Reserve Bank of Australia Annual Report – 1974 Financial Statements Profit and Loss Appropriation Statement

For Year Ended 30 June 1974

  1974 1973
Net profits appropriated as follows:
Rural Credits Department:
Rural Credits Department Reserve Fund 842,768   649,152
Rural Credits Development Fund 842,768 1,685,536 649,152
Total   $1,685,536 $1,298,304
Assets 1974 1973
Gold, and balances held abroad (including money at short call and treasury bills) (see note 1) 2,853,588,450 3,152,048,480
International Monetary Fund special drawing rights 149,942,901 199,877,225
Other overseas securities (see note 1) 407,264,402 752,448,558
Australian notes and coin 8,158,626 9,697,135
Australian Government securities (including treasury bills) 1,396,597,108 608,411,695
Cheques and bills of other banks 16,878,228 9,360,766
Loans, advances and bills discounted (after deducting provisions for debts considered bad or doubtful) (see note 2) 603,102,550 252,525,990
Bank premises (at cost less amounts written off) 51,856,403 51,560,406
Bills receivable and remittances in transit 156,004,417 127,619,438
All other assets (including unfunded adjustments arising from fluctuations in exchange rates) 851,073,289 583,290,048
Total $6,494,466,374 $5,746,839,741
  1974 1973
Net profits (after deducting amounts written off bank premises and amounts provided for contingencies):    
Central Banking Business (see note 3) NIL NIL
Note Issue Department (see note 3) NIL NIL
Rural Credits Department 1,685,536 1,298,304
Total $1,685,536 $1,298,304

J. G. Phillips, Chairman, Reserve Bank Board — 1 August 1974

Notes:

  1. Includes accrued interest. Marketable securities included at current market values.
  2. Inter-departmental accounts totalling $1,066,058,167 have been offset — ($981,676,383 — 30/6/73).
  3. After deducting amounts written off Bank premises the whole of the net earnings from Central Banking Business and Note Issue Department were transferred to reserves for contingencies.