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Chief Finance Officer's report

Summary

Chief Finance Officer Nick Shaw

This financial summary provides an overview of the department’s financial results for 2017–18. A comprehensive set of financial statements covering all of the department’s activities is provided in this report. 

The department recorded an operating surplus of $207 million for the 2017–18 financial year.

Financial performance

Category 2016–17
$'000
2017–18
$'000
Total income 5,776,159 6,006,492
Total expenses 5,596,725 5,799,630
Operating result for the year 179,434 206,862

Commonwealth Games

In the financial year 2017–18, the Queensland Government in partnership with the Gold Coast Commonwealth Games Corporation and the City of Gold Coast Council successfully delivered the Gold Coast 2018 Commonwealth Games. The department played a major role in the event by successfully coordinating an integrated transport network for spectators, workforce, commuters and athletes. 

Funding sources

Funding to meet departmental requirements is received from the Queensland Government, own sourced revenue, and from allocations from the Australian Government. Key drivers of the department’s funding includes the delivery of capital investment in the roads and transport infrastructure network and in the provision of our key objectives through operational service delivery.

Administered revenue

The department administers certain resources on behalf of the Queensland Government. The main source of administered revenue is from user charges and fees for motor vehicle registrations, traffic fines, and other regulatory fees and fines.

Financial performance

Income

Income by category for the year ended 30 June 2018

 Show chart data 

Total income for the year was $6.006 billion. This included appropriation revenue from the Queensland Government of $4.961 billion, user charges of $723 million and grants and other contributions of $271 million. In 2017–18 the department’s total income has increased by $230 million mainly due to increased appropriation revenue representing accelerated funding for capital programs including the Bruce Highway Upgrade and other state controlled roads.

Expenses

 

Expenses by category for the year ended 30 June 2018

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Total expenses for the department were $5.800 billion. Supplies and services is our largest spend category, accounting for 61% of total expenditure. A key driver of this is payments to operators of rail, bus, air and ferry services which represents approximately 43% of total spend. Total capital expenditure in 2017–18 was $3.180 billion. Key to this is our investment in roads and transport infrastructure that originates from the Queensland Transport and Roads Investment Program (QTRIP).

Read more in our annual report