TIQ is constituted under the Trade and Investment Queensland Act 2013 and is a statutory body within the meaning given by the Financial Accountability Act 2009 and is controlled by the State of Queensland.
For the 2017–18 financial year, TIQ had total income of $41.165 million compared with $37.413 million in 2016–17. A total of $38.548 million was provided in funding from the Queensland Government compared with $34.643 million in 2016–17. The increase resulted from TIQ’s implementation of two key whole-of-government strategies:
- Advancing Trade and Investment — Queensland Trade and Investment Strategy 2017–2022
- International Education and Training Strategy to Advance Queensland 2016–2026.
Combined employee expenses for Australian and overseas staff increased by $1.581 million to $23.069 million and accounted for 56% of total income. Supplies and services expenses increased by 16.2% to $15.949 million in 2017–18 to deliver initiatives under the two whole-of-government strategies.
A $0.351 million surplus was achieved in 2017–18 as a result of delayed project initiatives that will be delivered in 2018–19. At 30 June 2018, TIQ had total assets of $7.152 million and total liabilities of $3.120 million.
TIQ’s Statement of Comprehensive Income is available on page 53.
Information relating to government bodies and overseas travel by TIQ staff and engagement of consultants and language services in 2017–18 has been published through the Queensland Government’s open data website www.data.qld.gov.au.