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2016-11-08 S&O Agenda - Item 3, Attachment 1 - Local Economic Plan

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                                                                                            Financial Statements 2016



Noosa Shire Council

Notes to the Financial Statements
for the year ended 30 June 2016

Note 16. Provisions (continued)
                                                                                                   ~O i 6           2015
                                                                                                  $'000             $'000

Details of movements in Provisions:

Long Service Leave
Balance at beginning of financial year                                                            4,462            4,806
Amount provided for in the period                                                                 1,119              318
Amount paid in the period                                                                          (~91}            (~~.?)
Balance at end of financial year                                                                  4,714            4,4:62

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                                                            7,797            7,719
Increase in provision- due to change in time                                                        851               78
Balance at end of financial year                                                                  8,648            7,797
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 17. Asset Revaluation Surplus

Movements in the asset revaluation surplus:
Balance at beginning of financial year                                                           14,334
Net adjustment to non-current assets at end of period to reflect a
change in current fair value:
Land                                                                                              6,815
Buildings                                                                                         1,335            5,638
Storm Water                                                                                                        8,696
Other Infrastructure Assets                                                                       2,033
                                                                                                 10,183           .1~,334
Balance at end of financial year                                                               24.~17            14,334




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