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Finance

Chief Finance Officer report

Photograph of Adam Black CPA, Assistant Director-General, Finance, Chief Finance Officer

Adam Black
Assistant Director-General, Finance and Chief Finance Officer

The 2009-10 financial year has seen considerable change in both the economic and fiscal environment in which the department operates.

On 1 July 2009, the new Financial Accountability Act 2009 (FA Act) came into force, bringing changes to the legislative framework within which Queensland Government agencies operate.

While accountability for the department's operations rest with the Director-General, under the FA Act, the responsibilities of the CFO have broadened. In addition to the more traditional financial governance and administration role, the CFO is now also a business enabler in organisational planning and decision making.

The FA Act requires the accountable officer to delegate to the CFO the following responsibilities: financial internal controls, budget management, reporting, financial management information systems, financial implications and risks to services, and strategic options for the department's future financial management and capability.

In 2009-10, the Director-General established the Investment Committee. A key achievement of the committee was the development of a financial sustainability framework and plan that will ensure the department is fiscally prepared, not just for the 2010-11 financial year, but for the challenges of the next decade.

The delivery of financial services within the department was realigned during 2009-10 to provide a finance function that supports the CFO's responsibilities and has the agility to meet the organisation's needs in a rapidly changing educational and training environment. The realignment included the integration of Corporate and Professional Services, the previous shared service provider.

In accordance with the requirements of section 77(2)(b) of the FA Act, I have provided the Director-General with a statement that the financial internal controls of the department are operating efficiently, effectively and economically in conformance with section 57 of the Financial and Performance Management Standard 2009. As CFO, I have therefore fulfilled the minimum responsibilities as required by section 77(1)(b) of the Act.

2009-10 has seen a continued impact from the global financial crisis on the national and Queensland economies.

The Australian Government introduced a number of stimulus measures, which are continuing to flow through the economy. A significant amount of the stimulus funding has been directed at infrastructure projects, including schools and early childhood facilities. In this economic context, training and skills development are critical.

The general economic environment has put pressure on recurrent expenditures. The department responded by further increasing efficiencies, including making better use of new technologies to reduce administrative expenses and redirecting resources to front-line service delivery.

The department is financially well positioned to meet its objectives, as described in the Strategic Plan 2010-2014, and the challenges of the future.

Adam Black CPA
Assistant Director-General, Finance
Chief Finance Officer

Table 2: Financial snapshot

Financial snapshot

2009-10
$(000)

2008-09
$(000)

2007-08
$(000)

2006-07
$(000)

2005-06
$(000)

Controlled revenue

  • Departmental services revenue

6 361 623

5 434 806

4 845 846

4 461 478

3 752 162

  • Other revenue

688 447

1 154 354

1 275 176

1 117 747

733 054

Controlled expenses

7 048 818

6 588 438

6 120 394

5 530 523

4 474 541

Operating surplus/(deficit)

1 252

722

628

48 702

10 675

Administered grants

614 699

751 606

668 111

655 699

684 401

Capital outlays

2 063 375

680 344

674 710

652 911

533 208

Total assets

18 423 318

17 470 605

16 871 239

15 485 397

12 205 538

Total liabilities

1 241 759

957 913

937 659

721 626

586 308

Net assets/(liabilities)

17 181 559

16 512 692

15 933 580

14 763 771

11 619 230

Employee expenses ($000)

4 981 683

4 718 681

4 429 245

3 934 980

3 346 039

Number of employees
at 30 June (FTE)

65 829

63 732

63 445

61 972

54 910

Source: Department of Education and Training

Notes:

  1. Due to machinery-of-government changes, Early Childhood Education and Care functions were transferred from the Department of Communities on 1 January 2009. On 31 March 2009, Arts Queensland (including Corporate Administration Agency) was transferred to the Department of the Premier and Cabinet.
  2. Due to machinery-of-government changes in 2006, Training is included in figures from 2006-07.

For a comprehensive set of financial statements covering all aspects of the department's activities, see Financial statements (new window) 3.1M Adobe PDF document. No totals have been adjusted for commercial-in-confidence requirements.

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