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Our agency achieved an operating surplus of $0.825 million (before depreciation and amortisation) in 2015–16 compared with a $2.032 million deficit in 2014–15. The surplus can be attributed to lower supplier expenses following the successful implementation of the Emissions Reduction Fund in 2014–15 and an associated decrease in the use of short-term contract resources. This was partially offset by an increase in employee provisions as a result of the change in the bond rate from 3.0 per cent to 2.0 per cent during the year.
In 2015–16 the agency received revenue from government totalling $72.974 million compared with $76.648 million in 2014–15. The reduction in funding reflects the transition from a start-up agency to a more mature agency. Some of Australian Government savings measures and efficiency dividends have also contributed to this reduction.
The decrease in other comprehensive income ($0.095 million) reflects changes in the make good provision for the potential restoration of the leased office building at the completion of the lease in May 2017.
The agency's expenses have decreased by $6.253 million (seven per cent) from $91.943 million in 2014–15 to $85.690 million in 2015–16. The decrease is primarily due to a reduction in supplier expenses and lower impairment and write-down of assets during the year, partly offset by an increase in employee benefits. The reduction in supplier expenses is associated with lower contractor costs as a result of the successful implementation of the Emissions Reduction Fund during 2014–15.
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 2015–16.
Administered income decreased by $52.270 million (78 per cent) in 2015–16 as the result of:
Administered expenses have decreased by $27.507 million (16 per cent) largely driven by:
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.