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❓ WA Parliamentary Question on Notice regarding finance leases held by agencies within the Minister's portfolio (Water; Sport and Recreation; Forestry). Only the Water Corporation reported a relevant lease for the Mundaring Water Treatment Plant.

AnsweredQoN 5596Legislative Assembly

Asked

30 June 2016

Member

Mr W.J. Johnston

Portfolio

Water; Sport and Recreation; Forestry

QuestionView source ↗

I refer to Note 3: Summary of Significant Accounting Policies, and specifically to sub-note (r) Leases on page 81 of the Annual Report of State Finances 2014-15, and I ask: (a) for each agency in the Minister's portfolio, please detail each finance lease that has been entered into since 8 September 2008 and currently in force for each agency; (b) for each such lease, please specify the specific infrastructure or property, plant or equipment that has been financed by such a lease, what value was assigned to that infrastructure or property, plant or equipment at the time the lease was created, and what is the current value of that infrastructure or property, plant or equipment; (c) for each such lease, who is the counter party for each lease, and on what date did each lease come into force, and when is it expected that the lease will expire; (d) what was the original value of each such lease, and what is the current value of each lease; (e) for the specific infrastructure or property, plant or equipment financed by each such lease, what is the expected value of the item at the expiration of the lease; (f) for each such lease, is there an obligation to make a "balloon" or similar payment at the expiration of the lease, and if so, what is the value of any such payment, and when is it due to be made; and (g) what is the “interest rate implicit in the lease” for each such lease?

AnswerView source ↗

Answered

23 August 2016

Responded by

Minister for Water; Sport and Recreation; Forestry

Response time

54 days

Aqwest, Busselton Water, Combat Sports Commission, Department of Sport and Recreation, Department of Water, Forest Products Commission, VenuesWest and Western Australian Institute of Sport
(a) Nil
(b)-(g) Not applicable
Water Corporation
(a)     The arrangement for the construction and operation of the Mundaring Water Treatment Plant contains a lease.
(b)     The Mundaring Water Treatment Plant, with a value of $267 517 000 as of 6 December 2013 and value of $246 587 350 as of 30 June 2016.
(c)     Helena Water Pty Ltd. The lease came into force on 6 December 2013 and expires on 30 September 2048.
(d)     $267 517 000 as of 6 December 2013 and $247 696 780 as of 30 June 2016.
(e)     $83 423 938.
(f)     No.
(g)     10.48 per cent.

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