2019-11-12 S&O Agenda - Item 11 - Attachment 1 - Draft Noosa Council 2018-19 Annual Report

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. Figure 3 summarises Council’s 2018/19 financial performance.

Figure 3 – Council Net Result Financial Performance 2018/19

                         2017/18             2018/19
                          ($’000)             ($’000)
 Revenue                 111,793             112,575
 Expenses                111,200              95,090
 Net Result                   593             17,485

The 2018/19 net result of $17.5 million includes non-operational items such as revenue received specifically to fund
capital expenditure (including grants and subsidies and developer contributions), Council’s share of Unitywater’s annual
profit and movements in investment property valuations.

The removal of the $11.9 million of non-operational items shows Council’s actual operating surplus to be $5.6 million.


Operating revenue – where the money came from
Throughout the financial year, Council received a                              Unitywater
total of $97.4 million in operating revenues (rates,                               9%
                                                                  Grants & Other
fees, operating grants), $8.7 million in capital                      Revenue
revenues (developer contributions, capital grants)                      5%
and $6.5 million recorded as revenue from Council’s           Interest
                                                              Revenue
share of investment in Unitywater.                               5%

Figure 4 outlines the sources of Council’s $97.4
                                                              Fees &
million in operating revenue received in 2018/19.             Charges
                                                               16%
The breakdown in operating revenue confirms that
Council continues to have significant control over
the majority of its income sources, and as a result is
                                                              Other Income
not reliant on other levels of government or external             1%
                                                                                                                    Rates & Utility
                                                                                                                       Charges
agencies to maintain its financial independence.                                                                        64%

                                                                             Figure 4 - Operating Revenue Sources 2018/19

Key Council revenue sources include:
   • Rates and utility charges comprising general rates, charges for waste collection and disposal, special rates such
     as the tourism and economic levy as well as other separate rates and special charges.
   • 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 | 2018/2019 Annual Report                                                                             Page 44