Reserve Bank of Australia Annual Report – 1994 Financial Statements Cash Flow Statement
Note 16 Cash Flow Statement
The following cash flow statement appears as a matter of record to meet the requirements of AAS 28; in the Bank's view it does not shed any additional light on the Bank's financial results.
For the purpose of the statement of cash flows, cash includes the notes and coin held at the Reserve Bank and overnight settlements systems account balances with other banks. Minor revisions to 1992/93 data reflect the netting of interest on overnight settlements systems accounts (see Note 2).
| 1992/93 lnflow/(outflow) $'000 |
1993/94 lnflow/(outflow) $'000 |
||
|---|---|---|---|
| Cash flow from operating activities | |||
| 1,993,005 | Interest received on investments | 2,055,546 | |
| 8,488 | Interest received on loans, advances, etc. and on net overnight settlements systems | 7,882 | |
| 3,852 | Loan management reimbursement | 3,334 | |
| 6,869 | Banking service fees received from Commonwealth | 5,764 | |
| 4,886 | Rents received | 4,520 | |
| (923,891) | Net payments for and proceeds from sale of investments | 284,209 | |
| (192,570) | Interest paid on deposit liabilities | (318,403) | |
| (112,650) | Staff costs | (119,908) | |
| (10,218) | IMF Maintenance of Value adjustment | (22,958) | |
| (35,873) | Premises, equipment and stores | (33,637) | |
| 9,478 | Other | 11,947 | |
| 751,376 | Net cash provided by operating activities | 1,878,296 | |
| Cash flows from investment activities | |||
| (30,939) | Net expenditure on premises and durable assets | (35,761) | |
| (30,939) | Net cash used in investing activities | (35,761) | |
| Cash flows from financing activities | |||
| (2,554,108) | Profit payment to Commonwealth | (3,213,151) | |
| (276,389) | Net movement in clearing items | 333,420 | |
| 653,385 | Net movement in deposit liabilities | (296,064) | |
| (99,127) | Net movement in Special Reserve – IMF SDRs | (34,920) | |
| (4,290) | Net movement in loans and advances | (1,582) | |
| 1,187,582 | Net movement in notes on issue | 1,230,019 | |
| (60,001) | Other | (6,072) | |
| (1,152,948) | Net cash provided by financing activities | (1,988,350) | |
| (432,511) | Net increase (decrease) in cash | (145,815) | |
| (67,716) | Cash at beginning of financial year | (500,227) | |
| (500,227) | Cash at end of financial year | (646,042) | |
| Reconciliation of Cash |
30 June 1992 $'000 |
30 June 1993 $'000 |
30 June 1994 $'000 |
|---|---|---|---|
| Cash | 101,376 | 107,813 | 64,358 |
| Overnight settlements system | (169,092) | (608,040) | (710,400) |
| (67,716) | (500,227) | (646,042) |
| Reconciliation of net cash provided by operating activities to net profit in terms of the Reserve Bank Act |
1992/93 $'000 |
1993/94 $'000 |
|---|---|---|
| Net Profit in terms of Reserve Bank Act | 3,913,151 | 1,508,310 |
| S78 transfers to reserves | 650,000 | – |
| Increase in interest payable | (1,915) | 10,305 |
| Increase in interest receivable | 640 | 248 |
| Gain on sale of foreign currency | (1,984,766) | (656,923) |
| Gain on sale of investments | (817,638) | 28,549 |
| Unrealised loss on investments | – | 676,457 |
| Increase in income accrued on investments | (110,704) | 52,956 |
| Amounts written off Bank premises | 5,896 | 6,083 |
| Depreciation of durable assets | 10,836 | 10,128 |
| IMF Maintenance of Value adjustment (including accrual to end June) | 5,595 | (30,227) |
| Increase in accrued expenses | 665 | 836 |
| Net payments for and proceeds from sale of domestic and foreign investments | (923,891) | 284,209 |
| Other | 3,507 | (12,635) |
| Net cash provided by operating activities | 751,376 | 1,878,296 |
B.W. FRASER
Chairman, Reserve Bank Board – 2 August 1994