The Prisoners’ Aid Association of New South Wales Inc has released its Statement of Changes in Equity for the year ended 30 June 2017. This report shows how the organization’s retained earnings and total equity evolved over a two-year period, reflecting both surpluses and deficits.
- Balance at 1 July 2015: Retained earnings and total equity stood at $189,948.
- Year Ended 30 June 2016:
- Surplus/(Deficit) after income tax: $(23,806)
- Closing retained earnings and total equity: $166,142
- Year Ended 30 June 2017:
- Surplus/(Deficit) after income tax: $64,137
- Closing retained earnings and total equity: $230,279
These figures highlight how a deficit in 2016 brought equity down from $189,948 to $166,142, before surging in 2017 due to a sizeable surplus. The resulting balance of $230,279 underscores the Association’s improved financial position at the close of the 2017 financial year. This stronger equity base provides a foundation for Prisoners’ Aid NSW to continue supporting individuals transitioning out of the justice system.
