Annual Report 2017-18

                                                                                             Financial Statements 2018



Noosa Shire Council

Notes to the Financial Statements
for the year ended 30 June 2018

Note 15. Trade and Other Payables (continued)
                                                                                                   2018              2017
                                                                                   Notes           $'000             $'000


Current

ATO - Net GST Payable                                                                                109              106
Accruals                                                                                           5,183            3,688
Trade Creditors                                                                                    2,715            4,498
Employee Related Accruals                                                                          1,237            1,228
Annual Leave                                                                                       2,349            2,207
Other Entitlements                                                                                    88               91

TOTAL CURRENT TRADE AND OTHER PAYABLES                                                          11,681            11,818




Note 16. Borrowings
                                                                                                    2018             2017
Loans payable are measured at amortised cost using the effective interest rate
method. The effective interest rate is the rate that exactly discounts estimated future
cash payments or receipts through the expected life of the financial instrument.
Borrowing costs, which includes interest calculated using the effective interest method
and administration fees, are expensed in the period in which they arise. Costs that are
not settled in the period in which they arise are added to the carrying amount of the
borrowing.

All borrowing costs are expensed in the period in which they are incurred.
Borrowings are classified as current liabilities unless Council has an unconditional right
to defer settlement of the liability for at least 12 months after the balance date.


Current

Loans - Queensland Treasury Corporation                                                            3,969            3,745

TOTAL CURRENT BORROWINGS                                                                          3,969            3,745

Non-current

Loans - Queensland Treasury Corporation                                                          32,171            34,291

TOTAL NON-CURRENT BORROWINGS                                                                    32,171            34,291




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