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

                                                                                                                    QAQ
                                                                                                          certified statements



NOOSA SHIRE COUNCIL

Notes to the financial   statements
For the year ended 3D June 2015
                                                                                                              2014
                                                                                              2015         (6 months)

                                                                                    Note        $               $

 15 Intangible assets
         Net carrying value at period end:
              Computer Software                                                              2,701 ,457      2,268,600
                                                                                             2,701,457       2,268,600
         Computer Software
            Opening gross carrying value                                                     2,290,109
            Acquired at cost                                                                   342,232       2,171,862
            Assest transferred from de-amalgamated           Council                                           118,247
                                                                                             2,632,341       2,290,109
             Accumulated amortisation
             Opening balance                                                                    21,509
             Amortisation in the period                                                        250,865          21,509
                                                                                               272,374          21 ,509
             Net carrying value                                                              2,359,967       2,268,600
             Work in progress                                                                  341,490
         Total carrying value at end of the financial year                                   2,701,457       2,268,600

        Straight line amortisation has been used with no residual value.
        Software has a useful life estimated at ten years.

16 Trade and other payables
        Current
             Accruals                                                                        3,497,696       2,054,226
             Creditors                                                                       1,074,460       1,185,975
             Employee related accruals                                                         766,541         835,081
             Annual leave                                                         1.16(c)    2,301,569       2,484,788
             Other entitlements                                                                 95,871         109,720
                                                                                             7,736,143       6,669,789

        Employee benefit expenses are calculated at current pay levels and
        adjusted for inflation and likely future chal1Qes in salary level.
        The non-current portion of annual leave and long service leave is then
        discounted to the present value. Further details on employee
        entitlements are reported in Note 1.16

17 Provisions
       Current
            Long service leave                                                    1.16(b)   4,114,389       4,358,384
                                                                                            4,114,389       4,358,384
        Non.Current
            Long service leave                                                    1.16(b)     347,535         447,272
            Property restoration:
                (i) Landfill sites                                                          7,797,389       7,719,069
                (ii) Quarry sites                                                              50,000          50,000
                                                                                            8,194,924       8,216,341

       Details of movements in provisions:
            Long service leave
                Balance at the beginning of financial year                                  4,805,656
                Transferred from de-amalgamated council                                                     5,751,090
                Amount provided for in the period                                             318,483         258,040
                Amount paid in the period                                                    (662,215)     (1,203,475)
                Balance at end of the financial year                                        4,461,924       4,805,656

            (i) Landfill sites
                Balance at the beginning of financial year                                  7,719,069
                Transferred from de-amalgamated council                                                    4,598,150
                Increase in provision ~due to change in time                                   78,320
                Accounting adjustment on de-amalgamation                                                   3,120,919
                Balance at end of the financial year                                        7,797,389      7,719,069



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