Annual Report 2018-19

Noosa Shire Council

Financial Statements
for the year ended 30 June 2019


Table of Contents                                                                  Page

1. Primary Financial Statements:
  Statement of Comprehensive Income                                                 52
  Statement of Financial Position                                                   53
  Statement of Changes in Equity                                                    54
  Statement of Cash Flows                                                           55

2. Notes to the Financial Statements
     1    Summary of Significant Accounting Policies                                56
   2(a)   Council Functions - Component Descriptions                                60
   2(b)   Council Functions - Analysis of Results by Function                       61
     3    Revenue Analysis                                                          62
     4    Grants, Subsidies, Contributions and Donations                            64
     5    Employee Benefits                                                         65
     6    Materials and Services                                                    65
     7    Finance Costs                                                             66
     8    Capital Expenses                                                          66
     9    Cash and Cash Equivalents                                                 67
    10    Trade and Other Receivables                                               68
    11    Investment Property                                                       69
    12    Property, Plant and Equipment                                             69
    13    Fair Value Measurements                                                   73
    14    Intangible Assets                                                         79
    15    Trade and Other Payables                                                  79
    16    Borrowings                                                                80
    17    Provisions                                                                81
    18    Other Liabilities                                                         83
    19    Asset Revaluation Surplus                                                 84
    20    Commitments for Expenditure                                               85
    21    Contingent Liabilities                                                    86
    22    Superannuation                                                            86
    23    Operating Lease Income                                                    87
    24    Equity Investments                                                        88
    25    Trust Funds                                                               90
          Reconciliation of Net Result for the year to Net Cash
    26                                                                              90
          Inflow (Outflow) from Operating Activities
    27    Reconciliation of Liabilities arising from Finance Activities             91
    28    Prior Period Adjustments                                                  91
    29    Events Occurring After Balance Sheet Date                                 91
    30    Financial Instruments                                                     92
    31    National Competition Policy                                               97
    32    Transactions with Related Parties                                         98

3. Management Certificate                                                           101

4. Independent Auditor's Report                                                     102

5. Current Year Financial Sustainability Statement                                  105
  Certificate of Accuracy - Current Year Financial Sustainability Statement         107
  Independent Auditor's Report - Current Year Financial Sustainability Statement    108

6. Long Term Financial Sustainability Statement                                     111
  Certificate of Accuracy - Long Term Financial Sustainability Statement            113
                                                                                   page 51