Annual Report 2015-16

Financial Statements 2016

 Noosa Shire Council

 Notes to the Financial Statements
  for the year ended 30 June 2016
 Note 13. Intangible Assets
                                                    _                    /           2016          2015
 —                                                                      Notes        $'000        $'000
 Intangible Assets are as follows;

 Computer Software
 Opening Gross Carrying Value                                                       2,632         2,290
 Acquired at Cost                                                                     204          342 _
 Closing Carrying Value                                                             2,836   ———_-2,632_
 Work In Progress                                                             .       340,         342
 Closing Gross Carrying Value                                                 ___-3,176         2,974
 Opening Accumulated Amortisation Balance                                            (272)          (21)
 Amortisation in the period                                              7           (290)      — (251)
 Closing Accumulated Amortisation Balance                                            (562)       _ (272)
 Net Book Value                                                               -    2,614    7    2,702
 TOTAL INTANGIBLE ASSETS - NET BOOK VALUE                                          2,614    ___ 2,702
 Software assets have a finite life estimated at 10 years.
 Straight line amortisation has been used with no residual value.

 Note 14. Trade and Other Payables

 Current

 ATO - Net GST Payable                                                                 85             -
Accruals                                                                            2,940         3,498
Creditors                                                                           1,720         1,074
 Employee Related Accruals                                                            960          766
 Annual Leave                                                                       2,094        2,302
 Other Entitlements                                                                    89           96
 TOTAL CURRENT TRADE AND OTHER PAYABLES                                            7,888. 7,736

 Employee benefit expenses are calculated at current pay levels and adjusted for inflation and likely future changes
 in salary level. The non-current portion of annual leave and long service leave is then discounted to the present value.
 Further details on employee entitlements are reported in Note 1.

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