Statement of changes in equity
for the period ended 30 June 2019
|
Notes |
2019 |
2018 |
Original Budget 2019 |
|
|
CONTRIBUTED EQUITY |
||||
|
Opening balance |
||||
|
Balance carried forward from previous period |
4,173,511 |
2,898,295 |
4,246,000 |
|
|
Adjusted opening balance |
4,173,511 |
2,898,295 |
4,246,000 |
|
|
Adjustment to revaluation reserve due to disposal of assets |
– |
178,216 |
– |
|
|
Transactions with owners |
||||
|
Contributions by owners |
||||
|
Departmental capital budget |
189,000 |
190,000 |
189,000 |
|
|
Equity injection |
– |
907,000 |
– |
|
|
Total transactions with owners |
189,000 |
1,097,000 |
189,000 |
|
|
Closing balance as at 30 June |
4,362,511 |
4,173,511 |
4,435,000 |
|
|
RETAINED EARNINGS |
||||
|
Opening balance |
||||
|
Balance carried forward from previous period |
(1,998,816) |
(1,655,354) |
(2,316,000) |
|
|
Adjusted opening balance |
(1,998,816) |
(1,655,354) |
(2,316,000) |
|
|
Comprehensive income |
||||
|
Deficit for the period |
(405,387) |
(343,462) |
(347,000) |
|
|
Total comprehensive income |
(405,387) |
(343,462) |
(347,000) |
|
|
Closing balance as at 30 June |
(2,404,203) |
(1,998,816) |
(2,663,000) |
|
|
ASSET REVALUATION RESERVE |
||||
|
Opening balance |
||||
|
Balance carried forward from previous period |
214,420 |
392,636 |
393,000 |
|
|
Adjusted opening balance |
214,420 |
392,636 |
393,000 |
|
|
Adjustment to revaluation reserve due to disposal of assets |
– |
(178,216) |
– |
|
|
Comprehensive income |
||||
|
Changes in asset revaluation surplus |
82,210 |
– |
– |
|
|
Total comprehensive income |
82,210 |
– |
– |
|
|
Closing balance as at 30 June |
296,630 |
214,420 |
393,000 |
|
|
TOTAL EQUITY |
2,254,938 |
2,389,115 |
2,165,000 |
The above statement should be read in conjunction with the accompanying notes.
Budget variances commentary
Australian Institute of Family Studies ‘the Institute’ original budgeted financial statement was first presented to Parliament in respect of the reporting period in the 2018/19 PBS.
Explanations of major variance between actual and original budgeted amounts for 2018/19 are provided where the variance is greater than 10% for a line item or greater than $251,000 unless the variance is a trivial amount.
|
Explanations of major variances |
Affected line items |
|
The result for the year was an increased deficit due to revenue for contract research being lower than anticipated. |
Deficit for the period |
Visit
https://www.transparency.gov.au/annual-reports/australian-institute-family-studies/reporting-year/2018-2019-46