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FUNDING

The income base of the consolidated IBA group comprises both grant and appropriation revenue from the Commonwealth as well as self-generated revenue. In 2019–20, IBA received $45.5 million in grant receipts, $9.5 million by way of appropriation, and $159.8 million in self-generated revenue. Of the $45.5 million in grant receipts, $18.0 million is related to the Business Relief Package, which will be expended during the 2020-21 financial year.

The self-generated revenue consists mostly of interest earnings, rental receipts from investment properties, and goods and services income from subsidiaries.

IBA also received $22.9 million by way of equity injection from the Commonwealth for use in providing home loans