Annual Report 2014

NOOSA SHIRE COUNCIL

 Notes to the financial statements
 For the six months ending 30 June 2014                                                              Consolidated            Council
                                                                                                          2014                2014

                                                                                          Note             $                    $
  4   Grants, subsidies, contributions and donations                                       1.9(b)
          {i}   Recurrent - grants, subsidies, contributions
                 and donations are analysed as follows:
                    General purpose grants                                                                    585,331            585,331
                    Commonwealth subsidies and grants                                                         899,430            899,430
                    State Government subsidies & grants                                                       385,455            385,455
                   Donations                                                                                   20,663             20,663
               Total recurrent revenue                                                                      1,890,879           1,890,879

           (ii) Capital - grants, subsidies, and contributions
                  are analysed as follows:
                   Monetary revenue constrained for capital purposes:
                    State Governinent subsidies & grants                                                      251,000            251,000
                    NDRRA flood grants                                                                        807,819            807,819
                   Contributions                                                                            1,300,149           1,300,149
               Total capital revenue                                                                        2,358,968          2,358,968

   5  Capital income                                                                              ‘
           Gain on the sale of capital assets                                                6                  7,228               7,228
                                                                                                                7,228               7,228

   6  Gain (loss) on the disposal of capital assets
              Proceeds from the sale of plant and equipment                                                    10,155              10,155
                  Less: Book value of plant and equipment sold                                                 (2,927)             (2,927)
                                                                                                                7,228               7,228
           Total gain (loss) on the disposal of capital assets                               5           7228              228
   7  Gain on restructure of local government
      (a) Net result attributable to Council before net assets transferred from de-amaigamated Council

           Net result attributable to Council                                                             973,500,642        972,461,897
           Less:
               Net gain on restructure of local government                                 7 (b)          972,198,126        972,198,126
           Net result before gain on restructure of local government                                         1,302,516           263,771

       (b) Adjustments due to accounting policy alignment
                Total assets and liabilities transferred to Noosa Council                                1,039,086,966      1,039 ,086,966
                Opening balance adjustments by Noosa Council                                              (66,888,840)        (66,888,840)
                                                                                                          972,198,126         972,198,126

a                                                                                                                   ,  AO
         eee                                                                                                   certified statements
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