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Other financial information

Financial management compliance

Attestation for compliance with Ministerial Standing Direction 5.1.4

Department of Premier and Cabinet

I, Jeremi Moule, the Secretary of the Department of Premier and Cabinet, certify that the Department of Premier and Cabinet has no Material Compliance Deficiency with respect to the applicable Standing Directions under the Financial Management Act 1994 and Instructions.

Jeremi Moule
Secretary
Department of Premier and Cabinet
Melbourne

13 September 2023

Wage Inspectorate Victoria

I, Robert Hortle, the Commissioner of the Wage Inspectorate Victoria, certify that the Wage Inspectorate Victoria has no Material Compliance Deficiency with respect to the applicable Standing Directions under the Financial Management Act 1994 and Instructions.

Robert Hortle
Commissioner
Wage Inspectorate Victoria
Melbourne

21 July 2023

Financial performance

Significant factors that affected DPC’s performance in 2022–23 are summarised below.

DPC recorded a net profit result from operations of $2.1 million for 2022–23.

The profit result is primarily due to timing of trust funds operation, where funds received during 2022–23 will be expended in future years.

Sources of income ($ million)

A pie chart in two segments showing the source of income in millions of dollars. One segment of the pie chart is the income from government appropriations and makes up 96% ($704.1 million). The other segment is other income and makes up 4 % ($28.5 million).

The above graph shows the sources of income available to DPC during the 2022–23 financial year.

DPC’s main source of income is from government appropriations, which account for 96 per cent of income. The balance is derived from government grants and services.

Compared with 2021–22 the overall increase in DPC’s income is mainly due to an increase associated with 2022 State Election funding. This resulted in higher government appropriations.

Expenses ($ million)

A pie chart in three segments showing expenses in millions of dollars. One segment of the pie chart is employee expenses and makes up 32% ($234.9 million). One segment is grant expenses and makes up 48% ($353.4 million). One segment shows other expenses and makes up 20% ($142.2 million).

The above graph shows the distribution of expenses in delivering DPC’s services.

DPC’s total expenses have increased by $55.4 million compared with 2021–22. This is mainly due to increased expenditure for the 2022 State Election and increased grant payments towards the Self-Determination Fund and Breakthrough Victoria.

Financial position — balance sheet

DPC’s assets and liabilities have decreased due to the transfer of functions from DPC following machinery of government changes effective from 1 January 2023.

Cash flows

DPC had a net cash inflow from operating activities of $17.1 million. Compared with last year, this is a $12.6 million decrease. This decrease is mainly due to an overall decrease in level of operational activity due the transfer of major functions following the machinery of government changes, including the timing of payment of liabilities.

Direct costs attributable to machinery of government changes

There were no direct costs attributable to the machinery of government change that have been incurred by the entities that are consolidated into DPC’s annual report pursuant to section 53(1)(b) of the Financial Management Act 1994.

Subsequent events

Refer to the section on subsequent events at Note 8.10 in DPC’s financial statements.

Capital projects / asset investment

During 2022–23 DPC did not have any completed projects that met the disclosure threshold of $10 million or greater.

Updated

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