| 2023 $ | 2022 $ | 2021 $ | 2020 $ | 2019 $ | |
| Total income from transactions | 40,141,888 | 39,866,515 | 17,925,861 | 19,932,142 | 17,792,385 |
| Total expenses from transactions | 34,706,630 | 40,907,4251 | 20,388,510 | 20,091,717 | 19,434,276 |
| Net result from transactions | 5,435,258 | (1,040,880) | (2,462,649) | (159,575) | (1,641,891) |
| Other economic flows included in net result2 | (15,669) | (209,745) | (220,915) | (26,568) | (90,827) |
| Net result for the period | 5,419,589 | (831,135) | (2,242,454) | (186,143) | (1,732,718) |
| Net cash flow from operating activities | 189,037 | (2,490,148) | 718,478 | 712,109 | 360,839 |
| Total assets | 21,104,281 | 16,653,760 | 11,583,033 | 13,783,258 | 13,023,799 |
| Total liabilities | 8,108,237 | 9,077,305 | 5,847,223 | 5,825,576 | 4,885,613 |
End of table.
Notes
In 2022-23, the Commission reported a $5.44 million net surplus, primarily attributed to the Graduate Recruitment Scheme, Innovation Network and People Matter Survey transactions. Under Public Entity Executive Classification, the majority of projects were commenced in earlier years. However, the surplus has arisen subsequent to the completion of projects and the accounting recognition of $1.90 million in revenue for the present year.
The Commission’s net asset base as at 30 June 2023 is $13.00 million. There is an increase of $5.42 million from 2021-22. The increase in net asset base can be attributed mainly to a $4.45 million rise in receivables and a $0.90 million decrease in unearned income within the liabilities.
There were no significant changes which affected the Commission’s performance during the reporting period.
During 2022-23 financial year, the Commission has not completed any capital projects.
During 2022-23 financial year, the Commission provided a total grant of $1,548,838. A sum of $80,000 was provided to the CSIRO, $ 1,463,838 to the Department of Education and Training and $5,000 to Non-Profit Organisation Life Saving Victoria.
No significant events have occurred since 30 June 2023 that will have a material impact on the information disclosed in the financial statements.
| Target | Actual | Achieved | |
| Operating position | |||
| Net result from transactions is within budget (Y/N +/- 5%) 1 |
5% | 5% | Yes |
| Liquidity position | |||
| Current ratio (current assets / current liabilities >1) |
1% | 2.47% | Yes |
| Efficiency | |||
| Average accounts receivable collection period (target 30 days) | 90% | 68% | No |
| Average time for accounts payable (target 30 days) | 90% | 80% | No |
End of table.
Notes
The section provides information about the Commission’s performance against our output performance measures. Commentary is provided where there are variances of more than five per cent between targets and actual results for performance measures.
Provide WoVG people, data, analytics and insights, support a digitally enabled and flexible workforce, provide workforce planning advice.
| Strategic Priority | 2022-23 Target | 2022-23 Actual | Variance | Achieved |
| Percentage of process completion of Victorian public sector annual workforce data within target timeframes | 95% | 95% | 0% | Yes |
| Percentage of agencies that rated VPSC’s leadership of the People Matter survey as good, very good or excellent | 70% | 98% | 40%1 | Yes |
| Percentage of Innovation Network event attendees who indicate satisfaction with the delivered event | 85% | 95.4% | 12.2%2 | Yes |
| Percentage of users who indicated they were satisfied with their Suburban Hubs experience | 90% | 99% | 10%3 | Yes |
End of table.
Promote diverse, inclusive and healthy workplaces, support employment and career pathways, develop leading practice to support WoVG people initiatives.
| Strategic Priority | 2022-23 Target | 2022-23 Actual | Variance | Achieved |
| Proportion of graduates participating in the Aboriginal and disability streams | 10% | 16% | 60%4 | Yes |
| Overall satisfaction with engagement, consultation and responsiveness from the VPSC GRADS team | 85% | 94% | 10.6%5 | Yes |
| Number of engagement and promotion activities undertaken by the JSE | 20 | 31 | 55%6 | Yes |
| Satisfaction with response to user queries on the JSE | 80% | 95% | 15%7 | Yes |
| Percentage of Victorian Public Service workforce registered with the JSE | 70% | 87% | 24.3%8 | Yes |
| Percentage of Victorian Public Service jobs advertised through the JSE | 90% | 95% | 5.6% | Yes |
End of table.
Support high quality leadership development and strengthen executive leadership capability, promote a connected and collaborative senior executive service, support executive mobility and career pathways.
| Strategic Priority | 2022-23 Target | 2022-23 Actual | Variance | Achieved |
| Proportion of survey respondents expressing satisfaction with the Executive Leadership Program overall, relevance and suitability | 80% | 96% | 20% | Yes |
| Percentage of new to VPS executives participating in the induction program | 78% | 89% | 14.1%9 | Yes |
End of table.
Promote and advocate for an impartial and professional public sector, drive a preventative approach to integrity and governance issues, strengthen integrity and governance capability.
| Strategic Priority | 2022-23 Target | 2022-23 Actual | Variance | Achieved |
| Percentage of agencies that indicated that VPSC advice assisted in improving their integrity capability | 90% | 90% | 0% | Yes |
End of table.
Notes