Go to top of page

Statement of Changes in Equity

for the period ended 30 June 2018

2018

2017

$'000

$'000

CONTRIBUTED EQUITY

Opening balance

64,136

58,538

Transactions with owners

Distribution to owners

Restructuring1

10

-

Contributions by owners

Equity injection appropriation

4,750

300

Departmental capital budget appropriation

8,246

5,298

Total transactions with owners

13,006

5,598

Closing balance as at 30 June

77,142

64,136

RETAINED EARNINGS

Opening balance

(42,091)

(35,070)

Adjustment to opening balance

-

35

Comprehensive income

Surplus/(Deficit) for the period

(5,715)

(7,056)

Total comprehensive income

(5,715)

(7,056)

Distribution to owners

Repeal of Annual Appropriation2

(1,073)

-

Total transactions with owners

(1,073)

-

Closing balance as at 30 June

(48,879)

(42,091)

ASSET REVALUATION RESERVE

Opening balance

12,414

12,186

Comprehensive income

Other comprehensive income

320

378

Changes in provision for restoration

(58)

(150)

Total comprehensive income

262

228

Closing balance as at 30 June

12,676

12,414

TOTAL EQUITY

Opening balance

34,459

35,654

Adjustment to opening balance

-

35

Comprehensive income

Other comprehensive income

262

228

Surplus/(Deficit) for the period

(5,715)

(7,056)

Total comprehensive income

(5,453)

(6,828)

Transactions with owners

Restructuring1

10

-

Repeal of Annual Appropriation2

(1,073)

-

Contributions by owners

Equity injection appropriation

4,750

300

Departmental capital budget appropriation

8,246

5,298

Total transactions with owners

11,933

5,598

Closing balance as at 30 June

40,939

34,459

This statement should be read in conjunction with the accompanying notes.

  1. Refer to Note 8.1 Restructuring.
  2. 2012-13 quarantined balances were repealed upon the Royal Assent of the Appropriation Act (No.4) 2017-18.

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 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 (FRR) requires that distributions to owners be debited to contributed equity unless it is in the nature of a dividend.