Statement of Changes in Equity
for the year ended 30 June 2020 | ||||
2020 to Original Budget Explanation | 2020 | 2019 | 2020 Original Budget(a) | |
(Note 1) | $'000 | $'000 | $'000 | |
Contributed equity | ||||
Opening balance as at 1 July | 93,640 | 93,640 | 93,640 | |
Closing balance as at 30 June | 93,640 | 93,640 | 93,640 | |
Asset revaluation reserve | ||||
Opening balance as at 1 July | 793,615 | 758,012 | 758,012 | |
Net revaluation of land and buildings | G,H | (9,967) | 35,603 | - |
Closing balance as at 30 June | 783,648 | 793,615 | 758,012 | |
Retained Surplus | ||||
Opening balance as at 1 July | 184,401 | 181,700 | 186,351 | |
(Deficit)/surplus | (8,394) | 2,701 | (11,130) | |
Closing balance as at 30 June | 176,007 | 184,401 | 175,221 | |
Total equity as at 30 June | 1,053,295 | 1,071,656 | 1,026,873 |
The above statement should be read in conjunction with the accompanying notes.
(a) Original Budget as reflected in the May 2019 Portfolio Budget Statements for the ABC.
Recognition and measurement - Transactions with Government as Owner
The Public Governance, Performance and Accountability (Financial Reporting) Rule 2015 (FRR) requires that distributions to owners be debited to contributed equity unless it is in the nature of a dividend. No distributions were made to Government for the year ended 30 June 2020 (2019 nil).
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https://www.transparency.gov.au/annual-reports/australian-broadcasting-corporation/reporting-year/2019-20-31