Reserve Bank of Australia Annual Report – 2016 Financial Statements Note 8 – Property, Plant and Equipment

  Land and Buildings
$M
Plant and Equipment
$M
Total
$M
Gross Book Value as at 30 June 2015 383 207 590
Accumulated depreciation (1) (40) (41)
Net Book Value 382 167 549
Additions 46 46 92
Depreciation expense (9) (25) (34)
Net gain/(loss) recognised in Net Profit 1 1
Net gain/(loss) recognised in Other Comprehensive Income 33 33
Disposals (1) (1)
Net additions to net book value 71 20 91
Gross Book Value as at 30 June 2016 453 250 703
Accumulated depreciation (63) (63)
Net Book Value 453 187 640

The net book value of the RBA's property, plant and equipment includes $83.4 million of work in progress ($39.7 million at 30 June 2015).

As at 30 June 2016, the RBA had contractual commitments of $65.7 million for the acquisition or development of property, plant and equipment ($81.2 million at 30 June 2015); contractual commitments of $46.9 million are due within one year ($59.6 million at 30 June 2015). Included within these contractual commitments is an amount of $26.5 million which relates to the construction of the new National Banknote Site in Craigieburn ($55.0 million at 30 June 2015), which is due within one year.