Reserve Bank of Australia Annual Report – 1983 Financial Statements Other Liabilities

Note 10 Other liabilities

A provision for accrued annual leave has been recognised separately in the Bank's financial statements for the first time this year. The total amount assessed as at end June 1982 was transferred from Reserves for contingencies and general purposes of each of:

– Central Banking Business $2.556m
– Note Issue Department 1.066m
– Rural Credits Department .104m

The change in the assessed liability each year will be debited/credited to the profit and loss account of each statutory section. In 1982/83, the debits were $0.174 million (CBB), $0.067 million (NID) and no change in RCD. The provision for long service leave has now also been allocated to the separate sections. Comparative figures are shown below:

  Provision as at 30 June
  1982 1983
– Central Banking Business $12.670m $13.970m
– Note Issue Department 5.570m 6.098m
– Rural Credits Department .491m .501m
  $18.731m $20.569m