Annual Report 2014-15

NOOSA SHIRE COUNCIL

Notes to the financial statements
For the year ended 30 June 2015
                                                                                                         2014
                                                                                        2015          (6 months)
                                                                             Note         $                $
         The QTC loan market value at the reporting date was $44,938,354.70
         This represents the value of the debt if Council repaid it at that date.
         As itis the intention of Council to hold the debt for its term, no
         provision is required to be made in these accounts.
         No assets have been pledged as security by the council for any                                                   ,
         liabilities,
         Borrowings are all in $A and are underwritten by the Queensland State
         Government.
 19 (i} Asset revaluation surplus
         Balance at the beginning of financial year                                           -               -
            Buildings                                                                   5,638,455             -
             Storm Water                                                                8,695,652             =
         Balance at end of the financial year                                          14,334,107             -
 20 Commitments for expenditure
         Operating leases
             Minimum iease payments in relation to non-cancellable operating
             leases are as follows:
                 Within one year                                                          330,919          658,948
                 Later than 1 year but not later than 5 years                              33,726          333,285
                 Later than 5 years                                                          -                -
                                                                                          364,645          992,233
         Operating leases are entered into for motor vehicles and IT equipment.
         Lease payments are generally fixed, but with inflation clauses on
         which future rentals are determined.

         Contractual Commitments                                                                .
             Contractual commitments at balance date but not recognised
             in the financial statements are as follows:
                 Within one year                                                       13,496,071        5,162,500
                 One to five years                                                     13,192,800        1,671,416
                 Later than five years                                                       -                -
                                                                                       26,688,871        6,833,916
         Capital Commitments
             Commitment for the construction of the following assets
             contracted for at the reporting date but not recognised as liabilities
             are as follows:
                 Roads, Bridges and Stormwater                                          6,395,227          510,800
                 Pathways                                                                 217,581          514,500
                 Other                                                                  6,612,808          238,700
                                                                                        8,059,208        1,264,000
             These expenditures are payable :
                 Within one year                         ,                              8,059,208        1,264,000
                 Later than 1 year but not later than 5 years                                -                -
                 Later than 5 years                                                          -                -
                                                                                        8,059,208        1,264,000
 21 Events after balance date
         There were no material financial adjusting events after balance date,

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