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2016-11-08 S&O Agenda - Item 3, Attachment 1 - Local Economic Plan
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Log in to see the plans as drawnCommunity Financial Report – 2015/16
Background
This community financial report aims to simplify the financial information required to be prepared
by Council under legislation and accounting standards, and provides a simple summary of our
financial performance for the financial year just ended.
Council’s financial statements are prepared based on Australian accounting standards, and contain
specific information regarding financial performance for the relevant period. Financial statements
include a statement of comprehensive income (i.e. profit and loss), a statement of financial position
(i.e. balance sheet), a statement of cash flows as well as a statement of changes in equity.
Collectively, the statements provide a formal picture of the financial strength of an organisation.
The Community Financial Report consists of five key reporting elements, each of which has a
specific purpose for the measurement and presentation of our finances. The linkages between the
five key elements are shown below:
Statement of
Comprehensive
Income
Statement of
Statement of Financial
Financial
Cash Flows Ratios
Position
Statement of
Changes in
Equity
Noosa Council Annual Report 2015/16 Page 30
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