Reserve Bank of Australia Annual Report – 2017 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 2016 | 453 | 250 | 703 |
| Accumulated depreciation | – | (63) | (63) |
| Net Book Value | 453 | 187 | 640 |
| Additions | 37 | 35 | 72 |
| Depreciation expense | (11) | (30) | (41) |
| Net gain/(loss) recognised in Net Profit | – | – | – |
| Net gain/(loss) recognised in Other Comprehensive Income | 72 | – | 72 |
| Disposals | – | (2) | (2) |
| Net additions to net book value | 98 | 3 | 101 |
| Gross Book Value as at 30 June 2017 | 552 | 296 | 848 |
| Accumulated depreciation | (1) | (106) | (107) |
| Net Book Value | 551 | 190 | 741 |
The net book value of the RBA's property, plant and equipment includes $29.0 million of work in progress ($83.4 million at 30 June 2016). The change in accounting policy for the measurement of the RBA's plant and equipment from fair value to cost (refer to Note 1(e)) resulted in a net reduction of $0.4 million in the net book value of plant and equipment at 30 June 2017.
As at 30 June 2017, the RBA had contractual commitments of $10.4 million for the acquisition or development of property, plant and equipment ($65.7 million at 30 June 2016), all of which are due within one year ($46.9 million at 30 June 2016).