Annual Report 2021-22

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

Note 33. Transactions with Related Parties
§Note§




(a) Subsidiaries (ie. entities and operations controlled by Council)
§Subnote§




Council has no interest in any Subsidiaries.


(b) Associates
§Subnote§




Council has a participating interest in the Northern SEQ Distributor-Retailer Authority (trading as Unitywater) governed by
a Participation Agreement.

Transactions with Unitywater
The amount of revenue and expenditure include in the Statement of Comprehensive Income, and the amount receivable or
payable to Unitywater are as follows:

$ '000                                                                        Notes                  2022               2021
Revenue
Interest on loans                                                               4(a)                2,018               2,219
Taxation Equivalents                                                            4(b)                1,913               1,932
Dividends                                                                      13(d)                1,717               1,495

Amounts receivable
Interest                                                                                              504                 554
Dividends                                                                                             869                 630
Taxation equivalents                                                                                  228                 478

Loans
Loans                                                                           10                 49,218             49,218

Unitywater operates under an income tax equivalent regime; with all tax paid being distributed to the participating Councils
on a pro-rata basis to their participation rights.

Dividends received by Council from Unitywater are recorded as a reduction in the carrying value of the non-current asset.

Shareholder loans provide for a fixed interest rate with quarterly interest only payments. Further detail regarding Unitywater
is contained in Note 13 Equity Investments.


(c) Joint ventures
§Subnote§




Council has no interest in any joint ventures.


(d) Key Management Personnel
§Subnote§




Transactions with Key Management Personnel

Councillors
Cr Clare Stewart (Mayor)
Cr Frank Wilkie
Cr Karen Finzel
Cr Joe Jurisevic
Cr Amelia Lorentson
Cr Brian Stockwell
Cr Tom Wegener

Executive Leadership Team
Chief Executive Officer
Director Community Services
Director Corporate Services
Director Infrastructure Services
Director Environment and Sustainable Development
Director Executive Services


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