Annual Report 2016-17

                                                                                           Financial Statements 2017



Noosa Shire Council

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

Note 22. Equity Investments



Accounting Recognition:
As at 1 July 201 0 a water distribution and retail business called Unitywater was established in accordance with the
South-East Queensland Water (Distribution and Retail Restructuring) Act 2009 to deliver water and waste water
services to customers within the local government areas of Moreton Bay Regional Council, Sunshine Coast
Regional Council and Noosa Shire Council.
Under the Act, governance arrangements for Unitywater were established in a Participation Agreement which
commenced from 1 July 2010. The agreement provides for participation rights to be held by the participating
Councils. The participating Councils are Noosa Shire Council, Moreton Bay Regional Council and the Sunshine
Coast Regional Council. The Participation Rights effectively represent an investment in an associate by Noosa
Shire Council.


Accounting Recognition:
Investment in Associates are accounted for using the Equity Accounting Method- and are disclosed as a one
line entry in both the Income Statement and Statement of Financial Position.

                                                    Council's Share of Net Income      Council's Share of Net Assets
                                                             2017             2016              2017                 2016
                                                             $'000           $'000             $~00                $~00
   Investment in Associate                                   5,?59           5,793            76,515             72,324
   Total                                                     5,759           5,793            76,515             72,324



Associates
Council has incorporated the following Associate into its Financial Statements.

(a} Net Carrying Amounts -Council's Share
                                              Nature of            Measurement                 2017                  2016
Name of Entity                                Relationship         Method                      $'000               $'000
Unitywater                                    Associate            Eq_~~~-              _ _}~~~31-              ~~~1~1...
Total Carrying Amounts                                                                       73,332              69,1_41

(b) Details
                                                                                                            Place of
Name of Entity                                Principal Activity                                            Business
                                                                                                        Moreton Bay,
                                                                                                        Sunshine
Unitywater                                    Water and Sewerage Services                               Coast &
                                                                                                        Noosa
                                                                                                        Regions


(c) Relevant Interests and Fair Values                                                                   Proportion of
                                                                                                         Participation
Name of Entity                                                                                           2017    2016
Unitywater                                                                                               4.25% 4.25%

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