2017-11-07 S&O Agenda - Attachment 1 to Item 10 - Annual Report 2016-17

Statement of comprehensive income
This statement (also known as the profit and loss) measures how Council performed financially in
relation to funding its operations during the financial year. In simple terms, it summarises how much
money was received by Council and how much was spent in a particular year. The following table
summarises Council’s 2016/17 financial performance.
Figure 3 – Council Financial Performance 2016/17 ($’000)

                        2015/16           2016/17
                         ($’000)           ($’000)
Revenue                 103,991           106,999
Expenses                   84,944             89,875
Net Result                 19,047             17,124

The 2016/17 net result of $17.1 million includes revenue received specifically to fund capital
expenditure (including grants and subsidies and developer contributions) as well as income and
expenses recognised for investment property valuation changes, movement in the provision for future
landfill rehabilitation costs, and asset disposals. The removal of the $14 million of non-operational items
shows Council’s actual operating surplus to be $3.1 million.

Operating revenue – where the money came from
Throughout the financial year, Council received a total of $91.4 million in operating revenues (rates,
fees, operating grants), $9.8 million in capital revenues (developer contributions, capital grants) and
$5.8 million recorded as revenue from Council’s share of investment in Unitywater.

The following graph outlines the sources of Council’s $91.5 million in operating revenue received in
2016/17.

Figure 4 – Operating Revenue Sources 2016/17

                             Grants & Other
                      Interest Revenue
                      Revenue     7%
                        5%
                 Fees &
                 Charges
                  16%


               Other Income
                   4%

                                          Rates & Utility
                                            Charges
                                              68%




The above breakdown in operating revenue confirms that Council has significant control over the
majority of its income sources, and as a result is not reliant on other levels of government or external
agencies to maintain its financial independence. Key Council revenue sources include:
 Rates and utility charges include general rates, charges for waste collection and disposal, special
   rates such as the tourism and transport levy as well as other separate and special rates.
 Fees and charges include a range of regulatory fees and charges as well as revenue from
   commercial operations such as holiday parks and waste management.
 Interest revenue includes the return from the investment of available cash.
 Revenue from other income includes tax payments from Council’s shareholding in Unitywater.

                                                                       Noosa Council | Annual Report 2016 - 2017
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