124 124 AUSTRALIAN SPORTS COMMISSION ANNUAL REPORT 2016–17 FINANCIAL PERFORMANCE Note 5: Non-financial assets Reconciliation of the opening and closing balances of property, plant, equipment and intangibles (2016-17) Land Buildings & land improvements Total land, buildings & land improvements Infrastructure, plant & equipment Purchased software Internally developed software Total Computer Software Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 As at 1 July 2016 Gross book value 10,000 531,509 541,509 30,336 5,686 4,605 10,291 582,136 Accumulated depreciation and impairment - (316,858) (316,858) (17,444) (4,656) (2,343) (6,999) (341,301) Net book value 1 July 2016 10,000 214,651 224,651 12,892 1,030 2,262 3,292 240,835 Additions: By purchase - 8,036 8,036 4,253 840 - 840 13,129 by internal development - - - - - 87 87 87 Write-down and impairment recognised in the net cost of services - (883) (883) (68) (111) - (111) (1,062) Disposals: Written-down value of assets sold - - - (769) - - - (769) Depreciation and amortisation - (18,252) (18,252) (3,741) (425) (762) (1,187) (23,180) Net book value 30 June 2017 10,000 203,552 213,552 12,567 1,334 1,587 2,921 229,040 Net book value as of 30 June 2017 represented by: Gross book value 10,000 534,845 544,845 30,135 6,309 4,692 11,001 585,981 Accumulated depreciation - (331,293) (331,293) (17,568) (4,975) (3,105) (8,080) (356,941) Total as at 30 June 2017 10,000 203,552 213,552 12,567 1,334 1,587 2,921 229,040 The above carrying values include work in progress costs for buildings and land improvements ($3,164,791) and computer software ($752,824). Revaluation of property, plant and equipment AUSTRALIAN SPORTS COMMISSION NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS For the year ended 30 June 2017 Contractual commitments for the acquisition of property, plant, equipment and intangibles The Commission had $2,311,461 outstanding contractual commitments for property, plant, equipment and intangibles as at 30 June 2017 (2016: $155,367). Contractual commitments primarily relate to equipment purchases. The Commission expects all contractual commitments to be settled within 12 months. All revaluations were conducted in accordance with the revaluation policy stated at Note 1. An independent valuer conducted the most recent revaluation of land and buildings as at 30 June 2016 and infrastructure, plant and equipment as at 31 December 2014.