2017-12-12 S&O Agenda - Attachment 1 to Item 9 - Tourism Noosa Annual Report 2016-17

Employee Provisions
Employee provisions represent amounts accrued for annual leave and long service leave.
The current portion for this provision includes the total amount accrued for annual leave entitlements and the
amounts accrued for long service leave entitlements that have vested due to employees having completed the
required period of service. Based on past experience the company does not expect the full amount of annual
leave or long service leave balances classified as current liabilities to be settled within the next 12 months.
However, these amounts must be classified as current liabilities sinc:e the r'.nmrony does not have an
unconditional right to defer the settlement of these amounts in the event employees wish to use their leave
entitlement.
The non-current portion for this provision includes amounts accrued for long service leave entitlements that have
not yet vested in relation to those employees who have not yet completed the required period of service.
Note 10 Equity - retained surpluses
The Directors have resolved to include a Marketing Contingency reserve to staisfy the requirement of Noosa Shire
Council. The retained surpluses as at l July 2015 were adjusted to accommodate the reserve.
                                                                                              s                s
Retained surpluses at l July                                                                  111.353           67,759
Marketing Contingency reserve                                                                 350,000          350,000
Surpluses for the year                                                                          3,901           43,594
                                                                                              465,254          461,353




Note 11 Related Party Transactions

  a.    Key management Personnel
        Any person(s) having authority and responsibility for planning, directing and controlling the activities of the
        company, directly or indirectly, including any director (whether executive or otherwise) is considered key
        management personnel.
                                                                                           2017              2016
                                                                                              s       s
        Directors Expenses Reimbursement                                               20,167          20,839
                                                                                       20,167          20,839
Transactions between related parties are on normal commercial terms and conditions no more favourable than
those available to other persons unless otherwise stated.


Note 12 Entity Details

The registered office of the entity is:
           Tourism Noosa Ltd
           Shop 22 Noosa Harbour Marine Village
           2 Parkyn Court
           Tewantin QLD 4565
The principal place of business is:
           Tourism Noosa Ltd
           Shop 22 Noosa Harbour Marine Village
          2 Parkyn Court
           Tewantin QLD 4565

Note 12 Members' Guarantee
The entity is incorporated under the Corporations Act 2001 and is an entity limited by guarantee. If the entity is
wound up, the constitution states that each member is required to contribute a maximum of $10.00 each towards
meeting any outstandings and obligations of the entity.