1. What is the Parks and Recreation budget of $12.01 million made up of?
The $12.01 million dollars is made up of two components. $8.65 million is the operating cost and includes labour, plant and materials. The remaining $3.36 million is the cost of depreciation.
2. What is depreciation?
Depreciation is a method of allocating the cost of a tangible asset over its useful life (it ensures the Council can continually replace assets as they wear out).