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Annual Report 2019 - 2020

Financial performance

Our financial result was a surplus of $6.9 million which is $9.1 million more than the budgeted deficit of $2.2 million.

Income

Total income for 2019–2020 was $379.0 million and expenditure was $372.1 million.

Funding from the State was $192.1 million.

Funding from the Commonwealth under the National Partnership Agreement was $82.1 million.

Acceptance by the Crown entity of employees’ benefits and other liabilities was $6.0 million.

Funding from other sources includes $37.7 million from the Public Purpose Fund, $51.8 million from other grants received and $9.3 million from other sources. Further details may be found in the notes to the financial statements that begin on page 75.

Expenses

Our major expenses for 2019–2020 were:

  • employee-related expenses of $153.8 million ($145.6 million in 2018–2019); and
  • payments to private lawyers of $119.6 million ($118.7 million in 2018–2019).

Budget outline 2020–2021

Due to COVID-19, the State Budget and related 2020–2021 Appropriation Bill has been delayed. However, pursuant to section 4.10 of the Government Sector Finance Act 2018 (NSW), the NSW Treasurer has authorised Ministers to spend specified amounts from the Consolidated Fund. This authorisation is current from July 1, 2020 until the release of the 2020–2021 Budget or Appropriation Bill.

Balance sheet($M)
Current assets33.9
Non-current assets110.0
Total assets143.9
Current liabilities41.5
Non-current liabilities69.3
Total liabilities110.8
Net assets33.1
Equity33.1

Our financial performance over five years