Go to top of page

Statement of Changes in Equity

for the period ended 30 June 2019

2019

2018

Original Budget1

$'000

$'000

$'000

CONTRIBUTED EQUITY

Opening balance

Balance Carried Forward from Previous Period

11,414

10,463

11,414

Transactions with owners

Contribution by owners

Equity injection – Appropriations

-

100

-

Departmental capital budget

1,646

851

1,646

Total transactions with owners

1,646

951

1,646

Closing balance as at 30 June

13,060

11,414

13,060

RETAINED EARNINGS

Opening balance

Balance carried forward from previous period

(5,946)

(5,415)

(6,331)

Comprehensive income

Surplus/(Deficit) for the period

738

(531)

(896)

Total Comprehensive Income

738

(531)

(896)

Closing Balance as at 30 June

(5,208)

(5,946)

(7,227)

ASSET REVALUATION RESERVE

Opening balance

Balance carried forward from previous period

-

-

-

Comprehensive income

Other comprehensive income

16

-

-

Total comprehensive income

16

-

-

Closing balance as at 30 June

16

-

-

TOTAL EQUITY

Opening balance

Balance carried forward from previous period

5,468

5,048

5,083

Comprehensive income

Surplus/(Deficit) for the period

738

(531)

(896)

Other comprehensive income

16

-

-

Total comprehensive income

754

(531)

(896)

Transactions with owners

Contribution by owners

Equity Injection - Appropriations

-

100

-

Departmental capital budget

1,646

851

1,646

Total transactions with owners

1,646

951

1,646

Closing balance as at 30 June

7,868

5,468

5,833

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

1Original Budget reflects the figures in the 2018-19 Portfolio Budget Statements (PBS).

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.

Restructuring of Administrative Arrangements

Net assets received from or relinquished to another Government entity under a restructuring of administrative arrangements are adjusted at their book value directly against contributed equity.

Other Distributions to Owners

The FRR require that distributions to owners be debited to contributed equity unless it is in the nature of a dividend.

Budget Variances Commentary

Statement of Changes in Equity

Major budget variances for balances contained in the Statement of Changes in Equity have been included in the budget variances commentary for the Statement of Comprehensive Income and the Statement of Financial Position.