Financial outlook
The operating statement provides an estimate for the period from 2025–26 to 2028–29, with the estimates below representing the allocation of resources that support the delivery of DPC’s key priorities and outputs.
We are forecasting an operating deficit of $1.8 million for 2025–26. The 2025–26 operating deficit is primarily attributable to the forecast operating expenditure funded from trust balances. For 2025–26, the output appropriations for DPC are higher compared to the forward years, which is mainly attributed to the larger output initiatives funded in 2025–26. There is a larger allocation of special appropriations funding for 2026–27, which is predominantly for the Victorian Electoral Commission to conduct the scheduled 2026 state elections.
Our output appropriation funding for 2025–26 includes $34.9 million provided through the 2025–26 State Budget. The government’s 2025–26 budget decisions that relate to DPC are detailed on pages 3–13 and 80–82 of the Victorian Budget 2025–26: Budget Paper No. 3 Service Delivery.
Comprehensive operating statement
($ million)
| Net result from continuing operations | 2025–26 | 2026–27 | 2027–28 | 2028-29 |
| Income from transactions |
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|
|
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| Output appropriations | 318.1 | 260.1 | 205.6 | 204.0 |
| Special appropriations | 86.9 | 150.5 | 63.5 | 63.5 |
| Sales of goods and services | 9.8 | 9.8 | 9.8 | 9.8 |
| Grants and other transfers | 16.0 | 10.8 | 1.5 | 1.5 |
| Fair value of assets and services received free of charge or for nominal consideration | 28.6 | 28.6 | 27.9 | 27.9 |
| Other revenue and income | 0.2 | 0.2 | 0.2 | 0.2 |
| Total income from transactions | 459.7 | 460.1 | 308.5 | 306.9 |
| Expenses from transactions |
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|
|
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| Employee benefits | 211.8 | 247.2 | 176.8 | 176.7 |
| Depreciation and amortisation | 8.2 | 8.5 | 8.2 | 8.2 |
| Grants and other transfers | 149.6 | 99.9 | 56.4 | 55.0 |
| Other operating expenses | 91.9 | 106.3 | 68.6 | 68.4 |
| Total expenses from transactions | 461.5 | 461.9 | 310.0 | 308.3 |
| Net result from transactions (net operating balance) | 1.8 | 1.8 | 1.4 | 1.4 |
Note: Figures in this table are subject to rounding to the nearest million dollars and may not add up to totals.
Asset outlook
Capital program 2025–26
New projects
($ million)
2025–26 | 2026–27 | 2027–28 | 2028-29 | Total estimated investment | |
| Supporting the Office of the Governor and protecting Government House heritage (statewide) | 3.0 | 3.0 | 3.0 | 3.0 | 12.0 |
| Total new projects | 3.0 | 3.0 | 3.0 | 3.0 | 12.0 |
Existing projects
($ million)
Total estimated investment | Estimated expenditure to 30 June 2025 | Estimated expenditure 2025–26 | Remaining expenditure | Estimated completion date | |
| Total existing projects | .. | .. | .. |
| .. |
| Total projects | 12.0 | .. | 3.0 | 9.0 | .. |
| Other capital expenditure | n.a. | n.a. | 14.0 | n.a. | n.a. |
| Other capital expenditure includes offsets by factors such as funding held in contingency pending confirmation of project implementation planning and funding from other sources. | |||||
| Total 2025–26 capital expenditure |
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| 17.0 |
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Updated