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The Graduate Union of the University of Melbourne Inc.
ABN: 55 610 664 963
Notes to the Financial Statements (continued) for the year ended 31 December 2022
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Movement in carrying amounts
IARN: A0023234B
Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the financial year.
The Council Members reviewed the carrying amount of the buildings as at balance date and have determined the carrying amounts of the Leicester Street Carlton and Level 7, 50 Barry Street Carlton is as per the 12 September 2018 valuation and the carrying amount for 24 Barkly Place Carlton is as per the purchase price plus initial repairs.
Based on this review and considering council rates and the current market, a revaluation increase of $ 248,434 was recognised in the Statement of Comprehensive Income for the year ended 31 December 2022
