Statement of Changes in Equity
for the year ended 30 June 2020 | |||||
2020 | 2019 | Original Budget | |||
$ | $ | $ | |||
CONTRIBUTED EQUITY | |||||
Opening balance | |||||
Balance carried forward from previous period | 413,466 | 271,564 | 447,000 | ||
Adjusted opening balance | 413,466 | 271,564 | 447,000 | ||
Transactions with owners | |||||
Distributions to owners | |||||
Returns of capital | - | (32,098) | - | ||
Contributions by owners | |||||
Equity injection - appropriations | - | 150,000 | - | ||
Departmental capital budget | 24,000 | 24,000 | 24,000 | ||
Total transactions with owners | 24,000 | 141,902 | 24,000 | ||
Closing balance as at 30 June | 437,466 | 413,466 | 471,000 | ||
RETAINED EARNINGS | |||||
Balance carried forward from previous period | 1,652,360 | 1,363,581 | 1,394,000 | ||
Adjustment on initial application of AASB 16 | 870,531 | - | - | ||
Adjusted opening balance | 2,522,891 | 1,363,581 | 1,394,000 | ||
Comprehensive income | |||||
Surplus/(loss) for the period | 765,649 | 288,776 | (13,000) | ||
Other comprehensive income | - | - | - | ||
Total comprehensive income | 765,649 | 288,776 | (13,000) | ||
Closing balance as at 30 June | 3,288,540 | 1,652,357 | 1,381,000 | ||
TOTAL EQUITY | |||||
Opening balance | |||||
Balance carried forward from previous period | 2,065,826 | 1,635,145 | 1,841,000 | ||
Adjustment for changes in accounting policies | 870,531 | - | - | ||
Adjusted opening balance | 2,936,357 | 1,635,145 | 1,841,000 | ||
Comprehensive income | |||||
(Loss)/surplus for the period | 765,649 | 288,776 | (13,000) | ||
Other comprehensive income | - | - | - | ||
Total comprehensive income | 765,649 | 288,776 | (13,000) | ||
Transactions with owners | |||||
Distributions to owners | |||||
Returns on capital | - | (32,098) | - | ||
Contributions by owners | |||||
Equity injection | - | 150,000 | - | ||
Departmental capital budget | 24,000 | 24,000 | 24,000 | ||
Total transactions with owners | 24,000 | 141,902 | 24,000 | ||
Closing balance as at 30 June | 3,726,006 | 2,065,823 | 1,852,000 | ||
The above statement should be read in conjunction with the accompanying notes. | |||||
For Budgetary reporting information refer to Note 9. The original budget is the budget published in the 2019-20 Portfolio Budget Statements. The budget statement information has been reclassified and presented on a consistent basis with the corresponding financial statement items. | |||||
Accounting Policy Equity Injections Amounts appropriated which are designated as ‘equity injections’ for a year (less any formal reductions) and Departmental capital budgets are recognised directly in contributed equity in that year. | |||||
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https://www.transparency.gov.au/annual-reports/national-mental-health-commission/reporting-year/2019-20-34