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Financial performance

During 2019–20, the AAO resulted in changes to the department’s responsibilities and an increase in the size of the department and associated appropriation funding. For the full financial year, the department reported a departmental surplus of $4.3 million after adjusting for unfunded expenses. This result compares to a surplus of $2.8 million reported in 2018–19 for the Department of Education, and a $7.8 million deficit reported in 2018–19 for the Department of Employment, Skills, Small and Family Business. The department’s financial position also reflects the material impact of the introduction of the new Australian Accounting Standards Board (AASB) 16 Leases.

Over 2019–20, the department administered $47.2 billion of expenses on behalf of the government, of which $32.4 billion represented grants to schools and higher education facilities. In response to COVID-19, the additional funding was provided to programs such as employment services, Non-government Schools National Support, and Building Skills and Capability.

Information on the department’s 2019–20 financial performance is available in Part 4 Financial Statements of this report.