The Department of Agriculture became the Department of Agriculture, Water and the Environment (DAWE) on 1 February 2020. For the purposes of this report DAWE will be used throughout. In addition, the Minister for Agriculture, Drought and Emergency Management was sworn in on 6 February 2020 and for the purposes of this report will be referred to as the Minister for Agriculture. If you do not have time to read this report in detail, look first in the following sections:

• For an outline of the FRDC’s investments and income, read pages i–iv and the financial statements starting on page 131.
• For an overview of operations during the past year, read the letter of transmittal (pages v–ix) and the directors’ review of operations and prospects starting on page 5.

More detailed coverage is in these sections:

• The FRDC’s national priorities are shown on pages 30, 36 and 39.
• Outcomes by recent and current projects are in the research, development and extension (RD&E) programs reporting starting on page 53 (Environment), page 66 (Industry), page 72 (Communities), page 79 (People) and page 84 (Adoption).
• Performance reporting for the Management and accountability program starts on page 107.
• Financial contributions by industry and governments are listed on pages i–iv and 149.
• Coverage of corporate governance information is in the section starting on page 117.
• The financial statements start on page 131.