Appendix 1 - Financial Statements
Statement Of Changes In Equity
| Retained Earnings | Asset Revaluation Reserves | Contributed Equity/Capital | Total Equity | |||||
|---|---|---|---|---|---|---|---|---|
| 2008 $ | 2007 $ | 2008 $ | 2007 $ | 2008 $ | 2007 $ | 2008 $ | 2007 $ | |
| Opening balance Balance carried forward from previous period |
10,385,969 | 7,919,924 | 22,832 | 22,832 | 700,000 | 700,000 | 11,108,801 | 8,642,756 |
| Adjustment for errors | - | - | 35,760 | - | - | - | 35,760 | - |
| Adjusted opening balance | 10,385,969 | 7,919,924 | 58,592 | 22,832 | 700,000 | 700,000 | 11,144,561 | 8,642,756 |
| Surplus (Deficit) for the period | 147,649 | 2,466,045 | - | - | - | - | 147,649 | 2,466,045 |
| Total income and expenses | 10,533,618 | 10,385,969 | 58,592 | 22,832 | 700,000 | 700,000 | 11,292,210 | 11,108,801 |
| Transactions with owners Returns of capital: Other (appropriations - see Note 14) |
(9,493,000) | - | - | - | - | - | (9,493,000) | - |
| Sub-total transactions with owners | (9,493,000) | - | - | - | - | - | (9,493,000) | - |
| Closing balance attributed to the Australian Government at 30 June | 1,040,618 | 10,385,969 | 58,592 | 22,832 | 700,000 | 700,000 | 1,799,210 | 11,108,801 |
- NOTE: The adjustment for errors reported against retained earnings in 2008 relates to the revaluation of the makegood asset in the 2006-07 financial year, which was not adjusted in line with the makegood provision.
- The above statement should be read in conjunction with the accompanying notes