Annual Report 2021-22(PDF, 15MB)

Highlights and achievements
Council has achieved another positive financial result this year. The following outcomes were
achieved during the year:
1.    An overall net financial result of $17.9 million when including Council’s share of Unitywater’s
      annual profit, capital revenue and capital expenditure to Council’s operating position.
2.    State and federal government support for both operating and capital projects continued with
      grant funding increasing over the previous year with $21.5 million received.
3.    Continued investment in infrastructure replacement to maintain service levels to the
      community, with a record $36 million in capital works delivered.
4.    A net operating deficit of $1.6 million resulted after the inclusion of an $8.0 million increase in
      Council’s landfill restoration provision. This increase was due to emergent site issues
      identified upon commencement of construction works and an escalation in forecast costs.


      $113.1 million                                  Strong                   Over $1.3 billion
      Operating
                                                    Cash & Debt
      Revenue
      generated                                       Position
                                                                               in Community Equity

                 $21 million                $21.5 million                   Credit rating
                  on renewal of
                                            Received in                     Sound with a
                  Infrastructure
                                            Grants and Subsidies            Neutral outlook
                      Assets


Background
Council’s annual financial statements are
prepared to comply with Australian Accounting
Standards and contain specific information                 Figure 1 – Financial Reporting Elements
regarding financial performance.

Financial statements include:

•    a Statement of Comprehensive Income (i.e.
     Profit and Loss),
•    a Statement of Financial Position
     (i.e. Balance Sheet),
•    a Statement of Changes in Equity, and
•    a Statement of Cash Flows.

Collectively, these financial statements provide a
formal picture of the financial strength of an
organisation.

The Community Financial Report (CFR) consists of
five key reporting elements, each of which has a
specific purpose for the measurement and
presentation of Council’s finances. The linkages
between the five key elements are shown in
Figure 1.




Noosa Council | Annual Report 2021 – 2022                                                               Page 1   88