Annual Report 2017-18

                                                                                            Financial Statements 2018



Noosa Shire Council

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

Note 19. Commitments for Expenditure (continued)
                                                                                                  2018               2017
                                                                                  Notes           $'000              $'000


(b) Operating Leases (Non Cancellable)

Minimum lease payments in relation to non-cancellable operating
leases are as follows:
Within one year                                                                                     134                 190
One to five years                                                                                   492                  60
Later than five years                                                                                 -                   -
                                                                                                   626                  250

IT equipment lease payments are generally fixed, but with inflation clauses on which
future rentals are determined.



(c) Operational Contractual Commitments

Contractual commitments at end of financial year but not recognised in the
financial statements are as follows:
Within one year                                                                                 19,747               7,855
One to five years                                                                               47,491              27,961
Later than five years                                                                           19,356              14,238
                                                                                               86,594            50,054


Note 20. Contingent Liabilities
                                                                                                          Council
Details and estimates of maximum amounts of contingent liabilities are as follows:

Local Government Mutual
Noosa Shire Council is a member of the local government mutual liability self-insurance pool, LGM Queensland.
In the event of the pool being wound up or it is unable to meet its debts as they fall due, the trust deed and rules
provide that any accumulated deficit will be met by the individual pool members in the same proportion as their
contribution is to the total pool contributions in respect to any year that a deficit arises.

As at 30 June 2017 the financial statements reported an accumulated surplus and it is not anticipated any liability
will arise.




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