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2022-11-14 GC Agenda - Item 5 - Attachment 1 - Annual Report 2021-22
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Noosa Council
Notes to the Financial Statements
for the year ended 30 June 2022
Note 3. Revenue (continued)
§Note/Subtotal§
(iii) Timing of Revenue Recognition for Grants, Subsidies, Contributions and Donations
2022 2021
Revenue Revenue
recognised Revenue recognised Revenue
at a point in recognised at a point in recognised
$ '000 time over time time over time
Grants and Subsidies 6,818 14,718 4,307 10,712
Donations 3 – 13 –
Contributions 2,854 – 4,252 –
9,675 14,718 8,572 10,712
Note 4. Interest and Other income
§Note§
§Subnote§
$ '000 2022 2021
(a) Interest and Investment Revenue
Interest received from financial institutions and term deposits is accrued over the term of the investment.
Interest from Financial Institutions and Term Deposits 414 421
Interest from Overdue Rates and Utility Charges 381 380
Loan to Unitywater 2,018 2,220
Total Interest and Investment Revenue 2,813 3,021
§Subnote§
(b) Other Income
Dividends are recognised when they are declared.
Unitywater Income Tax Equivalent Received 1,913 1,936
Other 1,010 1,016
Total Other Income 2,923 2,952
Note 5. Capital Income
§Note§
§Subnote§
$ '000 Notes 2022 2021
Revaluations
Revaluation Increment relating to Investment Property 14 400 –
400 –
Total Capital Income 400 –
Page 14 of 62
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