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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 8. Finance Costs
§Subnote§
$ '000 Notes 2022 2021
Finance Costs - Queensland Treasury Corporation 20 527 3,458
Bank Charges 147 138
Impairment of Receivables 7 (8)
Interest on Leases 18 2 3
Landfill Restoration 21 8,016 1,236
Total Finance Costs 8,699 4,827
In the 2020/21 financial year Council elected to refinance its existing QTC debt pool under the Local Government Debt
Refinancing Program. As a result, an early repayment adjustment of $2.5 million reflecting the difference between the book
value and the market value of the debt was incurred.
Note 9. Capital Expenses
§Note§
§Subnote§
$ '000 Notes 2022 2021
(a) Revaluation Decrement
Downwards Revaluation of Investment Property 14 – 100
– 100
§Subnote§
(b) Other Capital Expenses
Loss on Write-off of Assets 2,645 4,700
2,645 4,700
§Subnote§
Total Capital Expenses 2,645 4,800
Note 10. Cash, Cash Equivalents and Financial Assets
§Note§
§Subnote§
$ '000 2022 2021
Cash and cash equivalents in the statement of cash flows include cash on hand, all cash and cheques receipted but not banked
at the year end, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities
of three months or less that are readily convertible to cash and which are subject to an insignificant risk of changes in value.
Cash and Cash Equivalents
Cash at Bank and On Hand 1,484 1,237
Deposits at Call 97,017 68,791
Balance per Statement of Financial Position 98,501 70,028
Balance per Statement of Cashflows 98,501 70,028
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