ECCB 2014-2015 Annual Report and Statement of Accounts

EASTERN CARIBBEAN CENTRAL BANK

Eastern Caribbean Central Bank Notes to Consolidated Financial Statements March 31, 2015 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (expressed in Eastern Caribbean dollars) March 31, 2015 (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, 2015: Land $ Buildings $ Total $ Cost 7,544,960 73,457,178 81,002,138 Accumulated depreciation – (34,187,787) (34,187,787) Net book value 7,544,960 39,269,391 46,814,351 The following is the historical cost carrying amount of land and buildings carried at revalued amounts as of March 31, 2014: Land $ Buildings $ Total $ Cost 7,544,960 73,457,178 81,002,138 Accumulated depreciation – (31,353,589) (31,353,589) Net book value 7,544,960 42,103,589 49,648,549 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. Property, plant and equipment continued f ll i is t ist ri l st rr i t f l il i s rri t re al ts s , : 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 la d and buildings categories as of March 31, 2015 resulted in a revaluation surplus of $11,598,841 which was credited to revaluation reserves. 15.

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ECCB ANNUAL REPORT 2014/2015