2018-02-06 Planning & Environment Committee Agenda

PLANNING & ENVIRONMENT COMMITTEE MEETING AGENDA                                 6 FEBRUARY 2018


(unexpended grant) respectively. As funds are expended, they are recognised in the Profit &
Loss statement as income with a matching expense with a corresponding reduction in the
balance sheet. The annual operating funding is not treated in this way as no third party is
involved.
There is a minor error in the Financial Statements in that $34,091 of project expenditure was
mistakenly added to the operating fund which should be $70,000 as expected. The total for
project expenditure should be $168,554 plus $34,091 = $202,645 which is the correct figure
referred to in the narrative of the Board’s Annual Report. While this has been incorrectly treated
in the Financial Statement from an accounting perspective in terms of where it was allocated, it
makes no difference to the final figures. NBRF have been advised of this issue.
The notes to the financial statement indicate that changes to the Australian Accounting
Standards will result in changed requirements in relation to accounting for fair value of the right to
use the premises provided by Council at Doonella House. These changes will come into effect
from 30/6/2020.

Previous Council Consideration
Ordinary Meeting Minutes, 7 May 2015, Page 12, Item 4
That Council note the report by the Executive Officer to the Planning & Organisation Committee
Meeting dated 28 April 2015 and:
A.    Agree to the revisions made to the draft funding deed between Council and the Noosa
      Biosphere Foundation Ltd as detailed in Attachment 1 to the report; and
B.    Authorise the Chief Executive Officer to amend Clause 4 – Payments to provide for the
      project funding under Clauses 4.1 B ii) and iii) to be paid after 30 June 2015 and to finalise
      the arrangements.
Ordinary Meeting Minutes, 12 March 2015, Page 10, Item 3
That Council note the report by the Executive Officer to the Planning & Organisation Committee
Meeting dated 3 March 2015 and the further report to the General Committee Meeting dated 9
March 2015 and:
A.    Agree to enter into a funding deed with the Noosa Biosphere Reserve Foundation Ltd as
      provided in Attachment 1 to the report to Planning & Organisation Committee dated 3
      March 2015 with the following changes:
      1.    Clause 4.1 Payments
            Amend clause 4.1 b) ii) to read “$250,000 (excluding GST) – payable to the NBRF
            Public Trust from the Environment Levy for projects that conserve and/or improve
            biodiversity in the Noosa Shire and have tangible and measurable outcomes”.
            Amend clause 4.1 b) iii) to read “$80,000 (excluding GST) – payable to the NBRF
            Public Trust for economic projects consistent with the purposes of the Trust.
      2.    Clause 6.2 Repayment of Funding
      Amend as outlined in the further report to General Committee dated 9 March 2015.
B.    Authorise the Chief Executive Officer to make minor alterations to the Deed, as may be
      necessary, and enter into a formal agreement with the Foundation;
C.    Agree in principle to a one-off contribution of $10,000 being for the establishment and initial
      operating costs of a community based incorporated association that is aligned with the
      purposes of the Noosa Biosphere Reserve Trust, subject to no membership fees being
      charged until after the second annual general meeting;
D.    Apply the exception to the requirement for tendering under Section 236(1)(b)(ii) of the Local
      Government Regulation 2012 for the occupancy of part of Council owned premises located

                                                                                      Page 44 of 86