Under the Country Fire Authority Act 1958, CFA receives funding of annual estimated expenditure through the State Government, insurance companies (through fire service levies on insurance premiums) and from other companies under Section 80A of the Act.
Total income for the 2006/07 year was $323.5m, which is an increase of $85.0m over the previous year’s total of $238.5m. The major reasons for this variation are an increase of $44.8m in government and insurance contributions and $35.7m from recognition of Brigade cash and deposits for the first time. The government contribution included $22.9m in funding to reimburse CFA for the significant costs incurred during the 2007 major fires. Other minor variances occurred in relation to brigade donations received, and brigade-owned vehicles recognised.
CFA received contributions from government and other sources amounting to $260.3m (2005/06 $215.5m). CFA receives funding of annual expenditure through the Victorian State Government (22.5%), insurance contributions (77.5%), and from other companies under Section 80A of the CFA Act. During 2006/07 statutory contributions totalled $231.9m, comprising $51.1m from the State Government (of which $3.2m was treated as contributed capital), $188.2m from insurance companies, and $9.1m from other companies. In addition, $28.3m was contributed by other government sources.
CFA received $9.8m during the year from the provision of goods and services to external bodies (2005/06 $4.2m). These include the provision of external training services, fire protection fees, alarm monitoring, dangerous goods inspections, and hazardous materials incidents. The increase over 2005/06 is due to the inclusion of Fire Equipment Maintenance (FEM) business income.
Other income during the year totalled $53.4m from a number of sources including the Transport Accident Commission, interest, a Commonwealth Government Grant, public donations and the recognition of additional brigade-owned vehicles. Overall, other revenue increased by $34.6m over 2005/06 due to the recognition of brigade cash and deposits for the first time, offset by decreases in other areas. Minor changes were caused by higher interest income, brigade donations and brigade-owned vehicles being recognised.
NEW! Please view Statutory Contributions: A section set up to assist Insurance Companies, Insurance Intermediaries (Brokers) and Owners to accurately prepare their returns and premiums to CFA, as set out under the Country Fire Authority Act 1958 |
