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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 29. Financial Instruments and Financial Risk Management (continued) Note 31. Trust funds
§Note/Subtotal§
§Subnote§
$ '000 2025 2024
The fair value of borrowings with QTC is based on the market value of debt outstanding. The market value of a debt obligation
is the discounted value of future cash flows based on prevailing market rates and represents the amount required to be repaid
Monies collected or held on behalf of other entities yet to be paid out to or on behalf of
if this was to occur at balance date. The market value of debt is provided by QTC and disclosed in Note 20.
those entities 5,478 5,570
QTC applies a book rate approach in the management of debt and interest rate risk, to limit the impact of market value 5,478 5,570
movements to clients' cost of funding. The book value represents the carrying value based on amortised cost using the effective
interest method.
Funds held in trust represent security deposits lodged to guarantee contract performance, operational works, event impacts
and maintenance obligations. Council performs only a custodian role in respect of these funds until such times as the underlying
obligations are met and the funds are released. As these funds cannot be used for Council purposes, they are not bought to
Note 30. National competition policy
§Note§
account in the financial statements.
§Subnote§
Where performance obligations are not met then the funds are transferred to Council as compensation towards undertaking
Business activities to which the code of competitive conduct is applied associated rectification works.
Council applies the competitive code of conduct to the following activities:
• Waste Management Note 32. Transactions with related parties
§Note§
• Holiday parks
(a) Subsidiaries (ie. entities and operations controlled by Council)
§Subnote§
This requires the application of full cost pricing, identifying the cost of community service obligations (CSO) and eliminating
the advantages and disadvantages of public ownership within that activity.
Noosa Council Annual Report 24/25
Council has no interest in any Subsidiaries.
The CSO value is determined by Council, and represents an activities cost(s) which would not be incurred if the primary
(b) Associates
§Subnote§
objective of the activities was to make a profit. The Council provides funding from general revenue to the business activity to
cover the cost of providing non-commercial community services or costs deemed to be CSO's by the Council.
Council has a participating interest in the Northern SEQ Distributor-Retailer Authority (trading as Unitywater) governed by a
The following activity statements are for activities subject to the competitive code of conduct: Participation Agreement.
§Total§
Transactions with Unitywater
Waste The amount of revenue and expenditure include in the Statement of Comprehensive Income, and the amount receivable or
$ '000 Management Holiday Parks payable to Unitywater are as follows:
Revenue for services provided to the Council 738 – $ '000 Notes 2025 2024
Revenue for services provided to external clients 25,092 4,622 Revenue
Interest on Loans 4(a) 2,382 2,220
Community service obligations 145 –
Taxation Equivalents 4(b) 1,611 1,400
25,975 4,622 Dividends 13(d) 1,954 2,326
Less: Operational Expenditure (21,176) (3,741)
Amounts Receivable / (Payable)
Less: Movement in Landfill Restoration Provision 5,929 – Interest 596 555
Surplus/(deficit) 10,728 881 Dividends 932 1,335
Taxation Equivalents 155 (137)
Utility Charges (154) -
Description of CSO's provided to business activities: Other payables (3) -
§Total§
Loans
Net Cost Loans 11 49,218 49,218
Activities CSO description $´000
Unitywater operates under an income tax equivalent regime; with all tax paid being distributed to the participating Councils
Waste Management Waste collection and disposal charges for on a pro-rata basis to their participation rights.
charitable organisations. 145
Dividends received by Council from Unitywater are recorded as a reduction in the carrying value of the non-current asset.
Shareholder loans provide for a fixed interest rate with quarterly interest only payments. Further detail regarding Unitywater
is contained in Note 13 Equity Investments.
(c) Joint ventures
§Subnote§
Council has no interest in any joint ventures.
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