Summary of financial results
Table 2 summarises information from the board’s financial reports for the 2023–24 financial year. For comparison, it includes results from the previous 4 financial years.
Table 2: Five-year financial summary
| Result | 30 June 2024 $’000 | 30 June 2023 $’000 | 30 June 2022 $’000 | 30 June 2021 $’000 | 30 June 2020 $’000 |
|---|---|---|---|---|---|
| Total income from transactions | 40,179 | 38,751 | 37,975 | 36,869 | 37,294 |
| Total expenses from transactions | 36,793 | 35,199 | 37,674 | 33,314 | 34,853 |
| Net result from transactions | 3,386 | 3,552 | 301 | 3,555 | 2,441 |
| Other economic flows included in net result | (9) | (4) | 10 | 122 | 80 |
| Net result for the period | 3,377 | 3,548 | 311 | 3,677 | 2,521 |
| Net cash flow from operating activities | – | – | – | – | 136 |
| Total assets | 31,807 | 30,355 | 28,833 | 26,179 | 19,981 |
| Total liabilities | 1,315 | 3,240 | 5,266 | 2,923 | 402 |
Revenue
Total income increased by $1.4 million in 2023–24 with the receipt of an additional $0.4 million in funding for pre-accredited training (rate increase), $0.5 million related to machinery of government changes and a $0.4 million increase in services received free of charge from the department.
Expense
During 2023–24, expenses were $1.6 million higher – $1.3 million incurred on the Learn Local Brand Awareness Campaign and a $0.4 million increase recognised in services provided free of charge.
Updated