In the “Annual Report for year ended 30 June 2015

Note 1: Concessions, leases and licences
 

30/06/14
Actual
$000

30/06/15
Actual
$000

Guiding

2,793

3,326

Telecommunications

1,978

1,720

Grazing

1,438

1,585

Tourism occupations

1,399

1,782

Ski areas

1,883

1,111

Sporting and special events

78

75

Aircraft landings

1,036

1,443

Residential/recreational

1,069

857

Other occupations

685

774

Vehicle transport

267

351

Boating

385

1,150

Filming

142

208

Easements

385

531

Extractions fees

56

86

Miscellaneous

183

262

Total concessions, leases and licences

13,777

15,261

Note 2: Non-current assets held for sale
 

30/06/14
Actual
$000

30/06/15
Actual
$000

Land*

14,157

8,387

Total non-current assets held for sale

14,157

8,387

* Comprises mainly of land that has been identified for settlement of Treaty of Waitangi claims.

Note 3: Property, plant and equipment
 

Land
$000

Buildings
$000

Infrastructure
$000

Cultural assets
$000

Total
$000

Cost or valuation

Balance at 1 July 2013

5,349,792

77,694

13,197

5,100

5,445,783

Additions

10,398

-

(6)

-

10,392

Revaluation movement

59,255

945

-

-

60,200

Disposals

637

-

-

-

637

Assets transferred to current assets

(1,642)

-

-

-

(1,642)

Balance at 30 June 2014

5,418,440

78,639

13,191

5,100

5,515,370

Balance at 1 July 2014

5,418,440

78,639

13,191

5,100

5,515,370

Additions

9,965

-

1,730

-

11,695

Revaluation movement

149,441

1,138

-

-

150,579

Disposals

(1,196)

-

-

-

(1,196)

Assets transferred to Crown Entities

(69,039)

-

-

-

(69,039)

Assets transferred to current assets

(97)

-

-

-

(97)

Balance at 30 June 2015

5,507,514

79,777

14,921

5,100

5,607,312

Accumulated depreciation

Balance at 1 July 2013

-

46,183

205

-

46,388

Depreciation expense

-

793

131

-

924

Revaluation movement

-

575

-

-

575

Disposals

-

-

-

-

-

Balance at 30 June 2014

-

47,551

336

-

47,887

Balance at 1 July 2014

-

47,551

336

-

47,887

Depreciation expense

-

803

162

-

965

Revaluation movement

-

651

-

-

651

Disposals

-

-

-

-

-

Balance at 30 June 2015

-

49,005

498

-

49,503

Carrying amounts

At 30 June 2013

5,349,792

31,511

12,992

5,100

5,399,395

At 30 June 2014

5,418,440

31,088

12,855

5,100

5,467,483

At 30 June 2015

5,507,514

30,772

14,423

5,100

5,557,809

Land is initially recognised at cost and is revalued annually based on rateable valuations provided by Quotable Value. Individual land lots are only updated every three years by Quotable Value using a mass appraisal process. Land not matched to an assessment is valued using an average per hectare rate. These values were certified as fair value by an independent registered valuer. The valuation is effective as at 30 June 2015.

The use and disposal of Crown land managed by the Department is determined by legislation. The main Acts are the Reserves Act 1977, the Conservation Act 1987 and the National Parks Act 1980. These Acts impose restrictions on the disposal of surplus areas and the use of reserves, conservation areas and national parks.

Crown land is not subject to mortgages or other charges. Specific areas may be included in Treaty settlements if the Crown decides to offer those areas to claimants.

Historic buildings used for rental activities were valued by an independent registered valuer. The valuation is effective as at 30 June 2015. Given the historic nature of these buildings, fair value has been determined using depreciated replacement cost.

The Department has a number of heritage assets under its care due to the historical significance of these assets to New Zealand. The cost of heritage assets is not able to be reliably measured given the nature of these assets and accordingly these assets are not able to be recognised on the schedule of assets.

Note 4: Provisions

Environmental provisions

This is the estimated cost of rectifying the environmental damage in the following affected or contaminated sites that the Crown has an obligation to remedy:

  • The tailings and tunnels in the Maratoto Mine, which may excrete contaminants in the water.
  • A number of abandoned coalmines, both underground and open cast, within the Benneydale, Mahoenui, Pirongia, Waitewhenua and Ohura coalfields. The risks of contamination are associated with the treatment ponds, tailing dams and underground drives.

Earthquake repairs

A provision of $0.5 million has been recognised in the financial statements for the year ending 30 June 2015 being the anticipated cost to repair damage to the Old Government Building following the 2013 earthquakes in Wellington.

Designations

There is a provision ($0.05 million) relating to a designation on private land in Auckland to protect the property from development.

Note 5: Events after balance date

No significant events that may impact on the actual results have occurred between year-end and the signing of these financial statements (2014: none).

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