31dfa1d2-3224-4dd7-a957-281a51cc7802

NOOSA SHIRE COUNCIL

Notes to the financial statements
For the six months ending 30 June 2014                                                               Consolidated            Council
                                                                                                          2014                 2014
                                                                                           Note             $                   $
 15 Trade and other receivables                                                             1.12
          (a) Current
               Rateable revenue and utility charges                                                         4,159,585           4,159,585
               Fees and charges                                                                             1,016,774           1,016,774
               GST recoverable                                                                                339,407            339,407
               Other debtors                                                                                     -                   -
               Inter-entity balance with SCRC                                                              10,501,227          10,501,227
                                                                                                           16,016,993          16,016,993
               Prepayments                                                                                    411,901            411,901
               Accrued Revenue                                                                              2,377,385           2,377,385
                                                                                                           18,806,279          18,806,279
          (b) Non-current
               Loans and advances to associates                                             1.16           49,217,517         49,217,517
                                                                                                           49,217,517         49,217,517
          Interest is charged on outstanding rates at a rate of 11% per annum. No interest is
          charged on other debtors. There is no concentration of credit risk for rates and utility
          charges, fees and other debtors receivable.

  16  Inventories                                                                           1.13
          Current
               Inventories for internal use:
                    Stores and materials                                                                       63,875              63,875
                    Cultural and Recreational Facilities                                                       39,550              39,550
                                                                                                  103,435 108,425
               Valued at cost, adjusted when applicable for any loss of service potential.

  17  Equity investments
          Investment in associate through participation rights                                             62,016,970          60,978,225
                                                                                                           62,016,970          60,978,225

           Reconciliation of the carrying amount at the beginning and end
          of the current and previous period is set out below:
           Investment in associate through participation rights
               Equity investment in associate - Unity Water transferred from SCRC                          60,997,643          60,997,643
               Recognition of equity share of profit (loss) in the result for the period                     1,942,760               -
               Less distributions paid/payable to Council                                                    (904,015)               -
               Accounting adjustment on de-amalgamation                                     Hc)               (19,418)            (19,418)
               Fair value at end of financial year                                                         62,016,970          60,978,225

                                                                                                                 certified statements

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