Annual Report 2015-16

Financial Statements 2016

 Noosa Shire Council

 Notes to the Financial Statements
 for the year ended 30 June 2016
 Note 16. Provisions (continued)
                         eee                                                            2016 —SS*~*~«COS
isnt St                                                                                        ecensnt
 Details of movements in Provisions:

 Long Service Leave
 Balance at beginning of financial year                                                 4,462         4,806
Amount provided for in the period                                                       1,119           318
Amount paid in the period                                                                (867)         (662)
 Balance at end of financial year                                                       4,714         4,462 _
Quarry Rehabilitation
 Balance at beginning of financial year                                           500                    50
 Balance at end of financial year                                                         500 8
This is the present value of the estimated future cost of restoring the quarry site under
the State Government environmental regulations at the end of its useful life.
 Landfill Sites
 Balance at beginning of financial year                                                 7,797         7,719
 Increase in provision - due to change in time                                            851
 Balance at end of financial year                                                      8 648 7,797
This is the present value of the estimated cost of restoring the Noosa landfill under
the State Government environmental regulations at the end of its useful life.

 Note 17. Asset Revaluation Surplus

 Movements in the asset revaluation surplus:
 Balance at beginning of financial year                                                14,334             -
 Net adjustment to non-current assets at end of period to reflect a
change in current fair value:
 Land                                                                                   6,815             -
 Buildings                                                                              1,335         5,638
Storm Water                                                                                 -         8,696
Other Infrastructure Assets                                                             2,033   ss
                                                                                      10,183 14,334
Balance at end of financial year                                                 _ 24,517 14,334

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