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

NOOSA SHIRE COUNCIL

Current-year Financial Sustainability Statement
For the year ended 30 June 2015
   Measures of Financial Sustainability
       (i) Operating surplus ratio
                 Operating surplus (Net result excluding all capital items) divided by total operating revenue (excludes capital revenue)
       (ii) Asset sustainability ratio
                 Capital expenditure on the replacement of assets (renewals) divided by depreciation expense.
       (iii) Net financial liabilities ratio
                 Total liabilities less current assets divided by total operating revenue

                      Council's performance at 30 June 2015 against key financial ratios:

                                                         Operating surplus              Asset       Net financial
                                                               ratio                sustainability liabilities ratio
                                                                                        ratio
                                                           between 0% and            greater than     not greater
                    Target
                                                                10%                      90%           than 60%
                    Actual                                     7.92%                   65.10%            1.16%

   Note 1 - Basis of Preparation
       The current year financial sustainability statement is a special purpose statement prepared in accordance with the requirements of
       the Local Government Regulation 2012 and the Financial Management (Sustainability) Guideline 2013 . The amounts used to
       calculate the three reported measures are prepared on an accrual basis and are drawn from the Council's audited general purpose
       financial statements for the year ended 30 June 2015.


                                                                                Certificate of Accuracy
                                                                           For the year ended 30 June 2015

   This current-year financial sustainability statement has been prepared pursuant to Section 178 of the Local Government
   Regulation 2012 (the regulation).
   In accordance with Section 212(5) of the Regulation we certify that this current-year financial sustainability statement
   has been accurately calculated.

    _____________________________________                                          ___________________________________
    Mayor                                                                          Chief Executive Officer

    Name: ..............................................................           Name: ............................................................

    Date: ______/______/______                                                     Date:______/______/_______