Reserve Bank of Australia Annual Report – 2003 Financial Statements Note 13 – Remuneration of Executives
The number of executives whose remuneration packages, measured in terms of costs to the RBA, fell within the following bands was:
| Remuneration band | Number 2003 |
Number 2002 |
|---|---|---|
| $100,000 – $109,999 | 1 | 4 |
| $110,000 – $119,999 | 1 | |
| $120,000 – $129,999 | 6 | 8 |
| $130,000 – $139,999 | 5 | 14 |
| $140,000 – $149,999 | 14 | 13 |
| $150,000 – $159,999 | 13 | 7 |
| $160,000 – $169,999 | 6 | 4 |
| $170,000 – $179,999 | 3 | 4 |
| $180,000 – $189,999 | 2 | 3 |
| $190,000 – $199,999 | 4 | 5 |
| $200,000 – $209,999 | 5 | 1 |
| $210,000 – $219,999 | 1 | |
| $220,000 – $229,999 | 1 | |
| $230,000 – $239,999 | 2 | |
| $240,000 – $249,999 | 1 | 6 |
| $250,000 – $259,999 | 1 | |
| $260,000 – $269,999 | 4 | 1 |
| $270,000 – $279,999 | 1 | |
| $300,000 – $309,999 | 4 | |
| $310,000 – $319,999 | 1 | |
| $320,000 – $329,999 | 4 | |
| $340,000 – $349,999 | 1 | |
| $380,000 – $389,999 | 1 | |
| $490,000 – $499,999 | 1 | |
| $500,000 – $509,999 | 1 |
Total remuneration received or due and receivable by these 76 executives amounted to $14.140 million (78 executives totalling $13.668 million in 2001/02). Remuneration includes cash salary, the RBA's contribution to superannuation, housing assistance, motor vehicles, car parking and health insurance and the fringe benefits tax paid or payable on these benefits. Remuneration excludes amounts paid to executives posted outside Australia, or seconded to other organisations for the whole or part of the financial year. Remuneration includes amounts paid to executives who are also members of the Bank Board (refer Note 15).
Termination payments of $0.228 million were made to executives who left the Bank during 2002/03 ($1.055 million in 2001/02); these payments are not reflected in the above table.