Annual Report 2019-20

Noosa Shire Council

Notes to the Financial Statements
for the year ended 30 June 2020

Note 18. Leases (continued)
                                                                                                2020               2019
                                                                                 Notes          $'000              $'000


The table below shows the maturity analysis of the Lease Liabilities based on contractual cashflows and therefore
the amounts will not be the same as the recognised lease liability in the Statement of Financial Position.

                                                                                                               Total per
                                                                                                           Statement of
                                                                                                               Financial
                                                 < 1 year    1 to 5 years      > 5 years          Total         Position
                                                   $'000           $'000          $'000           $'000             $'000


 2020
Buildings                                           23              18                -           41                 41
Land                                                23              87                -          110                104
IT & Office Equipment                               10              10                -           20                 19
                                                    56            115                -           171               163

Future Cash Outflows not reflected in the measurement of Lease Liabilities

The lease liability relating to building includes all annual fixed rate increases for the term of the lease plus
one x 1 year extention. It does not include any provision for outgoings, make good costs or an allowance for
the remaining one x 1 year extension option.

The slipway lease liability has been calulcated based on the current 3 years average rental value at 6%, no
adjustment has been included for movement in the rental value over the remainder of the lease term. No allowance
has been included for restoration costs that may be incurred at the end of the lease. The lease also contains
various restrictions and conditions about what the site can be used for.

IT and Office equipment lease payments are generally fixed for the term of the arrangement and are not subject to
any residual values at the end of the lease.

Amounts included in the Statement of Comprehensive Income related to Leases

The following amounts have been recognised in the Statement of Comprehensive Income for Leases where Council
is the lessee.
Income
Sub-leasing Right-of-Use Assets                                                                      -

Expenses
Depreciation of Right-of-Use Assets                                                               54
Interest Expense on Lease Liabilites                                                               5
Expenses relating to Low-value Assets                                                            212
Net Expense relating to Leases                                                                   271

Total Cash Inflows/(Outflows) for Leases                                                         268




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