Statement of changes in equity for the period ended 30 June 2018
| 2018 $’000 | 2017 $’000 | 2018 Budget $’000 | |
| CONTRIBUTED EQUITY | |||
| Opening balance | 1,775 | 1,208 | 1,775 |
| Transactions with owners | |||
| Distributions to owners | |||
| Reduction to appropriation | (38) | - | - |
| Contributions by owners | |||
| Departmental capital budget | 414 | 567 | 414 |
| Closing balance | 2,151 | 1,775 | 2,189 |
| RETAINED SURPLUS | |||
| Opening balance | 8,450 | 7,918 | 6,796 |
| Comprehensive income | |||
| Surplus/(deficit) for the period | (1,159) | 532 | (1,122) |
| Closing balance | 7,291 | 8,450 | 5,674 |
| ASSET REVALUATION RESERVE | |||
| Opening balance | 763 | 1,899 | 1,899 |
| Comprehensive income | |||
| Other comprehensive income | - | (1,136) | - |
| Closing balance | 763 | 763 | 1,899 |
| TOTAL EQUITY | |||
| Opening balance | 10,988 | 11,025 | 10,470 |
| Comprehensive income | |||
| Surplus/(deficit) for the period | (1,159) | 532 | (1,122) |
| Other comprehensive income | - | (1,136) | - |
| Total Comprehensive income | (1,159) | (604) | (1,122) |
| Transactions with owners | |||
| Distributions to owners | |||
| Reduction to appropriation | (38) | - | - |
| Contributions by owners | |||
| Departmental capital budget | 414 | 567 | 414 |
| Total transactions with owners | 376 | 567 | 414 |
| Closing balance | 10,205 | 10,988 | 9,762 |
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.
The above statement should be read in conjunction wth accompanying notes.