Annual Report 2022-23(PDF, 12MB)

      Note 3. Revenue                                                                                                                      Note 3. Revenue (continued)
      §Subnote§




      $ '000                                                                                                  2023                2022
                                                                                                                                           (c) Sales Revenue
      (a) Rates, Levies and Charges
                                                                                                                                           Sale of goods revenue is recognised at the point in time when the customer obtains control of the goods. Revenue from
      Rates and annual charges are recognised as revenue when the Council obtains control over the assets comprising these                 services is recognised when the service is rendered.
      receipts which is the beginning of the rating period to which they relate. Prepaid rates are recognised as a financial liability
      until the beginning of the rating period.                                                                                            Revenue from contracts and recoverable works generally comprises a recoupment of material costs together with an hourly
                                                                                                                                           charge for use of equipment and employees. This revenue and the associated costs are recognised by reference to the stage
           General Rates                                                                                     66,495              59,540    of completion of the contract activity, based on costs incurred at the reporting date. Where consideration is received for the
           Separate Rates                                                                                                                  service in advance it is included in other liabilities and is recognised as revenue in the period when the service is performed.
                                                                                                              3,737               3,669
           Special Rates                                                                                      2,080               1,350
                                                                                                                                           $ '000                                                                                                2023                2022
           Waste Utility Charges                                                                             14,621              13,468
           Total Rates and Utility Charge Revenue                                                            86,933              78,027    Rendering of Services
           Less: Discounts                                                                                  (2,793)             (2,592)    Contract and Recoverable Works                                                                          51                   8
           Less: Pensioner Remissions                                                                         (869)               (855)    Waste Management Charges                                                                             4,551               4,251
           Total Rates, Levies and Charges                                                                                                 Venue Hire                                                                                             451                 391
                                                                                                            83,271              74,580
                                                                                                                                           Holiday Parks Fees and Charges                                                                       4,365               3,777
                                                                                                                                           Learn to Swim                                                                                          733                 706
                                                                                                                                           Admission Fees                                                                                       1,560               1,408
           (b) Fees and Charges                                                                                                            Total Sale of Services                                                                              11,711              10,541
      Revenue arising from fees and charges are recognised at the point in time when the performance obligation is completed and           Sale of Goods
      the customer receives the benefit of the services being provided.                                                                    Sale of Recyclables                                                                                  1,415               1,732




                                                                                                                                                                                                                                                                              Noosa Council Annual Report 2022 - 2023
                                                                                                                                           Retail Shop Sales                                                                                      846                 697
      The performance obligation relates to the specific services which are provided to the customers and generally the payment
      terms are within 30 days of the provision of the service or in some cases, the customer is required to pay on arrival, for example   Total Sale of Goods                                                                                  2,261               2,429
      caravan parks. There is no material obligation for Council in relation to refunds or returns.
                                                                                                                                           Total Sales Revenue                                                                                13,972              12,970
      Licences granted by Council are all either short-term or low value and all revenue from licences is recognised at the time that
      the licence is granted rather than the term of the licence.

      Revenue from infringements is recognised on issue of infringement notice after applying the expected credit loss model relating
                                                                                                                                           (d) Grants, Subsidies, Contributions and Donations
      to impairment of receivables for initial recognition of statutory receivables.
                                                                                                                                           Grant Income under AASB 15
                                                                                                                                           Where grant income arises from an agreement which is enforceable and contains sufficiently specific performance obligations
           $ '000                                                                                              2023                2022    then the revenue is recognised when control of each performance obligation is satisfied.

           Building and Development Rees                                                                      3,993               4,518    The performance obligations vary in each agreement but include respite and care service hours completed; events, workshops
           Permits and Licences                                                                               1,130               1,125    and exhibitions held; and programs developed and completed.
           Fines and Penalties                                                                                  196                 289
           Registration Fees                                                                                    460                 452    Payment terms vary depending on the terms of the grant. Cash is received upfront for some grants and on the achievement
                                                                                                                                           of certain payment milestones for others.
           Parking Penalties                                                                                  1,236               1,118
           User Fees and Charges                                                                                706                 842    Each performance obligation is considered to ensure that the revenue recognition reflects the transfer of control and within
           Other Statutory Fees                                                                                 500                 635    grant agreements there may be some performance obligation where control transfers at a point in time and others which have
           Total Fees and Charges                                                                            8,221               8,979     continuous transfer control over the life of the contract.

                                                                                                                                           Where control is transferred over time, generally the input methods being either costs or time incurred are deemed to be the
                                                                                                                                           most appropriate methods to reflect the transfer of benefit.

                                                                                                                                           Grant Income under AASB 1058
                                                                                                                                           Assets arising from grants in the scope of AASB 1058 are recognised at the asset's fair value when the asset is received.
                                                                                                                                           Council considers whether there are any related liability or equity items associated with the asset which are recognised in
                                                                                                                                           accordance with the relevant accounting standard.

                                                                                                                                           Once the assets and liabilities have been recognised, then income is recognised for any remaining asset value at the time
                                                                                                                                           that the asset is received.




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