Annual Report 2014

NOOSA SHIRE COUNCIL

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

 33   Financial instruments - continued
            Trade and other receivables
                 In the case of rate receivables, Council has the power (o sell the property to recover any defaulted amounts. In effect this
                 power protects the Council against credit risk in the case of defaults.
                 in other cases, Council assesses the credit risk before providing goods or services and applies nonnal business credit
                 protection procedures to ininitnise the risk.

                 By the nature of the Councils operations, there is a geographical concentration of risk in the Council's area.

                 Ageing of past due receivables and the amount of any impairment is disclosed in the following table:

                    2014 Consolidated         10.371.206          138.236           79.163        5.428.386                       |       16.016.992

                    2014 Council              0.371.206           138.236                         5.428.386 |                           wt $.0 16.992
                 The above analysis does not include the non-current reccivable of $49,217,517 which represents a fixed rate loan to Unitywater.
                  Refer to Note 15 for further information.

            Liquidity risk
                 Liquidity risk is the risk that the Council will encounter difficulty in meeting the obligations associated with its financial
                  liabilities that are settled by delivering cash or another financial asset.

                 Noosa Shire Council is exposed to liquidity risk through its normal course of business and through its borrowings
                 with QTC nnd other financial institutions.

                 The Council manages its exposure to liquidity risk by maintaining sufficient cash deposits and undrawn facilities, both short
                 and long term, to cater for unexpected volatifity in cash flows.

                 The following table sets out the liquidity risk in relation to Financial liabilities held by the Council. It represents the
                 remaining contractual cashflows (principal and interest) of financial liabilities at the end of the reponing period,
                 excluding the impact of netting agrecments:

                 2014                                      ee
                       Trade and other payables                4,075,282              -                                 4,075,282         4,075,282
                       QTC Loans                               7,113,778      19,436,191 |       32,049.878 |     58,599,846 |           41,177,025
                                                          ___11,189,059 |       19,436,193 |     32,049,878 | = 62,675,128 |             45,252,307 |

                2014                                       Es ls                                   ss es
                       Trade and other payables                 4,075,282                                               4,075,282         4,075,282
                       QTC Loans                                7.113.778 |    19,436,191 | 32,049,878 |              58,599,846 |     _ 41,177,025
                                                               11,189,059       19,436,191       32,049,878           62,675,128         45,252,307

                 The outflows in the above table are not expected to occur significantly earlier than outlined and are not expected to be materially
                 different amounts than indicated in the table.

                                                                                                                                                         QAO
                                                                                                                                               certified statements

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