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TOWN OF VICTORIA PARK NOTES TO AND FORMING PART OF THE FINANCIAL REPORT FOR
THE YEAR ENDED 30 JUNE 2022
8.INFRASTRUCTURE (Continued)
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(b) Carrying Value Measurements
* Other Infrastructure includes assets such as street lighting, shelters, parklets and public art.
Level 3 inputs are based on assumptions with regards to future values and patterns of consumption utilising current information.
result in a significantly higher or lower fair value measurement.
During the period there were no changes in the valuation techniques used to determine the fair value of infrastructure using
Valuation
Date of Last Valuation Inputs Used
registered June 2020
Construction costs and current condition, residual values and remaining useful life assessments including the cost of removal and disposal of existing assets registered June 2020
Construction costs and current condition, residual values and remaining useful life assessments including the cost of removal and disposal of existing assets registered June 2020
Construction costs and current condition, residual values and remaining useful life assessments including the cost of removal and disposal of existing assets registered June 2020
Construction costs and current condition, residual values and remaining useful life assessments registered June 2020 information. If the basis of these assumptions were varied, they have the potential to
Town Of Victoria Park Notes To And Forming Part Of The Financial Report For The Year Ended 30 June 2022
9.FIXED ASSETS
(a)Depreciation
(b)
Typical estimated useful lives for the different asset classes for the current and prior years are included in the table below:
The gross carrying value of assets held by the Town which are currently in use yet fully depreciated are shown in the table below.
TOWN OF VICTORIA PARK
NOTES TO AND FORMING PART OF THE FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2022
9.FIXED ASSETS (Continued)
The following assets were disposed of during the year.
