DEPARTMENT OF FISHERIES ANNUAL REPORT TO THE ...

SUMMARy OF THE yEAR � FINANCIAL OvERvIEw
Financial Overview
the financial overview examines the trends in
financial information from 2006/07 through to
2010/11. the analysis is based on the information
provided in the Department of Fisheries’ audited
statement of comprehensive income and statement
of financial position.
The overview is provided to assist readers in
understanding the financial impact of decisions taken
over that period to address emerging issues in the
fisheries sector. These issues include:
• Significant government funding to increase
compliance and research and compliance activity
relating to recreational fishing, commercial fishing
and marine park compliance.
• Significant government support to increase the
financial sustainability for commercial fisheries
in Exmouth Gulf, Shark Bay and the Abrolhos
Islands through the establishment and financing of
Fisheries Adjustment Schemes.
• Management of the recreational fishing sector
through the introduction of revised management
arrangements including the introduction of a
Recreational Fishing from Boat Licence.
• Significant government funding to invest in new
assets or replace ageing assets to support the
delivery of the Department’s services.
• Increasing levels of employee leave liabilities.
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The ‘Overview of Financial Flows’ figure below
represents the various types of operating and capital
funds received by the Department during the 2010/11
financial year, excluding any carry-overs and internal
funds brought forward from 2009/10. The major
elements of the Department’s operating expenditure
(i.e. day-to-day activity) and capital expenditure for the
2010/11 year can also be seen next to the ‘Total Cost
of Services’ chart.
Note that $m is used as an abbreviation for $million.