LONDON, ENGLAND - JULY 25: (NO PUBLICATION IN UK MEDIA FOR 28 DAYS) Table laid with the silver-gilt Grand Service and arranged for a State Banquet, part of the Summer Opening exhibition at Buckingham Palace, on July 25, 2008 in London, England. (Photo by POOL/ Tim Graham Picture Library/Getty Images)
LONDON, UNITED KINGDOM - MARCH 13: Prince Charles Holding An Investiture At Buckingham Palace (Photo by Tim Graham/Getty Images)
The Ballroom of Buckingham Palace set up for a State Banquet is pictured in London, on July 25, 2008. For the first time ever, visitors to Buckingham Palace will experience the spectacle of the Ballroom set up for a State Banquet. Held in honour of a visiting Head of State, the State Banquet is the occasion when The Queen entertains around 170 guests on the first evening of a State Visit. The Summer Opening of Buckingham Palace will run from July 29 to September 29, 2008. AFP PHOTO/Shaun Curry (Photo credit should read SHAUN CURRY/AFP/Getty Images)
US President George W. Bush (R) walks through the Queen's Gallery at Buckingham Palace with Britain Queen Elizabeth II 19 November 2003 during his state visit. (Photo credit should read JIM WATSON/AFP/Getty Images)
1942: King George VI (1895 - 1952) and Queen Elizabeth (1900 - 2002) entertain themselves during a quiet moment at Buckingham Palace, London. (Photo by Hulton Archive/Getty Images)
LONDON, OCTOBER - OCTOBER 12: (EMBARGOED TO 0001 TUESDAY OCTOBER 13) Dance group Nutkhut rehearse 'Bollywood Steps' inside the ballroom at Buckingham Palace ahead of the Indian Reception, October 12, 2009 in London, England.(Photo Katie Collins - WPA Pool/Getty Images)
LONDON, ENGLAND - JUNE 14: People gather in the Mall to watch a fly past over Buckingham Palace as part of Her Majesty The Queen's Birthday Flypast during Trooping the Colour on June 14, 2014 in London, England. (Photo by Matt Cardy/Getty Images)
A woman talks on her phone as her child plays in the grounds of Kensington Palace, where Prince William, his wife Kate, and their newborn son will live, in London, Wednesday, July 24, 2013. Britain's new prince has been named George Alexander Louis, royal officials said Wednesday, ending speculation over what the couple would pick for their first child. (AP Photo/Lefteris Pitarakis)
A view through the gates at Kensington Palace in London, Monday, June 6, 2011. The Duke and Duchess of Cambridge will use a small refurbished apartment at Kensington Palace as their official London home for the next year or so. The move is considered a temporary measure as their primary house will remain in Anglesey, Wales, where William serves as a Royal Air Force search-and-rescue helicopter pilot. That is expected to be their main residence until 2013. (AP Photo/Kirsty Wigglesworth)
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LONDON (AP) - Buckingham Palace says the monarchy cost British taxpayers 35.7 million pounds ($60.8 million) last year - 56 pence (just under $1) for everyone in the country.
More than a third of the money was spent on repairs and maintenance to aging palaces.
Some 3.4 million pounds was spent in the year to March 31 refurbishing part of London's Kensington Palace into a home for Prince William, his wife Catherine and their toddler son Prince George.
The work included removing asbestos, installing new heating and "simple redecoration." William and Kate paid for carpets, curtains and furnishings themselves.
As the accounts were published Thursday, Keeper of the Privy Purse Alan Reid said the royal household was keen to "maximize the value for money" of the monarchy.