Annual Report 2023-24

      Where was the                                                                                                           Operating revenue




                                                                                                                                                                                                                                                     Financial Performance
      budget spent?                                                                                                           – where the money came from
      Council spends significant amounts of ratepayer funds providing a range of services to the Noosa community.
      A summary of the cost of the services for our major service areas is provided in Figure 2. Spending on these
      services (including roads, bridges, parks, community facilities and waste management) makes up a significant            Throughout the financial year, Council received a total        rates such as the environment levy as well as other
      component of Council’s annual budget.                                                                                   of $132.1 million in operating revenues (rates, fees,          separate rates and special charges.
                                                                                                                              operating grants), $59.6 million in capital revenues         — Fees and charges include a range of regulatory fees
      Figure 2                                                                                                                (developer contributions, capital grants) and $6.5 million     and charges as well as revenue from commercial
      Operating Cost of Core Council Services 2023/24 ($’000)                                                                 recorded as revenue from Council’s share of investment         operations such as holiday parks and waste
                                                                                                                              in Unitywater.                                                 management.
         $35,000                                                                                                                                                                           — Interest revenue includes the return from the
         $30,000
                                                                                                                              Figure 4 outlines the sources of Council’s operating           investment of available cash.
                                                                                                                              revenues including Unitywater distributions received         — Revenue from other income includes tax payments
         $25,000
                                                                                                                              in 2023/24.                                                    from Council’s shareholding in Unitywater.
         $20,000

         $15,000
                                                                                                                              Key Council revenue sources include:
                                                                                                                              — Rates and utility charges comprising general rates,
         $10,000
                                                                                                                                charges for waste collection and disposal, special
          $5,000

             $0                                                                                                                  Figure 4
                                                                                                                                 Operating Revenue Sources 2023/24
190                                                                                                                                                                                                                                                  191

                                                                                                                                                                                              2% Other Income



                                                                                                                                                                                                                19% Fees & Charges


      Statement of
      Comprehensive Income
      This statement (also known as the profit and loss)        Figure 3
                                                                                                                                                                                                                             5% Interest Revenue
      measures how Council performed financially in relation    Council Net Result Financial Performance 2023/24 ($’000)
      to funding its operations during the financial year. In
      simple terms, it summarises how much money was                                            2022/23       2023/24                                                                                                        3% Grants & Other
      received by Council and how much was spent in a                                            ($’000)       ($’000)                                                                                                          Revenue

      particular year. Figure 3 summarises Council’s 2023/24
                                                                   Revenue                        151,193      198,244
      financial performance.                                                                                                                                                                                              7% Unitywater




                                                                                                                                                                                                                                                     Noosa Council Annual Report 23/24
                                                                                                                               64% Rates & Utility Charges
                                                                   Expenses                      134,430        151,422
      The 2023/24 net result of $46.8 million includes non-
      operational items such as revenue received specifically      Net Result                      16,763       46,822
      to fund capital expenditure (including grants and
      subsidies and developer contributions), Council’s         The removal of $39.4 million of non-operational items
      share of Unitywater’s annual profit and movements         shows Council’s actual operating deficit to be $7.4 million   The above breakdown in operating revenue confirms that Council continues to have significant control over the
      in investment property valuations.                        (including the equity share of profit in Unitywater).         majority of its income sources, and as a result is not reliant on other levels of government or external agencies to
                                                                                                                              maintain its financial independence.