Reserve Bank of Australia Annual Report – 2014 Financial Statements Note 10 – Other Liabilities
| Note | 2014 $M | 2013 $M | |
|---|---|---|---|
| Provisions | 1(h) | ||
| Provision for accrued annual leave | 17 | 17 | |
| Provision for long service leave | 40 | 40 | |
| Provision for post-employment benefits | 101 | 96 | |
| 158 | 153 | ||
| Other | |||
| Securities sold under agreements to repurchase | 1(b) | 5,244 | 2,379 |
| Payable for unsettled purchases of securities | 1,693 | 2,484 | |
| Interest accrued on deposits | 65 | 17 | |
| Superannuation liability | 1(i), 14 | 197 | 321 |
| Other | 231 | 325 | |
| 7,430 | 5,526 | ||
| Total Other Liabilities as at 30 June | 7,588 | 5,679 | |
The provision for workers compensation at 30 June 2014 was $237,000 ($290,000 at 30 June 2013).
During 2013/14, annual leave of $11.3 million was accrued by staff, while $11.0 million of accrued leave was used. Staff accrued and used long service leave of $5.3 million and $3.8 million respectively in 2013/14.
The RBA provided an additional $4.4 million for its post-retirement benefits in 2013/14, partially due to a decrease in the discount rate. Benefits of $4.1 million were paid out of the provision for post-employment benefits in 2013/14. The balance of the provision for post-employment benefits will change if assumptions about the length of staff service, the longevity of retired staff, future movements in medical costs or the discount rate vary.
At 30 June 2014, $11.4 million of the provision for accrued annual leave was due within 12 months ($9.3 million at 30 June 2013); $4.2 million of the provision for long service leave was due within 12 months ($3.5 million at 30 June 2013); and $4.5 million of the provision for post-employment benefits was due within 12 months ($4.4 million at 30 June 2013).