Statement of Changes in Equity
For the period ended 30 June 2020
2020 | 20191 | Original budget1 | |
$'000 | $'000 | $'000 | |
ASSET REVALUATION RESERVE | |||
Opening balance | |||
Balance carried forward from previous period | 8,578 | 5,760 | 5,760 |
Adjusted opening balance | 8,578 | 5,760 | 5,760 |
Comprehensive income | |||
Restructuring1 | -5,516 | 0 | 0 |
Other comprehensive income | 539 | 2,818 | 0 |
Total comprehensive income | -4,977 | 2,818 | 0 |
Closing balance as at 30 June | 3,601 | 8,578 | 5,760 |
TOTAL EQUITY | |||
Opening balance | |||
Balance carried forward from previous period | 112,980 | 111,604 | 118,610 |
Adjustment for changes in accounting policies | 0 | -584 | 0 |
Other2 | -492 | 0 | 0 |
Adjustment on initial application of AASB 163 | 22,069 | 0 | 0 |
Adjusted opening balance | 134,557 | 111,020 | 118,610 |
Comprehensive income | |||
Other comprehensive income | 539 | 2,818 | 0 |
Deficit for the period | -12,965 | -26,927 | -22,365 |
Total comprehensive income | -12,426 | -24,109 | -22,365 |
Transactions with owners | |||
Distributions to owners | |||
Return of capital: | |||
Restructuring1 | -73,875 | 0 | 0 |
Contributions by owners | |||
Appropriation (equity injection) | 0 | 8,273 | 1,897 |
Departmental Capital Budget (DCB) | 13,164 | 17,796 | 20,277 |
Total transactions with owners | -60,711 | 26,069 | 22,174 |
Closing balance as at 30 June | 61,420 | 112,980 | 118,419 |
1 The National Indigenous Australian Agency (NIAA) was established in the PM&C portfolio as at 1 July 2019. Prior year comparative information presented in these financial statements contain balances that have since transferred to NIAA. Refer Note 8.2 Restructuring.
2 Relates to assets recognised by shared service clients.
3 PM&C applied AASB 16 Leases on 1 July 2019.
Accounting Policy Equity injections Amounts appropriated which are designated as ‘equity injections’ for a year (less any formal reductions) and DCBs are recognised directly in contributed equity in that year. Restructuring of Administrative Arrangements Net assets received from or relinquished to another Government entity under a restructuring of administrative arrangements are adjusted at their book value directly against contributed equity. Other Distributions to/from 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. |
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