Our financial summary shows key elements of our performance, with further detailed information in the Financial Statements and Notes. This year we received $3.1 billion in funding and invested more than $3.2 billion in managing the state road network.
Funding Sources
The largest contribution to our income is from the State Government totalling just under $1.8 billion or 55 per cent of total funds received
Our second highest contribution comes from the Commonwealth Government valued at more than $941 million. Programs funded through the Commonwealth include the new Regional Road Safety Program, Heavy Vehicle Safety and Productivity and the Black Spot Program along with funding for National Road Projects. Other income sources include the Royalties for Regions Program and contributions to roadworks on our infrastructure made by public and private bodies including PTA for METRONET and associated works.
| 2020 $ million |
2021 $ million | 2022 $ million |
|
|---|---|---|---|
| State | 1,489 | 1,694 | 1,797 |
| Commonwealth | 667 | 966 | 941 |
| Other | 190 | 1,499 | 367 |
| Total Funding Received | 2,346 | 4,159 | 3,105 |
Expenditure
During the year we spent $3.2 billion delivering services across the state.
Expenditure By Service
The following shows the allocation of these funds aligned against our six - outcome based Services. Further information on each of the services, the projects delivered, our performance and achievements are included in the Operational Performance section.
| 2020 $ million |
2021 $ million | 2022 $ million |
|
|---|---|---|---|
| Road Safety | 175 | 435 | 372 |
| Road Management | 174 | 191 | 192 |
| Road Efficiency | 563 | 589 | 900 |
| Community Access | 36 | 110 | 159 |
| Road Maintenance | 426 | 438 | 486 |
| State Development | 461 | 416 | 483 |
| Total Funding Received | 1,835 | 2,179 | 2,592 |
Expenditure By Type
As you might expect, capital works represent our largest expenditure. This is followed by supplies and services associated with asset management, network operations and maintenance of our road network. In addition, due to the size of our asset base, we have a significant amount of depreciation. The next biggest area of expenditure is associated with grants and subsidies primarily to local government assisting with the maintenance and improvement of the local road network.
| 2020 $ million |
2021 $ million | 2022 $ million |
|
|---|---|---|---|
| Employee benefits and superannuation | 66.0 | 76.0 | 78.2 |
| Supplies and services | 446.9 | 477.2 | 586.1 |
| Depreciation expense and amortisation | 396.1 | 415.3 | 450.2 |
| Grants and subsidies | 232.2 | 356.8 | 384.3 |
| Other expenses | 101.5 | 48.7 | 65.8 |
| Capital expenditure | 1,221.6 | 1,430.0 | 1,618.1 |
| Total Funding Received | 2,464.3 | 2,804.0 | 3,182.7 |
Our Assets
This year the total value of our assets is $59.6 billion which is an increase of $5.4 billion when compared against last year.
The major component of our assets is road infrastructure assets, making up 92 per cent of what we own representing $54.6 billion. Following is a breakdown of the main categories of assets we managed on behalf of the community over the last three years.
| 2020 $ billion |
2021 $ billion | 2022 $ billion |
|
|---|---|---|---|
| Roads and Principal Shared Paths | 15.9 | 16.9 | 19.1 |
| Land under roads | 22.9 | 25.2 | 26.8 |
| Bridges | 4.3 | 4.7 | 5.3 |
| Other infrastructure | 2.5 | 2.7 | 3.4 |
| Property and plant | 0.4 | 0.4 | 0.4 |
| Amounts receivable | 3.1 | 3.5 | 3.9 |
| Other assets | 0.5 | 0.8 | 0.7 |
| Total | 49.6 | 54.2 | 59.6 |
