Annual Report 2014

NOOSA SHIRE COUNCIL

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

                                                                                             Note              3                    3
          The QTC joan market value at the reporting date was $45,805,276.88
          This represents the value of the debt if Council repaid it at that date. As it is the
          intention of Council to hold the debt for its term, no provision is required to be made
          in these accounts,
          No assets have been pledged as security by the council for any liabilities.
           Borrowings are all in AUD and are underwritten by the Queensland State
          Government.

 24   Other liabilities
           Current
               Unearned revenue                                                                                  729,623             729,623
               Cash collected under service level agreements                                                     101,517              101,517
                                                                                                                 831,140             831,140

  25 Retained surplus                                                                         1.27
           Movement in retained surplus
                Balance at the beginning of financial year                                                           -                   -
               Net result                                                                                    973,500,642         972,461,897
                Balance at end of the financial year                                                         973,500,642         972,461,897

  26  Commitments for expenditure
           Operating leases
                Minimum jease payments in relation to non-cancellable operating
                leases are as follows:
                    Within one year                                                                              975,908             975,908
                    Later than | year but not later than 5 years                                                 527,841              527,841
                                                                                                                1,503,749           1,503,749
           Operating leases are entered into for motor vehicles and IT equipment.
           lease payments are generally fixed, but with inflation clauses on
           which future rentals are determined.

           Contractual Commitments
                Contractual commitments at balance date but not recognised
                in the financial statements are as follows:
                    Within one year                                                                             5,162,500           5,162,500
                    One to five years                                                                           1,671,416           1,671,416
                                                                                                                6,833,916           6,833,916

           Capital Commitments
                Commitment for the construction of the following assets contracted for at the
                reporting date but not recognised as liabilities are as follows:
                     Roads, Bridges and Stormwater                                                                510,800             510,800
                     Pathways                                                                                     514,500             514,500
                     Information Technology                                                                       128,100             128,100
                     Other                                                                                        110,600             110,600
                                                                                                                1,264,000           1,264,000
                These expenditures are payable :
                     Within one year                                                                            1,264,000           1,264,000
                     Later than 1 year but not later than 5 years                                                    -                   -
                     Later than 5 years                                                                              -                   -
                                                                                                                1,264,000           1,264,000

                                                                                                                          QAO

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