Reserve Bank of Australia Annual Report – 1970 Financial Statements Profit and Loss Appropriation Statement
For Year Ended 30 June 1970
| 1970 | 1969 | ||
|---|---|---|---|
| Net profits appropriated as follows: | |||
| Central Banking Business: | |||
| Reserve Bank Reserve Fund | 3,649,000 | 2,896,000 | |
| Commonwealth of Australia | 5,225,077 | 8,874,077 | 2,768,320 |
| Note Issue Department: | |||
| Commonwealth of Australia | 36,342,930 | 23,786,243 | |
| Rural Credits Department: | |||
| Rural Credits Department Reserve Fund | 928,029 | 812,909 | |
| Rural Credits Development Fund | 928,029 | 1,856,058 | 812,909 |
| Total | $47,073,065 | $31,076,381 | |
| 1970 | 1969 | |
|---|---|---|
| Net profits (after deducting amounts written off bank premises and amounts provided for contingencies): | ||
| Central Banking Business | 8,874,077 | 5,664,320 |
| Note Issue Department | 36,342,930 | 23,786,243 |
| Rural Credits Department | 1,856,058 | 1,625,818 |
| Total | $47,073,065 | $31,076,381 |
J.G. PHILLIPS, Chairman, Reserve Bank Board—4 August 1970
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 30 June 1970 and the state of affairs as at that date.
V.J.W. SKERMER, Auditor General for the Commonwealth—6 August 1970