Former ABC bosses lauded independence

Prior to a spectacular falling out that claimed both of their jobs and plunged the ABC board into crisis, Michelle Guthrie and Justin Milne joined forces to trumpet the importance of independence and trust.

Mr Milne orchestrated Ms Guthrie's removal as ABC managing director in September and was then forced to resign as chairman days later, accused of trying to get several journalists sacked to placate the government.

But in a somewhat ironic joint statement penned prior to their departures, the pair extolled the virtue of values.

"Values matter because they anchor communities in times of disruption. They provide security, stability and dependability," they wrote in the ABC's annual report, which was published on Wednesday.

They also spoke of the need for quality and community service.

"The public places a premium on institutions that manage change while staying true to their core values," the pair wrote.

"They mark down those institutions who sacrifice values for other priorities."

Mr Milne and Ms Guthrie jointly raised the alarm about shrinking funding and increased cost pressures facing the ABC.

They warned the broadcaster would need to make "significant adjustments" to deal with a three-year funding freeze announced by the government in May.

The freeze followed major reductions in funding for the ABC since 2014.

"Australians quite rightly expect the national broadcaster to use its funds effectively and efficiently," they wrote.

"However, there is a limit to the corporation's ability to continually absorb budget cuts. They curtail the ABC's ability to put internal efficiencies to best use - in new programming and services that audiences cherish."

The ousted ABC bosses said it was clear the public supported a properly-funded national broadcaster to provide quality in Australian media.

"They view the ABC as a valuable public asset and put their faith in a fully independent board and management working to a clearly defined charter to deliver," they wrote.

"It is this system that best protects the values of independence, trust and community service."

Prior to their high-profile departures from the public broadcaster, the pay packets of both Ms Guthrie and Mr Milne increased this year.

Ms Guthrie was paid $963,991 in 2018, up from $890,987 in 2017.

Mr Milne's remuneration increased almost four-fold from $45,963 to $187,213.