Annual Report 2021-22

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

Note 8. Finance Costs
§Subnote§




$ '000                                                                                 Notes                2022                 2021

Finance Costs - Queensland Treasury Corporation                                          20                   527               3,458
Bank Charges                                                                                                  147                 138
Impairment of Receivables                                                                                       7                  (8)
Interest on Leases                                                                       18                     2                    3
Landfill Restoration                                                                     21                 8,016               1,236
Total Finance Costs                                                                                       8,699                4,827

In the 2020/21 financial year Council elected to refinance its existing QTC debt pool under the Local Government Debt
Refinancing Program. As a result, an early repayment adjustment of $2.5 million reflecting the difference between the book
value and the market value of the debt was incurred.



Note 9. Capital Expenses
§Note§




§Subnote§




$ '000                                                                                 Notes                2022                 2021

(a) Revaluation Decrement

Downwards Revaluation of Investment Property                                             14                     –                 100
                                                                                                                –                 100


§Subnote§




(b) Other Capital Expenses

Loss on Write-off of Assets                                                                                 2,645               4,700
                                                                                                           2,645               4,700


§Subnote§




Total Capital Expenses                                                                                    2,645                4,800


Note 10. Cash, Cash Equivalents and Financial Assets
§Note§




§Subnote§




$ '000                                                                                                      2022                 2021

Cash and cash equivalents in the statement of cash flows include cash on hand, all cash and cheques receipted but not banked
at the year end, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities
of three months or less that are readily convertible to cash and which are subject to an insignificant risk of changes in value.


Cash and Cash Equivalents
Cash at Bank and On Hand                                                                                   1,484                1,237
Deposits at Call                                                                                          97,017               68,791
Balance per Statement of Financial Position                                                               98,501               70,028

Balance per Statement of Cashflows                                                                       98,501               70,028




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