SCHOOL SAVINGS BANK
Annual Audit Of Passbooks
About 10.000 School Savings Bank passbooks from 140 North Canterbury schools are in the Post Office Savings Bank branch in Hereford street for their annual audit and entry of interest. These are about half the passbooks in the district. The others will be dealt with in August. “This represents a lot of work, but the school banking system is well worth while as it instils into the children the value of thrift." the bank manager (Mr R. C. Burr) s>aid yesterday. Tlie audit involves having each book checked with the bank’s ledgers. Where the records do not agree, a hunt through piles of deposit slips is made to track down the error. The bank has five of its staff working full-time and others part-time to get the books back to the schools ready’ for the children next week. In 1960, there were about 180.000 transactions on the school accounts in the district, and on December 31 the balances in the accounts totalled about £llO,OOO. Nearly £3OOO was credited as interest on that date.
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https://paperspast.natlib.govt.nz/newspapers/CHP19610516.2.78
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Press, Volume C, Issue 29514, 16 May 1961, Page 8
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180SCHOOL SAVINGS BANK Press, Volume C, Issue 29514, 16 May 1961, Page 8
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