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2019-11-12 S&O Agenda - Item 11 - Attachment 1 - Draft Noosa Council 2018-19 Annual Report
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Financial Statements 2019
Noosa Shire Council
Notes to the Financial Statements
for the year ended 30 June 2019
Note 15. Trade and Other Payables (continued)
2019 2018
Notes $'000 $'000
Current
ATO - Net GST Payable 106 109
Accruals 3,279 5,183
Trade Creditors 2,332 2,715
Employee Related Accruals 1,249 1,237
Annual Leave 2,543 2,349
Other Entitlements 85 88
TOTAL CURRENT TRADE AND OTHER PAYABLES 9,594 11,681
Note 16. Borrowings
2019 2018
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 3,112 3,969
TOTAL CURRENT BORROWINGS 3,112 3,969
Non-current
Loans - Queensland Treasury Corporation 21,120 32,171
TOTAL NON-CURRENT BORROWINGS 21,120 32,171
page 80
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