Reserve Bank of Australia Annual Report – 1960 Financial Statements Profit and Loss Appropriation Statement

For year ended 30th June, 1960

		1960	1959
Net profits appropriated as follows:
Central Banking Business:
Reserve Bank Reserve Fund	2,690,485		2,100,158
Commonwealth of Australia	2,690,485	5,380,970	*2,100,158
Note Issue Department:
Commonwealth of Australia		10,516,002	10,935,095
Rural Credits Department:
Rural Credits Department Reserve Fund	161,054		113,421
Rural Credits Development Fund	161,054	322,108	113,420
	Total	£16,219,080	£15,362,252
* 1959—appropriated to National Debt Sinking Fund

	1960	1959
Net profits (after deducting amounts written off bank premises and amounts provided for contingencies):
Central Banking Business	5,380,970	4,200,316
Note Issue Department	10,516,002	10,935,095
Rural Credits Department	322,108	226,841
Total	£16,219,080	£15,362,252

H.C. COOMBS, Chairman, Reserve Bank Board—17th August, 1960

Auditor-General's Report

The above Balance-sheet and Profit and Loss Appropriation Statement have been examined and are in agreement with the accounts and records as shown in the books of the Head Office and the certified returns from Branches and Agencies. In my opinion the statements show fairly the financial operations of the Bank during the year ended 30th June, 1960, and the state of affairs as at that date.

H.C. NEWMAN, Auditor-General for the Commonwealth—19th August, 1960