Financial performance at a glance
The following is a brief summary of the overall financial position of the agency. The information on this page is unaudited.
You can view the full audited financial statements for 2022-23 (PDF, 22.9 MB).
Statement of Comprehensive Income | 2022-23 Budget $000s | 2022-23 Actual $000s | Variation $000s
| Past year 2022-23 Actual $000s |
|---|---|---|---|---|
Total Income | 404 945 | 383 733 | (21 212) | 543 964 |
Total Expenses | 286 620 | 425 683 | (139 063) | 358 025 |
Net Result | 118 325 | (41 950) | (160 275) | 185 939 |
Total Comprehensive Result | 118 325 | (41 950) | (160 275) | 185 939 |
The department reported a $41.950 million negative net result for the 2022-23 financial year. This result is $160.275 million unfavourable when compared with the 2022-23 original budget, primarily due to the return of surplus cash to the Treasurer’s Consolidated Account, reduction in appropriation received due to a reprofiling of cashflows for Tarrkarri – Centre for First Nations Cultures, additional expenditure provided relating to new events and to grow existing events in South Australia and derecognition of assets where ICT infrastructure projects have ceased.
Statement of Financial Position | 2022-23 Budget $000s | 2022-23 Actual $000s | Variation $000s
| Past year 2022-23 Actual $000s |
|---|---|---|---|---|
Current assets | 46 538 | 336 799 | 290 261 | 383 913 |
Non-current assets | 354 615 | 149 252 | (205 363) | 143 869 |
Total assets | 401 153 | 486 051 | 84 898 | 527 782 |
Current liabilities | 35 296 | 26 781 | (8 515) | 28 438 |
Non-current liabilities | 13 562 | 12 532 | (1 030) | 11 521 |
Total liabilities | 48 858 | 39 313 | (9 545) | 39 959 |
Net assets | 352 295 | 446 738 | 94 443 | 487 823 |
Equity | 352 295 | 446 738 | 94 443 | 487 823 |
The department’s net assets as at 30 June 2023 were $94.443 million higher than original budget, primarily due to Adelaide Festival Centre precinct assets that were budgeted to transfer during 2022-23 which now transfer in 2023-24.
For further information please see the full audited financial statements for 2022-23 (PDF, 22.9 MB)