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Financial performance reporting

Summary of financial results

Table 2 summarises information from the Board’s financial reports for the 2022–23 financial year. It includes comparative results from the previous 4 financial years.

Table 2: Five-year financial summary

Result

30 June 2023
$’000

30 June 2022
$’000

30 June 2021
$’000

30 June 2020
$’000

30 June 2019
$’000

Total income from transactions

38,751

37,975

36,869

37,294

41,592

Total expenses from transactions

35,199

37,674

33,314

34,853

35,411

Net result from transactions

3,552

301

3,555

2,441

6,181

Other economic flows included in net result

(4)

10

122

80

6

Net result for the period

3,548

311

3,677

2,521

6,187

Net cash flow from operating activities

136

Total assets

30,355

28,833

26,179

19,981

51,128

Total liabilities

3,240

5,266

2,923

402

1,673

Revenue

Total income increased by $0.8 million in 2022–23 with the receipt of an additional $0.4 million in funding for pre-accredited training (rate increase) and a $0.3 million increase in services received free of charge from the department.

Expenses

During 2022–23, expenses were $2.5 million lower – primarily due to reduced grant payments resulting from a combination of contract extensions and lower accruals. Note that although reported training delivery can be delayed from a financial year perspective, training delivery is contracted for completion over a calendar year.

Updated