Note 10 – Other Liabilities | Financial Statements | Reserve Bank of Australia Annual Report – 2012

Reserve Bank of Australia Annual Report – 2012 Financial Statements Note 10 – Other Liabilities

	Note	2012 $M	2011 $M
Provisions	1(g)
Provision for accrued annual leave		16	15
Provision for long service leave		37	31
Provision for post-employment benefits		117	83
Provision for workers' compensation		–	–
		170	129
Other
Amounts outstanding under repurchase agreements (contract price)	1(b)	1,535	1,666
Interest accrued on deposits		12	37
Other		898	579
		2,445	2,282
Total Other Liabilities as at 30 June		2,615	2,411

The provision for workers' compensation at 30 June 2012 was $340,000 ($323,000 at 30 June 2011).

During 2011/12, annual leave of $9.6 million was accrued by staff, while $8.9 million of accrued leave was used. Staff accrued and used long service leave of $4.9 million and $3.1 million, respectively, in 2011/12.

The RBA provided an additional $34.0 million for post-employment benefits in 2011/12; a decrease in the discount rate increased the provision by $41.3 million, while benefits of $4.5 million were paid out of the provision. The balance of the provision for post-employment benefits will change if assumptions regarding the length of staff service, the longevity of retired staff, future movements in medical costs or the discount rate vary.

At 30 June 2012, $7.3 million of the provision for accrued annual leave was due within 12 months ($6.8 million at 30 June 2011); $3.6 million of the provision for long service leave was due within 12 months ($3.0 million at 30 June 2011); and $3.9 million of the provision for post-employment benefits was due within 12 months ($2.7 million at 30 June 2011).