ROYAL ADELAIDE HOSPITAL

In reply to Dr McFETRIDGE (Morphett) (30 June 2011) (Estimates Committee A).

The Hon. J.D. HILL (Kaurna—Minister for Health and Ageing, Minister for Mental Health and Substance Abuse, Minister for the Arts): I am advised:

1. In accordance with accepted accounting practices, SA Health updates valuations of its assets on a triennial basis. The last valuation of assets was undertaken in 2009. At that time, the current value (being the Fair Value or Written-Down Replacement Cost) of the Royal Adelaide Hospital was deemed to be $146,189,700.

This is the figure recognised in the accounting records for SA Health.

2. Currently a Master Planning exercise is being undertaken to assess the options for the Frome Road precinct.

3. The government will not be writing off $1 billion.