Annual Report 2019-20

Noosa Shire Council

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

Note 21. Provisions           (continued)

                                                                                                2020           2019
                                                                                 Notes          $'000          $'000

The provision recognised for the Eumundi Rd landfill sites is reviewed at least annually and updated based on the
facts and circumstances available at the time. Management estimates that the site will fully close in 2070 and that
site restoration will occur progressively over the subsequent thirty years. The provision recognises the costs
associated with closure and rehabilitation of historical and existing cells as well as the rehabilitation of the site
following full closure in 2070.

Quarry Sites
The provision represents the present value of the anticipated future costs associated with the closure of the Ringtail
Creek quarry site, reclamation and rehabilitation of the site.
The calculation of this provision requires assumptions such as application of environmental legislation, site closure
 dates, available technologies and engineering cost estimates. These uncertainties may result in future actual
expenditure differing from amounts currently provided. Because of the long-term nature of the liability, the most
significant uncertainty in estimating the provision is the costs that will be incurred. The provision recognised for
quarry sites rehabilitation is reviewed at least annually and updated based on the facts and circumstances available
at the time.

Current
Annual Leave                                                                                   2,952          2,543
Long Service Leave                                                                             4,630          4,630
Landfill Sites                                                                                     -            288
TOTAL CURRENT PROVISIONS                                                                      7,582           7,461

Non-Current
Long Service Leave                                                                               965            776
Quarry Rehabilitation                                                                             50             50
Landfill Sites                                                                                14,292         10,697
TOTAL NON-CURRENT PROVISIONS                                                                 15,307         11,523

Details of movements in provisions:
Quarry Rehabilitation
Balance at beginning of financial year                                                            50                50
Balance at end of financial year                                                                  50                50

Landfill Sites
Balance at beginning of financial year                                                        10,985          9,353
Increase in provision due to unwinding of discount                                               221            251
Increase/(decrease) in provision due to change in discount rate                                3,086          1,381
Balance at end of financial year                                                              14,292         10,985




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