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Statement of changes in equity as at 30 June 2020

Notes

2020
$’000

2019
$’000

Original
Budget
$'000

CONTRIBUTED EQUITY

Opening balance

Balance carried forward from previous period

37,621

37,440

37,621

Adjusted opening balance

37,621

37,440

37,621

Transactions with owners

Equity injection

355

181

355

Total transactions with owners

355

181

355

Closing balance as at 30 June 2020

37,976

37,621

37,976

RETAINED EARNINGS

Opening balance

Balance carried forward from previous period

24,512

34,418

24,289

Adjustment on initial application of AASB 15 / AASB 1058

6,969

-

-

Adjusted opening balance

31,481

34,418

24,289

Comprehensive income

Deficit for the period

(20,898)

(9,906)

(5,463)

Total comprehensive income

(20,898)

(9,906)

(5,463)

Closing balance as at 30 June 2020

10,583

24,512

18,826

ASSET REVALUATION RESERVE

Opening balance

Balance carried forward from previous period

184,978

188,796

188,796

Adjusted opening balance

184,978

188,796

188,796

Comprehensive income

Other comprehensive income

3.2A

10,556

(3,818)

-

Total comprehensive income

10,556

(3,818)

-

Closing balance as at 30 June 2020

195,534

184,978

188,796

TOTAL EQUITY

Opening balance

Balance carried forward from previous period

247,111

260,654

250,706

Adjusted opening balance

247,111

260,654

250,706

Comprehensive income

Deficit for the period

(20,898)

(9,906)

(5,463)

Adjustment on initial application of AASB 15 / AASB 1058

6,969

-

-

Other comprehensive income

10,556

(3,818)

-

Total comprehensive income

(3,373)

(13,724)

(5,463)

Transactions with owners

Equity injection

4.1

355

181

355

Total transactions with owners

355

181

355

Closing balance as at 30 June 2020

244,093

247,111

245,598

Accounting Policy
Amounts appropriated which are designated as 'equity injections' for a year (less any formal reductions) are received directly by the Department of Agriculture, Water and the Environment and are transferred to the Director of National Parks. These amounts are recognised directly in Contributed Equity in that year.

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