Asset and financial outlook

Financial outlook

The table below sets out the department’s total funding as per the State Budget 2024–25. The State Budget 2024–25 Budget Papers provide detailed descriptions of objectives and outputs, together with key performance indicators.

Source: State Budget 2024–25 Budget Papers, Budget Paper No. 3, Department of Health.

The following table sets out the department’s output initiatives in the State Budget 2024–25.

Output initiatives – Department of Health ($million)

Workforce outlook

Our workforce is vital to delivering this plan. We will focus on building our workforce’s capability and capacity. We will also create a great employee experience using culture, development, and inclusion.

We will do this through initiatives that employ and retain great people. This includes projects that improve workplace culture, health, safety, and wellbeing. It also means engaging and enabling our workforce and growing and developing our people.

Examples of our work in this area include recruitment reform, uplifting our leadership capability, improving our writing capability across the department, and continuing our culture journey and wellbeing work. We will develop a culture where people get the job done and do it well, strive for excellence, work as a team, solve problems and think outside the box, and develop others.

We also know that support for diversity, inclusion and cultural safety are essential. Our approach to creating a great employee experience is underpinned by complementary initiatives such as:

• Aboriginal workforce strategy
• Getting to work: disability employment implementation plan
• Gender equality action plan
• LGBTIQA+ inclusion strategy
• Health safety and wellbeing framework
• Victorian Public Sector Commission employment guidelines.

Asset outlook

The department has an asset total estimated investment (TEI) of $14.6 billion in planning and delivery as detailed in State Budget 2024–25 Budget Papers, Budget Paper 4.

New projects

Source: State Budget 2024–25 Budget Papers, Budget Paper No. 4, Department of Health

Existing projects

Source: State Budget 2024–25 Budget Papers, Budget Paper No. 4, Department of Health

Approved use of accumulated State Administration Unit

The Resource management framework (section 3.5.2) sets out the order of funding for approved asset investments.

The department follows this order. If required, funds will be drawn down from accumulated State Administration Unit (SAU) funding, after seeking approval from the Treasurer as required under s. 33 of the Financial Management Act 1994. Any funds accessed from accumulated depreciation funding will be reported each year in the annual financial report.

Notes

^(a) The 2024–25 target reflects pending Commonwealth commitments.

^(b) The lower 2024–25 target reflects pending Commonwealth commitments for Dental Services and the cashflow profile for the Smile Squad program.

^(c) The 2024–25 target reflects the completion of COVID-related initiatives, including distribution of RATs, as well as the cessation of the Commonwealth national partnership on Prevention of Avoidable Hospital Admission, Obesity and Chronic Disease.

^(d) Table may not add due to rounding.

^(e) These initiatives contribute to activity that attracts Commonwealth Government funding under the National Health Reform Agreement (NHRA). Estimates of the Commonwealth Government’s contribution are included.

^(f) This initiative contributes to activity that attracts Commonwealth Government funding under the Federation Funding Schedule for access to HIV treatment for people who are not eligible for Medicare. Estimates of the Commonwealth Government’s contribution are included.

^(g) Table may not add due to rounding.

^(h) Totals exclude expenditure for projects with a range or 'tbc' TEIs and cash flows.