The datasets provide historical information from 2007-08. Wherever possible, adjustments have been made to make the series consistent with AASB 1049 Whole of Government and General Government Sector Financial Reporting. Additionally, several new accounting standards issued by the Australian Accounting Standards Board (AASB) have been applied for the first time from 2019-20 onwards. These accounting standards include AASB 1059 Service Concession Arrangements: Grantor (Service Concession Arrangements), AASB 16 Leases (Leases), AASB 15 Revenue from Contracts with Customers and AASB 1058 Income of Not-for-Profit Entities (Revenue).
It is important to note that due to the elimination of transactions occurring between the general government, public non-financial corporations and public financial corporations sectors in arriving at a consolidated position, not all variations in each sector will affect the overall State of Victoria result.
All data sets incorporate financial information published in the 2019-20 Financial Report, 2020-21 Budget and 2021-22 Budget.