Our Finances
Our financial summary shows key elements of our performance, with further detailed information in the Financial Statements and Notes. This year we received $3.6 billion in funding and invested more than $3.8 billion in managing the state road network.
The largest contribution to our income is from the State Government totalling $2.2 billion or 61 per cent of total funds received.
Our second highest contribution comes from the Commonwealth Government valued at more than $1.1 billion. 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 from the Commonwealth also include through the National Partnership on Infrastructure Projects in Western Australia, totalling $0.143 million.
| 2021 | 2022 | $ million 2023 |
|
|---|---|---|---|
| State | 1,694 | 1,797 | 2,205 |
| Commonwealth | 966 | 941 | 1,143 |
| Other | 1,499 | 367 | 282 |
| Total Funding Received | 4,159 | 3,105 | 3,630 |
Expenditure
During the year we spent funds of $3.8 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.
| 2021 | 2022 | $ million 2023 |
|
|---|---|---|---|
| Road Safety | 435 | 372 | 356 |
| Road Management | 191 | 192 | 217 |
| Road Efficiency | 589 | 900 | 1,138 |
| Community Access | 110 | 159 | 230 |
| Road Maintenance | 438 | 486 | 601 |
| State Development | 416 | 483 | 471 |
| Total expenditure | 2,179 | 2,592 | 3,013 |
Expenditure by Type
Capital works represent our largest expenditure followed by supplies and services. As you might expect depreciation is a significant expenditure type due to our significant asset base. Grants and subsides are largely made to local government assisting with maintenance and improvement of local roads.
| 2021 | 2022 | $ million 2023 |
|
|---|---|---|---|
| Employee benefits and superannuation | 76.0 | 78.2 | 103.5 |
| Supplies and services | 477.2 | 586.1 | 641.5 |
| Depreciation expense and amortisation | 415.3 | 450.2 | 533.8 |
| Grants and subsidies | 356.8 | 384.3 | 415.1 |
| Other expenses | 48.7 | 65.8 | 45.3 |
| Capital expenditure | 1,430.0 | 1,618.1 | 2,019.8 |
| Total expenditure | 2,804.0 | 3,182.7 | 3,759.0 |
Our Assets
This year the total value of our assets is $66.7 billion which is an increase of $7.1 billion when compared against last year.
The major component of our assets is road infrastructure assets, making up 92% of what we own representing $61 billion. Following is a breakdown of the main categories of assets we managed on behalf of the community over the last three years.
| 2021 | 2022 | $ million 2023 |
|
|---|---|---|---|
| Roads and Principal Shared Paths | 16.9 | 19.1 | 19.3 |
| Land under roads | 25.2 | 26.8 | 29.1 |
| Bridges | 4.7 | 5.3 | 6.2 |
| Other infrastructure | 2.7 | 3.4 | 6.3 |
| Property and plant | 0.4 | 0.4 | 0.5 |
| Amounts receivable | 3.5 | 3.9 | 4.3 |
| Other assets | 0.8 | 0.7 | 1 |
| Total expenditure | 54.2 | 59.6 | 66.7 |