2022-10-24 General Committee Meeting- Item 7 - Attachment 1 - Noosa Oyster Ecosystem Restoration Project - Final Report (1)

Finances
Grant payment schedule

TNC paid for the delivery of project activities and then requested payments from NC, once deliverables were achieved in
accordance with the section 8.6 of the Agreement. The payment schedule and status are summarized below (Table 8).

Table 8: Payment schedule and status*

 Payment        Deliverables                                        Amount         Status
 1              On Agreement execution                              179,237        Paid to TNC by NC
                                                                                   Date received: 18/9/21

 2              On achievement of deliverables:                     200,000        Paid to TNC by NC
                1,2,3,4,5,8                                                        Date received: 24/8/22

 3              On achievement of deliverables:                     492,962        Outstanding - Not yet paid to TNC by NC
                6,7,8,9,10,11,12,14,20                                             Invoice to be submitted on acceptance of final
                                                                                   report

 4              On achievement of deliverables:                     328,400        Outstanding - Not yet paid to TNC by NC
                7,8,9,10,11,15,16,17,19                                            Invoice to be submitted on acceptance of final
                                                                                   report

* All amounts are exclusive of GST
** See Table 2, page 11 for details of deliverables and achievement against deliverables
*** Refer to payment schedule, Section 8.6 Alliance and Funding Agreement

Expenditure against activity codes

Expenditure is detailed in Table 9.

Table 9: Total project expenditure*

                                                           Total            FY20           FY21        FY22 to Sept    Total
                 Project Activities                        Budget        Expenditure    Expenditure       2022         Expenditure
                                                                                                       Expenditure
 Reef Building
                                                             861,982          100,915       256,678         834,886        1,192,479
 Bathymetric, hydrological assessments, oyster bed
 engineering, rock and shell material procurement,
 construction, and engineering assessments.

 Hatchery and seeding
                                                             293,332           29,575       104,913           64,326         198,814
 Procurement       of     oysters,    hatchery/farmer
 engagement, shell transport, recycled shells
 collection, permitting, record keeping and reporting.


 Reef   integrity           and       performance
 assessment                                                  580,289           24,325       140,001         105,459          269,785

 Pre-substrate deployment site assessments (bottom
 ecology, surface profiles, oyster densities, vulnerable
 habitats mapping (e.g. seagrass), river uses analysis
 (e.g. boating, fishing), data analysis, WHS and safety
 plans, operational equipment, periodic reports.

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