Reserve Bank of Australia Annual Report – 1997 Financial Statements Note 6

Note 6 Bank premises and other durable assets (Note 1(e))

Premises
Opening balance 234,652 232,669
Net expenditure in year 4,724 (129)
239,376 232,540
Depreciation prior to revaluation (6,872) (7,091)
Book valuation prior to revaluation 232,504 225,449
Net revaluation adjustments (Note 3) 165 13,471
As at 30 June 232,669 238,920

The last triennial revaluation of Bank premises was at 30 June 1995; those valuations were updated as at 30 June 1997. Amounts written off Bank premises in terms of section 78 of the Reserve Bank Act (ie depreciation) totalled $7.091 million ($6.872 million in 1995/96).

Other durable assets
Opening balance 90,604 95,350
Additions less disposals at cost 4,747 9,229
Fully depreciated and disposed of (1) (6,741)
95,350 97,838
Accumulated depreciation (69,320) (68,547)
As at 30 June 26,030 29,291