Notes to the Financial Statementsfor the year ended 30 June 2006
23. Equity
Equity represents the residual interest in the net assets of the Authority. The Government holds the equity interest in the Authority on behalf of the community.
2006 $'000 |
2005 $'000 |
||
|---|---|---|---|
| Contributed equity | |||
| Balance at start of year | 632 |
632 |
|
| Capital contribution | 141 |
– |
|
| Balance at end of year | 773 |
632 |
Capital Contributions (appropriations) and non-discretionary (non-reciprocal) transfers of net assets from other State government agencies have been designated as contributions by owners in Treasurer’s Instruction 955 ‘Contributions by Owners Made to Wholly Owned Public Sector Entities’ and are credited directly to equity.
| Accumulated surplus/(deficit) | |||
| Balance at start of year | 900 |
807 |
|
| Result for the period | 806 |
90 |
|
| Income and expense recognised directly to equity | – |
3 |
|
| Balance at end of year | 1,706 |
900 |