NZDF
Public Documents
Public Documents Archive NZDF Annual Report
Annual Report 2009
Glossary of Terms Used Section 1: CDF Overview Section 2: Defence at a Glance Section 3: Statement of Service Performance Section 4: Veterans' Affairs New Zealand Section 5: Financial Statements and Notes
Statement of Departmental Expenses and Capital Expenditure against Appropriations Note 26: Appropriation Movements Note 25: Reconciliation of Net Surplus/ (Deficit) to Net Cash Flow from Operating Activities Note 24: Related Party Information Note 23: Derivative Financial Instruments Note 22: Categories of Financial Instruments Note 21: Financial Instruments Note 20: Events after Balance Date Note 19: Employee Entitlements Note 18: Provisions Note 17: Surplus Repayable to the Crown Note 16: Creditors and Other Payables Note 15: Intangible Assets Note 14: Property, Plant and Equipment Note 13: Inventories Note 12: Debtors and Other Receivables Note 11: Taxpayers’ Funds Note 10: Other Operating Expenses Note 9: Capital Charge Note 8: Depreciation and Amortisation Note 7: Operating Costs Note 6: Personnel Costs Note 5: Gains Note 4: Departmental Revenue Note 3: Crown Revenue Note 2: Budget Composition Note 1: Statement of Accounting Policies Schedule of Non-Departmental Assets Statement of Non-Departmental Expenditure and Appropriations Schedule of Non-Departmental Expenditure Statement of Capital Expenditure Statement of Contingent Liabilities and Assets Statement of Commitments Statement of Cash Flows Statement of Financial Position Statement of Movements in Taxpayers’ Funds Statement of Financial Performance Audit Report Statement of Responsibility
Annual Report 2008 Annual Report 2007
Statement of Intent NZDF Strategic Plan Development Plan Military Doctrine Public Consultation Viet Nam Veterans Defence Expenditure: Budget Documents Timor Leste

Note 14: Property, Plant and Equipment

  Land
($000)		 Buildings
($000)		 Specialist
Military
Equipment
($000)		 Plant &
Equipment
($000)		 Office &
Computer
Equipment
($000)		 Total
($000)
Net PPE at 30 June 2007 384,700 905,652 2,943,339 110,828 34,465 4,378,984
 
Cost or Valuation            
Balance at 1 July 2007 384,700 941,901 3,516,579 240,422 70,239 5,153,841
Additions - 21,069 78,213 15,323 7,287 121,892
Revaluation 194,320 82,561 (164,199) - - 112,682
Disposal - (89) (15,651) (7,331) (3,018) (26,089)
Work in progress - 17,186 237,271 (1,980) (11,456) 241,021
Balance at 30 June 2008 579,020 1,062,628 3,652,213 246,434 63,052 5,603,347
 
Accumulated Depreciation            
Balance at 1 July 2007 - (36,249) (573,240) (129,594) (35,774) (774,857)
Depreciation expense - (33,991) (222,338) (13,058) (5,612) (274,999)
Eliminated on disposal - 10 2,541 5,897 2,931 11,379
Eliminated on revaluation - 62,556 329,656 - - 392,212
Balance at 30 June 2008 - (7,674) (463,381) (136,755) (38,455) (646,265)
 
Net PPE at 30 June 2008 579,020 1,054,954 3,188,832 109,679 24,597 4,957,082
 
Cost or Valuation            
Balance at 1 July 2008 579,020 1,062,628 3,652,213 246,434 63,052 5,603,347
Additions - 19,982 265,755 12,499 4,930 303,166
Impairment loss - (32,591) - - - (32,591)
Revaluation (57,458) (32,752) 333,689 - - 243,479
Disposal (337) (4,304) (16,393) (6,976) (4,505) (32,515)
Transfers - (2,218) 6,993 (2,448) (2,151) 176
Work in progress - 19,149 41,741 1,254 3,599 65,743
Balance at 30 June 2009 521,225 1,029,894 4,283,998 250,763 64,925 6,150,805
Accumulated Depreciation            
Balance at 1 July 2008   (7,674) (463,381) (136,755) (38,455) (646,265)
Depreciation expense   (31,674) (250,295) (13,601) (5,132) (300,702)
Eliminated on disposal   210 24,633 5,845 4,499 35,187
Eliminated on revaluation   18,789 225,208 - - 243,997
Transfers   36 (2,903) 857 1,900 (110)
Balance at 30 June 2009   (20,313) (466,738) (143,654) (37,188) (667,893)
 
Net PPE at 30 June 2009 521,225 1,009,581 3,817,260 107,109 27,737 5,482,912

There are no restrictions over the title of the NZDF’s property, plant and equipment, nor is any item of property, plant and equipment pledged as security for liabilities.

Revaluation

The land and buildings revaluation was conducted by Mike Sellars FNZIV, RPINZ, from Sellars Valuation Limited, an independent registered valuer.

The specialist military equipment revaluation was reviewed by Marvin Clough BE (Electrical) Plant, Machinery and Infrastructure and Kyle Baxter AAPI, ASA, AVAA, Certified Practicing Value (Plant and Machinery) from Beca Valuations Limited, an independent registered valuer.

Land, buildings and specialist military equipment have been revalued to fair value as at 30 June 2009.

Work in Progress

The NZDF reimburses the Ministry of Defence twice annually for costs incurred on capital projects. This has the effect of transferring non-departmental capital expenditure from the Ministry of Defence to the NZDF Statement of Financial Position.

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This page was last reviewed on 1 October 2009, and is current.