Annual Report 2021-22

Noosa Council
Notes to the Financial Statements
for the year ended 30 June 2022

Note 3. Revenue (continued)
§Note/Subtotal§




(iii) Timing of Revenue Recognition for Grants, Subsidies, Contributions and Donations

                                                                  2022                                    2021
                                                         Revenue                                 Revenue
                                                      recognised            Revenue           recognised           Revenue
                                                      at a point in       recognised          at a point in      recognised
$ '000                                                        time          over time                 time         over time

Grants and Subsidies                                         6,818             14,718                4,307           10,712
Donations                                                        3                  –                   13                –
Contributions                                                2,854                  –                4,252                –
                                                            9,675             14,718                 8,572          10,712



Note 4. Interest and Other income
§Note§




§Subnote§




$ '000                                                                                                2022             2021

(a) Interest and Investment Revenue

Interest received from financial institutions and term deposits is accrued over the term of the investment.

Interest from Financial Institutions and Term Deposits                                                 414              421
Interest from Overdue Rates and Utility Charges                                                        381              380
Loan to Unitywater                                                                                   2,018            2,220
Total Interest and Investment Revenue                                                                2,813            3,021


§Subnote§




(b) Other Income

Dividends are recognised when they are declared.
Unitywater Income Tax Equivalent Received                                                            1,913            1,936
Other                                                                                                1,010            1,016
Total Other Income                                                                                   2,923            2,952



Note 5. Capital Income
§Note§




§Subnote§




$ '000                                                                            Notes               2022             2021

Revaluations
Revaluation Increment relating to Investment Property                              14                  400                 –
                                                                                                       400                 –

Total Capital Income                                                                                  400                  –




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