2022-11-14 GC Agenda - Item 5 - Attachment 1 - Annual Report 2021-22

Noosa Council
Statement of Comprehensive Income
for the year ended 30 June 2022
§Statement§




                                                                                                                                 Restated
$ '000                                                                                      Notes                 2022              2021

Income
Revenue
Recurrent Revenue
Rates, Levies and Charges                                                                     3a                74,580              69,168
Fees and Charges                                                                              3b                 8,979               7,504
Sales Revenue                                                                                 3c                12,970              11,557
Grants, Subsidies, Contributions and Donations                                                3d                 9,038               6,107
Total Recurrent Revenue                                                                                       105,567              94,336
Capital Revenue
Grants, Subsidies, Contributions and Donations                                                3d                15,355              13,177
Total Capital Revenue                                                                                          15,355              13,177
Other Income
Rental Income                                                                                                     1,810               1,365
Interest and Investment Revenue                                                               4a                  2,813               3,021
Equity share of profit in Associate through Participation Rights                              13                  6,508               5,556
Other Income                                                                                  4                   2,923               2,952
Capital Income                                                                                5                     400                   –
Total Other Income                                                                                             14,454              12,894

Total Income                                                                                                  135,376             120,407

Expenses
Recurrent Expenses
Employee Benefits                                                                             6                 37,652              35,932
Materials and Services                                                                        7                 50,491              44,300
Finance Costs                                                                                 8                  8,699               4,827
Depreciation and Amortisation:
- Property, Plant and Equipment                                                               15                17,854              16,978
- Intangible Assets                                                                           16                    50                  55
- Right of Use Assets                                                                         18                    25                  49
Total Recurrent Expenses                                                                                      114,771             102,141
Other Expenses
Capital Expenses                                                                              9                   2,645               4,800
Total Other Expenses                                                                                             2,645               4,800

Total Expenses                                                                                                117,416             106,941

Net Result                                                                                                    17,960              13,466

Other Comprehensive Income
Items that will not be reclassified to Net Result
Increase in Asset Revaluation Surplus                                                       23,15              213,281              21,949
Total Other Comprehensive Income for the year                                                                 213,281              21,949

Total Comprehensive Income for the year                                                                      231,241              35,415
The comparatives have been restated following the IFRIC decision clarifying the capitalisation of costs relating to Software as a Service
(SaaS). Further details on the impact of this change are outlined in Note 28.

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




                                                                                                                                Page 3 of 62