Annual Report 2016-17

Noosa Shire Council

Financial Statements
for the year ended 30 June 2017



Table of Contents                                                                 Page

1. Primary Financial Statements:
  Statement of Comprehensive Income                                                 2
  Statement of Financial Position                                                   3
  Statement of Changes in Equity                                                    4
  Statement of Cash Flows                                                           5

2. Notes to the Financial Statements
     1    Summary of Significant Accounting Policies                                6
   2(a)   Council Functions- Component Descriptions                                 8
   2(b)   Council Functions- Analysis of Results by Function                        9
     3    Revenue Analysis                                                         10
     4    Grants, Subsidies, Contributions and Donations                           12
     5    Employee Benefits                                                        13
     6    Materials and Services                                                   13
     7    Depreciation and Amortisation                                            14
     8    Cash and Cash Equivalents                                                14
     9    Trade and Other Receivables                                              15
    10    Investment Property                                                      16
    11    Property, Plant and Equipment                                            17
    12    Fair Value Measurements                                                  21
    13    Intangible Assets                                                        27
    14    Trade and Other Payables                                                 27
    15    Borrowings                                                               28
    16    Provisions                                                               29
    17    Asset Revaluation Surplus                                                31
    18    Commitments for Expenditure                                              32
    19    Contingent Liabilities                                                   33
    20    Superannuation                                                           34
    21    Operating Lease Income                                                   35
   22     Equity Investments                                                       36
   23     Trust Funds                                                              38
          Reconciliation of Net Result for the year to Net Cash
    24                                                                             38
          Inflow (Outflow) from Operating Activities
    25    Restated Balances                                                        39
    26    Events Occurring After Balance Sheet Date                                41
    27    Financial Instruments                                                    41
    28    National Competition Policy                                              46
    29    Transactions with Related Parties                                        47
3. Management Certificate                                                          50

4. Independent Auditor's Report                                                    51

5. Current Year Financial Sustainability Statement                                53
  Certificate of Accuracy- Current Year Financial Sustainability Statement        55
  Independent Auditor's Report- Current Year Financial Sustainability Statement   56

6. Long Term Financial Sustainability Statement                                   58
  Certificate of Accuracy- Long Term Financial Sustainability Statement           60



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