Asset and financial outlook

Financial outlook

The table below sets out the department’s total funding as per the State Budget 2025–26. The State Budget 2025–26 Budget Papers provide detailed descriptions of objectives and outputs, together with key performance indicators.

Source: State Budget 2025–26 Budget Papers, Budget Paper No. 3, Department of Health.

The following table sets out the department's output initiatives in the State Budget 2025–26.

Output initiatives – Asset and financial outlook ($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 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 is 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 $15.9 billion in planning and delivery as detailed in State Budget 2025–26 Budget Papers, Budget Paper 4.

New projects

Source: State Budget 2025–26 Budget Papers, Budget Paper No. 4, Asset and financial outlook

Existing projects

Source: State Budget 2025–26 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 higher 2024-25 expected outcome reflects funding provided for government policy commitments. The higher 2025-26 target is due to new funding provided for government policy commitments, alignment of funding streams with the National Health Reform Agreement, and a revision to estimated hospital revenue.

^(b) The higher 2025-26 target is due to alignment of funding streams with the National Health Reform Agreement, and a revision to estimated hospital revenue.

^(c) The higher 2024-25 expected outcome reflects an increase in estimated hospital revenues, new Commonwealth funding and new State funding provided for government policy commitments. The higher 2025-26 target is due to new funding provided for government policy commitments and a revision to estimated hospital revenue.

^(d) The higher 2024-25 expected outcome reflects funding provided for government policy commitments. The higher 2025-26 target reflects funding provided for government policy commitments.

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

^(f) 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.