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Report on financial performance

The Department reported a consolidated operating surplus (excluding depreciation) of $1.71 million in 2016–17. This is against the estimated actual of $1.29 million reported in the 2016–17 Portfolio Budget Statements. The Defence Service Homes Insurance Scheme (DSHIS) reported an operating loss of $0.71 million (excluding depreciation).

DSHIS operates as a separate entity but, under the Commonwealth financial framework, is reported as part of DVA. For more details on DSHIS, see Program 1.4 and DSHIS's separate financial statements.

DVA's cash position decreased by $1.30 million in 2016–17.

DVA's net assets increased by $10.49 million in 2016–17 (from $66.80 million in 2015–16 to $77.28 million in 2016–17), mainly due to the increase in appropriations receivable.

Table 33 highlights the financial relationship between DVA and DSHIS. The table shows the entities separately then amalgamates their finances to give the total which is used for reporting in the financial statements.

Table 33—Financial performance and financial position for DVA and DSHIS 2014–15 to 2016–17
  2014–15 2015–16 2016–17
  DVA
($m)
DSHIS
($m)
DVA
total
($m)
DVA
($m)
DSHIS
($m)
DVA
total
($m)
DVA
($m)
DSHIS
($m)
DVA
total
($m)
Surplus/deficit after income tax -45.87 -1.13 -47.00 -13.47 7.03 -6.44 -23.32 -0.78 -24.10
Non-appropriated expenses 28.76 0.00 28.76 25.37 0.07 25.44 29.10 0.13 29.23
Deficit attributable to the entity -17.11 -1.13 -18.24 11.90 7.10 19.00 2.42 -0.71 1.71
Cash balance 2.71 2.41 5.12 5.54 2.17 7.71 3.77 2.64 6.41
Net assets 28.42 28.00 56.42 31.78 35.02 66.80 43.04 34.24 77.28

DSHIS = Defence Service Homes Insurance Scheme, DVA = Department of Veterans' Affairs

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