Financial statements

Operating statement

For the year ended 30 June 2022 2021-22
$'000
2020-21
$'000
Income from transactions    
Revenue from government * 158,277 147,356
Sales of goods and services 571 579
Payments to consolidated fund (366) (346)
Total income from transactions 158,482 147,589
Expenses from transactions    
Employee benefits 83,066 77,889
Supplies and services 62,461 57,301
Depreciation and amortisation 3,714 2,706
Grants and other transfers 5,513 5,392
Capital asset charge - 795
Interest expenses 42 9
Other expenses 26 23
Total expenses from transactions 154,822 144,115
Net result from transactions 3,660 3,474
Other economic flows in net result    
Net gains / (losses) on financial instruments - -
Net gains / (losses) on non-financial assets 34 13
Other gains / (losses) on other economic flows 1,627 2,306
Total other economic flows in net result 1,661 2,319
Net surplus / (deficit) for reporting period 5,321 5,793

* Revenue from government represents the output budget allocated to SRO

Notes to the operating statement

  • The increase of $5.177 million in employee benefits was mainly due to commencement of employees associated with enhanced compliance activities.

  • The increase of $5.160 million in supplies and services was mainly associated with new initiatives, the transition to Ballarat Govhub and the commencement of our systems modernisation program.  

  • The increase of $1.008 million in depreciation and amortisation was mainly due to amortisation associated with right-of-use lease assets and software development.

  • Grants and other transfers consists of payments made to municipal councils in relation to the administration of the Fire Service Property Levy, which were based on the Treasurer’s determination under section 70 of the Fire Services Property Levy Act 2012.

  • Expenses from transactions exclude $0.571 million in relation to the administration of the Growth Area Infrastructure Contribution, which is operated through a Treasury Trust.

Balance sheet

As at 30 June 2022 2021-22
$'000
2020-21
$'000
Financial assets    
Cash assets - -
Receivables 68,871 54,704
Total financial assets 68,871 54,704
Non-financial assets    
Assets Held for Sale 29 -
Plant, property and equipment 242 308
Intangible assets 23,803 12,486
Other 6,039 5,160
Total non-financial assets 30,113 17,954
Total assets 98,984 72,658
Liabilities    
Payables 26,271 20,476
Interest-bearing liabilities 3,105 2,443
Provisions 25,867 24,235
Total liabilities 55,243 47,154
Net assets 43,741 25,504

Notes to the balance sheet

Receivables

Receivables 2021-22
$'000
2020-21
$'000
Amounts owing from Victorian Government 65,719 53,249
GST input tax credit recoverable 1,263 1,126
Other receivables 1,889 329
Total receivables 68,871 54,704

Written-down value of property, plant and equipment

Written-down value of property, plant and equipment 2021-22
$'000
2020-21
$'000
Computer equipment 242 283
Plant, furniture and equipment - 7
Leasehold improvements / fitouts - 18
Total written-down value of plant, property and equipment 242 308

Written-down value of intangible assets

Written-down value of intangible assets 2021-22
$'000
2020-21
$'000
Other intangible produced assets* 9,246 7,773
Work in progress* 14,557 4,713
Total written-down value of intangible assets 23,803 12,486
* Capitalised and uncapitalised expenditure on e-Sys Life Extension Project 

Other non-financial assets

Other non-financial assets 2021-22
$'000
2020-21
$'000
Prepayments 2,937 2,598
Right of use plant and equipment 2,820 2,273
Motor vehicle leased 282 289
Total other non-financial assets 6,039 5,160

Current payables

Current payables 2021-22
$'000
2020-21
$'000
Current payables    
Unpresented cheques (275) (2,047)
Trade creditors 3,588 690
Accruals 20,158 18,851
Other payables 2,800 2,982
Total payables 26,271 20,476

Interest-bearing liabilities

Interest-bearing liabilities 2021-22
$'000
2020-21
$'000
Current liabilities    
Right of use lease liabilities 913 275
Motor vehicle leases 199 192
Total current liabilities 1,112 467
Non-current liabilities    
Right of use lease liabilities 1,882 1,879
Motor vehicle leases 111 97
Total non-current liabilities 1,993 1,976
Total interest-bearing liabilities 3,105 2,443

Provisions

Provisions 2021-22
$'000
2020-21
$'000
Current provisions    
Annual leave 7,500 6,633
Long service leave 12,998 12,861
Other Employee Entitlements 3,041 2,622
Total current provisions 23,539 22,116
Non-current provisions    
Long service leave 2,328 2,119
Total non-current provisions 2,328 2,119
Total provisions 25,867 24,235

Administered items

Administered revenues 2021-22
$'000
2020-21
$'000
Payroll tax 7,556,354 7,027,347
Mental health and wellbeing surcharge 414,849 -
Duties* 12,100,619 7,974,766
Land tax 4,141,935 3,239,629
Congestion levy 109,312 76,848
Growth Areas Infrastructure Contribution 361,364 197,300
Metropolitan planning levy 22,185 18,880
Fire services property levy 758,758 728,982
Commercial passenger vehicle service levy 44,981 26,971
Wagering and betting tax 257,748 186,451
Keno tax 1,517 -
Licence fees 25,842 4,453
Total 25,795,464 19,481,627
Less: cattle compensation fund (6665) (6000)
Less: swine compensation fund (206) (192)
Less: sheep and goat compensation fund (2317) (1410)
Add: unclaimed money receipts 89,440 98,205
Add: user charges 6,585 4,665
Add: sundry income 366 931
Total administered revenues 25,882,667 19,577,826

* Includes cattle compensation fund; swine compensation fund; and sheep and goat compensation fund

Administered expenses 2021-22
$'000
2020-21
$'000
First Home Owner Grant 210,020 274,329
HomeBuilder Grant 335,267 371,180
First Home Bonus 3 40
Liquor subsidies 5,034 5,383
Other grants, rebates and other payments 35,689 13,437
Unclaimed money refunds 10,413 11,442
Bad and doubtful debts 51,759 17,181
Total administered expenses 648,185 692,992
Net administered revenues 25,234,482 18,884,834

Notes to administered items

  • Tax and duty revenue increased by $6,313 million to $25,795 million. This included:
    • an increase of $529 million in payroll tax
    • $414 million in mental health and wellbeing surcharge which commenced from 1 January 2022;
    • an increase of $3,938 million in land transfer duty, and
    • an increase of $902 million in land tax.
  • Tax and duty revenues include reductions associated with business relief measures. Total relief provided in 2021-22 includes:
    • $1.811 million in land transfer duty,
    • $11.183 million in payroll tax, and
    • $1.136 million in congestion levy.
  • The fire services property levy increased by $29.776 million mainly due to the change of fixed charges and levy rates according to sections 11 and 12 of the Fire Services Property Levy Act.
  • Unclaimed money receipts represent monies transferred to the Registrar under the Unclaimed Money Act and the Gambling Regulation Act. There was a decrease of $8.765 million in the 2021-22 financial year.
  • The First Home Owner Grant decreased by $64.309 million. 
  • The HomeBuilder Grant was introduced to assist eligible owner-occupiers to build a new home, substantially renovate an existing home or buy off-the-plan. The grant applies to eligible contracts entered into between 4 June 2020 and 31 March 2021.  The application of the HomeBuilder Grant was closed on 14 April 2021.  There was a decrease of $35.913 million in the 2021-22 financial year.
  • Other grants, rebates and other payments increased by $22.252 million mainly due to an increase in ex gratia payments of $23.199 million.
  • The $34.578 million increase in bad and doubtful debts includes a decrease of $56.304 million in bad debts and an increase $90.882 million in the provision for doubtful debts.