2021-01-18 GC - Item 1 - Attachment 1 - Noosa Biosphere Reserve Foundation 2019 20 Annual Report

                                                 NOOSA BIOSPHERE RESERVE FOUNDATION – 2019/20




FINANCIAL REPORT – Deputy Chair, Greg Schumann

The Auditors report and the statutory accounts              •   $120,000 was provided by Noosa Council
are included in detail at Appendix 1. We are                    for operational expenses.
required to report against relevant accounting              •   $20 interest was received from deposits.
standards. This complicates the presentation as
grants can only be counted as income as they are         Expenditure
earned (promised) and not when physically
received as cash. The balance of the grant               Expenses totalled $217,496, which is made up of
promised is held on the balance sheet as an asset        project grants of $153,176 and operational costs
with an offsetting liability. Also, the fiscal           of $64,320. The decrease in expenditure of
accounts consolidate the financials into one P&L.        $195,106 from the previous financial year is
The management accounts measure financials by            mainly due to less project activity.
project and use cash-based accounting.
                                                         Grants provided
Statement of Financial Position
                                                         The following grants were provided between
As of 30th June 2020, our financial position is          01/07/2019 to 30/06/2020:
stronger this year by $56k (an increase of 47%),
represented by the Net Income and Expenditure             Project             Amount     Grant Recipients
set out in the following sections.                        Keep it in Kin      $35,000    Noosa & District
                                                          Kin                            Landcare Group
NBRF has no significant capital assets. Our total         Education           $51,250    Noosa
assets are $389,445 of which $329,511 are the             Project – Noosa                Environmental
Foundation’s bank deposits which reflects grants          Environmental                  Education Hub
not yet paid out or allocated. The drop-in assets         Education Hub
from the previous FY reflects grants substantially        Bring Back the      $6,780     The University
completed (Landcare Keep it in Kin Kin & USC              Fish (BBTF)                    of Queensland
Oyster Reef Pilot).                                       Noosa Trail         $9,700     Tourism Noosa
                                                          Masterplan
Total liabilities are $195,096 and liabilities for        Oyster Project      $10,000    Griffith
planned grants rounds are $188,687. The                                                  University
difference between assets and liabilities is a            Country Noosa –     $1,000     Country Noosa
surplus of $194,349 carried forward to 2020/21            Rural Enterprise               Incorporated
for the increased activity envisaged.                     Plan
                                                          Total Grants        $113,730
Income                                                    Provided
                                                          Additional
In summary, NBRF had a total income of $273k for
                                                          expenses
the financial year made up of:
                                                          PM Consultant       $39,445
                                                          for BBTF
    •    $152,175 was provided by Noosa Council
                                                          (invoiced in July
         from the Environmental Levy in line with         2019 for work
         the second round of projects.                    done prior FY)
    •    $1,000 was provided by Noosa Council
         from the Sustainability Fund.




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