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ATTACHMENT 1
General Committee Meeting -
12 December 2016 - Item 9
Noosa Biosphere Reserve Foundation Limited
(“NBRF” / “The Foundation”)
Quarterly Report to Council
Quarter ended 30 September 2016
(Q1 FY 2017)
CONTENTS Page
1. Chairman’s Introduction 1
2. Mission Statement 2
3. Key Performance Indicators (KPI’s) 3
4. Programs 3
4.1. Current Programs 3
4.2. Emerging Programs 10
5. Funding 12
6. UNESCO 13
7. Governance 13
8. Conclusion 14
Attachments –
1. Audited Financial Statements for year ended 30 June 2016.
2. Provisional Operations Budget FY 2017
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Section 2
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
1. Chairman’s Introduction
I am pleased to present to the Noosa Council and the community the NBRF Directors’
Report for the three months ended 30 September 2016 and for the year ended 30 June
2016. The NBRF was established in February 2015 and commenced operations in July of
that year. While quarterly reports have previously been provided, this is the first all –
encompassing financial and descriptive account of our activities during 2015/2016– as
such, it is a notable Foundation milestone.
Noosa has a 50-year history as a leader in environmental conservation, and the community
continues to be the driver for the Noosa Biosphere Reserve’s evolution. The Foundation
facilitates this process by providing supporting funds for significant programs. At present,
five projects are being supported, the result of the Foundation’s first call for ‘big ideas’ from
the community. The Foundation has committed approximately $600,000 to these programs,
with an additional $1.4 million contributed in cash and in –kind by other private and public
institutions.
The Board is currently evaluating a number of emerging programs. We are aiming to
maintain the high ratio of private / public funding set in the first round, particularly as private
supporters come to understand the benefits of the Foundation’s status as an ATO-
registered Direct Gift Recipient.
This report also notes a community-initiative to encourage the academic chronicling,
assessment and understanding of Noosa’s path to achieving a balance between
biodiversity and sustainable living. This will be important in defining ‘Noosa’s soft footprint’,
potentially leading to Noosa’s recognition as a global leader in modern environmentally
sustainable living.
As we approach 2017, a decade further on since Noosa first became a participant in the
UNESCO Man and the Biosphere program, these considerations will be integral to our
“story” to be submitted with our application to continue in the UNESCO program.
The report also notes that the Foundation has recently entered the world of policy debate
and advocacy – registering its views on proposals contained in the State Government’s
Green Paper on Fisheries policy, and, in collaboration with the University of the Sunshine
Coast (USC), submitting responses to an expert panel convened by the State Government
Department of Environment seeking views on Koala conservation.
I congratulate the Noosa community on its continued far-sightedness in moving towards
environmentally sustainable living. It is an honour for me and my fellow directors to be
involved in these endeavours which we believe will continue to transform our community
and the way in which we live. We also wish to pay tribute to the many people and
supporting organisations who have been involved with the UNESCO program since its
inception. It is their building blocks which makes the Foundation what it is today – we hope
to build on their success.
I am pleased to present the following report of NBRF activities.
Campbell Corfe
Chairman
1
Section 3
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
2. Mission Statement
The NBRF Mission is to:
Support projects and ideas that enhance biodiversity
conservation and promote sustainable living in Noosa
Please visit our website at www.noosabiosphere.org.au
It is the NBRF Vision that overtime the Noosa community will achieve national and
international recognition for its relationship with its environment by
- Preserving and enhancing biodiversity
- Encouraging and supporting sustainable living; and
- Increasing understanding of the Noosa Biosphere Reserve through communication
and education.
The Foundation has identified specific objectives to achieve these goals and aligned the
community projects it is supporting with these objectives. This alignment is expressed in an
evaluation hierarchy which we have termed Striking the Balance. These aims and
objectives will be continuously reviewed by the Foundation as circumstances evolve.
3.
2
Section 4
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
Key Performance Indicators
The Foundation will track and report on the following indicators – it is acknowledged that
this area of work remains as somewhat of a work in progress.
Reference
Measure of Status
Activity Section
Success Below
PROGRAMS Prosper >5 and <8
strategic programs 4
FUNDING Noosa Council
Applications plus DGR 5
Trust Funding
UNESCO 2017 Renewal 6
GOVERNANCE Compliance with 7
required regulations;
Maintain transparency
of operations.
Status:
Red – needs urgent review
Amber – needs monitoring
Green – meeting expectations
4. Programs
4.1. Current Core Projects
The Foundation has agreed to support five projects to date, two of which have now been
funded in full; and three have ongoing funding commitments. The total value of these
projects exceeds $2m, to which the NBRF has committed approximately $600,000 from the
funds allocated to it by the Noosa Council.
The balance of $1.4m has been contributed from private sources, the majority going to the
exemplary Bring Back the Fish program with significant contributions from the Noosa Parks
Association, the Thomas Foundation, the Sunshine Coast University and the University of
Queensland.
It is important to note that in this first project funding round, for every $1 of community funds
invested in these projects, a further $3 was contributed from private sources. This
private/public funding ratio is a standard the foundation would like maintained in the future.
It’s a challenging ambition and we will be encouraging community associations to explore
all available private funding opportunities prior to seeking NBRF funding support in the
future.
3
QUARTERLY REPORT TO COUNCIL — Q1 FY 2017
Key Performance Indicators
The Foundation will track and report on the following indicators — it is acknowledged that
this area of work remains as somewhat of a work in progress.
. f Reference
Activity Meee Status Section
Success e0@e Below
PROGRAMS Prosper >5 and <8 4
strategic programs
FUNDING Noosa Council
Applications plus DGR 5
Trust Funding
GOVERNANCE Compliance with 7
required regulations;
Maintain transparency
of operations.
Status:
@ Red — needs urgent review
@ Amber — needs monitoring
@ Green — meeting expectations
4. Programs
4.1. Current Core Projects
The Foundation has agreed to support five projects to date, two of which have now been
funded in full; and three have ongoing funding commitments. The total value of these
projects exceeds $2m, to which the NBRF has committed approximately $600,000 from the
funds allocated to it by the Noosa Council.
The balance of $1.4m has been contributed from private sources, the majority going to the
exemplary Bring Back the Fish program with significant contributions from the Noosa Parks
Association, the Thomas Foundation, the Sunshine Coast University and the University of
Queensland.
It is important to note that in this first project funding round, for every $1 of community funds
invested in these projects, a further $3 was contributed from private sources. This
private/public funding ratio is a standard the foundation would like maintained in the future.
It's a challenging ambition and we will be encouraging community associations to explore
all available private funding opportunities prior to seeking NBRF funding support in the
future.
3Section 5
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
We have KPI and reporting protocols applied to each project; our FY 2017 plan calls for
some resource allocation to improve project management.
An overview of each project follows.
4.1.1 UNDERSTAND OUR BIOSPHERE
Engaging the Noosa Community to better understand our Biosphere Reserve and its
biodiversity.
This is a community engagement and educational program initiated by the Noosa
Community Biosphere Association (NCBA). The program includes a video and support
material being used to engage and inform community organisations of the UNESCO MAB
program and its implications for Noosa.
Using this material, and by other direct means, links are being established with other
organisations including NPA, NICA, Landcare, Country Noosa, Tourism Noosa and many
others. We believe that more needs to be done in this area of public engagement; the
NBRF will continue to work with and encourage NCBA’s initiatives in this regard.
The Foundation will also allocate some resources in FY 2017 to enhanced community
engagement activities.
NBRF Commitment - $20,000
Total Project Value - $39,000
Lead Organisation - NCBA - Noosa Community Biosphere Association
KPI Status - Amber – needs monitoring
4
Section 6
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
4.1.2. BOTANICAL FIELD GUIDE
Publish and market a botanical field guide.
The purpose of this project was to create a credible educational resource that promotes the
Noosa Biosphere Reserve as a place that values its environment.
The project aims to better inform botany practitioners, create responsible human behavior
and vegetation management through enhanced knowledge and awareness, improve
wetland and riparian zone health and improve habitat in Noosa River catchment.
We worked on this with the Noosa Integrated Catchment Association (NICA) who has the
guide almost ready for distribution.
NBRF Commitment - $13,580
Other Commitments - $40,000
Total Value - $53,580
Lead Partner - NICA
KPI Status - Green – meeting expectations
5
Section 7
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
4.1.3. KOALA HEALTH
Mapping koala health across the Noosa Biosphere Reserve to inform better
management.
Koalas - our icon animal and major tourism attraction – are very vulnerable in our Shire.
To ensure the protection of koalas for generations to come, it is imperative that we
accurately and efficiently expand our evidence based knowledge about koala distribution,
genetics and disease to population outside the urban footprint.
So our desired outcome here is to have one GIS (geographical information system)
database collating all koala information available; hopefully we can extend this project over
time so that we have a longitudinal view of different koala populations.
The NBRF is working closely with the USC to utilise innovative, non-invasive methodologies
in the form of conservation detection dogs, to produce the first field based fine-scale
distribution and population health study of koalas across the Noosa Biosphere Reserve.
We will be able to identify where koala populations are; how connected they are; and how
healthy they are.
The project will identify areas of high potential for habitat rehabilitation, offsets, protection
(e.g. refuges, reserves, voluntary conservation agreements) and land to buy for increase
koala core habitat.
The sniffer dogs will be in the Shire over coming months, firstly to identify where
populations are – and where they are not – and then to collect scat samples for evaluation.
We are keeping Council and other groups (like the Makepeace Island Conservancy) in the
loop; we have recently tendered a joint response to a Survey request from State
6
Section 8
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
Government whereby we hope to inform legislation.
NBRF Commitment - $59,472
Other Commitments - $200,000
Total Value - $259,472
Lead Partner - USC
KPI Status - Green – meeting expectations
4.1.4. KEEPING IT IN KIN KIN
A Noosa catchment priority erosion remediation program.
The catchment component of the Bring Back the Fish (see 4.1.5 below) project is known as
‘Keeping it in Kin Kin”. It recognises that keeping land and waterways productive and
healthy is necessary for food production, employment, social wellbeing and environmental
preservation. It also recognises that land practices and management are critical for soil,
water and vegetation systems, not just in Kin Kin, but also downstream to Noosa.
This particular project is a good example of our quest for a long term, holistic approach to
sustainable living. It employs sophisticated survey techniques, using Light Detection and
Ranging (LiDAR) equipment, to identify areas most in need of better management through
initiatives such as tree planting, fencing and weed eradication.
The project was developed in collaboration with NPA and is being run by Noosa and District
Landcare with peer review of both the technical methodology being employed and the on-
ground prioritisation and implementation of remedial processes. We are maintaining close
oversight of these aspects to ensure the best possible outcomes for all stakeholders. With
LIDAR results currently being evaluated and peer reviewed; Country Noosa and the Kin Kin
Community Group has run several sessions with Landowners to develop a collaborative
7
Section 9
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
approach to remedial actions; there is also a community round table planned to discuss
issues pertinent to training.
NBRF Commitment - $74,212
Other Commitments - $125,780
Total Value - $200,00
Lead Partner – NDLC
KPI Status - Green – meeting expectations
4.1.5. BRING BACK THE FISH
Restoring fish abundance.
The Noosa River and Lakes system and Laguna Bay was once a ‘phenomenally rich”
marine system, according to Dr. Ruth Thurstan, who undertook a study to determine the
‘base line’ of diversity, prevalence and size of species in the system. In the past
recreational and commercial fishing flourished with many extraordinary catches reported.
(www.noosa.qld.gov.au, media release 23 Nov 2015)
The Thurstan study also found that the oyster industry collapsed 80 years ago after up to
3m oysters a year were taken from the river and lakes. Oyster reefs are an important part of
a healthy aquatic ecosystem, providing habitat and a rich source of food for fish and other
marine life. Their disappearance adversely impacted the system.
Prawns too were once abundant. The Thurstan study found that some 400,000kg of prawns
were dredged from the system in 1961. By 1969 the reported catch had halved, and in 2014
it was just 35,00kgs. Prawns are also an important part of a healthy aquatic system; but
their current abundance is not known and The University of Queensland is initiating a study
to determine both numbers and the cause of this apparent dramatic decline.
8
Section 10
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
The fishery is a public asset, and the community wants its benefits optimised and shared
now and with future generations. The “Bring Back the Fish” projects aims to progressively
restore the system, and develop the resilience of its re-established marine species.
The program has three components:
- Re-establishing oyster reefs and associated aquatic communities in the Noosa
Estuary and River up to Tewantin
- Restoring prawn stocks in the Noosa River and Lakes; and
- Modifying and improving land use practices in the Kin Kin catchment to reduce
sediment runoff into the River and lakes system
This is a long-term project with a major initial funding commitment by the NBRF. To protect
both the community and private investments we will be closely monitoring progress to
ensure projected performance targets are achieved.
A key long term objective is to balance the rehabilitated marine biodiversity with sustainable
recreational and commercial fishing.
The project’s genesis lies with the Noosa Parks Association (NPA) which in 2014, together
with The Thomas Foundation (TTF), arranged for The Nature Conservancy (TNC) to
convene a scientific workshop to consider the possibility and means of enhancing Noosa’s
river and lakes system. TNC, established in the USA in the 1950s, is the world’s premier
science-based conservation organisation. Encouraged by TTF, it has established an
Australian chapter, which at The Thomas Foundation’s initiative has commenced the Great
Southern Seascapes program. This program is focussed on bays and estuaries in southern
and western Australia and involves the re-establishment of oyster reefs and seagrass beds
as a first step in the rehabilitation of marine eco-systems.
The program is based on similar projects TNC has managed in the USA and which have
attracted enthusiastic support from associated communities and recreational fishers.
Recreational fishers in Melbourne are enthusiastic supporters of the Port Phillip reef
restoration. Noosa’s Bring Back the Fish has grown out of this broader program.
Permits for the re-establishment of the oyster reefs, generally on sites where they existed in
the past, are being sought. The NBRF is grateful for the assistance being provided in this
regard by the Noosa Council. In addition to the NPA and TTF, key private supporters of the
Bring Back the Fish program are the University of Queensland, the University of the
Sunshine Coast and Ecological Services Professionals.
NBRF Commitment - $441,304
Other Commitments - $1,032,251
Total Value - $1,473,555
KPI Status - Amber – needs monitoring (in relation to the current
application for permits)
9
Section 11
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
4.2 Emerging Programs – being built into FY 2017 Plans
Funding currently to hand for consideration in FY 2017:
Net Grant surplus available (after ongoing commitments)
80,000
as at 1 July 2016
FY 2017 Grant Funding received Q1 2016 250,000
$320,000
Funding currently available
Long Term Community Engagement
NBRF Directors are aware that for success and longevity the activities it supports need to
be in the community and be community driven. Experience has shown that driving projects
with a ‘top-down’ approach tends to have a higher casualty rate. Recognising the
community’s history and achievements in driving its conservation objectives, we see the
Foundation as primarily a funding facilitator and we will align our objectives with community
aspirations.
Advocacy
We also see the NBRF as having an advocacy role on behalf of the community and
community associations.
In this ‘advocacy role’ we responded to the State Government’s Green Paper on fisheries
management reform outlining the objectives we believe the community would seek to
achieve through reform, including:
- Encouraging indigenous engagement;
- Restoring and securing Fish abundance in the Noosa River and lakes;
- improving viability for commercial fishers in the river and lakes system and in Laguna
Bay;
- establishing the right conditions for higher catch rates for recreational fishers; and
- engendering community pride in its rehabilitated river and lakes system.
Population Pressures
We are conscious too of the pressures that will develop on the natural environment from
projected population increases in the SE Queensland region. Careful management will be
essential if repeat over-exploitation of the rehabilitated river and lakes system is to be
avoided.
Sanctuaries and Corridors
These population increases will also have implications for terrestrial wildlife biodiversity in
the Noosa Biosphere Reserve, and the Foundation is considering initiatives generated in
10
Section 12
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
the community that could be pursued to develop appropriate sanctuaries and corridors to
optimise wildlife protection.
These challenges to Noosa’s ‘special’ environmental attributes are significant and demand
careful and inventive responses.
Hinterland Management Plan
Country Noosa is developing an integrated land management plan for the hinterland that
will embrace an holistic approach to farming production, carbon sequestration and
environmental restoration and protection.
ZEN
The NBRF is supportive of the ZEN initiative, kick-started by the Council and now
enthusiastically embraced by the community. The life-style changes to which the concept
aspires are complex and several NBRF Directors are deeply engaged in development of
the initiative, particularly in the challenges of the electricity sector. It is apparent some
aspects will need funding support to bring them to a better state of understanding and
resolution, and the NBRF is looking to where its resources might best be directed to help in
this process.
Koala
It is anticipated that we will be able to extend the life of the current Koala program as we
develop a greater understanding of our Koala population, health and distribution.
Global Change Institute (GCI)
The Noosa community over 50 years has pursued achievement of a wise balance between
biodiversity conservation and sustainable living. The Noosa Parks Association, the oldest of
Noosa’s community environmental associations, has proposed independent academic
validation of this history and achievements, and the further initiatives now being pursued.
The NBRF supports this proposal which we regard as fundamental to the development and
legitimisation of a ‘Noosa soft footprint” brand. A preliminary plan to achieve this through
collaboration with the University of Queensland’s prestigious Global Change Institute is
being developed. The material produced will be useful to others wishing to replicate
Noosa’s achievements, and in satisfying some of the information and educational
expectations associated with UNESCO’s Man and Biosphere program.
Science Symposium
The Nature Conservancy has agreed to undertake its annual review of the Great South
Seascapes Australian program in Noosa in early 2017. The review involves Australian and
American marine scientists.
The opportunity will be taken for a high-level science symposium to evaluate all three
elements of the Bring Back the Fish program to be conducted in association with the GSS
review. The Australian team implementing the GSS and the Australian and American
experts working in the same field here and in the USA will be engaged in this validation
process.
11
Section 13
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
5. Funding
Management Accounts
Year ended 30 June 2016
DRAFT
$ $ $ $
Noosa Council Grants received
Re Sustainability 80,000
Re Environment
First transfer 250,000
Multi year 360,000
610,000 690,000
Less Program Disbursements
NICA Sedge 13,518
NCBA Awareness 20,000
USC Koala Mapping 59,472
NDLC Keep it in Kin Kin 48,290
(141,280)
Surplus from grant funding 548,720 Note 1
Operations
Start up funding 40,000
Contribution 2016 140,000
180,000
Less
Cash operating expenses
Accounting 690
Bank Fees and Charges 72
Meeting expenses 830
Computer 2200
Donations 260
Insurances 4800
Office Support 2600
Postage 250
Printing and Stationery 840
Repairs & Maintenance 300
Subscriptions/ Filings 1200
Telephone 1400
Web Site 7200
Legals 430
Wages - Executive Officer 47,875
Consultants 3500
74447
Surplus from Operations 105,553 Note 2
Total 654,273 Note 3
Less Commitments 470,000 Note 1
Reserves available carry forward $184,273
12
Section 14
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
Note 1: Surplus from Grant Funding
As at June 30 2016, further commitments of approximately $470,000 had been made by the
Foundation to be paid over a number of years to various institutions for execution of our
programs. In essence, the $80,000 sustainability grant has not been committed.
Note 2: Surplus from Operations – approximately $100,000.
The Foundation commenced operations July 2015; on ground activities in connection with
programs were delayed through a variety of reasons until early Q3 FY 2016. The appointed
Executive Officer did not resume duties in Quarters 3 and 4; accordingly, operations were
well below forecast.
Note 3: Total Surplus 30 June 2016
Surplus shown in these statements of approximately $654,000 is comparable to cash
balances 30 June 2016 of approximately $660,000.
Note 4: Accounting for Grant Funding
Financial statements presented to the auditor recognise grants as revenue only when funds
are dispersed to recipient programs.
6. UNESCO
Next year will be our 10th anniversary since enrolling in the UNESCO MaB (Man and
Biosphere) Program. We will develop a plan to re-engage with UNESCO for a reapplication
next year.
Board member David Dique has volunteered some time to be applied to this endeavour.
Professor Karin Hussey at the GCI is well connected with UNESCO personnel and has
agreed to assist.
It is generally seen we should leverage this connection more appropriately.
7. Governance
The Board held a General Meeting on July 15 and confirmed new Board membership as:
• David Dique
• Dick Barnes
• Michael Gloster
Adding to appointments in the prior period:
• Campbell Corfe
• Clare Cartwright
• Tony Wellington
It is expected that Mr. Rowland Hill will agree to a continuing role with the Board and this
will be confirmed at the AGM to be held December 2016.
13
Section 15
QUARTERLY REPORT TO COUNCIL – Q1 FY 2017
We are currently reviewing further appointments.
The Board will also consider in the New Year whether an independent review of certain
aspects of our Constitution may be appropriate; including Board appointments.
The Board approved a Charter which incorporates most aspects of our Governance regime;
we will use that as a basis for an overview of our policies and procedures to ensure they
are still relevant and that we are compliant. This would include, for example, policies on
Conflicts of Interest, Work Place Health and Safety, etc.
The position of Executive Officer established in July 2015 is still under review. Contracted
administrative assistance is appropriate for our current circumstances.
8. Conclusion
The NBRF board is grateful for the ongoing support of the Noosa Council – we appreciate
that your support for our activities places us in a unique position of demonstrative success
in terms of Biosphere Reserves globally.
We would welcome the opportunity to present to Council should your schedule permit.
On behalf of
The Noosa Biosphere Reserve Foundation Limited
Chairman
………..……………..
C. Corfe
November 24 2016
14
Section 16
Attachment 1
Noosa Biosphere Reserve Trust
ABN 12 733 644 586
Financial Statements
For the year ended 30 June 2016
Otto & Partners Pty Ltd
Chartered Accountants
PO Box 2167
Noosa Heads Qld 4567
Phone: 54473939 Fax: 54474848
Section 17
Noosa Biosphere Reserve Trust
ABN 12 733 644 586
Contents
Statement of Profit or Loss and Other Comprehensive Income
Statement of Financial Position
Statement of Cash Flows
Notes to the Financial Statements
Responsible Persons' Declaration
Independent Auditor's Report
Detailed Statement of Financial Performance
Section 18
Noosa Biosphere Reserve Trust
ABN 12 733 644 586
Statement of Profit or Loss and Other Comprehensive Income
For the year ended 30 June 2016
2016 2015
$ $
Grants 316,890.18
Interest 2,514.24
Other income 20.00
Total revenue 319,404.42 20.00
Grants provided (136,890.18)
Employee benefit expense (36,637.00)
Depreciation (1,119.00)
Other expenses (31,649.26) (0.70)
Finance costs (176.58)
Profit before income tax 112,932.40 (0.70)
Income tax (credit) expense
Profit for the year 112,932.40 19.30
Total other comprehensive income for the
Total comprehensive income for the year 112,932.40 19.30
The accompanying notes form part of these financial statements.
Section 19
Noosa Biosphere Reserve Trust
ABN 12 733 644 586
Statement of Financial Position as at 30 June 2016
2016 2015
$ $
Assets
Current Assets
Cash assets 661,330.84 29.30
GST receivable 4,896.02
Prepayments 794.11
Total Current Assets 667,020.97 29.30
Non-Current Assets
Property, plant and equipment 4,126.27
Total Non-Current Assets 4,126.27
Total Assets 671,147.24 29.30
Liabilities
Current Liabilities
Payables 3,520.19
Employee entitlements 1,555.53
Grants on hand 553,109.82
Total Current Liabilities 558,185.54
Total Liabilities 558,185.54
Net Assets 112,961.70 29.30
Equity
Contribution by settlor 10.00 10.00
Retained earnings 112,951.70 19.30
Total Equity 112,961.70 29.30
The accompanying notes form part of these financial statements.
Section 20
Noosa Biosphere Reserve Trust
ABN 12 733 644 586
Statement of Cash Flows
For the year ended 30 June 2016
2016 2015
$ $
Cash Flow From Operating Activities
Other receipts 20.00
Grants received 924,000.00
Payments to Suppliers and employees (214,517.28) (0.70)
Interest received 2,514.24
Interest and other costs of finance (176.58)
Net GST remitted to ATO (45,273.57)
Net cash provided by (used in) operating
activities (below) 666,546.81 19.30
Cash Flow From Investing Activities
Purchase of plant and equipment (5,245.27)
Net cash used by investing activities (5,245.27)
Cash Flow From Financing Activities
Proceeds of contributions by settlor 10.00
Net cash provided by (used in) financing
activities 10.00
Net increase (decrease) in cash held 661,301.54 29.30
Cash at the beginning of the year 29.30
Cash at the end of the year 661,330.84 29.30
Reconciliation Of Net Cash Provided By/Used In Operating Activities To Net Profit
(Loss)
Net profit (loss) 112,932.40 19.30
Depreciation 1,119.00
Changes in assets and liabilities net of effects of
purchases and disposals of controlled entities:
(Increase) decrease in trade and other
receivables (4,896.02)
(Increase) decrease in prepayments (794.11)
Increase (decrease) in trade creditors and
accruals 3,520.19
Increase (decrease) in employee entitlements 1,555.53
Increase (decrease) in grants on hand 553,109.82
Net cash provided by operating activities 666,546.81 19.30
The accompanying notes form part of these financial statements.
Section 21
Noosa Biosphere Reserve Trust
ABN 12 733 644 586
Notes to the Financial Statements
For the year ended 30 June 2016
______________________________________________________________________________
(a) Basis of Preparation
The directors of the trustee company have prepared the financial statements of the trust on the
basis that the trust is a non-reporting entity because there are no users dependant on general
purpose financial statements. The financial statements are therefore special purpose financial
statements that have been prepared in order to meet the requirements of the trust deed, the
information needs of the stakeholders and the Australian Charities and Not-for-Profits Commissions
Act 2012.
The Noosa Biosphere Reserve Trust is a not for profit entity committed to supporting projects and
ideas that enhance biodiversity conservation and promote sustainable living in the Noosa region.
(b) Statement of Compliance
This special purpose financial report complies with the recognition and measurement requirements
of Australian Accounting Standards as issued by the Australian Accounting Standards Board. The
disclosure requirements of Australian Accounting Standards and other financial reporting
requirements in Australia do not have mandatory applicability to the Trust because it is not a
‘reporting entity’.
The financial report does not include the disclosure requirements of all Australian Accounting
Standards except for the following minimum requirements:
• AASB 101, Presentation of Financial Statements
• AASB 107, Statement of Cash Flows
• AASB 108, Accounting Policies, Changes in Accounting Estimates and Errors
• AASB 1031, Materiality
• AASB 1048, Interpretation of Standards
• AASB 1054, Australian Additional Disclosures.
The financial report has been prepared on an accruals basis and is based on historical costs.
Amounts are presented in Australian Dollars.
The accounting policies used in the preparation of this report, as described below are, in the opinion
of the Directors, appropriate to meet the needs of members.
(c) Significant Accounting Policies
The financial statements have been prepared on an accruals basis and are based on historical
costs unless otherwise stated in the notes. The accounting policies that have been adopted in
the preparation of the statements are as follows:
I. Property, Plant and Equipment (PPE)
Property, Plant and Equipment are carried at cost and are depreciated over the useful lives of
the assets to the trust.
Section 22
Noosa Biosphere Reserve Trust
ABN 12 733 644 586
Notes to the Financial Statements
For the year ended 30 June 2016
______________________________________________________________________________
The carrying amount of plant and equipment is reviewed annually by directors to ensure it
is not in excess of the recoverable amount from these assets. The recoverable amount is
assessed on the basis of the expected net cash flows that will be received from the asset’s
employment and subsequent disposal. The expected net cash flows have not been
discounted in determining recoverable amounts.
II. Cash and Cash Equivalents
Cash and cash equivalents include cash on hand, deposits held at call with banks, other
short-term highly liquid investments with original maturities of three months or less, and
bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities on the
balance sheet.
III. Revenue and Other Income
Revenue is measured at the fair value of the consideration received or receivable.
Interest revenue is recognised using the effective interest rate method.
Grants received are recognised as revenue when the grant funding conditions are met. For grants
received from the Noosa Shire Council grants are recognised as revenue only when an expense
allowable under the funding deed is incurred.
All revenue is stated net of the amount of goods and services tax (GST).
IV. Goods and Services Tax (GST)
Revenues, expenses and assets are recognised net of the amount of GST, except where the
amount of GST incurred is not recoverable from the Tax Office. In these circumstances, the
GST is recognised as part of the cost of acquisition of the asset or as part of an item of the
expense. Receivables and payables in the balance sheet are shown inclusive of GST.
Cash flows in the statement of cash flows are included on a gross basis and the GST component of
cash flows arising from investing and financing activities which is recoverable from or payable to the
taxation authority is classified as operating cash flows.
V. Employee Benefits
Provision is made for the liability for employee entitlements arising from services
rendered by employees to balance date. Employee benefits have been measured at the
amounts expected to be paid when the liability is settled, plus related costs. Accrued employee
benefits are recorded in Provisions as a Current Liability in the Statement of Financial Position.
Section 23
Noosa Biosphere Reserve Trust
ABN 12 733 644 586
Notes to the Financial Statements
For the year ended 30 June 2016
______________________________________________________________________________
VI. Trade and Other Payables
Trade and other payables, including bank borrowings and distributions payable, are
recognised at the nominal transaction value without taking into account the time value of
money.
VII. Prepayments
Prepayments for goods and services which are to be provided in future years are recognised as
prepayments. Prepayments are recorded in Other as a Current Asset in the Statement of Financial
Position. Prepayments recorded on the Statement of Financial Position include a pre-paid computer
warranty, a pre-paid software subscription and pre-paid insurance expense.
VIII. Grants on Hand
Grants for environmental and sustainability purposes received from Noosa Council but for which
corresponding expenses have not yet been incurred are shown as current liabilities on the
Statement of Financial Position under Grants on Hand. Grants on Hand will be recognised as revenue
as the grant funding conditions are met.
Operational grants received from Noosa Council are recognised as income when the payment is
received from the council. These grants are provided to fund future operational funding expenses.
Section 24
Noosa Biosphere Reserve Trust
ABN 12 733 644 586
Responsible Persons’ Declaration
______________________________________________________________________________
The directors of Noosa Biosphere Reserve Foundation Ltd being the trustees of the Noosa Biosphere
Reserve Trust declare that:
i. The financial statements and notes are in accordance with the Australian Charities and Not-
for-profits Commission Act 2012, including:
- Giving a true and fair view of its financial position as at 30 June 2016 and of its
performance for the financial year ended on that date; and
- Complying with Australian Accounting Standards (including the Australian Accounting
interpretations) to the extent stated in the notes to the financial statements and the
Australian Charities and Not-for-profits Commission Regulation 2013; and
ii. There are reasonable grounds to believe that the trust will be able to pay its debts as and
when they become due and payable.
The declaration is made in accordance with a resolution of the Board of Directors of the trustee company.
____________________________________
Campbell Corfe , (Director)
____________________________________
Clare Cartwright , (Director)
Date
Section 25
Noosa Biosphere Reserve Trust
ABN 12 733 644 586
Independent Audit Report to the members of Noosa Biosphere Reserve
Trust
Report on the Financial Report
We have audited the accompanying financial report, being a special purpose financial report of Noosa Biosphere Reserve
Trust, which comprises the statement of financial position as at 30 June 2016, the statement of profit or loss and other
comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, notes
comprising a summary of significant accounting policies and other explanatory information, and the responsible persons'
declaration.
Directors' Responsibility for the Financial Report
The directors of Noosa Biosphere Reserve Foundation Ltd, being the corporate trustee of the trust, are responsible for the
preparation of the financial report that gives a true and fair view and have determined that the basis of preparation described
in Note 1 to the financial report is appropriate to meet the requirements of the Australian Charities and Not-for-Profits
Commission Act 2012 (ACNC Act) and the needs of the members. The director's responsibility also includes such internal
control as the directors determine is necessary to enable the preparation of a financial report that gives a true and fair view
and is free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on the financial report based on our audit. We have conducted our audit in
accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements
relating to audit engagements and plan and perform the audit to obtain reasonable assurance about whether the financial
report is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report.
The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement
of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the trust’s preparation of the financial report that gives a true and fair view in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the trust’s
internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of
accounting estimates made by the director's, as well as evaluating the overall presentation of the financial report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Independence
In conducting our audit, we have complied with the independence requirements of the Accounting Professional and Ethical
Standards Board and the Australian Charities and Not-for-profits Commission Act 2012.
Opinion
In our opinion the financial report of Noosa Biosphere Reserve Trust has been prepared in accordance with Division 60 of
the Australian Charities and Not-for-profits Commission Act 2012, including:
(a) giving a true and fair view of the trust’s financial position as at 30 June 2016 and of its financial performance and cash
flows for the year ended on that date; and
(b) complying with Australian Accounting Standards to the extent described in the notes to the financial report, and Division
60 of the Australian Charities and Not-for-profits Commission Regulation 2013.
Section 26
Noosa Biosphere Reserve Trust ABN 12 733 644 586 Independent Audit Report to the members of Noosa Biosphere Reserve Trust Basis of Accounting Without modifying our opinion, we draw attention to Note ‘a’ to the financial report, which describes the basis of accounting. The financial report has been prepared for the purpose of fulfilling the directors’ financial reporting responsibilities under the ACNC Act and trust deed. As a result, the financial report may not be suitable for another purpose. SAAS Audit Pty Ltd James Kenward Director Suite 4, 118 Vulture Street South Brisbane QLD 4101 Dated
Section 27
Noosa Biosphere Reserve Trust
ABN 12 733 644 586
Detailed Statement of Financial Performance
For the year ended 30 June 2016
2016 2015
$ $
Income
Grants received NSC - environmental 136,890.18
Grants received NSC - operational 180,000.00
Contributions - other 20.00
Interest received 2,514.24
Total income 319,404.42 20.00
Expenses
Accountancy 150.00
Amortisation Expense 35.00
Bank Fees And Charges 71.99 0.70
Bookkeeping 522.50
Computing expenses 702.72
Consultants fees 14,000.94
Depreciation - plant 1,119.00
Donations 251.43
Grants provided - environmental 136,890.18
Fees & charges 157.55
Filing Fees 46.00
Fines 936.00
Insurance 3,481.00
Interest - ATO 176.58
Legal fees 430.00
Meeting expenses 767.66
Motor vehicle - allowance 79.20
Postage 220.41
Printing & stationery 1,400.94
Repairs & maintenance 270.91
Staff amenities 75.00
Superannuation 2,879.84
Telephone 1,285.12
Wages 33,757.16
Website expenses 6,500.00
Workcover insurance 264.89
Total expenses 206,472.02 0.70
Net Profit from Ordinary Activities before
income tax 112,932.40 19.30
Disclaimer
The additional financial data presented above is in accordance with the books and records of the Company which have
been subjected to the auditing procedures applied in our statutory audit of the trust for the year ended 30 June 2016. It will
be appreciated that our statutory audit did not cover all details of the additional financial data. Accordingly, we do not
express an opinion on such financial data and we give no warranty of accuracy or reliability in respect of the data provided.
Neither the firm nor any member or employee of the firm undertakes responsibility in any way whatsoever to any person
(other than Noosa Biosphere Reserve Trust) in respect of such data, including any errors of omissions therein however
caused.
SAAS Audit Pty Ltd
James Kenward
Director
Suite 4, 118 Vulture Street
South Brisbane QLD 4101
Dated:
Section 28
QUATERLY REPORT TO COUNCIL - Q1 FY 2017
Noosa Biosphere Reserve Foundation Limited Operations Budget FY 2017 Attachment 2
Reference
$ $ Note
Operations
Surplus carried forward from 30 June 2016 Approx. 100,000
Allocation Q1 received 35,000
Allocation Q2 35,000 1
Total funding for operations 170,000
Less Expenses
Audit 2,500
Bookkeeping ; accounting 2,000
Bank Fees 200
Consultants 18,500 2
Donations 2,000 3
Meeting Expenses 2,000
Insurance 4,600
Postage, Printing, Stationery 750
Filings 800
Telephone 1,400
Website 800
Legal 800
Wages - Admin 40,500 4
Marketing 9,000 5
Development Officer 50,000 6
Contingency 34,150
Total $170,000
Note 1: Operational Funding
Operational Support requested for FY 2017 was $ 140,000 – this budget assumes that that amount is not drawn
down in full for the time being.
Note 2: Consultants
Provides for a recently graduated PHD to join NBRF on a consultancy basis for 20 hours a week from November 2016
at $30 an hour (total approx.$ 15,600); responsibility to develop on the plan with GCI, together with the
management plan and submission to UNESCO.
Note 3: Donations
Provides for one off contributions to the Lake Mc Donald Mary River Cod hatchery ($1,200) and the Makepeace
Koala Conservancy ($750).
Note 4: Admin
NBRF currently has a temporary Admin Assistant providing administrative and web site support; the budget assumes
approx. 20 hours per week at $45 per hour for approximately 45 weeks.
Note 5: Marketing
Part time engagement of consultant to write press releases; gain more visibility of NBRF activities.
Note 6: Development Officer
NBRF intention is to retain services of an experienced professional officer with global connections to take up the role
circa Q2/3 2017. It is intended that this person will take the Foundation to the next level, including increased
advocacy and fund raising capacity.