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

                                                                                                                    OAO
                                                                                                           certified statements



NOOSA   SHIRE COUNCIL

Notes to the financial statements
For the year ended 30 Jur,e 2015
                                                                                                              2014
                                                                                             2015          (6 months)

                                                                                     Note      $                $
                  Current portion
                  Non-current portion                                                        7,797,389        7,719,069
                                                                                             7,797,389        7,719,069
         This is the present value of the estimated future cost of restoring the
         Noosa landfill under the State Government environmental      regulations
         at the end of its useful life.

              (ii) Quarry sites
                  Balance at the beginning of financial year                                    50,000
                  Transferred from de-amalgamated      council                                                      50,000
                  Balance at end of the financial year                                          50,000              50,000


                  Current portion
                  Non-current portion                                                           50,000              50,000
                                                                                                50,000              50,000
         This is the present value of the estimated future cost of restoring the
         quarry sites under the State Government environmental      regulations at
         the end of its useful life.

 18 Borrowings                                                                       1.17
        Unsecured borrowings
     Unsecured borrowings are provided by the Queensland Treasury
     Corporation.
     All borrowings are in AUD denominated     amounts and carried at amortised
     cost, interest being expensed as it accrues. No interest has been
     capitalised during the current or comparative reporting period. Expected
     final repayment dates vary from 19 November 2025 to 4 December 2026.

      There have been no defaults or breaches of the loan agreement       during
     the period.
     Principal and interest repayments are made quarterly in arrears.

     Details of borrowings at balance date are:
         Current
              Queensland   Treasury   Corporation                                            2,633,065         2,600,397


         Non Current
              Queensland   Treasury   Corporation                                           36,747,480       38,576,628


     Details of movements in borrowings:
         Queensland Treasury Corporation
                   Balance at the beginning of financial year                               41,177,025
                   Loans raised                                                                 794,000        2,300,000
                   Loans recognised on the de-amalgamation       from SCRC                                   40,048,048
                   Loan interest capitalised in period                                        2,266,452        1,137,954
                   Principal repayments                                                      (4,856,932)      (2,308,977)
                   Balance at end of the financial year                                     39,380,545       41,177,025
              Classified as :
                   Current                                                                   2,633,065        2,600,397
                   Non-current                                                              36,747,480       38,576,628
                                                                                            39,380,545       41,177,025




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