Annual Report 2022-23

      Note 30. National Competition Policy                                                                                                         Note 32. Transactions with Related Parties
      §Subnote§




      Business activities to which the code of competitive conduct is applied                                                                      (a) Subsidiaries (ie. entities and operations controlled by Council)
      Council applies the competitive code of conduct to the following activities:                                                                 Council has no interest in any Subsidiaries.

                    •      Waste Management
                    •      Holiday parks
                                                                                                                                                   (b) Associates
                                                                                                                                                   Council has a participating interest in the Northern SEQ Distributor-Retailer Authority (trading as Unitywater) governed by a
      This requires the application of full cost pricing, identifying the cost of community service obligations (CSO) and eliminating
                                                                                                                                                   Participation Agreement.
      the advantages and disadvantages of public ownership within that activity.
                                                                                                                                                   Transactions with Unitywater
      The CSO value is determined by Council, and represents an activities cost(s) which would not be incurred if the primary
                                                                                                                                                   The amount of revenue and expenditure include in the Statement of Comprehensive Income, and the amount receivable or
      objective of the activities was to make a profit. The Council provides funding from general revenue to the business activity to
                                                                                                                                                   payable to Unitywater are as follows:
      cover the cost of providing non-commercial community services or costs deemed to be CSO's by the Council.

      The following activity statements are for activities subject to the competitive code of conduct:                                             $ '000                                                                          Notes                  2023               2022
                                                                                                                                                   Revenue
                                                                                                                    Waste                          Interest on Loans                                                                4(a)                 1,973              2,018
           $ '000                                                                                              Management          Holiday Parks   Taxation Equivalents                                                             4(b)                 1,191              1,913
                                                                                                                                                   Dividends                                                                       13(d)                 2,780              1,717
           Revenue for services provided to the Council                                                                     365                –
           Revenue for services provided to external clients                                                             22,046            4,450   Amounts Receivable / (Payable)
           Community Service oOligations                                                                                    145                –   Interest                                                                                                493                 504




                                                                                                                                                                                                                                                                                     Noosa Council Annual Report 2022 - 2023
                                                                                                                     22,556               4,450    Dividends                                                                                             1,628                 869
                                                                                                                                                   Taxation Equivalents                                                                                  (501)                 228
           Less: Operational Expenditure                                                                            (18,503)             (3,642)
           Less: Landfill Restoration Provision                                                                      (8,798)                   –
                                                                                                                                                   Loans
           Surplus/(Deficit)                                                                                             (4,745)            808    Loans                                                                            10                 49,218              49,218

                                                                                                                                                   Unitywater operates under an income tax equivalent regime; with all tax paid being distributed to the participating Councils
           Description of CSO's provided to business activities:                                                                                   on a pro-rata basis to their participation rights.

                                                                                                                                                   Dividends received by Council from Unitywater are recorded as a reduction in the carrying value of the non-current asset.
                                                                                                                                        Net Cost

      Activities                                                             CSO description                                                       Shareholder loans provide for a fixed interest rate with quarterly interest only payments. Further detail regarding Unitywater
                                                                                                                                          $´000
                                                                                                                                                   is contained in Note 13 Equity Investments.

      Waste Management                                                       Waste collection and disposal charges for                             (c) Joint ventures
                                                                             charitable organisations.                                      145
                                                                                                                                                   Council has no interest in any joint ventures.


                  Note 31. Trust Funds
      §Subnote§




                  $ '000                                                                                                   2023            2022

                  Monies collected or held on behalf of other entities yet to be paid out to or on behalf of
                  those entities                                                                                          5,276            5,097
                                                                                                                          5,276            5,097



      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
      account in the financial statements.

      Where performance obligations are not met then the funds are transferred to Council as compensation towards undertaking
      associated rectification works.



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