Reserve Bank of Australia Annual Report – 1998 Financial Statements Note 3 – Reserves
| 1997 $'000 | 1998 $'000 | |
|---|---|---|
| Changes in the Bank's various Reserves are shown below. | ||
| Reserve Bank Reserve Fund (Note 1(f)) | ||
| Opening balance | 643,890 | 2,281,380 |
| Appropriation from profits in terms of section 30 of the Reserve Bank Act | 1,637,490 | 547,897 |
| As at 30 June | 2,281,380 | 2,829,277 |
| Reserve for Contingencies and General Purposes (Note 1(f)) | ||
| Opening balance | 2,955,699 | 3,322,946 |
| Appropriation from profits in terms of section 30 of the Reserve Bank Act | 367,247 | – |
| As at 30 June | 3,322,946 | 3,322,946 |
| Unrealised Profits Reserve (Notes 1(f), 16) | ||
| Opening Balance | – | 662,430 |
| Net transfers from Profit and Loss Appropriation | 662,430 | 1,686,606 |
| As at 30 June | 662,430 | 2,349,036 |
| Asset Revaluation Reserves (Notes 1(f), 16) | ||
| Gold | ||
| Opening balance | 3,472,670 | 1,588,663 |
| Net revaluation adjustments | (246,517) | 88,766 |
| Transfers to Profit and Loss Appropriation – realised (gains)/losses | (1,637,490) | (547,897) |
| As at 30 June | 1,588,663 | 1,129,532 |
| Shares in international financial institutions (Note 8) | ||
| Opening balance | 75,510 | 68,198 |
| Net revaluation adjustments | (7,312) | 9,117 |
| As at 30 June | 68,198 | 77,315 |
| Bank premises (Notes 1(e), 6) | ||
| Opening balance | 57,953 | 71,424 |
| Net revaluation adjustments | 13,471 | 18,587 |
| Transfers to Profit and Loss Appropriation – realised (gains)/losses | – | (9,612) |
| As at 30 June | 71,424 | 80,399 |
| Total Asset Revaluation Reserves | ||
| Opening balance | 3,606,133 | 1,728,285 |
| Net revaluation adjustments | (240,358) | 116,470 |
| Transfers to Profit and Loss Appropriation – realised (gains)/losses | (1,637,490) | (557,509) |
| As at 30 June | 1,728,285 | 1,287,246 |