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Statement of changes in equity

for the period ended 30 June 2020

2020

2019

Original Budget

Notes

$’000

$’000

$’000

CONTRIBUTED EQUITY

Opening balance

Balance carried forward from previous period

557

557

557

Closing balance as at 30 June

557

557

557

RETAINED EARNINGS

Opening balance

Balance carried forward from previous period

1,360

1,327

1,327

Opening balance

1,360

1,327

1,327

Comprehensive income

Surplus for the period

514

33

-

Total comprehensive income

514

33

-

Closing balance as at 30 June

1,874

1,360

1,327

TOTAL EQUITY

Opening balance

Balance carried forward from previous period

1,917

1,884

1,884

Opening balance

1,917

1,884

1,884

Comprehensive income

1

Surplus for the period

514

33

-

Total comprehensive income

514

33

-

Closing balance as at 30 June

2,431

1,917

1,884

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

Budget Variances Commentary

The following commentary provides a comparison of the original budget as presented in the 2019-20 Portfolio Budget Statements (PBS) to the 2019-20 actuals.

Statement of Changes in Equity

1. Overall equity for 2019-20 has increased due to the surplus for the period.