Annual Report 2014-15

NOOSA SHIRE COUNCIL
    Notes to the financial statements
    For the year ended 30 June 2015
                                                                                                                      2014
                                                                                                    2015            (6 months}
       ,                                                                                Note          $                 $
     9  Cash assets and cash equivalents                                               1.8
            Cash at bank and on hand                                                                   175,276            77,994
            Deposits at call                                                                        34,715,898        31,045,060
            Term deposits                                                                           16,000,000            a
            Less QTC working capital loan facility                                                        -            (2,230,042)
            Total cash and cash equivalents per cash flow statement                                 50,891,174        28,893,012

                 Externally imposed expenditure restrictions at the reporting date relate to the following assets:
                 Unspent levy funds                                                                  6,247,670         4,202,197
                 Unspent developer contributions                                                     3,222,716         2,356,092
                 Unspent government grants and subsidies                                               416,220            38,926
                 Unspent carbon tax                                                                    635,000           223,000
                 Unspent loan monies                                                                      -              128,138
                 internally imposed expenditure restrictions at the reporting date relate to the following assets:
                 Natural Disaster Rehabilitation                                                     2,249,000         3,776,581
               . Plant Replacement                                                                        -                 -
                 Future asset replacement                                                            5,335,180         5,335,180
                Waste Management                                                                     3,466,035         2,594,694
                 Specific purpose recurrent                                                          2,202,431         1,978,395
                 Total unspent restricted cash held in reserves                                     23,474,251        20,633,203
            Cash and deposits at call are held in the Commonwealth Bank in a normal                        .
            business cheque account. On call accounts are also held with QTC.
            Deposits at call earned fixed interest over varying terms at interest rates of
            between 2.8% and 3.19%.

     10 Trade and other receivables                                                    1.9
            {a) Current
                 Rateable revenue and utility charges                                                4,165,668         4,159,585
                 Fees and charges                                                                      806,010         1,016,774
                 GST recoverable                                                                       457,957           339,407
                 Other debtors                                                                            -                 -
                 Inter-entity balance with SCRC                                                           -           10,501,227
                                                                                                     §,429,635        16,016,992
                 Prepayments                                                                           646,006      ~    411,901
                Accrued Revenue                                                                      2,451,255         2,377,385
                                                                                                     8,526,896        18,806,279
            (b) Non-current
                 Loans and advances to associates                                      1.11         49,217,517        49,217,517
                                                    .                                               49,217,517        49,217,517.
            Interest is charged on outstanding rates at a rate of 11% per annum. No interest
            is charged on other debtors. There is no concentration of credit risk for rates and              ;
          . utility charges, fees and other debtors receivable.
;           A new loan agreement for the subordinated debt was executed on the 21 June
            2013. The new interest only loan structure terminates on the 30 June 2033 with
            the interest rate set by QTC annually. Applicable interest rate for 2015 was
            5.47% (2014 5.38%).
     11 Equity investments
        Details of the associate is as follow.

                                                                 Pace 18