Annual Report 2014

Statement of comprehensive income
This statement (also known as the profit and loss) measures how Council performed financially in
relation to its operations during the financial year. In simple terms, it illustrates how the money
received from rates and other income sources is spent on the provision of services to the
community. Being the first period of operation for the new Council, there is no comparative data
available.

Figure 11 - 6-month revenue and expenditure
                           Council       “Normal”
                                        Operations
                           2013/14         2013/14
                            ($’000)         ($’000)
Revenue                   1,016,937           42,372
Expenses                    44,475            39,331
Net Result                 972,462             3,041


The “Council” revenue position of $1,016.9 million includes $972 million net gain on de-
amalgamation, which is an accounting entry to recognise the net value of assets and liabilities
transferred from Sunshine Coast Regional Council. In the course of normal operations, and
excluding one off costs associated with the adoption of the permanent organisation structure,
Council achieved a modest operating surplus of $3 million.

Operating revenue – where the money came from
Throughout the 6 month period Council received a total of $42.4 million in operating revenues
(rates, fees, operating grants); $2.4 million in capital revenue (developer contributions, capital
grants); and $972 million recorded as revenue but which resulted from the transfer and revaluation
of assets and liabilities from Sunshine Coast Regional Council. The sources of Council’s operating
revenue are shown below.

Figure 12 – Operating revenue sources 2013/14




                                      Revenue from
                  Grants & Other       Unitywater
                    Revenue               2%
                      15%



       Interest Revenue
              6%


      Fees & Charges
            5%



                                                         Rates & Utility
                                                           Charges
                                                             72%




Noosa Council Report 2014                                                             Page 18 of 24