Annual Report 2021-22

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

Note 31. National Competition Policy
§Subnote§




Business activities to which the code of competitive conduct is applied

Council applies the competitive code of conduct to the following activities:

            •   Waste Management
            •   Holiday parks

This requires the application of full cost pricing, identifying the cost of community service obligations (CSO) and eliminating
the advantages and disadvantages of public ownership within that activity.

The CSO value is determined by Council, and represents an activities cost(s) which would not be incurred if the primary
objective of the activities was to make a profit. The Council provides funding from general revenue to the business activity to
cover the cost of providing non-commercial community services or costs deemed to be CSO's by the Council.
§Total§




The following activity statements are for activities subject to the competitive code of conduct:


                                                                                                  Waste
$ '000                                                                                       Management        Holiday Parks

Revenue for services provided to the Council                                                           263                   –
Revenue for services provided to external clients                                                   20,073               3,777
Community Service Obligations                                                                          126                   –
                                                                                                   20,462               3,777
Less: Operational Expenditure                                                                     (16,578)             (3,071)
Less: Landfill Restoration Provision                                                               (8,016)                   –
Surplus/(Deficit)                                                                                  (4,132)                 706



Description of CSO's provided to business activities:
§Total§




                                                                                                                     Net Cost
Activities                                                CSO Description                                               $´000

Waste Management                                          Waste collection and disposal charges for
                                                          charitable organisations.                                        126



Note 32. Trust Funds
§Note§




§Subnote§




$ '000                                                                                                2022               2021

Monies collected or held on behalf of other entities yet to be paid out to or on behalf of
those entities                                                                                        5,097              3,971
                                                                                                      5,097              3,971



Funds held in trust represent security deposits lodged to guarantee contract performance, operational works, event impacts
and maintenance obligations. Council performs only a custodian role in respect of these funds until such times as the underlying
obligations are met and the funds are released. As these funds cannot be used for Council purposes, they are not bought to
account in the financial statements.

Where performance obligations are not met then the funds are transferred to Council as compensation towards undertaking
associated rectification works.




                                                                                                                    Page 48 of 62