Statement of changes in equity for the year ended 30 June 2022
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 2021/22 $000 |
Actual 2020/21 $000 |
Main Estimates 2021/22 $000* |
Supplementary Estimates 2021/22 $000* |
Main Estimates 2022/23 $000* |
|
| Taxpayers’ funds | ||||||
| Balance at 1 July | 6,421 | 6,221 | 6,221 | 6,421 | 6,421 | |
| Total comprehensive revenue and expense | (1,813) | 2,001 | (1,268) | (981) | (5,476) | |
| Transfer of memorandum account net (surplus)/ deficit for the year | 4,928 | (384) | 1,268 | 981 | 5,476 | |
| Capital contribution | 1,800 | 200 | 2,900 | 1,800 | 1,904 | |
| Surplus repayment due to the Crown | (3,115) | (1,617) | - | - | - | |
| Balance at 30 June | 8,221 | 6,421 | 9,121 | 8,221 | 8,325 | |
| Memorandum account | ||||||
| Balance at 1 July** | (2,282) | (2,666) | 422 | (1,174) | 6,445 | |
| Memorandum account net surplus/(deficit) for the year | (4,928) | 384 | (1,268) | (981) | (5,476) | |
| Capital contribution | 6,800 | - | - | 6,800 | 5,700 | |
| Balance at 30 June** | 15 | (410) | (2,282) | (846) | 4,645 | 6,669 |
| Total equity | ||||||
| Balance at 1 July** | 4,139 | 3,555 | 6,643 | 5,247 | 12,866 | |
| Balance at 30 June | 7,811 | 4,139 | 8,275 | 12,866 | 14,994 |
* All Estimates information is unaudited. The figures under Main Estimates 2021/22 reflect the forecasts published in Budget 2021 and in the Office’s 2020/21 annual report, and the figures under Supplementary Estimates 2021/22 reflect the updated forecasts published in Budget 2022.
** The comparative balances have been restated to reflect a previous period adjustment (see Note 1 for more information).
Explanations of significant variances against the Main Estimates are detailed in Note 20.