2015-11-16 GC Agenda - Item 3, Attach 1 - Annual Report 2014-15

Statement of Comprehensive Income
This statement (also known as the profit and loss) measures how a council performed financially in
relation to funding its operations during the financial year. In simple terms, it illustrates how much
money was received by Council and how much was spent in a particular year.

Table 10 – Expenses Against Revenue

                             2013/14*              2014/15
                               ($’000)              ($’000)
Revenue                        42,372                97,032
Expenses                       39,331                79,202
Net Result                       3,041               17,830
* Only 6 months due to de-amalgamation on 1 January 2014.


The 2014/15 net result as reported in the audited financial statements was a surplus of $17.83
million. The net result includes capital revenue received for capital works (including grants and
subsidies and developer contributions) as well as income and expenses recognised for investment
property valuation changes and asset disposals. The removal of these non-standard operational
items shows Council’s actual operating surplus to be $6.73 million.



Operating revenue – where the money came from
Throughout the financial year Council received a total of $85 million in operating revenues (rates,
fees, operating grants); $6.8 million in capital revenue (developer contributions, capital grants); and
$5.1 million recorded as revenue from our share of investment in Unitywater. The sources of
Council’s operating revenue are shown below.

Figure 2 – Operating Revenue Sources 2014/15



                             Interest
                             Revenue Grants & Other
                               6%      Revenue
                                          6%

         Fees & Charges
              16%




         Other Income
             2%
                                                              Rates & Utility
                                                                Charges
                                                                  70%




The above breakdown in operating revenue confirms that Council has significant control over the
majority of its income sources, and as a result is not reliant on other levels of government or
external agencies to maintain its financial independence.



Noosa Council Annual Report 2014/15                                                            Page 29