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

NOOSA SHIRE COUNCIL

Statement of Comprehensive Income
For the year ended 30 June 2015
                                                                                                                                   2014
                                                                                                                   2015         (6 months)
                                                                                                      Note           $               $
Income
    Revenue
       Recurrent revenue
           Rates and charges                                                                         3 (a)        59,388,212      30,470,848
           Sale of goods and major services                                                          3 (b)         7,237,712       3,267,009
           Fees and charges                                                                          3 (c)         4,942,952       2,162,005
           Rental and levies                                                                                       1,130,479         481,667
           Interest received                                                                         3 (d)         5,006,206       2,520,125
           Sales of contract and recoverable works                                                                   155,170          76,857
           Other recurrent income                                                                    3 (e)         2,106,355         598,920
           Grants, subsidies, contributions and donations                                            4 (i)         5,068,440       1,890,879
           Total recurrent revenue                                                                                85,035,526      41,468,310

         Capital revenue
            Grants, subsidies, contributions and donations                                           4 (ii)        6,278,627       2,358,968
                                                                                                                   6,278,627       2,358,968
         Total revenue                                                                                            91,314,153      43,827,278

         Capital income                                                                                              604,515           7,228
                                                                                                                  91,918,668      43,834,506
    Net gain on restructure of local government                                                      5                  -        972,198,129
    Equity share of profit (loss) in investment in associate through participation rights            11            5,112,835        1,942,760
Total income                                                                                                      97,031,503    1,017,975,395

Expenses
    Recurrent expenses
        Employee benefits                                                                            6           (26,125,135)     (18,264,226)
        Materials and services                                                                       7           (33,729,424)     (16,755,448)
        Finance costs                                                                                             (2,526,815)      (1,359,476)
        Depreciation and amortisation                                                                8           (15,919,507)      (7,779,655)
        Total recurrent expenses                                                                                 (78,300,881)     (44,158,806)
    Capital expenses
        Other capital expenses                                                                                      (900,880)       (315,945)
Total expenses                                                                                                   (79,201,761)    (44,474,751)
Net result                                                                                                        17,829,742     973,500,645
  Other comprehensive income
    Items that will not be reclassified to net result
        Increase in asset revaluation surplus                                                        19           14,334,107             -
  Total other comprehensive income                                                                                14,334,107             -

Total comprehensive income for the period                                                                         32,163,849     973,500,645


The above statement should be read in conjunction with the accompanying notes and Summary of Significant Accounting Policies.




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