Annual Report 2016-17

                                                                                             Financial Statements 2017



 Noosa Shire Council

Notes to the Financial Statements
 for the year ended 30 June 2017

Note 18. Commitments for Expenditure (continued)
                                                                                                   2017                2016
                                                                                                   $'000               $'000

(b) Operating Leases (Non Cancellable)

Minimum lease payments in relation to non-cancellable operating
leases are as follows:
Within one year                                                                                     190                  101
One to five years                                                                                    60                   56
Later than five years
                                                                                                    250                157

IT equipment Lease payments are generally fixed, but with inflation clauses on which
future rentals are determined.



(c) Operational Contractual Commitments

Contractual commitments at end of financial year but not recognised in the
financial statements are as follows:
Within one year                                                                                  7,855            14,204
One to five years                                                                               27,961             5,727
Later than five years                                                                            14,2~8
                                                                                               50,054            19,931

Council commenced its new waste collection contract on the 1st September 2017. These amounts
did not form part of the comparatives for 2015/16.




Note 19. Contingent Liabilities

Details and estimates of maximum amounts of contingent liabilities are as follows:

Local Government Mutual
Noosa Shire Council is a member of the local government mutual liability self-insurance pool, LGM Queensland.
In the event of the pool being wound up or it is unable to meet its debts as they fall due, the trust deed and rules
provide that any accumulated deficit will be met by the individual pool members in the same proportion as their
contribution is to the total pool contributions in respect to any year that a deficit arises.

As at 30 June 2016 the financial statements reported an accumulated surplus and it is not anticipated any liability
will arise.




                                                                                                             page 33