Reserve Bank of Australia Annual Report – 1962 Financial Statements Profit and Loss Appropriation Statement

For year ended 30th June, 1962

    1962 1961
Net profits appropriated as follows:
Central Banking Business:
Reserve Bank Reserve Fund 2,186,463   3,352,394
Commonwealth of Australia 4,486,463   3,352,394
Note Issue Department:
Commonwealth of Australia   15,750,824 12,930,386
Rural Credits Department:
Rural Credits Department Reserve Fund 234,725   217,067
Rural Credits Development Fund 234,724   217,067
  Total £22,893,199 £20,069,308
  1962 1961
Net profits (after deducting amounts written off bank premises and amounts provided for contingencies):    
Central Banking Business 6,672,926 6,704,788
Note Issue Department 15,750,824 12,930,386
Rural Credits Department 469,449 434,134
Total £22,893,199 £20,069,308

H.C. COOMBS, Chairman, Reserve Bank Board—15th August, 1962

Auditor-General's Report

The above Balance-sheet and Profit and Loss Appropriation Statement have been examined and are in agreement with the accounts and records as shown in the books of the Head Office and the certified returns from Branches and Agencies. In my opinion the statements show fairly the financial operations of the Bank during the year ended 30th June, 1962, and the state of affairs as at that date.

V.J.W. SKERMER, Auditor-General for the Commonwealth—17th August, 1962