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Statement of Changes in Equity

Statement of Changes in Equity

for the period ended 30 June 2020

2020

2019

Original Budget

Notes

$’000

$’000

$’000

CONTRIBUTED EQUITY

Opening balance

Balance carried forward from previous period

13,546

13,173

19,184

Adjusted opening balance

13,546

13,173

19,184

Transactions with owners

Distributions to owners

Other1, 2 - Appropriation returned

(14,000)

(372)

-

Contributions by owners

Equity injection - Appropriations

68

329

68

Departmental capital budget

590

416

590

Total transactions with owners

(13,342)

373

658

Closing balance as at 30 June

204

13,546

19,842

RETAINED EARNINGS

Opening balance

Balance carried forward from previous period

5,371

5,982

-

Adjusted opening balance

5,371

5,982

-

Comprehensive income

Deficit for the period

(952)

(610)

(747)

Total comprehensive income

(952)

(610)

(747)

Closing balance as at 30 June

4,419

5,371

(747)

ASSET REVALUATION RESERVE

Opening balance

Balance carried forward from previous period

430

461

-

Adjusted opening balance

430

461

-

Comprehensive income

Other comprehensive income

109

(31)

-

Total comprehensive income

109

(31)

-

Closing balance as at 30 June

539

430

-

Total Equity as at 30 June

5,162

19,347

19,095

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

1. The comparatives for 2018-2019 have been restated to reflect an overstatement of $0.305 million to the opening balance of contributed equity, a return of $0.372 million in lapsed funding, a $0.329 million understatement of Equity injection and a $0.055 million understatement to the Departmental capital budget. The amounts relate to a movement of funds, further details can be found in the Overview section.

2. An unspent amount of $14.0m relating to missing Malaysia Airlines Flight 370 (MH370) was quarantined under section 51 of the Constitution of Australia during 2019-20.