Output costs
The 2023–24 Victorian State Budget Paper 3 sets out the department’s outputs and funding. For the 2023–24 financial year, the department’s output budget totals $15.6 billion.
| The department’s objectives and outputs | 2023–24 ($m) |
| Raise development outcomes of 3 and 4-year old children prior to attending school | |
| Kindergarten Delivery | 825.8 |
| Early Childhood Sector Supports and Regulation | 716.1 |
| Raise learning, development, engagement and wellbeing outcomes for all Victorian students | |
| School Education – Primary | 4,985.9 |
| School Education – Secondary | 4,198.5 |
| Wellbeing Supports for Students | 410.3 |
| Supports for Schools and Staff | 1,671.6 |
| Provide equitable and inclusive schooling to all Victorian students | |
| Promoting Equal Access to Education | 1,162.4 |
| Additional Supports for Students with Disabilities | 1,601.5 |
| Total1 | 15,572.2 |
Operating performance
The department is expected to report an operating surplus of $537 million in 2023–24, compared with an expected operating surplus in 2022–23 of $631 million for the revised budget.
Balance sheet
The department’s net assets position is estimated to increase by $2.5 billion in 2023–24, compared with the 2022–23 revised budget, reflecting an increase in total assets of $2.6 billion.
Investing and finance
The department is anticipating an increase of $199 million in its net cash position in 2023–24, compared with the 2022–23 revised budget.
Asset outlook and investment
The department manages a significant and growing asset portfolio to deliver effective education services for Victorians. The asset portfolio includes schools’ property, plant and equipment.
The department’s total assets are estimated to increase to $45 billion by 30 June 2024. More than $2.5 billion has been committed in 2023–24 for new and existing capital projects and $3.9 billion remaining expenditure committed for future capital works. Further financial detail on the department’s asset program is available in the 2023–24 State Budget Paper 4: State Capital Program.
1 Table may not add due to rounding.
Updated