2018-11-06 S&O Agenda - Attachment 1 to Item 5 - Draft Annual Report 2017-18

                                                                                           Financial Statements 2018



Noosa Shire Council

Notes to the Financial Statements
for the year ended 30 June 2018

Note 17. Provisions (continued)
                                                                                                  2018             2017
                                                                                  Notes           $'000            $'000


Council has the following restoration provisions:

Landfill sites

The provision represents the present value of the anticipated future costs associated with the closure of the
Eumundi Rd landfill sites, decontamination and monitoring of historical residues and leaching on the site.
The calculation of this provision requires assumptions such as application of environmental legislation, site
closure dates, available technologies and engineering cost estimates. These uncertainties may result in future
actual expenditure differing from amounts currently provided. Because of the long-term nature of the liability,
the most significant uncertainty in estimating the provision is the costs that will be incurred.
The provision recognised for the Eumundi Rd landfill sites is reviewed at least annually and updated based on
the facts and circumstances available at the time. Management estimates that the site will fully close in 2070
and that site restoration will occur progressively over the subsequent thirty years. The provision recognises the
costs associated with closure and rehabilitation of historical and existing cells as well as the rehabilitation of
the site following full closure in 2070.

Quarry Sites
The provision represents the present value of the anticipated future costs associated with the closure of the
Ringtail Creek quarry site, reclamation and rehabilitation of the site.

The calculation of this provision requires assumptions such as application of environmental legislation, site
closure dates, available technologies and engineering cost estimates. These uncertainties may result in future
actual expenditure differing from amounts currently provided. Because of the long-term nature of the liability,
the most significant uncertainty in estimating the provision is the costs that will be incurred. The provision
recognised for quarry sites rehabilitation is reviewed at least annually and updated based on the facts and
circumstances available at the time.

                                                                                                  2018             2017
                                                                                  Notes           $'000            $'000


Current

Long Service Leave                                                                               4,364            4,076
Landfill Sites                                                                                     284              273

TOTAL CURRENT PROVISIONS                                                                        4,648            4,349

Non-current

Long Service Leave                                                                                 618              534
Quarry Rehabilitation                                                                               50               50
Landfill Sites                                                                                   9,069            8,986

TOTAL NON-CURRENT PROVISIONS                                                                    9,737            9,570



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