Statement of changes in equity
for the period ended 30 June 2019
|
Original Budget |
||||
|---|---|---|---|---|
|
2019 |
2018 |
2019 |
||
|
Notes |
$’000 |
$’000 |
$’000 |
|
|
CONTRIBUTED EQUITY |
||||
|
Opening balance |
||||
|
Balance carried forward from previous period |
46 701 |
42 070 |
47 201 |
|
|
Contributions by owners |
||||
|
Departmental capital budget |
5 838 |
4 631 |
5 838 |
|
|
Closing balance as at 30 June |
52 539 |
46 701 |
53 039 |
|
|
RETAINED EARNINGS |
||||
|
Opening balance |
||||
|
Balance carried forward from previous period |
1 095 491 |
1 107 524 |
1 097 187 |
|
|
Comprehensive income |
||||
|
(Deficit) for the period |
(14 090) |
(12 035) |
(9 471) |
|
|
Closing balance as at 30 June |
1 081 402 |
1 095 491 |
1 087 716 |
|
|
ASSET REVALUATION RESERVE |
||||
|
Opening balance |
||||
|
Balance carried forward from previous period |
365 859 |
338 170 |
338 168 |
|
|
Comprehensive income |
||||
|
Revaluation increment/(decrement) |
16 538 |
27 690 |
- |
|
|
Closing balance as at 30 June |
382 396 |
365 859 |
338 168 |
|
|
TOTAL EQUITY |
||||
|
Opening balance |
||||
|
Balance carried forward from previous period |
1 508 050 |
1 487 764 |
1 482 556 |
|
|
Comprehensive income |
||||
|
Surplus/(Deficit) for the period |
(14 090) |
(12 035) |
(9 471) |
|
|
Revaluation increment/(decrement) |
16 538 |
27 690 |
- |
|
|
Total comprehensive income |
2 448 |
15 655 |
(9 471) |
|
|
Transactions with owners |
||||
|
Contributions by owners |
||||
|
Departmental capital budget |
5 838 |
4 631 |
5 838 |
|
|
Total transactions with owners |
5 838 |
4 631 |
5 838 |
|
|
Closing balance as at 30 June |
1 516 337 |
1 508 050 |
1 478 923 |
|
- The above statement should be read in conjunction with the accompanying notes.
- This statement also represents the results for Outcome 1 as the Archives only has one outcome. Outcome 1 is described at the Overview note.
Significant 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.
Budget Variances Commentary (continued)
Statement of Changes in Equity
Deficit for the period
The deficit for the period was greater than the original budget primarily due to higher than expected employee and supplier expenditures.
Revaluation increment/(decrement)
The revaluation reserve movement was different to budget as it is difficult for the National Archives to anticipate any collection impairment or movements due to revaluation of assets at the time the original budget was prepared.
Visit
https://www.transparency.gov.au/annual-reports/national-archives-australia/reporting-year/2018-2019-28