Annual Report 2016-17

                                                                                         Financial Statements 2017



Noosa Shire Council

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

Note 20. Superannuation (continued)



The most recent actuarial assessment of the scheme was undertaken as at 1 July 2015. The actuary indicated
that "At the valuation date of 1 July 2015, the net assets of the scheme exceeded the vested benefits and the
scheme was in a satisfactory financial position as at the valuation date."

In the 2015 actuarial report the actuary has recommended no change to the employer contribution levels at this
time.

Under the Local Government Act 2009, the trustee of the scheme has the power.to levy additional contributions
on councils which have employees in the Regional DBF when the actuary advises such additional contributions
are payable- normally when the assets of the DBF are insufficient to meet members' benefits.

There are currently 65 entities contributing to the Regional DBF plan and any changes in contribution rates would
apply equally to all 65 entities. Noosa Shire Council made less than 4% ( 4% 2016) of the total contributions
to the plan in the 2016-17 financial year.

The next actuarial investigation will be made no later than 1 July 2018.

                                                                                               2017              2016
                                                                                Nctes          $'000             $'000

The amount of Superannuation Contributions paid by Council to the Scheme
in this Period for the benefit of employees was:                                              2,943            2,805



Note 21. Operating Lease Income

The Council has leased properties to various tenants under commercial
lease arrangements.

The minimum lease receipts are as follows:
Not later than one year                                                                         357                  363
One to five years                                                                               484                  817
Later than five years
                                                                                                841            1'180




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