Financial overview

In 2014-15 the department administered an estimated $165.8 billion in payments or around 40% of government outlays.

Statement of financial performance

The department reported an operating surplus of $65.8 million after adjustment for unfunded depreciation and amortisation and the revaluation of assets and provisions. This compares with a surplus of $132.6 million in 2013-14.

See Appendix K on page 284 for resource statements and expenses for Outcome 1, including 3 programmes.

Income

The department was primarily funded through direct appropriation in the annual budget cycle. The department received service related revenue from other Australian Government agencies and non-government entities under service arrangements—see Table 75 on page 175.

In 2014-15 the department received total income of $4,270.7 million, comprising $4,068.7 million in government appropriation and $202.0 million from other sources—see Table 76 on page 175.

Table 76 shows that in 2014-15 the department’s income increased slightly by $39.3 million or 0.9% compared to the previous year. This was the net result of an increase of $110.5 million in appropriation revenue and a reduction of $71.2 million in own source income. Figure 8 on page 176 shows a comparison of income and expenses over the past 3 years.

Table 75: Own source revenue1
Government agencies and other entities $ million
Australian Electoral Commission 1.4
Australian Taxation Office 9.9
Department of Foreign Affairs and Trade 7.1
Department of Health 23.0
Department of Immigration and Border Protection 1.0
Department of the Prime Minister and Cabinet 2.9
Department of Social Services 62.0
Department of Veterans' Affairs 29.8
Other agencies (amounts less than $1.0 million from other government agencies) 3.9
Other entities 43.4
Total 184.4

1. Financial and other data in this annual report has been rounded to the nearest decimal point. This may lead to minor differences between numbers.…

Expenses

The department’s expenses in 2014-15 totalled $4,432.6 million compared to $4,341.3 million in 2013-14.

In 2014-15 staff expenses were $2,805.5 million and supplier expenses were $1,369.9 million.

Table 76: Income and expenses1,2
  2012-13
$ million
2013-14
$ million
2014-15
$ million
% change since
2013-14
Income 4,192.0 4,231.4 4,270.7 +0.9
Expenses 4,456.0 4,341.3 4,432.6 +2.1
  1. 1. Financial and other data in this annual report has been rounded to the nearest decimal point. This may lead to minor differences between numbers.
  2. 2. Where relevant, comparative numbers have been restated to align with changes in accounting practices.

Figure 8: Income and expenses

Figure 8: Income and expense

Statement of financial position

Equity

The total equity of the department at 30 June 2015 was $671.4 million, representing contributed equity of $1,430.6 million, reserves of $95.4 million and accumulated deficit of $854.5 million.

Assets

The department’s total assets increased by 7.3% to $2,048.4 million at 30 June 2015.

Liabilities

The department’s total liabilities increased by 7.7% to $1,377.0 million at 30 June 2015.

Table 77: Equity, assets and liabilities
  2012-13
$ million
2013-14
$ million
2014-15
$ million
% change since
2013-14
Equity 562.0 630.5 671.4 +6.5
Assets 1,854.5 1,909.6 2,048.4 +7.3
Liabilities 1,292.5 1,279.1 1,377.0 +7.7

Figure 9: Equity, assets and liabilities

Figure 9: Equity, assets and liabilities

Administered items

In 2014-15 the department collected and transferred $1.5 billion child support payments between separated parents for the support of their children. The department also administered the BasicsCard and the Community Innovation through Collaboration Programme and recognised $24.2 million dividends and competitive neutrality payments on behalf of the Australian Government from Australian Hearing.

Page last updated: 5 February 2016

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