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