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Statement of Changes in Equity

Australian Institute of Aboriginal and Torres Strait Islander Studies

STATEMENT OF CHANGES IN EQUITY

for the period ended 30 June 2019

2019

$'000

2018

$'000

Original Budget

$'000

CONTRIBUTED EQUITY

Opening balance

Balance carried forward from previous period

3,835

3,761

3,835

Opening balance

3,835

3,761

3,835

Transactions with owners

Contributions by owners

Equity injection

74

74

74

Total transactions with owners

74

74

74

Closing balance as at 30 June

3,909

3,835

3,909

RETAINED EARNINGS

Opening balance

Balance carried forward from previous period

20,139

20,129

20,129

Opening balance

20,139

20,129

20,129

Comprehensive income

Surplus for the period

1,192

10

0

Total comprehensive income

1,192

10

0

Closing balance as at 30 June

21,331

20,139

20,129

ASSET REVALUATION RESERVE

Opening balance

Balance carried forward from previous period

13,971

13,971

13,971

Opening balance

13,971

13,971

13,971

Comprehensive income

Other comprehensive income

1,876

0

0

Total comprehensive income

1,876

0

0

Closing balance as at 30 June

15,847

13,971

13,971

TOTAL EQUITY

Opening balance

Balance carried forward from previous period

37,945

37,861

37,935

Opening balance

37,945

37,861

37,935

Comprehensive income

Surplus for the period

1,192

10

0

Other comprehensive income

1,876

0

0

Total comprehensive income

3,068

10

0

Transactions with owners

Contributions by owners

Equity injection

74

74

74

Total transactions with owners

74

74

74

Closing balance as at 30 June

41,087

37,945

38,009


The above statement should be read in conjunction with the accompanying notes.

Accounting Policy

Equity Injections

Amounts appropriated which are designated as ‘equity injections’ for a year (less any formal reductions) are recognised directly in contributed equity in that year.

Budget Variances Commentary

Equity is higher than budget due to the impacts of increases in the Asset Revaluation Reserve and the surplus this year.