Noosa Council Annual Report 24/25

Noosa Council                                                                                                                        Noosa Council
Statement of Cash Flows                                                                                                              Notes to the Financial Statements
for the year ended 30 June 2025                                                                                                      for the year ended 30 June 2025

                                                                                                                                     Note 1. Information about these Financial Statements
§Statement§




$ '000                                                                                  Notes                2025          2024
                                                                                                                                     §Note/Subtotal§
                                                                                                                                     §Subnote§




Cash Flows from Operating Activities                                                                                                 (a) Basis of preparation
Receipts from Customers                                                                                   133,585       123,206
Payments to Suppliers and Employees                                                                                                  The Noosa Shire Council is constituted under the Queensland Local Government Act 2009 and is domiciled in Australia.
                                                                                                        (139,191)     (116,690)
                                                                                                           (5,606)        6,516      These general purpose financial statements are for the period 1 July 2024 to 30 June 2025. They are prepared in accordance
Receipts                                                                                                                             with the Local Government Act 2009 and the Local Government Regulation 2012.
Rental Income                                                                                                1,860        1,665
                                                                                                                                     Council is a not-for-profit entity for financial reporting purposes and the financial statements comply with Australian Accounting
Income Tax Equivalent Received                                                                               1,611        1,400
                                                                                                                                     Standards and Interpretations issued by the Australian Accounting Standards Board (AASB).
Dividend from Equity Investment                                                                              1,954        2,326
Interest and Investment Revenue Received                                                                     8,183        8,034      These financial statements have been prepared under the historical cost convention except for the revaluation of certain
Non Capital Grants and Contributions                                                                         6,999        4,070      classes of property, plant and equipment and investment property.
Payments
Borrowing Costs                                                                                              (214)         (187)     (b) New and revised Accounting Standards adopted during the year
Net Cash Inflows/(Outflows) from Operating Activities                                     27              14,787        23,824
                                                                                                                                     Noosa Council adopted all standards which became mandatorily effective for annual reporting periods beginning on 1 July
Cash flows from Investing Activities                                                                                                 2024, none of the standards had a material impact on the reported position, performance and cash flows.
Receipts
Proceeds from Sale of Property, Plant and Equipment                                                           424           140      The relevant standards for Noosa were:
Grants, Subsidies, Contributions and Donations                                                             64,297        35,447        • AASB 101 Presentation of Financial Statements (amended by AASB 2020-1, AASB 2020-6, AASB 2022-6, AASB
Payments                                                                                                                                   2023-3) relating to current/non-current classification of liabilities.




                                                                                                                                                                                                                                                                          Noosa Council Annual Report 24/25
Net movement in Loans and Advances                                                                                                     • AASB Fair Value Measurement (amended by AASB 2022-10).
                                                                                                                 –           125
Payments for Property, Plant and Equipment                                                                (74,686)      (69,757)
Transfers from/(to) Investments                                                                              4,172        10,000     (c) Standards issued by the AASB not yet effective
Net Cash Inflows/(Outflows) from Investing Activities                                                    (5,793)      (24,045)       The AASB has issued Australian Accounting Standards and Interpretations which are not mandatorily effective at 30 June
                                                                                                                                     2025, these standards have not been adopted by Council and will be included in the financial statements on their effective date.
Cash Flows from Financing Activities                                                                                                 Where the standard is expected to have a significant impact for Council then further information has been provided in this note.
Receipts
Proceeds from Borrowings                                                                                          –       1,549      Council has assessed all the standards / interpretations currently issued which are not yet effective and have determined that
Payments                                                                                                                             there is no expected material impact on the reported financial position or performance.
Repayment of Borrowings                                                                                    (1,882)       (1,709)
Net Cash Inflows/(Outflows) from Financing Activities                                                    (1,882)          (160)      (d) Estimates and Judgements
Net Increase/(Decrease) in Cash and Cash Equivalents held                                                                            Councils make a number of judgements, estimates and assumptions in preparing these financial statements. These are based
                                                                                                           7,112          (381)
                                                                                                                                     on the best information available to Council at the time, however due to the passage of time, these assumptions may change
                                                                                                                                     and therefore the recorded balances may not reflect the final outcomes. The significant judgements, estimates and assumptions
Cash and Cash Equivalents at the beginning of the Financial Year                                                                     relate to the following items and specific information is provided in the relevant note:
                                                                                                           76,126        76,507
Cash and Cash Equivalents at the end of the financial year                                10              83,238        76,126                         •   Revenue Recognition - Note 3
                                                                                                                                                       •   Valuation of Investment Property - Note 14
plus: Investments on hand – end of year                                                   10               25,828        30,000                        •   Valuation and Depreciation of Property, Plant and Equipment - Note 15
Total Cash, Cash Equivalents and Investments                                                            109,066       106,126                          •   Contract Balances - Note 17
                                                                                                                                                       •   Provisions - Note 21
The above statement should be read in conjunction with the accompanying notes and material accounting policies.                                        •   Contingent Liabilities - Note 25

                                                                                                                                     (e) Rounding and Comparatives
                                                                                                                                     The financial statements are in Australian dollars and have been rounded to the nearest $1,000, or where that amount is $500
                                                                                                                                     or less, to zero.

                                                                                                                                     Comparative information is generally restated for reclassifications, errors and changes in accounting policies unless permitted
                                                                                                                                     otherwise by transition rules in a new Accounting Standard.

                                                                                                                                     (f) Volunteer Services
                                                                                                                                     Council currently utilises volunteer resources at Noosa Community Support Centre, Noosaville & Cooroy Libraries, Noosa
                                                                                                                                     Botanic Gardens, Noosa Bushland Care and Noosa Gallery.

                                                                                                                                     Council has not recognised the value of volunteer services in these financial statements as the value donated cannot be reliably
                                                                                                                                     measured at this time. Furthermore, if these volunteer services had not been donated they would not have been procured.


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