Australian Health Practitioner Regulation Agency - Finance
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Annual report 2022/23

Financial management

Ahpra and the National Boards work in partnership to ensure the National Scheme operates efficiently, effectively and economically. The financial statements section of the annual report describes the scheme’s position and performance in more detail, including the equity position for each National Board.

Financial overview

Income and expenses have steadily increased since 2018/19. Accounting for other economic flows, the comprehensive result for 2022/23 of –$6.6 million is a decrease from $14.9 million in 2021/22.

The changes to the comprehensive result each period largely reflect the growing number of registered practitioners, fee income, costs to regulate and the investment being made to support public safety objectives.

Financial performance

A deficit comprehensive result was planned as we invest in the Business Transformation Program. Income growth was offset by increased expenses, investment in technology, and responses to regulatory and health workforce priorities.

The income for the financial year was $274.7 million, an increase of $25 million from 2021/22 due to application and associated fee income jumping as international borders reopened. The economic recovery provided improved interest income and return on investments reflected in other economic flows.

The fees for each National Board for 2023/24 were set to recover the full costs of regulation for each profession. In some cases, these fees were indexed up to 3%, with one Board required to raise the fee by 18.4% to meet an increased share of regulation costs. For professions with very strong equity balances, fees were not increased.
Total expenses from transactions were $285.0 million, an increase of $53 million from 2021/22. Significant cost increases were due to wage inflation and workforce growth, additional costs of business operations, and it being a pivotal year in delivering the transformation program.

The investment in the transformation program, totalling $21.9 million, includes employee and contractor costs of design, delivery and associated overheads, and was made to accelerate some of the work to meet Australia’s health workforce objectives. The program costs are recognised in the audited financial statements: operating expenses of $10.4 million, intangible capital work in progress of $7.9 million and prepayment assets of $3.7 million.

Actions in response to the recommendations of the Independent review of the regulation of medical practitioners who perform cosmetic surgery had an estimated cost of $4.5 million. These costs were incurred in 2022/23 for enforcement action, standards setting and compliance monitoring.

Significant resources and expertise were also invested to meet emerging priorities including a national health workforce program and a comprehensive review of overseas health practitioner regulatory settings.

There was an increase in the expenditure on consultants and contractors for specialist skills, services and advice that cannot be provided through internal workforce capacity or capability. This includes specialist resources engaged for technology skills, and consultancy contracts in place for expert advice, services and independent reviews. Ahpra employs staff and engages consultants and contractors in accordance with policies and administrative authorisations.

Financial position

The financial statements disclose income and expenditure, and the equity balances held as compared to target equity for each National Board. Target equity is the amount of equity that should ideally be held and covers both Board and Ahpra risks, as well as the amount of funds that should be collected to date for funding future projects.


Equity has fallen to $95.1 million with the $6.6 million operating deficit for the year. Equity is held by each Board in accordance with an agreed framework. During the year, the equity framework was reviewed, through stakeholder consultation, actuarial engagement and international benchmarking. Recommendations of the review to improve the quantification of risk and management of the investment pool were adopted.

Equity serves several important purposes, including:

  • mitigating against unexpected loss not covered by our comprehensive insurance
  • funding capital and strategic projects that support the effective and efficient operation of Boards and the scheme – including the transformation program
  • offsetting the impact to the financial position due to variance in the operating result.

The equity balance also includes funding for planned projects that we have committed to, to support effective and efficient operations.


The financial assets of $248.1 million includes $124.3 million registration fees paid in advance.

Non-financial assets include IT intangible assets that increased to $22.7 million from $17.0 million in 2021/22, and property lease assets that have been consumed, reducing to $36.8 million in 2022/23 as scheduled.

Intangible asset investment includes $7.9 million in completed technology projects and data platform assets. The $12.5 million in capital work in progress includes investment in integration and data platforms, along with other system-readiness work for the launch of the transformation program, in addition to other technology initiatives.

Ahpra recognised $3.7 million as prepayments of the costs of configuration and customisation related to the implementation of software-as-a-service (SaaS) arrangements within the transformation program. Once the system goes live, the configuration and customisation expenditure will start, and be consumed over a period of up to five years.


The increase in liabilities relates to higher registration fees held in advance for all professions, higher contract payables for supplies as timing of the transformation program speeds up, and higher employee benefits. It is offset by lower lease liability in line with lease terms.

The year ahead

The expected financial performance in 2023/24 is for another operating deficit to occur, as the investment in the transformation program remains funded from equity reserves. In the forward years, break-even results are forecast, consistent with our five-year financial plan that aims to adequately fund the required workforce and technology, support and systems from continued increases to regulatory income.

Statement of comprehensive income for the year ended 30 June 2023

Continuing operations Note 2023
Revenue and income from transactions      
Registration and application fee A1.1 254,375 235,607
Investment income A2 7,371 4,065
Grant revenue A3 1,425 2,591
Other income and revenue A4 11,560 7,422
Total revenue and income from transactions   274,731 249,685
Expenses from transactions      
Employee costs B1.1 176,079 151,081
Board and committee sitting fees   5,778 5,734
Legal and notification costs   14,763 12,945
Accreditation expenses   10,178 9,592
Other operating expenses B2 64,728 39,869
Depreciation and amortisation C4.1 12,785 12,071
Finance costs - leases E1.2 716 736
Total expenses from transactions   285,027 232,028
Net result from transactions   -10,296 17,657
Other economic flows included in net result      
Net (loss) on non-financial assets C4.2 0 -78
Net gain/(loss) on financial instruments at fair value B3 3.429 -4,277
Other gain from other economic flows B3 270 1,572
Total other economic flows included in net result   3,699 -2,783
Net result for the year   -6,597 14,874
Other comprehensive income   0 0
Comprehensive result for the year   -6,597 14,874

This statement should be read in conjunction with the accompanying notes that are in the full version of the annual report.

Statement of financial position as at 30 June 2023

Assets Note 2023
Financial assets      
Cash and cash equivalents E2 16,596 5,683
Receivables D1 4,732 5,016
Prepayments D3 11,557 3,728
Investments and other financial assets C1 215,242 227,818
Total financial assets   248,127 242,245
Non-financial assets      
Property, plant and equipment C2 36,791 44,247
Intangible assets C3 22,733 17,025
Total non-financial assets   59,524 61,272
Total assets   307,651 303,517
Payables and accruals D2 17,805 10,931
Contract liabilities A1.2 124,282 117,295
Employee benefits B1.2 32,442 29,511
Lease liability E1 37,194 43,293
Other provisions D4 792 754
Total liabilities   212,515 201,784
Net assets   95,136 101,733
Contributed capital G7 43,895 43,895
Accumulated surplus G7 51,241 57,838
Total equity   95,136 101,733
Commitments E3    
Contingent assets and liabilities F3  

This statement should be read in conjunction with the accompanying notes that are in the full version of the annual report.

Statement of changes in equity for the year ended 30 June 2023

Balance Note Contributed capital
Accumulated surplus
Total equity
Balance at 1 July 2021   43,895 42,964 86,859
Net result for the year   0 14,874 14,874
Balance at 30 June 2022   43,895 57,838 101,733
Net result for the year   0 -6,597 -6,597
Balance at 30 June 2023 G7 43,895 51,241 95,136

This statement should be read in conjunction with the accompanying notes that are in the full version of the annual report.

Statement of cash flows for the year ended 30 June 2023

Cash flows from operating activities Note 2023
Receipts relating to regulatory fees   261,362 242,434
Receipts from government grant A3 495 3,521
Goods and Services Tax (GST) recovered from the Australian Taxation Office (ATO)   10,602 7,509
Other receipts   14,496 6,255
Interest received   4,485 3,069
Total receipts   291,440 262,788
Payments to suppliers, employees and others   -279,924 -224,686
Interest paid   -716 -736
Total payments   -280,640 -225,422
Net cash flows from operating activities E2 10,800 37,366
Cash flows from investing activities      
Payments for plant and equipment, intangibles and work in progress   -10,946 -12,289
Purchase of investments and other financial assets   -117,000 -243,000
Proceeds of investments   136,000 220,500
Net cash flows used in investing activities   8,054 -34,789
Cash flows from financing activities      
Repayment of principal portion of lease liabilities   -7,941 -7,554
Net cash flows used in financing activities   -7,941 -7,554
Net increase in cash and cash equivalents   10,913 -4,977
Cash and cash equivalents at the beginning of the year   5,683 10,661
Total cash and cash equivalents at end of the year E2 16,596 5,683

All amounts are inclusive of GST.

This statement should be read in conjunction with the accompanying notes that are in the full version of the annual report.

Page reviewed 9/11/2023