In 2021–22 the state made an operating loss from transactions of $15.3 billion (compared to $18.3 billion in 2020–21) and had an operating cash deficit of $4.8 billion (compared to $9.3 billion in 2020–21).
The GGS made an operating loss from transactions of $13.8 billion (compared to $14.6 billion in 2020–21) and had an operating cash deficit of $8.9 billion (compared to $13.0 billion in 2020–21).
Our unmodified opinion provides reasonable assurance that the financial performance and position of the State of Victoria, and within that the general government sector (GGS), as reported in the 2021–22 Annual Financial Report of the State of Victoria (AFR), are reliable.
We issued clear opinions on 25 of the 28 material entities’ financial reports.
Click the link below to download a PDF copy of Appendix G. Data sources used in this review.
Click the link below to download a PDF copy of Appendix F. Gateway reviews of completed HVHR major projects.
Click the link below to download a PDF copy of Appendix E. Entities’ self-assessments.
Click the link below to download a PDF copy of Appendix D. Reasons why projects change.
Click the link below to download a PDF copy of Appendix C. About this assurance review.
Click the link below to download a PDF copy of Appendix B. Acronyms, abbreviations and glossary.
Click the link below to download a PDF copy of Appendix A. Submissions and comments.