Statement of Changes in Equity
for the period ended 30 June 2021
2021 | 2020 | Original budget | |
$'000 | $'000 | $'000 | |
ASSET REVALUATION RESERVE | |||
Opening balance | |||
Balance carried forward from previous period | 3,601 | 8,578 | 3,601 |
Adjusted opening balance | 3,601 | 8,578 | 3,601 |
Comprehensive income | |||
Restructuring | - | (5,516) | - |
Other comprehensive income | 294 | 539 | - |
Total comprehensive income | 294 | (4,977) | - |
Closing balance as at 30 June | 3,895 | 3,601 | 3,601 |
TOTAL EQUITY | |||
Opening balance | |||
Balance carried forward from previous period | 61,420 | 112,980 | 61,414 |
Other 1 | - | (492) | - |
Adjustment on initial application of AASB 16 2 | - | 22,069 | - |
Adjusted opening balance | 61,420 | 134,557 | 61,414 |
Comprehensive income | |||
Other comprehensive income | 294 | 539 | - |
(Deficit) for the period | (18,465) | (12,965) | (11,593) |
Total comprehensive income | (18,171) | (12,426) | (11,593) |
Transactions with owners | |||
Distributions to owners | |||
Restructuring 3 | (277) | (73,875) | - |
Contributions by owners | |||
Departmental Capital Budget | 8,109 | 13,164 | 8,209 |
Total transactions with owners | 7,832 | (60,711) | 8,209 |
Closing balance as at 30 June | 51,081 | 61,420 | 58,030 |
1 Relates to assets recognised by shared service clients.
2 PM&C applied AASB 16 Leases on 1 July 2019.
3 The NRRA was established on 5 May 2021. In the 2019-20 period, the NIAA was established on 1 July 2019, and the Deregulation agenda added to the portfolio on 4 December 2019. Refer to Note 8.2 Restructuring.
Accounting Policy Equity injections Amounts appropriated which are designated as equity injections for a year (less any formal reductions) and departmental capital budgets 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 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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https://www.transparency.gov.au/annual-reports/department-prime-minister-and-cabinet/reporting-year/2020-21-45