BANK INDONESIA
Notes to Financial Statements As at December 31, 2008
43
32. Open Market Operations Expenses
Open Market Operations Expenses consists of:
2008 2007
IDR million IDR
million - Research for Base Money
5,337 8,510
- Policy Development, Endorsement and Execution for Base Money 26
2,213 - Operational Execution for Base Money
8,533 5,225
- Policy Execution for Base Money 20,823,399
24,447,281 20,837,295
24,463,229
Open market operations expenses is Bank Indonesia’s largest expense, amounted to IDR20,837,295 million 74.20 of total expenses in 2008 and amounted to
IDR24,463,229 million 80.32 of total expenses in 2007.
Included in Policy Execution Expenses are SBI and FASBI Discount amounted to IDR19,931,010 million, SWBI Bonus expenses amounted to IDR60,044 million, SBIS
Bonus expenses amounted to IDR87,330 million, compensation for bank demand deposits amounted to IDR744,950 million, and other activities supporting policy
execution amounted to IDR65 million.
33. Foreign Reserves Management Expenses
Foreign reserves management expenses consisted of:
2008 2007
IDR million IDR million
- Research for Foreign Reserves Management 112
236 - Policy Development, Endorsement and Execution for Foreign
Reserves Management 5,115
4,887 - Operational Execution for Foreign Reserves Management
31,086 20,501
36,313 25,624
34. Foreign Loan Management Expenses
Foreign loan management expenses for the year 2008 and 2007 were IDR260,808 million and IDR368,070 million respectively.
35. Payment System Operations Expenses
Included in the payment system services expenses amounted to IDR1,650,612 million for the year 2008 and IDR1,646,299 million for the year 2007, is currency procurement
expenses and currency printing expenses amounted to IDR485,909 million and IDR1,035,460 million. Currency printing expenses are based on temporary Currency
Printing Price Harga Cetak Uang – HCU.
BANK INDONESIA
Notes to Financial Statements As at December 31, 2008
44
36. General and Other Expenses
General and Other Expenses for the year 2008 and 2007 consisted of:
2008 2007
IDR million IDR million
Human Resources 3,235,905
2,726,172 Logistics and Security Management
740,973 735,298
Information Technology System 128,168
80,109 Others:
- Internal Finance 60,180
13,378 - Internal Control
5,026 6,252
- Legislature and Law 44,025
14,388 - Administration, Archive and Expedition
19,035 17,254
Withdrawal from accounts that have been inactive for more than 2 years and have been recognized as
income 33,471
Addition of Allowance for Bad Debts 767,152
5,000,464 3,626,322
According to Act of the Republic of Indonesia Number 23 of 1999 concerning Bank Indonesia as amended by Act of the Republic of Indonesia Number 3 of 2004, salary,
other income and facilities of the Governor, Senior Deputy Governor and Deputy Governor shall be prescribed by the Board of Governors. The amount of such salary and
other income of the Governor shall be determined at the maximum of 2 two times the salary and other income of an employee of the highest rank in Bank Indonesia.
Included in the General and Other expenses were salaries, incentives, holiday bonus tunjangan hari raya, and compensation on annual leaves uang penggantian cuti
tahunan for the Board of Governors amounted to IDR15,872 million and IDR17,143 million for the year 2008 and 2007, respectively. The Board of Governors also receives
other income in the form of grand leaves cuti besar, post retirement benefits, benefit payable to members of the Board of Governors due to expiration of terms of office, long
service awards, benefit payable upon termination at normal retirement age, benefit payable upon termination due to the death of employee or hisher spouse or hisher
children bantuan uang duka, and other facilities inluding housing, transportation, medicalhealth, telecommunication, insurance, credit card and memberships.
Included in the Organization and Human Resource Management expenses were employee benefit expenses amounted to IDR830,123 million for the year 2008 see
Notes C.24 – Other Liabilities.