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2021-11-15 GC Agenda - Item 12 - Attachment 1 - Noosa Council Annual Report 2020-21
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Noosa Council
Notes to the Financial Statements
for the year ended 30 June 2021
Note 3. Revenue (continued)
§Note/Subtotal§
(iii) Timing of revenue recognition for Grants, Subsidies, Contributions and Donations
2021 2020
Revenue Revenue
recognised Revenue recognised Revenue
at a point in recognised at a point in recognised
$ '000 time over time time over time
Grants and subsidies 4,307 10,712 4,824 5,780
Donations 13 – 19 –
Contributions 4,252 – 3,223 –
8,572 10,712 8,066 5,780
Note 4. Interest and Other Income
§Note§
§Subnote§
$ '000 2021 2020
(a) Interest and Investment Revenue
Interest received from financial institutions and term deposits is accrued over the term of the investment.
Interest from Financial Institutions and Term Deposits 421 1,038
Interest from Overdue Rates and Utility Charges 380 507
Loan to Unitywater 2,220 2,392
Total Interest and Investment Revenue 3,021 3,937
§Subnote§
(b) Other Income
Dividends are recognised when they are declared.
Unitywater Income Tax Equivalent Received 1,936 1,857
Other 1,016 834
Total Other Income 2,952 2,691
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