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 June 2015


28 Financial instruments         ~continued
               Other financial     assets
               Other investments are held with financial institutions, which are rated AAA to AA- based on rating Standard and Poor's
               agency ratings, and whilst not capital guaranteed. the likelihood of a credit failure is assessed as remote,

          Trade and other receivables
               In the case of rate receivables, Council has the power to sell the property to recover any defaulted amounts.                 In effect this
               power protects the Council against credit risk in the case of defaults.
               In other cases, Council assesses the credit risk before providing goods or services and applies nannal business credit
               protection procedures to minimise the risk.


               By the nature of the Councils operations, there is a geographical concentration of risk in the Council's area.


               Ageing of past due receivables and the amount of any impairment is disdosed in the following table:


                                                    Not past due                          Past due                              Less                     Total
                                                                         31 to 60        61 to 90          Over 90            Impaired
                                                                           days             days             days
                                                          $                  $                $                S                  S                           $


                  Receivables:                                937,636         61,330          25,296         4.411.620                 (6,247)          5.429,635
                  Loans to UnityNater                                             -                -        49.217,517                   -             49.217.517
                  2015                                        937,636         61,330          2S,296        53,629.137                 (6,247)         54,647,152

                  Receivables                           10.371.206           138,236          79.163         5.428,367                   -             16.016.992
                  Loans to Unitywater                            -                -                -        49,217.517                                 49,217,517

                  2014                                  10.371,206           138,236          79,163        54.645.904                   -             65,234,509




          Liquidity risk
                Liquidity risk is the risk that the Council will encounter difficulty in meeting the obligations associated with its financial
                liabilities that are settled by delivering cash or another finandal asset.

                Noosa Shire Council is exposed to liquidity risk through its normal course of business and through its borrowings
               with aTC and other financial institutions.

                The Council manages its exposure to liquidity risk by maintaining sufficient cash deposits and undrawn facilities.

                both short and kmg term, to caler for unexpected volatility in cash flows.
                These facilities are disclosed in note 18.


                The following table sets out thb liquidity risk in relation 10 financial liabilities held by the Council. It represents the
                remaining contractual cashflows (principal and interest) of financial liabilities allha end of the reporting period,
                excluding the impact of netting agreements:


                Consolidated                                            o to 1 year     1 to 5 years     Over 5 years     Total contractual            Carrying
                                                                                                                             cash flows                amount
                2015                                                         $                $                $                  $                           $
                       Trade and olher payables                            5,338,697               -                -           5,338,697              5,338,697
                       arc   Loans                                         4941 800      19754,559         28458148            53 154507              39380545
                                                                         '0,280,497      19.754,559        28,458,148          58,493,204             44.719242
                2014
                       Trade and other payables                           4,075,282                -                -           4,075,282               4,075,282
                       aTC Loans                                          7113,778       19436191          32049878            58599846               41177025
                                                                         11,189,060      19436,191         32,049878           62675128               45,252,307


                The outflows in the above table are not expected to occur significantly earlier than outlined and are not expected to
                be materially different amounts than indicated in the table.