New Zealand Gazette – 1988 – No. 137

Page 3108

✨ Reserve Bank Financial Statements

NEW ZEALAND GAZETTE

No. 137

Note	1988 $000	1987 $000

Other expenses ...	4(a)	2,094
Total expenditure ...		282,848
Net profit ...		190,333

Profit and Loss Appropriation Account

	1988 $000	1987 $000
Balance at beginning of year		32,588
Balance from profit and loss account		190,333
Total available for appropriation		222,921
Less:
Payments to New Zealand Government in terms of section 40 of the Reserve Bank of New Zealand Act 1964 in respect of:
(a) Previous year's profit		32,588
(b) Current year's profit		135,000
Transfer to general reserve		5,333
Total appropriations		172,921
Balance at end of year		50,000

The above financial statement is to be read in conjunction with the notes on the following pages.

Balance Sheet as at 31 March 1988

Note	1988 $000	1987 $000

Current liabilities—

Denominated in overseas currencies—
| Held overseas ... | 1(a) | 278,936 | 113,352 |
| Held domestically ... | 3(a) | $30,361 | 5,042,896 |
| Deposits—
| Government— | | |
| Public account ... | | 123,440 | 126,235 |
| Other ... | | 406,525 | 804,108 |
| Marketing organisations ... | | 4,352 | 482 |
| Stabilisation accounts ... | | 131,631 | 112,172 |
| Banks ... | | 111,842 | 4,709 |
| Other ... | | 23,316 | 44,194 |
| | | 801,106 | 1,091,901 |
| Notes in circulation ... | 3(b) | 1,036,422 | 1,059,320 |
| Other liabilities—
| Interest accrued ... | | 32,548 |
| Accounts payable ... | | 4,567 |
| Other ... | | 2,714 |
| Total current liabilities | | 2,686,654 | 7,366,962 |

Term liabilities—

Denominated in overseas currencies ... | 1(a) | 102,982 | 321,528 |
International monetary fund ... | | |
Allocation of special drawing rights ... | 1(a) | 300,047 | 321,113 |
Other ... | | 50,271 | 50,321 |

| Investment Fluctuation Account | | 350,318 | 371,434 |
| Reserves—
| Profit and loss appropriation account ... | 3(d) | 50,000 | 32,588 |
| General reserves ... | | 250,448 | 275,115 |
| Properties revaluation reserve ... | 3(a) | 4,966 |
| | | 373,414 | 317,832 |

Total liabilities and reserves | | 3,569,010 | 8,394,397 |

Current Assets—

Denominated in overseas currencies—
| Held overseas ... | 1(a) | 1,252,157 | 5,838,153 |
| Advances—
| Government ... | | 263 |
| Marketing organisations ... | | 4,136 | 4,005 |
| Banks ... | | 1,768 | 3,237 |
| Other ... | | 570 | 599 |
| Other assets—
| Interest accrued ... | | 11,316 | 27,047 |
| Accounts receivable ... | | 13,220 | 11,412 |
| New Zealand coin held ... | | 9,066 | 5,587 |
| Other ... | | 798 |
| Total current assets | 1(b) | 1,288,895 | 5,896,822 |

Investments—

Domestic—
| Government stock ... | | 482,538 | 73,077 |
| Short term ... | | 176,322 | 181,963 |
| Held under sellback arrangements ... | 3(f) | 581,000 | 1,292,400 |
| Treasury bills ... | | 875,764 | 547,301 |
| Transferable certificates of deposit ... | | 996 |
| Commercial bills ... | | 12,777 |
| Local authority stock ... | | 50,000 | — |
| Term loans ... | | — | 9,600 |
| Staff mortgage advances ... | | 22,665 | 17,538 |
| Overseas—
| Denominated in overseas currencies ... | 1(a) | 14,463 | 14,037 |
| Denominated in New Zealand currency ... | | 2,352 | 14,770 |
| Holdings of IMF special drawing rights ... | | 29,824 | 25,832 |
| Gold ... | 3(g) | 31,585 | 32,422 |
| Total investments | 1(c) | 2,189,356 | 2,441,294 |

Fixed assets—

| Land ... | | 32,006 | 4,456 |
| Buildings ... | | 42,434 | 16,329 |
| Plant, equipment, vehicles ... | | 16,329 | 35,644 |
| | | 90,769 | 56,429 |

Total assets | | 3,569,010 | 8,394,397 |

The above financial statement is to be read in conjunction with the notes following.

G. K. FROGGATT, Chief Manager, Corporate Services Department.

S. T. RUSSELL, Governor.

R. L. KNIGHT, Deputy Governor.

Reserve Bank of New Zealand Annual Accounts

Notes:

Statement of Accounting Policies—The accounts have been prepared in accordance with the following accounting policies. These policies have been applied on a basis consistent with last year except as otherwise noted.

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VUW Te Waharoa — NZ Gazette 1988, No 137

NZLII — NZ Gazette 1988, No 137

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✨ LLM interpretation of page content

💰 Reserve Bank Profit and Loss Account (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statement, Profit and Loss, Reserve Bank

💰 Profit and Loss Appropriation Account

Domain💰 Finance & Revenue
KeywordsAppropriation Account, Financial Statement, Reserve Bank

💰 Balance Sheet as at 31 March 1988

Domain💰 Finance & Revenue
KeywordsBalance Sheet, Financial Statement, Reserve Bank

💰 Reserve Bank of New Zealand Annual Accounts

Domain💰 Finance & Revenue
KeywordsAnnual Accounts, Financial Statement, Reserve Bank
👩‍💼 Officials

G. K. Froggatt, Chief Manager, Corporate Services Department
S. T. Russell, Governor
R. L. Knight, Deputy Governor

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