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TGA key performance indicators: January to June 2015
Version 1.0, August 2015
TGA's activities are primarily cost recovered from industry. However, the TGA received appropriation funding in 2014-15 for aligning Australia's and New Zealand's regulation of therapeutic goods. The function of administering compliance frameworks for controlled drugs was transferred to the TGA Group of the Department of Health in August 2014 and continues to be funded from the departmental appropriation. As a result, TGA now has multiple funding sources for its activities. These activities contribute to Outcome 7 'Health infrastructure, regulation, safety and quality' and Outcome 9 'Biosecurity and emergency response' in the Department of Health's Portfolio Budget Statements.
This indicator on our financial performance shows that we are within the target budget range when compared to budget.
|5. Financial performance||Total revenue||Total expenditure|
|Time period||Actual ($'000)||Budget ($'000)||Variance (%)||Actual ($'000)||Budget ($'000)||Variance (%)|
|Jul 2014 - Jun 2015||139,546||138,922||0%||134,905||139,231||-3%|
|Jan - Jun 2015||71,042||68,850||3%||66,860||68,900||-3%|
|Jul - Dec 2014||68,504||70,072||-2%||68,045||70,331||-3%|
|Jul 2013 - Jun 2014||132,564||133,161||-1%||133,065||133,470||0%|
|Jan - Jun 2014||64,369||65,880||-2%||69,011||65,914||5%|
Note: target budget variance is ±5%.
Revenue for the full year was in line with budget overall although annual charges were below budget due to the transition arrangements for the new Annual Charges Exemption scheme and a higher rate of Low Value Turnover applications received during the year. Offsetting this were above-budget application fees and additional appropriation for administering compliance frameworks for controlled drugs.
Expenditure was below budget, mainly in employee expenses due to lower than budget staffing levels and no change in staff pay rates from last financial year.