Annual Report 2019-20

                                                                                                                                                                                                2019 - 20 Annual Report

  Operating revenue – where the money came from                                                             Statement of Financial Position
  Throughout the financial year, Council received     Figure 4 – Operating Revenue Sources 2019/20          The Statement of Financial Position (or balance sheet) measures what Council owns (i.e. its assets), and
  a total of $97.2 million in operating revenues                                                            what we owe (i.e. liabilities) to determine the total community equity (net worth) at the end of each financial
  (rates, fees, operating grants), $8.4 million in                                                          year. Overall, Council’s investment in community capital continues to grow steadily.
  capital revenues (developer contributions,
  capital grants) and $6.1 million recorded as                                                              Figure 6 summarises the movement in Council’s              Figure 7 shows Council’s cash and debt holdings
  revenue from Council’s share of investment in                                                             assets and liabilities that comprise community             as at 30 June 2020 compared to the previous
  Unitywater.                                                                                               equity.                                                    year. Cash levels have increased despite the
                                                                                                                                                                       impacts of the COVID-19 pandemic and
  Figure 4 outlines the sources of Council’s $97.2                                                          Figure 6 – Comparative Statement of Financial              Council’s delivery of a large capital program.
  million in operating revenue received in 2019/20.                                                         Position 2019/20 ($’000)                                   Debt levels decreased as Council continues to
                                                                                                                                                                       minimise its debt position. Overall, our net cash
  Key Council revenue sources include:                                                                                                  2018/19          2019/20       position (i.e. cash less debt) still actually
                                                                                                                                         ($’000)          ($’000)      increased by $3.7 million during the year.
     Rates and utility charges comprising general
                                                                                                             Assets                   1,095,611         1,146,785
      rates, charges for waste collection and                                                                                                                          Figure 7 – Cash and Debt Comparison 2018/19
      disposal, special rates such as the tourism                                                                                                                      ($’000)
                                                                                                             Liabilities                  53,035          56,987
      and economic levy as well as other separate
      rates and special charges.                                                                             Community
                                                      The above breakdown in operating revenue                                        1,042,576         1,089,798
     Fees and charges include a range of             confirms that Council continues to have                Equity
      regulatory fees and charges as well as          significant control over the majority of its income
      revenue from commercial operations such         sources, and as a result is not reliant on other
      as holiday parks and waste management.          levels of government or external agencies to
     Interest revenue includes the return from the   maintain its financial independence.
      investment of available cash.
     Revenue from other income includes tax
      payments from Council’s shareholding in
      Unitywater                                                                                            Assets – what we own
  Operating expenditure – where the money goes                                                              Current assets are represented by cash,
                                                                                                            investments, inventories and receivables
                                                                                                                                                                       Figure 8 – Non-Current Assets and Community
                                                                                                                                                                       Infrastructure 2019/20 ($’000)
  Council expended a total of $96.6 million in        Key Council expenditure sources include:              (money owed to Council). Council’s current
  undertaking operating activities during the                                                               assets as at 30 June 2020 equated to $69.0
                                                         Employee benefits - includes staff wages,
  financial year.                                                                                           million.
                                                          superannuation, fees paid to Councillors and
                                                          other employment costs.
  Figure 5 presents a breakdown by expenditure                                                              Non-current assets of over $1 billion includes
  type for operating expenditure incurred during         Depreciation expenditure – records the            property, plant and equipment totalling $929
  2019/20.                                                consumption of community infrastructure           million, as well as the value of Council’s
                                                          assets over their respective useful lives and     investment in Unitywater. Property, Plant and
  Figure 5 – Operating Expenses by Function 2019/20       provides an indication of the level of required   Equipment represents community infrastructure
                                                          expenditure on the rehabilitation and             which includes roads, bridges, stormwater,
                                                          renewal of existing assets annually. The          buildings, land and other operational assets
                                                          revaluation of infrastructure assets during       owned and controlled by Council.
                                                          the year has also impacted the annual
                                                          depreciation charge.                              The main non-current asset categories and their
                                                         Materials and services – include information      respective values are shown in the Figure 8.
                                                          communication technology, consultancy
                                                          services, contractor services, electricity,
                                                          external   hire,   rentals,   repairs   and       Liabilities – what we owe
                                                          maintenance,     and     advertising    and
                                                                                                            Money owed by Council is presented as both current and non-current liabilities in the statement of
                                                          donations.
                                                                                                            financial position. Current liabilities are those amounts that are payable by Council within the next twelve
                                                         Finance and other costs – include interest        months, and non-current liabilities are payable beyond the twelve month horizon.
                                                          paid on loan borrowings, fees associated
                                                          with the early repayment of borrowings and        The most significant element is loans raised by Council to fund the investment in community
                                                          movement in the provision for future landfill     infrastructure. Council’s total loan borrowings continued to reduce in 2019/20 as no new loans were drawn
                                                          rehabilitation costs.                             down and the standard annual loan repayment schedule was met

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  Noosa Council | Annual Report 2019 – 2020                                                        Page 4   Noosa Council | Annual Report 2019 – 2020                                                                Page 5