Reserve Bank of Australia Annual Report – 2006 Financial Statements Note 8

Note 8 PROPERTY, PLANT AND EQUIPMENT

Land $M Buildings $M Plant and
Equipment $M
Total $M
Gross Book Value as at 30 June 2005   101   140   105     346
Accumulated depreciation       (39)     (39)
Net Book Value   101   140   66     307
Additions     17   14     31
Depreciation expense     (7)   (15)     (22)
Net revaluation increment/(decrement)   8   5       13
Disposals          
Net additions to net book value   8   15   (1)     22
Gross Book Value as at 30 June 2006   109   155   83     347
Accumulated depreciation       (18)     (18)
Net Book Value   109   155   65     329

The net book value of buildings as at 30 June 2006 includes expenditure of $13.4 million on work in progress which has been capitalised in the carrying amount of these assets ($2.2 million as at 30 June 2005). Additions include expenditure of $18.0 million on work in progress that was capitalised during 2005/06 ($2.6 million in 2004/05). As at 30 June 2006, the RBA had contractual commitments of $27.0 million to acquire buildings, plant and equipment ($0.5 million at 30 June 2005).