Financial performance


​​The department is building Queensland’s future by empowering confident and creative lifelong learners through a student-centred approach to learning and wellbeing.

In 2022-23, the department achieved an operating surplus of $144.661 million (1.2%) against a total departmental controlled budget of $11.792 billion. Key investments and initiatives included the following.

  • The launch of the Education Futures Institute, which will have a statewide focus through elevating and aligning the delivery of a comprehensive range of capability and wellbeing initiatives across Queensland state education.
  • Continued delivery of capital programs, including opening new schools, building modern fit-for-purpose facilities to accommodate changes in educational needs, targeting high-priority needs for the safety of students and staff, and renewing existing school infrastructure.
  • Investment to link industry and local high schools to provide students with pathways into rewarding careers and confidently transition into the world of work under the Local Schools, Local Jobs election commitment.
  • Transitioning to a new resourcing model for students with disability.

The department’s material financial statement balances reflect our large school land and buildings portfolio across over 1,260 state schools and the payment of salaries for our school, regional and central office full-time equivalent (FTE) employees who number in excess of 76,000. Supplies and services expenses were dominated by curriculum resources, school utility costs and the maintenance and upkeep of our large asset base.

In accordance with section 77(2)(b) of the Financial Accountability Act 2009 (Qld), I have provided the Director-General with a statement regarding the financial internal controls of the department in line with section 54 of the Financial and Performance Management Standard 2019 (Qld). As the Chief Finance Officer, I have therefore fulfilled the minimum responsibilities as required by section 77(1)(b) of the Financial Accountability Act 2009 (Qld).

Duncan Anson
Assistant Director-General and Chief Finance Officer, Finance, Procurement and Facilities Division

The following financial summary provides an overview of the department’s financial results for 2022–23. For a comprehensive set of financial statements covering all aspects of the department’s activities, see the Financial Statements section. No totals have been adjusted for commercial-in-confidence requirements.

Controlled financial perfor​mance

The department recorded an operating surplus of $144.661 million for 2022–23. The table summarises the financial results of the department’s operations for the last 3 years.

Table 2: Summary of financial performance

Financial snaps​hot2020–21
10,163,456 10,982,740 12,174,​102
Operating surplus/deficit
157,317 159,196 144,661


The department received $12.174 billion for our controlled operations, an increase of $1.191 billion from last year.

Departmental controlled services revenue (appropriation) increased by $1.126 billion. This was largely due to additional funding for a range of school education related initiatives, election commitments, enterprise bargaining outcomes, increased funding to support kindergartens, funding to meet additional depreciation expenditure, as well as increased Commonwealth Government funding under the National School Reform Agreement and associated Bilateral Agreement.

Figure 1: Controlled income 2022–23

​Income %
Appropriation revenue​93.31
User charges and fees​​3.95
Grants and other contributions​​1.93


Infographic shows that the largest percentage of total income came from 'appropriation revenue', folowed by 'user charges and fees', 'grants and other contributions' and 'other'.


The department’s total controlled expenses for 2022–23 were $12.029 billion, an increase of $1.206 billion from last year. Salaries and wages remain the agency’s major expense component at 74% of total expenses and have increased by $823 million from 2021–22. The increase is in line with the agency’s commitment to improve student outcomes by providing more teachers, teacher aides and wellbeing professionals in schools to focus on students’ needs; support for the delivery and management of the department’s infrastructure program; as well as enterprise bargaining outcomes.

Figure 2: Controlled expenses 2022–23

Expenses %
Employee expenses
Supplies and services
14.68 1,765,904
Grants and subsidies 3.17
Depreciation and amortisation 7.05 847,609
Other 1.03 124,118
Total N/A 12,029,441

Infographic shows that the largest percentage of total expenses came from 'employee expenses', folowed by 'supplies and services', 'depreciation and amortisation', 'grants and subsidies' and 'other'.​

Controlled financial position

The net assets position reported in the financial statements shows the net worth of $31.854 billion as of 30 June 2023. Table 3 summaries the department’s financial position for the last 3 years.

Table 3: Summary of financial position

Financial snapshot
Assets 24,358,030 27,480,260 32,948,925
Liabilities 1,161,644 1,181,318 1,095,270
Net assets/liabilities 23,196,386 26,298,942 31,853,655

* Financial year 2021–22 includes restated amounts (refer Note G3 in the financial statements section).


The department held assets totaling $32.949 billion at 30 June 2023, an increase of $5.469 billion from 2021–22. The majority of the assets are land and buildings (including heritage buildings) which are reported under the heading ‘property, plant and equipment’ in the financial statements. These assets increased by $5.321 billion, mainly due to building new schools, capital works under infrastructure investment programs including the Building Future Schools Program and the impact of asset revaluations.


The department held liabilities totalling $1.095 billion at 30 June 2023, a decrease of $86.048 million from 2021–22. This decrease is mainly due to reduction in payables, which is a point in time balance.

The majority of the long-term financial liabilities relating to financing transactions emanating from Public Private Partnerships arrangements.

Administered revenue

The department administers, but does not control, certain activities on behalf of the Queensland Government. The department received $5.236 billion in administered funding, which is an increase of $406.357 million from 2021–22. Administered funding includes Commonwealth funding transfers to non-government schools, as well as state grants to statutory authorities, peak bodies for non-state schools and other entities, thereby enabling them to deliver agreed services to Queenslanders.

Last updated 16 October 2023