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FinancialStatements-June20101.ReportAuthorityTheNorthernSEQDistributor-RetailerAuthorityNSDRAtradingasUnitywaterisaQueenslandStatutoryBodyestablishedundertheSouth-EastQueenslandWaterDistributionandRetailRestructuringAct2009TheRestructuringAct.TheRestructuringActspecificallystatesthatsevenotherActsapplytotheNSDRAmostnotablyinrelationtotheseFinancialStatementstheFinancialAccountabilityAct2009andtheStatutoryBodiesFinancialArrangementAct1982.TheRestructuringActstatesthattheNSDRAx19sfunctionsaretodothefollowinginitsgeographicareaonandfrom1July2010-purchasewaterfromthewatergridmanager-distributewaterandprovidewaterandsewerageservicestoitscustomers-chargecustomersforthoseservicesandmanagecustomerenquiriesservicerequestsandcomplaints-performfunctionsunderthisactandtheWaterSupplyActrelatingtotradewasteasasewerageserviceprovider-performparticularplanninganddevelopmentassessmentfunctionsunderthePlanningAct-anythingelselikelytocomplementorenhanceafunctionmentionedabove-anyotherbusinessorfunctionthattheNSDRAconsidersappropriate.TheNSDRAexpiresattheendof99yearsfromwhenitwasestablishedon3November2009.OnexpirytheRestructuringActstatesthatx18theparticipantsbecomethesuccessorinlawoftheassetsandliabilitiesrateablyinaccordancewiththeirparticipationrightsunderthedistributor-retailerx19sparticipationagreementx19TheNSDRAisprimarilyinvolvedinthedistributionandretailofwaterandprovideswaterandsewerageservicestocustomersinthelocalgovernmentareasoftheMoretonBayandSunshineCoastRegionalCouncils.TheNSDRAx19sfirstreportingperiodisthe3November2009to30June2010.Asthisisthefirstreportingperiodnocomparativeshavebeenreported.2.SignificantaccountingpoliciesaStatementofcomplianceThesefinancialstatementsaregeneralpurposefinancialstatementswhichhavebeenpreparedfortheperiod3November2009to30June2010inaccordancewithapplicableAustralianAccountingStandardsAASincludingAustralianInterpretationsadoptedbytheAustralianAccountingStandardsBoardAASBtheFinancialandPerformanceManagementStandard2009QueenslandTreasuryx19sFinancialReportingRequirementsforQueenslandGovernmentagenciesandotherauthoritativepronouncements.bDateofauthorisationThefinancialstatementswereauthorisedforissueonthedatetheyweresubmittedtotheAuditor-Generalforfinalsignature.Thisisthedatethemanagementcertificateissigned.cBasisofmeasurementThefinancialstatementshavebeenpreparedonanaccrualbasisandarebasedonhistoricalcosts.dPresentationcurrencyandcomparativesThefinancialstatementsarepresentedinAustraliandollarswhichistheNSDRAx19sfunctionalcurrency.Amountsincludedinthefinancialstatementshavebeenroundedtothenearest1000unlessdisclosureofthefullamountisspecificallyrequired.eUseofestimatesandjudgementsThepreparationoffinancialstatementsrequiresmanagementtomakejudgementsestimatesandassumptionsthataffecttheapplicationofaccountingpoliciesandthereportedamountsofassetsliabilitiesincomeandexpenses.Actualresultsmaydifferfromtheseestimates.Estimatesandunderlyingassumptionsarereviewedonanongoingbasis.Revisionstoaccountingestimatesarerecognisedintheperiodinwhichtheestimateisrevisedandinanyfutureperiodsaffected.Uncertaintyexistsastothevaluationofassetsthatwillbetransferredbyparticipatingcouncilsasdisclosedinnote13.32Notestoandformingpartofthefinancialstatements