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Department of Industry, Science, Energy and Resources Statement of Changes in Equity for the year ended 30 June 2020

2020

2019

Original Budget

$'000

$'000

$'000

TOTAL EQUITY

Opening balance

Balance carried forward from previous period

182,570

176,812

168,218

Opening balance adjustment

-

(535)

-

Adjustment on initial application of AASB 16

28,587

-

-

Adjusted opening balance

211,157

176,277

168,218

Comprehensive income

Deficit for the year

(45,666)

(25,591)

(38,626)

Other comprehensive income

8,600

722

-

Total comprehensive income

(37,066)

(24,869)

(38,626)

Transactions with owners

Distribution to owners

Appropriation (equity returns)

-

(297)

-

Contributions by owners

Equity injection - Appropriations

2,796

5,445

2,796

Departmental capital budget (DCB)

29,053

26,014

25,701

Restructuring

(3,831)

-

-

Total transactions with owners

28,018

31,162

28,497

Closing balance as at 30 June

202,109

182,570

158,089

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.

Restructuring of Administrative Arrangements

Net assets received from or relinquished to another Australian Government entity under a restructuring of administrative arrangements are adjusted at their book value directly against contributed equity.

Other Distributions to Owners

The Financial Reporting Rule requires that distributions to owners be debited to contributed equity unless it is in the nature of a dividend.