DH Annual Report 2023-24 Budget portfolio outcomes

This is a machine-readable version of the budget portfolio outcomes dataset from the Department of Health 2023-24 Annual Report.

__Tables:__

* Comprehensive operating statement for the financial year ended 30 June 2024
* Balance Sheet as at 30 June 2024
* Cash flows statement for the financial year ended 30 June 2024
* Statement of changes in equity for the financial year ended 30 June 2024
* Administered items statement for the financial year ended 30 June 2024

# 6.1 Budget Portfolio Outcomes

The budget portfolio outcomes provide comparisons between the actual financial statements of all general government sector entities in the portfolio and the forecast financial information (initial budget estimates) published in Budget Paper No. 5 Statement of Finances 2023–24 (BP5).

The budget portfolio outcomes comprise the comprehensive operating statement, balance sheet, statement of cash flows, statement of changes in equity, and administered items statement for the financial year 2023–24.

The budget portfolio outcomes have been prepared on a consolidated basis and include all general government sector entities within the portfolio. Financial transactions and balances are classified into either controlled or administered categories consistent with the published statements in BP5.

The budget portfolio outcomes statements are not subject to audit by the Victorian Auditor-General’s Office and are not prepared on the same basis as the department’s financial statements as they include the consolidated financial information of the following entities:

* the Department of Health
* public hospitals and public health services
* multipurpose services
* Ambulance Victoria
* HealthShare Victoria
* Victorian Assisted Reproductive Treatment Authority
* Victorian Institute of Forensic Mental Health
* Mental Health Tribunal
* Tweddle Child and Family Health Service
* The Queen Elizabeth Centre
* Victorian Health Promotion Foundation.

The budget portfolio outcomes statements include funding from the Commonwealth Government and revenue from the sale of services attributed to the department from the state government. They also include income and expenses associated with funding for the National Health Reform Agreement, which is reported in the department’s administered accounts. 

## Funding arrangements under the National Health Reform Agreement

The 2023–24 administered items statement reflects the funding contributions from the state and Commonwealth through the Victorian State Pool Account under the arrangements of the National Health Reform Agreement (NHRA).

NHRA arrangements provide Victorian and Commonwealth activity-based funding directly to health services from the Victorian State Pool Account, which is overseen by the Administrator of the National Health Funding Pool. This is reported in the department’s administered accounts.

The administered accounts include the state and Commonwealth contributions to activity-based funding, cross-border contributions, payment to the department’s controlled entity of Commonwealth contributions for block-funded health agencies, as well as NHRA public health funding.

## Financial performance – operating statement

In 2023–24, the portfolio recorded an actual net result from transactions of $1,061 million deficit compared with a 2023–24 published budgeted deficit of $272 million.

The variance between the budgeted and actual deficit is mainly due to increased payments to non-government organisations such as denominational hospitals and community health services. In addition, there was an increase in health service costs for outsourced services.

## Financial position – balance sheet

Total assets are $5,408 million higher than the published budget. This is mostly attributed to the 5 yearly scheduled revaluation of land and building assets across the portfolio in accordance with Financial Reporting Direction FRD103. 

Total liabilities are $224 million higher than the published budget as a result of higher public health services’ lease liability.

## Cash flows

The overall cash position at the end of the 2023–24 financial year is $2,784 million, which is $1,571 million lower than the published budget for 2023–24.

The variance is mainly driven by lower cash held in portfolio health agencies as at 30 June 2024.

Detailed financial results for the 2023–24 portfolio budget and actual results are included in the following pages.

Tags: 2023 to 2024, Budget Portfolio Outcomes, Department of Health, accessibility, annual report, machine-readable
Organization: Department of Health