Annual Report 2020-21

Noosa Council
General Purpose Financial Statements
for the year ended 30 June 2021
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            Table of Contents                                                                      Page


            Primary Financial Statements
            Statement of Comprehensive Income                                                         3
            Statement of Financial Position                                                           4
            Statement of Changes in Equity                                                            5
            Statement of Cash Flows                                                                   6

            Notes to the Financial Statements

            1        Information about these financial statements                                     7
            2a       Council Functions – Component Descriptions                                       9
            2b       Council Functions – Analysis of Results by Function                             10
            3        Revenue                                                                         11
            4        Interest and Other Income                                                       14
            5        Employee Benefits                                                               15
            6        Materials and Services                                                          15
            7        Finance Costs                                                                   16
            8        Capital Expenses                                                                16
            9        Cash, Cash Equivalents and Financial Assets                                     16
            10       Receivables                                                                     17
            11       Other Assets                                                                    20
            12       Equity Investments                                                              20
            13       Investment property                                                             22
            14       Property, Plant and Equipment                                                   23
            15       Intangible Assets                                                               32
            16       Contract Balances                                                               32
            17       Leases                                                                          33
            18       Payables                                                                        36
            19       Borrowings                                                                      37
            20       Provisions                                                                      38
            21       Other Liabilities                                                               39
            22       Asset revaluation surplus                                                       39
            23       Commitments for Expenditure                                                     40
            24       Contingent Liabilities                                                          40
            25       Superannuation                                                                  41
            26       Reconciliation of Net Result for the year to Net Cash Inflows/(Outflows)        42
            27       Events after the reporting period                                               42
            28       Financial Instruments and Financial Risk Management                             43
            29       National Competition Policy                                                     46
            30       Trust funds                                                                     46
            31       Prior Period Adjustments                                                        47
            32       Transactions with Related Parties                                               48

            Management Certificate                                                                   50
            Independent Auditor's Report                                                             51

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