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Annual Report 2019-20
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Noosa Shire Council
Notes to the Financial Statements
for the year ended 30 June 2020
Note 3. Revenue
AASB 15 AASB 1058
2020 2020
Notes $'000 $'000
Revenue recognised at a point in time
Rates, Levies and Charges (excluding those related to services) 3a - 69,237
Fees and Charges 3b 6,229 -
Sale of Goods and Services 3c 8,486 -
Grants, Subsidies, Donations and Contributions 3d - 6,677
14,715 75,914
Revenue recognised over time
Fees and Charges 3b 215 -
Grants and Subsidies 3d 2,423 4,746
2,638 4,746
Total Revenue 17,353 80,660
(a). Rates, Levies and Charges
2020 accounting policy
Rates and annual charges are recognised as revenue when the council obtains control over the assets comprising
these receipts which is the beginning of the rating period to which they relate. Prepaid rates are recognised as a
financial liability until the beginning of the rating period.
The COVID-19 pandemic has impacted Council rates, levies and charges revenue for the 2019/20 financial
year due to a reduction in demand for waste collection services from commercial businesses.
2019 accounting policy
Rates are recognised as revenue at the start of the rating period. If a ratepayer pays their rates before the start of
the rating period, they are recognised as revenue when they are received.
General Rates 51,150 49,740
Separate Rates 6,154 5,691
Special Rates 2,037 1,553
Waste Utility Charges 12,838 12,368
Total Rates and Utility Charge Revenue 72,179 69,352
Less: Discounts (2,148) (2,112)
Less: Pensioner Remissions (794) (787)
TOTAL RATES, LEVIES AND CHARGES 69,237 66,453
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