Annual Report 2017-18

Noosa Shire Council

Financial Statements
for the year ended 30 June 2018


Table of Contents                                                                  Page

1. Primary Financial Statements:
  Statement of Comprehensive Income                                                 2
  Statement of Financial Position                                                   3
  Statement of Changes in Equity                                                    4
  Statement of Cash Flows                                                           5

2. Notes to the Financial Statements
    1     Summary of Significant Accounting Policies                                 6
   2(a)   Council Functions - Component Descriptions                                 8
   2(b)   Council Functions - Analysis of Results by Function                        9
    3     Revenue Analysis                                                          10
    4     Grants, Subsidies, Contributions and Donations                            12
    5     Employee Benefits                                                         13
    6     Materials and Services                                                    13
    7     Finance Costs                                                             14
    8     Capital Expenses                                                          14
    9     Cash and Cash Equivalents                                                 15
    10    Trade and Other Receivables                                               16
    11    Investment Property                                                       17
    12    Property, Plant and Equipment                                             17
    13    Fair Value Measurements                                                   21
    14    Intangible Assets                                                         27
    15    Trade and Other Payables                                                  27
    16    Borrowings                                                                28
    17    Provisions                                                                29
    18    Asset Revaluation Surplus                                                 31
    19    Commitments for Expenditure                                               32
    20    Contingent Liabilities                                                    33
    21    Superannuation                                                            34
    22    Operating Lease Income                                                    35
    23    Equity Investments                                                        36
    24    Trust Funds                                                               38
          Reconciliation of Net Result for the year to Net Cash
    25                                                                              38
          Inflow (Outflow) from Operating Activities
    26    Reconciliation of Liabilities arising from Finance Activities            39
    27    Prior Period Adjustments                                                 39
    28    Events Occurring After Balance Sheet Date                                40
    29    Financial Instruments                                                    40
    30    National Competition Policy                                              45
    31    Transactions with Related Parties                                        46

3. Management Certificate                                                           49

4. Independent Auditor's Report                                                     50

5. Current Year Financial Sustainability Statement                                  52
  Certificate of Accuracy - Current Year Financial Sustainability Statement         54
  Independent Auditor's Report - Current Year Financial Sustainability Statement    55

6. Long Term Financial Sustainability Statement                                     57
  Certificate of Accuracy - Long Term Financial Sustainability Statement            59

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