Notes to the Financial Statements: How we operate – Our Departmental Objectives and Activities
1 Accounting policies and basis for financial statements preparation
Refer to individual notes for specific accounting policies.
Statement of compliance
The department has prepared these financial statements in compliance with section 38 of the Financial and Performance Management Standard 2019.
These financial statements are general purpose financial statements and have been prepared on an accrual basis in accordance with Australian Accounting Standards and Interpretations and requirements applicable to not-for-profit entities. Except where stated, historical cost is used as the measurement basis in the financial statements.
The financial statements are authorised for issue by the Director-General and Chief Finance Officer at the date of signing of the management certificate.
The reporting entity
The Department of Transport and Main Roads is a Queensland Government department established under the Public Sector Act 2022. The department is controlled by the State of Queensland which is the ultimate parent. The principal address of the department is:
61 Mary Street
Brisbane, Queensland 4000
The objectives of the department are:
- Accessible and integrated - A transport system that is accessible and connects customers and communities
- Safe and secure - A transport system that is safe and secure for customers and goods
- Responsive - A transport system that is responsive and resilient to the changing environment
- Efficient and productive - A transport system that is a key enabler of economic activity
- Sustainable - A transport system that contributes to environmental, economic and social sustainability
- Capable, adaptable and aligned - A positive, effective and accountable organisation.
The financial statements include the value of all income, expenses, assets, liabilities and equity of the Department of Transport and Main Roads.
The department has elected not to consolidate its investment in the controlled entity Transmax Pty Ltd in accordance with AASB 127 Separate Financial Statements and AASB 10 Consolidated Financial Statements. Refer to Note 27.
Departmental services and principal activities
The identity and purpose of the services and principal activities undertaken by the Department of Transport and Main Roads during the reporting period are as follows:
- Transport system investment planning and programming
The objective of this service area is investing to meet Queensland's current and growing transport needs. - Transport infrastructure management and delivery
The objective of this service area is to maintain and operate an integrated transport network accessible to all. - Transport safety and regulation
The objective of this service area is to enhance the safety of the transport system through quality regulation, road and maritime safety programs. - Customer experience
The objective of this service area is to understand evolving customer needs and expectations, to improve customer experiences and reduce complaints. - Passenger transport services
The objective of this service area is to connect Queensland through reliable and accessible passenger transport services. - Transport infrastructure construction and maintenance (RoadTek)
RoadTek provides transport infrastructure solutions, including construction and maintenance services to enable the department to deliver on Queensland Government priorities, with a focus on best value outcomes for our customers, stakeholders and the community. - Customer and digital services (1 July 2024 to 31 October 2024)
The objective of this service area is to benefit Queenslanders and their businesses by delivering and improving government services and investing in a digitally enabled economy. - Centre for Information Technology and Communications (CITEC) (1 July 2024 to 31 October
2024)
CITEC provides whole-of-government and commercial information and technology solutions that support the delivery of frontline services to Queensland communities and businesses. - Queensland Shared Services (1 July 2024 to 31 October 2024)
The objective of this service area is to provide effective corporate services that support Queensland Government entities. - Corporate Administration Agency (1 July 2024 to 31 October 2024)
The objective of this service area is to provide effective corporate services that support Queensland Government entities, primarily statutory bodies.
Agency arrangements
The department performs certain transactions in an agent capacity, and the receipts of such funds are not considered to be revenue for the department, nor are payments of these amounts considered to be expenses of the department. These transactions are not recognised in the financial statements but are disclosed in these notes for the information of users. Significant agency transactions are disclosed in Note 29.
Accounting estimates and judgements
The preparation of financial statements necessarily requires the determination and use of certain critical accounting estimates, assumptions, and management judgements that have potential to cause a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. Such estimates, judgements and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in future periods as relevant.
Estimates and assumptions that have a potential significant effect are outlined in the following financial statement notes:
- Note 12 Receivables
- Note 14 Intangible assets
- Note 15 Property, plant and equipment
- Note 16 Public private partnerships
- Note 20 Provisions.
Currency, rounding and comparatives
Amounts included in the financial statements are in Australian dollars and have been rounded to the nearest $1000, or where that amount is $500 or less, to zero, unless disclosure of the full amount is specifically required.
Comparative information is restated where necessary to be consistent with disclosures in the current reporting period.
Current and non-current classification
Assets are classified as current where their carrying amount is expected to be realised within 12 months after the reporting date. Liabilities are classified as current when they are due to be settled within 12 months after the reporting date, or the department does not have the right at the end of the reporting period to defer settlement to beyond 12 months after the reporting date. All other assets and liabilities are classified as non-current.
Climate risk disclosure
The State of Queensland, as the ultimate parent of the Department of Transport and Main Roads, has published a wide range of information and resources on climate change risks, strategies and actions.
The Queensland Sustainability Report (QSR) outlines how the Queensland Government measures, monitors and manages sustainability risks and opportunities, including governance structures supporting policy oversight and implementation. To demonstrate progress, the QSR also provides time series data on key sustainability policy responses.
The department continues to monitor the emergence of material climate-related risks that may impact the financial statements of the department, including directives from government or Queensland Treasury.
The department considers specific financial impacts relating to climate related risks by identifying and monitoring material accounting judgements and estimates used in preparing the financial report. This includes the potential for changes in asset useful lives, changes in the fair value of assets, provisions or contingent liabilities and changes in expenses and revenue.
The department has not identified any material climate related risks relevant to the financial statements at the reporting date, and no climate risk related adjustments have been recognised against the carrying value of recorded assets or other balances in the financial statements.
New and revised accounting standards
Effective for the first time in 2024–25
The Australian Accounting Standard AASB 2022-10 Fair Value Measurement of Non-Financial Assets of Not-for-Profit Public Sector Entities, which is first effective in 2024–25, has been assessed and does not have a material impact on the department. No other new Australian Accounting Standards or interpretations that apply to the department for the first time in 2024–25 had any material impact on the financial statements, and no new Australian Accounting Standards have been early adopted in 2024–25.
New Australian accounting standards issued but not yet effective
AASB 18 Presentation and Disclosure in Financial Statements applies to not-for-profit public sector entities for annual reporting periods beginning on or after 1 January 2028, which will be the 2028–29 financial year for the department.
This standard sets out new requirements for the presentation of the Statement of comprehensive income, requires new disclosures about management-defined performance measures and removes existing options in the classification of dividends and interest received and interest paid in the Statement of cash flows.
The department will make an assessment of the expected impacts of AASB 18 after the Australian Accounting Standards Board has decided on the modifications applicable to not-for-profit public sector entities. AASB 18's changes will only affect presentation and disclosure, and will not affect the recognition or measurement of any reported amounts.
All other Australian Accounting Standards and interpretations with future effective dates are either not applicable to the department's activities or have no material impact on the department.
Machinery-of-government changes
Transfers in – Controlled activities
As a result of the Public Service Departmental Arrangements Notice (No.1) 2024 dated 12 April 2024, the Road Safety Camera Office was transferred from the Queensland Police Service to the Department of Transport and Main Roads. The transfer was effective from 15 July 2024.
As a result of this change assets to the value of $34.583m were transferred to the Department of Transport and Main Roads. Also transferred to the department were 62 full-time equivalent employees.
Budgeted controlled appropriation revenue of $46m was reallocated from the Queensland Police Service to the Department of Transport and Main Roads as part of the machinery-of-government change.
Public Safety Network Management Centre
As a result of the Public Service Departmental Arrangements Notice (No.6) 2024 dated 2 August 2024, the Public Safety Network Management Centre was transferred from the Queensland Police Service to the Department of Transport and Main Roads. Pursuant to section 80 of the Financial Accountability Act 2009, for financial reporting purposes the effective date of the transfer was 1 September 2024.
As a result of this change assets to the value of $49.657m and liabilities with a value of $3.096m were transferred to the Department of Transport and Main Roads. Also transferred to the department were 46 full-time equivalent employees.
Budgeted controlled appropriation revenue of $5.124m was reallocated from the Queensland Police Service to the Department of Transport and Main Roads as part of the machinery-of-government change.
Queensland Train Manufacturing Program
Public Service Departmental Arrangements Notice (No.9) 2024 dated 1 November 2024, transferred the Queensland Train Manufacturing Program from the Department of Transport and Main Roads to the Department of Natural Resources and Mines, Manufacturing and Regional and Rural Development. The transfer was effective from 1 November 2024.
Public Service Departmental Arrangements Notice (No.10) 2024 dated and effective 21 November 2024, returned responsibility for the Queensland Train Manufacturing Program to the Department of Transport and Main Roads.
As the transfer of the train manufacturing program to the Department of Natural Resources and Mines, Manufacturing and Regional and Rural Development was only effective for twenty days, there was no actual transfer of assets, liabilities, employees or appropriation revenue as a result of this change. The expenditure incurred for the train manufacturing program during this twenty-day period was immaterial to these financial statements.
A summary of assets and liabilities transferred into the department as a result of the above changes follows:
| Category |
Road Safety Camera Office
$'000
|
Public Safety Network Management Centre
$'000
|
Queensland Train Manufacturing Program
$'000
|
Total
$'000
|
|---|---|---|---|---|
| Controlled | ||||
| Assets | ||||
| Cash | 29,059 | 18,024 | - | 47,083 |
| Receivables | - | 3,542 | - | 3,542 |
| Property, plant and equipment | 5,056 | 27,123 | - | 32,179 |
| Intangibles | 468 | - | - | 468 |
| Other assets | - | 968 | - | 968 |
| Total assets | 34,583 | 49,657 | - | 84,240 |
| Liabilities | ||||
| Payables | - | 3,090 | - | 3,090 |
| Accrued employee benefits | - | 6 | - | 6 |
| Total liabilities | - | 3,096 | - | 3,096 |
| Net assets | 34,583 | 46,561 | - | 81,144 |
Transfers out – Controlled activities
Queensland Government Customer and Digital Group
Public Service Departmental Arrangements Notice (No.9) 2024 dated 1 November 2024, transferred the functions of the Queensland Government Chief Customer and Digital Officer (QGCCDO) from the Department of Transport and Main Roads to the newly created Department of Customer Services, Open Data and Small and Family Business.
The functions of Queensland Government Customer and Digital Group include:
- Administration of Crown Copyright and Intellectual Property
- Cyber Security Operations and Management and Policy
- Digital Economy
- Digital Transformation
- Facilitation of access to Government Owned Optical Fibre Networks
- Government Information and Communication Technology Policy and Planning
- Government Wireless Network Contract Directorate
- Open Data
- Strategic Digital Projects
- Strategic Information and Communications Technology
- Strategic Sourcing.
In addition, the Queensland Government Customer and Digital Group includes the below entities:
- Centre for Information Technology and Communications (CITEC)
- Queensland Shared Services (QSS)
- Corporate Administration Agency (CAA)
As a result of this change assets to the value of $406.315m and liabilities with a value of $255.568m were transferred with an effective date of 1 November 2024 to the Department of Customer Services, Open Data and Small and Family Business.
Also transferred to the Department of Customer Services, Open Data and Small and Family Business were 1841 full-time equivalent employees.
Budgeted controlled appropriation revenue of $163.665m was reallocated from the Department of Transport and Main Roads to the Department of Customer Services, Open Data and Small and Family Business as part of the machinery-of-government change.
Revenue and expenses attributable to the above functions that are reported in the Statement of comprehensive income relate to the period 1 July 2024 to 31 October 2024.
A summary of assets and liabilities transferred out as a result of this change follows:
| Category |
Customer and Digital Group
$'000
|
CITEC
$'000
|
QSS
$'000
|
CAA
$'000
|
Total
$'000
|
|---|---|---|---|---|---|
| Controlled | |||||
| Assets | |||||
| Cash | 71,922 | 44,406 | 56,306 | 2,502 | 175,136 |
| Receivables | 26,630 | 25,995 | 14,417 | 1,249 | 68,291 |
| Other financial assets | 15,000 | - | - | - | 15,000 |
| Inventories | - | 14 | - | - | 14 |
| Prepayments | 6,652 | 14,881 | 3,461 | 770 | 25,764 |
| Property, plant and equipment | 901 | 41,163 | 281 | - | 42,345 |
| Right-of-use assets | 71,615 | 4,294 | - | - | 75,909 |
| Intangible assets | 398 | 1,758 | 1,700 | - | 3,856 |
| Total assets | 193,118 | 132,511 | 76,165 | 4,521 | 406,315 |
| Liabilities | |||||
| Payables | 112,211 | 16,922 | 12,744 | 185 | 142,062 |
| Borrowings and derivatives | - | 15,000 | - | - | 15,000 |
| Lease liabilities | 79,708 | 4,258 | - | - | 83,966 |
| Accrued employee benefits | 1,311 | 562 | 1,112 | 393 | 3,378 |
| Other liabilities | 1,539 | 6,606 | 2,417 | 600 | 11,162 |
| Total liabilities | 194,769 | 43,348 | 16,273 | 1,178 | 255,568 |
| Net assets | (1,651) | 89,163 | 59,892 | 3,343 | 150,747 |
The decrease in net assets of $150.747m has been accounted for as a decrease in contributed equity as disclosed in the Statement of changes in equity.
Transfers out – Administered activities
Queensland Government Customer and Digital Group
Public Service Departmental Arrangements Notice (No.9) 2024 dated 1 November 2024, transferred the administered functions of the Queensland Government Chief Customer and Digital Officer (QGCCDO) from the Department of Transport and Main Roads to the newly created Department of Customer Services, Open Data and Small and Family Business.
As a result of this change assets to the value of $1.832m and liabilities with a value of $1.569m were transferred to the Department of Customer Services, Open Data and Small and Family Business. There were no employees transferred as a result of this change.
The decrease in net assets of $0.263m has been accounted for as a decrease in contributed equity as disclosed in Note 29 Schedule of administered items.
Budgeted administered appropriation revenue of $9.026m was reallocated from the Department of Transport and Main Roads to the Department of Customer Services, Open Data and Small and Family Business as part of the machinery-of-government change.
Revenue and expenses attributable to the above functions that are reported in Note 29 Schedule of administered items relate to the period 1 July 2024 to 31 October 2024.
A summary of assets and liabilities transferred out as a result of this change follows:
| Category |
Customer and Digital Group
$'000
|
|---|---|
| Administered | |
| Assets | |
| Cash | 1,832 |
| Total assets | 1,832 |
| Liabilities | |
| Payables | 1,569 |
| Total liabilities | 1,569 |
| Net assets | 263 |
- Last updated
- 29 September 2025