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Analysis of TEQSA’s financial performance

For the 2019-20 financial year, TEQSA recorded a deficit of $2.14 million compared with a surplus of $0.75 million in 2018-19.

The 2019-20 Portfolio Budget Statements estimated an operating deficit of $0.79 million, which reflects the unfunded depreciation and amortisation expense.

The deficit in 2019-20 is primarily attributable to increased employee expenses relating to operating and project activities and the effect of the transition to the new lease standard AASB 16.