Reserve Bank of Australia Annual Report – 2005 Financial Statements Note 13

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 2005		Number 2004
$100,000 – $109,999	1		1
$110,000 – $119,999	1		2
$120,000 – $129,999	3		6
$130,000 – $139,999	5		7
$140,000 – $149,999	12		7
$150,000 – $159,999	6		8
$160,000 – $169,999	11		6
$170,000 – $179,999	5		9
$180,000 – $189,999	6		6
$190,000 – $199,999	6		2
$200,000 – $209,999	2		3
$210,000 – $219,999	2		2
$220,000 – $229,999	2		4
$230,000 – $239,999	3		1
$240,000 – $249,999	3		2
$250,000 – $259,999	2
$260,000 – $269,999	1		1
$280,000 – $289,999	1		1
$290,000 – $299,999			3
$300,000 – $309,999	5
$310,000 – $319,999			2
$320,000 – $329,999			1
$350,000 – $359,999			1
$360,000 – $369,999	2		2
$370,000 – $379,999	1
$380,000 – $389,999	2
$420,000 – $429,999			1
$430,000 – $439,999	1
$550,000 – $559,999			1
$570,000 – $579,999	1

Total remuneration received or due and receivable by these 84 executives amounted to $17,147,300 (79 executives totalling $15,506,945 in 2003/04). 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 $1,176,670 were made to executives who left the Bank during 2004/05 ($375,568 in 2003/04); these payments are not reflected in the above table.