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Five-year financial summary

The financial statements presented in this Annual Report relate to the controlled operations of the department, including government schools.

Other entities in the portfolio report separately, so their results are not included in the controlled financial transactions of the department. These include the ACFE Board, Adult Multicultural Education Services (AMES), VATL, Victorian Curriculum and Assessment Authority (VCAA), Victorian Institute of Teaching (VIT), VRQA, and TAFE institutes.

The following table summarises the department’s financial results for the financial year just completed and provides comparative information for the previous 4 years.

Five-year financial summary

Five-year financial summary

2021–22
$m

2020–21
$m

2019–20
$m

2018–19
$m

2017–18
$m

Operating revenue

Output appropriation [1]

14,834.4

16,133.9

14,887.5

13,815.7

12,816.0

Other revenue

926.2

597.9

830.4

927.6

834.7

Total income from transactions

15,760.6

16,731.6

15,717.9

14,743.3

13,650.7

Total expenses from transactions

15,276.4

16,121.4

15,118.1

14,073.5

13,328.5

Net result from transactions

484.2

610.2

599.8

669.8

322.2

Total other economic flows

190.3

50.5

(39.2)

(98.1)

(10.3)

Net result for period

674.5

660.7

560.6

571.7

311.9

Net cash flow from operating activities

813.7

605.7

1220.3

1,047.1

790.0

Total assets

40,627.2

33,535.4

29,228.9

27,846.8

27,771.7

Total liabilities

3,349.1

3,302.9

3,355.5

3,022.0

2,809.3

Net assets

37,278.1

30,232.5

25,873.4

24,824.8

24,962.4


[1] Output appropriation is the main source of recurring funding from the Victorian Government.

Updated