2019-12-10 P&E Agenda - Item 6 - Attachment 1 - NBRF Annual Report 2018-19

                                                     NOOSA BIOSPHERE RESERVE FOUNDATION - 2018/19




2. FISCAL ACCOUNTS HEADLINES


The Auditors report and the statutory accounts are         substantially increased media and communication
included in detail at Appendix A.                          approach.

We are required to report against relevant accounting      We do not have any employees but hire expert help
standards. This complicates the presentation as            from consultants as required. In this way, we believe
grants can only be counted as income as they are           we can be more effective using a small part of a
paid out and not when received. The balance of the         specific expert rather than employing one generalist.
grant is held on the balance sheet as an asset with an
offsetting liability.                                      Of the other expenses, the principal items are
                                                           accounting/bookkeeping, audit fees, and insurance.
Also, the fiscal accounts consolidate the financials       Total expenses has remained relatively level at around
into one P&L. On an operational management basis,          $22,000 per annum. The increase shows increased
we measure financials by project and use cash based        investment in communication.
accounting to give a simpler set of management
accounts (see next section).                               The full detail of the operational expenses is shown
                                                           on page 13 of the Auditors Report.
Using the Auditors fiscal figures:-
                                                           BALANCE SHEET
INCOME
                                                           NBRF has no significant capital assets.
In summary, NBRF had a total income of $497,714.
                                                           Our total assets are $498,501 of which $498,501
$179,027 was provided by Council from the                  are the Foundation’s deposits reflecting grants not
Environmental Levy in line with the second round of        yet paid out or allocated. The drop in assets reflects
projects.                                                  grants completed.

$172,000 was used in operational expenses with             Total liabilities are $359,851 and liabilities for planned
$140,000 provided by Council and $32,000 from              grants rounds are $341,862.
reserves.
                                                           This figure includes remaining funding for the large
$71 interest was received from deposits.                   projects of 2015/16, the new projects of the 2017/18
                                                           round, new initiatives plus monies not allocated at
EXPENDITURE                                                present.

The Auditor shows expenses as $411,602 giving an           The difference between assets and liabilities is a
increase in Net Equity of $86,183.                         surplus on operational expenditure of $138,640
                                                           carried forward to 2019/20 for the increased activity
Of the total of $411,602, payments to project grants       envisaged.
totalled $357,714.

This leaves operational costs of $53,888. This is lower    We would be happy to answer any more detailed
than usual due to the changed approach to “Big             questions but hope this gives an easily digested
Ideas”. The carry forward will be used in FY19/20          picture of Fiscal 2018/19.
which will be a big year.

Of this $29,125 are people and consultancy costs,
and $24,763 are other expenses.

During 2018/19, we finished off many grant projects,
planned new strategic initiatives and actioned a



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