Statement of changes in equity
For the period ended 30 June 2020
Retained surplus | Asset revaluation reserve | Total Equity | ||||
2020 $’000 | 2019 $’000 | 2020 $’000 | 2019 $’000 | 2020 $’000 | 2019 $’000 | |
Opening balance | ||||||
Balance carried forward | 34,156 | 34,590 | 8,012 | 7,075 | 42,168 | 41,665 |
Adjustment for initial application | (4,360) | – | – | – | (4,360) | – |
Adjusted opening balance | 29,796 | 34,590 | 8,012 | 7,075 | 37,808 | 41,665 |
Comprehensive income | ||||||
Surplus/(deficit) for the period | 6,283 | (434) | – | 937 | 6,283 | 503 |
Total comprehensive income | 6,283 | (434) | – | 937 | 6,283 | 503 |
of which: | ||||||
Attributable to the Australian Government | 6,283 | (434) | – | 937 | 6,283 | 503 |
Closing balance as at 30 June 2019 | 36,079 | 34,156 | 8,012 | 8,012 | 44,091 | 42,168 |
Accounting policy
Equity injections
Amounts appropriated which are designed as ‘equity injections’ for a year (less any formal reductions).
Other distributions to owners
The Public Governance, Performance and Accountability (Financial Reporting) Rule 2015 (FRR) requires that distributions to owners be debited to contributed equity unless it is in the nature of a dividend. In 2019–20 the Central Land Council (CLC) did not make any contributions to owners (2018-19 $0).
Visit
https://www.transparency.gov.au/annual-reports/central-land-council/reporting-year/2019-20-53