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 6. Employee Benefits                                                                                                        Note 8. Finance Costs
      §Note/Subtotal§                                                                                                                  §Note/Subtotal§
      §Subnote§                                                                                                                        §Subnote§




                                                                                                                                       $ '000                                                                                                     2024                 2023
      §Total§




      $ '000                                                                          Notes               2024              2023                                                                                             Notes


      Employee Benefit expenses are recorded when the service has been provided by the employee.                                       Finance Costs - Queensland Treasury Corporation                                         20                   670                 697
      Wages and Salaries                                                                         35,427                    31,361      Bank Charges                                                                                                 160                 152
      Councillors Remuneration                                                                      603                       584      Impairment of Receivables                                                                                     21                  15
      Annual, Sick and Long Service Leave Entitlements                                            6,466                     5,473      Interest on Leases                                                                      18                     6                   2
      Superannuation                                                              26              4,621                     4,091      Landfill Restoration                                                                    21                   529               8,799
                                                                                                 47,117                    41,509      Total Finance Costs                                                                                      1,386                9,665
      Other Employee Related Expenses                                                                    2,728              1,915
                                                                                                        49,845             43,424
                                                                                                                                       Note 9. Capital Expenses
                                                                                                                                       §Note§




      Less: Capitalised Employee Expenses                                                               (2,480)           (2,395)
      Total Employee Benefits                                                                         47,365             41,029
                                                                                                                                       §Subnote§




                                                                                                                                       $ '000                                                                                Notes                2024                 2023
      Councillor Remuneration represents salary, and other allowances paid in respect of carrying out their duties.                    (a) Revaluation Decrement

                                                                                                                                       Downwards revaluation of Investment Property                                            14                   250                    –
                                                                                                                                                                                                                                                   250                     –
      §Total§




                                                                                                          2024              2023
                                                                                                           FTE               FTE

      Total Council Employees at the reporting date:
                                                                                                                                       (b) Other Capital Expenses
                                                                                                                                       §Subnote§




      Elected Members                                                                                        7                  7
      Administration Staff                                                                                 326                316      Loss on write-off of Assets                                                                              19,916                8,974
      Depot and Outdoors Staff                                                                             112                109
218
                                                                                                                                                                                                                                                19,916                8,974      219
      Total Full Time Equivalent Employees                                                                 445                432

                                                                                                                                       §Subnote§




      Note 7. Materials and Services                                                                                                   Total Capital Expenses                                                                                  20,166                8,974
      §Note§




      §Subnote§




      $ '000                                                                                              2024              2023
                                                                                                                                       Note 10. Cash, Cash Equivalents and Investments
                                                                                                                                       §Note§




      Expenses are recorded on an accruals basis as Council receives the goods or services.
      Administration Supplies and Consumables                                                              786                725
                                                                                                                                       §Subnote§




                                                                                                                                       $ '000                                                                                                     2024                 2023
      Audit Services *                                                                                     200                249
      Communications, IT equipment maintenance & Software                                                3,745              3,105      Cash and cash equivalents in the statement of cash flows include cash on hand, all cash and cheques receipted but not banked
      Consultancy Services                                                                               1,660              1,749      at the year end, deposits held at call with financial institutions, other short-term, highly liquid investments with initial maturities
      Contract Services*                                                                                28,729             27,379      of three months or less that are readily convertible to cash and which are subject to an insignificant risk of changes in value.
      Commission Paid                                                                                    1,706              1,733
      Donations, Contributions and Prizes                                                                4,004              3,919
      Electricity                                                                                                                      Cash and Cash Equivalents
                                                                                                         1,683              1,533
      Fleet Operating Costs                                                                                                            Cash at Bank and On Hand                                                                                  1,578                1,409
                                                                                                         2,219              1,915
      Grants Paid to Community Organisations                                                                                           Deposits at Call                                                                                          3,547               12,879
                                                                                                         1,511              2,244
      Insurance                                                                                                                        Term Deposits                                                                                            71,001               62,219
                                                                                                           845                794
      Legal Expenses                                                                                     3,528              1,274
                                                                                                                                       Balance per Statement of Financial Position                                                              76,126              76,507
      Operating Leases - Rentals                                                                           472                360




                                                                                                                                                                                                                                                                                 Noosa Council Annual Report 23/24
                                                                                                                                       Balance per Statement of Cashflows                                                                       76,126              76,507
      Water and Sewerage Costs                                                                           1,363              1,125
      Other Materials and Services                                                                       8,267              7,102      Investments
      Less: Capitalised Internal Expenses                                                                (383)              (408)      Term Deposits                                                                                            30,000               40,000
      Total Materials and Services                                                                    60,335             54,798        Total Investments                                                                                        30,000              40,000
      Audit fees quoted by the Queensland Audit Office relating to the 2023/24 financial statements were $170,022 (2023: $178,970).
                                                                                                                                       At 30 June 2024, Council had invested $30 million in term deposits with an initial maturity terms greater than 3 months. $25
      Contract Services includes Waste Collection, Roads & Parks maintenance and Lifeguard service contracts.                          million of these investments are due to mature in July 2024 with the balance maturing in April 2025. These investments were
                                                                                                                                       made in accordance with Council's investment of surplus funds policy.


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