Reserve Bank of Australia Annual Report – 1993 Financial Statements Cash Flow Statement
Note 16 Cash Flow Statement
The following cash flow statement appears as a matter of record to meet the requirements of AAS 28; in the Bank's view it does not shed any additional light on the Bank's financial results.
For the purposes of the statement of cash flows, cash includes notes and coin held at the Reserve Bank and overnight settlements account balances with other banks.
STATEMENT OF CASH FLOWS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 1993
| 1991/92 lnflow/(outflow) $'000 |
1992/93 lnflow/(outflow) $'000 |
||
|---|---|---|---|
| Cash flows from operating activities | |||
| 1,873,989 | Interest received on investments | 1,993,005 | |
| 37,039 | Interest received on loans, advances, etc. and on overnight settlements | 16,872 | |
| 4,668 | Loan management reimbursement | 3,852 | |
| 6,756 | Banking service fees received from Commonwealth | 6,869 | |
| 7,218 | Rents received | 4,886 | |
| (1,491,386) | Net payments for and proceeds from sale of investments | (923,891) | |
| (299,881) | Interest paid on deposit liabilities and on overnight settlements | (200,954) | |
| (137,311) | Staff costs | (112,650) | |
| 2,223 | IMF Maintenance of Value adjustment | (10,218) | |
| (37,502) | Premises, equipment and stores | (35,873) | |
| 2,506 | Other | 9,478 | |
| (31,681) | Net cash provided by operating activities | 751,376 | |
| Cash flows from investment activities | |||
| (40,719) | Net expenditure on premises and durable assets | (30,939) | |
| (40,719) | Net cash used in investing activities | (30,939) | |
| Cash flows from financing activities | |||
| (1,503,319) | Profit payment to Commonwealth | (2,554,108) | |
| (8,277) | Net decrease in clearing items | (276,389) | |
| (711,838) | Net increase in deposit liabilities | 653,385 | |
| (34,003) | Net movement in Special Reserve – IMF SDRs | (99,127) | |
| 1,905 | Net increase in loans and advances | (4,290) | |
| 386,419 | Net increase in notes on issue | 1,187,582 | |
| 45,345 | Other | (60,001) | |
| (1,823,768) | Net cash provided by financing activities | (1,152,948) | |
| (1,896,168) | Net increase (decrease) in cash | (432,511) | |
| 1,828,452 | Cash at beginning of financial year | (67,716) | |
| (67,716) | Cash at end of financial year | (500,227) | |
| Reconciliation of Cash |
30 June 1991 $'000 |
30 June 1992 $'000 |
30 June 1993 $'000 |
|---|---|---|---|
| Cash | 80,413 | 101,376 | 107,813 |
| Overnight settlements | 1,748,039 | (169,092) | (608,040) |
| 1,828,452 | (67,716) | (500,227) |
| Reconciliation of net cash provided by operating activities to net profit in terms of the Reserve Bank Act |
1991/92 $'000 | 1992/93 $'000 |
|---|---|---|
| Net Profit in terms of Reserve Bank Act | 2,554,108 | 3,913,151 |
| S78 transfers to reserves | – | 650,000 |
| Increase in interest payable | (11,047) | (1,915) |
| Increase in interest receivable | 2,978 | 640 |
| Gain on sale of foreign currency | (292,105) | (1,984,766) |
| Gain on sale of investments | (745,156) | (817,638) |
| Increase in income accrued on investments | (90,752) | (110,704) |
| Amounts written off Bank premises | 6,500 | 5,896 |
| Depreciation of durable assets | 10,289 | 10,836 |
| IMF Maintenance of Value adjustment (including accrual to end June) | 25,240 | 5,595 |
| Increase in accrued expenses | (3,604) | 665 |
| Net payments for and proceeds from sale of domestic and foreign investments | (1,491,386) | (923,891) |
| Other | 3,254 | 3,507 |
| Net cash provided by operating activities | (31,681) | 751,376 |
B.W. FRASER
Chairman, Reserve Bank Board – 3 August 1993