Reserve Bank of Australia Annual Report – 1995 Financial Statements Bank Premises and Other Durable Assets

Note 6 Bank Premises and Other Durable Assets (Note 1(d))

1993/94
$'000
  1994/95
$'000
  Premises
264,748 Opening balance 261,045
29,546 Net expenditure in year 33,043
294,294   294,088
(6,083) Accumulated depreciation prior to revaluation (6,902)
288,211 Book valuation prior to revaluation 287,186
(27,166) Net revaluation adjustments (Note 3) (52,534)
261,045 As at 30 June 234,652

As recorded in Note 1(d), the triennial revaluation of Bank premises occurred in 1994/95. Amounts written off Bank premises in terms of section 78 of the Reserve Bank Act (ie depreciation) totalled $6.902 million ($6.083 million in 1993/94).

At 30 June 1995, outstanding contracts relating to major refurbishment of the Bank's buildings totalled $6.6 million.

  Other durable assets
106,851 Opening balance 85,594
(3,178) Net expenditure in year 5,044
(18,079) Fully depreciated and disposed of (34)
85,594 90,604
(55,643) Accumulated depreciation (63,960)
29,951 As at 30 June 26,644