Go to top of page

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