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
| Note | Actual 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 |