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Report on financial performance

In 2019–20, the Government provided ASD with $763.9 million in appropriation funding for ordinary annual services and a further $176.8 million for capital investment. Included in its appropriation was $23.3 million in new funding, provided to enhance ASD's capabilities in areas of high priority to the Government. Included in this amount, ASD received $6.3 million to compensate for unfavourable movements in foreign exchange. In addition, ASD received $4.1 million in cost recovery revenue from other government entities, primarily for the provision of TOP SECRET ICT services.

ASD's financial statements show a deficit attributable to the Australian Government of $99.2 million. When adjusted for depreciation, which is an unfunded Government-approved expense, ASD's result from operations in 2019–20 is a surplus of $32.3 million (4.2 per cent of revenue).

Throughout 2019–20, ASD's management has worked in partnership with the Department of Defence and the Department of Finance to continue to refine ASD’s financial management arrangements given ASD's change in status to an independent statutory agency. A formal review of the shared services arrangements between ASD and Defence will be conducted in the 2020–21 financial year.

ASD's financial statements, including a summary of ASD’s total resources and payments, is provided at Appendix B.

The nature of ASD's activities require it to continuously invest in talented people and new technology to ensure its capabilities remain contemporary and relevant to its functions. ASD established a Departmental Capital Budget through a transfer of funding from Defence, commencing in 2020–21 to provide funding for investment in future ASD capabilities.