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Statement of Changes in Equity

ROYAL AUSTRALIAN MINT

Statement of Changes in Equity

for the period ended 30 June 2019

Retained surplus

Asset revaluation reserve

Buffer stock reserves

Contributed equity/capital

Total equity

2019

2018

Original Budget

2019

2018

Original Budget

2019

2018

Original Budget

2019

2018

Original Budget

2019

2018

Original Budget

$’000

$'000

$'000

$’000

$’000

$'000

$’000

$’000

$'000

$’000

$’000

$'000

$’000

$’000

$'000

Opening balance

Balance carried forward from previous period

27,725

13,779

19,878

20,798

21,162

21,162

20,000

20,000

20,000

77,903

77,903

77,903

146,426

132,844

138,943

Comprehensive income

Other comprehensive income

Changes in asset revaluation reserves from revaluation and impairment

-

-

-

(140)

(364)

-

-

-

-

-

-

-

(140)

(364)

-

Tax effect on revaluation

-

-

-

(42)

-

-

-

-

-

-

-

-

(42)

-

-

Surplus for the period

8,592

13,946

10,980

-

-

-

-

-

-

-

-

-

8,592

13,946

10,980

Total comprehensive income

8,592

13,946

10,980

(182)

(364)

-

-

-

-

-

-

-

8,410

13,582

10,980

Attributable to the Australian Government

8,592

13,946

10,980

(182)

(364)

-

-

-

-

-

-

-

8,410

13,582

10,980

Other movements

Changes in asset revaluation reserves from asset disposal

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Closing balance as at 30 June

36,317

27,725

30,858

20,616

20,798

21,162

20,000

20,000

20,000

77,903

77,903

77,903

154,836

146,426

149,923

Closing balance attributable to the Australian Government

36,317

27,725

30,858

20,616

20,798

21,162

20,000

20,000

20,000

77,903

77,903

77,903

154,836

146,426

149,923

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

Accounting Policy

Buffer Stock Reserve

The $20 million Buffer Stock Reserve was provided by the Department of the Treasury to the Mint's Special Account in 2008 to establish a circulating coin buffer stock. It represents the minimum level of circulating coins inventory that the Mint needs to hold in stock to service unexpected demand and also to provide for other unexpected contingencies.