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  • Statement of changes in equity

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    Statement of changes in equity for the period ended 30 June 2017
      Contributed Equity Asset Revaluation Surplus Retained Earnings Total Equity
    2017$'000 2016$'000 Original Budget$'000 2017$'000 2016$'000 Original Budget$'000 2017$'000 2016$'000 Original Budget$'000 2017$'000 2016$'000 Original Budget$'000
    Opening balance
    Balance carried forward from previous period 1,286,961 1,086,297 1,344,121 115,542 109,165 109,165 (1,120,593) (975,536) (1,165,490) 281,910 219,926 287,796
    Prior year adjustments1 - - - - - - - 16,668 - - 16,668 -
    Adjusted opening balance 1,286,961 1,086,297 1,344,121 115,542 109,165 109,165 (1,120,593) (958,868) (1,165,490) 281,910 236,594 287,796
    Comprehensive income
    Other comprehensive income - - - (23) 6,377 - - - - (23) 6,377 -
    (Deficit) for the period - - - -   - (176,355) (161,725) (196,215) (176,355) (161,725) (196,215)
    Total comprehensive income - - - (23) 6,377  - (176,355) (161,725)  (196,215)  (176,378) (155,348)  (196,215) 
    Transactions with owners
    Distributions to owners
    Returns of contributed equity 2 - (56,950) - - - - -   - - (56,950) -
    Contributions by owners
    Equity injection – appropriations 54,790 142,486 54,429 - - - - - - 54,790 142,486 54,429
    Departmental capital budget 111,619 115,128 111,619 - - -   - - 111,619 115,128 111,619
    Total transactions with owners 166,409 200,664  166,048  - - - - - - 166,409 200,664  166,048 
    Transfers between equity components - - - - - - - - - - - -
    Closing balance as at 30 June 1,453,370 1,286,961  1,510,169  115,519 115,542  109,165  (1,296,948) (1,120,593)  (1,361,705)  271,941 281,910  257,629 

    1 Prior year adjustment relates to the recovery of legal costs transferred from historical balances on administered business systems.

    2  Prior year returns of contributed equity relate to amounts withheld through a movement of funds or s.51 determination and represent a loss of control to the ATO. These amounts are not legal reductions and are therefore still included in Note 18B Unspent Annual Appropriations.

    Accounting Policy

    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: Statement of Changes in Equity

    Explanation of major variances

    The variances are supported by the explanations provided above in Statement of Comprehensive Income and Statement of Financial Position.

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

      Last modified: 30 Oct 2017QC 53593