2019-12-10 P&E Agenda - Item 6 - Attachment 2 - NBRF Audited Financial Statements 2018-19

Planning & Environment Committee Agenda
10 December 2019
Item 6 - Attachment 2




     24 October 2019


     The Directors
     Noosa Biosphere Reserve Foundation Ltd, ATF
     Noosa Biosphere Reserve Trust
     52 Doonella Street
     TEWANTIN, 4565


     Dear Directors

     NOOSA BIOSPHERE RESERVE TRUST: 2019 AUDIT

     The audit of Noosa Biosphere Reserve Trust is complete for the year ended 30 June 2019. Lodgement of the 2019
     Annual Information Statements (AIS) and accounts with the ACNC is required by 31 January 2020.

     Matters Arising

     Grants Committed to be Expended

     The usefulness of a disclosure in relation to grant’s approved but still to be paid out was discussed again this year.
     Consideration should be given to including this information in future years.

     Changes to Leasing Accounting Standard – Now no Impact in June 2020 Year End

     Last year we flagged that a new leasing standard would require attention and potential adjustments in 2020 to
     recognise the benefit the trust receives in relation to its peppercorn lease. In response to feedback the Australian
     Accounting Standards Board received, in particular on the difficulty of not-for profits implementing this standard
     the standard has been amended to remove the requirement to adjust for peppercorn leases. As such this (for the time
     being) is no longer a worry.

     Should you wish to discuss the above, please do not hesitate to contact me.

     Our final invoice for the accounts preparation and audit is attached.

     Yours sincerely




     James Kenward
     Director