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Statement of Changes in Equity Current Report Period (2019–20)

30 June 2020

30 June 2019

Original Budget

30 June 2020

$'000

$'000

$'000

CONTRIBUTED EQUITY

Opening balance

Balance carried forward from previous period

4,788

4,658

4,590

Contributions by owners

Equity injection – appropriations

1,000

0

1,000

Departmental capital budget

132

130

132

Total transactions with owners

1,132

130

1,132

Closing balance as at 30 June

5,920

4,788

5,722

Retained earnings

Opening balance

Balance carried forward from previous period

(422)

(111)

0

Adjustment on initial application of AASB 16

20

0

0

Adjusted opening balance

(402)

(111)

0

Comprehensive income

Deficit for the period

(393)

(311)

(340)

Total comprehensive income

(393)

(311)

(340)

Closing balance as at 30 June

(795)

(422)

(340)

Asset revaluation reserve

Opening balance

Balance carried forward from previous period

253

253

0

Other comprehensive income

208

0

0

Closing balance as at 30 June

461

253

0

Total equity

Closing balance as at 30 June

5,586

4,619

5,382

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) and Departmental Capital Budgets (DCBs) are recognised directly in contributed equity in that year.

Budget variances commentary

Statement of Changes in Equity

ASADA undertook a valuation of property, plant and equipment at 30 June 2020, with the outcome providing an adjustment increment to the asset revaluation reserve.