Reserve Bank of Australia Annual Report – 2009 Financial Statements Note 8

Note 8 PROPERTY, PLANT AND EQUIPMENT

Land $M Buildings $M Plant and
Equipment $M
Total $M
Gross Book Value as at 30 June 2008   132   246   85     463
Accumulated depreciation   –   –   (7)     (7)
Net Book Value   132   246   78     456
Additions   –   3   32     35
Depreciation expense   –   (9)   (14)     (23)
Net revaluation increment/(decrement)   (11)   (12)   –     (23)
Disposals   –   –   (2)     (2)
Net additions to net book value   (11)   (18)   16     (13)
Gross Book Value as at 30 June 2009   121   229   114     464
Accumulated depreciation   –   (1)   (20)     (21)
Net Book Value   121   228   94     443

The net book value of buildings as at 30 June 2009 includes expenditure of $1.6 million on work in progress which has been capitalised in the carrying amount of these assets ($1.2 million as at 30 June 2008). Additions include expenditure of $19.2 million on work in progress that was capitalised during 2008/09 ($8.2 million in 2007/08). As at 30 June 2009, the RBA had contractual commitments of $30.3 million to acquire buildings, plant and equipment ($4.0 million at 30 June 2008).