❓ Hon Diane Evers questions the Minister for Forestry regarding revenue increases and biological asset valuation changes reported in the Forest Products Commission's 2016-17 Annual Report. The Minister provides explanations for the revenue increase and refers to specific pages in the report for details on the asset valuation.
AnsweredQoN 417Legislative Council
QuestionView source ↗
I refer to the
Forest Product Commissions 2016-17 Annual Eeport
, and ask, can the Minister please:
(a) advise what is driving the Native Forest segment revenue increase from $32.5 million in 2015-16 to $36.6 million in 2016-17 (pages 109-110);
(b) advise what is driving the change in biological asset valuation from a decrease of $5.9 million in 2015-16 to a decrease of only $144,000 in 2016-17 (pages 109-110); and
(c) table the calculations for the biological asset valuation for 2015-16 and 2016-17 (pages 109-110)?
Forest Product Commissions 2016-17 Annual Eeport
, and ask, can the Minister please:
(a) advise what is driving the Native Forest segment revenue increase from $32.5 million in 2015-16 to $36.6 million in 2016-17 (pages 109-110);
(b) advise what is driving the change in biological asset valuation from a decrease of $5.9 million in 2015-16 to a decrease of only $144,000 in 2016-17 (pages 109-110); and
(c) table the calculations for the biological asset valuation for 2015-16 and 2016-17 (pages 109-110)?
AnswerView source ↗
Answered
5 December 2017
Responded by
Minister for Regional Development representing the Minister for Forestry
Response time
9 days
(a) Revenue in 2016 was impacted by a reduction in deliveries to major customers and production interruptions as a result of issues such as fire.
The increase in native forest revenue is due to the sale of an additional 84,000 tonnes in 2017 compared to 2016, primarily in karri sawlog, marri residue and jarrah firewood, karri sawlog and marri residue products.
(b) I refer Hon Member to the notes on page 81 of the Forest Products Commission’s (FPC) 2016-17 Annual Report which describe the drivers of the valuation change in terms of volume, revenue and expense movements. [See tabled paper no.].
(c) The valuation technique and significant inputs to the calculations of the biological asset valuation of native forest biological asset for 2015-16 and 2016-17 are described on page 84 of the FPC’s 2016-17 Annual Report. [See tabled paper no.]. The calculations for the biological asset valuations are attached. [See tabled paper no.].
The increase in native forest revenue is due to the sale of an additional 84,000 tonnes in 2017 compared to 2016, primarily in karri sawlog, marri residue and jarrah firewood, karri sawlog and marri residue products.
(b) I refer Hon Member to the notes on page 81 of the Forest Products Commission’s (FPC) 2016-17 Annual Report which describe the drivers of the valuation change in terms of volume, revenue and expense movements. [See tabled paper no.].
(c) The valuation technique and significant inputs to the calculations of the biological asset valuation of native forest biological asset for 2015-16 and 2016-17 are described on page 84 of the FPC’s 2016-17 Annual Report. [See tabled paper no.]. The calculations for the biological asset valuations are attached. [See tabled paper no.].
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