Annual Report 2014

Figure 15 – Non-Current Assets & Community Infrastructure ($,000)

                                       Intangible Assets,
                              Other          $2,269            Land &
                         Infrastructure,                    Improvements,
                             $54,357                          $120,945
          Stormwater &                Work in Progress,
            Drainage                        $1,523
                                                                       Buildings,
            Network,                                                    $59,360
            $104,337
                                                                             Plant &
                                                                            Equipment,
                                                                              $7,235




                                     Road & Bridge
                                       Network,
                                       $525,691




Liabilities – what we owe
Money owed by Council is shown as both current and non-current liabilities in the statement of
financial position. Current liabilities are those amounts that are payable by Council within the next
twelve months, and non-current liabilities are payable beyond the twelve month horizon. The most
significant element is loans raised by Council to fund the investment in community infrastructure.

Council holds a total of $41.2 million in loans with the Queensland Treasury Corporation, with
highly competitive interest rates borrowed over a twelve year term. The legislative and policy
constraints imposed upon Council for borrowing activities are outlined in the borrowing policy
(available on Council’s web site).

Council inherited $40 million in loans transferred from Sunshine Coast Regional Council on de-
amalgamation, plus $2.3 million in new loans raised by Council during the six month period. The
forward budget projections show that inherited debt will be fully paid within 12 years, and there are
no significant new borrowings proposed at this stage, though Council has significant capacity to
raise new loans for future infrastructure development.

Additional details on Council’s debt position and its relationship to other elements of the financial
statements are contained in the financial ratio section of this report.

Statement of Changes in Equity
The statement of changes in equity illustrates how the net worth has changed as a result of
Council’s operations through the period. Council commenced operations in January, and the net
assets identified in the statement of financial position equate to the shire equity (retained earnings
and shire capital).




Noosa Council Report 2014                                                                Page 21 of 24