Reserve Bank of Australia Annual Report – 1996 Financial Statements Bank Premises and Other Durable Assets

Note 6 Bank Premises and Other Durable Assets (Note 1(d))

1994/95
$'000
  1995/96
$'000
  Premises
261,045 Opening balance 234,652
33,043 Net expenditure in year 4,724
294,088   239,376
(6,902) Accumulated depreciation prior to revaluation (6,872)
287,186 Book valuation prior to revaluation 232,504
(52,534) Net revaluation adjustments (Note 3) 165
234,652 As at 30 June 232,669
As recorded in Note 1(d), the last triennial revaluation of Bank premises occurred in 1994/95; those valuations were updated as at 30 June 1996. Amounts written off Bank premises in terms of section 78 of the Reserve Bank Act (ie depreciation) totalled $6.872 million ($6.902 million in 1994/95).
  Other durable assets
85,594 Opening balance 90,604
5,044 Net expenditure in year 4,747
(34) Fully depreciated and disposed of (1)
90,604   95,350
(63,960) Accumulated depreciation (69,320)
26,644 As at 30 June 26,030