JavaScript is required

Notes to the financial statements for the financial year ended 30 June 2024

Notes

1The specific purpose of this supplementary funding has been disclosed in the State’s annual Financial Report. This funding has been fully applied in the current financial year.

2 The department is permitted under section 29 of the Financial Management Act to have certain income annotated to the annual appropriation. The department’s section 29 in the prior year related to Public Record Office of Victoria generating revenue from its reading room seminars, publications, and tenancy agreements until 31 December 2022.

3 Under section 30, the department may transfer an amount from one appropriation item to another in the current year. All expenses and obligations to which any section 30 transfer is applied must be reported in the financial year in which the transfer was made.

4 Section 32 constitutes the approved carryover of unapplied appropriations from the prior year to be applied against outputs in the current year.

5 Variances in output appropriations relate to unapplied appropriations for the outputs — Self-determination Policy and Reform Advice and Programs and Traditional Owner Engagement and Cultural Heritage Management Programs — that have been rephased and carried over from 2023–24 to 2024–25 for delivery next year.

6Payments to Victorian Government entities and other non–Victorian Government entities.

7 Payments to Victorian public non–financial corporations and other private businesses and individuals.

8 ‘Stronger policy outcomes for Victoria’ includes the impact of the transfer out of the Industrial Relations output and the transfer in of the Multicultural Affairs Policy and Programs output due to machinery of government changes effective from 1 February 2024.

9 Land at Government House was valued by the Valuer-General of Victoria as of 30 June 2022. The department does not hold any other land.

10 Buildings at Government House were valued by the Valuer-General of Victoria as of 30 June 2022. The department does not hold any other buildings.

11 Other heritage assets at Government House were valued by the Valuer-General of Victoria as of 30 June 2022. The department does not hold any other heritage assets.

12 This includes right-of-use assets relating to accommodation leases of the department (refer Note 5.1.1 (a) for further details.)

13 Carrying amount at the start of the 2022–23 financial year included public records and leasehold improvements which were transferred out of the department effective from 1 January 2023.

14Represents the balance of available appropriations relating to providing outputs as well as funds available for capital purchases for which payments had not been disbursed at the balance date and accordingly had not been drawn from the Consolidated Fund.

15 This relates to trusts transferred in and out of the department due to administrative restructures. Refer to Note 8.6 for details.

16 The Treasury trust was established under the Financial Management Act to record the receipt and disbursement of unclaimed monies and other funds held in trust.

17 The Intergovernmental Trust was established under section 19 of the Financial Management Act to record projects managed through interdepartmental fund transfers when no other trust arrangement exists.

18 The 2023 comparatives have been adjusted to exclude statutory officers and Administrative Office Heads and termination benefits to align with disclosure requirements of FRD 21.

19 The total number of executive officers includes people who met the definition of key management personnel of the entity under AASB 124 Related Party Disclosures and are also reported within the related parties note disclosure (Note 8.4).

20 The number of executives has decreased because of machinery of government changes that transferred out material functions in 2022–23 effective from 1 January 2023.

21 Annualised employee equivalent is based on the time fraction worked over the reporting period.

22 The net assets (liabilities) transferred were treated as a transfer of contributed capital provided by the State.

23 The State’s investment in its controlled entities is disclosed in the administered note of the Department of Treasury and Finance’s financial statements. This includes the investment in the department’s portfolio entities.

24 This includes funds in trust for the portfolio agencies held in the State’s public account.

25 This relates to Labour Hire Authority trusts transferred to the Department of Treasury and Finance due to administrative restructures taking effect on 1 February 2024.

27 This relates to timing of an upfront payment to Public Transport Victoria and receipt of amounts associated with the scheme by deductions from club members’ salaries

Updated