Reserve Bank of Australia Annual Report – 1991 Financial Statements Other Liabilities – Provisions
Note 5 Other Liabilities — Provisions (Note 1(f))
Balances and movements are shown below.
|
1989/90 $'000 |
1990/91 $'000 |
|
|---|---|---|
| Provision for Accrued Annual Leave | ||
| 5,166 | Opening balance | 5,166 |
| – | Transfer from earnings | 379 |
| 5,166 | As at 30 June | 5,545 |
| Provision for Long Service Leave | ||
| 21,538 | Opening balance | 20,783 |
| (4,354) | Charges against provision | (2,073) |
| 3,599 | Transfers from earnings | 3,023 |
| 20,783 | As at 30 June | 21,733 |
| Provision for the Effects of Movements in Market Yields | ||
| 460,189 | Opening balance | 583,313 |
| (76,876) | Transfer to Investments Revaluation Reserve (Note 3) | – |
| 200,000 | Transfer from earnings in terms of section 78 of the Reserve Bank Act ( Note 2) | – |
| – | Transfer to Reserve for Contingencies and General Purposes (Note 3) | (583,313) |
| 583,313 | As at 30 June | nil |
| Provision for the Effects of Movements in Exchange Rates | ||
| 1,104,957 | Opening balance | 1,282,643 |
| (122,314) | Transfer to Foreign Currency Revaluation Reserve (Note 3) | – |
| 300,000 | Transfer from earnings in terms of section 78 of the Reserve Bank Act ( Note 2) | – |
| – | Transfer to Reserve for Contingencies and General Purposes (Note 3) | (1,282,643) |
| 1,282,643 | As at 30 June | nil |
| Provision for Building Repairs and Maintenance | ||
| 37,400 | Opening balance | 53,084 |
| (4,316) | Charges against provision | (10,572) |
| 20,000 | Transfer from earnings in terms of section 78 of the Reserve Bank Act ( Note 2) | 25,000 |
| 53,084 | As at 30 June | 67,512 |
At 30 June, contracts relating to major refurbishment of the Bank's buildings to which the Bank is committed totalled $24.1 million.