Financials & Resource Allocation
Dairy Australia’s resources will be allocated to help drive our outcomes within each strategic priority.
| 2020/21 ('000) |
2021/22 ('000) |
2022/23 ('000) |
2023/24 ('000) |
2024/25 ('000) |
|
|---|---|---|---|---|---|
| Income | |||||
| Levies | 30,992 | 31,000 | 31,500 | 32,100 | 32,700 |
| Commonwealth matching | 21,661 | 21,300 | 21,200 | 21,500 | 22,500 |
| External income contribution | 8,968 | 8,100 | 8,300 | 8,500 | 8,700 |
| Other | 465 | 500 | 500 | 500 | 500 |
Total income |
62,087 | 60,900 | 61,500 | 62,600 | 64,400 |
Expenses |
|||||
| Projects/activities and services | 55,345 | 53,000 | 51,800 | 51,700 | 53,400 |
| Overheads | 9,659 | 9,800 | 10,200 | 10,400 | 10,500 |
Total expenses |
65,004 | 62,800 | 62,000 | 62,100 | 63,900 |
| Operating surplus/(deficit) | (2,917) | (1,900) | (500) | 500 | 500 |
Income
Forecasted milk production for 2020/21 is 8.7 billion litres with 1.8% year-on-year growth thereafter. A levy rate of 0.354¢/L has been forecasted over five years, based on milk composition of 3.38% protein and 4.10% fat.
Government matching income is inline with maximum claimable amounts and is calculated on the Gross Value of Production (GVP) averaged over three years (Statutory Funding Agreement link).
Income targets are projections that are consistent with past periods of recovery after droughts and significant market events.
Expenses
The expense allocation will change over time to meet our strategic outcomes and respond to industry feedback and investment opportunities. Further details on changes to allocation of expenditure will be reflected in each Annual Operating Plan and Annual Report).
Budgeted expenditure for each priority in 2020/21
All projects, activities and services have been allocated to a strategic priority. Our budgeted expenditure for 2020/21 is set out in the pie graph above. As we progress our strategic plan, we will re-align our investment in our priority areas based on evolving industry needs and changes in strategic focus areas.
