Finance

CFO Statement

The EPA has achieved a responsible financial outcome for the 2021–22 year. There were operational challenges such as COVID-19, natural disasters and significant contamination remediation that had financial impacts that are reflected in the results.

The EPA’s operating result was a deficit of $2.3 million. Total expenses of $281.8 million increased from last year by $69.1 million. This was principally driven by increased activity in the flood and bushfire clean-up programs.

Total revenue of $279.5 million is an increase from last year by $63.5 million due mainly to an increase in grants and contributions to fund project related activities. Our cash position is strong at $35.1 million, which is $1.8 million higher than last year. Our net assets are $35.7 million, up slightly on last year. These are the indications of a solid, stable position upon which to build into the future.

Mary Perera
Chief Financial Officer, EPA