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 $3.1 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
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