
Annual Report 2024–25 116 Department of Education
Notes to the financial statements
For the year ended 30 June 2025
1. Basis of preparation.............................. 117
2. Department outputs .............................. 119
2.1 Department objectives ....................................... 119
2.2 Schedule of Income and Expenses by Service 120
2.3 Schedule of Assets and Liabilities by Service .. 121
3. Use of our funding ................................ 122
3.1.1 Employee benefits expense ................. 122
3.1.2 Employee related provisions ................ 123
3.2 Grants and subsidies ......................................... 125
3.3 Other expenditure .............................................. 126
3.4 Net loss on disposal of non-current assets ....... 127
4. Our funding sources ............................. 128
4.1 Income from State Government ........................ 128
4.2 User contributions, charges and fees ............... 130
4.3 Australian Government grants and contributions . 131
4.4 Interest revenue ................................................. 131
4.5 Other revenue .................................................... 132
5. Key assets ............................................. 133
5.1 Property, plant and equipment .......................... 134
5.1.1 Depreciation and impairment ............... 137
5.2 Right-of-use assets ............................................ 139
5.3 Service concession assets ................................ 141
5.3.1 Depreciation and impairment of service
concession assets ............................... 142
6. Other assets and liabilities ................... 143
6.1 Receivables ........................................................ 143
6.1.1 Movement in the allowance for impairment
of trade receivables ............................. 144
6.2 Amounts receivable for services (Holding
Account) ............................................................. 144
6.3 Other current assets .......................................... 145
6.4 Inventories .......................................................... 145
6.5 Payables............................................................. 145
6.6 Other provisions ................................................. 146
6.6.1 Movement in provisions ....................... 147
6.7 Other liabilities .................................................... 147
6.7.1 Movement in contract liabilities ............ 147
7. Financing ............................................... 148
7.1 Borrowings ......................................................... 148
7.2 Leases ................................................................ 149
7.3 Assets pledged as security ................................ 150
7.4 Finance costs ..................................................... 150
7.5 Cash and cash equivalents ............................... 151
7.5.1 Reconciliation of cash .......................... 151
7.5.2 Restricted cash and cash equivalents .. 151
7.5.3 Reconciliation of net cost of services to
net cash flows provided by/(used in)
operating activities ................................ 152
7.6 Commitments ..................................................... 153
7.6.1 Capital commitments ............................ 153
8. Risks and contingencies ...................... 154
8.1 Financial risk management ................................ 154
8.2 Contingent assets and liabilities ........................ 159
8.2.1 Contingent liabilities ............................. 159
8.3 Fair value measurements .................................. 160
9. Other disclosures ................................. 163
9.1 Events occurring after the end of the reporting
period .................................................................. 163
9.2 Initial application of Australian Accounting
Standards ........................................................... 163
9.3 Future impact of Australian Accounting Standards
not yet operative................................................. 164
9.4 Key management personnel ............................. 165
9.5 Related party transactions ................................. 166
9.6 Affiliated and related bodies .............................. 167
9.7 Special purpose accounts ................................. 167
9.8 Remuneration of auditors .................................. 172
9.9 Services provided free of charge ....................... 172
9.10 Non-current assets classified as held for sale .. 173
9.11 Equity .................................................................. 174
9.12 Supplementary financial information ................. 175
9.13 Indian Ocean Territories .................................... 175
10. Explanatory statements ........................ 176
10.1 Explanatory statement for controlled operations 176
10.1.1 Statement of comprehensive income
variances .............................................. 177
10.1.2 Statement of financial position variances 178
10.1.3 Statement of cash flows variances ....... 179
10.1.4 Major Variance Narrative...................... 180
10.2 Explanatory statement for administered items.. 181