2020-11-16 GC Agenda - Item 6 - Attachment 1 - Noosa Council Annual Report 2019-20

Noosa Shire Council

Notes to the Financial Statements
for the year ended 30 June 2020

Note 24. Commitments for Expenditure
                                                                                              2020              2019
                                                                               Notes          $'000             $'000


(a) Operating Leases (2019 only)

Minimum lease payments in relation to non-cancellable operating leases are as follows:

Within one year                                                                                   -              237
One to five years                                                                                 -              683
Later than five years                                                                             -               17
                                                                                                  -             937

2019: IT equipment lease payments are generally fixed, but with inflation clauses on which future rentals are
determined.

Refer to note 18 for information on leases for 2020.

(b) Operational Contractual Commitments

Contractual commitments at end of financial year but not recognised in the financial statements are as follows:

Within one year                                                                             12,528         14,260
One to five years                                                                           30,633         38,909
Later than five years                                                                          943          3,158
                                                                                           44,104         56,327

(c) Capital Commitments (exclusive of GST)

Commitment for the construction of the following assets contracted for at the reporting date but not recognised
as liabilities:

Property, Plant and Equipment
Roads, Bridges and Stormwater                                                                3,393               130
Pathways                                                                                         -                25
Other                                                                                            -               915

Total Commitments                                                                           3,393          1,070

These expenditures are payable as follows:
Within the next year                                                                         3,393          1,070
Later than one year and not later than 5 years                                                   -              -
Later than 5 years                                                                               -              -
Total Payable                                                                               3,393          1,070




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