Annual Report 2023-24

      Operating expenditure                                                                                                   Statement of




                                                                                                                                                                                                                                                    Financial Performance
      – where the money goes                                                                                                  Financial Position
      Council expended a total of $131.2 million in undertaking operating activities during the financial year.               The Statement of Financial Position (or balance sheet) measures what Council owns (i.e. its assets), and
                                                                                                                              what we owe (i.e. liabilities) to determine the total community equity (net worth) at the end of each financial
      Figure 5 presents a breakdown by expenditure type for operating expenditure incurred during 2023/24.                    year. Overall, Council’s investment in community capital continues to grow steadily.


      Figure 5                                                                                                                Figure 6 summarises the movement in Council’s assets and liabilities that comprise community equity.
      Operating Expenses by Function 2023/24
                                                                                                                              Figure 6
                                                                           1% Finance & Other Costs
                                                                                                                              Comparative Statement of Financial Position 2023/24 ($’000)


                                                                                                                                                                         2022/23      2023/24
                                                                                               17% Depreciation
                                                                                                                                                                          ($’000)      ($’000)

                                                                                                                                  Assets                                  1,497,225   1,524,567

                                                                                                                                  Liabilities                               117,792     116,821

                                                                                                                                  Community Equity                       1,379,433    1,407,746



                                                                                                                              Figure 7 shows Council’s cash and debt holdings (including investments) as at 30 June 2024 compared to
192                                                                                                                           the previous year.                                                                                                    193



        46% Materials & Services                                                                                              Cash levels are high due to the advance payment of multi-year waste levy subsidies, increased capital
                                                                                                                              grant funding and the timing of capital works projects. Debt levels have remained consistent as Council
                                                                                                      36% Employee Benefits   continues to strengthen its debt position. Overall, our net cash position (i.e. cash less debt) continues to be
                                                                                                                              strong with an increase of $10.9 million year on year.


                                                                                                                              Figure 7
                                                                                                                              Cash and Debt Comparison 2023/24 ($’000)

      Key Council expenditure sources include:
                                                                                                                              $140,000
      — Employee benefits - includes staff wages, superannuation, fees paid to Councillors and other
        employment costs.                                                                                                     $120,000

      — Depreciation expenditure – records the consumption of community infrastructure assets over
        their respective useful lives and provides an indication of the level of required expenditure on the                  $100,000

        rehabilitation and renewal of existing assets annually. The revaluation of infrastructure assets during




                                                                                                                                                                                                                                                    Noosa Council Annual Report 23/24
                                                                                                                              $80,000
        the year has also impacted the annual depreciation charge.
      — Materials and services – includes information communication technology, consultancy services,                       $60,000
        contractor services, electricity, external hire, rentals, repairs and maintenance, and advertising and
        donations.                                                                                                            $40,000

      — Finance and other costs – include interest paid on loan borrowings, bank charges and movements
                                                                                                                              $20,000
        in the provision for future landfill rehabilitation costs.

                                                                                                                                   $0
                                                                                                                                                Cash (inc Investments)                     Debt                 2022/23 ($,000)   2023/24 ($,000)