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For the 2019-20 financial year, the Agency recorded an operating surplus after depreciation and
amortisation of $10.2 million.
The Agency is in a sound financial position as at the 30 June 2020, with financial assets of $13.8 million exceeding total liabilities of $3.0 million.
The increase in costs for 2019-20 reflects the continued establishment of the Agency and ramping-up of community engagement activities, as planned, as well as the broader remit associated with the national drought response and recovery activities.
The operating surplus for the Agency is attributed to the progressive and measured establishment of the Agency, coupled with constraints placed on the Agency due to COVID-19.
Despite the challenges associated with COVID-19 in particular, the Agency continues to deliver on its strategic objectives, including utilising alternate mechanisms for stakeholder engagement where appropriate.