Meeting papers

                                                                                                                                Background
      Community Financial Report
                                                                                                                                Council’s annual financial statements are prepared
                                                                                                                                to comply with Australian Accounting Standards
      Overview                                                       Highlights and                                             and contain specific information regarding financial
                                                                                                                                performance.
                                                                     achievements
      This report simplifies the detailed financial information                                                                 Financial statements include:
      that Council is required to prepare under legislation and
      provides a summary of Council financial performance            Council has achieved another positive financial result     — a Statement of Comprehensive Income (i.e. Profit and
      for the 2022/23 financial year.                                this year. The following outcomes were achieved during       Loss),
                                                                     the year:                                                  — a Statement of Financial Position (i.e. Balance Sheet),
      The period ended 30 June 2023 represents another                                                                          — a Statement of Changes in Equity, and
      positive financial result for Council and provides a firm      — A net financial result of $16.7 million when including   — a Statement of Cash Flows.
      foundation for future operations. Ongoing innovation             Council’s share of Unitywater’s annual profit, capital
      and a commitment to strong financial management                  revenue and capital expenditure to Council’s             Collectively, these financial statements provide a formal
      through compliance with our Financial Sustainability             operating position.                                      picture of the financial strength of an organisation.
      policy will ensure that this position is maintained into the




                                                                                                                                                                                                                               Noosa Council Annual Report 2022 - 2023
      future.                                                        — State and federal government support for both            The Community Financial Report (CFR) consists of five
                                                                       operating and capital projects continued with grant      key reporting elements, each of which has a specific
                                                                       funding increasing over the previous year with $24.6     purpose for the measurement and presentation of
                                                                       million received.                                        Council’s finances. The linkages between the five key
                                                                                                                                elements are shown in Figure 1.
                                                                     — Continued investment in infrastructure replacement
                                                                       to maintain service levels to the community, with a      Figure 1
                                                                       record $44.5 million in capital works delivered.         Financial Reporting Elements

                                                                     — After accounting for an increase of $8.8 million in
                                                                       Council’s landfill restoration provision, due to more
                                                                       comprehensive consumption and cost forecasts, the
                                                                       result was a net operating deficit of $4.1 million.                                              Statment                Statment of
                                                                                                                                                                         of Cash               Comprehensive
                                                                                                                                                                          Flows                   Income



                                                                                                almost                                                                                 Financial

           $123.7 million                                   Strong                              $1.4 billion                                                                            Ratios

          Operating Revenue generated                    Cash & Debit Position                   in Community Equity
                                                                                                                                                                       Statment                     Statment
                                                                                                                                                                      of Changes                   of Financial

              $31 million                            $24.6 million                           Credit rating                                                             in Equity                     Position

        on renewal of infrastructure Assets         received in Grants & Subsidies           Sound with a Neutral outlook
                                                                                                    maintained


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