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Statement of Changes in Equity for the period ended 30 June 2020

2020

2019

Original budget

$'000

$'000

$'000

CONTRIBUTED EQUITY

Opening balance

1,836

1,836

1,836

Closing balance attributable to the Australian Government as at 30 June

1,836

1,836

1,836

RETAINED EARNINGS

Opening balance

1,585

995

1,195*

Adjustment on initial application of AASB 16

103

-

-*

Comprehensive income

Surplus for the period

203

590

-*

Total comprehensive income

203

590

1,195

Closing balance attributable to the Australian Government as at 30 June

1,891

1,585

1,195

ASSET REVALUATION RESERVE

Opening balance

298

5

5*

Changes in asset revaluation surplus

-

293

-

Total comprehensive income

-

293

5

Closing balance attributable to the Australian Government as at 30 June

298

298

5

TOTAL EQUITY

Opening balance

3,719

2,836

3,036

Adjustment on initial application of AASB 16

103

-

-*

Comprehensive income

Surplus for the period

203

590

-*

Other comprehensive income

-

293

-

Total comprehensive income

203

883

3,036

Closing balance attributable to the Australian Government

4,025

3,719

3,036

The above statement should be read in conjunction with the accompanying notes. * Explanations for major variances to budget are made in note 6.2.