Accountable Officer’s and Chief Financial Officer’s declaration
The attached financial statements for the Department of Premier and Cabinet have been prepared in accordance with Direction 5.2 of the Standing Directions of the Assistant Treasurer under the Financial Management Act 1994, applicable Financial Reporting Directions, Australian Accounting Standards including Interpretations, and other mandatory professional reporting requirements.
We further state that, in our opinion, the information set out in the comprehensive operating statement, balance sheet, cash flow statement, statement of changes in equity and accompanying notes, presents fairly the financial transactions during the year ended 30 June 2022 and the financial position of the department at 30 June 2022.
At the time of signing, we are not aware of any circumstance that would render any particulars included in the financial statements to be misleading or inaccurate.
We authorise the attached financial statements for issue on 2 September 2022.
Anthony Bale
Chief Financial Officer
Department of Premier and Cabinet
Melbourne
2 September 2022
Jeremi Moule
Secretary
Department of Premier and Cabinet
Melbourne
2 September 2022
Comprehensive operating statement for the financial year ended 30 June 2022
|
Notes |
2022 $’000 |
2021 $’000 |
|
|
Continuing operations |
|||
|
Income from transactions |
|||
|
Output appropriations(i) |
2.1 |
599,827 |
531,939 |
|
Special appropriations |
2.1 |
50,674 |
75,474 |
|
Grants |
2.1 |
30,937 |
30,732 |
|
Other income |
2.1 |
13,430 |
4,659 |
|
Total income from transactions |
694,868 |
642,804 |
|
|
Expenses from transactions |
|||
|
Grant expenses |
3.1 |
225,951 |
201,123 |
|
Employee expenses |
3.1 |
257,395 |
238,740 |
|
Capital asset charge(i) |
3.1 |
– |
11,050 |
|
Depreciation and amortisation |
5.3 |
24,066 |
23,220 |
|
Interest expense |
174 |
95 |
|
|
Other operating expenses |
3.1 |
167,540 |
157,946 |
|
Total expenses from transactions |
675,126 |
632,174 |
|
|
Net result from transactions (net operating balance) |
19,742 |
10,630 |
|
|
Other economic flows included in net result |
|||
|
Net gain/(loss) on non-financial assets |
8.1 |
22 |
(657) |
|
Other gains on other economic flows |
8.1 |
2,222 |
3,075 |
|
Total other economic flows included in net result |
2,244 |
2,418 |
|
|
Net result |
21,986 |
13,048 |
|
|
Other economic flows — other comprehensive income |
|||
|
Changes in physical asset revaluation surplus |
5.1.1 |
206,975 |
30,632 |
|
Comprehensive result |
228,961 |
43,680 |
|
The accompanying notes form part of these financial statements.
Note:
(i) Capital asset charge was discontinued in 2021–22, with a corresponding reduction in appropriation revenue provided to the department to cover the expense. Refer to Note 3.1 for further detail.
Balance sheet as at 30 June 2022
|
Notes |
2022 $’000 |
2021 $’000 |
|
|
Assets |
|||
|
Financial assets |
|||
|
Cash and deposits |
7.2.1 |
55,356 |
52,882 |
|
Receivables |
6.1 |
118,104 |
106,753 |
|
Total financial assets |
173,460 |
159,635 |
|
|
Non-financial assets |
|||
|
Property, plant and equipment |
5.1 |
895,220 |
679,359 |
|
Intangible assets |
5.2 |
44,241 |
36,684 |
|
Other non-financial assets |
6.3 |
5,737 |
5,536 |
|
Total non-financial assets |
945,198 |
721,579 |
|
|
Total assets |
1,118,658 |
881,214 |
|
|
Liabilities |
|||
|
Payables |
6.2 |
37,036 |
44,239 |
|
Borrowings |
7.1 |
7,382 |
3,508 |
|
Employee benefits |
6.4 |
56,993 |
46,365 |
|
Other provisions |
6.5 |
5,447 |
1,591 |
|
Total liabilities |
106,858 |
95,703 |
|
|
Net assets |
1,011,800 |
785,511 |
|
|
Equity |
|||
|
Accumulated surplus |
171,001 |
149,015 |
|
|
Physical asset revaluation surplus |
599,330 |
392,355 |
|
|
Contributed capital |
241,469 |
244,141 |
|
|
Total equity |
1,011,800 |
785,511 |
|
|
Net worth |
1,011,800 |
785,511 |
|
The accompanying notes form part of these financial statements.
Cash flow statement for the financial year ended 30 June 2022
|
Notes |
2022 $’000 |
2021 $’000 |
|
|
Cash flows from/(used in) operating activities |
|||
|
Receipts from government(i) |
669,578 |
634,338 |
|
|
Receipts from other entities |
1,997 |
5,192 |
|
|
Goods and services tax recovered from the Australian Taxation Office |
27,075 |
27,375 |
|
|
Interest received |
4 |
4 |
|
|
Total receipts |
698,654 |
666,909 |
|
|
Payments to suppliers and employees |
(450,856) |
(414,436) |
|
|
Payments of grants expenses |
(217,918) |
(205,731) |
|
|
Capital asset charge payments(i) |
– |
(11,050) |
|
|
Interest and other costs of finance paid |
(174) |
(95) |
|
|
Total payments |
(668,948) |
(631,312) |
|
|
Net cash flows from operating activities |
7.2.2 |
29,706 |
35,597 |
|
Cash flows used in investing activities |
|||
|
Purchase of non-financial assets |
(22,896) |
(22,575) |
|
|
Proceeds from disposal of motor vehicles |
891 |
769 |
|
|
Total payments |
(22,005) |
(21,806) |
|
|
Net cash flows used in investing activities |
(22,005) |
(21,806) |
|
|
Cash flows from/(used in) financing activities |
|||
|
Appropriation for capital expenditure purposes |
51,800 |
– |
|
|
Special appropriations for capital expenditure purposes |
2.2.2 |
5,710 |
5,007 |
|
Total receipts |
57,510 |
5,007 |
|
|
Cash transferred out — machinery of government changes |
8.6 |
(2,672) |
(7,628) |
|
Capital grants to portfolio agencies |
(57,510) |
(5,007) |
|
|
Repayment of leases |
(2,555) |
(1,956) |
|
|
Total payments |
(62,737) |
(14,591) |
|
|
Net cash flows used in financing activities |
(5,227) |
(9,584) |
|
|
Net increase in cash and cash equivalents |
2,474 |
4,208 |
|
|
Cash and cash equivalents at beginning of financial year |
52,882 |
48,674 |
|
|
Cash and equivalents at end of financial year |
7.2.1 |
55,356 |
52,882 |
The accompanying notes form part of these financial statements.
Note:
(i) Capital asset charge was discontinued in 2021–22, with a corresponding reduction in appropriation revenue provided to the department to cover the expense. Refer to Note 3.1 for further detail.
Statement of changes in equity for the financial year ended 30 June 2022
|
Notes |
Physical asset revaluation surplus $’000 |
Contributed capital $’000 |
Accumulated surplus $’000 |
Total $’000 |
|
|
Balance at 1 July 2020 |
361,723 |
251,818 |
135,967 |
749,508 |
|
|
Net result for the year |
– |
– |
13,048 |
13,048 |
|
|
Annual appropriations — capital |
2.2.1 |
– |
– |
– |
– |
|
Special appropriations — capital |
2.2.2 |
– |
5,007 |
– |
5,007 |
|
Machinery of government transfers |
– |
(7,677) |
– |
(7,677) |
|
|
Capital distributions to portfolio agencies |
– |
(5,007) |
– |
(5,007) |
|
|
Changes in physical asset revaluation surplus |
5.1.1 |
30,632 |
– |
– |
30,632 |
|
Balance at 30 June 2021 |
392,355 |
244,141 |
149,015 |
785,511 |
|
|
Net result for the year |
– |
– |
21,986 |
21,986 |
|
|
Annual appropriations — capital |
2.2.1 |
– |
51,800 |
– |
51,800 |
|
Special appropriations — capital |
2.2.2 |
– |
5,710 |
– |
5,710 |
|
Machinery of government transfers |
8.6 |
– |
(2,672) |
– |
(2,672) |
|
Capital distributions to portfolio agencies |
– |
(57,510) |
– |
(57,510) |
|
|
Changes in physical asset revaluation surplus |
5.1.1 |
206,975 |
– |
– |
206,975 |
|
Balance at 30 June 2022 |
599,330 |
241,469 |
171,001 |
1,011,800 |
The accompanying notes form part of these financial statements.
Updated