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Report on State Finances

The 2023-24 Report on State Finances was tabled by the Treasurer, Minister for Energy and Minister for Home Ownership David Janetzki on 12 December 2024.

The 2023-24 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.

Updated
26 October 2023
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Report on State FinancesROSFState budget cycle

Message from the Treasurer

I present Queensland’s 2023-24 Report on State Finances which includes the Outcomes Report and AASB 1049 Financial Statements.

The General Government Sector realised a net operating surplus of $1.681 billion in 2023-24.

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 the 2023-24 actual results with the revised forecasts contained in the 2024-25 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
    Includes Overview and Analysis of the Operating Statement, Balance Sheet, and Cash Flow Statement.
  • Audited Consolidated Financial Statements – Part B
    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 TSS.

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