Doc haven unusual way of accounting for things which is a large part of why they want rid of huts and are not always that keen on major renovations.
Everything has to be defined as an asset and every asset defined a value. So far so good but there is this dirty little secret called depreciation. The depreciation is treated as a normal expense and is therefore funded out of the operating budget. I dont know the percentages but if we assume 10% and take a hut like Totora Flats which opened some years ago at a well publicized price of 500K then each year Doc has to find 50K to fund that depreciation.. If that hut had still been the 2nd hut built for at a guess 60K then that amount would of been 6k. This is one of the reasons they want to offload ownership of huts to other organizations as they can give a hut away and no longer depreciate it.
When the new hut is built at Waitararu it will not be owned by Doc even though they will supply a fair chunk of the funding and the hut will be on the same terms as every other standard hut in the Tararuas
