DPC’s five-year financial summary
The following table summarises DPC’s financial results for 2023–24, with comparative results for the preceding four reporting periods. The results are prepared on the same basis as DPC’s financial statements in Section 4. A summary of the significant changes in DPC’s financial position are noted in the table below.
| Department-controlled activities | 2023–241 $’000 | 2022–232 $’000 | 2021–223 $’000 | 2020–214 $’000 | 2019–205 $’000 |
|---|---|---|---|---|---|
| Income from government | 453,975 | 704,136 | 650,501 | 607,413 | 726,920 |
| Total income from transactions | 482,262 | 732,602 | 694,868 | 642,804 | 818,062 |
| Total expenses from transactions | (482,734) | (730,538) | (675,126) | (632,174) | (825,276) |
| Net result from transactions | (472) | 2,064 | 19,742 | 10,630 | (7,214) |
| Net result for the period | (359) | 2,428 | 21,986 | 13,048 | (7,666) |
| Net cash flow from operating activities | 3,995 | 17,062 | 29,706 | 35,597 | 17,883 |
| Total assets | 412,004 | 351,436 | 1,118,658 | 881,214 | 866,022 |
| Total liabilities | 112,860 | 52,688 | 106,858 | 95,703 | 116,514 |
Notes
1 The decrease in 2023–24 income and expenditure is due to a decrease in the overall level of operations. 2022–23 included the first six months of activities from major functions that transferred to DGS as a result of machinery of government changes effective 1 January 2023 along with increased election activities. The assets and liabilities increased due to the timing of payables associated with Multicultural Affairs functions that transferred from DFFH.
2 The increase in 2022–23 income and expenditure is due to expenses associated with the State Election incurred by the Victorian Electoral Commission. The assets and liabilities decreased as a result of the transfer of functions from DPC due to machinery of government changes effective from 1 January 2023.
3 The increase in 2021–22 income and expenditure is mainly due to new government initiatives delivered during the year, including digital vaccination certification, the business licensing initiative and the development of the Digital Victoria Marketplace. In addition, there is an increase associated with 2022 State Election readiness. Assets increased as a result of revaluation from formal valuation of property, plant and equipment. Departmental liabilities increased as a result of higher employee leave liabilities and provision for the early retirement packages announced during the year.
4 The decrease in 2020–21 income and expenditure is mainly due to machinery of government changes where Fairer Victoria transferred from DPC to DFFH on 1 February 2021, and Bushfire Recovery Victoria transferred to the Department of Justice and Community Safety from 1 July 2020. An increase in assets is driven by asset revaluations. Transfer of employee and supplier liabilities to the DFFH contributed to a decrease in liabilities.
5 The increase in 2019–20 income and expenditure is mainly due to bushfire recovery activities and responses to the COVID-19 pandemic. DPC’s assets decreased due to reductions in financial assets from using funding received in prior financial years and due to machinery of government decisions where functions were transferred from DPC.
Updated