Statement of Changes in Equity for the year ended 30 June 2020
Retained earnings | Total equity | Original Budget | |||
2020 | 2019 | 2020 | 2019 |
| |
Opening Balance at 1 July | 10,300,593 | 6,300,000 | 10,300,593 | 6,300,000 | 10,322,000 |
Effect of the change in | |||||
-AASB 15 | (122,400) | - | (122,400) | - | - |
-AASB 16 | 54,184 | - | 54,184 | - | - |
Balance at 1 July restated | 10,232,377 | 6,300,000 | 10,232,377 | 6,300,000 | 10,322,000 |
Comprehensive Income | (1,775,106) | 4,000,593 | (1,775,106) | 4,000,593 | (1,974,000) |
Total Comprehensive Income/(Loss) for the year | (1,775,106) | 4,000,593 | (1,775,106) | 4,000,593 | (1,974,000) |
Balance at 30 June | 8,457,271 | 10,300,593 | 8,457,271 | 10,300,593 | 8,348,000 |
The original budget was reported in the 2019–20 Portfolio Budget Statements published in April 2019.
This statement should be read in conjunction with the accompanying notes.
Budget variance commentary
Budget variance explanations are outlined in Note 12. Explanations of major budget variances.
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