Statement of Income and Expenses

(thousands of dollars)
December 31, 1996December 31, 1995
Earnings:
Interest on Government Securities$ 1,099,849$ 1,040,741
Other Revenue49,30552,869
Total Assets$ 1,149,154$ 1,093,610

Current Expenses:
Current Operating Expenses$ 95,026$ 87,470
Less Reimbursables(9,133)(9,189)
Current Net Operating Expenses85,89378,281
Cost of Earnings Credits12,1016,860
Net Periodic Pension Costs130
Current Net Expenses$ 98,007$ 85,141
Current Net Expenses$ 1,051,147$ 1,008,469

Miscellaneous Additions and Deductions:
Net Additions or Deductions$ (39,723)$ 19,445
Cost of Unreimbursed Treasury Services(2,129)(2,114)
Assessment for Expenses by Board of Governors(4,061)(3,730)
Federal Reserve Currency Costs(18,499)(18,660)
Net Income Available for Distribution$ 986,735$ 1,003,410

Distribution of Net Income:
Dividends Paid to Member Banks$ (6,431)$ (5,344)
Payment to the U.S. Treasury(963,911)(984,871)
Transferred to Surplus16,39313,195
Surplus, January 197,97084,775
Statutory Surplus Transfer to Treasury, October 1(2,618)0
Surplus, December 31$ 111,745$ 97,970
The Balance Sheet and Statement of Income and Expenses are prepared by Bank management. Copies of full financial statements complete with footnotes are available by contacting the Public Affairs Department of the Federal Reserve Bank of St. Lou is, Post Office Box 442, St. Louis, Missouri 63166.

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