2016-02-11
4696. MS DUNN — To ask the Minister for Agriculture: In relation to the 2014–2015 VicForests Annual Report which indicates the regeneration of logging coupes is recorded as an asset of $28 million, rather than an expense and cost of conducting business:
(1) How is the cost of logging coupe regeneration assessed;
(2) Who assesses the cost of logging coupe regeneration;
(3) When did this assessment last take place;
(4) Given that a significant proportion of logging coupes fail to regenerate, is there any write-off for such occurrences;
(5) Has there been any assessment of climate change and the impact that this would have on logging coupe regeneration;
(6) Have specific assessments taken place on the cost of regeneration for individual logging coupes; and
(7) What steps have VicForests taken to assess the value of their assets.
ANSWER:
1. The cost of regeneration reported in VicForests 2014-15 Annual Report is the actual cost of regeneration.
2. VicForests assesses and reports on the regeneration costs.
3. The costs of regeneration are recorded when they are incurred and reported at the end of the year.
4. There has not been significant failure of regeneration of coupes by VicForests. There has been no 'write off' by VicForests of regeneration costs.
5. No.
6. The actual costs incurred are recorded on a coupe by coupe basis.
7. VicForests revalues their biological assets each year as described within note 1 (m) page 31 of the 2014-2015 VicForests Annual Report.
Hon Jaala Pulford MP
Minister for Agriculture