The Regulatory Operations Metro team working on the surveillance of NSW flood response. Photo: EPA
In 2020–21, the EPA maintained its sound financial position while responding to the challenges that came from changes within the business and the operating environments.
The independent audit report confirms that the EPA financial statements provide a true and fair view of the organisation’s financial position and are compliant with reporting requirements. EPA income and expenditure increased in 2020–21.
The last financial year the EPA broadened its activities to respond to new issues within the community. Responsible financial management was a key consideration throughout the business.
We have delivered an operating result of $3.2 million. Total expenses of $212.7 million increased from last year by $32.0 million. Principally, this was driven by increased activity in the flood and bushfire clean-up programs and remediation of contaminated sites.
Total revenue of $216 million is an increase from last year by $33.2 million, due mainly to an increase in grants and contributions.
Our cash position is strong at $33.4 million, which is $5.8 million higher than last year. Our net assets are $37.5 million higher than last year’s figure of $34.2 million. These are the indications of a solid, stable position for the business.
Additionally, in June 2020, the NSW Treasurer announced that the EPA had secured significant funding as part of the Waste and Environment Levy Envelope funding for the next 10 years. This allows us to continue our work of becoming a world class regulator and acknowledges the critical role and work of the EPA. It is especially significant given the adverse impacts of the COVID-19 pandemic to government finances.
COVID-19 presented obstacles to business that needed flexibility and adaption in the way we operate. We are well placed to continue to address the challenges that exist in the year ahead.
Chief Financial Officer, EPA
Our financial overview and financial statements can be found in Our finances.