Ministerial Submission MS24-001711 Dated 29 September 2024—portfolio Entity Unapproved Operating Loss For 2023–24—australian Film Television And Radio School (aftrs).

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The Australian Film Television and Radio School (AFTRS) recorded a 2023–24 operating loss of $1.5 million, exceeding the Finance Minister's approved loss of $1.3 million by $0.2 million. The overage resulted from higher-than-anticipated employee entitlement costs for long-term contract staff transitioning to permanent roles and temporary increased staffing in Semester 1. Under Budget Process Operational Rules, the Minister for Arts was required to notify the Finance Minister of this unapproved loss. The submission recommended this notification proceed, despite the immaterial size of the variance. AFTRS confirmed financial sustainability with $9.9 million in available financial assets and advised no future operating losses are expected from 2024–25 onwards due to additional funding from the government's Revive – National Cultural Policy initiative.