Statement of changes in equity
Annual report 2020/21.
for the year ended 30 June 2021
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.
| Notes | Actual 2020/21 $000 |
Actual 2019/20 $000 |
Main Estimates 2020/21 $000* |
Supplementary Estimates 2020/21 $000* |
Main Estimates 2021/22 $000* |
|
|---|---|---|---|---|---|---|
| Taxpayers' funds | ||||||
| Balance at 1 July | 6,221 | 6,221 | 6,221 | 6,221 | 6,221 | |
| Total comprehensive revenue and expense | 2,001 | (1,634) | 1,296 | 1,780 | (1,268) | |
| Transfer of memorandum account net (surplus)/deficit for the year | (384) | 3,385 | (1,296) | (1,780) | 1,268 | |
| Capital contribution | 200 | - | 1,508 | 200 | 2,900 | |
| Surplus repayment due to the Crown | (1,617) | (1,751) | - | - | - | |
| Balance at 30 June | 6,421 | 6,221 | 7,729 | 6,421 | 9,121 | |
| Memorandum account | ||||||
| Balance at 1 July | (1,559) | 1,826 | 206 | (1,558) | 422 | |
| Memorandum account net surplus/(deficit) for the year | 384 | (3,385) | 1,296 | 1,780 | (1,268) | |
| Balance at 30 June | 15 | (1,175) | (1,559) | 1,502 | 222 | (846) |
| Total equity | ||||||
| Balance at 1 July | 4,662 | 8,047 | 6,427 | 4,663 | 6,643 | |
| Balance at 30 June | 5,246 | 4,662 | 9,231 | 6,643 | 8,275 |
* All Estimates information is unaudited. The figures under Main Estimates 2020/21 reflect the forecasts published in Budget 2020 and in the Office's 2019/20 annual report, and the figures under Supplementary Estimates 2020/21 reflect the updated forecasts published in Budget 2021.
Explanations of significant variances against the Main Estimates are detailed in Note 20.
The accompanying notes form part of these financial statements.