Department of Sustainability, Environment, Water, Population and Communities

1. Refer to Note 18E for further information.

No intangibles are expected to be sold or disposed of within the next 12 months.

TABLE B: Reconciliation of the Opening and Closing Balances of Intangibles (2012-13)
	Water Assets^1	Computer software internally developed	Total
	$’000	$’000	$’000
As at 1 July 2012
Gross book value	2,289,793	5,791	2,295,584
Accumulated amortisation and impairment	(352,956)	-	(352,956)
Net book value 1 July 2012	1,936,837	5,791	1,942,628
Additions:
By purchase or internally developed^1	233,578	6,853	240,431
Assets received free of charge	35,427	-	35,427
From jointly controlled assets in Living Murray Initiative JV	-	-	-
Impairments recognised in the operating result	(343,406)	-	(343,406)
Reversal of impairments recognised in the operating result	112	-	112
Amortisation	-	(413)	(413)
1,862,548__12,231'>Net book value 30 June 2013	1,862,548	12,231	1,874,779
Net book value as of 30 June 2013 represented by:
Gross book value	2,558,798	12,644	2,571,442
Accumulated amortisation and impairment	(696,250)	(413)	(696,663)
	1,862,548	12,231	1,874,779

1. 
   Under the Sustainable Rural Water Use and Infrastructure Program (SRWUIP), there are a number of projects which improve the efficiency of irrigation infrastructure and generate savings in the use of water. As part of the SRWUIP funding arrangement, the Australian Government will take a share of that water saving in the form of a water entitlement for use in delivering the Government’s environmental watering objectives. In 2013, the Department acquired $119.189m of water entitlements under this program.
   

TABLE B (Cont'd): Reconciliation of the Opening and Closing Balances of Intangibles (2011-12)
	Water Assets^1	Computer software internally developed	Total
	$’000	$’000	$’000
As at 1 July 2011
Gross book value	1,674,968	3,265	1,678,233
Accumulated amortisation and impairment	(282,370)	-	(282,370)
Net book value 1 July 2011	1,392,598	3,265	1,395,863
Additions:
By purchase or internally developed^1	598,524	2,526	601,050
Assets received free of charge	15,771	-	15,771
From jointly controlled assets in Living Murray Initiative JV	530	-	530
Impairments recognised in the operating result	(74,262)	-	(74,262)
Reversal of impairments recognised in the operating result	3,676	-	3,676
Net book value 30 June 2012	1,936,837	5,791	1,942,628
Net book value as of 30 June 2012 represented by:
Gross book value	2,289,793	5,791	2,295,584
Accumulated amortisation and impairment	(352,956)	-	(352,956)
	1,936,837	5,791	1,942,628

1. 
   Under the Sustainable Rural Water Use and Infrastructure Program (SRWUIP), there are a number of projects which improve the efficiency of irrigation infrastructure and generate savings in the use of water. As part of the SRWUIP funding arrangement, the Australian Government will take a share of that water saving in the form of a water entitlement for use in delivering the Government’s environmental watering objectives. In 2012, the Department acquired $57.353m of water entitlements under this program.
   

	2013		2012
	$'000		$'000
Note 21D. Inventories
Inventories held for sale	12,559		11,896
Total inventories	12,559		11,896
Inventories are expected to be sold in:
No more than 12 months	111		105
More than 12 months	12,448		11,791
Total inventories	12,559		11,896

During 2013, $224,800 of inventory held for sale was recognised as an expense (2012: $207,660).
No items of inventory were recognised at fair value less cost to sell.