Go to top of page

Financial performance

The work of the department is mainly funded by government appropriation, with a small amount of revenue generated from the sale of publications and from the department’s seminar program. The department ended the 2018–19 financial year reporting a surplus of $1.8 million (before depreciation). This varied from the breakeven position forecast in the department’s Portfolio Budget Statements 2018–19 (PBS). The department incurred total employee benefits of $19.326 million in 2018–19, $1.643 million lower than the budget estimate reported in the 2018–19 PBS, but only slightly lower than the employee benefits incurred in 2017–18 ($19.410 million). The underspend was primarily due to a number of positions remaining vacant throughout the reporting period due to unexpected delays in recruitment processes along with the impact of the election period on staffing requirements.

Supplier expenses increased slightly between 2017–18 ($4.983 million) and 2018–19 ($5.243 million). This increase was as expected for this year in the parliamentary cycle and the expended amount only slightly exceeded the supplier expenses budgeted in the PBS budget estimate ($5.150 million) by $0.093 million.

The department’s financial position has remained strong with appropriation receivable totalling $17.779 million and cash and cash equivalents of $0.617 million. In addition, the department has an amount of $2.546 million on deposit with the purpose of earning interest which is spent on inter−parliamentary relations activities in Pacific parliaments in accordance with a delegation from the Finance Minister.

During the year, the department engaged a valuation specialist to perform a full revaluation of its property, plant and equipment class. The independent valuer’s report concluded that a write-down of $0.429 million was required to fairly represent the value of the assets at 30 June 2019. This amount was recorded in other comprehensive income and in the asset revaluation reserve.

In December 2018, the department transferred assets to DPS as part of the consolidation of status B furniture across the parliamentary departments. The assets were transferred to DPS for no consideration and were recognised as a distribution resulting in a reduction in equity of $2.519 million.

The department’s overall financial position continued to remain sound in 2018–19:

  • total financial assets increased by $2.154 million from the prior year to $21.207 million, reflecting an increase in appropriation receivable
  • total liabilities decreased by $0.044 million to $6.808 million.

The estimates for 2019–20 indicate that the department has sufficient resources to continue to support members, the House and committees.

Entity resource statement 2018–19

Actual available appropriation

for 2018–19

$’000

Payments made

018–19

$’000

Balance remaining

2018–19

$’000

(a)

(b)

(a) – (b)

Departmental1

40,967

22,748

18,219

Annual appropriation2

Total

40,967

22,748

18,219

Administered expenses

313

330

(17)

Outcome 13

Total

313

330

(17)

Total resourcing

41,280

23,078

18,202

Total net resourcing and payments for the Department of the House of Representatives

41,280

23,078

  1. Appropriation (Parliamentary Departments) Act (No. 1) 2018–19, prior year departmental appropriation and section 74 retained revenue receipts.
  2. Includes an amount of $0.637 million in 2018–19 for the departmental capital budget. For accounting purposes, this amount has been designated as ‘contributions by owners’.
  3. Appropriation (Parliamentary Departments) Act (No. 1) 2018–19.

Third-party drawdowns from and on behalf of other entities

$’000

Payments made on behalf of the Department of Finance (disclosed in the respective entity’s resource statement)

48,534