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              $                   $
    20 Intangible assets
             Net carrying value at period end:
                 Computer Software                                                                            2,268,600          2,268,600
                                                                                                              2,268,600          2,268,600
             Computer Software
                 Acquired at cost                                                                             2,171,862           2,171,862
                 Assets transferred from de-amalgamated Council                                                 118,247             118,247
                                                                                                              2,290,109           2,290,109
             Accumulated amortisation
                 Amortisation in the period                                                                      21,509             21,509
                                                                                                                 21,509             21,509

             Net carrying value at end of the financial year                                                  2,268,600           2,268,600

             Straight line amortisation has been used with no residual value.
             Software has a useful life estimated at ten years.

    21  Trade and other payables
             Current
                  Accruals                                                                                    2,054,226           2,054,226
                 Creditors                                                                                     1,185,975          1,185,975
                  Employee related accruals                                                                     835,081             835,081
                  Annual leave                                                               1.23(b)          2,484,788           2,484,788
                  Other entitlements                                                                            109,720             109,720
                                                                                                              6,669,789           6,669,789
             Employee benefit expenses are calculated at current pay levels and adjusted for
             inflation and likely future changes in salary level.

    22   Provisions
             Current
                  Long service leave                                                         1.23(e)          4,358,384           4,358,384
                                                                                                              4,358,384           4,358,384
             Non-Current
                  Long service leave                                                         1.23(e)            447,272             447,272
                  Property restoration:
                      (i) Landfill sites                                                                       7,719,069          7,719,069
                      (ii) Quarry sites                                                                          50,000              50,000
                                                                                                               8,216,341          8,216,341

             Details of movements in provisions:
                  Long service leave
                      Balance at the beginning of financial year                                                    -                  -
                      Transferred from de-amalgamated council                                                  5,751,090          5,751,090
                      Amount provided for in the period                                                         258,040             258,040
                      Amount paid in the period                                                               (1,203,475)        (1,203,475)
                      Balance at end of the financial year                                                     4,805,656          4,805,656

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