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Statement of Changes in Equity

for the period ending 30 June 2018

2018

2017

$’000

$’000

TOTAL EQUITY—OPENING BALANCE

Balance carried forward from previous period

Contributed equity

3,492

3,492

Asset revaluation reserve

239

-

Retained earnings

8,306

1,925

Adjusted opening balance

12,037

5,417

COMPREHENSIVE INCOME

Retained earnings

Surplus/(Deficit) for the period

10,099

6,381

Asset revaluation reserve

Other comprehensive income

-

239

Total comprehensive income

10,099

6,620

CONTRIBUTED EQUITY

Transactions with owners—contributed equity

Contributions by owners

Restructuring1

25,168

-

Total transactions with owners

25,168

-

TOTAL EQUITY

Contributed equity

28,660

3,492

Asset revaluation reserve

239

239

Retained earnings

18,405

8,306

Closing balance as at 30 June

47,304

12,037

1. In 2017 a restructure with the Department of Finance for the transfer to the Digital Transformation Agency (DTA) of whole-of-government ICT and ICT procurement policy and services functions. This restructure was finalised in 2018, transferring special account related balances (2017: nil), see note 6.1.

Accounting policy

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.

The above statement should be read in conjunction with the accompanying notes.