Annual Report 2020-21

          Noosa Shire Council


  Statement of Financial Position
  The Statement of Financial Position (or balance sheet) measures what Council owns (i.e. its assets),
  and what we owe (i.e. liabilities) to determine the total community equity (net worth) at the end of
  each financial year. Overall, Council’s investment in community capital continues to grow steadily.
  Figure 6 summarises the movement in Council’s assets
                                                              Cash levels have increased due to
  and liabilities that comprise community equity.
                                                              sustainable cash management practices
  Figure 6 – Comparative Statement of Financial               as well as from the timing of capital works
  Position 2020/21 ($’000)                                    projects and related grant funding. Debt
                                                              levels have remained consistent as Council
                     2019/20           2020/21
                                                              continues to strengthen its debt position.
                     ($’000)           ($’000)
                                                              Overall, Council’s net cash position (i.e.
   Assets            1,142,095         1,183,587              cash less debt) continues to be strong with
   Liabilities       56,987            61,682                 an increase of $13.3 million year on year.

   Community         1,085,108         1,121,905              Figure 7 – Cash and Debt Comparison
   Equity                                                     2020/21 ($’000)

                                                               $80,000

  Figure 7 shows Council’s cash and debt holdings as at        $70,000
                                                               $60,000
  30 June 2021 compared to the previous year.                  $50,000
                                                               $40,000


  Assets – what we own
                                                               $30,000
                                                               $20,000
                                                               $10,000
  Current assets are represented by cash, investments,             $-
                                                                                        Cash                                   Debt
  inventories and receivables (money owed to Council).                                  2019/20 ($,000)      2020/21 ($,000)

  Council’s current assets as at 30 June 2021 equated to
                                                              Figure 8 – Non-Current Assets and
  $83.0 million.
                                                              Community Infrastructure 2020/21
  Non-current assets of over $1 billion includes
                                                              ($’000)
  property, plant and equipment totalling $952 million,
  as well as the value of Council’s investment in                              Parks & Other
                                                                                                Work in Progress
                                                                                                   $28,059
                                                                               Infrastructure
  Unitywater. Property, Plant and Equipment represents                            $47,248                                 Land &
                                                                                                                       Improvements
  community infrastructure which includes roads,                   Stormwater &                                          $176,062
                                                                 Drainage Network
  bridges, stormwater, buildings, land and other                     $143,771
                                                                                                                                 Buildings
                                                                                                                                 $62,243
  operational assets owned and controlled by Council.          Intangible Assets
                                                                    $1,435                                                     Plant & Equipment
                                                                                                                                     $7,899
  The main non-current asset categories and their
  respective values are shown in the Figure 8.
                                                                                                                     Road & Bridge Network


  Liabilities – what we owe
                                                                                                                           $488,899




  Money owed by Council is presented as both current and non-current liabilities in the statement of
  financial position. Current liabilities are those amounts that are payable by Council within the next
  twelve months, and non-current liabilities are payable beyond the twelve month horizon.
  The most significant element is loans raised by Council to fund the investment in community
  infrastructure. Total loans remained constant in 2020/21 with Council’s refinancing its QTC debt
  facility to take advantage of lower interest rates and to free up future cash flows for reinvestment.
  Council’s standard annual loan repayment schedule was met.


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