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Noosa Council Annual Report 24/25
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Noosa Council Noosa Council
Notes to the Financial Statements Notes to the Financial Statements
for the year ended 30 June 2025 for the year ended 30 June 2025
Note 27. Reconciliation of Net Result for the year to Net Cash Inflow/(Outflow) from Note 28. Events after the reporting period
Operating Activities §Note/Subtotal§
§Subnote§
§Note/Subtotal§
§Subnote§
$ '000 2025 2024
There has not been any event that occurred after the end of the reporting period that has significantly affected, or may
significantly affect, the current or future fnancial results of the Council.
Net Operating Result from Income Statement 60,903 46,822
Non-Cash items
Depreciation and Amortisation 22,251 22,170
Note 29. Financial Instruments and Financial Risk Management
§Note§
Non-Cash Capital Contributions (1,782) (1,767)
20,469 20,403
§Subnote§
Noosa Shire Council has exposure to the following risks arising from financial instruments; (i) credit risk, (ii) liquidity risk, and
Losses/(Gains) recognised on fair value re-measurements through the Income (iii) market risk.
Statement
Investment Properties – 250 This note provides information (both qualitative and quantitative) to assist statement users evaluate the significance of financial
Movement in Restoration Provisions (5,929) 529 instruments on the Council's financial position and financial performance, including the nature and extent of risks and how the
(5,929) 779 Council manages these exposures.
Investing and Development activities Council has reviewed its exposure to financial risk and at present does not anticipate likelihood of increased financial risk
Net (profit)/loss on disposal of assets 58 – through either the decline in credit rating of financial institutions or increased levels of default in receivables.
Loss on write-off of assets 10,203 19,916
Financial Risk Management
§Subnote§
Capital Grants and Contributions (64,297) (35,448)
Noosa Council Annual Report 24/25
Share of Net (Profits)/Losses of Associates (7,690) (6,490)
Impairment of Receivables and Bad Debts Written Off Council is responsible for the establishment and oversight of the risk management framework, together with developing and
– 28
monitoring risk management policies.
Interest Expense capitalised in QTC loans 710 670
(61,016) (21,324) Council's management approves policies for overall risk management, as well as specifically for managing credit, liquidity
and market risk.
Changes in Operating Assets and Liabilities:
(Increase)/Decrease in Receivables 2,834 (4,118) The Council's risk management policies are established to identify and analyse the risks faced, to set appropriate limits and
(Increase)/Decrease in Inventories (4) (39) controls and to monitor these risks and adherence against limits. The Council aims to manage volatility to minimise potential
(Increase)/Decrease in Contract Assets 3,900 (6,004) adverse effects on the financial performance of the Council.
(Increase)/Decrease in Other Assets 1,954 2,326
The Council's Audit and Risk Committee (ARC) oversees how management monitors compliance with the Council's risk
Increase/(Decrease) in Payables (12,445) 2,417 management policies and procedures, and reviews the adequacy of the risk managements framework in relation to the risks
Increase/(Decrease) in Contract Liabilities 6,518 (16,476) faced by the Council. The ARC is assisted in its oversight role by internal audits conducted by external consultants, the results
Increase/(Decrease) in Employee Leave Entitlements (482) 907 of which are reported to the ARC. Council's internal audit register, which is approved by the ARC, details target areas and
Increase/(Decrease) in Other Liabilities (1,915) (1,869) the timing for the completion of internal audits.
360 (22,856)
Council does not enter into derivatives.
Net Cash provided from/(used in) Operating Activities from the
Statement of Cash Flows 14,787 23,824 Credit Risk
§Subnote§
Credit risk is the risk of financial loss if a counterparty to a financial instrument fails to meet its contractual obligations. These
obligations arise principally from the Council's investments and receivables from customers.
Exposure to credit risk is managed through regular analysis of credit counterparty ability to meet payment obligations. The
carrying amount of financial assets represents the maximum credit exposure.
Investments in financial instruments are required to be made with Queensland Treasury Corporation (QTC) or similar
State/Commonwealth bodies or financial institutions in Australia, in line with the requirements of the Statutory Bodies Financial
Arrangements Act 1982.
No collateral is held as security relating to the financial assets held by Noosa Shire Council.
The carrying amounts of financial assets at the end of the reporting period represent the maximum exposure to credit risk
for the Council.
The Council may be exposed to credit risk through its investments in the QTC Cash Fund and QTC working capital facility.
The QTC Cash Fund is an asset management portfolio that invests with a wide range of high credit rated counterparties.
Deposits with the QTC cash fund are capital guaranteed. Working capital facility deposits have a duration of one day and all
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