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OPC’s financial performance

The surplus attributable to the Australian Government for OPC for 2019-2020 was $1.157 million (after adding back non-cost recovered depreciation and the impact of AASB 16 Leases, this resulted in a surplus of $2.083 million). This compares to a surplus of $0.370 million for 2018-2019 (after adding back non-cost recovered depreciation, a surplus of $1.087 million).

Revenue from government increased by $1.363 million to $17.298 million in 2019-2020, compared to $15.935 million in 2018-2019.

Own-source revenue increased by $0.634 million to $6.661 million in 2019-2020, compared to $6.027 million in 2018-2019.

Total expenses increased by $1.210 million to $22.802 million in 2019-2020, compared to $21.592 million in 2019-2020.

Employee expenses increased by $0.906 million to $16.759 million in 2019-2020, compared to $15.853 million in 2019-2019.

Supplier expenses decreased by $0.893 million to $3.866 million in 2019-2020, compared to $4.759 million in 2018-19 mainly due to the implementation of AASB 16 Leases.

Depreciation and amortisation expenses increased by $1.126 million to $2.102 million in 2019-2020, compared to $0.976 in 2018-2019 mainly due to the implementation of AASB 16 Leases.

At 30 June 2020, OPC had net assets (assets less liabilities) of $18.374 million, compared to $15.777 million at 30 June 2019.

At 30 June 2020, OPC had financial assets of $22.056 million. This includes $18.635 million of undrawn appropriations that are held in the Official Public Account under the Government’s just-in-time drawdown arrangements, and cash at bank of $0.772 million.

The Entity Resource Statement and expenses by outcome are set out in Appendix A.