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Finances overview

In 2018–19, the Authority continued to successfully deliver key Reef initiatives including the Reef 2050 Integrated Monitoring and Reporting Program (RIMReP), Marine Monitoring Program, Land and Sea Country Partnerships Program, Crown-of-thorns Starfish Control Program, field management activities, capacity building for Aboriginal and Torres Strait Islander rangers, and education, stewardship and partnership programs.

The total operating revenue for 2018–19 was $79.707 million, compared with $78.880 million for 2017–18. Revenue by source is outlined in Figure 3.

As part of the 2018–19 Mid-Year Economic Fiscal Outlook, the Authority recognised $4.058 million increased funding from the Queensland Government for the Reef Joint Field Management Program. This was to match the increase in funding committed by the Commonwealth in 2017–18, maintaining the 50:50 joint government contribution. This, together with the previously agreed indexing, provided a $4.5 million increase from the Queensland Government from 2017-18 to 2018-19.

In 2018–19, the Authority also received additional funding of $0.385 million from the Department of Foreign Affairs and Trade for the International Coral Reef Initiative.

Own source income includes support for the continuation of the Authority’s work and measures to improve the outlook for the Great Barrier Reef being funded from the Reef Trust and the Department of the Prime Minister and Cabinet. This is included in funding from ‘related entities’.

Related entities are bodies that either form part of, or are controlled by, the Australian Government. In Figure 2, ‘related entity’ refers primarily to funds received from the Department of the Environment and Energy. Own source income for 2018–19 was $26.486 million, $12.705 million less than in 2017–18 — attributed to a decrease in grants received from government through memorandum of understanding and this decrease being offset through an increase in revenue received through departmental approprotion.

The Australian and Queensland governments provided matching funding for field management of the Marine Park, which the Authority implemented in partnership with the Queensland Department of Environment and Science.

The operating expense for managing the Marine Park in 2018–19 was $78.268 million, compared with $68.241 million for 2017–18. Expenses for suppliers were $2.747 million more than that for 2017–18. The expenses by category are outlined in Figure 3.

The Authority’s end of financial year position for 2018–19 was a $9.282 million deficit owing primarily to non-financial assets at the Reef HQ Aquarium being written down in value by $10.721 million. This write-down has been offset by grants received from Government where suppliers were not able to be contracted during 2018–19 (these funds will be expended in 2019–20).

Revenue by source 2018-19 excluding Douglas Shoal remediationRevenue by source 2018-19 excluding Douglas Shoal remediationExpenses by category excluding Douglas Shoal remediationExpenses by category excluding Douglas Shoal remediation