Note 15: Equity

Accounting policy

Equity is the Crown's investment in the Office and is measured as the difference between total assets and total liabilities. Equity is disaggregated and classified as taxpayers' funds and a memorandum account.

Breakdown of equity

NoteActual
2015/16
$000
Actual
2014/15
$000
Taxpayers' funds
Balance at 1 July 6,221 6,221
Surplus 976 2,075
Transfer of memorandum account net surplus for the year (899) (1,811)
Repayment of surplus to the Crown 13 (77) (264)
Balance at 30 June 6,221 6,221
Memorandum account 21
Balance at 1 July 2,345 534
Memorandum account net surplus for the year 899 1,811
Balance at 30 June 3,244 2,345
Total equity 9,465 8,566