2015-10-14 Audit & Risk Committee Meeting - Draft Annual Financial Statements

NOOSA SHIRE COUNCIL

Notes to the financial statements
For the year ended 30 June 2015
                                                                                                        2014
                                                                                         2015        (6 months)

                                                                                Note       $             $

 4       (ii)    Capital - grants, subsidies, and contributions
                  are analysed as follows:
                (a) Monetary revenue designated for capital funding purposes:
                    Commonwealth government grants                                         553,610          -
                    State Government subsidies & grants                                  1,679,628       251,000
                    NDRRA flood grants                                                        -          807,819
                    Contributions                                                        1,607,275     1,300,149
                                                                                         3,840,513     2,358,968

                (b) Non-monetary revenue received is analysed as follows:       1.6(c)
                    Developer assets contributed by developers at fair value             2,438,114           -
                                                                                         2,438,114           -

                Total capital revenue                                                    6,278,627     2,358,968


 5 Gain on restructure of local government
   (a) Net result attributable to Council before net assets transferred from abolished Councils

         Net result attributable to Council                                                    -     972,461,900
         Less:
             Assets and liabilities transferred from abolished councils         13             -     869,620,179
             Accounting policy adjustments                                      5 (b)          -     102,577,950
             Net gain on restructure of local government                                       -     972,198,129

          Net result before gain on restructure of local government                            -        263,771
     (b) Adjustments due to accounting policy alignment
          Property, Plant and Equipment                                                        -     102,577,950

                                                                                               -     102,577,950




                                                                      Page 16