PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1934.

Appendix to the Journals of the House of Representatives, 1934 Session I, B-09a

B.—9a.

1934. NEW ZEALAND.

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1934.

Laid before the General Assembly in pursuance of Section 27 of the Public Trust Office Amendment Act, 1921-22.

The Controller and Auditor-General to the Right Hon. the Minister of Finance. Sir, — The Audit Office, Wellington, sth September, 1934. I have the honour, in accordance with the provisions of section 27 of the Public Trust Office Amendment Act, 1921-22, to transmit to you the balance-sheet of the Public Trust Office for the year ended on 31st March, 1934, and to advise you that it has been examined and found correct. I have, &c., G. F. C. Campbell, Controller and Auditor-General. The Right Hon. the Minister of Finance, Wellington.

B.—9A

PUBLIC TRUST OFFICE. Balance-sheet of the Public Trust Office as at 31st March, 1934. Liabilities. Assets. £ s. d. £ 8. d. £ s. d. Amounts held in Common Freehold and leasehold premises and sites .. 430,937 3 3 Fund for sundry estates Furniture and plant, &c. .. .. .. 41,188 7 0 and funds .. .. 25,557,891 19 0 Stationery and stores, &c. .. .. .. 5,089 19 3 Amounts held for special Stocks, bonds, and debeninvestment on behalf of tures (book value) — £ s. d. certain funds, but not yet Government securities .. 2,923,685 0 0 invested .. .. 82,895 17 3 Less reserve for premAmounts specially invested iums received on conon behalf of certain version, &c. . . 12,096 6 9 estates and funds .. 11,515,095 19 8 — — 37,155,883 15 11 2,911,588 13 3 Sundry creditors, including Rural Intermediate Credit accounts passed for pay- Board debentures .. 64,850 0 0 ment, but not yet paid .. .. 148,397 7 1 Land Settlement Finance Reserve in respect of ex- Act debentures .. 4,000 0 0 enemy-property moneys 17,473 19 11 Local bodies' debentures, Special reserve for securities 46,045 15 6 £7,895,630 18s. 9d. ; General Legal Expenses less reserve for premAccount .. .. 11,647 12 4 iums received on conInvestment Fluctuation version, £819 Bs. 7d. .. 7,894,811 10 2 Account .. .. 88,075 7 11 — 10,875,250 3 5 163,242 15 8 Mortgages, &c. (book value) 13,290,413 1 9 Assurance and Reserve Fund .. .. 413,715 16 1 Less reserve .. .. 59,408 19 10 Profit and Loss Appropriation Account .. 658 18 6 13,231,004 1 11 Advances for protection of securities acquired or in possession, &c. .. .. 46,045 15 6 Properties acquired (book value) .. .. 201,721 19 1 Less reserve .. .. 15,854 611 185,867 12 2 Advances,(on overdraft) to estates and accounts (book value) .. 669,649 9 11 Less reserve . . . . 846 18 1 668,801! 11 10 Interest and rent accrued, due, and overdue— Interest accrued up to 31st March, 1934, but not yet due, and interest overdue .. .. 814,494 13 9 Rent due or accrued . . 361 12 1 814,856 5 10 Less reserve . . 159,694 5 4 _ 655,162 0 6 Sundry debtors .. .. .. .. 31,456 15 0 Cash in hand and on current account in New Zealand and London .. .. .. 161,615 12 0 Investments of reserve for mortgages : Mortgages, &c. . . .. .. .. 34,382 11 9 Special investments (book value) held on behalf of certain estates and funds— £ s. d. Government securities .. 2,865,663 6 11 Rural Intermediate Credit Board debentures .. 29,000 0 0 Rural Advances bonds .. 2,165,032 15 0 Local bodies'debentures 1,325,846 19 3 Private debentures and shares .. .. 20,789 0 4 Realty .. .. 600 0 0 Mortgages .. .. 4,922,943 10 11 Mortgage securities acquired .. .. 40,708 7 4 ! Loans .. .. 41114 11 Savings-banks accounts . . 1,308 5 2 Overdue interest on special investments .. .. 142,791 19 10 — 11,515,095 19 8 £37,881,898 13 3 £37,881,898 13 3 W. M. Barr, Deputy of the Public Trustee. F. Menneer, Chief Accountant. I hereby certify that the balance-sheet and accompanying accounts have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—G. F. C. Campbell, Controller and Auditor-General.

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B.—9a

PUBLIC TRUST OFFlCE—continued. Profit and Loss Account for the Year ended 31st March, 1934. £ s. d. £ s. d. To Salaries .. .. .. .. .. 197,326 4 0 By Commission and other income .. .. 300,041 14 7 Consolidated Fund : Payment in terms of section 5 of Finance Act, 1931 (No. 2), in respect of reduction in salaries effected by Finance Act, 1931 (No. 1) .. .. .. 23,120 16 0 Overtime .. .. .. .. 75 1 3 Service charges— £ s. d. Agents' commission .. 3,353 0 8 Services of High Commissioner 1,070 0 0 Services of General Post Office 828 3 0 5,25.1 3 8 Audit of books and accounts .. .. 850 0 0 Maintenance of premises and plant: Repairs, insurances, &e. . . .. . . .. 6,939 7 5 Rent .. .. .. . . .. 1,773 18 6 General charges— £ s. d. Advertising .. . . 650 7 1 Cleaning, lighting, heating, and power .. .. .. 5,159 3 9 Legal expenses .. . . 180 7 6 Rates .. .. . . 658 15 5 Miscellaneous payments .. 250 12 4 Postages and freight .. 3,896 19 5 Stamp duty on receipts and cheques .. .. 1,142 10 2 Telephone subscriptions .. 1,566 4 I Printing, stationery, and requisites . . . . 4,576 14 8 Travelling-expenses .. 2,421 11 1 Salaries and expenses of Farm Inspectors .. .. 3,521 12 5 Salaries of custodians and staff 4,942 0 9 28,966 18 8 Amounts written off under section 43, Public Trust Office Amendment Act, 1913 .. 262 0 0 Losses on realization of mortgages and of mortgage securities acquired .. .. 14,141 5 5 Depreciation on office premises, furniture, plant, &c. .. .. .. .. 15,982 11 8 Contribution to subsidy to Public Service Superannuation Fund .. .. .. 3,589 9 7 Land-tax .. . . . . . . 445 1 4 Balance, being net profit for year, transferred to Appropriation Account .. .. 1,317 17 1 £300,041 14 7 £300,041 14 7 W. M. Barr, Deputy of the Public Tiustee. F. Menneer, Chief Accountant. Profit and Loss Appropriation Account for the Year ended 31st March, 1934. £ s. d. £ s. d. To Balance .. .. .. .. .. 15,567 12 II By Income-tax refunded .. .. .. 2,801 17 6 Consolidated Fund: One-half profits for year Profit and Loss Account: Balance transferred 1,317 17 1 ended 31st March, 1933, payable in accord- Transfer from Assurance and Reserve Fund .. 13,630 5 2 ance with section 24 (1) of the Finance Act, 1929 .. .. .. .. .. 1,523 8 4 Balance .. .. .. .. .. 658 18 6 £17,749 19 9 £17,749 19 9 £ s. d. By Balance .. .. .. .. .. 658 18 6 W. M. Barr, Deputy of the Public Trustee. F. Menneer, Chief Accountant.

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