Our finances
Financial summary
The financial records of the Office of the Energy and Water Ombudsman have been properly maintained throughout the year ending 30 June 2020 in accordance with prescribed requirements.
The risk management and control systems relating to financial management have been operating efficiently, effectively and economically throughout the financial year.
Our budget for 2019-2020 was developed from a zero base without any surplus from the preceding financial year. It has considered known changes in expenditure from the previous year and likely future expenses.
As part of the EWOQ 2019-2020 budget, scheme participants contributed $2.2 million to special projects to improve business processes and customer service delivery. A range of committed expenses and final components to these projects have been delayed due to the impacts from COVID-19 and other factors. As a result, EWOQ will be carrying over $629,200 for
completion of these projects.
A majority of our funding is received from our scheme participants – energy and water retailers and distributors operating in Queensland – who are required to pay an annual participation fee and user pays fees.
Our income for 2019-2020 was $7.3 million (up from $6.5 million in 2018-2019) and included:
- $7 million user pays fees
- $246,115 participation fees
- $48,645 other revenue.
Our expenses in 2019-2020 were $7.3 million (up from $6.5 million in 2018-2019). Employee expenses accounted for 73 per cent of this, with supplies and services accounting for a further 26 per cent. Depreciation, audit fees, and costs associated with our Advisory Council made up the balance of our total expenditure.
At 30 June 2020, the Office’s assets totalled $5 million
which was comprised of:
- cash and cash equivalents
- receivables
- prepayments
- plant and equipment
- intangible assets.
As at 30 June 2020, our liabilities totalled $4.1 million, which include:
- $2.3 million in unearned revenue
- $1.3 million in accounts payable
- $501,957 in employee entitlements.
Financial statements
View our 2019-20 financial statements and Independent Auditor's Report (PDF)
Disclaimer
We provide content on this website for information purposes only.
Electronic versions of financial statements on this website aren’t official or authorised versions. You will need to confirm for yourself that they’re accurate, complete and current.
Although we work hard to prepare and maintain the electronic versions, we’re not liable for any loss or damage that may occur if you rely on them.
See the official copy of the annual report, as tabled in the Legislative Assembly of Queensland, on the Queensland Parliament's tabled papers website.