Original source · versioned page text
2017-11-07 S&O Agenda - Attachment 1 to Item 10 - Annual Report 2016-17
Text sections have not been matched to the original PDF pages. Use the original document to check page numbers.
Financial Statements 2017
Noosa Shire Council
Notes to the Financial Statements
for the year ended 30 June 2017
Note 14. Trade and Other Payables (continued)
2017 2016
$'000 $'000
Current
ATO - Net GST Payable 106 85
Accruals 3,688 2,940
Creditors 4,498 1,720
Employee Related Accruals 1,228 960
Annual Leave 2,207 2,094
Other Entitlements 91 89
TOTAL CURRENT TRADE AND OTHER PAYABLES 11,818 7,888
Note 15. Borrowings
Loans payable are measured at amortised cost using the effective interest rate
method. The effective interest rate is the rate that exactly discounts estimated future
cash payments or receipts through the expected life of the financial instrument.
Borrowing costs, which includes interest calculated using the effective interest method
and administration fees, are expensed in the period in which they arise. Costs that are
not settled in the period in which they arise are added to the carrying amount of the
borrowing.
All borrowing costs are expensed in the period in which they are incurred.
Borrowings are classified as current liabilities unless Council has an unconditional right
to defer settlement of the liability for at least 12 months after the balance date.
Current
Loans - Queensland Treasury Corporation 3,745 2,932
TOTAL CURRENT BORROWINGS 3,745 2,932
Non-current
Loans - Queensland Treasury Corporation 34,291 35,186
TOTAL NON-CURRENT BORROWINGS 34,291 35,186
page 28
See the original
The page text is free to read. Viewing or downloading an original file needs an account.
Log in to see the originalLog in to download the original file
Large file: the download may take up to a minute.
Searchable page text hides email addresses. Original files are unchanged and may show email addresses.