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Annual Report 2020-21
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Noosa Council
Notes to the Financial Statements
for the year ended 30 June 2021
Note 7. Finance Costs
§Note/Subtotal§
§Subnote§
$ '000 2021 2020
Finance Costs - Queensland Treasury Corporation 3,458 1,234
Bank Charges 138 130
Impairment of Receivables (8) 12
Interest on Leases 3 5
Landfill Restoration 1,236 3,307
Total Finance Costs 4,827 4,688
During the year Council elected to refinance its existing QTC debt pool under the Local Government Debt Refinancing
Program. As a result, an early repayment adjustment of $2.5 million reflecting the difference between the book value and
market value of the debt was incurred. This amount was capitalised as part of the new refinanced amount. Refer Note 19 for
further details.
Note 8. Capital Expenses
§Note§
§Subnote§
$ '000 Notes 2021 2020
(a) Revaluation Decrement
Downwards Revaluation of Investment Property 13 100 300
100 300
§Subnote§
(b) Other Capital Expenses
Loss on Write-off of Assets 4,700 3,851
4,700 3,851
§Subnote§
Total Capital Expenses 4,800 4,151
Note 9. Cash, Cash Equivalents and Financial Assets
§Note§
§Subnote§
$ '000 2021 2020
Cash and cash equivalents in the statement of cash flows include cash on hand, all cash and cheques receipted but not banked
at the year end, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities
of three months or less that are readily convertible to cash and which are subject to an insignificant risk of changes in value.
Cash and Cash Equivalents
Cash at Bank and On Hand 1,237 258
Deposits at Call 68,791 56,766
Balance per Statement of Financial Position 70,028 57,024
Balance per Statement of Cashflows 70,028 57,024
Restricted and Internally Allocated Cash and Cash Equivalents
Cash and Cash Equivalents 70,028 57,024
Less: Externally Imposed Restrictions on Cash (12,064) (10,590)
Unrestricted Cash 57,964 46,434
continued on next page ... Page 16 of 61
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