
ubsid
ies
and
Cont
ribut
ions
21 3
,371
,207
2
,902
,600
2
,657
,299
Fe
es &
Cha
rges
20 1
3,93
8,79
6 1
3,86
9,70
0 1
4,26
0,77
5 In
tere
st E
arni
ngs
1,6
82,6
82
1,4
42,3
00
1,4
09,1
97
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r Rev
enue
/Inco
me
578
,665
4
46,0
00
556
,051
4
1,76
6,02
2 4
0,79
6,60
0 3
9,88
5,63
7
Expe
nses
Exc
ludi
ng F
inan
ce C
osts
Empl
oyee
Cos
ts 1
6,90
7,45
3 1
7,07
1,40
0 1
6,79
3,37
7 M
ater
ials
& Co
ntra
cts
14,
202,
022
14,
165,
900
12,
947,
845
Utilit
ies
1,4
87,3
58
1,6
15,0
00
1,7
54,7
28
Insu
ranc
e 4
68,3
45
480
,500
4
88,7
92
Othe
r Exp
endi
ture
640
,722
6
64,5
00
371
,761
De
prec
iatio
n on
Non
-cur
rent
Ass
ets
4 6
,908
,016
6
,698
,000
6
,500
,707
4
0,61
3,91
6 4
0,69
5,30
0 3
8,85
7,21
0 Fi
nanc
e Co
sts
Inte
rest
Exp
ense
s12
442
,985
3
86,1
00
472
,402
4
42,9
85
386
,100
4
72,4
02
Oper
atin
g Re
sult
709
,121
(2
84,8
00)
556
,025
Non
Oper
atin
g Gr
ants
, Sub
sidi
es
and
Cont
ribut
ions
21 3
,431
,321
4
,159
,800
2
,280
,114
Fair
Valu
e Ad
just
men
ts to
Fin
anci
al A
sset
s at
fair
valu
e th
roug
h pr
ofit o
r los
s 8
8,72
0 -
(1
84,5
31)
Note
2015
Ac
tual
2015
Bu
dget
2014
Ac
tual
$$
$Di
spos
al o
f Ass
ets
Gain
on
Disp
osal
of A
sset
s 6
,261
,980
8
,553
,500
1
9,55
5,96
5 Lo
ss o
n Di
spos
al of
Ass
ets
(1,0
54,1
64)
(88,
000)
(892
,191
)22
5,2
07,8
16
8,4
65,5
00
18,
663,
774
Chan
ge In
Equ
ity -
Joi
nt V
entu
res
31 2
,681
,147
-
1
03,4
52
Decr
emen
t on
Reva
luat
ion
of A
sset
s13
-
-
(575
,016
)
NET
RESU
LTS
12,
118,
125
12,
340,
500
20,
843,
818
Chan
ges
on re
valu
atio
n of
non
cur
rent
ass
ets
15 2
2,69
7,76
5 -
7
0,96
4,89
2
TOTA
L CO
MPR
EHEN
SIVE
INCO
ME
34,
815,
890
12,
340,
500
91,
808,
710
56 Town of Cambridge Annual Report 2014-15
STAT
EMEN
T O
F FI
NA
NCI
AL
POSI
TIO
NA
S AT
30
June
201
5
Note
2015
Ac
tual
$
2014
Ac
tual
$
CURR
ENT
ASSE
TS
Cash
and
Cas
h Eq
uiva
lent
s9
32,5
44,9
7239
,601
,746
Trad
e an
d Ot
her R
ecei
vabl
es6
1,82
0,94
81,
725,
088
Othe
r7
105,
329
122,
281
Inve
ntor
ies
851
3,29
71,
310,
664
Tota
l Cur
rent
Ass
ets
34,9
84,5
4642
,759
,779
NON-
CURR
ENT
ASSE
TS
Trad
e an
d Ot
her R
ecei
vabl
es6
361,
607
397,
010
Prop
erty,
Plan
t and
Equ
ipm
ent a
nd In
frast
ruct
ure
1328
5,14
3,32
324
4,47
8,81
3
Fina
ncial
Ass
ets
3064
1,70
762
7,24
5
Inve
stm
ents
319,
163,
129
6,59
0,91
9
Tota
l Non
-Cur
rent
Ass
ets
295,
309,
766
252,
093,
987
TOTA
L AS
SETS
330,
294,
312
294,
853,
766
CURR
ENT
LIAB
ILIT
IES
Trad
e an
d Ot
her P
ayab
les
106,
618,
155
4,87
5,44
6
Prov
ision
s Cu
rrent
112,
421,
762
2,42
9,69
3
Borro
wing
s12
590,
485
2,21
0,32
3
Tota
l Cur
rent
Lia
bilit
ies
9,63
0,40
29,
515,
462
Note
2015
Ac
tual
$
2014
Ac
tual
$
NON-
CURR
ENT
LIAB
ILIT
IES
Prov
ision
s No
n-Cu
rrent
1132
1,69
032
7,06
5
Borro
wing
s12
12,6
24,5
1812
,109
,427
Tota
l Non
-Cur
rent
Lia
bilit
ies
12,9
46,2
0812
,436
,492
TOTA
L LI
ABIL
ITIE
S22
,576
,610
21,9
51,9
54
NET
ASSE
TS30
7,71
7,70
227
2,90
1,81
2
EQUI
TY
Reta
ined
Sur
plus
191,
251,
736
170,
276,
406
Rese
rves
- C
ash/
Inve
stm
ent B
acke
d14
22,8
03,3
0931
,660
,514
Reva
luat
ion
Surp
lus
1593
,662
,657
70,9
64,8
92
TOTA
L EQ
UITY
307,
717,
702
272,
901,
812
This
Stat
emen
t sho
uld
be re
ad in
con
junc
tion
with
the
acco
mpa
nyin
g no
tes.
57Financial Report
This
Stat
emen
t sho
uld
be re
ad in
con
junc
tion
with
the
acco
mpa
nyin
g no
tes.
STAT
EMEN
T O
F CH
AN
GES
IN E
QU
ITY
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
Note
Reta
ined
Surp
lus $
Rese
rves
Cash
/ In
vest
men
tBa
cked $
Cam
brid
geEn
dow
men
tLa
nd A
ccou
nt $
Reva
luat
ion
Surp
lus $
Tota
lEq
uity $
Balan
ce a
s at
1 J
uly
2013
166
,981
,726
4
,601
,104
9
,510
,272
-
1
81,0
93,1
02
Net R
esul
t 2
0,84
3,81
8 -
-
-
2
0,84
3,81
8
Tota
l Oth
er C
ompr
ehen
sive
Inco
me
-
-
-
70,
964,
892
70,
964,
892
Tran
sfer
from
/(to)
Res
erve
s/EL
A(1
7,54
9,13
8)(5
59,9
42)
18,
109,
080
-
-
Bala
nce
as a
t 30
June
201
414
170
,276
,406
4
,041
,162
2
7,61
9,35
2 7
0,96
4,89
2 2
72,9
01,8
12
Net R
esul
t 1
2,11
8,12
5 -
-
-
1
2,11
8,12
5
Tota
l Oth
er C
ompr
ehen
sive
Inco
me
-
-
-
22,
697,
765
22,
697,
765
Tran
sfer
from
/(to)
Res
erve
s/EL
A8,
857,
205
1,72
7,26
3(1
0,58
4,46
8) -
-
Bala
nce
as a
t 30
June
201
514
191
,251
,736
5
,768
,425
1
7,03
4,88
4 9
3,66
2,65
7 3
07,7
17,7
02
58 Town of Cambridge Annual Report 2014-15
STAT
EMEN
T O
F CA
SH F
LOW
SFO
R TH
E YE
AR
END
ED 3
0 JU
NE
2015
Note
2015
2015
2014
Actu
alBu
dget
Actu
al$
$$
Cash
Flo
ws
From
Ope
ratin
g Ac
tiviti
esRe
ceip
tsRa
tes
22,
214,
872
22,
136,
000
21,
049,
264
Gran
ts a
nd s
ubsid
ies
and
cont
ribut
ions
(ope
ratin
g) 2
,932
,639
2
,514
,000
2
,628
,307
Se
rvice
cha
rges
3,1
18
3,2
00
2,8
33
Fees
and
cha
rges
1
5,94
1,03
9 1
4,43
9,30
0 1
6,65
6,19
2 In
tere
st re
ceive
d 1
,858
,278
1
,509
,000
1
,304
,047
Go
ods
and
Serv
ices
Tax
Refu
nd 2
,330
,156
7
50,0
00
768
,592
Ot
her r
even
ue/in
com
e 6
61,7
94
521
,000
5
56,0
51
45,
941,
896
41,
872,
500
42,
965,
286
Paym
ents
Empl
oyee
exp
ense
s (1
6,71
1,51
2) (1
6,79
9,70
0) (1
6,45
1,22
1)M
ater
ials
and
cont
ract
s (1
6,77
4,20
3) (1
3,60
4,40
0) (1
6,79
3,40
5)Ut
ilitie
s (1
,487
,358
) (2
,385
,600
) (1
,754
,727
)In
sura
nce
(468
,345
) (3
80,6
00)
(405
,697
)In
tere
st P
aid (4
56,1
94)
(469
,800
) (5
41,2
02)
Othe
r exp
endi
ture
(640
,718
) (8
11,0
00)
(371
,761
) (3
6,53
8,33
0) (3
4,45
1,10
0) (3
6,31
8,01
3)
Net C
ash
Prov
ided
By
Oper
atin
g Ac
tiviti
es16
9,4
03,5
66
7,4
21,4
00
6,6
47,2
73
Cash
Flo
ws
From
Inve
stin
g Ac
tiviti
esRe
ceip
tsGr
ants
/Con
tribu
tions
for d
evel
opm
ent o
f Ass
ets
3,4
31,3
21
4,1
59,8
00
3,3
74,1
82
Repa
ymen
t of i
nves
tmen
ts fr
om Ta
mala
Par
k 2
,583
,334
-
8
33,3
32
Proc
eeds
from
Inve
stm
ents
Mat
ured
74,
258
-
88,
391
Sale
of l
and
4,6
55,3
68
11,
646,
000
22,
140,
170
Sale
of e
xter
nal p
lant a
nd e
quip
men
t 2
92,5
78
133
,500
3
63,4
52
11,
036,
859
15,
939,
300
26,
799,
527
Note
2015
2015
2014
Actu
alBu
dget
Actu
al$
$$
Paym
ents
Purc
hase
of I
nves
tmen
t (2
1,06
3) -
(1
9,85
1)Pu
rcha
se o
f Inf
rast
ruct
ure
Asse
ts (6
,099
,029
) (1
5,83
8,30
0) (7
,281
,488
)Pu
rcha
se o
f Lan
d an
d Bu
ildin
gs (9
62,1
62)
(28,
036,
500)
(1,0
88,6
65)
Purc
hase
of O
ffice
Fur
nitu
re a
nd E
quip
men
t (6
43,7
33)
(1,4
89,5
00)
(1,1
39,1
78)
Purc
hase
of E
xter
nal P
lant a
nd E
quip
men
t (6
37,1
07)
(937
,000
) (6
76,3
99)
Purc
hase
of L
and
Held
for R
esale
(26,
135)
-
(215
,075
)W
ork
in p
rogr
ess
13 (1
7,87
0,41
9) (7
00,0
00)
(5,0
66,7
99)
(26,
259,
648)
(47,
001,
300)
(15,
487,
455)
Net C
ash
from
/(us
ed in
) Inv
estin
g Ac
tiviti
es (1
5,22
2,78
9) (3
1,06
2,00
0) 1
1,31
2,07
2
Rece
ipts
Proc
eeds
from
bor
rowi
ng 3
4,17
7 5
5,00
0 6
39,1
05
Incr
ease
/(Dec
reas
e) in
Dep
osits
and
Bon
ds (1
32,8
03)
(100
,000
) (6
7,20
0) (9
8,62
6) (4
5,00
0) 5
71,9
05
Paym
ents
Repa
ymen
t of b
orro
wing
s (1
,138
,925
) (1
,153
,900
) (3
82,3
98)
(1,1
38,9
25)
(1,1
53,9
00)
(382
,398
)
Net C
ash
from
/(us
ed in
) Fin
anci
ng
Activ
ities
(1,2
37,5
51)
(1,1
98,9
00)
189
,507
Net I
ncre
ase/
(Dec
reas
e) in
Cas
h He
ld (7
,056
,774
) (2
4,83
9,50
0) 1
8,14
8,85
2
Cash
and
cas
h eq
uiva
lent
s at
the
Begi
nnin
g of
the
Year
39,
601,
746
37,
033,
000
21,
452,
894
Cash
and
cas
h eq
uiva
lent
s at
the
End
of th
e Ye
ar16
32,
544,
972
12,
193,
500
39,
601,
746
This
Stat
emen
t sho
uld
be re
ad in
con
junc
tion
with
the
acco
mpa
nyin
g no
tes.
59Financial Report
This
Stat
emen
t sho
uld
be re
ad in
con
junc
tion
with
the
acco
mpa
nyin
g no
tes.
Rate
Set
ting
Sta
tem
ent
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
2015
2014
Actu
alAc
tual
Note
$$
Reve
nue
Gene
ral P
urpo
se F
undi
ng 3
,269
,384
2
,013
,669
Go
vern
ance
121
,179
1
85,7
10
Law,
Ord
er a
nd P
ublic
Saf
ety
164
,628
1
80,9
33
Healt
h 7
7,87
0 6
8,20
0 Ed
ucat
ion
and
Wel
fare
1,1
00,9
78
1,0
67,2
90
Com
mun
ity A
men
ities
2,8
17,3
68
2,7
02,4
98
Recr
eatio
n an
d Cu
lture
9,2
22,2
32
9,6
83,6
63
Tran
spor
t 2
,148
,117
2
,238
,260
Ec
onom
ic Se
rvice
s 5
00,5
44
583
,148
Ot
her P
rope
rty a
nd S
ervic
es 2
20,5
30
525
,165
To
tal R
even
ue 1
9,64
2,83
0 1
9,24
8,53
6
Less
: Exp
endi
ture
Gene
ral P
urpo
se F
undi
ng (5
75,7
35)
(608
,279
)Go
vern
ance
(1,7
80,6
03)
(1,7
64,0
89)
Law,
Ord
er a
nd P
ublic
Saf
ety
(1,4
35,8
64)
(1,4
12,3
62)
Healt
h (5
68,0
40)
(460
,029
)Ed
ucat
ion
and
Wel
fare
(1,7
47,5
81)
(1,6
59,5
15)
Com
mun
ity A
men
ities
(5,8
80,6
41)
(5,5
52,4
12)
Recr
eatio
n an
d Cu
lture
(17,
754,
946)
(17,
881,
697)
Tran
spor
t (8
,221
,307
) (7
,421
,102
)Ec
onom
ic Se
rvice
s (5
51,2
12)
(598
,783
)Ot
her P
rope
rty a
nd S
ervic
es (2
,601
,923
) (2
,336
,557
)To
tal E
xpen
ditu
re (4
1,11
7,85
2) (3
9,69
4,82
5)
Net
(21,
475,
022)
(20,
446,
289)
Add
Non
Cash
Exp
endi
ture
Prov
ision
for E
mpl
oyee
Ent
itlem
ents
(Non
Cur
rent
) (5
,375
) 6
6,85
9 Ad
just
men
t def
erre
d ra
tes
(Non
Cur
rent
) 3
5,40
1 7
,337
De
prec
iatio
n4
6,9
08,0
16
6,5
00,7
07
Inte
rest
Cap
italis
ed A
gain
st L
and
(Sou
thpo
rt) 3
4,17
7 3
9,10
5 6
,972
,219
6
,614
,008
2015
2014
Actu
alAc
tual
Note
$$
Less
Cap
ital P
rogr
amPu
rcha
se o
f Lan
d -
-
Pu
rcha
se o
f Bui
ldin
gs (9
62,1
62)
(1,0
87,3
04)
Purc
hase
of F
urni
ture
and
Equ
ipm
ent
(643
,733
) (1
,139
,178
)Pu
rcha
se o
f Plan
t and
Equ
ipm
ent
(637
,107
) (6
76,3
99)
Purc
hase
of I
nfra
stru
ctur
e -
Par
ks a
nd R
eser
ves
(1,8
87,6
93)
(3,8
82,2
92)
- R
oads
and
Lan
es (1
,830
,345
) (2
,411
,128
) -
Dra
inag
e (7
09,9
78)
(279
,277
) -
Foo
tpat
hs (1
,604
,368
) (6
80,6
08)
- B
us S
helte
r (6
6,64
4) (2
3,18
0) -
Wor
k in
Pro
gres
s (1
7,87
0,41
9) (5
,066
,800
)La
nd D
evel
opm
ent C
osts
Cap
italis
ed (2
6,13
5) (2
15,0
75)
Inve
stm
ent i
n M
inda
rie R
egio
nal C
ounc
il31
(21,
063)
(19,
851)
Repa
ymen
t of D
ebt P
rincip
al (1
,138
,925
) (3
82,3
98)
Tran
sfer
s to
Res
erve
(5,1
72,2
05)
(4,4
53,4
99)
Tran
sfer
s to
End
owm
ent L
ands
Acc
ount
(5,5
12,8
17)
(22,
091,
228)
(38,
083,
594)
(42,
408,
217)
Add:
Cap
ital R
even
ueCo
ntrib
utio
n fo
r the
dev
elop
men
t of a
sset
s 3
,431
,321
2
,280
,114
Pr
ocee
ds fr
om s
ale o
f ass
ets
4,9
47,9
46
21,
777,
992
Repa
ymen
t of i
nves
tmen
t in
Tam
ala P
ark
31 2
,583
,334
8
33,3
32
10,
962,
601
24,
891,
438
Plus
: Fun
ding
Sou
rces
Tran
sfer
from
Res
erve
Fun
ds 3
,444
,942
5
,013
,440
Tr
ansf
er fr
om E
ndow
men
t Lan
ds A
ccou
nt
16,
097,
285
3,9
82,1
49
Loan
s12
-
600
,000
Op
enin
g Fu
nds
3,5
22,8
97
4,2
74,0
54
Less
: Clo
sing
Fund
s (3
,636
,000
) (3
,522
,897
) 1
9,42
9,12
4 1
0,34
6,74
6
Amou
nt R
equi
red
to b
e Ra
ised
from
Rat
es (2
2,19
4,67
2) (2
1,00
2,31
5)
60 Town of Cambridge Annual Report 2014-15
61Financial Report
1.
SIG
NIF
ICA
NT
ACC
OU
NTI
NG
PO
LICI
ES(a
) Ba
sis
of P
repa
rati
on
The
fina
ncia
l rep
ort c
ompr
ises
gen
eral
pur
pose
fina
ncia
l sta
tem
ents
whi
ch
has
been
pre
pare
d in
acc
orda
nce
wit
h A
ustr
alia
n A
ccou
ntin
g St
anda
rds
(as
they
app
ly to
loca
l gov
ernm
ents
and
not
for
pro
fit e
ntit
ies)
, Aus
tral
ian
Acc
ount
ing
Inte
rpre
tati
ons,
oth
er a
utho
rita
tive
pro
noun
cem
ents
of
the
Aus
tral
ian
Acc
ount
ing
Stan
dard
s B
oard
, the
Loc
al G
over
nmen
t Act
19
95
and
ac
com
pany
ing
regu
lati
ons.
Mat
eria
l acc
ount
ing
polic
ies
whi
ch h
ave
been
ad
opte
d in
pre
para
tion
of
this
fina
ncia
l rep
ort a
re p
rese
nted
bel
ow a
nd h
ave
been
con
sist
entl
y ap
plie
d un
less
sta
ted
othe
rwis
e.
Exce
pt f
or c
ash
flow
and
rate
set
ting
sta
tem
ent i
nfor
mat
ion,
the
repo
rt h
as
been
pre
pare
d on
the
accr
ual b
asis
and
is b
ased
on
hist
oric
al c
osts
, mod
ified
, w
here
app
licab
le, b
y th
e m
easu
rem
ent a
t fai
r val
ue o
f se
lect
ed n
on-c
urre
nt
asse
ts, fi
nanc
ial a
sset
s an
d lia
bilit
ies.
Cr
itic
al A
ccou
ntin
g Es
tim
ates
Th
e pr
epar
atio
n of
a fi
nanc
ial r
epor
t in
conf
orm
ity
wit
h A
ustr
alia
n A
ccou
ntin
g St
anda
rds
requ
ires
man
agem
ent t
o m
ake
judg
emen
ts, e
stim
ates
and
as
sum
ptio
ns th
at a
ffec
t the
app
licat
ion
of p
olic
ies
and
repo
rted
am
ount
s of
as
sets
and
liab
iliti
es, i
ncom
e an
d ex
pens
es.
Th
e es
tim
ates
and
ass
ocia
ted
assu
mpt
ions
are
bas
ed o
n hi
stor
ical
exp
erie
nce
and
vari
ous
othe
r fac
tors
that
are
bel
ieve
d to
be
reas
onab
le u
nder
the
circ
umst
ance
s; th
e re
sult
s of
whi
ch f
orm
the
basi
s of
mak
ing
judg
emen
ts
abou
t car
ryin
g va
lues
of
asse
ts a
nd li
abili
ties
that
are
not
read
ily a
ppar
ent f
rom
ot
her s
ourc
es.
Act
ual r
esul
ts m
ay d
iffe
r fro
m th
ese
esti
mat
es.
(b)
The
Loca
l Gov
ernm
ent R
epor
ting
Ent
ity
All
Fund
s th
roug
h w
hich
the
Tow
n co
ntro
ls re
sour
ces
to c
arry
on
its
func
tion
s ha
ve b
een
incl
uded
in th
e fi
nanc
ial s
tate
men
ts f
orm
ing
part
of
this
fina
ncia
l re
port
.
In th
e pr
oces
s of
repo
rtin
g on
the
loca
l gov
ernm
ent a
s a
sing
le u
nit,
all
tran
sact
ions
and
bal
ance
s be
twee
n th
ose
Fund
s (f
or e
xam
ple,
loan
s an
d tr
ansf
ers
betw
een
Fund
s) h
ave
been
elim
inat
ed.
All
mon
ies
held
in th
e Tr
ust F
und
are
excl
uded
fro
m th
e fi
nanc
ial s
tate
men
ts.
A s
epar
ate
stat
emen
t of
thos
e m
onie
s ap
pear
s at
Not
e 2
4 o
f th
ese
fina
ncia
l st
atem
ents
.
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
(c)
Goo
ds a
nd S
ervi
ces
Tax
Reve
nues
, exp
ense
s an
d as
sets
are
reco
gniz
ed n
et o
f th
e am
ount
GST
, exc
ept
whe
re th
e am
ount
of
GST
incu
rred
is n
ot re
cove
rabl
e fr
om th
e A
ustr
alia
n Ta
xati
on O
ffice
(AT
O).
Rece
ivab
les
or p
ayab
les
are
stat
ed in
clus
ive
of G
ST re
ceiv
able
or p
ayab
le.
The
net a
mou
nt o
f G
ST re
cove
rabl
e fr
om o
r pay
able
to th
e AT
O is
incl
uded
wit
h re
ceiv
able
s or
pay
able
s in
the
stat
emen
t of
fina
ncia
l pos
itio
n.
Cash
flow
s ar
e pr
esen
ted
on a
gro
ss b
asis
. Th
e G
ST c
ompo
nent
s of
cas
h fl
ows
aris
ing
from
inve
stin
g or
fina
ncin
g ac
tivi
ties
whi
ch a
re re
cove
rabl
e fr
om, o
r pa
yabl
e to
, the
ATO
are
pre
sent
ed a
s op
erat
ing
cash
flow
s.
(d)
Prop
erty
, Pla
nt a
nd E
quip
men
t
Ea
ch c
lass
of
fixe
d as
sets
wit
hin
eith
er p
rope
rty,
pla
nt a
nd e
quip
men
t or
infr
astr
uctu
re is
car
ried
at c
ost o
r fai
r val
ue a
s in
dica
ted,
whe
re a
pplic
able
, any
ac
cum
ulat
ed d
epre
ciat
ion
and
impa
irm
ent l
osse
s.
(i)
Capi
talis
atio
n of
Non
-Cur
rent
Ass
ets
Fi
xed
asse
ts o
ther
than
infr
astr
uctu
re a
sset
s ar
e ca
pita
lised
if th
e co
st
exce
eds
$1
,00
0.
Infr
astr
uctu
re a
sset
s ar
e ca
pita
lised
if th
e co
st o
r va
luat
ion
exce
eds
the
follo
win
g fo
r eac
h ty
pe o
f in
fras
truc
ture
.
Park
s an
d Re
serv
es
$1
0,0
00
Road
s an
d La
nes
$1
0,0
00
Dra
inag
e $
10
,00
0
Foot
path
s $
2,0
00
Bus
She
lter
s $
2,0
00
Und
erpa
sses
$
10
,00
0
The
Chie
f Ex
ecut
ive
Offi
cer o
r nom
inee
has
dis
cret
ion
to c
apit
alis
e as
sets
w
ith
a va
lue
of $
1,0
00
or l
ess
havi
ng re
gard
to th
e na
ture
of
the
item
.
62 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
1.
SIG
NIF
ICA
NT
ACC
OU
NTI
NG
PO
LICI
ES (
cont
inue
d)
(ii)
Pr
oper
ty, P
lant
and
Equ
ipm
ent a
nd In
fras
truc
ture
All
asse
ts a
re in
itia
lly re
cogn
ised
at c
ost.
Cos
t is
dete
rmin
ed a
s th
e fa
ir
valu
e of
the
asse
ts g
iven
as
cons
ider
atio
n pl
us c
osts
inci
dent
al to
the
acqu
isit
ion.
For
ass
ets
acqu
ired
at n
o co
st o
r for
nom
inal
con
side
rati
on,
cost
is d
eter
min
ed a
s fa
ir v
alue
at t
he d
ate
of a
cqui
siti
on.
The
cost
of
non
-cur
rent
ass
ets
cons
truc
ted
by th
e To
wn
incl
udes
the
cost
of
all m
ater
ials
use
d in
con
stru
ctio
n, d
irec
t lab
our o
n th
e pr
ojec
t and
an
appr
opri
ate
prop
orti
on o
f va
riab
le a
nd fi
xed
over
head
.
(iii
) D
epre
ciat
ion
The
depr
ecia
ble
amou
nt o
f al
l fixe
d as
sets
incl
udin
g bu
ildin
gs b
ut
excl
udin
g fr
eeho
ld la
nd, a
re d
epre
ciat
ed o
n a
stra
ight
line
bas
is o
ver
the
indi
vidu
al a
sset
’s u
sefu
l lif
e fr
om th
e ti
me
the
asse
t is
held
read
y fo
r use
. Le
aseh
old
impr
ovem
ents
are
dep
reci
ated
ove
r the
sho
rter
of
eith
er th
e un
expi
red
peri
od o
f th
e le
ase
or th
e es
tim
ated
use
ful l
ife
of
impr
ovem
ents
.
Whe
n an
item
of
prop
erty
, pla
nt a
nd e
quip
men
t is
reva
lued
, any
ac
cum
ulat
ed d
epre
ciat
ion
at th
e da
te o
f re
valu
atio
n is
trea
ted
in o
ne o
f th
e fo
llow
ing
way
s:
(a)
Rest
ated
pro
port
iona
tely
wit
h th
e ch
ange
in th
e gr
oss
carr
ying
am
ount
of
the
asse
t so
that
the
carr
ying
am
ount
of
the
asse
t aft
er
reva
luat
ion
equa
ls it
s re
valu
ed a
mou
nt; o
r
(b)
Elim
inat
ed a
gain
st th
e gr
oss
carr
ying
am
ount
of
the
asse
t and
the
net a
mou
nt re
stat
ed to
the
reva
lued
am
ount
of
the
asse
t.
Maj
or d
epre
ciat
ion
peri
ods
used
for
eac
h cl
ass
of d
epre
ciat
ion
asse
ts a
re:
CATE
GO
RYU
SEFU
L LI
FED
EPRE
CIAT
ION
RATE
Bui
ldin
gs2
5-5
0 Y
ears
4%
-2%
Offi
ce F
urni
ture
and
Equ
ipm
ent
3-1
0 Y
ears
33
.3%
-10
%Pl
ant a
nd E
quip
men
t3
-10
Yea
rs3
3.3
%-1
0%
Infr
astr
uctu
re-
Park
s an
d Re
serv
es
10
-40
Yea
rs1
0%
-2.5
%-
Road
s an
d La
nes
10
-80
Yea
rs1
0%
-1.2
5%
- D
rain
age
30
-10
0 Y
ears
3.3
%-1
%-
Foot
path
s1
5-8
0 Y
ears
6.6
%-1
.25
%-
Bus
She
lter
s1
5-5
0 Y
ears
6.6
%-2
%
The
asse
t’s
resi
dual
val
ues
and
usef
ul li
ves
are
revi
ewed
and
adj
uste
d if
ap
prop
riat
e, a
t the
end
of
each
repo
rtin
g pe
riod
.
An
asse
t’s
carr
ying
am
ount
is w
ritt
en d
own
imm
edia
tely
to it
s re
cove
rabl
e am
ount
if th
e as
set’
s ca
rryi
ng a
mou
nt is
gre
ater
than
its
esti
mat
ed re
cove
rabl
e am
ount
.
Gai
ns a
nd lo
sses
on
disp
osal
s ar
e de
term
ined
by
com
pari
ng p
roce
eds
wit
h th
e ca
rryi
ng a
mou
nt.
Thes
e ga
ins
and
loss
es a
re in
clud
ed in
the
Stat
emen
t of
Com
preh
ensi
ve In
com
e in
the
peri
od in
whi
ch th
ey a
rise
.
Whe
n re
valu
ed a
sset
s ar
e di
spos
ed o
f, am
ount
s in
clud
ed in
the
reva
luat
ion
surp
lus
rela
ting
to th
at a
sset
are
tran
sfer
red
to re
tain
ed
surp
lus.
(iv)
M
anda
tory
Req
uire
men
t to
Reva
lue
Non
-Cur
rent
Ass
ets
Effe
ctiv
e fr
om 1
Jul
y 2
01
2, t
he L
ocal
Gov
ernm
ent (
Fina
ncia
l M
anag
emen
t) R
egul
atio
ns w
ere
amen
ded
and
the
mea
sure
men
t of
non-
curr
ent a
sset
s at
Fai
r Val
ue b
ecam
e m
anda
tory
.
The
amen
dmen
ts a
llow
for
a p
hasi
ng in
of
fair
val
ue in
rela
tion
to fi
xed
asse
ts o
ver t
hree
yea
rs a
s fo
llow
s:
(a)
fo
r the
fina
ncia
l yea
r end
ing
on 3
0 J
une
20
13, t
he f
air v
alue
of
all
of th
e as
sets
of
the
loca
l gov
ernm
ent t
hat a
re p
lant
and
equ
ipm
ent;
an
d
(b)
fo
r the
fina
ncia
l yea
r end
ing
on 3
0 J
une
20
14, t
he f
air v
alue
of
all
of th
e as
sets
of
the
loca
l gov
ernm
ent t
hat a
re –
(i)
land
and
bui
ldin
gs; o
r
(ii)
infr
astr
uctu
re;
and
(c)
fo
r a fi
nanc
ial y
ear e
ndin
g on
or a
fter
30
Jun
e 2
01
5, t
he f
air v
alue
of
all
of th
e as
sets
of
the
loca
l gov
ernm
ent.
Ther
eaft
er, i
n ac
cord
ance
wit
h th
e re
gula
tion
s, e
ach
asse
t cla
ss m
ust b
e re
valu
ed a
t lea
st e
very
3 y
ears
.
In 2
013
, Tow
n co
mm
ence
d th
e pr
oces
s of
ado
ptin
g Fa
ir V
alue
in
acco
rdan
ce w
ith
the
Regu
lati
ons.
Rele
vant
dis
clos
ures
, in
acco
rdan
ce w
ith
the
requ
irem
ents
of
Aus
tral
ian
Acc
ount
ing
Stan
dard
s, h
ave
been
mad
e in
the
fina
ncia
l rep
ort a
s ne
cess
ary.
63Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
1.
SIG
NIF
ICA
NT
ACC
OU
NTI
NG
PO
LICI
ES (
cont
inue
d)
(v)
Land
Und
er C
ontr
ol
In a
ccor
danc
e w
ith
Loca
l Gov
ernm
ent (
Fina
ncia
l Man
agem
ent)
Re
gula
tion
16
(a),
the
Tow
n w
as re
quir
ed to
incl
ude
as a
n as
set (
by 3
0
June
20
13),
Cro
wn
Land
ope
rate
d by
the
loca
l gov
ernm
ent a
s a
golf
co
urse
, sho
wgr
ound
, rac
ecou
rse
or o
ther
spo
rtin
g or
recr
eati
onal
fac
ility
of
Sta
te o
r reg
iona
l sig
nifi
canc
e. T
own
has
no s
uch
asse
ts o
n Cr
own
Land
w
ith
the
Wem
bley
Gol
f Co
urse
ow
ned
free
hold
.
(vi)
In
itia
l Rec
ogni
tion
and
Mea
sure
men
t bet
wee
n m
anda
tory
reva
luat
ion
date
s
All
asse
ts a
re in
itia
lly re
cogn
ised
at c
ost a
nd s
ubse
quen
tly
reva
lued
in
acc
orda
nce
wit
h th
e m
anda
tory
mea
sure
men
t fra
mew
ork
deta
iled
abov
e.
In re
lati
on to
this
init
ial m
easu
rem
ent,
cos
t is
dete
rmin
ed a
s th
e fa
ir
valu
e of
the
asse
ts g
iven
as
cons
ider
atio
n pl
us c
osts
inci
dent
al to
the
acqu
isit
ion.
For
ass
ets
acqu
ired
at n
o co
st o
r for
nom
inal
con
side
rati
on,
cost
is d
eter
min
ed a
s fa
ir v
alue
at t
he d
ate
of a
cqui
siti
on.
The
cost
of
non
-cur
rent
ass
ets
cons
truc
ted
by th
e To
wn
incl
udes
the
cost
of
all m
ater
ials
use
d in
con
stru
ctio
n, d
irec
t lab
our o
n th
e pr
ojec
t and
an
appr
opri
ate
prop
orti
on o
f va
riab
le a
nd fi
xed
over
head
s.
Indi
vidu
al a
sset
s ac
quir
ed b
etw
een
init
ial r
ecog
niti
on a
nd th
e ne
xt
reva
luat
ion
of th
e as
set c
lass
in a
ccor
danc
e w
ith
the
man
dato
ry
mea
sure
men
t fra
mew
ork
deta
iled
abov
e, a
re c
arri
ed a
t cos
t les
s ac
cum
ulat
ed d
epre
ciat
ion
as m
anag
emen
t bel
ieve
s th
is a
ppro
xim
ates
fa
ir v
alue
. Th
ey w
ill b
e su
bjec
t to
subs
eque
nt re
valu
atio
n at
the
next
an
nive
rsar
y da
te in
acc
orda
nce
wit
h th
e m
anda
tory
mea
sure
men
t fr
amew
ork
deta
iled
abov
e.
(vii)
Re
valu
atio
n
Incr
ease
s in
the
carr
ying
am
ount
ari
sing
on
reva
luat
ion
of a
sset
s ar
e cr
edit
ed to
a re
valu
atio
n su
rplu
s in
equ
ity.
Dec
reas
es th
at o
ffse
t pre
viou
s in
crea
ses
of th
e sa
me
asse
t are
reco
gnis
ed a
gain
st th
e re
valu
atio
n su
rplu
s di
rect
ly in
equ
ity.
All
othe
r dec
reas
es a
re re
cogn
ised
in p
rofi
t or
loss
.
(e)
Inta
ngib
le A
sset
s
Ea
sem
ents
Regu
lati
on 1
6 o
f th
e Lo
cal G
over
nmen
t (Fi
nanc
ial M
anag
emen
t) R
egul
atio
ns
19
96
requ
ires
eas
emen
ts to
be
reco
gnis
ed a
s as
sets
.
The
Tow
n ha
s de
term
ined
that
und
er A
ASB
13
8 In
tang
ible
Ass
ets,
eas
emen
ts
are
valu
ed o
n a
hist
oric
al b
asis
, bec
ause
it is
unl
ikel
y th
at a
n ac
tive
mar
ket
in e
asem
ents
exi
sts
to a
llow
for
fai
r val
ue m
easu
rem
ent.
Due
to a
cqui
siti
on
of e
asem
ents
at n
il va
lues
, no
ease
men
ts h
ave
been
incl
uded
in th
e fi
nanc
ial
repo
rt.
(f)
Land
Und
er R
oads
In
Wes
tern
Aus
tral
ia, a
ll la
nd u
nder
road
s is
Cro
wn
land
, the
resp
onsi
bilit
y fo
r m
anag
ing
this
is v
este
d in
the
loca
l gov
ernm
ent.
Ef
fect
ive
as a
t 1 J
uly
20
08
, Tow
n el
ecte
d no
t to
reco
gnis
e an
y va
lue
for l
and
unde
r roa
ds a
cqui
red
on o
r bef
ore
30
Jun
e 2
00
8.
This
acc
ords
wit
h th
e tr
eatm
ent a
vaila
ble
in A
ustr
alia
n A
ccou
ntin
g St
anda
rd A
ASB
10
51
Lan
d U
nder
Ro
ads
and
the
fact
Loc
al G
over
nmen
t (Fi
nanc
ial M
anag
emen
t) R
egul
atio
n 16
(a
)(i)
pro
hibi
ts lo
cal g
over
nmen
ts f
rom
reco
gnis
ing
such
land
as
an a
sset
.
In
resp
ect o
f la
nd u
nder
road
s ac
quir
ed o
n or
aft
er 1
Jul
y 2
00
8, a
s de
taile
d ab
ove,
Loc
al G
over
nmen
t (Fi
nanc
ial M
anag
emen
t) R
egul
atio
n 16
(a)(
i)
proh
ibit
s lo
cal g
over
nmen
ts f
rom
reco
gnis
ing
such
land
as
an a
sset
.
W
hils
t suc
h tr
eatm
ent i
s in
cons
iste
nt w
ith
the
requ
irem
ents
of
AA
SB 1
05
1,
Loca
l Gov
ernm
ent (
Fina
ncia
l Man
agem
ent)
Reg
ulat
ion
4(2
) pr
ovid
es, i
n th
e ev
ent o
f su
ch a
n in
cons
iste
ncy,
the
Loca
l Gov
ernm
ent (
Fina
ncia
l Man
agem
ent)
Re
gula
tion
s pr
evai
l.
Co
nseq
uent
ly, a
ny la
nd u
nder
road
s ac
quir
ed o
n or
aft
er 1
Jul
y 2
00
8 is
not
in
clud
ed a
s an
ass
et o
f th
e To
wn.
64 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
1.
SIG
NIF
ICA
NT
ACC
OU
NTI
NG
PO
LICI
ES (
cont
inue
d)
(g)
Fair
Val
ue o
f A
sset
s an
d Li
abili
ties
W
hen
perf
orm
ing
a re
valu
atio
n, th
e To
wn
uses
a m
ix o
f bo
th in
depe
nden
t and
m
anag
emen
t val
uati
ons
usin
g th
e fo
llow
ing
as a
gui
de:
Fair
Val
ue is
the
pric
e th
at T
own
wou
ld re
ceiv
e to
sel
l the
ass
et o
r wou
ld
have
to p
ay to
tran
sfer
a li
abili
ty, i
n an
ord
erly
(ie
unf
orce
d) tr
ansa
ctio
n be
twee
n in
depe
nden
t, k
now
ledg
eabl
e an
d w
illin
g m
arke
t par
tici
pant
s at
the
mea
sure
men
t dat
e.
A
s fa
ir v
alue
is a
mar
ket-
base
d m
easu
re, t
he c
lose
st e
quiv
alen
t obs
erva
ble
mar
ket p
rici
ng in
form
atio
n is
use
d to
det
erm
ine
fair
val
ue. A
djus
tmen
ts to
m
arke
t val
ues
may
be
mad
e ha
ving
rega
rd to
the
char
acte
rist
ics
of th
e sp
ecifi
c as
set.
The
fair
val
ues
of a
sset
s th
at a
re n
ot tr
aded
in a
n ac
tive
mar
ket a
re
dete
rmin
ed u
sing
one
or m
ore
valu
atio
n te
chni
ques
. The
se v
alua
tion
tech
niqu
es
max
imis
e, to
the
exte
nt p
ossi
ble,
the
use
of o
bser
vabl
e m
arke
t dat
a.
To
the
exte
nt p
ossi
ble,
mar
ket i
nfor
mat
ion
is e
xtra
cted
fro
m e
ithe
r the
pri
ncip
al
mar
ket f
or th
e as
set o
r lia
bilit
y (i
.e. t
he m
arke
t wit
h th
e gr
eate
st v
olum
e an
d le
vel
of a
ctiv
ity
for t
he a
sset
or l
iabi
lity)
or,
in th
e ab
senc
e of
suc
h a
mar
ket,
the
mos
t ad
vant
ageo
us m
arke
t ava
ilabl
e to
the
enti
ty a
t the
end
of
the
repo
rtin
g pe
riod
(i
.e. t
he m
arke
t tha
t max
imis
es th
e re
ceip
ts f
rom
the
sale
of
the
asse
t aft
er
taki
ng in
to a
ccou
nt tr
ansa
ctio
n co
sts
and
tran
spor
t cos
ts).
Fo
r non
-fina
ncia
l ass
ets,
the
fair
val
ue m
easu
rem
ent a
lso
take
s in
to a
ccou
nt a
m
arke
t par
tici
pant
’s a
bilit
y to
use
the
asse
t in
its
high
est a
nd b
est u
se o
r to
sell
it to
ano
ther
mar
ket p
arti
cipa
nt th
at w
ould
use
the
asse
t in
its
high
est a
nd b
est
use.
Fa
ir V
alue
Hie
rarc
hy
A
ASB
13
requ
ires
the
disc
losu
re o
f fa
ir v
alue
info
rmat
ion
by le
vel o
f th
e fa
ir
valu
e hi
erar
chy,
whi
ch c
ateg
oris
es f
air v
alue
mea
sure
men
t int
o on
e of
thre
e po
ssib
le le
vels
bas
ed o
n th
e lo
wes
t lev
el th
at a
n in
put t
hat i
s si
gnifi
cant
to th
e m
easu
rem
ent c
an b
e ca
tego
rise
d in
to a
s fo
llow
s:
Le
vel 1
Mea
sure
men
ts b
ased
on
quot
ed p
rice
s (u
nadj
uste
d) in
act
ive
mar
kets
for
id
enti
cal a
sset
s or
liab
iliti
es th
at th
e en
tity
can
acc
ess
at th
e m
easu
rem
ent
date
.
Le
vel 2
Mea
sure
men
ts b
ased
on
inpu
ts o
ther
than
quo
ted
pric
es in
clud
ed in
Lev
el 1
th
at a
re o
bser
vabl
e fo
r the
ass
et o
r lia
bilit
y, e
ithe
r dir
ectl
y or
indi
rect
ly.
Le
vel 3
Mea
sure
men
ts b
ased
on
unob
serv
able
inpu
ts f
or th
e as
set o
r lia
bilit
y.
The
fair
val
ues
of a
sset
s an
d lia
bilit
ies
that
are
not
trad
ed in
an
acti
ve m
arke
t ar
e de
term
ined
usi
ng o
ne o
r mor
e va
luat
ion
tech
niqu
es. T
hese
val
uati
on
tech
niqu
es m
axim
ise,
to th
e ex
tent
pos
sibl
e, th
e us
e of
obs
erva
ble
mar
ket
data
. If
all s
igni
fica
nt in
puts
requ
ired
to m
easu
re f
air v
alue
are
obs
erva
ble,
the
asse
t or l
iabi
lity
is in
clud
ed in
Lev
el 2
. If
one
or m
ore
sign
ifica
nt in
puts
are
not
ba
sed
on o
bser
vabl
e m
arke
t dat
a, th
e as
set o
r lia
bilit
y is
incl
uded
in L
evel
3.
Va
luat
ion
tech
niqu
es
Th
e To
wn
sele
cts
a va
luat
ion
tech
niqu
e th
at is
app
ropr
iate
in th
e ci
rcum
stan
ces
and
for w
hich
suf
fici
ent d
ata
is a
vaila
ble
to m
easu
re f
air v
alue
. The
ava
ilabi
lity
of s
uffi
cien
t and
rele
vant
dat
a pr
imar
ily d
epen
ds o
n th
e sp
ecifi
c ch
arac
teri
stic
s of
the
asse
t or l
iabi
lity
bein
g m
easu
red.
The
val
uati
on te
chni
ques
sel
ecte
d by
the
Tow
n ar
e co
nsis
tent
wit
h on
e or
mor
e of
the
follo
win
g va
luat
ion
appr
oach
es:
M
arke
t app
roac
h
Valu
atio
n te
chni
ques
that
use
pri
ces
and
othe
r rel
evan
t inf
orm
atio
n ge
nera
ted
by m
arke
t tra
nsac
tion
s fo
r ide
ntic
al o
r sim
ilar a
sset
s or
liab
iliti
es.
Inco
me
appr
oach
Valu
atio
n te
chni
ques
that
con
vert
est
imat
ed f
utur
e ca
sh fl
ows
or in
com
e an
d ex
pens
es in
to a
sin
gle
disc
ount
ed p
rese
nt v
alue
.
65Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
1.
SIG
NIF
ICA
NT
ACC
OU
NTI
NG
PO
LICI
ES (
cont
inue
d)
Cost
app
roac
h
Valu
atio
n te
chni
ques
that
refl
ect t
he c
urre
nt re
plac
emen
t cos
t of
an a
sset
at i
ts
curr
ent s
ervi
ce c
apac
ity.
Ea
ch v
alua
tion
tech
niqu
e re
quir
es in
puts
that
refl
ect t
he a
ssum
ptio
ns th
at
buye
rs a
nd s
elle
rs w
ould
use
whe
n pr
icin
g th
e as
set o
r lia
bilit
y, in
clud
ing
assu
mpt
ions
abo
ut ri
sks.
Whe
n se
lect
ing
a va
luat
ion
tech
niqu
e, th
e To
wn
give
s pr
iori
ty to
thos
e te
chni
ques
that
max
imis
e th
e us
e of
obs
erva
ble
inpu
ts
and
min
imis
e th
e us
e of
uno
bser
vabl
e in
puts
. Inp
uts
that
are
dev
elop
ed u
sing
m
arke
t dat
a (s
uch
as p
ublic
ly a
vaila
ble
info
rmat
ion
on a
ctua
l tra
nsac
tion
s)
and
refl
ect t
he a
ssum
ptio
ns th
at b
uyer
s an
d se
llers
wou
ld g
ener
ally
use
whe
n pr
icin
g th
e as
set o
r lia
bilit
y an
d co
nsid
ered
obs
erva
ble,
whe
reas
inpu
ts f
or
whi
ch m
arke
t dat
a is
not
ava
ilabl
e an
d th
eref
ore
are
deve
lope
d us
ing
the
best
in
form
atio
n av
aila
ble
abou
t suc
h as
sum
ptio
ns a
re c
onsi
dere
d un
obse
rvab
le.
A
s de
taile
d ab
ove,
the
man
dato
ry m
easu
rem
ent f
ram
ewor
k im
pose
d by
th
e Lo
cal G
over
nmen
t (Fi
nanc
ial M
anag
emen
t) R
egul
atio
ns re
quir
es, a
s a
min
imum
, all
asse
ts c
arri
ed a
t a re
valu
ed a
mou
nt to
be
reva
lued
at l
east
eve
ry 3
ye
ars.
(h)
Rate
s, G
rant
s, D
onat
ions
and
Oth
er C
ontr
ibut
ions
Rate
s, g
rant
s, d
onat
ions
and
oth
er c
ontr
ibut
ions
are
reco
gnis
ed a
s re
venu
es
whe
n th
e To
wn
obta
ins
cont
rol o
ver t
he a
sset
s co
mpr
isin
g th
e co
ntri
buti
ons.
Cont
rol o
ver a
sset
s ac
quir
ed f
rom
rate
s is
obt
aine
d at
the
com
men
cem
ent o
f th
e ra
ting
per
iod
or, w
here
ear
lier,
upon
rece
ipt o
f ra
tes.
Whe
re c
ontr
ibut
ions
re
cogn
ised
as
reve
nues
dur
ing
the
repo
rtin
g pe
riod
wer
e ob
tain
ed o
n th
e co
ndit
ion
that
they
are
to b
e ex
pend
ed in
a p
arti
cula
r man
ner o
r use
d ov
er a
pa
rtic
ular
per
iod,
and
thos
e co
ndit
ions
wer
e un
disc
harg
ed a
s at
the
repo
rtin
g da
te, t
he n
atur
e of
and
am
ount
s pe
rtai
ning
to th
ose
undi
scha
rged
con
diti
ons
are
disc
lose
d in
the
note
s ac
com
pany
ing
the
fina
ncia
l rep
ort.
Thes
e no
tes
also
dis
clos
e th
e am
ount
of
cont
ribu
tion
s re
cogn
ised
as
reve
nues
in
a p
revi
ous
repo
rtin
g pe
riod
whi
ch w
ere
obta
ined
in re
spec
t of
the
Tow
n’s
oper
atio
ns f
or th
e cu
rren
t rep
orti
ng p
erio
d.
(i)
Cash
and
Cas
h Eq
uiva
lent
s
Cash
and
cas
h eq
uiva
lent
s in
clud
e ca
sh o
n ha
nd, c
ash
at b
ank,
dep
osit
s av
aila
ble
on d
eman
d w
ith
bank
s an
d ot
her s
hort
term
hig
hly
liqui
d in
vest
men
ts
that
are
read
ily c
onve
rtib
le to
kno
wn
amou
nts
of c
ash
and
whi
ch a
re s
ubje
ct to
an
insi
gnifi
cant
risk
of
chan
ges
in v
alue
and
ban
k ov
erdr
afts
.
Ban
k ov
erdr
afts
are
repo
rted
as
shor
t ter
m b
orro
win
gs in
cur
rent
liab
iliti
es in
th
e st
atem
ent o
f fi
nanc
ial p
osit
ion.
(j)
Inve
ntor
ies
G
ener
al
Inve
ntor
ies
are
mea
sure
d at
the
low
er o
f co
st a
nd n
et re
alis
able
val
ue.
Net
real
isab
le v
alue
is th
e es
tim
ated
sel
ling
pric
e in
the
ordi
nary
cou
rse
of
busi
ness
less
the
esti
mat
ed c
osts
of
com
plet
ion
and
the
esti
mat
ed c
osts
ne
cess
ary
to m
ake
the
sale
.
La
nd H
eld
for R
esal
e
La
nd h
eld
for d
evel
opm
ent a
nd s
ale
is v
alue
d at
the
low
er o
f co
st a
nd n
et
real
isab
le v
alue
. Co
st in
clud
es th
e co
st o
f ac
quis
itio
n, d
evel
opm
ent,
bor
row
ing
cost
s an
d ho
ldin
g co
sts
unti
l com
plet
ion
of d
evel
opm
ent.
Fin
ance
cos
ts
and
hold
ing
char
ges
incu
rred
aft
er d
evel
opm
ent i
s co
mpl
eted
are
exp
ense
d.
Gai
ns a
nd lo
sses
are
reco
gnis
ed in
pro
fit o
r los
s at
the
tim
e of
sig
ning
an
unco
ndit
iona
l con
trac
t of
sale
if s
igni
fica
nt ri
sks
and
rew
ards
, and
eff
ecti
ve
cont
rol o
ver t
he la
nd, a
re p
asse
d on
to th
e bu
yer a
t thi
s po
int.
Land
hel
d fo
r res
ale
is c
lass
ified
as
curr
ent e
xcep
t whe
re it
is h
eld
as n
on-
curr
ent b
ased
on
Tow
n’s
inte
ntio
ns to
rele
ase
for s
ale.
(k)
Fina
ncia
l Ins
trum
ents
Init
ial R
ecog
niti
on a
nd M
easu
rem
ent
Fina
ncia
l ass
ets
and
fina
ncia
l lia
bilit
ies
are
reco
gnis
ed w
hen
the
Tow
n be
com
es
a pa
rty
to th
e co
ntra
ctua
l pro
visi
ons
to th
e in
stru
men
t. F
or fi
nanc
ial a
sset
s,
this
is e
quiv
alen
t to
the
date
that
the
Tow
n co
mm
its
itse
lf to
eit
her t
he
purc
hase
or t
he s
ale
of th
e as
set (
i.e. t
rade
dat
e ac
coun
ting
is a
dopt
ed).
Fina
ncia
l ins
trum
ents
are
init
ially
mea
sure
d at
fai
r val
ue p
lus
tran
sact
ion
cost
s,
exce
pt w
here
the
inst
rum
ent i
s cl
assi
fied
‘at f
air v
alue
thro
ugh
profi
t of
loss
’, in
w
hich
cas
e tr
ansa
ctio
n co
sts
are
expe
nsed
to p
rofi
t or l
oss
imm
edia
tely
.
66 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
1.
SIG
NIF
ICA
NT
ACC
OU
NTI
NG
PO
LICI
ES (
cont
inue
d)
Clas
sifi
cati
on a
nd S
ubse
quen
t Mea
sure
men
t
Fina
ncia
l ins
trum
ents
are
sub
sequ
entl
y m
easu
red
at f
air v
alue
, am
orti
sed
cost
us
ing
the
effe
ctiv
e in
tere
st ra
te m
etho
d, o
r cos
t.
Am
orti
sed
cost
is c
alcu
late
d as
:
(a)
the
amou
nt a
t whi
ch th
e fi
nanc
ial a
sset
or fi
nanc
ial l
iabi
lity
is m
easu
red
at in
itia
l rec
ogni
tion
;
(b)
less
pri
ncip
al re
paym
ents
and
any
redu
ctio
n fo
r im
pair
men
t; a
nd
(c)
plus
or m
inus
the
cum
ulat
ive
amor
tisa
tion
of
the
diff
eren
ce, i
f an
y,
betw
een
the
amou
nt in
itia
lly re
cogn
ised
and
the
mat
urit
y am
ount
ca
lcul
ated
usi
ng th
e ef
fect
ive
inte
rest
rate
met
hod.
The
effe
ctiv
e in
tere
st m
etho
d us
ed is
to a
lloca
te in
tere
st in
com
e or
inte
rest
ex
pens
e ov
er th
e re
leva
nt p
erio
d an
d is
equ
ival
ent t
o th
e ra
te th
at d
isco
unts
es
tim
ated
fut
ure
cash
pay
men
ts o
r rec
eipt
s (i
nclu
ding
fee
s, tr
ansa
ctio
n co
sts
and
othe
r pre
miu
ms
or d
isco
unts
) th
roug
h th
e ex
pect
ed li
fe (
or w
hen
this
ca
nnot
be
relia
bly
pred
icte
d, th
e co
ntra
ctua
l ter
m)
of th
e fi
nanc
ial i
nstr
umen
t to
the
net c
arry
ing
amou
nt o
f th
e fi
nanc
ial a
sset
or fi
nanc
ial l
iabi
lity.
Rev
isio
ns
to e
xpec
ted
futu
re n
et c
ash
flow
s w
ill n
eces
sita
te a
n ad
just
men
t to
the
carr
ying
val
ue w
ith
a co
nseq
uent
ial r
ecog
niti
on o
f an
inco
me
or e
xpen
se in
pr
ofit o
r los
s.
(i)
Fina
ncia
l ass
ets
at f
air v
alue
thro
ugh
profi
t and
loss
Fina
ncia
l ass
ets
are
clas
sifi
ed a
t “fa
ir v
alue
thro
ugh
profi
t or l
oss”
whe
n th
ey
are
held
for
trad
ing
for t
he p
urpo
se o
f sh
ort-
term
pro
fit t
akin
g. S
uch
asse
ts a
re
subs
eque
ntly
mea
sure
d at
fai
r val
ue w
ith
chan
ges
in c
arry
ing
amou
nt b
eing
in
clud
ed in
pro
fit o
r los
s.
Ass
ets
in th
is c
ateg
ory
are
clas
sifi
ed a
s cu
rren
t ass
ets.
(ii)
Lo
ans
and
rece
ivab
les
Loan
s an
d re
ceiv
able
s ar
e no
n-de
riva
tive
fina
ncia
l ass
ets
wit
h fi
xed
or
dete
rmin
able
bpa
ymen
ts t
hat
are
not
quo
ted
in a
n a
ctiv
e m
arke
t an
d a
re
subs
eque
ntly
mea
sure
d a
t am
orti
sed
cost
. Gai
ns o
r los
ses
are
reco
gnis
ed in
pr
ofit o
r los
s.
Loan
s an
d re
ceiv
able
s ar
e in
clud
ed in
cur
rent
ass
ets
whe
re th
ey a
re e
xpec
ted
to m
atur
e w
ithi
n 1
2 m
onth
s af
ter t
he e
nd o
f th
e re
port
ing
peri
od.
(iii)
H
eld-
to-m
atur
ity
inve
stm
ents
Hel
d-to
-mat
urit
y in
vest
men
ts a
re n
on-d
eriv
ativ
e fi
nanc
ial a
sset
s w
ith
fixe
d m
atur
itie
s an
d fi
xed
or d
eter
min
able
pay
men
ts th
at th
e To
wn
has
the
posi
tive
in
tent
ion
and
abili
ty to
hol
d to
mat
urit
y. T
hey
are
subs
eque
ntly
mea
sure
d at
am
orti
sed
cost
. Gai
ns o
r los
ses
are
reco
gnis
ed in
pro
fit o
r los
s.
Hel
d-to
-mat
urit
y in
vest
men
ts a
re in
clud
ed in
cur
rent
ass
ets
whe
re th
ey a
re
expe
cted
to m
atur
e w
ithi
n 1
2 m
onth
s af
ter t
he e
nd o
f th
e re
port
ing
peri
od. A
ll ot
her i
nves
tmen
ts a
re c
lass
ified
as
non-
curr
ent.
(iv)
A
vaila
ble-
for-
sale
fina
ncia
l ass
ets
Ava
ilabl
e-fo
r-sa
le fi
nanc
ial a
sset
s ar
e no
n-de
riva
tive
fina
ncia
l ass
ets
that
are
ei
ther
not
sui
tabl
e to
be
clas
sifi
ed in
to o
ther
cat
egor
ies
of fi
nanc
ial a
sset
s du
e to
thei
r nat
ure,
or t
hey
are
desi
gnat
ed a
s su
ch b
y m
anag
emen
t. Th
ey c
ompr
ise
inve
stm
ents
in th
e eq
uity
of
othe
r ent
itie
s w
here
ther
e is
nei
ther
a fi
xed
mat
urit
y no
r fixe
d or
det
erm
inab
le p
aym
ents
.
They
are
sub
sequ
entl
y m
easu
red
at f
air v
alue
wit
h ch
ange
s in
suc
h fa
ir v
alue
(i
.e. g
ains
or l
osse
s) re
cogn
ised
in o
ther
com
preh
ensi
ve in
com
e (e
xcep
t fo
r im
pair
men
t los
ses)
. Whe
n th
e fi
nanc
ial a
sset
is d
erec
ogni
sed,
the
cum
ulat
ive
gain
or l
oss
pert
aini
ng to
that
ass
et p
revi
ousl
y re
cogn
ised
in o
ther
co
mpr
ehen
sive
inco
me
is re
clas
sifi
ed in
to p
rofi
t or l
oss.
Ava
ilabl
e-fo
r-sa
le
fina
ncia
l ass
ets
are
incl
uded
in c
urre
nt a
sset
s, w
here
they
are
exp
ecte
d to
be
sold
wit
hin
12
mon
ths
afte
r the
end
of
the
repo
rtin
g pe
riod
. All
othe
r ava
ilabl
e-fo
r-sa
le fi
nanc
ial a
sset
s ar
e cl
assi
fied
as
non-
curr
ent.
(v)
Fina
ncia
l lia
bilit
ies
Non
-der
ivat
ive
fina
ncia
l lia
bilit
ies
(exc
ludi
ng fi
nanc
ial g
uara
ntee
s) a
re
subs
eque
ntly
mea
sure
d at
am
orti
sed
cost
. Gai
ns o
r los
ses
are
reco
gnis
ed in
pr
ofit o
r los
s.
67Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
1.
SIG
NIF
ICA
NT
ACC
OU
NTI
NG
PO
LICI
ES (
cont
inue
d)
Impa
irm
ent
A fi
nanc
ial a
sset
is d
eem
ed to
be
impa
ired
if, a
nd o
nly
if, t
here
is o
bjec
tive
ev
iden
ce o
f im
pair
men
t as
a re
sult
of
one
or m
ore
even
ts (
a “l
oss
even
t”)
havi
ng o
ccur
red,
whi
ch h
as a
n im
pact
on
the
esti
mat
ed f
utur
e ca
sh fl
ows
of
the
fina
ncia
l ass
et(s
).
In th
e ca
se o
f av
aila
ble-
for-
sale
fina
ncia
l ass
ets,
a s
igni
fica
nt o
r pro
long
ed
decl
ine
in th
e m
arke
t val
ue o
f th
e in
stru
men
t is
cons
ider
ed a
loss
eve
nt.
Impa
irm
ent l
osse
s ar
e re
cogn
ised
in p
rofi
t or l
oss
imm
edia
tely
. Als
o, a
ny
cum
ulat
ive
decl
ine
in f
air v
alue
pre
viou
sly
reco
gnis
ed in
oth
er c
ompr
ehen
sive
in
com
e is
recl
assi
fied
to p
rofi
t or l
oss
at th
is p
oint
.
In th
e ca
se o
f fi
nanc
ial a
sset
s ca
rrie
d at
am
orti
sed
cost
, los
s ev
ents
may
in
clud
e: in
dica
tion
s th
at th
e de
btor
s or
a g
roup
of
debt
ors
are
expe
rien
cing
si
gnifi
cant
fina
ncia
l dif
ficu
lty,
def
ault
or d
elin
quen
cy in
inte
rest
or p
rinc
ipal
pay
men
ts; i
ndic
atio
ns th
at th
ey w
ill
ente
r ban
krup
tcy
or o
ther
fina
ncia
l reo
rgan
isat
ion;
and
cha
nges
in a
rrea
rs o
r ec
onom
ic c
ondi
tion
s th
at c
orre
late
wit
h de
faul
ts.
For fi
nanc
ial a
sset
s ca
rrie
d at
am
orti
sed
cost
(in
clud
ing
loan
s an
d re
ceiv
able
s),
a se
para
te a
llow
ance
acc
ount
is u
sed
to re
duce
the
carr
ying
am
ount
of
fina
ncia
l ass
ets
impa
ired
by
cred
it lo
sses
. Aft
er h
avin
g ta
ken
all p
ossi
ble
mea
sure
s of
reco
very
, if
man
agem
ent e
stab
lishe
s th
at th
e ca
rryi
ng a
mou
nt
cann
ot b
e re
cove
red
by a
ny m
eans
, at t
hat p
oint
the
wri
tten
-off
am
ount
s ar
e ch
arge
d to
the
allo
wan
ce a
ccou
nt o
r the
car
ryin
g am
ount
of
impa
ired
fina
ncia
l as
sets
is re
duce
d di
rect
ly if
no
impa
irm
ent a
mou
nt w
as p
revi
ousl
y re
cogn
ised
in
the
allo
wan
ce a
ccou
nt.
Der
ecog
niti
on
Fina
ncia
l ass
ets
are
dere
cogn
ised
whe
re th
e co
ntra
ctua
l rig
hts
to re
ceip
t of
cash
flow
s ex
pire
or t
he a
sset
is tr
ansf
erre
d to
ano
ther
par
ty w
here
by th
e To
wn
no lo
nger
has
any
sig
nifi
cant
con
tinu
al in
volv
emen
t in
the
risk
s an
d be
nefi
ts
asso
ciat
ed w
ith
the
asse
t.
Fina
ncia
l lia
bilit
ies
are
dere
cogn
ised
whe
re th
e re
late
d ob
ligat
ions
are
di
scha
rged
, can
celle
d or
exp
ired
. The
dif
fere
nce
betw
een
the
carr
ying
am
ount
of
the
fina
ncia
l lia
bilit
y ex
ting
uish
ed o
r tra
nsfe
rred
to a
noth
er p
arty
and
the
fair
val
ue o
f th
e co
nsid
erat
ion
paid
, inc
ludi
ng th
e tr
ansf
er o
f no
n-ca
sh a
sset
s or
liab
iliti
es a
ssum
ed, i
s re
cogn
ised
in p
rofi
t or l
oss.
(l)
Impa
irm
ent o
f A
sset
s
In a
ccor
danc
e w
ith
Aus
tral
ian
Acc
ount
ing
Stan
dard
s th
e To
wn’
s as
sets
, oth
er
than
inve
ntor
ies,
are
ass
esse
d at
eac
h re
port
ing
date
to d
eter
min
e w
heth
er
ther
e is
any
indi
cati
on th
ey m
ay b
e im
pair
ed.
Whe
re s
uch
an in
dica
tion
exi
sts,
an
impa
irm
ent t
est i
s ca
rrie
d ou
t on
the
asse
t by
com
pari
ng th
e re
cove
rabl
e am
ount
of
the
asse
t, b
eing
the
high
er o
f th
e as
set’
s fa
ir v
alue
less
cos
ts to
sel
l and
val
ue in
use
, to
the
asse
t’s
carr
ying
am
ount
.
Any
exc
ess
of th
e as
set’
s ca
rryi
ng a
mou
nt o
ver i
ts re
cove
rabl
e am
ount
is
reco
gnis
ed im
med
iate
ly in
pro
fit o
r los
s, u
nles
s th
e as
set i
s ca
rrie
d at
a
reva
lued
am
ount
in a
ccor
danc
e w
ith
anot
her s
tand
ard
(e.g
. AA
SB 1
16)
whe
reby
any
impa
irm
ent l
oss
of
a re
valu
ed a
sset
is tr
eate
d as
a re
valu
atio
n de
crea
se in
acc
orda
nce
wit
h th
at o
ther
sta
ndar
d.
For n
on-c
ash
gene
rati
ng a
sset
s su
ch a
s ro
ads,
dra
ins,
pub
lic b
uild
ings
and
the
like,
val
ue in
use
is re
pres
ente
d by
the
depr
ecia
ted
repl
acem
ent c
ost o
f th
e as
set.
(m)
Leas
es
Leas
es o
f fi
xed
asse
ts w
here
sub
stan
tial
ly a
ll th
e ri
sks
and
bene
fits
inci
dent
al
to th
e ow
ners
hip
of th
e as
set,
but
not
lega
l ow
ners
hip,
are
tran
sfer
red
to th
e To
wn,
are
cla
ssifi
ed a
s fi
nanc
e le
ases
.
Fina
nce
leas
es a
re c
apit
alis
ed re
cord
ing
an a
sset
and
a li
abili
ty a
t the
low
er
amou
nts
equa
l to
the
fair
val
ue o
f th
e le
ased
pro
pert
y or
the
pres
ent v
alue
of
the
min
imum
leas
e pa
ymen
ts, i
nclu
ding
any
gua
rant
eed
resi
dual
val
ues.
Lea
se
paym
ents
are
allo
cate
d be
twee
n th
e re
duct
ion
of th
e le
ase
liabi
lity
and
the
leas
e in
tere
st e
xpen
se f
or th
e pe
riod
.
Leas
ed a
sset
s ar
e de
prec
iate
d on
a s
trai
ght l
ine
basi
s ov
er th
e sh
orte
r of
thei
r es
tim
ated
use
ful l
ives
or t
he le
ase
term
.
Leas
e pa
ymen
ts f
or o
pera
ting
leas
es, w
here
sub
stan
tial
ly a
ll th
e ri
sks
and
bene
fits
rem
ain
wit
h th
e le
ssor
, are
cha
rged
as
expe
nses
in th
e pe
riod
s in
w
hich
they
are
incu
rred
.
Leas
e in
cent
ives
und
er o
pera
ting
leas
es a
re re
cogn
ised
as
a lia
bilit
y an
d am
orti
sed
on a
str
aigh
t lin
e ba
sis
over
the
life
of th
e le
ase
term
.
68 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
1.
SIG
NIF
ICA
NT
ACC
OU
NTI
NG
PO
LICI
ES (
cont
inue
d)
(n)
Empl
oyee
Ben
efits
(i)
Leav
e En
titl
emen
ts
Ann
ual L
eave
and
Lon
g Se
rvic
e Le
ave
(Sho
rt T
erm
Ben
efits
)
Prov
isio
n is
mad
e fo
r the
Tow
n’s
oblig
atio
ns f
or s
hort
term
em
ploy
ee
bene
fits
. Sh
ort t
erm
em
ploy
ee b
enefi
ts a
re b
enefi
ts (
othe
r tha
n te
rmin
atio
n be
nefi
ts)
that
are
exp
ecte
d to
be
sett
led
who
lly b
efor
e 1
2 m
onth
s af
ter t
he e
nd o
f th
e an
nual
repo
rtin
g pe
riod
in w
hich
the
empl
oyee
s re
nder
the
rela
ted
serv
ice,
incl
udin
g w
ages
, sal
arie
s an
d si
ck
leav
e. S
hort
term
em
ploy
ee b
enefi
ts a
re m
easu
red
at th
e (u
ndis
coun
ted)
am
ount
s ex
pect
ed to
be
paid
whe
n th
e ob
ligat
ion
is s
ettl
ed.
The
Tow
n’s
oblig
atio
ns f
or s
hort
term
em
ploy
ee b
enefi
ts s
uch
as w
ages
, sa
lari
es a
nd s
ick
leav
e ar
e re
cogn
ised
as
a pa
rt o
f cu
rren
t tra
de a
nd o
ther
pa
yabl
es in
the
Stat
emen
t of
Fina
ncia
l Pos
itio
n. T
he T
own’
s ob
ligat
ions
fo
r em
ploy
ees’
ann
ual l
eave
and
long
ser
vice
leav
e en
titl
emen
ts a
re
reco
gnis
ed a
s pr
ovis
ions
in th
e St
atem
ent o
f Fi
nanc
ial P
osit
ion.
Ann
ual L
eave
and
Lon
g Se
rvic
e Le
ave
(Lon
g Te
rm B
enefi
ts)
Prov
isio
n is
mad
e fo
r em
ploy
ees’
long
ser
vice
leav
e an
d an
nual
leav
e en
titl
emen
ts n
ot e
xpec
ted
to b
e se
ttle
d w
holly
wit
hin
12
mon
ths
afte
r th
e en
d of
the
annu
al re
port
ing
peri
od in
whi
ch th
e em
ploy
ees
rend
er th
e re
late
d se
rvic
e. O
ther
long
term
em
ploy
ee b
enefi
ts a
re m
easu
red
at th
e pr
esen
t val
ue o
f th
e pr
esen
t val
ue o
f th
e ex
pect
ed f
utur
e pa
ymen
ts to
be
mad
e to
em
ploy
ees.
Exp
ecte
d fu
ture
pay
men
ts in
corp
orat
e an
tici
pate
d fu
ture
wag
e an
d sa
lary
leve
ls, d
urat
ions
or s
ervi
ce a
nd e
mpl
oyee
de
part
ures
and
are
dis
coun
ted
at ra
tes
dete
rmin
ed b
y re
fere
nce
to
mar
ket y
ield
s at
the
end
of th
e re
port
ing
peri
od o
n go
vern
men
t bon
ds
that
hav
e m
atur
ity
date
s th
at a
ppro
xim
ate
the
term
s of
the
oblig
atio
ns.
Any
rem
easu
rem
ents
for
cha
nges
in a
ssum
ptio
ns o
f ob
ligat
ions
for
ot
her l
ong
term
em
ploy
ee b
enefi
ts a
re re
cogn
ised
in p
rofi
t or l
oss
in th
e pe
riod
s in
whi
ch th
e ch
ange
s oc
cur.
The
Tow
n’s
oblig
atio
ns f
or lo
ng te
rm e
mpl
oyee
ben
efits
are
pre
sent
ed
as n
on-c
urre
nt p
rovi
sion
s in
its
stat
emen
t of
fina
ncia
l pos
itio
n, e
xcep
t w
here
the
Tow
n do
es n
ot h
ave
an u
ncon
diti
onal
righ
t to
defe
r set
tlem
ent
for a
t lea
st 1
2 m
onth
s af
ter t
he e
nd o
f th
e re
port
ing
peri
od, i
n w
hich
cas
e th
e ob
ligat
ions
are
pre
sent
ed a
s cu
rren
t pro
visi
ons.
(ii)
Su
pera
nnua
tion
The
Tow
n m
eets
the
stat
utor
y re
quir
emen
ts o
f th
e Su
pera
nnua
tion
G
uara
ntee
Act
by
cont
ribu
ting
the
min
imum
9.5
0%
to th
e W
A L
ocal
G
over
nmen
t Sup
eran
nuat
ion
Plan
or t
he C
ity
of P
erth
Sup
eran
nuat
ion
Sche
me
depe
ndin
g on
the
empl
oyee
’s m
embe
rshi
p st
atus
. The
To
wn
also
con
trib
utes
an
addi
tion
al 5
% to
the
WA
Loc
al G
over
nmen
t Su
pera
nnua
tion
Pla
n an
d an
add
itio
nal 5
% to
the
City
of
Pert
h Su
pera
nnua
tion
Sch
eme
whe
re v
olun
tary
con
trib
utio
ns a
re m
ade
by
empl
oyee
s.
The
Tow
n co
ntri
buti
ons
are
char
ged
agai
nst r
even
ue in
the
fina
ncia
l yea
rs
to w
hich
the
paym
ents
rela
te.
(o)
Borr
owin
g Co
sts
Bor
row
ing
cost
s ar
e re
cogn
ised
as
an e
xpen
se w
hen
incu
rred
exc
ept w
here
th
ey a
re d
irec
tly
attr
ibut
able
to th
e ac
quis
itio
n, c
onst
ruct
ion
or p
rodu
ctio
n of
a
qual
ifyi
ng a
sset
. W
here
this
is th
e ca
se, t
hey
are
capi
talis
ed a
s pa
rt o
f th
e co
st
of th
e pa
rtic
ular
ass
et u
ntil
such
tim
e as
the
asse
t is
subs
tant
ially
read
y fo
r its
in
tend
ed u
se o
r sal
e.
(p)
Trad
e an
d O
ther
Pay
able
s
Trad
e pa
yabl
es a
nd o
ther
pay
able
s re
pres
ent l
iabi
litie
s fo
r goo
ds a
nd s
ervi
ces
prov
ided
to th
e To
wn
prio
r to
the
end
of th
e fi
nanc
ial y
ear t
hat a
re u
npai
d an
d ar
ise
whe
n th
e To
wn
beco
mes
obl
iged
to m
ake
futu
re p
aym
ents
in re
spec
t of
the
purc
hase
of
thes
e go
ods
and
serv
ices
. Th
e am
ount
s ar
e un
secu
red,
are
re
cogn
ised
as
a cu
rren
t lia
bilit
y an
d ar
e no
rmal
ly p
aid
wit
hin
thir
ty d
ays
of
reco
gnit
ion.
(q)
Prov
isio
ns
Prov
isio
ns a
re re
cogn
ised
whe
n th
e To
wn
has
a pr
esen
t leg
al o
r con
stru
ctiv
e ob
ligat
ion
as a
resu
lt o
f pa
st e
vent
s; f
or w
hich
it is
pro
babl
e th
at a
n ou
tflow
of
econ
omic
ben
efits
will
resu
lt a
nd th
at o
utfl
ow c
an b
e re
liabl
y m
easu
red.
Prov
isio
ns a
re m
easu
red
usin
g th
e be
st e
stim
ate
of th
e am
ount
s re
quir
ed to
se
ttle
the
oblig
atio
n at
the
end
of th
e re
port
ing
peri
od.
69Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
1.
SIG
NIF
ICA
NT
ACC
OU
NTI
NG
PO
LICI
ES (
cont
inue
d)
(r)
Inve
stm
ents
in A
ssoc
iate
s
A
n as
soci
ate
is a
n en
tity
ove
r whi
ch th
e To
wn
has
sign
ifica
nt in
flue
nce.
Si
gnifi
cant
infl
uenc
e is
the
pow
er to
par
tici
pate
in th
e fi
nanc
ial o
pera
ting
po
licy
deci
sion
s of
that
ent
ity
but i
s no
t con
trol
or j
oint
con
trol
of
thos
e po
licie
s. In
vest
men
ts in
ass
ocia
tes
are
acco
unte
d fo
r in
the
fina
ncia
l st
atem
ents
by
appl
ying
the
equi
ty m
etho
d of
acc
ount
ing,
whe
reby
the
inve
stm
ent i
s in
itia
lly re
cogn
ised
at c
ost a
nd a
djus
ted
ther
eaft
er f
or th
e po
st-a
cqui
siti
on c
hang
e in
the
Tow
n’s
shar
e of
net
ass
ets
of th
e as
soci
ate.
In
addi
tion
, the
Tow
n’s
shar
e of
the
profi
t or l
oss
of th
e as
soci
ate
is in
clud
ed in
th
e To
wn’
s pr
ofit o
r los
s.
Th
e ca
rryi
ng a
mou
nt o
f th
e in
vest
men
t inc
lude
s, w
here
app
licab
le, g
oodw
ill
rela
ting
to th
e as
soci
ate.
Any
dis
coun
t on
acqu
isit
ion,
whe
reby
the
Tow
n’s
shar
e of
the
net f
air v
alue
of
the
asso
ciat
e ex
ceed
s th
e co
st o
f in
vest
men
t, is
re
cogn
ised
in p
rofi
t or l
oss
in th
e pe
riod
in w
hich
the
inve
stm
ent i
s ac
quir
ed.
Pr
ofits
and
loss
es re
sult
ing
from
tran
sact
ions
bet
wee
n th
e To
wn
and
the
asso
ciat
e ar
e el
imin
ated
to th
e ex
tent
of
the
Tow
n’s
inte
rest
in th
e as
soci
ate.
W
hen
the
Tow
n’s
shar
e of
loss
es in
an
asso
ciat
e eq
uals
or e
xcee
ds it
s in
tere
st
in th
e as
soci
ate,
the
Tow
n di
scon
tinu
es re
cogn
isin
g it
s sh
are
of f
urth
er lo
sses
un
less
it h
as in
curr
ed le
gal o
r con
stru
ctiv
e ob
ligat
ions
or m
ade
paym
ents
on
beha
lf o
f th
e as
soci
ate.
Whe
n th
e as
soci
ate
subs
eque
ntly
mak
es p
rofi
ts, t
he
Tow
n w
ill re
sum
e re
cogn
isin
g it
s sh
are
of th
ose
profi
ts o
nce
its
shar
e of
the
profi
ts e
qual
s th
e sh
are
of th
e lo
sses
not
reco
gnis
ed.
(s)
Inte
rest
s in
Joi
nt A
rran
gem
ents
Jo
int a
rran
gem
ents
repr
esen
t the
con
trac
tual
sha
ring
of
cont
rol b
etw
een
part
ies
in a
bus
ines
s ve
ntur
e w
here
una
nim
ous
deci
sion
s ab
out r
elev
ant
acti
viti
es a
re re
quir
ed.
Se
para
te jo
int v
entu
re e
ntit
ies
prov
idin
g jo
int v
entu
rers
wit
h an
inte
rest
to
net
ass
ets
are
clas
sifi
ed a
s a
join
t ven
ture
and
acc
ount
ed f
or u
sing
the
equi
ty m
etho
d. R
efer
to n
ote
1(r
) fo
r a d
escr
ipti
on o
f th
e eq
uity
met
hod
of
acco
unti
ng.
Jo
int v
entu
re o
pera
tion
s re
pres
ent a
rran
gem
ents
whe
reby
join
t ope
rato
rs
mai
ntai
n di
rect
inte
rest
s in
eac
h as
set a
nd e
xpos
ure
to e
ach
liabi
lity
of th
e ar
rang
emen
t. Th
e To
wn’
s in
tere
sts
in th
e as
sets
, lia
bilit
ies,
reve
nue
and
expe
nses
of
join
t ope
rati
ons
are
incl
uded
in th
e re
spec
tive
line
item
s of
the
fina
ncia
l sta
tem
ents
. Inf
orm
atio
n ab
out t
he jo
int v
entu
res
is s
et o
ut in
not
es
acco
mpa
nyin
g th
e fi
nanc
ial r
epor
t.
(t)
Trad
e an
d ot
her R
ecei
vabl
es
Tr
ade
rece
ivab
les
and
othe
r rec
eiva
bles
incl
ude
amou
nts
due
from
rate
paye
rs f
or
unpa
id ra
tes
and
serv
ice
char
ges
and
othe
r am
ount
s du
e fr
om th
ird
part
ies
for
good
s so
ld a
nd s
ervi
ces
perf
orm
ed in
the
ordi
nary
cou
rse
of b
usin
ess.
Re
ceiv
able
s ex
pect
ed to
be
colle
cted
wit
hin
12
mon
ths
of th
e en
d of
the
repo
rtin
g pe
riod
are
cla
ssifi
ed a
s cu
rren
t ass
ets.
All
othe
r rec
eiva
bles
are
cl
assi
fied
as
non-
curr
ent a
sset
s.
Co
llect
abili
ty o
f tr
ade
and
othe
r rec
eiva
bles
is re
view
ed o
n an
ong
oing
bas
is.
Deb
ts th
at a
re k
now
n to
be
unco
llect
able
are
wri
tten
off
whe
n id
enti
fied
. A
n al
low
ance
for
dou
btfu
l deb
ts is
rais
ed w
hen
ther
e is
obj
ecti
ve e
vide
nce
that
th
ey w
ill n
ot b
e co
llect
able
.
(u)
Borr
owin
g Co
sts
Bor
row
ing
cost
s ar
e re
cogn
ised
as
an e
xpen
se w
hen
incu
rred
exc
ept w
here
th
ey a
re d
irec
tly
attr
ibut
able
to th
e ac
quis
itio
n, c
onst
ruct
ion
or p
rodu
ctio
n of
a
qual
ifyi
ng a
sset
. W
here
this
is th
e ca
se, t
hey
are
capi
talis
ed a
s pa
rt o
f th
e co
st
of th
e pa
rtic
ular
ass
et u
ntil
such
tim
e as
the
asse
t is
subs
tant
ially
read
y fo
r its
in
tend
ed u
se o
r sal
e.
(v)
Roun
ding
All
figu
res
show
n in
the
fina
ncia
l rep
ort,
oth
er th
an a
rate
in th
e do
llar,
are
roun
ded
to th
e ne
ares
t dol
lar.
70 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
1.
SIG
NIF
ICA
NT
ACC
OU
NTI
NG
PO
LICI
ES (
cont
inue
d)
(w)
Com
para
tive
s
Whe
re re
quir
ed, c
ompa
rati
ve fi
gure
s ha
ve b
een
adju
sted
to c
onfo
rm w
ith
chan
ges
in th
e pr
esen
tati
on f
or th
e cu
rren
t fina
ncia
l yea
r.
Whe
n th
e To
wn
appl
ies
an a
ccou
ntin
g po
licy
retr
ospe
ctiv
ely,
mak
es a
re
tros
pect
ive
rest
atem
ent o
r rec
lass
ifies
item
s in
its
fina
ncia
l sta
tem
ent,
an
addi
tion
al (
thir
d) s
tate
men
t of
fina
ncia
l pos
itio
n as
at t
he b
egin
ning
of
the
prec
edin
g pe
riod
in a
ddit
ion
to th
e m
inim
um c
ompa
rati
ve fi
nanc
ial s
tate
men
ts
is p
rese
nted
.
Unl
ess
othe
rwis
e st
ated
, the
bud
get c
ompa
rati
ve fi
gure
s sh
own
in th
is a
nnua
l fi
nanc
ial r
epor
t rel
ate
to th
e or
igin
al b
udge
t est
imat
e fo
r the
rele
vant
item
of
disc
losu
re.
(x)
Curr
ent a
nd N
on-C
urre
nt C
lass
ifica
tion
In th
e de
term
inat
ion
of w
heth
er a
n as
set o
r lia
bilit
y is
cur
rent
or n
on-c
urre
nt,
cons
ider
atio
n is
giv
en to
tim
e w
hen
each
ass
et o
r lia
bilit
y is
exp
ecte
d to
be
sett
led.
The
ass
et o
r lia
bilit
y is
cla
ssifi
ed a
s cu
rren
t if
it is
exp
ecte
d to
be
sett
led
wit
hin
the
next
12
mon
ths,
bei
ng th
e To
wn’
s op
erat
iona
l cyc
le.
In th
e ca
se o
f lia
bilit
ies
whe
re th
e To
wn
does
not
hav
e un
cond
itio
nal r
ight
to d
efer
se
ttle
men
t bey
ond
12
mon
ths,
suc
h as
ves
ted
long
ser
vice
leav
e, th
e lia
bilit
y is
cl
assi
fied
as
curr
ent e
ven
if n
ot e
xpec
ted
to b
e re
alis
ed in
the
next
12
mon
ths.
In
vent
orie
s he
ld f
or tr
adin
g ar
e cl
assi
fied
as
curr
ent e
ven
if n
ot e
xpec
ted
to b
e re
alis
ed in
the
next
12
mon
ths
exce
pt f
or la
nd h
eld
for s
ale
whe
re it
is h
eld
as
non-
curr
ent b
ased
on
the
Tow
n’s
inte
ntio
ns to
rele
ase
for s
ale.
(y)
Inte
rest
in J
oint
Ven
ture
The
Tow
n is
a p
arti
cipa
nt in
bot
h th
e M
inda
rie
Regi
onal
Cou
ncil
and
Tam
ala
Park
Reg
iona
l Cou
ncil
wit
h si
x ot
her C
ounc
ils, n
amel
y th
e Ci
ties
of
Joon
dalu
p,
Wan
nero
o, S
tirl
ing,
Per
th a
nd V
ince
nt a
nd th
e To
wn
of V
icto
ria
Park
.
Inte
rest
in J
oint
Ven
ture
is a
ccou
nted
for
by
appl
ying
the
equi
ty m
etho
d.
Und
er th
is m
etho
d of
acc
ount
ing
inte
rest
in a
join
tly
cont
rolle
d en
tity
is
init
ially
reco
rded
at c
ost a
nd a
djus
ted
ther
eaft
er f
or th
e po
st a
cqui
siti
on
chan
ge in
the
vent
urer
’s s
hare
of
net a
sset
s of
the
join
tly
cont
rolle
d en
tity
.
For f
urth
er d
etai
ls re
lati
ng to
the
Inte
rest
in J
oint
Ven
ture
refe
r to
note
31
.
(z)
Ado
ptio
n of
New
and
Rev
ised
Acc
ount
ing
Stan
dard
s
Dur
ing
the
curr
ent y
ear,
the
Coun
cil a
dopt
ed a
ll of
the
new
and
revi
sed
Aus
tral
ian
Stan
dard
s an
d In
terp
reta
tion
s w
hich
wer
e co
mpi
led,
bec
ame
man
dato
ry a
nd w
hich
wer
e ap
plic
able
to it
s op
erat
ions
.
Thes
e ne
w a
nd re
vise
d St
anda
rds
wer
e:
AA
SB 2
01
1-7
AA
SB 2
01
2-3
AA
SB 2
013
-3
AA
SB 2
013
-8
AA
SB 2
013
-9 P
arts
A &
B
Mos
t of
the
Stan
dard
s ad
opte
d ha
d a
min
imal
eff
ect o
n th
e ac
coun
ting
and
re
port
ing
prac
tice
s of
the
Coun
cil a
s th
ey d
id n
ot h
ave
a si
gnifi
cant
impa
ct
on th
e ac
coun
ting
or r
epor
ting
pra
ctic
es o
r wer
e ei
ther
not
app
licab
le, l
arge
ly
edit
oria
l in
natu
re, w
ere
revi
sion
s to
hel
p en
sure
con
sist
ency
wit
h pr
esen
tati
on,
reco
gnit
ion
and
mea
sure
men
t cri
teri
a of
IFR
Ss o
r rel
ated
to to
pics
not
rele
vant
to
ope
rati
ons.
71Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
1.
SIG
NIF
ICA
NT
ACC
OU
NTI
NG
PO
LICI
ES (
cont
inue
d)
(aa)
N
ew A
ccou
ntin
g St
anda
rds
and
Inte
rpre
tati
ons
for A
pplic
atio
n in
Fut
ure
Peri
ods
The
Aus
tral
ian
Acc
ount
ing
Stan
dard
s B
oard
has
issu
ed a
num
ber o
f ne
w a
nd a
men
ded
Acc
ount
ing
Stan
dard
s an
d In
terp
reta
tion
s th
at h
ave
man
dato
ry a
pplic
atio
n da
tes
for f
utur
e re
port
ing
peri
ods,
som
e of
whi
ch a
re
rele
vant
to th
e To
wn.
Man
agem
ent’
s as
sess
men
t of
the
new
and
am
ende
d pr
onou
ncem
ents
that
are
rele
vant
to th
e To
wn,
app
licab
le to
fut
ure
repo
rtin
g pe
riod
s an
d w
hich
hav
e no
t yet
bee
n ad
opte
d ar
e se
t out
as
follo
ws:
Title
Issu
ed
Appl
icab
leIm
pact
(i)AA
SB 9
– F
inan
cial In
stru
men
ts D
ecem
ber
2014
(inc
orpo
ratin
g AA
SB 2
014-
7 an
d AA
SB 2
014-
8)
Dec-
141-
Jan-
18Ni
l – T
he o
bjec
tive
of th
is St
anda
rd is
to im
prov
e an
d sim
plify
the
appr
oach
for c
lassifi
catio
n an
d m
easu
rem
ent o
f fina
ncial
ass
ets
com
pare
d wi
th th
e re
quire
men
ts o
f AAS
B 13
9. G
iven
the
natu
re
of th
e fin
ancia
l ass
ets
of th
e Co
uncil
, it i
s no
t ant
icipa
ted
the
stan
dard
will
have
any
mat
erial
effe
ct.
(ii)AA
SB 2
010
– 7
Amen
dmen
ts to
Aus
tralia
n Ac
coun
ting
Stan
dard
s ar
ising
from
AAS
B 9
(Dec
embe
r 201
0)
[AAS
B 1,
3, 4
, 5, 7
, 101
, 102
, 108
, 11
2, 1
18, 1
20, 1
21, 1
27, 1
28, 1
31,
132,
136
, 137
, 139
, 102
3 &
1038
and
In
terp
reta
tions
2, 5
, 10,
12,
19
& 12
7)
Sep-
121-
Jan-
18Ni
l – T
he re
visio
ns e
mbo
died
in th
is st
anda
rd g
ive e
ffect
to
the
cons
eque
ntial
cha
nges
aris
ing
from
the
issua
nce
of A
ASB
9 wh
ich is
not
ant
icipa
ted
to h
ave
any
mat
erial
effe
ct o
n th
e Co
uncil
(refe
r (i)
abov
e).
(iii)
AASB
15
Reve
nue
from
Con
tract
s wi
th
Cust
omer
sDe
c-14
1-Ja
n-17
This
Stan
dard
est
ablis
hes
prin
ciple
s fo
r ent
ities
to a
pply
to re
port
usef
ul in
form
atio
n to
use
rs o
f fina
ncial
sta
tem
ents
abo
ut th
e na
ture
, am
ount
, tim
ing
and
unce
rtain
ty o
f rev
enue
and
cas
h flo
ws
arisi
ng fr
om a
con
tract
with
a c
usto
mer
.
The
effe
ct o
f thi
s St
anda
rd w
ill de
pend
upo
n th
e na
ture
of
futu
re tr
ansa
ctio
ns th
e Co
uncil
has
with
thos
e th
ird p
artie
s it
has
deali
ngs
with
. It
may
or m
ay n
ot b
e sig
nific
ant.
(iv)
AASB
201
3-9
Am
endm
ents
to A
ustra
lian
Acco
untin
g St
anda
rds
– Co
ncep
tual
Fram
ewor
k, M
ater
iality
and
Fin
ancia
l in
stru
men
ts.
[O
pera
tive
date
: Par
t C F
inan
cial in
stru
men
ts
- 1
Janu
ary
2015
]
Dec-
13Re
fer t
itle
colu
mn
Part
C of
this
Stan
dard
mak
es c
onse
quen
tial a
men
dmen
ts
to A
ASB
9 an
d nu
mer
ous
othe
r Sta
ndar
ds a
nd a
men
ds th
e pe
rmiss
ions
aro
und
certa
in a
pplic
atio
ns re
latin
g to
fina
ncial
lia
biliti
es re
issue
d at
fair
valu
e. A
s th
e bu
lk of
cha
nges
relat
e ei
ther
to
edi
toria
l or r
efer
ence
cha
nges
it is
not
exp
ecte
d to
hav
e a
signi
fican
t im
pact
on
the
Coun
cil.
(v)
AASB
201
4-3
Am
endm
ents
to A
ustra
lian
Acco
untin
g St
anda
rds
- Acc
ount
ing
for
Acqu
isitio
ns o
f Int
eres
ts in
Joi
nt O
pera
tions
[A
ASB
1 &
AASB
11]
Aug-
141-
Jan-
16Th
is St
anda
rd a
men
ds A
ASB
11 J
oint
Arra
ngem
ents
to re
quire
th
e ac
quire
r of a
n in
tere
st (b
oth
initia
l and
add
itiona
l) in
a jo
int
oper
atio
n in
whi
ch th
e ac
tivity
con
stitu
tes
a bu
sines
s, as
defi
ned
in A
ASB
3: B
usin
ess
Com
bina
tions
, to
appl
y all
of t
he p
rincip
les
on b
usin
ess
com
bina
tions
acc
ount
ing
in A
ASB
3 an
d ot
her
Aust
ralia
n Ac
coun
ting
Stan
dard
s ex
cept
for t
hose
prin
ciple
s th
at c
onflic
t with
the
guid
ance
in A
ASB
11; a
nd d
isclo
se th
e in
form
atio
n re
quire
d by
AAS
B 3
and
othe
r Aus
tralia
n Ac
coun
ting
Stan
dard
s fo
r bus
ines
s co
mbi
natio
ns.
Sinc
e ad
optio
n of
this
Stan
dard
wou
ld im
pact
onl
y ac
quisi
tions
of
inte
rest
s in
join
t ope
ratio
ns o
n or
afte
r 1 J
anua
ry 2
016,
m
anag
emen
t bel
ieve
s it
is im
prac
ticab
le a
t thi
s st
age
to p
rovid
e a
reas
onab
le e
stim
ate
of s
uch
impa
ct o
n th
e Co
uncil
’s fin
ancia
l st
atem
ents.
(vi)
AASB
201
4-4
Amen
dmen
ts to
Aus
tralia
n Ac
coun
ting
Stan
dard
s -
Clar
ificat
ion
of
Acce
ptab
le M
etho
ds o
f Dep
recia
tion
and
Amor
tisat
ion
Aug-
141-
Jan-
16Th
is St
anda
rd a
men
ds A
ASB
116
and
AASB
138
to e
stabl
ish th
e pr
incip
le fo
r the
bas
is of
dep
recia
tion
and
amor
tisat
ion
as b
eing
the
expe
cted
pat
tern
of c
onsu
mpt
ion
of th
e fu
ture
eco
nom
ic be
nefit
s of
an
asse
t. It
also
clar
ifies
the
use
of re
venu
e-ba
sed
met
hods
to c
alcula
te th
e de
prec
iatio
n of
an
asse
t is
not a
ppro
priat
e no
r is
reve
nue
gene
rally
an
appr
opria
te b
asis
for m
easu
ring
the
cons
umpt
ion
of th
e ec
onom
ic be
nefit
s em
bodi
ed in
an
intan
gibl
e as
set.
[AAS
B 11
6 &
138]
Give
n th
e Co
uncil
cur
rent
ly us
es th
e ex
pect
ed p
atte
rn o
f co
nsum
ptio
n of
the
futu
re e
cono
mic
bene
fits
of a
n as
set a
s th
e ba
sis o
f calc
ulat
ion
of d
epre
ciatio
n, it
is n
ot e
xpec
ted
to h
ave
a sig
nific
ant i
mpa
ct.
(vii)
AASB
201
4-5
Amen
dmen
ts to
Aus
tralia
n Ac
coun
ting
Stan
dard
s ar
ising
from
AAS
B 15
Dec-
141-
Jan-
17Co
nseq
uent
ial c
hang
es to
var
ious
Sta
ndar
ds a
risin
g fro
m th
e iss
uanc
e of
AAS
B 15
.
It wi
ll req
uire
cha
nges
to re
flect
the
impa
ct o
f AAS
B 15
.
(viii)
AASB
201
5-2
Amen
dmen
ts to
Aus
tralia
n Ac
coun
ting
Stan
dard
s -
Disc
losu
re.
Initia
tive:
Am
endm
ents
to A
ASB
101
Jan-
151-
Jan-
16Th
is St
anda
rd a
men
ds A
ASB
101
to p
rovid
e cla
rifica
tion
rega
rdin
g th
e di
sclo
sure
requ
irem
ents
in A
ASB
101.
Spe
cifica
lly,
the
Stan
dard
pro
pose
s na
rrow-
focu
s am
endm
ents
to a
ddre
ss
som
e of
the
conc
erns
exp
ress
ed a
bout
exis
ting
pres
enta
tion
and
disc
losu
re re
quire
men
ts a
nd to
ens
ure
entit
ies
are
able
to
use
judg
emen
t whe
n ap
plyin
g a
Stan
dard
in d
eter
min
ing
what
in
form
atio
n to
disc
lose
in th
eir fi
nanc
ial s
tate
men
ts.
[AAS
B 7,
101
, 134
& 1
049]
This
Stan
dard
also
mak
es e
dito
rial a
nd c
onse
quen
tial
amen
dmen
ts a
s a
resu
lt of
am
endm
ents
to th
e St
anda
rds
liste
d in
the
title
col
umn.
It is
not a
ntici
pate
d it
will h
ave
any
signi
fican
t im
pact
on
disc
losu
res.
(ix)
AASB
201
5-3
Amen
dmen
ts to
Aus
tralia
n Ac
coun
ting
Stan
dard
s ar
ising
from
the
with
draw
al of
AAS
B 10
31 M
ater
iality
.
Jan-
151-
Jul-1
5Th
is St
anda
rd c
ompl
etes
the
with
draw
al of
refe
renc
es to
AAS
B 10
31 in
all A
ustra
lian
Acco
untin
g St
anda
rds
and
Inte
rpre
tatio
ns,
allow
ing
it to
be
com
plet
ely
with
draw
n.
It is
not a
ntici
pate
d it
will h
ave
a sig
nific
ant i
mpa
ct a
s th
e pr
incip
les
of m
ater
iality
rem
ain la
rgel
y un
chan
ged.
(x)
AASB
201
5-6
Amen
dmen
ts to
Aus
tralia
n Ac
coun
ting
Stan
dard
s -
Exte
ndin
g Re
lated
Pa
rty D
isclo
sure
s to
Not
-for-P
rofit
Pub
lic
Sect
or E
ntitie
s [A
ASB
10, 1
24 &
104
9]
Mar-
151-
Jul-1
6Th
e ob
ject
ive o
f thi
s St
anda
rd is
to e
xten
d th
e sc
ope
of A
ASB
124
Relat
ed P
arty
Disc
losu
res
to in
clude
not
-for-p
rofit
sec
tor
entit
ies.
The
Stan
dard
is e
xpec
ted
to h
ave
a sig
nific
ant d
isclo
sure
im
pact
on
the
finan
cial r
epor
t of t
he C
ounc
il as
both
Ele
cted
M
embe
rs a
nd S
enio
r Man
agem
ent w
ill be
dee
med
to b
e Ke
y M
anag
emen
t Per
sonn
el a
nd re
sulta
nt d
isclo
sure
s wi
ll be
nece
ssar
y.
Note
s:(1
) App
licab
le to
repo
rting
per
iods
com
men
cing
on o
r afte
r the
give
n da
te.
72 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
2.
COM
PON
ENT
FUN
CTIO
NS/
ACT
IVIT
IES
In o
rder
to d
isch
arge
its
resp
onsi
bilit
ies
to th
e co
mm
unit
y, th
e To
wn
has
deve
lope
d a
set o
f op
erat
iona
l and
fina
ncia
l obj
ecti
ves.
The
se o
bjec
tive
s ha
ve b
een
esta
blis
hed
both
on
an o
vera
ll ba
sis
refl
ecte
d by
the
Tow
n’s
Com
mun
ity
Stra
tegi
c Pl
an a
nd f
or
each
of
its
broa
d ac
tivi
ties
/pro
gram
s. T
hese
obj
ecti
ves
prov
ide
a fr
amew
ork
for
the
futu
re d
irec
tion
of
the
Tow
n of
Cam
brid
ge a
nd in
clud
e a
focu
s on
the
follo
win
g pr
iori
ty a
reas
:
Our
Com
mun
ity
Life
• A
sen
se o
f co
mm
unit
y, p
ride
and
bel
ongi
ng.
• Q
ualit
y lo
cal p
arks
and
ope
n sp
aces
for
the
com
mun
ity
to e
njoy
.
• A
n ac
tive
, saf
e an
d in
clus
ive
com
mun
ity.
Our
Pla
nned
Nei
ghbo
urho
ods
• N
eigh
bour
hood
s th
at a
re w
ell p
lann
ed, a
ttra
ctiv
e, re
spec
tful
of
the
char
acte
r and
resp
onsi
ve to
fut
ure
need
s.
• Su
cces
sful
com
mer
cial
, ret
ail a
nd s
ocia
l hub
s.
• Ef
fici
ent t
rans
port
net
wor
ks.
Our
Nat
ural
Env
iron
men
t
• Co
unci
l is
envi
ronm
enta
lly re
spon
sibl
e an
d le
ads
by e
xam
ple.
• A
com
mun
ity
that
em
brac
es e
nvir
onm
enta
lly re
spon
sibl
e pr
acti
ces.
Our
Cou
ncil
• Tr
ansp
aren
t, a
ccou
ntab
le g
over
nanc
e.
• Th
e To
wn
is a
pro
acti
ve lo
cal g
over
nmen
t tha
t get
s th
ings
don
e.
• A
str
ong
perf
orm
ing
loca
l gov
ernm
ent.
The
Stat
emen
t of
Com
preh
ensi
ve In
com
e is
pre
sent
ed in
a p
rogr
am f
orm
at u
sing
the
follo
win
g cl
assi
fica
tion
s:
Gen
eral
Pur
pose
Fun
ding
Gen
eral
rate
reve
nue,
inte
rest
for
late
pay
men
t, e
x gr
atia
rate
s, g
ener
al p
urpo
se
gran
ts, u
ntie
d ro
ad g
rant
s, in
tere
st o
n de
ferr
ed ra
tes,
inve
stm
ent r
etur
ns.
Gov
erna
nce
Mem
bers
of
Coun
cil,
civi
c re
cept
ions
and
fun
ctio
ns, p
ublic
rela
tion
s, e
lect
oral
, ad
min
istr
atio
n, fi
nanc
e.
Law
, Ord
er &
Pub
lic S
afet
y
Fire
pre
vent
ion,
incl
udin
g th
e Em
erge
ncy
Serv
ices
Lev
y, c
lear
ing
for fi
re h
azar
ds,
anim
al c
ontr
ol, d
og p
ound
, loc
al la
w c
ontr
ol, p
ublic
sec
urit
y, c
ivil
emer
genc
y se
rvic
es, b
each
insp
ecti
ons,
sur
f lif
esav
ing
club
s, n
eigh
bour
hood
wat
ch.
Hea
lth
Mat
erna
l and
infa
nt h
ealt
h, im
mun
isat
ion,
foo
d co
ntro
l, he
alth
insp
ecti
ons.
Educ
atio
n &
Wel
fare
Pre-
scho
ols,
chi
ld c
are
cent
res,
you
th s
ervi
ces,
age
d an
d di
sabl
ed, s
enio
r cit
izen
s’
cent
res,
wel
fare
adm
inis
trat
ion,
don
atio
ns to
wel
fare
org
anis
atio
ns.
Com
mun
ity
Am
enit
ies
Rubb
ish
colle
ctio
ns, r
ecyc
ling,
refu
se s
ite
oper
atio
ns, l
itte
r con
trol
, pub
lic li
tter
bin
s,
tow
n pl
anni
ng c
ontr
ol/s
tudi
es.
Recr
eati
on a
nd C
ultu
re
Pu
blic
hal
ls, c
ivic
cen
tres
, bea
ches
and
sw
imm
ing
pool
, gol
f co
urse
, par
ks, s
port
s gr
ound
s, s
port
s cl
ubs,
com
mun
ity
recr
eati
on p
rogr
ams,
cyc
lew
ays,
libr
ary,
co
mm
unit
y ar
ts p
rogr
am, a
mph
ithe
atre
.
Tran
spor
t
Road
s, f
ootp
aths
, rig
hts
of w
ay, d
rain
age,
road
ver
ges,
med
ian
stri
ps, u
nder
pass
es,
stre
et li
ghti
ng, s
tree
t cle
anin
g, s
tree
t tre
es, t
raffi
c su
rvey
s, tr
affi
c m
anag
emen
t,
unde
rgro
und
pow
er.
Econ
omic
Ser
vice
s
Bui
ldin
g co
ntro
l, sw
imm
ing
pool
insp
ecti
ons.
Oth
er P
rope
rty
Serv
ices
Publ
ic w
orks
ove
rhea
ds, p
lant
/veh
icle
ope
rati
ons,
oth
er p
rope
rty.
73Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
3.
ASS
ETS
CLA
SSIF
IED
BY
FUN
CTIO
N A
ND
ACT
IVIT
Y
30 J
une
2015
30 J
une
2014
$$
Gene
ral P
urpo
se F
undi
ng47
3,60
7 50
8,97
2
Gove
rnan
ce43
,148
,940
50
,153
,720
Law,
Ord
er a
nd P
ublic
Saf
ety
13,6
72,8
05
4,37
2,68
7
Heal
th23
,386
33
,031
Educ
atio
n an
d W
elfa
re34
6,34
9 31
4,29
5
Com
mun
ity A
men
ities
6,41
4,91
6 4,
368,
157
Recr
eatio
n an
d Cu
lture
103,
205,
287
94,1
30,3
15
Tran
spor
t92
,945
,786
69
,970
,632
Econ
omic
Ser
vices
27,8
84
48,6
17
Othe
r Pro
perty
and
Ser
vices
70,0
35,3
52
70,9
53,3
40
330,
294,
312
294,
853,
766
4.
DEP
RECI
ATIO
N(a
) D
epre
ciat
ion
by A
sset
Cla
ssifi
cati
on
Dep
reci
atio
n ex
pens
e fo
r the
fina
ncia
l yea
r was
cha
rged
in re
spec
t of:
30 J
une
2015
30 J
une
2014
$$
Build
ings
1,86
5,56
21,
661,
743
Offic
e Fu
rnitu
re a
nd E
quip
men
t49
5,49
046
6,72
4
Exte
rnal
Pla
nt a
nd E
quip
men
t41
5,62
139
8,71
8
Infra
stru
ctur
e As
sets
4,13
1,34
33,
973,
522
6,90
8,01
66,
500,
707
(b)
D
epre
ciat
ion
by P
rogr
am
Dep
reci
atio
n ex
pens
e fo
r the
fina
ncia
l yea
r was
cha
rged
in re
spec
t of:
30 J
une
2015
30 J
une
2014
$$
Gene
ral P
urpo
se F
undi
ng14
626
5
Gove
rnan
ce53
5,69
246
7,65
5
Law,
Ord
er a
nd P
ublic
Saf
ety
94,1
2096
,643
Heal
th10
,195
8,73
6
Educ
atio
n an
d W
elfa
re32
,651
28,5
61
Com
mun
ity A
men
ities
193,
233
126,
295
Recr
eatio
n an
d Cu
lture
3,11
1,66
82,
992,
541
Tran
spor
t2,
681,
524
2,54
2,58
6
Econ
omic
Ser
vices
7,33
28,
795
Othe
r Pro
perty
and
Ser
vices
241,
455
228,
630
6,90
8,01
66,
500,
707
74 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
5.
CON
DIT
ION
S O
VER
CON
TRIB
UTI
ON
SG
rant
s w
hich
wer
e re
cogn
ised
as
reve
nues
dur
ing
the
year
and
whi
ch w
ere
obta
ined
on
the
cond
itio
n th
at th
ey b
e ex
pend
ed o
n th
e ac
quis
itio
n of
non
-cur
rent
ass
ets
but
have
yet
to b
e ap
plie
d in
that
man
ner a
t rep
orti
ng d
ate
wer
e:
30 J
une
2015
30 J
une
2014
$$
MRW
A Re
habi
litatio
n 7
,979
7
0,23
4
Cap
Grnt
Sta
te 3
5,41
6 -
Capi
tal C
ontri
b 5
,000
-
48,
395
70,
234
Gra
nts
whi
ch w
ere
reco
gnis
ed a
s re
venu
es in
the
prev
ious
yea
r and
whi
ch w
ere
expe
nded
in th
e cu
rren
t rep
orti
ng p
erio
d in
the
man
ner s
peci
fied
by
the
cont
ribu
tor
wer
e:
30 J
une
2015
30 J
une
2014
$$
MRW
A Re
habi
litatio
n 7
0,23
4 1
6,60
9
Fede
ral B
lacks
pot
-
11,
291
70,
234
27,
900
6.
TRA
DE
AN
D O
THER
REC
EIVA
BLES
Curr
ent
30 J
une
2015
30 J
une
2014
$$
Rate
s 1
33,1
48
135
,327
Unde
rgro
und
Powe
r Cha
rges
-
3,6
21
GST
Rece
ivabl
e 5
78,5
61
662
,190
Fees
and
Cha
rges
35,
951
190
,129
Less
Pro
visio
n fo
r Im
pairm
ent o
f Rec
eiva
bles
(3,8
28)
(3,8
28)
Gran
ts R
ecei
vabl
e -
6
0,93
2
Othe
r Rec
eiva
bles
1,0
77,1
16
676
,717
1,8
20,9
48
1,7
25,0
88
Non
Curr
ent
30 J
une
2015
30 J
une
2014
$$
Unde
rgro
und
Powe
r Cha
rges
Def
erre
d 2
5,71
5 2
8,83
3
Pens
ione
r’s R
ates
Def
erre
d 2
99,0
59
331
,721
Defe
r Rat
es E
SL 3
6,83
3 3
6,45
6
361
,607
3
97,0
10
Curr
ent
30 J
une
2015
30 J
une
2014
$$
Prep
aym
ents
105
,329
1
22,2
81
105
,329
1
22,2
81
8.
INVE
NTO
RIES
Curr
ent
30 J
une
2015
30 J
une
2014
$$
Land
Hel
d Fo
r Res
ale 2
6,13
5 1
,076
,042
Depo
t Inv
ento
ry 3
4,08
1 3
6,47
9
Bold
Par
k Aq
uatic
Cen
tre In
vent
ory
3,1
54
19,
345
Wem
bley
Gol
f Cou
rse
Inve
ntor
y 2
33,2
27
171
,836
Tam
ala P
ark
Land
Hel
d fo
r Res
ale 2
16,7
00
6,9
62
513
,297
1
,310
,664
Pens
ione
r’s R
ates
Def
erre
d
The
amou
nts
of $
25
,71
5 a
nd $
29
9,0
59
rela
te to
Cou
ncil
Rate
s de
ferr
ed b
y pe
nsio
ners
in a
ccor
danc
e w
ith
the
Rate
s an
d Ch
arge
s (R
ebat
es a
nd D
efer
men
ts A
ct)
19
92
. In
add
itio
n, d
efer
red
rate
s of
$27
,43
8 re
lati
ng to
the
19
94
fina
ncia
l yea
r and
pr
ior a
re c
olle
ctab
le f
or a
nd o
n be
half
of
the
City
of
Pert
h.
7.
O
THER
CU
RREN
T A
SSET
S
75Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
9
(a)
CASH
AN
D C
ASH
EQ
UIV
ALE
NTS
In
vest
men
ts o
f ca
sh f
unds
are
mad
e in
acc
orda
nce
wit
h th
e W
este
rn A
ustr
alia
Tr
uste
e A
ct 1
96
2 (
as a
men
ded)
.
Curr
ent
30 J
une
2015
30 J
une
2014
$$
Cash
at b
ank
and
on h
and
1,0
06,2
25
918
,701
Term
Dep
osits
31,
538,
747
38,
683,
045
32,
544,
972
39,
601,
746
(b
) R
ESTR
ICTE
D C
ASH
AN
D IN
VEST
MEN
TS
Curr
ent
30 J
une
2015
30 J
une
2014
$$
Cash
and
cas
h eq
uiva
lent
s (s
ee N
ote
9 (a
)) 3
2,54
4,97
2 3
9,60
1,74
6
Othe
r Fin
ancia
l Ass
ets
- No
n-Cu
rrent
(See
Not
e 30
) 6
41,7
07
627
,245
33,
186,
679
40,
228,
991
Unre
stric
ted
10,
315,
815
8,3
46,2
79
Rest
ricte
d 2
2,87
0,86
4 3
1,88
2,71
2
33,
186,
679
40,
228,
991
The
follo
win
g re
stri
ctio
ns h
ave
been
impo
sed
by re
gula
tion
s or
oth
er e
xter
nally
im
pose
d Re
quir
emen
ts:
Curr
ent
30 J
une
2015
30 J
une
2014
$$
Rese
rves
(see
Not
e 14
)
- A
rea
Impr
ovem
ent R
eser
ve 1
,709
,288
7
65,4
01
- C
omm
unity
Fac
ilites
954
,670
1
,097
,441
- A
sset
Man
agem
ent
956
,836
9
99,7
76
- W
aste
Man
agem
ent
283
,101
4
46
- C
lubs
and
Ass
ociat
ions
876
,780
7
46,0
98
- D
evel
opm
ent C
ontri
butio
ns -
Par
k 9
32,7
50
432
,000
- D
evel
opm
ent C
ontri
butio
ns -
Pub
lic A
rt 5
5,00
0 -
Cam
brid
ge E
ndow
men
t Lan
ds A
ccou
nt (S
ee N
ote
14)
17,
034,
884
27,
619,
352
Unsp
ent G
rant
s/Co
ntrib
utio
ns (s
ee N
ote
5) 4
8,39
5 7
0,23
4
Wor
ks B
onds
and
Dep
osits
19,
160
151
,964
22,
870,
864
31,
882,
712
76 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
9 (c
) EA
RNIN
GS
ON
INVE
STM
ENTS
Earn
ings
on
Inve
stm
ents
30 J
une
2015
Ac
tual
30 J
une
2015
Bu
dget
30 J
une
2014
Ac
tual
$$
$
Mun
icipa
l 5
04,4
85
600
,000
55
4,27
5
Rese
rve
137
,894
4
3,50
0 10
6,59
8
Cam
brid
ge E
ndow
men
t Lan
ds A
ccou
nt 9
30,7
32
720
,000
67
6,68
8
1,5
73,1
11
1,3
63,5
00
1,33
7,56
1
10.
TRA
DE
AN
D O
THER
PAY
ABL
ES
Curr
ent
30 J
une
2015
30 J
une
2014
$$
Trad
e Cr
edito
rs 3
,018
,979
2
,707
,777
Inco
me
Rece
ived
in A
dvan
ce 2
5,97
1 2
6,21
4
Accr
ued
Expe
nses
2,4
73,3
78
888
,640
Wor
k Bo
nds
and
Depo
sits
19,
160
151
,963
GST
Paya
ble
189
,545
2
81,1
89
Sund
ry C
redi
tors
891
,122
8
19,6
63
6,6
18,1
55
4,87
5,44
6
11.
PRO
VIS
ION
S
30 J
une
2015
30 J
une
2014
$$
Curre
nt2,
421,
762
2,42
9,69
3
Non-
curre
nt32
1,69
032
7,06
5
2,74
3,45
22,
756,
758
Prov
isio
n fo
r Ann
ual
Leav
ePr
ovis
ion
for L
ong
Serv
ice
Leav
eTo
tal
$$
$
Open
ing
balan
ce a
s at
1 J
uly
2014
1,2
11,5
841,
545,
174
2,75
6,75
8
Addi
tiona
l Pro
visio
ns92
8,56
127
4,61
11,
203,
172
Amou
nts
used
(919
,459
)(2
97,0
19)
(1,2
16,4
78)
1,22
0,68
61,
522,
766
2,74
3,45
2
77Financial Report
12.
BORR
OW
ING
SCu
rren
t30
Jun
e 20
1530
Jun
e 20
14
$$
Loan
1 -
Wem
bley
Gol
f Cou
rse
Irrig
atio
n Lo
an P
rincip
al 1
58,2
00
152
,873
Loan
3 -
Wem
bley
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f Cou
rse
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ng R
ange
Loa
n Pr
incip
al 4
14,1
33
369
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Loan
4 -
Acq
uisit
ion
of 3
9 So
uthp
ort S
treet
-
1,0
72,9
24
Loan
5 -
Wem
bley
Spo
rts P
ark
-
600
,000
HP L
oan
- Adm
inist
ratio
n Tr
ansp
orta
ble
Offic
e 1
8,15
2 1
5,40
5
590,
485
2,21
0,32
3
Non
Curr
ent
30 J
une
2015
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une
2014
$$
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1 -
Wem
bley
Gol
f Cou
rse
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atio
n Lo
an P
rincip
al 1
,481
,051
1
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,251
Loan
3 -
Wem
bley
Gol
f Cou
rse
Drivi
ng R
ange
Loa
n Pr
incip
al 1
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6,74
6 1
0,43
0,87
9
Loan
4 -
Acq
uisit
ion
of 3
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uthp
ort S
treet
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01
-
HP L
oan
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inist
ratio
n Tr
ansp
orta
ble
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e 1
9,62
0 3
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7
12,6
24,5
18
12,1
09,4
27
All
repa
ymen
ts w
ith
resp
ect t
o th
e lo
an f
or th
e W
embl
ey G
olf
Cour
se a
re s
ourc
ed
from
gol
f co
urse
reve
nue.
New
Loa
ns
The
acqu
isit
ion
of 3
9 S
outh
port
Str
eet L
oan
was
refi
nanc
ed in
May
20
15
bas
ed o
n in
tere
st p
ayab
le o
nly
term
s.
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
78 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
12.
BORR
OW
ING
S (c
onti
nued
)
Loan
Rep
aym
ents
Part
icul
ars
Prin
cipa
l 1
July
201
4Ne
w L
oans
Inte
rest
Ca
pita
lised
20
14/2
015
Inte
rest
Re
paym
ents
20
14/2
015
Prin
cipa
lRe
paym
ents
20
14/2
015
Prin
cipa
l 30
Jun
e 20
15
Actu
alAc
tual
Budg
etAc
tual
Budg
etAc
tual
Budg
et
$$
$$
$$
$$
$
Gove
rnan
ce
HP L
oan
Adm
inist
ratio
n Tr
ansp
orta
ble
Offic
e 5
4,70
2 -
-
3,
400
3,30
0 16
,930
15
,100
37
,772
33
,600
54,
702
-
-
3,40
0 3,
300
16,9
30
15,1
00
37,7
72
33,6
00
Recr
eatio
n an
d Cu
lture
Loan
No.
1
Wem
bley
Gol
f Cou
rse
Irrig
atio
n Sy
stem
1,
792,
124
-
-
60,0
32
59,0
00
152,
873
152,
900
1,63
9,25
1 1,
639,
300
Loan
No.
3
Wem
bley
Gol
f Cou
rse
Drivi
ng R
ange
, Pro
shop
& In
frast
ruct
ure
10,8
00,0
00
-
-
322,
362
285,
800
369,
121
369,
100
10,4
30,8
79
10,4
30,9
00
Loan
No.
5
Wem
bley
Spo
rts P
ark
600
,000
-
-
1
7,77
1 -
6
00,0
00
617
,000
-
-
13,
192,
124
-
-
400,
165
344,
800
1,12
1,99
4 1,
139,
000
12,0
70,1
30
12,0
70,2
00
Othe
r Pro
pert
y &
Ser
vice
s
Loan
No.
4
Acqu
isitio
n of
39
Sout
hpor
t Stre
et 1
,072
,924
-
3
4,17
7 -
3
8,00
0 1
,107
,101
-
-
1
,111
,000
Acqu
isitio
n of
39
Sout
hpor
t Stre
et (R
e-fin
ancin
g) -
1
,107
,101
-
5
,243
-
-
-
1
,107
,101
-
1,0
72,9
24
1,1
07,1
01
34,
177
5,24
3 3
8,00
0 1,
107,
101
-
1,10
7,10
1 1,
111,
000
14,3
19,7
50 1
,107
,101
3
4,17
7 40
8,80
838
6,10
02,
246,
025
1,1
54,1
00
13,2
15,0
0313
,214
,800
79Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
12.
BORR
OW
ING
S (c
onti
nued
)Th
e in
tere
st s
how
n in
the
sche
dule
for
bot
h th
e W
embl
ey G
olf
Cour
se Ir
riga
tion
Sy
stem
Loa
n an
d W
embl
ey G
olf
Cour
se D
rivi
ng R
ange
, Pro
-sho
p an
d In
fras
truc
ture
D
evel
opm
ent h
as b
een
expe
nsed
in th
e ac
coun
ts a
nd re
pres
ents
inte
rest
cha
rged
an
d ac
crue
d fo
r the
yea
r end
ed 3
0 J
une
20
15
.
Tota
l loa
n fa
cilit
y fo
r the
Wem
bley
Gol
f Co
urse
Dri
ving
Ran
ge, P
ro-s
hop
and
Infr
astr
uctu
re D
evel
opm
ent i
s fo
r $14
.7 m
illio
n ($
10
.8 m
illio
n fr
om W
ATC,
$3
.9
mill
ion
ELA
). T
he d
evel
opm
ent h
as b
een
com
plet
ed.
Inte
rest
Rat
e Ri
sk
Loan
No.
1 -
Irri
gati
on S
yste
m –
Wem
bley
Gol
f Co
urse
The
Tow
n’s
expo
sure
to in
tere
st ra
te ri
sk is
min
imis
ed a
s th
e lo
an is
a fi
ve y
ear t
erm
lo
an w
ith
a fi
xed
inte
rest
rate
dur
ing
that
per
iod
of 3
.43
% p
er a
nnum
. Th
e in
tere
st
paya
ble
as a
resu
lt o
f bo
rrow
ings
is a
s fo
llow
s:
30 J
une
2015
30 J
une
2014
$$
Fixe
d In
tere
st ra
te m
atur
ing
- w
ithin
one
yea
r 6
3,55
3 5
9,08
1
- w
ithin
one
to fi
ve y
ears
156
,628
1
80,9
88
220,
181
240,
069
Loan
No.
3 -
Dri
ving
Ran
ge, P
ro-s
hop
and
Infr
astr
uctu
re D
evel
opm
ent -
Wem
bley
G
olf
Cour
se
The
Tow
n’s
expo
sure
to in
tere
st ra
te ri
sk is
min
imis
ed a
s th
e lo
an is
a fi
ve y
ear t
erm
lo
an w
ith
a fi
xed
inte
rest
rate
dur
ing
that
per
iod
of 2
.93
% p
er a
nnum
. Th
e in
tere
st
paya
ble
as a
resu
lt o
f bo
rrow
ings
as
follo
ws:
30 J
une
2015
30 J
une
2014
$$
Fixe
d In
tere
st ra
te m
atur
ing
- w
ithin
one
yea
r 3
72,0
70
286
,465
- w
ithin
one
to fi
ve y
ears
-
324
,550
372,
070
611,
015
HP
Loan
- A
dmin
istr
atio
n Tr
ansp
orta
ble
Offi
ce
The
Tow
n’s
expo
sure
to in
tere
st ra
te ri
sk is
min
imis
ed a
s th
e hi
re p
urch
ase
agre
emen
t is
for a
five
yea
r ter
m w
ith
a fi
xed
inte
rest
rate
dur
ing
that
per
iod
of
6.9
9%
per
ann
um.
The
inte
rest
pay
able
as
a re
sult
of
the
agre
emen
t is
as f
ollo
ws:
30 J
une
2015
30 J
une
2014
$$
Fixe
d In
tere
st ra
te m
atur
ing
- w
ithin
one
yea
r 2
,179
3
,400
- w
ithin
one
to fi
ve y
ears
880
3
,059
3,05
9 6,
459
Loan
No.
4 -
Acq
uisi
tion
of
Sout
hpor
t Str
eet
The
Tow
n’s
expo
sure
to in
tere
st ra
te ri
sk is
min
imis
ed a
s th
e lo
an is
for
a th
ree
year
te
rm w
ith
a fi
xed
inte
rest
rate
dur
ing
that
per
iod
of 3
.85
% p
er a
nnum
. Th
e in
tere
st
paya
ble
is b
eing
cap
ital
ised
aga
inst
the
loan
and
will
be
paya
ble
upon
mat
urit
y of
the
loan
as
a re
sult
of
the
agre
emen
t as
follo
ws:
30 J
une
2015
30 J
une
2014
$$
Fixe
d In
tere
st ra
te m
atur
ing
- w
ithin
one
yea
r 4
7,27
3 1
14,1
36
- w
ithin
one
to fi
ve y
ears
189
,093
-
236,
366
114,
136
80 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
13.
PRO
PERT
Y, P
LAN
T &
EQ
UIP
MEN
T, IN
FRA
STRU
CTU
RE A
SSET
S(a
) Ca
rryi
ng A
mou
nts
of A
sset
s by
Cla
ssifi
cati
on
30 J
une
2015
30 J
une
2014
$$
Land
-
Inde
pend
ent V
aluat
ion
2014
63,
856,
052
64,
420,
450
63,
856,
052
64,
420,
450
Build
ings
-
Inde
pend
ent V
aluat
ion
2014
53,
031,
000
54,
671,
000
- A
dditio
ns a
fter v
aluat
ion
- Co
st 2
,363
,657
3
20,3
78
Less
: Ac
cum
ulat
ed D
epre
ciatio
n (2
,628
,176
) (8
67,4
26)
52,
766,
481
54,
123,
952
Offic
e Fu
rnitu
re a
nd E
quip
men
t -
Man
agem
ent V
aluat
ion
2014
1,7
82,6
77
1,7
83,5
76
- A
dditio
ns a
fter v
aluat
ion
- Co
st 1
,299
,494
6
54,9
61
Less
: Ac
cum
ulat
ed D
epre
ciatio
n (5
74,9
38)
(79,
541)
2,5
07,2
33
2,3
58,9
96
Exte
rnal
Pla
nt a
nd E
quip
men
t -
Man
agem
ent V
aluat
ion
2013
1,9
08,9
37
2,3
50,7
47
- A
dditio
ns a
fter v
aluat
ion
- Co
st 1
,473
,133
6
76,3
99
Less
: Ac
cum
ulat
ed D
epre
ciatio
n (6
48,4
26)
(398
,718
) 2
,733
,644
2
,628
,428
Pa
rks
and
Rese
rves
- M
anag
emen
t Valu
atio
n 20
15 7
2,26
9,07
5 -
-
Cos
t -
6
8,98
5,57
3 Le
ss:
Accu
mul
ated
Dep
recia
tion
(17,
445,
762)
(18,
797,
355)
54,
823,
313
50,
188,
218
Road
s an
d La
nes
- M
anag
emen
t Valu
atio
n 20
15 1
27,9
82,1
80
-
- C
ost
-
85,
035,
822
Less
: Ac
cum
ulat
ed D
epre
ciatio
n (7
6,60
0,79
6) (3
4,71
0,46
7) 5
1,38
1,38
4 4
7,32
5,35
5
30 J
une
2015
30 J
une
2014
$$
Drai
nage
-
Man
agem
ent V
aluat
ion
2015
28,
785,
509
-
- C
ost
-
25,
959,
626
Less
: Ac
cum
ulat
ed D
epre
ciatio
n (1
3,70
1,12
4) (1
8,68
4,58
3) 1
5,08
4,38
5 7
,275
,043
Fo
otpa
ths
- M
anag
emen
t Valu
atio
n 20
15 2
8,70
8,87
5 -
-
Cos
t -
1
2,33
4,00
5 Le
ss:
Accu
mul
ated
Dep
recia
tion
(8,7
00,1
84)
(3,6
85,7
77)
20,
008,
691
8,6
48,2
28
Othe
r Inf
rast
ruct
ure
- M
anag
emen
t Valu
atio
n 20
15 1
,216
,125
-
-
Cos
t -
8
99,7
94
Less
: Ac
cum
ulat
ed D
epre
ciatio
n (8
97,0
05)
(567
,028
) 3
19,1
20
332
,766
W
ork
in P
rogr
ess
Build
ings
20,
485,
010
4,7
15,9
97
Park
s an
d Re
serv
es 7
50,9
39
479
,219
Ro
ads
and
Lane
s 1
38,3
84
1,5
55,7
74
Drain
age
183
,436
1
62,4
08
Foot
path
s 3
,055
5
8,45
2 Ot
her I
nfra
stru
ctur
e 1
02,1
96
205
,527
2
1,66
3,02
0 7
,177
,377
Tota
l Pro
pert
y, Pl
ant a
nd E
quip
men
t an
d In
fras
truc
ture
285
,143
,323
2
44,4
78,8
13
81Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
13.
PRO
PERT
Y, P
LAN
T &
EQ
UIP
MEN
T, IN
FRA
STRU
CTU
RE A
SSET
S (c
onti
nued
)
(a)
Mov
emen
t Car
ryin
g A
mou
nts
Mov
emen
ts in
the
carr
ying
am
ount
s fo
r eac
h cl
ass
of p
rope
rty,
pla
nt, e
quip
men
t and
infr
astr
uctu
re a
sset
s be
twee
n th
e be
ginn
ing
and
end
of th
e cu
rren
t fina
ncia
l yea
r.
Not
e: W
ork
in P
rogr
ess
Add
itio
ns o
f $
17.9
mill
ion
incl
ude
build
ing
wor
ks o
f $
9.4
mill
ion
for t
he C
ity
Bea
ch S
urf
Club
room
s an
d Co
mm
erci
al D
evel
opm
ent a
nd $
6.7
mill
ion
for t
he B
old
Park
A
quat
ic C
entr
e Re
deve
lopm
ent P
roje
ct. Land
(Lev
el 3
)
Non-
Spec
ialis
ed
Build
ings
(L
evel
3)
Spec
ialis
ed
Build
ings
(L
evel
3)Bu
ildin
gs
(Lev
el 3
)
Plan
t &
Equi
pmen
t (L
evel
3)
Furn
iture
&
Equi
pmen
t (L
evel
3)
Park
s &
Rese
rves
(L
evel
3)
Road
s &
Lane
s (L
evel
3)
Drai
nage
(L
evel
3)
Foot
path
s (L
evel
3)
Othe
r In
frast
ruct
ure
(Lev
el 3
)W
ork
in
Prog
ress
Tota
l
Balan
ce a
t Beg
inni
ng a
t yea
r64
,420
,450
24
,294
,251
29
,829
,701
54
,123
,952
2,
628,
428
2,35
8,99
6 50
,188
,218
47
,325
,355
7,
275,
043
8,64
8,22
8 33
2,76
6 7,
177,
377
244,
478,
813
Addi
tions
- 54
4,65
9 41
7,50
4 96
2,16
2 63
7,10
7 64
3,73
3 1,
887,
693
1,83
0,34
5 70
9,97
8 1,
604,
368
66,6
44
17,8
70,4
19
26,2
12,4
49
Tran
sfer
s fro
m W
IP-
433,
223
647,
895
1,08
1,11
7 20
5,52
7 -
453,
688
1,52
1,30
2 54
,162
58
,452
-
(3,3
74,2
48)
-
Disp
osals
- (1
0,76
7)(8
17,5
53)
(828
,320
)(3
21,7
96)
(6)
(35,
134)
(11,
466)
- (1
21,8
86)
(8,5
53)
- (1
,327
,160
)
Writ
e of
f of A
sset
s to
Pro
fit &
Los
s-
- -
- -
- -
- -
- -
(10,
528)
(10,
528)
Depr
eciat
ion
Expe
nse
- (1
,057
,829
)(8
07,7
33)
(1,8
65,5
62)
(415
,622
)(4
95,4
90)
(1,6
24,9
15)
(1,9
72,4
44)
(286
,386
)(2
27,0
35)
(20,
563)
- (6
,908
,016
)
Asse
t Rev
alued
(564
,398
)10
,767
(7
17,6
36)
(706
,868
)-
- 3,
953,
762
2,68
8,29
1 7,
331,
589
10,0
46,5
63
(51,
174)
- 22
,697
,765
Carr
ying
Am
ount
at e
nd o
f yea
r63
,856
,052
24
,214
,304
28
,552
,178
52
,766
,481
2,
733,
644
2,50
7,23
3 54
,823
,312
51
,381
,383
15
,084
,386
20
,008
,690
31
9,12
0 21
,663
,020
28
5,14
3,32
3
82 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
13.
PRO
PERT
Y, P
LAN
T, E
QU
IPM
ENT,
INFR
AST
RUCT
URE
ASS
ETS
(c
onti
nued
)
(c
)
Infr
astr
uctu
re A
sset
s
The
Tow
n re
valu
ed it
s in
fras
truc
ture
ass
ets
as a
t 30
Jun
e 2
01
5.
A m
ixtu
re o
f in
-hou
se s
taff
and
con
sult
ants
wer
e us
ed to
car
ry o
ut th
e ta
sk o
f va
luin
g it
s in
fras
truc
ture
ass
ets
at 3
0 J
une
20
15
as
follo
ws:
• Ro
ads
- In
tern
al a
nd E
xter
nal V
alua
tion
;•
Dra
inag
e –
Inte
rnal
and
Ext
erna
l Val
uati
on;
• Fo
otpa
ths
– In
tern
al a
nd E
xter
nal V
alua
tion
;•
Park
s –
Inte
rnal
Val
uati
on;
• B
us S
helt
ers
– In
tern
al V
alua
tion
;•
Exte
rnal
Lig
htin
g –
Inte
rnal
Val
uati
on;
• Ca
r Par
ks –
Inte
rnal
and
Ext
erna
l Val
uati
on;
• W
aste
Wat
er P
lant
– In
tern
al V
alua
tion
;
The
rem
aini
ng li
fe a
nd u
sefu
l lif
e fo
r:
• se
aled
road
sur
face
s an
d dr
aina
ge o
r sto
rmw
ater
ass
ets
wer
e as
sess
ed
by
AIM
Con
sult
ants
Eng
inee
rs;
• ca
r par
ks w
ere
revi
ewed
by
Gri
ffin
Valu
atio
n A
dvis
ory;
• al
l oth
er in
fras
truc
ture
ass
ets
wer
e as
sess
ed b
y of
fice
rs o
f th
e To
wn.
The
valu
atio
n m
etho
dolo
gy e
mpl
oyed
by
the
Tow
n in
val
uing
its
infr
astr
uctu
re a
sset
s w
as in
depe
nden
tly
revi
ewed
by
Gri
ffin
Valu
atio
n A
dvis
ory.
Cost
App
roac
h
Wit
h re
spec
t to
fair
val
ue, t
he a
ccou
ntin
g gu
idel
ines
pro
pose
that
eit
her
a m
arke
t cos
t or i
ncom
e ap
proa
ch b
e ta
ken.
As
an a
ctiv
e m
arke
t doe
s no
t ex
ist f
or in
fras
truc
ture
ass
ets
to e
nabl
e fa
ir v
alue
or m
arke
t val
ue to
be
esta
blis
hed,
the
depr
ecia
ted
repl
acem
ent c
ost i
s to
be
take
n as
“Fa
ir V
alue
”,
in a
ccor
danc
e w
ith
Acc
ount
ing
Stan
dard
AA
SB 1
16.
Ther
efor
e th
e co
st
appr
oach
was
dee
med
to b
e th
e m
ost a
ppro
pria
te m
etho
d of
val
uati
on to
de
term
ine
the
depr
ecia
ted
repl
acem
ent c
ost.
The
cos
t app
roac
h us
es a
co
mbi
nati
on o
f re
plac
emen
t cos
t of
an a
sset
est
imat
ed u
sing
cur
rent
pri
ces
and
rem
aini
ng u
sefu
l lif
e es
tim
ated
by
dete
rmin
ing
its
curr
ent c
ondi
tion
.
Ass
et re
plac
emen
t cos
t inv
olve
d de
term
inin
g th
e gr
oss
repl
acem
ent v
alue
of
asse
ts o
n th
e ba
sis
of re
plac
ing
a ne
w a
sset
hav
ing
sim
ilar s
ervi
ce p
oten
tial
. Th
e gr
oss
repl
acem
ent v
alue
uni
t rat
es w
ere
deri
ved
from
refe
renc
e to
co
stin
g gu
idel
ines
issu
ed b
y Ra
wlin
son’
s (A
ustr
alia
n Co
nstr
ucti
on H
andb
ook)
an
d T
own
sour
ces
(cos
ting
s fr
om re
cent
ly c
ompl
eted
cap
ital
wor
ks p
roje
cts)
.
In o
rder
to d
eter
min
e th
e as
set’
s re
mai
ning
use
ful l
ife,
con
diti
on a
sses
smen
ts
wer
e un
dert
aken
bas
ed o
n pu
blis
hed
stan
dard
s su
ch a
s th
e N
atio
nal A
sset
M
anag
emen
t Sys
tem
(N
AM
S) P
ract
ice
note
s an
d In
tern
atio
nal I
nfra
stru
ctur
e M
anag
emen
t Man
ual g
uide
lines
, usi
ng th
e sk
ills
of e
xper
ienc
ed e
ngin
eeri
ng
and
oper
atio
nal s
taff
. A
sset
con
diti
ons
wer
e ra
ted
usin
g a
1 to
5 ra
ting
sy
stem
as
reco
mm
ende
d by
the
Inst
itut
e of
Pub
lic W
orks
Eng
inee
rs (
IPW
EA)
and
NA
MS
guid
elin
es, w
here
1 re
pres
ente
d “a
s ne
w”
cond
itio
n an
d a
rati
ng o
f 5
repr
esen
ted
“ver
y po
or”
cond
itio
n.
The
cost
app
roac
h w
as u
sed
for v
alua
tion
of
all i
nfra
stru
ctur
e as
sets
wit
h th
e ex
cept
ion
of a
car
par
k in
Lee
derv
ille
whi
ch c
ompr
ises
of
park
ing
met
ers
and
was
ass
esse
d on
an
inco
me
base
d ap
proa
ch b
y ex
tern
al v
alue
rs, G
riffi
n Va
luat
ion.
Dat
a Re
liabi
lity
and
Deg
ree
of C
onfi
denc
e
Inpu
ts m
ay b
e ob
serv
able
or u
nobs
erva
ble
and
are
posi
tion
ed in
the
hier
arch
y as
fol
low
s:
• Le
vel 1
inpu
ts -
Quo
ted
pric
es (
unad
just
ed)
in a
ctiv
e m
arke
ts f
or id
enti
cal
asse
ts o
r lia
bilit
ies
that
the
enti
ty c
an a
cces
s at
the
mea
sure
men
t dat
e.
• Le
vel 2
inpu
ts -
Inpu
ts o
ther
than
quo
ted
pric
es in
clud
ed w
ithi
n Le
vel 1
th
at a
re o
bser
vabl
e fo
r the
ass
et o
r lia
bilit
y, e
ithe
r dir
ectl
y or
indi
rect
ly.
• Le
vel 3
inpu
ts -
Uno
bser
vabl
e in
puts
for
the
asse
t or l
iabi
lity.
83Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
13.
PRO
PERT
Y, P
LAN
T, E
QU
IPM
ENT,
INFR
AST
RUCT
URE
ASS
ETS
(con
tinu
ed)
(c
)
Infr
astr
uctu
re A
sset
s
The
valu
atio
n of
eac
h as
set c
lass
was
indi
vidu
ally
revi
ewed
in te
rms
of
data
relia
bilit
y an
d co
nfide
nce
in th
at d
ata
asso
ciat
ed w
ith
cond
itio
n an
d va
luat
ion.
Dat
a re
liabi
lity
and
accu
racy
was
mea
sure
d us
ing
the
follo
win
g ra
ting
s:
• A
– H
ighl
y re
liabl
e –
data
bas
ed o
n so
und
reco
rds,
pro
cedu
res,
in
vest
igat
ion
and
anal
ysis
etc
.
• B
– R
elia
ble
– da
ta b
ased
on
soun
d re
cord
s, p
roce
dure
s et
c. b
ut h
ave
min
or s
hort
com
ings
, for
exa
mpl
e da
ta is
old
, som
e do
cum
enta
tion
is
mis
sing
etc
.
• C
– U
ncer
tain
– d
ata
base
d on
reco
rds,
pro
cedu
re, i
nves
tiga
tion
ban
d an
alys
is, w
hich
is in
com
plet
e or
uns
uppo
rted
etc
.
• D
– N
o re
liabl
e da
ta
Dat
a ob
tain
ed f
or a
ll in
fras
truc
ture
ass
et c
lass
es w
as ra
ted
as “
B”
relia
ble
wit
h th
e ex
cept
ion
of d
rain
age
(sto
rm w
ater
pip
es, e
tc.)
and
irri
gati
on w
hich
re
ceiv
ed a
“C”
unc
erta
in ra
ting
.
Not
all
asse
t com
pone
nts
wer
e ab
le to
be
phys
ical
ly in
spec
ted
such
as
the
cond
itio
n of
und
erly
ing
road
bas
e, s
torm
wat
er p
ipes
etc
. A
ccor
ding
ly, a
ll cl
asse
s w
ere
give
n a
“Lev
el 3
inpu
t” ra
ting
.
Reva
luat
ion
Out
com
e
Giv
en th
e as
sum
ptio
ns th
at h
ave
been
use
d in
arr
ivin
g at
the
fair
val
ue,
infr
astr
uctu
re a
sset
s w
ere
deem
ed to
hav
e be
en v
alue
d us
ing
Leve
l 3 in
puts
in
the
fair
val
ue h
iera
rchy
. Th
e re
valu
atio
n re
sult
ed in
an
over
all i
ncre
ase
of
$2
3.9
mill
ion
whi
ch h
as b
een
book
ed to
ass
et re
valu
atio
n su
rplu
s.
(d)
Bold
Par
k Tr
ansf
er o
f Ti
tle
– La
nd P
roce
eds
In M
ay 1
99
8 th
e St
ate
Gov
ernm
ent p
aid
the
Tow
n th
e su
m o
f $
6.5
mill
ion
in a
dvan
ce, w
ith
resp
ect t
o th
e sa
le o
f la
nd a
t For
tvie
w R
oad,
Whi
tney
Cr
esce
nt a
nd R
ochd
ale
Road
, Mt C
lare
mon
t are
as k
now
n as
“F”
and
“G
” an
d as
com
pens
atio
n fo
r the
cre
atio
n an
d en
dow
men
t of
Bol
d Pa
rk.
In th
e ev
ent t
hat t
he s
ale
proc
eeds
of
the
land
exc
eed
$1
1.5
mill
ion,
the
Tow
n is
to
rece
ive
a fu
rthe
r 50
per
cen
t of
that
por
tion
exc
eedi
ng $
11
.5 m
illio
n.
Are
a “F
” w
as o
n-so
ld b
y th
e St
ate
Gov
ernm
ent t
o La
ndco
rp, a
Gov
ernm
ent
agen
cy, f
or $
3.7
mill
ion.
The
sta
tus
of a
rea
“G”
was
in d
ispu
te w
ith
the
Stat
e G
over
nmen
t con
cern
ing
the
fina
ncia
l arr
ange
men
ts w
ith
resp
ect t
o th
e tr
ansa
ctio
n. T
he S
tate
Gov
ernm
ent c
onfi
rmed
that
the
arra
ngem
ents
ac
cord
ing
to th
e To
wn’
s un
ders
tand
ing
are
agre
ed.
A D
eed
was
sig
ned
in
Sept
embe
r 20
11
for
mal
isin
g th
e ar
rang
emen
ts.
Land
corp
will
be
resp
onsi
ble
for d
evel
opin
g th
e la
nd.
(e)
Fo
rmer
Nur
sery
Sit
e -
Salv
ado
Road
Jol
imon
t
The
Tow
n en
tere
d in
to a
sal
e ag
reem
ent i
n A
pril
20
13 w
ith
Land
corp
to
fac
ilita
te th
e de
velo
pmen
t of
the
form
er N
urse
ry S
ite
loca
ted
in S
alva
do
Road
, Jol
imon
t. U
nder
this
con
trac
t the
Tow
n w
ill re
ceiv
e 6
0%
of
the
net
sale
pro
ceed
s. A
n ad
vanc
e pa
ymen
t was
rece
ived
and
boo
ked
duri
ng th
e 2
01
2/2
013
fina
ncia
l yea
r. A
n O
utlin
e D
evel
opm
ent P
lan
was
pre
pare
d by
La
ndco
rp f
or th
e si
te w
hich
was
pub
licly
adv
erti
sed
and
adop
ted
by th
e To
wn
in D
ecem
ber 2
014
. Th
e pl
an h
as s
ince
bee
n ap
prov
ed b
y th
e W
este
rn
Aus
tral
ian
Plan
ning
Com
mis
sion
in J
une
20
15
and
dev
elop
men
t of
the
site
ca
n no
w c
omm
ence
. Cou
ncil
will
con
side
r at i
ts S
epte
mbe
r Cou
ncil
mee
ting
to
pro
ceed
wit
h de
velo
pmen
t in
conj
unct
ion
wit
h La
ndco
rp.
(f)
O
ther
Sig
nifi
cant
Dis
posa
ls
Ther
e w
ere
no s
igni
fica
nt d
ispo
sals
of
non-
curr
ent a
sset
s du
ring
the
20
14/2
01
5 fi
nanc
ial y
ear.
84 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
14.
RESE
RVES
AN
D C
AM
BRID
GE
END
OW
MEN
T LA
ND
S A
CCO
UN
TA
s at
30
Jun
e 2
01
5 th
e To
wn
of C
ambr
idge
mai
ntai
ned
rese
rves
for
var
ious
pu
rpos
es re
lati
ng to
the
prov
isio
n of
fac
iliti
es a
nd a
men
itie
s th
roug
hout
the
Tow
n.
(a)
Are
a Im
prov
emen
t Res
erve
Th
is re
serv
e w
as e
stab
lishe
d to
pro
vide
fun
ds f
or th
e ac
quis
itio
n an
d de
velo
pmen
t of
asse
ts, e
xclu
ding
com
mun
ity
recr
eati
on f
acili
ties
, or t
he
prov
isio
n of
ser
vice
s th
at a
re in
the
view
of
the
Tow
n be
nefi
cial
and
to
prov
ide
impr
ovem
ents
to a
reas
wit
hin
the
dist
rict
of
the
Tow
n.
(b)
Com
mun
ity
Faci
litie
s Re
serv
e
Th
is re
serv
e w
as e
stab
lishe
d to
pro
vide
fun
ds f
or th
e ac
quis
itio
n an
d de
velo
pmen
t of
com
mun
ity
faci
litie
s in
the
Tow
n.
(c)
Ass
et M
anag
emen
t Res
erve
Th
is re
serv
e w
as e
stab
lishe
d to
pro
vide
a s
ourc
e of
fun
ds f
or f
utur
e as
set r
epla
cem
ent i
nclu
ding
pla
nt a
nd e
quip
men
t, h
avin
g re
gard
to th
e de
prec
iati
ng n
atur
e of
non
-cur
rent
ass
ets.
The
am
ount
in th
is re
serv
e is
to b
e ac
cum
ulat
ed o
ver t
he u
sefu
l lif
e of
the
asse
ts a
nd e
xpen
ded
on
repl
acem
ent a
s co
nsid
ered
app
ropr
iate
.
(d)
Was
te M
anag
emen
t Res
erve
Th
is re
serv
e w
as e
stab
lishe
d to
pro
vide
fun
ds f
or th
e pr
ovis
ion
of w
aste
m
anag
emen
t ser
vice
s in
clud
ing
recy
clin
g. T
hese
ser
vice
s m
ay in
clud
e ac
quis
itio
n of
ass
ets
such
as
land
, bui
ldin
gs, p
lant
and
equ
ipm
ent,
mob
ile
rubb
ish
bins
etc
.
(e)
Club
s an
d A
ssoc
iati
ons
Rese
rves
(i)
Club
s an
d A
ssoc
iati
ons
- B
uild
ings
Th
is re
serv
e w
as e
stab
lishe
d in
acc
orda
nce
wit
h th
e To
wn’
s ne
w
com
mun
ity
leas
ing
polic
y to
pro
vide
fun
ding
for
ong
oing
bui
ldin
g m
aint
enan
ce f
or th
e va
riou
s fa
cilit
ies.
Con
trib
utio
ns a
re m
ade
by b
oth
the
Tow
n an
d th
e Co
mm
unit
y A
ssoc
iati
ons
and
held
by
the
Tow
n fo
r thi
s pu
rpos
e.
(ii)
Clu
bs a
nd A
ssoc
iati
ons
- Sy
nthe
tic
Cour
t and
Lig
htin
gs
Th
is re
serv
e w
as e
stab
lishe
d in
acc
orda
nce
wit
h th
e To
wn’
s ne
w
com
mun
ity
leas
ing
polic
y to
pro
vide
repl
acem
ent o
f sy
nthe
tic
cour
ts
and
light
ing
infr
astr
uctu
re w
here
app
licab
le.
Cont
ribu
tion
s ar
e m
ade
by
both
the
Tow
n an
d Co
mm
unit
y A
ssoc
iati
ons
and
held
by
the
Tow
n fo
r thi
s pu
rpos
e.
(iii)
Clu
bs a
nd A
ssoc
iati
ons
- Ca
r Par
ks a
nd S
urro
undi
ngs
Th
is re
serv
e w
as e
stab
lishe
d in
acc
orda
nce
wit
h th
e To
wn’
s ne
w
com
mun
ity
leas
ing
polic
y to
pro
vide
for
the
repl
acem
ent o
f ca
r par
ks a
nd
surr
ound
ings
whe
re a
pplic
able
. Co
ntri
buti
ons
are
mad
e by
bot
h th
e To
wn
and
Com
mun
ity
Ass
ocia
tion
s an
d he
ld b
y th
e To
wn
for t
his
purp
ose.
(f)
Dev
elop
men
t Con
trib
utio
ns R
eser
ves
Th
e To
wn
unde
r its
“To
wn
Plan
ning
Sch
eme”
, has
a re
quir
emen
t for
de
velo
pers
to m
ake
a “c
ash
in li
eu o
f pa
rkin
g” c
ontr
ibut
ion,
as
part
of
its
plan
ning
app
rova
l pro
cess
whe
re it
is e
vide
nt th
at th
ere
are
insu
ffici
ent
park
ing
faci
litie
s be
ing
prov
ided
. Th
e “C
ash
in li
eu o
f pa
rkin
g” c
ontr
ibut
ion
will
dif
fer d
epen
ding
in w
hich
pre
cinc
t the
con
stru
ctio
n is
taki
ng p
lace
. To
en
able
con
trib
utio
ns to
be
appr
opri
atel
y m
onit
ored
and
acq
uitt
ed, a
sub
-re
serv
e ha
s be
en c
reat
ed f
or e
ach
prec
inct
.
(g)
Cam
brid
ge E
ndow
men
t Lan
ds A
ccou
nt
Th
e Ca
mbr
idge
End
owm
ent L
and
Act
19
20
(Se
ctio
n 4
1(1
)) re
quir
es a
n “E
ndow
men
t Lan
ds A
ccou
nt”
to b
e es
tabl
ishe
d. T
he p
roce
eds
of s
ale
of la
nd
in th
e En
dow
men
t Lan
ds a
rea
are
to b
e cr
edit
ed to
this
acc
ount
. Th
e fu
nds
held
in th
is a
ccou
nt m
ust b
e ex
pend
ed f
or th
e de
velo
pmen
t of
the
land
in th
e En
dow
men
t Lan
ds a
rea.
Th
e re
serv
e fu
nds
and
Cam
brid
ge E
ndow
men
t Lan
ds A
ccou
nt w
ill b
e ut
ilise
d as
and
whe
n th
e ne
ed a
rise
s. T
he a
sset
man
agem
ent r
eser
ve a
nd a
rea
impr
ovem
ent r
eser
ve a
re u
sed
on a
n on
goin
g ba
sis.
Oth
er re
serv
es w
ill b
e us
ed f
or s
peci
fic
proj
ects
as
and
whe
n re
quir
ed.
85Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
14.
RESE
RVES
AN
D C
AM
BRID
GE
END
OW
MEN
T LA
ND
S A
CCO
UN
T
(c
onti
nued
) RESE
RVES
30 J
une
2015
Ac
tual
30 J
une
2015
Bu
dget
30 J
une
2014
Ac
tual
$$
$(a
) Ar
ea Im
prov
emen
tOp
enin
g Ba
lance
1 J
uly
765
,401
1
,145
,400
3
,322
,704
Tran
sfer
from
Acc
umul
ated
Sur
plus
2,6
32,5
16
2,5
89,5
00
875
,043
Tran
sfer
to A
ccum
ulat
ed S
urpl
us (1
,688
,629
) (2
,491
,500
) (3
,432
,346
)
Clos
ing
Balan
ce 3
0 Ju
ne 1
,709
,288
1
,243
,400
7
65,4
01
(b)
Com
mun
ity F
acili
ties
Open
ing
Balan
ce 1
Jul
y 1
,097
,441
(1
08,8
00)
-
Tran
sfer
from
Acc
umul
ated
Sur
plus
46,
102
35,
600
1,2
94,9
03
Tran
sfer
to A
ccum
ulat
ed S
urpl
us (1
88,8
73)
(122
,300
) (1
97,4
62)
Clos
ing
Balan
ce 3
0 Ju
ne 9
54,6
70
(195
,500
) 1
,097
,441
(c)
Asse
t Man
agem
ent
Open
ing
Balan
ce 1
Jul
y 9
99,7
76
797
,100
8
99,0
75
Tran
sfer
from
Acc
umul
ated
Sur
plus
999
,611
7
14,3
00
902
,344
Tran
sfer
to A
ccum
ulat
ed S
urpl
us (1
,042
,551
) (1
,521
,000
) (8
01,6
43)
Clos
ing
Balan
ce 3
0 Ju
ne 9
56,8
36
(9,6
00)
999
,776
(d)
Was
te M
anag
emen
tOp
enin
g Ba
lance
1 J
uly
446
4
,600
-
Tran
sfer
from
Acc
umul
ated
Sur
plus
312
,000
3
12,0
00
549
,160
Tran
sfer
to A
ccum
ulat
ed S
urpl
us (2
9,34
5) (2
0,00
0) (5
48,7
14)
Clos
ing
Balan
ce 3
0 Ju
ne 2
83,1
01
296
,600
4
46
(e)
Club
s an
d As
soci
atio
nsOp
enin
g Ba
lance
1 J
uly
746
,098
7
41,0
00
379
,326
Tran
sfer
from
Acc
umul
ated
Sur
plus
626
,226
5
95,0
00
533
,744
Tran
sfer
to A
ccum
ulat
ed S
urpl
us (4
95,5
44)
(511
,000
) (1
66,9
72)
Clos
ing
Balan
ce 3
0 Ju
ne 8
76,7
80
825
,000
7
46,0
98
RESE
RVES
30 J
une
2015
Ac
tual
30 J
une
2015
Bu
dget
30 J
une
2014
Ac
tual
$$
$(f)
Deve
lopm
ent C
ontr
ibut
ions
- P
arki
ngOp
enin
g Ba
lance
1 J
uly
432
,000
1
87,5
00
-
Tran
sfer
from
Acc
umul
ated
Sur
plus
500
,750
8
5,10
0 4
74,3
31
Tran
sfer
to A
ccum
ulat
ed S
urpl
us -
-
(4
2,33
1)
Clos
ing
Balan
ce 3
0 Ju
ne 9
32,7
50
272
,600
4
32,0
00
(g)
Deve
lopm
ent C
ontr
ibut
ions
- P
ublic
Art
Open
ing
Balan
ce 1
Jul
y -
-
-
Tran
sfer
from
Acc
umul
ated
Sur
plus
55,
000
-
-
Tran
sfer
to A
ccum
ulat
ed S
urpl
us -
-
-
Clos
ing
Balan
ce 3
0 Ju
ne 5
5,00
0 -
-
Tota
l Res
erve
s 5
,768
,425
2
,432
,500
4
,041
,162
(h)
Cam
brid
ge E
ndow
men
t Lan
ds A
ccou
ntOp
enin
g Ba
lance
1 J
uly
27,
619,
352
9,1
21,8
00
9,5
10,2
72
Tran
sfer
from
Acc
umul
ated
Sur
plus
5,5
12,8
17
27,
090,
000
22,
091,
228
Tran
sfer
to A
ccum
ulat
ed S
urpl
us (1
6,09
7,28
5) (2
9,95
8,60
0) (3
,982
,148
)
Clos
ing
Balan
ce 3
0 Ju
ne 1
7,03
4,88
4 6
,253
,200
2
7,61
9,35
2
Tota
l Cam
brid
ge E
ndow
men
t Lan
ds A
ccou
nt 1
7,03
4,88
4 6
,253
,200
2
7,61
9,35
2
Tota
l 2
2,80
3,30
9 8
,685
,700
3
1,66
0,51
4
86 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
15.
ASS
ET R
EVA
LUAT
ION
SU
RPLU
S
Reva
luat
ion
surp
luse
s ha
ve a
rise
n on
reva
luat
ion
of th
e fo
llow
ing
clas
ses
of n
on-
curr
ent a
sset
s:
ASSE
T RE
VALU
ATIO
N SU
RPLU
S30
Jun
e 20
15
Actu
al30
Jun
e 20
14
Actu
al
$$
Land
Open
ing
Balan
ce 1
Jul
y 5
4,25
6,55
4 -
Reva
luat
ion
Incr
emen
t -
5
4,25
6,55
4
Reva
luat
ion
Decr
emen
t (5
64,3
98)
-
Clos
ing
Balan
ce 3
0 Ju
ne 5
3,69
2,15
6 5
4,25
6,55
4
Build
ings
Open
ing
Balan
ce 1
Jul
y 1
6,70
8,33
8 -
Reva
luat
ion
Incr
emen
t -
1
6,70
8,33
8
Reva
luat
ion
Decr
emen
t (7
06,8
68)
-
Clos
ing
Balan
ce 3
0 Ju
ne 1
6,00
1,47
0 1
6,70
8,33
8
Park
s an
d Re
serv
es
Open
ing
Balan
ce 1
Jul
y -
-
Reva
luat
ion
Incr
emen
t 3
,953
,762
-
Clos
ing
Balan
ce 3
0 Ju
ne 3
,953
,762
-
Road
s an
d La
nes
Open
ing
Balan
ce 1
Jul
y -
-
Reva
luat
ion
Incr
emen
t 2
,552
,374
-
Clos
ing
Balan
ce 3
0 Ju
ne 2
,552
,374
-
ASSE
T RE
VALU
ATIO
N SU
RPLU
S30
Jun
e 20
15
Actu
al30
Jun
e 20
14
Actu
al
$$
Drai
nage
Open
ing
Balan
ce 1
Jul
y -
-
Reva
luat
ion
Incr
emen
t 7
,331
,589
-
Clos
ing
Balan
ce 3
0 Ju
ne 7
,331
,589
-
Foot
path
s
Open
ing
Balan
ce 1
Jul
y -
-
Reva
luat
ion
Incr
emen
t 1
0,04
6,56
3 -
Clos
ing
Balan
ce 3
0 Ju
ne 1
0,04
6,56
3 -
Othe
r Inf
rast
ruct
ure
Open
ing
Balan
ce 1
Jul
y -
-
Reva
luat
ion
Incr
emen
t 8
4,74
3 -
Clos
ing
Balan
ce 3
0 Ju
ne 8
4,74
3 -
Tota
l Ass
et R
eval
uatio
n Re
serv
e 9
3,66
2,65
7 7
0,96
4,89
2
87Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
16.
NO
TES
TO T
HE
STAT
EMEN
T O
F CA
SH F
LOW
S(a
) Re
conc
iliat
ion
of C
ash
For t
he p
urpo
se o
f th
e St
atem
ent o
f Ca
sh F
low
s th
e To
wn
of C
ambr
idge
con
side
rs c
ash
to in
clud
e ca
sh o
n ha
nd a
nd in
ban
ks a
nd in
vest
men
ts n
et o
f ou
tsta
ndin
g ba
nk o
verd
raft
s. C
ash
at
the
end
of th
e re
port
ing
peri
od a
s sh
own
in th
e St
atem
ent o
f Ca
sh F
low
s is
reco
ncile
d to
the
rela
ted
item
s in
the
Stat
emen
t of
Fina
ncia
l Pos
itio
n as
fol
low
s:
30 J
une
2015
Actu
al30
Jun
e 20
15 B
udge
t30
Jun
e 20
14
Actu
al
$$
$
Cash
and
Cas
h Eq
uiva
lent
s32
,544
,972
12,1
93,5
0039
,601
,746
32,5
44,9
7212
,193
,500
39,6
01,7
46
(b
) Re
conc
iliat
ion
of N
et C
ash
Pr
ovid
ed b
y O
pera
ting
Act
ivit
ies
to O
pera
ting
Sur
plus
30 J
une
2015
Act
ual
30 J
une
2015
Bu
dget
30 J
une
2014
Act
ual
$$
$
Oper
atin
g Su
rplu
s/(D
efici
t) 1
2,11
8,12
5 1
2,34
0,50
0 2
0,84
3,81
8
Adju
stm
ent f
or it
ems
not i
nvol
ving
the
mov
emen
t of C
ash:
Chan
ge in
Equ
ity –
Joi
nt V
entu
re (2
,681
,147
) 1
20,0
00
(103
,452
)
Land
hel
d fo
r res
ale -
Tam
ala P
ark
209
,738
-
(1
38,3
02)
Asse
ts R
eclas
sified
an
expe
nsed
to
oper
atin
g 1
0,52
8 -
6
,361
Depr
eciat
ion/
Writ
e Do
wn 6
,908
,016
6
,698
,000
6
,500
,707
Reva
luat
ion
of F
urni
ture
and
Equ
ipm
ent
-
-
575
,016
Deva
luat
ion
of In
vest
men
t (8
8,72
0) -
1
84,5
31
Retir
emen
t of I
nfra
stru
ctur
e As
sets
and
Ass
et W
rite
Off
177
,039
-
7
25,9
64
Loss
/(Gain
) on
Sale
of P
rope
rty, P
lant a
nd E
quip
men
t (5
,384
,854
) (8
,465
,500
) (1
9,38
9,73
8)
11,
268,
725
10,
693,
000
9,2
04,9
05
30 J
une
2015
Actu
al30
Jun
e 20
15 B
udge
t30
Jun
e 20
14
Actu
al
$$
$
Reve
nues
Pro
vide
d by
Gov
ernm
ent a
nd O
ther
Pa
rtie
sGr
ants
/Con
tribu
tions
for t
he d
evel
opm
ent o
f ass
ets
(3,4
31,3
21)
(4,1
59,8
00)
(3,3
74,1
82)
(3,4
31,3
21)
(4,1
59,8
00)
(3,3
74,1
82)
Chan
ge in
Ope
ratin
g As
sets
and
Lia
bilit
ies
Add
Back
Incr
ease
/(Dec
reas
e) in
Acc
rued
Exp
ense
s 1
,510
,547
(7
00,0
00)
357
,644
Incr
ease
/(Dec
reas
e) in
Pro
visio
ns (1
3,30
6) 2
00,0
00
277
,669
Incr
ease
/(Dec
reas
e) in
Inco
me
in A
dvan
ce (2
43)
(140
,000
) 9
36
Incr
ease
/(Dec
reas
e) in
Acc
rued
Inco
me
(413
,953
) (3
00,0
00)
(302
,397
)
Incr
ease
/(Dec
reas
e) in
Deb
tors
269
,191
6
00,0
00
1,1
18,5
00
Incr
ease
/(Dec
reas
e) in
Pre
paym
ents
16,
952
(40,
000)
(83,
683)
Incr
ease
/(Dec
reas
e) in
Cre
dito
rs 2
74,2
43
500
,000
(8
59,6
40)
Incr
ease
/(Dec
reas
e) in
Sto
ck o
n Ha
nd (2
52,5
40)
860
,000
1
66,2
17
GST
Mov
emen
t 1
75,2
71
(91,
800)
141
,304
1,5
66,1
62
888
,200
8
16,5
50
Net C
ash
Prov
ided
by
Oper
atin
g Ac
tiviti
es 9
,403
,566
7
,421
,400
6
,647
,273
88 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
17.
SUPE
RAN
NU
ATIO
NTh
e To
wn
of C
ambr
idge
com
plie
s w
ith
the
min
imum
obl
igat
ions
und
er f
eder
al la
w
and
cont
ribu
tes
in re
spec
t of
its
empl
oyee
s to
one
of
the
follo
win
g su
pera
nnua
tion
pl
ans:
-
(a)
W.A
. Sup
er
The
Tow
n co
ntri
bute
s in
resp
ect o
f ce
rtai
n em
ploy
ees
to a
n ac
cum
ulat
ed
bene
fit s
uper
annu
atio
n fu
nd e
stab
lishe
d in
resp
ect o
f al
l Mun
icip
alit
ies
in
the
Stat
e. I
n ac
cord
ance
wit
h st
atut
ory
requ
irem
ents
, the
Tow
n co
ntri
bute
s to
the
W.A
. Sup
er a
mou
nts
nom
inat
ed b
y th
e To
wn.
As
such
, ass
ets
are
accu
mul
ated
in th
e Pl
an to
mee
t mem
bers
’ ben
efits
as
they
acc
rue.
No
liabi
lity
of th
e To
wn
has
been
reco
gnis
ed a
s at
the
repo
rtin
g da
te in
resp
ect
of s
uper
annu
atio
n be
nefi
ts f
or it
s em
ploy
ees.
(b)
City
of
Pert
h Su
pera
nnua
tion
Fun
d
The
Tow
n co
ntri
bute
s in
resp
ect o
f ce
rtai
n fo
rmer
Cit
y of
Per
th e
mpl
oyee
s to
a d
efine
d be
nefi
t sup
eran
nuat
ion
plan
. In
acc
orda
nce
wit
h st
atut
ory
requ
irem
ents
, the
Tow
n co
ntri
bute
s to
the
City
of
Pert
h Su
pera
nnua
tion
fu
nd (
“the
Pla
n”)
amou
nts
dete
rmin
ed b
y th
e pl
an a
ctua
ry in
resp
ect o
f co
ntri
buto
ry m
embe
rs.
In re
spec
t of
non-
cont
ribu
tory
mem
bers
, the
Tow
n co
ntri
bute
s at
the
min
imum
Aw
ard/
SGC
cont
ribu
tion
rate
. A
s su
ch, a
sset
s ar
e ac
cum
ulat
ed in
the
plan
to m
eet m
embe
rs’ b
enefi
ts a
s th
ey a
ccru
e.
The
amou
nt o
f su
pera
nnua
tion
con
trib
utio
n pa
id b
y th
e To
wn
duri
ng th
e re
port
ing
peri
od w
as $
1,7
58
,58
8 (
20
14: $
1,6
32
,57
2).
City
of P
erth
Su
per F
und
W.A
. Sup
erOt
her
Tota
l
$$
$$
Supe
rann
uatio
n Gu
aran
tee
Char
ge75
,840
1,
029,
732
298,
798
1,40
4,37
0
Cont
ribut
ory
Sche
me
39,9
16
290,
353
-
330,
269
Defin
ed23
,949
-
-
23
,949
139,
705
1,32
0,08
5 29
8,79
8 1,
758,
588
18.
CON
TIN
GEN
T LI
ABI
LITI
ES
Min
dari
e Re
gion
al C
ounc
il
The
Tow
n of
Cam
brid
ge is
a m
embe
r of
the
Min
dari
e Re
gion
al C
ounc
il. T
he M
inda
rie
Regi
onal
Cou
ncil
has
esta
blis
hed
a Re
sour
ce R
ecov
ery
Faci
lity
at N
eera
bup.
A re
quir
emen
t of
the
proj
ect t
o su
ccee
d is
the
sign
ing
of a
Fin
anci
al G
uara
ntee
“D
eed
of G
uara
ntee
” by
all
seve
n m
embe
r Cou
ncils
to s
atis
fy fi
nanc
ial s
ecur
ity
requ
irem
ents
by
the
cont
ract
or u
nder
taki
ng th
e pr
ojec
t. A
t a S
peci
al C
ounc
il M
eeti
ng h
eld
on 1
1 S
epte
mbe
r 20
07, t
he T
own
acce
pted
a m
axim
um e
xpos
ure
unde
r the
Dee
d of
Gua
rant
ee o
f $
7.3
3 m
illio
n. T
he p
roba
bilit
y of
the
Dee
d of
G
uara
ntee
cry
stal
lisin
g is
ver
y lo
w.
The
Dee
d of
Gua
rant
ee w
ill o
nly
crys
talli
se if
:
(a)
The
Min
dari
e Re
gion
al C
ounc
il is
una
ble
to m
eet t
he p
aym
ents
and
ther
e is
a
Min
dari
e Re
gion
al C
ounc
il de
faul
t und
er th
e Re
sour
ce R
ecov
ery
Faci
lity
Agr
eem
ent (
RR
FA);
(b)
Min
dari
e Re
gion
al C
ounc
il ob
ligat
ion
to s
ettl
e a
debt
due
to a
For
ce M
ajeu
re
even
t whi
ch is
not
cov
ered
by
insu
ranc
e.
Lo
an G
uara
ntee
s -
Club
s
The
Tow
n is
a g
uara
ntor
for
the
loan
bal
ance
out
stan
ding
as
at 3
0 J
une
20
15
take
n ou
t by
the
follo
win
g cl
ubs:
• Fl
orea
t Ten
nis
Club
$3
2,7
59
• La
ke M
onge
r Rec
reat
ion
Club
$14
5,9
61
The
Tow
n’s
liabi
lity
is li
mit
ed to
the
amou
nt o
f th
e lo
an o
utst
andi
ng in
the
case
of
any
defa
ult b
y th
e cl
ubs
in m
eeti
ng th
eir l
oan
liabi
lity
com
mit
men
ts.
89Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
19.
CAPI
TAL
AN
D L
EASI
NG
CO
MM
ITM
ENTS
(a)
Ope
rati
ng L
ease
Com
mit
men
ts
At t
he re
port
ing
date
the
Tow
n of
Cam
brid
ge h
ad a
n ob
ligat
ion
unde
r an
oper
atin
g le
ase
wit
h re
spec
t to
the
golf
car
ts, p
lant
and
ligh
t flee
t at t
he
Wem
bley
Gol
f Co
urse
. A
mou
nts
paya
ble
cont
ract
ed f
or b
ut n
ot c
apit
alis
ed in
th
e ac
coun
ts a
re:
30 J
une
2015
30 J
une
2014
$$
Not l
ater
than
1 y
ear
296
,680
4
22,7
80
Late
r tha
n on
e ye
ar b
ut n
ot la
ter t
han
five
year
s 2
38,1
36
534
,816
534,
816
957,
596
(b)
Com
mit
men
t for
Cap
ital
Exp
endi
ture
The
Tow
n ha
s en
tere
d in
to c
ontr
acts
for
the
follo
win
g m
ajor
cap
ital
pro
ject
s fo
r 20
15
/20
16:
• Co
nstr
ucti
on o
f th
e W
embl
ey G
olf
Cour
se h
ospi
talit
y an
d m
inia
ture
gol
f pr
ojec
t at a
tota
l cos
t of
$1
2.8
mill
ion.
20.
FEES
AN
D C
HA
RGES
BY
PRO
GRA
M30
Jun
e 20
1530
Jun
e 20
14
$$
Gene
ral P
urpo
se F
undi
ng 6
2,29
4 5
3,86
3
Gove
rnan
ce 6
0,72
3 6
6,31
2
Law
Orde
r and
Pub
lic S
afet
y 1
40,4
34
129
,856
Healt
h 7
2,77
0 6
3,45
0
Educ
atio
n &
Wel
fare
60,
510
58,
693
Com
mun
ity A
men
ities
2,8
08,8
69
2,6
99,5
98
Recr
eatio
n an
d Cu
lture
8,3
51,6
50
8,9
52,6
38
Tran
spor
t 1
,792
,184
1
,560
,923
Econ
omic
Serv
ices
500
,544
5
83,1
48
Othe
r Pro
perty
and
Ser
vices
88,
818
92,
294
13,
938,
796
14,
260,
775
90 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
21.
GRA
NTS
, SU
BSID
IES
AN
D C
ON
TRIB
UTI
ON
S
(a)
REVE
NU
E BY
PRO
GRA
M
30 J
une
2015
30 J
une
2014
$$
Gene
ral P
urpo
se F
undi
ng 1
,472
,833
4
62,9
96
Gove
rnan
ce -
8
9,03
2
Law
Orde
r and
Pub
lic S
afet
y 1
,399
,194
3
53,3
94
Healt
h 5
,100
4
,750
Educ
atio
n &
Wel
fare
994
,655
9
48,4
14
Com
mun
ity A
men
ities
570
,717
1
54,6
42
Recr
eatio
n an
d Cu
lture
875
,080
1
,483
,005
Tran
spor
t 1
,455
,376
1
,387
,544
Othe
r Pro
perty
29,
573
53,
636
6,8
02,5
28
4,9
37,4
13
(b
) RE
VEN
UE
BY N
ATU
RE O
R TY
PE
30 J
une
2015
30 J
une
2014
$$
Gran
ts O
pera
ting
3,3
71,2
07
2,6
57,2
99
Gran
ts fo
r the
dev
elop
men
t of a
sset
s 3
,431
,321
2
,280
,114
6,8
02,5
28
4,9
37,4
13
(c
) O
PERA
TIN
G A
ND
NO
N O
PERA
TIN
G G
RAN
TS &
CO
NTR
IBU
TIO
NS
BY P
ROG
RAM
30 J
une
2015
30 J
une
2014
Oper
atin
g No
n Op
erat
ing
Oper
atin
g No
n Op
erat
ing
$$
$$
Gene
ral P
urpo
se F
undi
ng 1
,472
,833
-
4
62,9
96
-
Gove
rnan
ce -
-
8
9,03
2 -
Law
Orde
r and
Pub
lic S
afet
y 2
4,19
4 1
,375
,000
5
1,07
6 3
02,3
18
Healt
h 5
,100
-
4
,750
-
Educ
atio
n &
Wel
fare
988
,009
6
,646
9
44,3
82
4,0
32
Com
mun
ity A
men
ities
8,1
45
562
,572
2
,328
1
52,3
14
Recr
eatio
n an
d Cu
lture
500
,990
3
74,0
90
385
,793
1
,097
,212
Tran
spor
t 3
42,3
63
1,1
13,0
13
663
,306
7
24,2
38
Othe
r Pro
perty
29,
573
-
53,
636
-
3,3
71,2
07
3,4
31,3
21
2,6
57,2
99
2,2
80,1
14
91Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
22.
DIS
POSA
L O
F A
SSET
S A
ND
LA
ND
HEL
D F
OR
RESA
LE
Clas
s of
Ass
ets
Net B
ook
Valu
eSa
le P
rice
Gain
/(Lo
ss) o
n Sa
le
Actu
alBu
dget
Actu
alBu
dget
Actu
alBu
dget
$$
$$
$$
Gain
on
Disp
osal
of A
sset
s
Land
Hel
d fo
r Res
ale 2
,824
,010
3
,127
,000
7
,967
,317
8
,346
,000
5
,143
,307
5
,219
,000
Land
-
-
1,0
99,0
91
3,3
00,0
00
1,0
99,0
91
3,3
00,0
00
Furn
iture
and
Equ
ipm
ent
-
-
1,5
00
-
1,5
00
-
Plan
t and
Equ
ipm
ent
103
,737
4
3,00
0 1
21,8
19
77,
500
18,
082
34,
500
Subt
otal
2,9
27,7
47
3,1
70,0
00
9,1
89,7
27
11,
723,
500
6,2
61,9
80
8,5
53,5
00
Loss
on
Disp
osal
of A
sset
s
Build
ings
828
,320
-
-
-
(8
28,3
20)
-
Furn
iture
and
Equ
ipm
ent
5
-
-
-
(5)
-
Plan
t and
Equ
ipm
ent
218
,059
3
52,0
00
169
,259
2
64,0
00
(48,
800)
(88,
000)
Infra
stru
ctur
e
Par
ks a
nd R
eser
ves
35,
134
-
-
-
(35,
134)
-
Roa
ds a
nd L
anes
11,
466
-
-
-
(11,
466)
-
Foo
tpat
hs 1
21,8
86
-
-
-
(121
,886
) -
Oth
er In
frast
ruct
ure
8,5
53
-
-
-
(8,5
53)
-
Subt
otal
1,2
23,4
23
352
,000
1
69,2
59
264
,000
(1
,054
,164
) (8
8,00
0)
Tota
l 4
,151
,170
3
,522
,000
9
,358
,986
1
1,98
7,50
0 5
,207
,816
8
,465
,500
92 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
23.
STAT
EMEN
T O
F RA
TIN
G IN
FORM
ATIO
N
2014
Ac
tual
$
Rate
able
Va
lue $
Rate
in
Dolla
rCe
nts)
2015
Bu
dget
$
2015
Ac
tual
$
Gene
ral R
ate
9,80
3,19
8 Gr
oss
Rent
al Va
lue
5,57
2 As
sess
men
ts18
6,39
2,79
7 5.
690
10,
606,
000
10,
605,
728
9,92
3,15
6 Un
impr
oved
Valu
es
4,44
4 As
sess
men
ts0.
208
10,
224,
000
10,
224,
226
Min
imum
Rat
e
860,
925
Gros
s Re
ntal
valu
e -
967
@$9
1012
,335
,789
NA
880
,000
8
79,9
70
92,7
15
Unim
prov
ed V
alue
- 11
1 @
$910
21,9
15,0
00
NA 1
01,0
00
101
,010
Inte
rim R
ates
263,
865
Gros
s Re
ntal
Valu
e5.
690
300
,000
4
33,8
25
22,2
12
Unim
prov
ed V
alue
0.20
8 2
5,00
0 (3
,964
)
(108
)Le
ss R
ates
Writ
ten
Off
--
10,9
27,8
80
Tota
l Gro
ss R
enta
l 1
1,78
6,00
0 1
1,91
9,52
3
10,0
38,0
83
Tota
l Uni
mpr
oved
10,
350,
000
10,
321,
272
20,9
65,9
63
22,
136,
000
22,
240,
795
36,3
52
Rate
s Re
ceive
d in
Adv
ance
-
(46,
123)
21,0
02,3
15
Tota
l Rat
es 2
2,13
6,00
0 2
2,19
4,67
2
90,4
27
Rate
Inst
almen
t Int
eres
t @5.
5% 9
0,00
0 9
3,33
9
53,8
63
Rate
Adm
inist
ratio
n Fe
e $8
.00
Per I
nsta
lmen
t 5
4,00
0 6
2,29
4
44,5
34
Late
Pay
men
t Int
eres
t @11
% 5
0,00
0 4
1,75
7
6,90
9 Pe
nsio
ner D
efer
red
Inte
rest
8,0
00
17,
945
21,1
98,0
48
22,
338,
000
22,
410,
007
The
Tow
n is
sued
rate
s on
11
Aug
ust 2
014
, wit
h pa
ymen
t to
be m
ade
in e
ithe
r ful
l by
17 S
epte
mbe
r 20
14 (
35
day
s fr
om d
ate
of is
sue
of n
otic
es)
or b
y fo
ur in
stal
men
ts a
s pr
ovid
ed f
or in
the
Loca
l Gov
ernm
ent A
ct 1
99
5.
The
due
date
s fo
r eac
h in
stal
men
t wer
e:
Firs
t Ins
talm
ent
17
Sep
tem
ber 2
014
Seco
nd In
stal
men
t 1
9 N
ovem
ber 2
014
Thir
d In
stal
men
t
2
1 J
anua
ry 2
01
5
Four
th In
stal
men
t
26
Mar
ch 2
01
5
An
inte
rest
rate
of
5.5
% p
er a
nnum
and
an
adm
inis
trat
ion
fee
of $
8.0
0 a
pplie
d to
th
e se
cond
, thi
rd a
nd f
ourt
h in
stal
men
ts.
An
inte
rest
rate
of
11
% w
as c
harg
ed f
or
the
late
pay
men
t of
rate
s. T
he re
venu
e ra
ised
fro
m th
ese
char
ges
is d
etai
led
belo
w:
2015
Ac
tual
2015
Bu
dget
2014
Ac
tual
$$
$In
stalm
ent I
nter
est
5.5%
per
ann
um 9
3,33
9 9
0,00
0 9
0,42
7
Adm
inist
ratio
n Fe
e$8
.00
per i
nsta
lmen
t 6
2,29
4 5
4,00
0 5
3,86
3
Late
Pay
men
t Int
eres
t11
% p
er a
nnum
41,
757
50,
000
44,
534
197
,390
1
94,0
00
188
,824
4,90
3,94
0,00
0
24.
TRU
ST F
UN
DS
Fund
s ov
er w
hich
the
Tow
n ha
s no
con
trol
and
whi
ch a
re n
ot in
clud
ed in
the
Fina
ncia
l Re
port
are
as
follo
ws:
Uncl
aim
ed M
onie
s30
Jun
e 20
15
Actu
al30
Jun
e 20
14
Actu
al$
$
Open
ing
Balan
ce40
,480
38,3
05
Rece
ipts
534
2,35
6
Paym
ents
(318
)(1
81)
Cash
at B
ank
40,6
9640
,480
Trus
t - B
onds
Cash
at B
ank
47,6
48 -
Term
Dep
osits
1,89
0,37
51,
593,
213
Clos
ing
Bala
nce
1,93
8,02
31,
593,
213
As
the
Tow
n pe
rfor
ms
only
a c
usto
dial
role
in re
spec
t of
thes
e m
onie
s an
d th
eref
ore
cann
ot b
e us
ed f
or C
ounc
il pu
rpos
es, t
hey
are
subs
eque
ntly
exc
lude
d fr
om th
e Fi
nanc
ial R
epor
t.
93Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
25.
EMPL
OYE
E N
UM
BERS
20
15
2014
The
num
ber o
f fu
ll ti
me
equi
vale
nt e
mpl
oyee
s as
at r
epor
ting
dat
e:
19
5
19
1
26.
MEM
BERS
OF
COU
NCI
L RE
MU
NER
ATIO
N
Fee
30 J
une
2015
Ac
tual
30 J
une
2015
Bu
dget
30 J
une
2014
Ac
tual
$$
$$
Annu
al M
eetin
g Fe
e(S
ectio
n 5.
99)
May
or 3
0,38
5 3
0,38
5 3
0,30
0 2
9,50
0
Coun
cillo
r 2
2,66
0 1
81,2
81
181
,200
1
76,6
51
Sub
Tota
l 2
11,6
66
211
,500
2
06,1
51
Annu
al L
ocal
Gov
ernm
ent A
llow
ance
(Sec
tion
5.98
(5)(b
)M
ayor
62,
000
61,
800
62,
000
60,
000
Depu
ty M
ayor
15,
500
15,
450
15,
500
15,
000
Sub
Tota
l 7
7,25
0 7
7,50
0 7
5,00
0
Pres
crib
ed E
xpen
se R
eim
burs
emen
t
(Sec
tion
5.98
(2))
Tele
com
mun
icatio
n Al
lowa
nce
3,7
00
31,
500
33,
000
30,
701
Othe
r 1
90
500
1
,052
Subt
otal
31,
690
33,
500
31,
753
Tota
l Mem
bers
Rem
uner
atio
n 3
20,6
06
322
,500
3
12,9
04
27.
SUBS
EQU
ENT
EVEN
TSTh
ere
are
no s
igni
fica
nt s
ubse
quen
t eve
nts,
oth
er th
an th
e fo
llow
ing:
Maj
or L
and
Tran
sact
ions
Perr
y La
kes
Rede
velo
pmen
t Pro
ject
The
Stat
e G
over
nmen
t ass
umed
con
trol
of
the
Perr
y La
kes
Rede
velo
pmen
t pro
ject
in
20
05
aft
er p
assi
ng th
e Pe
rry
Lake
s Re
deve
lopm
ent A
ct 2
00
5 (
the
Act
). A
t the
co
mpl
etio
n of
the
proj
ect,
the
Tow
n of
Cam
brid
ge w
as o
wed
$5
0 m
illio
n w
hich
as
per t
he A
ct c
an b
e pa
id in
cas
h, la
nd o
r a c
ombi
nati
on o
f ca
sh a
nd la
nd.
In M
ay 2
01
5 th
is y
ear,
The
Tow
n re
ceiv
ed a
repo
rt f
rom
the
Min
iste
r for
Pla
nnin
g on
the
prop
osed
set
tlem
ent w
ith
the
Stat
e G
over
nmen
t for
the
Perr
y La
kes
rede
velo
pmen
t as
follo
ws:
• Th
e se
ttle
men
t of
the
$5
0 m
illio
n is
to b
e m
ade
thro
ugh
a co
mbi
nati
on o
f la
nd a
nd c
ash;
• Th
e th
ree
apar
tmen
t sit
es (
lots
23
1, 2
32
and
23
3)
will
be
tran
sfer
red
to
the
Tow
n by
30
Jun
e 2
01
5;
• Th
e Va
luer
Gen
eral
will
ass
ess
the
valu
e of
the
land
in a
ccor
danc
e w
ith
the
requ
irem
ents
of
the
Act
(se
ctio
n 4
(3)(
b));
• Th
e ba
lanc
e (i
.e. $
50
mill
ion
less
the
land
val
ue)
will
be
paid
to th
e To
wn
in
cash
in th
e 2
016
/17
fina
ncia
l yea
r; a
nd
• B
oth
the
MR
S (c
urre
ntly
zon
ed U
rban
Def
erre
d) a
nd th
e To
wn’
s pl
anni
ng
sche
me
will
nee
d to
be
amen
ded
to ‘n
orm
alis
e’ th
e de
velo
pmen
t con
trol
s ov
er th
e la
nd p
rior
to th
e fi
nal p
aym
ent b
eing
mad
e to
the
Tow
n.
The
tran
sfer
of
the
thre
e ap
artm
ent s
ites
, val
ued
at $
27.4
mill
ion
(ex
GST
),
subs
eque
ntly
occ
urre
d on
21
Jul
y 2
01
5.
The
rem
aini
ng b
alan
ce o
f $
22
.6 m
illio
n is
to
be
paid
in c
ash
duri
ng th
e 2
016
/20
17 fi
nanc
ial y
ear.
The
Coun
cil a
t its
Aug
ust 2
01
5 C
ounc
il m
eeti
ng h
as d
ecid
ed to
sel
l lot
23
2, 1
M
eagh
er D
rive
and
lot 2
33
, 29
Sta
dium
Dri
ve b
y w
ay o
f te
nder
.
94 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
28.
MA
JOR
LAN
D T
RAN
SACT
ION
S (a
) K
alin
da D
rive
/The
Bou
leva
rd S
ubdi
visi
on (O
cean
Mia
)
All
lots
wit
hin
the
Oce
an M
ia la
nd d
evel
opm
ent w
ere
sold
dur
ing
the
20
13/2
014
fina
ncia
l yea
r, w
ith
the
exce
ptio
n of
one
mul
ti re
side
ntia
l lot
, whi
ch w
as s
old
and
sett
led
duri
ng J
uly
20
14 w
ith
sale
pro
ceed
s of
$3
.65
mill
ion
book
ed in
the
20
14/2
01
5 fi
nanc
ial y
ear.
Fina
ncia
l det
ails
rela
ted
to th
is tr
ansa
ctio
n ar
e as
fol
low
:
2006
/200
7 Ac
tual
2007
/200
8 Ac
tual
2008
/200
9 Ac
tual
2009
/201
0 Ac
tual
2010
/201
1 Ac
tual
2011
/201
2 Ac
tual
2012
/201
3 Ac
tual
2013
/201
4 Ac
tual
2014
/201
5 Ac
tual
Tota
l
$$
$$
$$
$$
$$
Reve
nue
Land
Sale
s -
1
4,96
5,00
0 2
,942
,075
8
,888
,000
-
8
20,0
00
2,7
85,6
12
22,
069,
388
3,6
50,0
00
56,
120,
075
Inte
rest
-
5,4
93
56,
502
-
-
2,8
23
-
-
-
64,
818
14,
970,
493
2,9
98,5
77
8,8
88,0
00
-
822
,823
2
,785
,612
2
2,06
9,38
8 3
,650
,000
5
6,18
4,89
3
Less
: GST
-
(1,1
24,9
46)
(224
,294
) (6
46,0
63)
-
(58,
362)
(65,
368)
(654
,848
) (9
3,72
2) (2
,867
,603
)
-
13,
845,
547
2,7
74,2
83
8,2
41,9
37
-
764
,461
2
,720
,244
2
1,41
4,54
0 3
,556
,278
5
3,31
7,29
0
Expe
nditu
re
Deve
lopm
ent C
osts
769
,615
6
,673
,306
4
55,5
83
-
-
40,
078
133
,269
2
15,0
75
-
8,2
86,9
26
Capi
talis
ed In
tere
st 6
18,2
68
690
,875
-
-
-
-
-
-
-
1
,309
,143
1,3
87,8
83
7,3
64,1
81
455
,583
-
-
4
0,07
8 1
33,2
69
215
,075
-
9
,596
,069
Net R
even
ue (1
,387
,883
) 6
,481
,366
2
,318
,700
8
,241
,937
-
7
24,3
83
2,5
86,9
75
21,
199,
465
3,5
56,2
78
43,
721,
221
Asse
ts a
s at
30
June
1,3
87,8
83
6,6
49,8
10
6,7
23,9
35
5,2
88,5
25
5,2
88,5
25
5,1
93,5
81
4,8
56,2
76
1,0
76,0
42
-
Net A
sset
s as
at 3
0 Ju
ne 1
,387
,883
6
,649
,810
6
,723
,935
5
,288
,525
5
,288
,525
5
,193
,581
4
,856
,276
1
,076
,042
-
95Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
28.
MA
JOR
LAN
D T
RAN
SACT
ION
S (c
onti
nued
)
(b)
Tam
ala
Park
- C
atal
ina
Esta
te
The
Tow
n is
a o
ne tw
elft
h (1
/12
) ow
ner o
f Lo
t 95
04
Tam
ala
Park
wit
h si
x ot
her C
ounc
ils (
Citi
es o
f Pe
rth,
Joo
ndal
up, S
tirl
ing,
Vin
cent
and
Wan
nero
o an
d th
e To
wn
of V
icto
ria
Park
).
The
seve
n ow
ner c
ounc
ils h
ave
esta
blis
hed
the
Tam
ala
Park
Reg
iona
l Cou
ncil
wit
h th
e sp
ecifi
c fu
ncti
on o
f ca
rryi
ng o
ut a
resi
dent
ial l
and
deve
lopm
ent,
kno
wn
as th
e Ca
talin
a Es
tate
. As
part
ow
ner o
f th
e la
nd, t
he T
own
is e
ntit
led
to o
ne tw
elft
h of
the
net p
roce
eds
of th
e la
nd d
evel
opm
ent.
Dur
ing
the
fina
ncia
l yea
r end
ed 3
0 J
une
20
15
, one
hun
dred
and
nin
ety
five
lots
of
land
wer
e se
ttle
d. T
he T
own
rece
ived
sal
es p
roce
eds
of $
4,4
11
,04
0 a
nd b
ooke
d it
s sh
are
of
asso
ciat
ed d
evel
opm
ent a
nd s
ellin
g co
sts
of $
1,7
47,9
68
, res
ulti
ng in
a g
ain
on d
ispo
sal o
f la
nd o
f $
2,6
63
,07
2 w
hich
has
bee
n re
flec
ted
in th
e To
wn’
s St
atem
ent o
f Co
mpr
ehen
sive
In
com
e. T
his
note
sho
uld
also
be
read
in c
onju
ncti
on w
ith
Not
e 3
1 -
Inve
stm
ent i
n Re
gion
al C
ounc
ils.
2012
/201
3 Ac
tual
2013
/201
4 Ac
tual
2014
/201
5 Ac
tual
Tota
l
$$
$$
Reve
nue
Proc
eeds
from
Lan
d Sa
les
3,6
44,3
46
4,5
23,1
24
5,0
92,6
11
13,
260,
081
Less
: GST
(94,
795)
(73,
925)
(64,
566)
(233
,286
)
3,5
49,5
51
4,4
49,1
99
5,0
28,0
45
13,
026,
795
Less
: Dev
elop
men
t Cos
ts (3
65,3
57)
(489
,058
) (6
17,0
05)
(1,4
71,4
20)
3,1
84,1
94
3,9
60,1
41
4,4
11,0
40
11,
555,
375
Cost
of L
and
Sold
(1,3
09,1
44)
(1,8
29,8
14)
(1,7
47,9
68)
(4,8
86,9
26)
Profi
t on
Sale
of L
and
1,8
75,0
50
2,1
30,3
27
2,6
63,0
72
6,6
68,4
49
Equi
ty in
Tam
ala P
ark
Regi
onal
Coun
cil 2
,334
,463
3
,535
,548
4
,007
,855
La
nd H
eld
for R
esale
145
,264
6
,962
2
16,7
00
Unim
prov
ed E
nglo
bo L
and
-
7,5
00,0
00
6,9
37,7
44
Net A
sset
s as
at 3
0 Ju
ne 2
,479
,727
1
1,04
2,51
0 1
3,82
5,37
1
96 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
29.
MA
JOR
TRA
DIN
G U
ND
ERTA
KIN
GTh
e W
embl
ey G
olf
Cour
se q
ualifi
es u
nder
the
min
imum
requ
irem
ents
of
Sect
ion
3.5
9 o
f th
e Lo
cal G
over
nmen
t Act
19
95
and
Reg
ulat
ion
9 o
f th
e Fu
ncti
ons
and
Gen
eral
Reg
ulat
ions
for
a
maj
or tr
adin
g un
dert
akin
g. T
he T
own
does
not
ope
rate
any
oth
er m
ajor
trad
ing
unde
rtak
ings
.
The
Wem
bley
Gol
f Co
urse
ope
rate
s as
a s
tand
-alo
ne a
ctiv
ity
and
pays
the
Tow
n an
ann
ual d
ivid
end
whi
ch w
as $
1.5
7 m
illio
n fo
r 30
Jun
e 2
01
5 (
20
14: $
1.5
8 m
illio
n).
A s
umm
ary
of th
e fi
nanc
ial p
osit
ion
is d
etai
led
belo
w:
2015
Ac
tual
2015
Bu
dget
2014
Ac
tual
$$
$Re
venu
eFe
es 6
,876
,329
6
,947
,500
6
,680
,694
Ot
her
263
,887
3
11,0
00
305
,917
To
tal
7,1
40,2
16
7,2
58,5
00
6,9
86,6
11
Expe
nditu
reEx
pend
iture
5,9
08,7
19
5,7
32,9
00
5,5
21,9
54
Inte
rest
413
,374
4
11,5
00
497
,557
To
tal
6,3
22,0
93
6,1
44,4
00
6,0
19,5
11
Net P
rofit
from
Ope
ratio
ns 8
18,1
23
1,1
14,1
00
967
,100
Add
Back
Ove
rhea
ds/N
on C
ash
1,1
98,1
76
1,0
06,4
00
936
,344
Ne
t Cas
h Su
rplu
s fr
om O
pera
tions
2,0
16,2
99
2,1
20,5
00
1,9
03,4
44
Plus
Pro
ceed
s fro
m s
ale o
f Plan
t & E
quip
men
t -
2
0,00
0 3
3,63
6 Le
ss L
oan
Prin
cipal
Repa
ymen
ts (5
21,9
94)
(522
,000
) (3
66,6
07)
Tran
sfer
Fro
m R
eser
ve 7
2,97
4 -
9
,527
Tr
ansf
er F
rom
End
owm
ent L
and
Acco
unt
-
8,5
00
-
Cash
Div
iden
d to
the
Tow
n 1
,567
,279
1
,627
,000
1
,580
,000
The
info
rmat
ion
cont
aine
d in
the
abov
e O
pera
ting
Sta
tem
ent i
s in
clus
ive
of a
ll it
ems
of re
venu
e an
d ex
pend
itur
e w
hich
has
bee
n us
ed in
the
pric
ing
stru
ctur
e fo
r goo
ds a
nd s
ervi
ces
prov
ided
by
the
golf
cou
rse
trad
ing
unde
rtak
ing.
The
re a
re n
o ot
her i
tem
s ou
tsid
e th
e ab
ove
Ope
rati
ng S
tate
men
t use
d fo
r thi
s pu
rpos
e.
The
inte
rest
exp
ense
am
ount
of
$4
13,3
74
for
the
20
14/2
01
5 fi
nanc
ial y
ear i
nclu
des
an in
tern
al in
tere
st c
harg
e fr
om th
e En
dow
men
t Lan
ds A
ccou
nt o
f $
30
,98
0.
This
has
bee
n el
imin
ated
wit
hin
the
Tow
n’s
fina
ncia
l rep
ort.
97Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
29.
MA
JOR
TRA
DIN
G U
ND
ERTA
KIN
G (
cont
inue
d)
A fi
ve y
ear f
orec
ast o
f ex
pect
ed fi
nanc
ial p
erfo
rman
ce f
or th
e go
lf c
ours
e ba
sed
on c
urre
nt tr
ends
in th
e in
dust
ry a
nd in
vest
men
t in
the
golf
cou
rse
hosp
ital
ity
and
min
iatu
re g
olf
is a
s fo
llow
s:
2015
$20
16 $
2017
$20
18 $
2019
$20
20 $
Tota
l $
Reve
nue
Fees
6,8
76,3
29
6,6
48,5
00
6,6
10,0
00
6,7
62,0
00
6,8
37,0
00
6,9
03,0
00
40,
636,
829
Othe
r 2
63,8
87
145
,000
2
,244
,000
2
,273
,000
2
,303
,000
2
,333
,000
9
,561
,887
Tota
l 7
,140
,216
6
,793
,500
8
,854
,000
9
,035
,000
9
,140
,000
9
,236
,000
5
0,19
8,71
6
Expe
nditu
reEx
pend
iture
6,3
22,0
93
6,2
18,0
00
7,0
34,0
00
6,9
28,0
00
6,8
97,0
00
6,8
64,0
00
40,
263,
093
Tota
l 6
,322
,093
6
,218
,000
7
,034
,000
6
,928
,000
6
,897
,000
6
,864
,000
4
0,26
3,09
3
Net P
rofit
from
Ope
ratio
ns 8
18,1
23
575
,500
1
,820
,000
2
,107
,000
2
,243
,000
2
,372
,000
9
,935
,623
Add
Back
Ove
rhea
ds/N
on C
ash
1,1
98,1
76
948
,500
1
,117
,000
1
,117
,000
1
,117
,000
1
,117
,000
6
,614
,676
Net C
ash
Surp
lus
from
Ope
ratio
ns 2
,016
,299
1
,524
,000
2
,937
,000
3
,224
,000
3
,360
,000
3
,489
,000
1
6,55
0,29
9
Less
: Loa
n Pr
incip
al Re
paym
ents
(521
,994
) (5
70,5
00)
(1,2
04,5
00)
(1,2
33,0
00)
(1,2
63,0
00)
(1,2
93,0
00)
(6,0
85,9
94)
Add:
Pro
ceed
s fro
m S
ale o
f Plan
t & E
quip
men
t -
2
0,00
0 -
-
-
-
2
0,00
0
Add:
Tran
sfer
from
Res
erve
to N
on-C
apita
l Wor
ks -
6
9,00
0 -
-
-
-
6
9,00
0
Tran
sfer
red
from
/(to)
Res
erve
72,
974
584
,500
1
7,50
0 (2
41,0
00)
(347
,000
) (4
46,0
00)
(359
,026
)
Cash
Div
iden
d to
the
Tow
n 1
,567
,279
1
,627
,000
1
,750
,000
1
,750
,000
1
,750
,000
1
,750
,000
1
0,19
4,27
9
30.
OTH
ER F
INA
NCI
AL
ASS
ETS
Inve
stm
ents
are
mad
e in
acc
orda
nce
wit
h th
e W
este
rn A
ustr
alia
n Tr
uste
e A
ct 1
96
2
(as
amen
ded)
and
are
reco
rded
at c
ost.
Hel
d To
Mat
urit
y In
vest
men
ts
Non
Curr
ent
30 J
une
2015
30 J
une
2014
$$
Mor
tgag
e ba
cked
Sec
urity
641
,707
6
27,2
45
641
,707
6
27,2
45
Not
e: C
urre
ntly
one
long
term
sec
urit
y re
mai
ns in
the
inve
stm
ent p
ortf
olio
, be
ing
a m
ortg
age
back
ed s
ecur
ity
“Em
eral
d Re
vers
e M
ortg
age
Seri
es 2
00
6-
1 C
lass
A”
whi
ch is
an
“AA
A”
cred
it ri
sk ra
ted
secu
rity
. A
s at
31
Jul
y 2
01
5
the
secu
rity
has
a m
arke
t val
ue o
f $
64
1,7
07 a
nd th
e ca
rryi
ng v
alue
of
the
inve
stm
ent o
f $
55
2,9
87 h
as b
een
incr
ease
d to
refl
ect t
his
valu
e w
ith
a fa
ir
valu
e ad
just
men
t of
$8
8,7
20
boo
ked
to th
e St
atem
ent o
f Co
mpr
ehen
sive
In
com
e.
It s
houl
d be
not
ed th
at T
own
at th
is ti
me
has
no in
tent
ion
of s
ellin
g th
e in
vest
men
t. Th
e or
igin
al in
vest
men
t of
$1
mill
ion
is b
eing
gra
dual
ly
redu
ced
as th
e un
derl
ying
mor
tgag
es a
re re
paid
wit
h $
26
2,4
82
rece
ived
sin
ce
the
secu
rity
was
acq
uire
d.
98 Town of Cambridge Annual Report 2014-15
31.
INVE
STM
ENT
IN R
EGIO
NA
L CO
UN
CILS
- J
OIN
T VE
NTU
RE 2
015
(a) N
on-C
urre
nt A
sset
s30
Jun
e 20
1530
Jun
e 20
14
$$
Min
darie
Reg
iona
l Cou
ncil
5,15
5,27
43,
055,
371
Tam
ala P
ark
Regi
onal
Coun
cil4,
007,
855
3,53
5,54
8
9,16
3,12
96,
590,
919
(b) C
hang
e in
Equ
ity
Inte
rest
in th
e jo
int v
entu
re b
y Co
unci
l in
both
Min
dari
e Re
gion
al C
ounc
il an
d Ta
mal
a Pa
rk R
egio
nal C
ounc
il is
acc
ount
ed f
or b
y ap
plyi
ng th
e eq
uity
met
hod.
Und
er th
is
met
hod
of a
ccou
ntin
g, in
tere
st in
the
join
tly c
ontr
olle
d re
gion
al c
ounc
ils is
init
ially
re
cord
ed a
t cos
t and
adj
uste
d th
erea
fter
for
the
post
acq
uisi
tion
cha
nge
in C
ounc
il’s
shar
e of
net
ass
ets
of th
e jo
intly
con
trol
led
regi
onal
cou
ncils
. A
ccor
ding
ly a
tota
l am
ount
of
$2
,68
1,1
47 p
ost a
cqui
siti
on c
hang
e w
as b
ooke
d, m
ade
up o
f a
$2
,078
,84
0
incr
emen
t for
Min
dari
e Re
gion
al C
ounc
il an
d a
$6
02
,307
incr
emen
t for
Tam
ala
Park
Re
gion
al C
ounc
il.
Inve
stm
ent i
n Ta
mal
a Pa
rk$
Open
ing
Balan
ce a
s at
1 J
uly
2014
3,53
5,54
8
(bas
ed o
n dr
aft fi
nanc
ials)
Proc
eeds
from
sale
of T
amala
Par
k lan
d lo
ts in
201
4/15
4,41
1,04
0
Less
: Cos
t of L
and
Deve
lope
d an
d M
oved
to L
and
Held
for R
esale
(1,9
57,7
06)
Less
: Ret
urn
of E
quity
/Pro
fit fr
om T
PRC
(2,5
83,3
34)
Post
Acq
uisit
ion
Adju
stm
ent t
o Ch
ange
s in
Equ
ity60
2,30
7
Clos
ing
Balan
ce a
s at
30
June
201
54,
007,
855
Inve
stm
ent i
n M
inda
rie$
Open
ing
Balan
ce a
s at
1 J
uly
2014
3,05
5,37
1
(bas
ed o
n dr
aft fi
nanc
ials)
Reim
burs
emen
t of L
oan
Repa
ymen
ts21
,063
Post
Acq
uisit
ion
Adju
stm
ent t
o Ch
ange
s in
Equ
ity2,
078,
840
Clos
ing
Balan
ce a
s at
30
June
201
55,
155,
274
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
(c) M
inda
rie
Regi
onal
Cou
ncil
The
Min
dari
e Re
gion
al C
ounc
il w
as f
orm
ally
con
stit
uted
in D
ecem
ber 1
987
. The
To
wn
of C
ambr
idge
alo
ng w
ith
the
Citi
es o
f Pe
rth,
Wan
nero
o, J
oond
alup
, Sti
rlin
g an
d V
ince
nt a
nd th
e To
wn
of V
icto
ria
Park
, is
a m
embe
r of
the
Min
dari
e Re
gion
al C
ounc
il.
The
prim
ary
func
tion
of
the
Regi
onal
Cou
ncil
unde
r the
con
stit
utio
n ag
reem
ent i
s fo
r th
e or
derl
y an
d ef
fici
ent t
reat
men
t and
/or d
ispo
sal o
f w
aste
.
The
Tow
n of
Cam
brid
ge h
as a
one
twel
fth
(1/1
2)
equi
ty in
the
land
and
ass
ets
of
the
refu
se d
ispo
sal f
acili
ty a
s pe
r the
con
stit
utio
n am
endm
ent (
date
d 2
5 N
ovem
ber
19
96
) th
at re
cogn
ises
the
Tow
n as
a m
embe
r of
the
Min
dari
e Re
gion
al C
ounc
il.
The
Tow
n ha
s re
cogn
ised
in it
s bo
oks
the
inve
stm
ent o
f $
5,1
55
,27
4 w
hich
is
refl
ecte
d as
a c
ontr
ibut
ion
in M
inda
rie
Regi
onal
Cou
ncil’
s St
atem
ent o
f Fi
nanc
ial
Posi
tion
at 3
0 J
une
20
15
(un
audi
ted)
.
99Financial Report
31.
INVE
STM
ENT
IN R
EGIO
NA
L CO
UN
CILS
- J
OIN
T VE
NTU
RE 2
015
(c
onti
nued
)
The
Tow
n’s
inte
rest
in th
e jo
int v
entu
re a
s at
30
Jun
e 2
01
5 is
as
follo
ws:
2015 $
Inte
rest
in th
e Jo
int v
entu
re a
s at
30
June
201
55,
155,
274
Repr
esen
ted
by s
hare
of J
oint
ven
ture
ent
ity’s
finan
cial p
ositio
n:
Curre
nt A
sset
s2,
482,
994
Non
Curre
nt A
sset
s5,
541,
279
Tota
l Ass
ets
8,02
4,27
3
Curre
nt L
iabilit
ies
1,13
0,55
0
Non
Curre
nt L
iabilit
ies
1,73
8,44
9
Tota
l Lia
bilit
ies
2,86
8,99
9
Net A
sset
s5,
155,
274N
otes
to a
nd fo
rmin
g pa
rt o
f the
Fin
anci
al R
epor
tFO
R TH
E YE
AR
END
ED 3
0 JU
NE
2015
(iv)
Tam
ala
Park
Reg
iona
l Cou
ncil
The
Tow
n is
a o
ne tw
elft
h (1
/12
) ow
ner o
f Lo
t 95
04
Tam
ala
Park
wit
h si
x ot
her
Coun
cils
(Ci
ties
of
Pert
h, J
oond
alup
, Sti
rlin
g, V
ince
nt a
nd W
anne
roo
and
the
Tow
n of
V
icto
ria
Park
).
The
seve
n ow
ner c
ounc
ils h
ave
esta
blis
hed
the
Tam
ala
Park
Reg
iona
l Cou
ncil
wit
h th
e sp
ecifi
c fu
ncti
on o
f ca
rryi
ng o
ut a
resi
dent
ial l
and
deve
lopm
ent,
kno
wn
as th
e Ca
talin
a Es
tate
. As
part
ow
ner o
f th
e la
nd, t
he T
own
is e
ntit
led
to o
ne tw
elft
h of
the
net p
roce
eds
of th
e la
nd d
evel
opm
ent.
In 2
00
6, t
he O
wne
rs re
ceiv
ed $
16.5
5 m
illio
n fr
om th
e St
ate
Gov
ernm
ent f
or th
e tr
ansf
er o
f pa
rt o
f th
e la
nd to
‘Bus
h Fo
reve
r’. T
his
prov
ided
the
init
ial s
tart
up
equi
ty
for t
he p
roje
ct, t
he T
own’
s sh
are
bein
g $
1.3
5 m
illio
n. L
and
sale
s re
tain
ed b
y th
e Ta
mal
a Pa
rk R
egio
nal C
ounc
il ha
ve f
unde
d th
e st
aged
dev
elop
men
t in
acco
rdan
ce
wit
h th
e pr
ojec
t pla
n an
d du
ring
the
year
, the
Cou
ncil
retu
rned
$3
1 m
illio
n in
equ
ity
to th
e ow
ners
, fro
m la
nd s
ales
. The
Tow
n’s
shar
e w
as $
2,5
83,3
34
.
The
Tow
n’s
inte
rest
in th
e jo
int v
entu
re a
s at
30
Jun
e 2
01
5 is
as
follo
ws:
2015 $
Inte
rest
in th
e Jo
int v
entu
re a
s at
30
June
201
54,
007,
855
Repr
esen
ted
by s
hare
of J
oint
ven
ture
ent
ity’s
finan
cial p
ositio
n:
Curre
nt A
sset
s3,
870,
810
Non
Curre
nt A
sset
s16
4,17
7
Tota
l Ass
ets
4,03
4,98
7
Curre
nt L
iabilit
ies
24,5
54
Non
Curre
nt L
iabilit
ies
2,57
8
Tota
l Lia
bilit
ies
27,1
32
Net A
sset
s4,
007,
855
100 Town of Cambridge Annual Report 2014-15
32.
BUD
GET
CO
MPA
RISO
NS
– N
ON
OPE
RATI
NG
N
et C
urre
nt A
sset
Pos
itio
n
The
net c
urre
nt a
sset
pos
itio
n ba
lanc
e ca
rrie
d fo
rwar
d fr
om th
e pr
evio
us fi
nanc
ial
year
aft
er a
djus
tmen
t for
Res
tric
ted
Ass
ets
for t
he p
urpo
se o
f th
e 2
014
/20
15
bu
dget
was
$3
,49
3,7
00
.
The
actu
al n
et c
urre
nt a
sset
pos
itio
n ba
lanc
e sh
own
in th
e au
dite
d fi
nanc
ial r
epor
t as
at 3
0 J
une
20
15
and
aft
er a
djus
tmen
t for
Res
tric
ted
Ass
ets
was
$3
,63
6,0
00
.
33.
ECO
NO
MIC
DEP
END
ENCY
Th
e To
wn
does
not
usu
ally
rece
ive
a si
gnifi
cant
por
tion
of
reve
nue
by w
ay o
f gr
ants
fr
om th
e St
ate
and
Fede
ral G
over
nmen
t. H
owev
er th
is fi
nanc
ial y
ear t
he to
tal
amou
nt o
f ca
sh g
rant
and
con
trib
utio
ns re
ceiv
ed f
rom
gov
ernm
ent s
ourc
es f
or th
e ye
ar e
nded
30
Jun
e 2
01
5 is
$6
,80
2,5
28
whi
ch re
pres
ents
13
% o
f to
tal r
even
ue
of $
51
,547
,04
2. T
he a
mou
nt o
f gr
ants
and
con
trib
utio
ns re
ceiv
ed b
y pr
ogra
m is
di
sclo
sed
in N
ote
21
.
34.
FIN
AN
CIA
L RI
SK M
AN
AG
EMEN
T
Coun
cil’s
act
ivit
ies
expo
se it
to a
var
iety
of
fina
ncia
l ris
ks in
clud
ing
pric
e ri
sk, c
redi
t ri
sk, l
iqui
dity
risk
and
inte
rest
rate
risk
. Th
e Co
unci
l’s o
vera
ll ri
sk m
anag
emen
t fo
cuse
s on
the
unpr
edic
tabi
lity
of fi
nanc
ial m
arke
ts a
nd s
eeks
to m
inim
ise
pote
ntia
l ad
vers
e ef
fect
s on
the
fina
ncia
l per
form
ance
of
the
Coun
cil.
Coun
cil d
oes
not e
ngag
e in
tran
sact
ions
exp
ress
ed in
for
eign
cur
renc
ies
and
is
ther
efor
e no
t sub
ject
to f
orei
gn c
urre
ncy
risk
.
Fina
ncia
l ris
k m
anag
emen
t is
carr
ied
out b
y th
e fi
nanc
e ar
ea u
nder
pol
icie
s ap
prov
ed
by th
e Co
unci
l.
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
The
Coun
cil h
eld
the
follo
win
g fi
nanc
ial i
nstr
umen
ts a
t rep
orti
ng d
ate:
Carr
ying
Val
ueFa
ir Va
lue
2015 $
2014 $
2015 $
2014 $
Fina
ncia
l Ass
ets
Cash
and
cas
h eq
uiva
lent
s
32,5
44,9
72
39,6
01,7
46
32,5
44,9
72
39,6
01,7
46
Rece
ivabl
es
2,23
6,05
5 2,
122,
097
2,23
6,05
5 2,
122,
097
Held
-to-m
atur
ity in
vest
men
ts
737,
518
811,
776
641,
707
627,
245
35
,518
,545
42
,535
,619
35,4
22,7
3442
,351
,088
Fina
ncia
l Lia
bilit
ies
Paya
bles
6,
618,
156
4,87
5,44
66,
618,
156
4,87
5,44
6
Borro
wing
s
13,2
15,0
03
14,3
19,7
50
13,1
78,7
71
11,2
02,3
56
19
,833
,159
19
,195
,196
19,7
96,9
2716
,077
,802
Fair
val
ue is
det
erm
ined
as
follo
ws:
• Ca
sh a
nd C
ash
Equi
vale
nts,
Rec
eiva
bles
, Pay
able
s -
esti
mat
ed to
the
carr
ying
va
lue
whi
ch a
ppro
xim
ates
net
mar
ket v
alue
.
• B
orro
win
gs -
est
imat
ed f
utur
e ca
sh fl
ows
disc
ount
ed b
y th
e cu
rren
t mar
ket
inte
rest
rate
s ap
plic
able
to a
sset
s an
d lia
bilit
ies
wit
h si
mila
r ris
k pr
ofile
s.
• H
eld
to M
atur
ity
inve
stm
ents
are
bas
ed o
n ne
t rea
lisab
le v
alue
as
at th
e re
port
ing
date
.
(a)
Cash
and
Cas
h Eq
uiva
lent
s
H
eld-
to-m
atur
ity
inve
stm
ents
Coun
cil’s
obj
ecti
ve is
to m
axim
ise
its
retu
rn o
n ca
sh a
nd in
vest
men
ts w
hils
t m
aint
aini
ng a
n ad
equa
te le
vel o
f liq
uidi
ty a
nd p
rese
rvin
g ca
pita
l. T
he fi
nanc
e ar
ea m
anag
es th
e ca
sh a
nd in
vest
men
ts p
ortf
olio
wit
h th
e as
sist
ance
of
an
inde
pend
ent a
dvis
er.
Coun
cil h
as a
n in
vest
men
t pol
icy
and
the
polic
y is
sub
ject
to
revi
ew b
y Co
unci
l. A
n In
vest
men
t Rep
ort i
s pr
ovid
ed to
Cou
ncil
on a
mon
thly
ba
sis
sett
ing
out t
he m
ake-
up a
nd p
erfo
rman
ce o
f th
e po
rtfo
lio.
The
maj
or ri
sk a
ssoc
iate
d w
ith
inve
stm
ents
is p
rice
risk
- th
e ri
sk th
at th
e ca
pita
l val
ue o
f in
vest
men
ts m
ay fl
uctu
ate
due
to c
hang
es in
mar
ket p
rice
s,
whe
ther
thes
e ch
ange
s ar
e ca
used
by
fact
ors
spec
ific
to in
divi
dual
fina
ncia
l in
stru
men
ts o
f th
eir i
ssue
rs o
r fac
tors
aff
ecti
ng s
imila
r ins
trum
ents
trad
ed in
a
mar
ket.
101Financial Report
34.
FIN
AN
CIA
L RI
SK M
AN
AG
EMEN
T (c
onti
nued
)
Cash
and
inve
stm
ents
are
als
o su
bjec
t to
inte
rest
rate
risk
- th
e ri
sk th
at m
ovem
ents
in
inte
rest
rate
s co
uld
affe
ct re
turn
s.
Ano
ther
risk
ass
ocia
ted
wit
h ca
sh a
nd in
vest
men
ts is
cre
dit r
isk
- th
e ri
sk th
at a
co
ntra
ctin
g en
tity
will
not
com
plet
e it
s ob
ligat
ions
und
er a
fina
ncia
l ins
trum
ent
resu
ltin
g in
a fi
nanc
ial l
oss
to C
ounc
il.
Coun
cil m
anag
es th
ese
risk
s by
div
ersi
fyin
g it
s po
rtfo
lio a
nd o
nly
purc
hasi
ng
inve
stm
ents
wit
h hi
gh c
redi
t rat
ings
or c
apit
al g
uara
ntee
s. C
ounc
il al
so s
eeks
adv
ice
from
an
inde
pend
ent a
dvis
or b
efor
e pl
acin
g an
y ca
sh in
to in
vest
men
ts.
Sens
itiv
ity
Ana
lysi
s
30
Jun
e 20
15
30 J
une
2014
$
$
Impa
ct o
f a 5
% (*
) mov
emen
t in
price
of i
nves
tmen
ts:
Equi
ty
37,0
00
40,5
00
Stat
emen
t of C
ompr
ehen
sive
Inco
me
37
,000
40
,500
Impa
ct o
f a 0
.5%
(201
3/20
14:1
%) m
ovem
ent i
n in
tere
st ra
tes
on c
ash
and
inve
stm
ents
:
Equi
ty
166,
000
404,
000
Stat
emen
t of C
ompr
ehen
sive
Inco
me
16
6,00
0 40
4,00
0
Not
es:
(*)
Sens
itiv
ity
perc
enta
ges
base
d on
man
agem
ent’
s ex
pect
atio
n of
fut
ure
pos
sibl
e m
arke
t mov
emen
ts.
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
(b)
Rece
ivab
les
Coun
cil’s
maj
or re
ceiv
able
s co
mpr
ise
rate
s an
d an
nual
cha
rges
and
use
r ch
arge
s an
d fe
es.
The
maj
or ri
sk a
ssoc
iate
d w
ith
thes
e re
ceiv
able
s is
cre
dit
risk
- th
e ri
sk th
at th
e de
bts
may
not
be
repa
id.
Coun
cil m
anag
es th
is ri
sk b
y m
onit
orin
g ou
tsta
ndin
g de
bt a
nd e
mpl
oyin
g de
bt re
cove
ry p
olic
ies.
Cred
it ri
sk o
n ra
tes
and
annu
al c
harg
es is
min
imis
ed b
y th
e ab
ility
of
Coun
cil
to re
cove
r the
se d
ebts
as
a se
cure
d ch
arge
ove
r the
land
- th
at is
, the
land
can
be
sol
d to
reco
ver t
he d
ebt.
Cou
ncil
is a
lso
able
to c
harg
e in
tere
st o
n ov
erdu
e ra
tes
and
annu
al c
harg
es a
t hig
her t
han
mar
ket r
ates
, whi
ch f
urth
er e
ncou
rage
s pa
ymen
t.
The
leve
l of
outs
tand
ing
rece
ivab
les
is re
port
ed to
Cou
ncil
mon
thly
and
be
nchm
arks
are
set
and
mon
itor
ed f
or a
ccep
tabl
e co
llect
ion
perf
orm
ance
.
Coun
cil m
akes
sui
tabl
e pr
ovis
ion
for d
oubt
ful r
ecei
vabl
es a
s re
quir
ed a
nd
carr
ied
out c
redi
t che
cks
on m
ost n
on ra
te d
ebto
rs.
Ther
e ar
e no
mat
eria
l rec
eiva
bles
that
hav
e be
en s
ubje
ct to
a re
-neg
otia
tion
of
repa
ymen
t ter
ms.
The
profi
le o
f Co
unci
l’s c
redi
t ris
k at
repo
rtin
g da
te w
as:
30
Jun
e 20
15
30 J
une
2014
Perc
enta
ge o
f Rat
es a
nd A
nnua
l Cha
rges
:Cu
rrent
0%
0%
Over
due
100%
10
0%
All r
ates
out
stan
ding
at y
ear e
nd fo
r 201
4/20
15 a
re re
gard
ed a
s be
ing
over
due.
Perc
enta
ge o
f Oth
er R
ecei
vabl
es:
Curre
nt
37%
76
%Ov
erdu
e 63
%
24%
Trad
e re
ceiv
able
s ou
tsta
ndin
g fo
r mor
e th
an th
irty
day
s ar
e co
nsid
ered
to b
e ov
erdu
e. C
ounc
il’s
term
s of
trad
e ar
e th
irty
day
s.
102 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
34.
FIN
AN
CIA
L RI
SK M
AN
AG
EMEN
T (c
onti
nued
)
(c)
Paya
bles
Bo
rrow
ings
Paya
bles
and
bor
row
ings
are
bot
h su
bjec
t to
liqui
dity
risk
- th
at is
the
risk
that
insu
ffici
ent f
unds
may
be
on h
and
to m
eet p
aym
ent o
blig
atio
ns a
s an
d w
hen
they
fal
l due
. Co
unci
l m
anag
es th
is ri
sk b
y m
onit
orin
g it
s ca
sh fl
ow re
quir
emen
ts a
nd li
quid
ity
leve
ls a
nd m
aint
aini
ng a
n ad
equa
te c
ash
buff
er.
The
cont
ract
ual u
ndis
coun
ted
cash
flow
s of
Cou
ncil’
s Pa
yabl
es a
nd B
orro
win
gs a
re s
et o
ut in
the
Liqu
idit
y Se
nsit
ivit
y Ta
ble
belo
w:
Due
with
in
1 Ye
ar $
Due
betw
een
1 an
d 5
Year
s $
Due
afte
r 5
Year
s $
Tota
l co
ntra
ctua
l ca
sh fl
ows $
Carr
ying
va
lues
$
2014
Paya
bles
4,
875,
446
- -
4,87
5,44
6 4,
875,
446
Borro
wing
s
2,59
1,68
1 3,
746,
887
11,8
32,4
58
18,1
71,0
26
14,3
19,7
50
7,
467,
127
3,74
6,88
7 11
,832
,458
23
,046
,472
19
,195
,196
2015
Paya
bles
6,
618,
156
- -
6,61
8,15
6 6,
618,
156
Borro
wing
s
987,
400
3,90
1,17
8 12
,165
,794
17
,054
,372
13
,215
,003
7,
605,
556
3,90
1,17
8 12
,165
,794
23
,672
,528
19
,833
,159
103Financial Report
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
34.
FIN
AN
CIA
L RI
SK M
AN
AG
EMEN
T (c
onti
nued
)
(c)
Paya
bles
Bo
rrow
ings
Bor
row
ings
are
als
o su
bjec
t to
inte
rest
rate
risk
- th
e ri
sk th
at m
ovem
ents
in in
tere
st ra
tes
coul
d ad
vers
ely
affe
ct f
undi
ng c
osts
. Co
unci
l man
ages
this
risk
by
borr
owin
g lo
ng
term
and
fixi
ng th
e in
tere
st ra
te to
the
situ
atio
n co
nsid
ered
the
mos
t adv
anta
geou
s at
the
tim
e of
neg
otia
tion
.
The
follo
win
g ta
bles
set
out
the
carr
ying
am
ount
of
the
fina
ncia
l ins
trum
ents
exp
osed
to in
tere
st ra
te ri
sk:
< 1
Yea
r $
> 1
< 2
Yea
rs
$>
2 <
3 Y
ears
$
> 3
< 4
Yea
rs
$>
4 <
5 Y
ears
$
> 5
Yea
rs
$To
tal
$
Wei
ghte
d Av
erag
e Ef
fect
ive
Inte
rest
Rat
e %
Year
End
ed 3
0 Ju
ne 2
014
Borr
owin
gs
Fixe
d Ra
te
Debe
ntur
es2,
210,
323
590,
485
609,
605
610,
195
627,
636
9,67
1,50
614
,319
,750
Wei
ghte
d Av
erag
eEf
fect
ive In
tere
st R
ate
2.66
%2.
94%
2.92
%2.
91%
2.90
%3.
00%
-2.
88%
Year
End
ed 3
0 Ju
ne 2
015
Borr
owin
gs
Fixe
d Ra
te
Debe
ntur
es58
8,96
060
9,60
561
0,19
562
7,63
664
6,99
710
,131
,610
13,2
15,0
03
Wei
ghte
d Av
erag
eEf
fect
ive In
tere
st R
ate
3.02
%2.
99%
2.98
%3.
03%
3.02
%3.
00%
-3.
01%
35.
AU
DIT
ORS
REM
UN
ERAT
ION
30 J
une
2015
30 J
une
2014
$$
Audi
t of F
inan
cial R
epor
t 2
7,92
4 3
7,60
0
Othe
r Ser
vices
1,2
00
-
29,
124
37,
600
The
abov
e fe
es re
late
to p
rovi
sion
of
exte
rnal
aud
it s
ervi
ces
only
.
104 Town of Cambridge Annual Report 2014-15
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
36.
FIN
AN
CIA
L RA
TIO
S O
F TH
E A
CCO
UN
TSRa
tio20
1120
1220
1320
1420
15
Curr
ent R
atio
(Cur
rent
ass
ets
min
us re
stric
ted
asse
ts)
1.98
:12.
18:1
1.65
:11.
22:1
1.56
:1(C
urre
nt lia
biliti
es m
inus
liabi
lities
ass
ociat
ed w
ith re
stric
ted
asse
ts)
Deb
t Ser
vice
Cov
er R
atio
Annu
al Op
erat
ing
Surp
lus
befo
re in
tere
st a
nd e
xpen
ditu
re7.
69.
9521
.76
30.0
910
.03
Prin
cipal
and
Inte
rest
Ow
n So
urce
Rev
enue
Cov
erag
e Ra
tio
Own
Sour
ce O
pera
ting
Expe
nse
0.91
0.97
1.15
1.39
1.09
Oper
atin
g Ex
pens
e
Ope
rati
ng S
urpl
us R
atio
Oper
atin
g Re
venu
e le
ss O
pera
ting
Expe
nse
-1.4
%4.
3%19
.1%
33.0
%18
.3%
Own
Sour
ce O
pera
ting
Reve
nue
Ass
et C
onsu
mpt
ion
Rati
oDe
prec
iated
Rep
lacem
ent C
ost o
f Dep
recia
ble
Asse
ts56
.5%
56.7
%56
.9%
58.1
%54
.1%
Curre
nt R
eplac
emen
t Cos
t of D
epre
ciabl
e As
sets
Ass
et S
usta
inab
ility
Rat
ioCa
pita
l Ren
ewal
and
Repl
acem
ent E
xpen
ditu
re1.
051.
91.
141.
160.
64De
prec
iatio
n
Ass
et R
enew
al F
undi
ng R
atio
#NP
V of
Plan
ned
Capi
tal R
enew
s ov
er 1
0 ye
ars
N/A
N/A
1.0
1.0
1.0
NPV
of R
equi
red
Capi
tal E
xpen
ditu
re o
ver 1
0 ye
ars
# F
or t
he a
sset
rene
wal
fun
ding
rati
o, t
he a
ssum
ptio
n ha
s be
en m
ade
that
pla
nned
ass
et re
new
al e
xpen
ditu
re o
ver t
he n
ext
10
yea
rs w
ill b
e in
line
wit
h re
quir
ed c
apit
al e
xpen
ditu
re.
N/A
- D
ata
not
avai
labl
e.
105Financial Report
36.
FIN
AN
CIA
L RA
TIO
S O
F TH
E A
CCO
UN
TS (c
onti
nued
)
Curr
ent R
atio
Purp
ose:
To
ass
ess
adeq
uacy
of
wor
king
cap
ital
and
the
abili
ty to
sat
isfy
sho
rt te
rm o
blig
atio
ns.
Deb
t Ser
vice
Cov
er R
atio
Purp
ose:
To
mea
sure
the
abili
ty to
repa
y de
bt in
clud
ing
leas
e pa
ymen
ts.
Ow
n So
urce
Rev
enue
Cov
erag
e Ra
tio
Purp
ose:
To
mea
sure
the
abili
ty to
cov
er o
pera
ting
cos
ts f
rom
its
own
sour
ce o
f re
venu
e.
Ope
rati
ng S
urpl
us R
atio
Purp
ose:
To
mea
sure
the
abili
ty to
cov
er o
pera
tion
al c
osts
and
any
rem
aini
ng re
venu
e av
aila
ble
for c
apit
al
fund
ing
or o
ther
pur
pose
s.
Ass
et C
onsu
mpt
ion
Rati
o
Purp
ose:
To
mea
sure
the
exte
nt to
whi
ch d
epre
ciab
le a
sset
s ha
ve b
een
cons
umed
.
Ass
et S
usta
inab
ility
Rat
io
Purp
ose:
To
ass
ess
the
rate
of
repl
acin
g or
rene
win
g ex
isti
ng n
on fi
nanc
ial a
sset
s to
the
cons
umpt
ion
rate
of
tota
l ass
et s
tock
.
Ass
et R
enew
al F
undi
ng R
atio
Purp
ose:
To
mea
sure
the
abili
ty to
fun
d fu
ture
pro
ject
ed a
sset
rene
wal
or r
epla
cem
ent.
Not
es to
and
form
ing
part
of t
he F
inan
cial
Rep
ort
FOR
THE
YEA
R EN
DED
30
JUN
E 20
15
Administration/Civic Centre
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PO Box 15 FLOREAT 6014
T: 08 9347 6000
F: 08 9347 6060
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