Statement of changes in equity
|
Notes |
2019 $'000 |
2018 $'000 |
Original budget $'000 |
Revised budget $'000 |
|
|---|---|---|---|---|---|
|
CONTRIBUTED EQUITY |
|||||
|
Opening balance |
|||||
|
Balance carried forward from previous period |
26,163 |
24,384 |
26,162 |
26,163 |
|
|
Adjusted opening balance |
26,163 |
24,384 |
26,162 |
26,163 |
|
|
Transactions with owners |
|||||
|
Contributions by owners |
|||||
|
Equity injection - Appropriations |
5.1A |
1,321 |
1,016 |
1,321 |
1,321 |
|
Departmental capital budget |
5.1A |
760 |
763 |
758 |
758 |
|
Total transactions with owners |
2,081 |
1,779 |
2,079 |
2,079 |
|
|
Closing balance as at 30 June |
28,244 |
26,163 |
28,241 |
28,242 |
|
|
RETAINED EARNINGS |
|||||
|
Opening balance |
|||||
|
Balance carried forward from previous period |
(1,701) |
(12,340) |
(5,234) |
(1,701) |
|
|
Adjusted opening balance |
(1,701) |
(12,340) |
(5,234) |
(1,701) |
|
|
Comprehensive income |
|||||
|
Surplus/(Deficit) for the period |
1,439 |
10,639 |
(1,300) |
(1,300) |
|
|
Total comprehensive income |
1,439 |
10,639 |
(1,300) |
(1,300) |
|
|
Closing balance as at 30 June |
(262) |
(1,701) |
(6,534) |
(3,001) |
|
|
ASSET REVALUATION RESERVE |
|||||
|
Opening balance |
|||||
|
Balance carried forward from previous period |
13,218 |
13,168 |
13,168 |
13,219 |
|
|
Adjusted opening balance |
13,218 |
13,168 |
13,168 |
13,219 |
|
|
Comprehensive income |
|||||
|
Other comprehensive income |
3.2A |
(10,721) |
50 |
- |
- |
|
Total comprehensive income |
(10,721) |
50 |
- |
- |
|
|
Closing balance as at 30 June |
2,497 |
13,218 |
13,168 |
13,219 |
|
|
TOTAL EQUITY |
|||||
|
Opening balance |
|||||
|
Balance carried forward from previous period |
37,680 |
25,212 |
34,096 |
37,681 |
|
|
Adjusted opening balance |
37,680 |
25,212 |
34,096 |
37,681 |
|
|
Comprehensive income |
|||||
|
Surplus/(Deficit) for the period |
1,439 |
10,639 |
(1,300) |
(1,300) |
|
|
Other comprehensive income |
3.2A |
(10,721) |
50 |
- |
- |
|
Total comprehensive income |
(9,282) |
10,689 |
(1,300) |
(1,300) |
|
|
Transactions with owners |
|||||
|
Contributions by owners |
|||||
|
Equity injection - Appropriations |
5.1A |
1,321 |
1,016 |
1,321 |
1,321 |
|
Departmental capital budget |
5.1A |
760 |
763 |
758 |
758 |
|
Total transactions with owners |
2,081 |
1,779 |
2,079 |
2,079 |
|
|
Closing balance as at 30 June |
30,479 |
37,680 |
34,875 |
38,460 |
The above statement should be read in conjunction with the accompanying notes.
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.
|
Statement of Changes in Equity |
Affected line items and statement |
|---|---|
|
Retained earnings |
|
|
Brought forward $3.533m (68%) more than budget in retained earnings, primarily due to 2017-18 underspends that contributed to the additional $5.669m surplus in the prior year, post the 2018-19 budget finalisation. |
Balance carried forward from previous period |
|
Comprehensive income |
|
|
As per Statement of Comprehensive Income Budget Variances Commentary, additional revenue offset by supplier underspends led to an overall surplus for 2018-19. |
Surplus/(Deficit) for the period |
|
Departmental non-financial assets were subject to a comprehensive independent valuation which resulted in a reduction to the fair value of $10.721m. See note 3.2A for further details. |
Other comprehensive income |
Visit
https://www.transparency.gov.au/annual-reports/great-barrier-reef-marine-park-authority/reporting-year/2018-2019-43