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Analysis of TEQSA's financial performance
For the 2018-19 financial year, the agency recorded a surplus of $0.74 million compared with a deficit of $0.53 million in 2017-18.
The 2018-19 Portfolio Budget Statements estimated an operating deficit of $0.89 million, which reflects the unfunded depreciation and amortisation expense.
The achievement of an operating surplus in 2018-19 is primarily attributable to the timing of recruitment activities. This has been partially offset by an increase in supplier expenses associated with contractors, experts and IT expenditure. The agency engages contractors and experts to support application-based activities, and to temporarily fill positions arising from staff movements and timing of recruitment activities.