2. Financial analysis

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The sector’s reported net surplus was underpinned by capital grants received to fund campus redevelopment. Without these grants, the sector would have had a net deficit from their operations, which has been a consistent trend for the last 5 years.

Although course enrolments have improved compared to 2022, TAFEs have yet to recover to pre–COVID-19 levels. Fee-for-service revenue increased for most TAFEs compared to 2022, outpacing contestable government funding.

1. Audit outcomes

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We provided clear audit opinions on financial reports and performance statements across the Technical and Further Education (TAFE) sector. Parliament and the community can confidently use these reports.

Financial reports and performance statements are reliable

Victorian TAFE sector

There are 12 TAFEs and 9 controlled entities in the Victorian TAFE sector.

Results of 2023 Audits: Technical and Further Education Institutes

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In this report we summarise the outcomes of our audits of the TAFE sector’s financial reports and performance statements for the year ended 31 December 2023.

Auditor-General's Report on the Annual Financial Report of the State of Victoria: 2023–24

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In this report, we share outcomes of our audit on the state's financial report and our independent perspective on the state's financial outcomes and risks to fiscal sustainability.

Quality of Victoria's Critical Data Assets

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We conducted this review to better understand whether agencies assure the quality of their critical data assets.

Delivering Savings Under the COVID Debt Repayment Plan

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In this report we examined if departments are delivering savings consistent with the COVID Debt Repayment Plan.

Free TAFE

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We plan to examine whether Free TAFE has delivered intended outcomes for Victorians by helping address demand for priority skills and delivering public benefit.

Cybersecurity of IT servers

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We plan to examine the effectiveness of agencies’ asset management in relation to the cloud environment and the effectiveness of controls associated with cloud-based infrastructure.