Annual Report 2004

Financial Statements
7 Staff costs
Salaries, severance payments and the
employerÕs social security contributions
and other statutory or contractual
social charges fall under the
heading staff costs. These costs were
reduced by recoveries of salaries and
employeesÕ pension contributions.
As of January 1, 1997, the pension
contributions of employees who
had joined the OeNB after March
31, 1993, and who qualify for an
OeNB pension were raised from 5%
of their total basic pay to 10.25% of
their basic salaries up to the earnings
cap on social security. A rate of 2%
applies to income above the earnings
cap.
Salaries net of pension contributions
collected from staff members
grew by EUR 1.002 million or
1.2% to EUR 83.819 million. This
increase is attributable primarily to
the salary increase negotiated for
the banking sector. The OeNBÕs outlays
were reduced by recoveries of
salaries totaling EUR 8.675 million
for staff members on secondment to
subsidiaries and foreign institutions.
Adjusted for employees on secondment
or leave such as maternity
and parental leave, the average number
of staff employed in the OeNBÕs
core business areas (expressed in
full-time equivalents, FTEs) came to
957.3 (2003: 952.2). The overall
average number of OeNB staff members
(in FTEs) declined from 1,179.3
in 2003 to 1,161.8 on average in
2004, a decline by 17.5 FTEs or
1.5%.
The four members of the Governing
Board received emoluments 11 including
remuneration in kind (private
use of company cars, subsidies to insurance)
totaling EUR 1.030 million
(2003: EUR 0.957 million). The
emoluments of Governor Liebscher
came to EUR 0.274 million, of
Vice Governor Duchatczek to EUR
0.260 million, of Executive Director
Zo‹llner to EUR 0.253 million and of
Executive Director Christl to EUR
0.243 million.
The emoluments of President and
Vice President amounted to EUR
0.106 million, and EUR 0.035 million
represented back pay for 2003
(2003: EUR 0.031 million).
Statutory or contractual social
charges totaling EUR 12.778 million
(+EUR 0.380 million) contain municipal
tax payments of EUR 2.535
million, social security contributions
of EUR 6.375 million and contributions
of EUR 3.782 million to the
Family Burden Equalization Fund.
10 Banknote production
services
Expenses for banknote production
services resulted from the purchase
of euro banknotes from the OeBS.
12 Corporate income tax
A corporate income tax rate of 34%
was applied to the taxable income according
to Article 72 of the Nationalbank
Act and in line with Article 22
paragraph 1 of the Corporate Income
Tax Act.
13 Central governmentÕs
share of profit
Under Article 69 paragraph 3 of the
Nationalbank Act, the central governmentÕs
share of profit is 90% of the
net income for the year after tax, as
in the previous years, and amounts
to EUR 267.786 million (2003:
EUR 423.271 million).
11 Limits apply under the Federal Constitutional Law Limiting the Emoluments of Public Officials.
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Annual Report 2004