2015-01-12 General Committee Agenda Attachment 1 to Item 17 Noosa Council Report 2014

NOOSA SHIRE COUNCIL

        Notes to the financial statements
        For the six months ending 30 June 2014                                                              Consolidated           Council
                                                                                                                2014                 2014

                                                                                                  Note            $                   $
          4   Grants, subsidies, contributions and donations                                      1.9(b)
                  {i}   Recurrent - grants, subsidies, contributions
                         and donations are analysed as follows:
                           General purpose grants                                                                   585,331             $85,331
                           Commonwealth subsidies and grants                                                        899,430             899,430
                           State Government subsidies & grants                                                      385,455             385,455
                          Donations                                                                                   20,663             20,663
                       Total recurrent revenue                                                                     1,890,879          1,890,879

                  (ii)  Capital - grants, subsidies, and contributions
                         are analysed as follows:
                           Monetary revenue constrained for capital purposes:
                           State Government subsidies & grants                                                      251,000             251,000
                           NDRRA flood grants                                                                       807,819             807,819
                           Contributions                                                                           1,300,149          1,300,149
                       Total capital revenue                                                                       2,358,968          2,358,968

          5   Capital income                                                                             ,
                  Gain on the sale of capital assets                                                6                  7,228              7,228
                                                                                                                       7,228              7,228
           6  Gain (loss) on the disposal of capital assets
                      Proceeds from the sale of plant and equipment                                                   10,155             10,155
                         Less: Book value of plant and equipment sold                                                 (2,927)            (2,927)
                                                                                                                       7,228              7,228
                  Total gain (loss) on the disposal of capital assets                               5                 7,228

           7  Gain on restructure of local government
              (a) Net result attributable to Council before net assets transferred from de-amalgamated Council

                   Net result attributable to Council                                                            973,500,642        972,461,897
                   Less:
                       Net gain on restructure of local government                                7(b)           972,198,126        972,198,126
                   Net result before gain on restructure of local government                                       1,302,516            263,771

              (b) Adjustments due to accounting policy alignment
                       Total assets and liabilities transferred to Noosa Council                               1,039,086,966       1,039,086,966
                       Opening balance adjustments by Noosa Council                                              (66,888,840)       (66,888,840)
                                                                                                                 972,198,126        972,198,126

ec      hapten                                                                                                            —   QAO
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