Disability Services Commission Annual Report

4.1 Financial Statements
Disability Services Commission
Statement of Changes in Equity
For the year ended 30 June 2008
Note
2008
$000
2007
$000
Balance of equity at start of period 34,979 30,860
CONTRIBUTED EQUITY
Balance at start of period 25 8,909 15,883
Capital Contribution 7,441 811
Distributions to owners - (7,785)
Balance at end of period 16,350 8,909
RESERVES
Asset Revaluation Reserve
Balance at start of period 25 55,060 44,851
Gains/(losses) from asset revaluation 6,816 10,209
Balance at end of period 61,876 55,060
ACCUMULATED SURPLUS
Balance at start of period 25 (28,990) (29,874)
Change in accounting policy(b) - (1,376)
Restated balance at start of period (28,990) (31,250)
Surplus/(deficit) for the period 3,021 2,260
Balance at end of period (25,969) (28,990)
Balance of equity at end of period 52,257 34,979
Total income and expense for the period (a) 9,837 12,469
(a) The aggregate net amount attributable to each category of equity is: surplus $3,021,000 plus
gains from asset revaluation of $6,816,000 (2007: surplus $2,260,000 plus gains from asset
revaluation of $ 10,209,000)
(b) During the year, the Commission increased its asset capitalisation threshold from $1,000 to
$5,000. The change in accounting policy was applied retrospectively in accordance with AASB
108 ‘Accounting Policies, Changes in Accounting Estimates and Errors’.
The Statement of changes in Equity should be read in conjunction with the accompanying notes.
Disability Services Commission Annual Report 2007–2008 57