Annual Report 2019-20

Noosa Shire Council

Statement of Changes in Equity
for the year ended 30 June 2020
Council                                                                                       Asset
                                                                                       Revaluation           Retained             Total
                                                                                            Surplus           Surplus            Equity
                                                                           Notes              $'000             $'000             $'000


 2020
Balance as at 1 July 2019                                                                   50,809           991,767        1,042,576
Correction of prior period errors                                                                -             3,019            3,019
Adjustment on initial application of AASB 15 / AASB 1058                                           -           (2,500)          (2,500)
Restated Balance as at 1 July 2019                                                         50,809          992,286         1,043,095

Net Result for the Year                                                                            -          10,988            10,988

Other Comprehensive Income for the year
 - Increase/(Decrease) in Asset Revaluation Surplus                          14             35,715                   -          35,715
Other Comprehensive Income                                                                  35,715                   -          35,715

Total Comprehensive Income for the year                                                    35,715            10,988            46,703


Balance as at 30 June 2020                                                                86,524        1,003,274        1,089,798


Council                                                                                       Asset
                                                                                       Revaluation           Retained             Total
                                                                                            Surplus           Surplus            Equity
                                                                           Notes              $'000             $'000             $'000


 2019
Balance as at 1 July 2018                                                                   41,739           974,285        1,016,024
Adjustment on initial application of AASB 9                                                      -                (3)              (3)
Restated Balance at 1 July 2018                                                            41,739          974,282         1,016,021

Net Result for the Year                                                                            -          17,485            17,485

Other Comprehensive Income
 - Increase/(Decrease) in Asset Revaluation Surplus                          14               9,070                  -           9,070
Other Comprehensive Income                                                                    9,070                  -           9,070

Total Comprehensive Income for the year                                                      9,070           17,485            26,555


Balance as at 30 June 2019                                                                50,809          991,767        1,042,576




The comparatives have not been restated on adoption of AASB 15 / 1058 and AASB 16 and therefore the comparative information is presented
using the previous standards relating to revenue and leases.



The above statement should be read in conjunction with the accompanying Notes and Significant Accounting Policies.                 page 4