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Summary of Financial Performance

Departmental finances

Operating result

Our agency achieved an operating surplus of $7.591 million (before depreciation and amortisation) in 2016–17, largely attributable to revaluation adjustments ($5.510 million) and the renegotiation and subsequent removal of the make-good provision ($1.868 million) related to the renewal of the agency’s office accommodation.

Operating budget

Our operating expenditure budget for 2016–17 was $71.446 million excluding depreciation. Refer to Note 1.1 of the financial statements.

Graph 8: Operating expenditure 2016–17
Graph 8: Operating expenditure 2016–17
Capital Investment

Our capital expenditure budget for 2016–17 was $2.833 million consisting of:

  • departmental capital budget of $1.183 million
  • prior year equity of $1.500 million, and
  • current year equity injection of $0.150 million.
Graph 9: Capital investment by category 2016–17
Graph 9: Capital investment by category 2016–17
Invested capitalInvestment by percentage
Internally developed software (work in progress)72%
Internally developed software24%
Plant and equipment4%

Our systems are designed to support multiple schemes with the intent of improving the client experience, reducing client burden and improving efficiency for the agency.

Graph 10: Capital investment in schemes 2016–17
Graph 10: Capital investment in schemes 2016–17
Capital investment areaInvestment by percentage
Schemes86%
Agency administration14%

Refer to Note 3.2 of the financial statements.

Administered finances

Our agency administered the Emissions Reduction Fund, Renewable Energy Target, and residual items relating to the carbon pricing mechanism on behalf of the government in 2016–17.

Administered income

Administered income was $161.667 million and came entirely from the Renewable Energy Target.

Graph 11: Administered income 2016–17
Graph 11: Administered income 2016–17
Administered incomeAdministered income by percentage
Shortfall penalty92%
Registration of certificates6%
Surrender of certificates2%

Refer to Note 2.2 of the financial statements.

Administered expenses

Administered expenses were $309.233 million, predominantly in the Emissions Reduction Fund and Renewable Energy Target. Refer to Note 2.1 of the financial statements.

Graph 12: Administered expenses 2016–17
Graph 12: Administered expenses 2016–17
Administered expenseAdministered expenses by percentage
Emissions Reduction Fund52%
Renewable Energy Target provision for refund, large-scale shortfall44%
Carbon pricing mechanism3%
Renewable Energy Target inspections1%

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