Annual Report 2023-24

      Noosa Council                                                                                                                      Noosa Council




                                                                                                                                                                                                                                                                              Financial Performance
      Notes to the Financial Statements                                                                                                  Notes to the Financial Statements
      for the year ended 30 June 2024                                                                                                    for the year ended 30 June 2024

      Note 1. Information about these Financial Statements (continued)                                                                   Note 2. Analysis of Results by Function
                                                                                                                                         §Note/Subtotal§
                                                                                                                                         §Subnote§




      (d) Estimates and Judgements                                                                                                       (a) Components of Council Functions
      Councils make a number of judgements, estimates and assumptions in preparing these financial statements. These are based
      on the best information available to Council at the time, however due to the passage of time, these assumptions may change         Details relating to the Council's functions / activities as reported in Note 2(b) are as follows:
      and therefore the recorded balances may not reflect the final outcomes. The significant judgements, estimates and assumptions
      relate to the following items and specific information is provided in the relevant note:                                           CEO OFFICE

        •   Revenue Recognition - Note 3                                                                                                 The goal of the Chief Executive Officer function is to provide leadership to the organisation to ensure it meets its strategic and
        •   Expected Loss Provision (Receivables) - Note 11                                                                              operational objectives As well as providing effective governance oversight, human resource management and communication
        •   Valuation of Investment Property - Note 15                                                                                   and community engagement processes. Service areas include the Office of the CEO & Mayor, Community Engagement,
        •   Valuation and Depreciation of Property, Plant and Equipment - Note 15                                                        Corporate Reporting & Performance,Governance and Internal Audit as well as People and Culture.
        •   Contract Balances - Note 17
        •   Provisions - Note 21                                                                                                         COMMUNITY SERVICES
        •   Contingent Liabilities - Note 25
                                                                                                                                         The Community Service department's goal is to provide facilities and opportunities for residents and visitors to participate in
      (e) Rounding and Comparatives                                                                                                      community, cultural and recreational activities across the shire; deliver exceptional customer experiences; and assist
                                                                                                                                         community groups and organisations through the provision of advice and community grants. Service areas include Cemeteries,
      The financial statements are in Australian dollars and have been rounded to the nearest $1,000, unless otherwise stated.           Community Development, Customer Service, Cooroy and Noosaville Libraries, Noosa Aquatic Centre, Noosa Seniors, Noosa
                                                                                                                                         Leisure Centre, Noosa Regional Gallery and the J event centre.
      Comparative information is generally restated for reclassifications, errors and changes in accounting policies unless permitted
      otherwise by transition rules in a new Accounting Standard. Comparative information is prepared on the same basis as prior         CORPORATE SERVICES
      year.
                                                                                                                                         The goal of the Corporate Services department is to provide effective support to the organisation to ensure that Council
      (f) Volunteer Services                                                                                                             services are provided in accordance with agreed service levels that ensure Council's ongoing sustainability. Service areas
                                                                                                                                         include Financial Services, Information Communication Technology, Procurement and Fleet, as well as Revenue Services.
      Council currently utilises volunteer resources at Noosa Community Support Centre, Noosaville & Cooroy Libraries, Noosa
      Botanic Gardens, Noosa Bushland Care and Noosa Gallery.                                                                            DEVELOPMENT & REGULATION
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      Council has not recognised the value of volunteer services in these financial statements as the value donated cannot be reliably   The goal of the Development & Regulation department is to provide effective planning and development compliance that
      measured at this time. Furthermore, if these volunteer services had not been donated they would not have been procured.            maintain the liveability of the region and promote long-term sustainable outcomes for the Noosa community as well as
                                                                                                                                         protecting the health and safety of the Noosa Community . Service areas include Building and Plumbing Services, Development
      (g) Taxation                                                                                                                       Assessment, Property and Facilities, Environmental Health and Local Laws.

      Council is exempt from income tax, however Council is subject to Fringe Benefits Tax, Goods and Services Tax (‘GST’) and           INFRASTRUCTURE SERVICES
      payroll tax on certain activities. The net amount of GST recoverable from the ATO or payable to the ATO is shown as an
      asset or liability respectively.                                                                                                   The goal of the Infrastructure Services department is to provide efficient planning, maintenance and delivery of infrastructure
                                                                                                                                         over its lifecycle as well as providing waste management services to the community. The department operates and maintains
                                                                                                                                         infrastructure including roads and bridges, buildings, canals, parks, stormwater drainage, waterways and beaches in the Noosa
                                                                                                                                         Shire in accordance with established service levels. Service areas include Asset Management, Council Buildings and Facilities,
                                                                                                                                         Civil Operations, Infrastructure Planning, Design and Delivery and Waste Management.

                                                                                                                                         STRATEGY & ENVIRONMENT

                                                                                                                                         The goal of the Strategy and Environment department is to lead the strategy and sustainability agenda for the organisation,
                                                                                                                                         driving collaboration and innovation in sustainability and strategy development ensuring environmental, economic, social and
                                                                                                                                         cultural outcomes that meet our current and future community needs. Service areas include Economic Development,
                                                                                                                                         Environmental Services, Innovation & Digital Hub and Strategic Land Use Planning and Sustainability.




                                                                                                                                                                                                                                                                              Noosa Council Annual Report 23/24
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