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

                                                                                               Financial Statements 2019



Noosa Shire Council

Notes to the Financial Statements
for the year ended 30 June 2019

Note 17. Provisions (continued)
                                                                                                 2019              2018
                                                                                  Notes          $'000             $'000


Details of movements in Provisions:

Long Service Leave
Balance at beginning of financial year                                                           4,982            4,610
Amount provided for in the period                                                                  885              780
Amount paid in the period                                                                         (461)            (408)
Balance at end of financial year                                                                 5,406            4,982

Quarry Rehabilitation
Balance at beginning of financial year                                                              50                50
Balance at end of financial year                                                                    50                50

This is the present value of the estimated future cost of restoring the quarry site under the State Government
environmental regulations at the end of its useful life.

Landfill Sites
Balance at beginning of financial year                                                          9,353             9,259
Remeasurement due to index and discount rate                                                    1,381               251
Unwinding of provision over time                                                                  251              (157)
Balance at end of financial year                                                               10,985             9,353

This is the present value of the estimated cost of restoring the Noosa landfill under the State Government
environmental regulations at the end of its useful life.


Note 18. Other Liabilities
                                                                                                 2019              2018
                                                                                  Notes          $'000             $'000


Current

Other Liabilities - Waste Levy Refund received in advance                                        1,941                -
Other Liabilities - Unearned Revenue                                                               827              697

TOTAL CURRENT OTHER LIABILITIES                                                                 2,768               697

The State government made an advance payment to Council in June 2019 to mitigate the impacts on households
for 2019-20 of the State Waste Levy, which takes effect from 1 July 2019. The Council will be liable to the State for
payment of the Levy on most forms of commercial and household waste delivered to its disposal sites from 1 July
2019. The State is required to make an annual payment to the Council that essentially refunds the Council for the
portion of the Levy that relates to households. Council will fund the portion of the Levy that relates to commercial
waste through charges to commercial users of disposal sites from 1 July 2019. As the receipt from the State in
June 2019 is for a refund of Council’s 2019-20 Levy expense, the full amount has been recognised as a liability at
30 June 2019.




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