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ECCB ANNUAL REPORT 2016/2017
EASTERN CARIBBEAN CENTRAL BANK
NOTES TO THE FINANCIAL STATEMENTS
(expressed in Eastern Caribbean dollars)
March 31, 2017
Eastern Caribbean Central Bank
Notes to the Financial Statements
March 31, 2017
(expressed in Eastern Caribbean dollars)
15. Property, plant and equipment
…
continued
The following is the historical cost carrying amount of land and buildings carried at revalued amounts as
of March 31, 2017:
Land
$
Buildings
$
Total
$
Cost
7,544,960
73,470,569
81,015,529
Accumulated depreciation
-
(34,187,427)
(34,187,427)
Net book value
7,544,960
39,283,142
46,828,102
The following is the historical cost carrying amount of land and buildings carried at revalued amounts as
of March 31, 2016:
Land
$
Buildings
$
Total
$
Cost
7,544,960
73,470,569
81,015,529
Accumulated depreciation
-
(37,382,687)
(37,382,687)
Net book value
7,544,960
36,087,882
43,632,842
The land and buildings were revalued by independent valuators, DLG Consultants Limited in March of
2015. Valuations are based on the market value. The revaluation of the land and buildings categories as
of March 31, 2015 resulted in a revaluation surplus of $11,598,841 which was credited to revaluation
reserves.