Other significant expenditure items related to management fees paid to private service providers and offender-related expenses.
At 30 June 2004, the Department had a net operating result deficit of $9.40 million, compared to a surplus of $2.97 million the previous year.
The major contributor to the 2003-04 deficit was a necessity under accounting requirements to regrade complex assets into components as referenced in Note 19 in the Notes to and forming part of the Financial Statements 2003-04.
This requirement will impact future years depreciation expense and will be the subject of a submission to Government for a review of related funding implications.
The majority of the increase of $206 million in the Departmentís net assets over the previous financial year can be attributed to the redemption of the Departmentís loans and indexation of assets.
The Boggo Road gaol land was transferred to the Department of Public Works at a value of $22 million.During the financial year, the Department redeemed the balance of its loans. This was made possible by the Queensland Government utilising available cash balances from the Stateís Consolidated Fund.
The total repayment to the Queensland Treasury Corporation was $215 million for the financial year.