Report on State Finances

The 2021-22 Report on State Finances was tabled by the Treasurer and Minister for Trade and Investment Cameron Dick on 25 October 2022.

The 2021-22 Report on State Finances incorporates both the Outcomes Report prepared on a Uniform Presentation Framework (UPF) basis and the AASB1049 Financial Statements prepared in accordance with Australian Accounting Standards, providing a comprehensive view of the financial operations and position of the Queensland Government.

In 2021-22, global and national economic conditions improved.

In Queensland, this meant that stronger than expected revenues from the economic rebound and lower expenditure have resulted in Queensland delivering an operating surplus of $4.3 billion for 2021-22, up from $1.9 billion estimated in the most recent budget (2022-23).

Outcomes Report

The Outcomes Report contains financial statements that are presented in accordance with the Uniform Presentation Framework (UPF) which provides comparable reporting of Commonwealth, State and Territory Governments’ financial information.

The Outcomes Report compares 2021-22 actual results with the revised forecasts contained in the 2022-23 Budget.

The UPF presentation is structured on a sectoral basis with a focus on the General Government and Public Non-financial Corporations Sectors.

AASB 1049 Financial Statements

The AASB 1049 Financial Statements outline the operations of the Queensland Government in accordance with Australian Accounting Standard, AASB 1049 Whole of Government and General Government Sector Financial Reporting and other applicable standards and are audited.

These statements focus on the General Government Sector (GGS) and Total State Sector (TSS) and include detailed notes.

Disaggregated Financial Statements for the General Government, Public Non-financial Corporations and Public Financial Corporations sectors are disclosed in Note 2 to the Financial Statements.

The Statements are divided into two parts:

  • Overview and Analysis – Part A (PDF 2 M)
    Includes Overview and Analysis of the Operating Statement, Balance Sheet, and Cash Flow Statement.
  • Audited Financial Statements – Part B (PDF 255 K)
    Includes Financial Statements of the Queensland Government, incorporating the General Government Sector and Total State Sector, Notes to the Financial Statements, Certification of Queensland State Government Financial Statements and Independent Auditor’s Report for the Queensland GGS and Total State Sector.

Previous reports