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Statement of Changes in Equity

Statement of Changes in Equity

for the period ended 30 June 2019

2019

2018

Original Budget

1

Notes

$’000

$’000

$’000

CONTRIBUTED EQUITY

Opening balance

50,393

45,731

50,393

Transactions with owners

Contributions by owners

Equity injection - appropriations

4.1A

10,435

0

10,435

Departmental capital budget

4.1A

4,645

4,662

4,645

Total transactions with owners

15,080

4,662

15,080

Closing balance as at 30 June

65,473

50,393

65,473

RETAINED EARNINGS

Opening balance

(47,337)

(37,862)

(48,337)

Adjustment for changes in accounting policies

6.2A

(1)

0

0

Adjusted opening balance

(47,338)

(37,862)

(48,337)

Comprehensive income

Surplus (Deficit) for the period

1,560

(9,475)

(11,584)

Total comprehensive income

1,560

(9,475)

(11,584)

Closing balance as at 30 June

(45,778)

(47,337)

(59,921)

ASSET REVALUATION RESERVE

Opening balance

12,292

13,775

13,775

Comprehensive income

Other comprehensive income

Change in make good provision

(403)

24

0

Revaluation and impairments

3.2A

640

(1,507)

0

Total comprehensive income

237

(1,483)

0

Closing balance as at 30 June

12,529

12,292

13,775

TOTAL EQUITY

Opening balance

15,348

21,644

15,831

Adjustment for changes in accounting policies

(1)

0

0

Adjusted opening balance

15,347

21,644

15,831

Comprehensive income

Surplus (Deficit) for the period

1,560

(9,475)

(11,584)

Other comprehensive income

Change in make good provision

(403)

24

0

Revaluation and impairments

3.2A

640

(1,507)

0

Total comprehensive income

1,797

(10,958)

(11,584)

Transactions with owners

Contributions by owners

Equity injection - appropriations

4.1A

10,435

0

10,435

Departmental capital budget

4.1A

4,645

4,662

4,645

Total transactions with owners

15,080

4,662

15,080

Closing balance as at 30 June

32,224

15,348

19,327

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

Variance commentary is consolidated in the departmental budget variance commentary note.

1. Original budget as presented in the 2018-19 Portfolio Budget Statements (PBS).

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.