Annual Report 2022-23

                                                                                                         Current Year Financial Sustainability Statement
                                                                                                                                                                                                                          Actual             Target
                                                                                                                                                                                                                           2023
      • Conclude on the appropriateness of the council’s use of the going concern basis of
                                                                                                         Measures of Financial Sustainability
        accounting and, based on the audit evidence obtained, whether a material uncertainty
        exists related to events or conditions that may cast significant doubt on the council’s          1. Operating Surplus Ratio
        ability to continue as a going concern. If I conclude that a material uncertainty exists, I am   Net Result (excluding Capital items) 1
                                                                                                                                                                                                                          3.18%            0% - 10%
        required to draw attention in my auditor’s report to the related disclosures in the financial    Total Operating Revenue (excluding Capital items) 2
        report or, if such disclosures are inadequate, to modify my opinion. I base my conclusions
        on the audit evidence obtained up to the date of my auditor’s report. However, future            An indicator of which the extent to which revenues raised cover operational expenses only or are available for capital
                                                                                                         funding purposes or other purposes.
        events or conditions may cause the council to cease to continue as a going concern.
      • Evaluate the overall presentation, structure and content of the financial report, including
        the disclosures, and whether the financial report represents the underlying transactions
                                                                                                         2. Asset Sustainability Ratio
        and events in a manner that achieves fair presentation.                                          Capital expenditure on the Replacement of Assets (renewals)
                                                                                                         3Depreciation Expense                                                                                          158.59%            > 90.00%
      I communicate with the council regarding, among other matters, the planned scope and
      timing of the audit and significant audit findings, including any significant deficiencies in
      internal control that I identify during my audit.                                                  An approximation of the extent to which the infrastructure assets managed are being replaced as these reach the end of
                                                                                                         their useful lives.
      Report on other legal and regulatory requirements
      In accordance with s. 40 of the Auditor-
                                      Auditor General Act 2009, for the year ended 30 June 2023:




                                                                                                                                                                                                                                                           Noosa Council Annual Report 2022 - 2023
                                                                                                         3. Net Financial Liabilities Ratio Total
      a) I received all the information and explanations I required
                                                                                                         Liabilities less Current Assets
                                                                                                                                                                                                                        (11.54)%           < 60.00%
      b) I consider that, the prescribed requirements in relation to the establishment and keeping       Total Operating Revenue (excluding Capital items) 2
         of accounts were complied with in all material respects.                                        An indicator of the extent to which the net financial liabilities can be serviced by its
                                                                                                         operating revenue.
      Prescribed requirements scope
      The prescribed requirements for the establishment and keeping of accounts are contained in         (1) Includes only Recurrent Revenue and Recurrent Expenditure disclosed in the Income Statement. Includes share of profit from
      the Local Government Act 2009, and the Local Government Regulation 2012. The applicable               associates and joint ventures. Excludes Capital Revenue Grants, Contributions, Donations and Subsidies received for capital
                                                                                                            acquisitions, Capital Income items such as Profit from the Sale of Property, Plant and Equipment, Financial Assets, Real Estate and
      requirements include those for keeping financial records that correctly record and explain the        Investment Properties (refer to Note 5 of the Financial Management (Sustainability) Guideline 2013 for exclusions), and any Capital
      council’s transactions and account balances to enable the preparation of a true and fair              Expenditure such as Write-Off of Assets, movements in Provisions for Restoration and Rehabilitation and Revaluation Decrements that
                                                                                                            hit the Statement of Comprehensive Income.
      financial report.
                                                                                                         (2) Includes Recurrent Revenue and Other Income disclosed in the Income Statement, excluding Capital Revenue Grants, Contributions,
                                                                                                            Donations and Subsidies received for capital acquisitions. Also excludes any Capital Income items such as Profit from the Sale of:
                                                                                                            Property, Plant and Equipment, Financial Assets, Real Estate and Investment Properties (refer to Note 5 of the Financial Management
                                                                                       25 October 2023      (Sustainability) Guideline 2013 for exclusions).

                                                                                                         (3) Infrastructure Assets refer to Council's significant long-life assets that provide ratepayers with access to social and economic facilities

      Michael Claydon                                                         Queensland Audit Office       and services. It excludes land, and equipment, motor vehicles heritage collections and artwork. Renewals is defined as expenditure on
                                                                                                            existing infrastructure to return the infrastructure to their original service potential or useful life.
      as delegate of the Auditor-General                                                   Brisbane
                                                                                                         Note 1 - basis of preparation
                                                                                                         The current year financial sustainability statement is a special purpose statement prepared in accordance with the requirements
                                                                                                         of the Local Government Regulation 2012 and the Financial Management (Sustainability) Guideline 2013. The amounts used
                                                                                                         to calculate the three reported measures are prepared on an accrual basis and are drawn from the Council's audited general
                                                                                                         purpose financial statements for the year ended 30 June 2023.




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