BALANCE-SHEETS AND STATEMENTS OF ACCOUNTS OF VARIOUS GOVERNMENT DEPARTMENTS FOR THE YEAR 1937-38. AUDITED ACCOUNTS. (Presented to Parliament in Terms of Section 57 of the Finance Act, 1932.)

Appendix to the Journals of the House of Representatives, 1938 Session I, B-01-part04

1938. NEW ZEALAND.

BALANCE-SHEETS AND STATEMENTS OF ACCOUNTS OF VARIOUS GOVERNMENT DEPARTMENTS FOR THE YEAR 1937-38. AUDITED ACCOUNTS. (Presented to Parliament in Terms of Section 57 of the Finance Act, 1932.)

I—B.1 —B. 1 [PT. IV],

B. —1 [PT. IV].

CONTENT S .

PAGE PAGE Administration of Western Samoa .. .. 4 Legislative .. .. .. .. 34 Agriculture— Main Highways Account .. .. 35 Moumahaki Endowment Account .. .. 6 National Broadcasting Service .. .. .. 39 Nauru and Ocean Islands Account .. .. 7 National Commercial Broadcasting Service .. 40 Orchard-tax Act, 1927, Deposit Account .. 8 National Provident Fund .. .. 41 Weraroa Agricultural Endowment Account .. 9 National Provident Fund and Friendly Societies Audit Department .. .. .. 10 Department .. .. .. 42 Bank of New Zealand Shares Account .. .. 85 Prime Minister's Department .. .. 43 British Phosphate Commissioners .. . . 7 Printing and Stationery Department .. .. 44 Crown Law Office .. .. .. .. 11 Public Service Commissioners' Office .. .. 46 Customs Department .. .. .. .. 12 Public Service Superannuation Fund .. .. 47 Electoral Department .. .. .. .. 13 Public Trust Office .. .. .. 50 Electric Supply Account .. .. .. 14 Railways .. .. .. .. ..52 Employment Promotion Fund .. .. .. 22 Railways Superannuation Fund .. . . 60 Explanatory Memorandum .. .. .. 3 Rangitaiki Land Drainage Scheme .. .. 63 Government Eire Insurance Fund .. .. 25 Repatriation Account .. .. .. 64 Government Life Insurance Department .. .. 23 Reserve Bank of New Zealand .. .. 65 Government Stores Marine Insurance Fund .. 24 Samoan Loan Sinking Fund Accounts 66 Greymouth Harbour Board —Special Coal Rate .. 25 State Advances Corporation .. .. 69 Hauraki Plains Settlement Scheme .. .. 26 State Coal-mines . . .. .. 74 Housing Account .. .. .. .. 71 State Fire Insurance Office .. .. .. 81 Internal Affairs Department .. .. 28 State Fire Insurance Office—Accident Branch .. 81 Lands and Survey Department— Swamp Land Drainage Schemes .. .. 67 Bluff Harbour Endowment Account .. .. 31 Teachers' Superannuation Fund.. .. .. 82 Gore High School Endowment Account .. 31 Treasury Department .. .. .. 84 North Island Experimental Dairy School Account 32 Taranaki Scholarship Endowment Account .. 33

THE FOLLOWING ACCOUNTS WERE NOT AVAILABLE FOR PRINTING IN THIS PUBLICATION AND WILL BE INCLUDED IN A SUPPLEMENT. Agriculture Department— Lands and Survey Department—continued. Departmental. Secondary Education Endowment Deposit Account. Elock House. Surveys of Native Land. Ruakura Earm of Instruction. Victoria College Endowment Account. Air Department. Waipiata-Hamilton Library Endowment Account. Arawa District Trust Board. Wairoa Harbour Endowment Account. Army Department. Wanganui Harbour Endowment Account. Census and Statistics Department. Wanganui River Trust Account. Cheviot Estate. Marine Department. Dairy Industry Loans. Mental Hospitals Department. Education. Mines Department. Ellesmere and l?orsyth and Akaroa Railway Trust Account. Mining Advances Account. External Affairs Department. Miscellaneous Advances from Consolidated Eund. General Purposes Relief. Native DepartmentHealth Department. Departmental. Howard Estate. District Maori Land Boards. Hutt Valley Lands Settlement Scheme. Maori Purposes Eund. Industries and Commerce, Tourist and Publicity. Native Housing. Internal Marketing. Native Land Development Schemes. Justice and Prisons Department. • Native Trustee. Labour Department— Naval Defence Department. Departmental. New Zealand Reparation Estates. Employment Division Pensions Department. Immigration. Police Department. Land and Deeds Department. Post and Telegraph Department. Land and Income Tax Department. Primary Products Marketing Department. Land for Settlements Account. Public Debt Redemption Eund. Lands and Survey Department— Public Works Department : Departmental. Auckland Museum Endowment Account. Reserve Eund Account. Clutha River Trust Account. Scenic Reserves Account. Crown Lands. Scientific and Industrial Research Department. Departmental. Small Farms Scheme. Geraldine County River Board Endowment Stamp Duties Department. Account. < State Advances Office Account. Greymouth Technical and Hokitika High Schools State Balance-sheet. Account. State Income and Expenditure Account. Hunter Soldiers' Assistance Trust Deposit Account. State Eorest Service. National Endowment Account. Taranaki Maori Trust Board. New Zealand University Endowment (Westland) Transport Department. Account. Treasury : Miscellaneous. Otago Boys' and Girls' High Schools Endowment Tuwharetoa Trust Board. Account. Valuation Department. Otago University Endowment Account. Waihou and Ohinemuri Rivers Improvement Account. Primary Education Endowment Deposit Account. Westport Harbour Account.

B.—l [Pt. IV].

EXPLANATORY MEMORANDUM. The following notes are explanatory of the more important matters relating to the preparation of the balance-sheets and revenue accounts included in 8.-l [Pt. IV], 1938, which are prepared on an income and expenditure basis and present a more comprehensive statement of the financial operations of departments and services than is possible in the cash statements included in papers 8.-l [Pts. I and ll]. (i) Authority.—Section 57 of the Finance Act, 1932, requires the preparation of these accounts and their presentation to Parliament. (ii) Capital.—The amounts under this heading in the accounts usually represent the value of fixed assets at the conclusion of the financial year, and the amounts are divided to show loan capital separate from that provided from revenue or other source. (iii) Depreciation.—Treasury Instruction No. 97 specifies various rates of depreciation based on an estimated average life for different classes of assets. The rates are computed usually on the original capital cost. If the nature of a Department's depreciating assets calls for special rates, these are approved as required. (iv) Exchange.—Exchange on all remittances abroad is charged to the Consolidated Fund and appears in the State Income and Expenditure Account; it is not recouped from the various departmental votes in the Consolidated Fund nor from the various separate or special accounts as regards capital expenditure charged in the first instance to the Public Works Fund. Exchange on remittances abroad for purchases of materials and miscellaneous services is, however, recouped from the following separate or special accounts: — Electric Supply. Land for Settlements. Main Highways. State Coal-mines. State Forests. Employment Promotion Fund. Accounts outside the Public Account {e.g., Post Office Account, State Fire Insurance Office Amrant, &c.). No recoupment is made from separate or special accounts (either within or outside the Public Account) for exchange on remittances of interest. (v) Charges not subject to specific Appropriation.—ln pursuance of the general authority quoted in (i) above, certain charges such as administration, exchange of properties, assessed rental values, interest on capital and depreciation allowances, &c., are made through the Treasury Adjustment Account without cash payments or specific appropriation by Parliament. (vi) Interest.—ln the case of separate accounts such as Main Highways Account or State Coal-mines Account, the interest charge shown represents actual interest payable on the loans raised for those specific purposes. In the accounts of other Departments, an average rate, at present 4 per centum per annum, is charged. (vii) Rentals. —Some Departments occupying private premises actually pay rentals. Others occupying Government buildings are assessed annually with rental based on the average rate of interest, the cost or valuation of the property, and the class of building. (viii) State Balance-sheet.—A general balance-sheet and Income and Expenditure Account incorporating the financial transactions of all Government Departments and services are presented. (ix) Treasury Adjustment Account.—This is the equivalent of a " Head Office Account " in branch accounting, and through it are passed inter-departmental transfers and the total of cash transactions for the year. Separate accounts (see vi) having their own cash balances do not utilize a Treasury Adjustment Account. (x) Values. —When the provision of accounts and balance-sheets on a commercial basis by all Departments was first instituted about 1922, it was necessary to bring numerous properties and assets into account by means of a fair valuation. New assets since then, or additions, are usually recorded at actual cost with any depreciation provision shown either as a deduction or separately.

3

B.—l [Pt. IV].

ADMINISTRATION OF WESTERN SAMOA. Revenue Account foe the Year ended 31st March, 1938. Expenditure.. Revenue. £ s. d. £ s. d. £ s. d. * Education Department .. .. 6,417 7 4 Education Department .. .. .. 473 410 Government House .. .. 2,549 6 0 Justice Department .. .. .. .. 999 14 9 Justice Department .. .. 2,124 2 5 Lands and Survey Department .. .. 446 1 6 Lands and Survey Department .. 1,632 1 8 Medical Department .. .. .. .. 13,772 14 7 Medical Department .. .. 21,353 14 2 Native Department .. .. .. .. 419 4 4 Native Department .. .. 7,210 2 1 Police and Prisons Department .. .. 3,301 4 8 Police and Prisons Department .. 8,545 9 2 Postal and Radio Department .. .. .. 9,753 12 6 Postal and Radio Department .. 6,028 6 4 Public Works Department .. .. .. 5,368 16 6 & Public Works Department .. 21,634 0 9 Treasury and Customs, &c. .. .. .. 106,205 15 4 Secretariat .. .. .. 5,968 4 3 Treasury and Customs, &c. .. 24,466 17 10 Public debt charges .. .. 15,060 8 1 122,990 0 1 Depreciation: Buildings, plant, machinery, and furniture, &c, .. .. .. .. 9,333 6 5 Furniture on loan to Labour Department written off .. .. .. .. .. 0 14 0 Amount required to adjust bad debts reserve to the estimated figure .. .. •• 2,633 511 Balance of Revenue Account .. .. .. 5,783 2 7 £140,740 9 0 £140,740 9 0 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Capital Account .. .. .. .. 169,707 15 5 Land .. .. .. .. .. 30,853 19 9 Loans: Public Works general purposes .. 112,195 0 0 Roads and bridges .. .. .. .. 34,052 13 7 Sundry creditors: Ordinary .. .. .. 876 7 4 Apia drainage and waterworks .. .. 22,136 4 8 £ s. d. Native water-supplies .. .. .. 26,256 9 8 Samoan currency notes .. 32,000 0 0 £ s. d. Less unissued notes .. .. 2,000 0 0 Buildings and wharves .. 125,966 0 0 30,000 0 0 Plant and machinery .. .. 38,595 811 Coolie Labour Account— Launches, boats, &c. .. .. 2,524 1 9 Transportation Fund .. 7,575 7 8 Buoys, beacons, and moorings .. 1,269 6 0 Sundry creditors .. .. 0 6 6 Motor and other vehicles .. 3,870 8 4 7,575 14 2 Arms and accoutrements .. 871 3 0 Post Office Savings-bank: Sundry Fire-fighting appliances .. 375 1 9 depositors .. .. .. .. 70,562 6 3 Furniture and fittings .. .. 11,802 9 4 Sundry deposits— Mechanical office appliances .. 644 2 9 Held in Treasury .. .. 2,435 12 9 Medical and technical instruments In departmental trust accounts 2,277 0 0 and equipment .. .. 2,415 9 1 — 4,712 12 9 Libraries .. .. .. 691 4 8 Loans Sinking Fund .. .. .. 4 119 • — Reserve for writings-off in suspense .. .. 706 111 189,024 15 7 Vaisigano Bridge Replacement Reserve .. 5,000 0 0 Less depreciation .. .. 65,077 6 2 Reserve for building*programme, 1938-39 .. 8,500 0 0 123,947 9 5 Assets Replacement Reserve .. .. •• 12,000 0 0 Loose tools .. .. .. .. 905 010 Balance of Revenue Account .. .. .. 5,783 2 7 Saddlery and harness .. .. .. 103 10 7 Live-stock .. .. .. .. .. 251 0 8 Consumable stores .. .. .. .. 15,529 8 3 Goods in transit .. .. .. .. 2,359 8 10 Investments — New Zealand Government— £ s. d. Public Debt Sinking Fund .. 4 119 Inscribed Stock- — Samoan currency notes .. 32,000 0 0 Assets replacement .. 12,000 0 0 Ordinary revenue .. .. 7,350 0 0 Fixed deposit, Bank of New Zealand— Ordinary revenue .. .. 8,000 0 0 Mortgage over freehold property in Samoa .. .. 356 16 4 Post Office Savings-bank, Apia: Deposits .. .. .. 462 0 6 Cash in Bank of New Zealand, Apia: Reserve for building programme, 1938-39 .. 8,500 0 0 Cash in Deposits Account, New Zealand Treasury: Vaisigano Bridge Replacement Reserve .. 5,000 0 0 73,673 8 7 Coolie Labour Account — Investments — New Zealand Government In- t scribed stock .. .. 3,150 0 0 Fixed deposit, Bank of New Zealand .. .. 2,500 0 0 Mortgage over freehold , pr 0......... ......... ... perty in Samoa .. . . 789 7 6. 7 6 Cash in Bank of New Zealand 516 3 10 Sundry debtors, £2,311 13s. 7d.; less reserve for bad and doubtful debts, £1,733 15s. 3d. 577 18 4 Interest on investments accrued but not due .. 42 4 6 7,575 14 2 Carried forward .. .. .. 427,623 12 2 Carried forward .. .. .. 337,644 9 0

4

B.—l [Pt. IV].

ADMINISTRATION OF WESTERN SAMOA—continued. Balance-sheet as at 31st March, 1938 —continued. Liabilities. Assets. £ s. d. £ s. d. Brought forward .. .. .. 427,623 12 2 Brought forward .. .. .. 337,644 9 0 Post Office Savings-bank — £ s. d. Investments in New Zealand .. 69,297 0 0 Cash in Bank of New Zealand, Apia .. .. .. 1,265 6 3 70,562 6 3 Sundry debtors—■ Ordinary .. .. .. 9,158 0 3 Tulaele Farm deferred principal 378 15 0 9,536 15 3 Less reserve for bad and doubtful debts .. .. 6,031 18 0 3,504 17 3 Education Department defalcation .. .. 271111 Sundry advances .. .. .. .. 370 16 3 Advances, land-settlement scheme .. .. 1,786 3 3 Payments in advance .. .. .. 11110 Interest on investments accrued but not due .. 302 5 2 Writings-ofE in Suspense .. .. .. 706 1 11 Cash and bank balances — Cash in hand, Resident Com- £ s. d. missioner, Savaii .. .. 26 13 8 Cash in Deposits Account, N.Z. Treasury, £8,298 lis. 2d. ; less Vaisigano Bridge Reserve above, £5,000 .. .. 3,298 II 2 Bank of New Zealand, Apia, £15,513 12s. lOd.; less Coolie Labour Account above, £516 3s. lOd.; less building programme reserve above, £8,500 6,497 9 0 Imprest Account, London .. 564 6 4 Deposits held in departmental trust accounts .. .. 2,277 0 0 Remittances in transit .. 43 10 0 12,707 10 2 £427,623 12 2 £427,623 12 2 R. A. Malone, Treasurer of Samoa. Examined and found correct. —J. H. Fowler, Controller and Auditor-General.

5

B.—l [PT. IV].

DEPARTMENT OF AGRICULTURE. MOUMAHAKI ENDOWMENT ACCOUNT. Receipts and Payments Account for the Year ended 31st March, 1938. Receipts. Payments. Balance: Cash in Treasury Deposit Administration expenses under section 4, Land Laws £ s. d. Account, Ist April, 1937 — £ s. d. £ s. d. Amendment Act, 1927 .. .. .. 38 16 11 Capital .. .. .. 994 12 10 Refund to vote, "Agriculture," of expenditure on Revenue .. .. .. 8 17 6 agricultural instruction under section 130 (3), 1,003 10 4 Reserves and other Lands Disposal and Public Rents from leases .. .. .. .. 776 18 3 Bodies Empowering Act, 1924 . . .. . . 780 0 0 Interest on investments .. .. .. 34 0 0 Balance : Cash in Treasury Deposit Account at 31st March, 1938— £ s. d. Capital .. .. .. 994 12 10 Revenue .. .. .. 0 18 10 995 11 8 £1,814 8 7 £1,814 8 7 Revenue Account for the Year ended 31st March, 1938. Dr. Cr. £ s. d. Administration expenses under section 4, Land Laws £ s. d. Balance brought forward .. .. .. 230 19 4 Amendment Act, 1927 .. .. .. 38 16 11 Accrued rent .. .. .. .. .. 911 5 8 Expenditure in connection with agricultural instruc- Interest on investments .. .. .. 34 0 0 tion under section 130 (3), Reserves and other Lands Dosposal and Public Bodies Empowering Act, 1924 .. .. .. .. .. 780 0 0 Balance carried forward.. .. .. .. 337 8 1 £1,176 5 0 £1,176 5 0 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. ,4ssefe. £ s. d. Capital .. .. .. .. .. 22,365 4 6 Land: Capital value of leases .. .. .. 19,900 0 0 Rents charged in advance .. .. .. 210 0 0 Motor-car and sundry assets .. .. .. 511 0 Revenue Account .. .. .. .. 357 8 1 Sundry debtors—• Sale of buildings not yet payable .. .. 1,165 911 Principal instalments on buildings .. .. 305 1 9 Rent .. .. .. .. .. 556 16 4 Interest accrued but not due on investments .. 4 1 11 Cash in Treasury Deposit Account, 31st March, 1938— £ s. d. Capital . . .. .. 994 12 10 Revenue .. .. .. 0 18 10 995 11 8 £22,932 12 7 £22,932 12 7 L. C. Scott, Accountant, Department of Agriculture, Wellington. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —J. H. Fowler, Controller and Auditor-General.

6

B. —1 [Pt. IV].

DEPARTMENT OF AGRICULTURE—continued. NAURU AND OCEAN ISLANDS ACCOUNT. Revenue Account foe the Year ended 31st March, 1938. Dr. £ s. d. Gr. Interest on debentures .. .. .. 12,707 510 Annual payment from British Phosphate Com- £ s. d. Administration and management charges .. 558 11 6 mission (in sterling) .. .. .. 35,848 11 2 Audit fee .. .. .. .. .. 500 Exchange on annual payment .. .. .. 8,603 13 1 Balance to Appropriation Account .. .. 31,181 6 11 £44,452 4 3 £44,452 4 3 Appropriation Account for the Year ended 31st March, 1938. £ s. d. £ s. d. Redemption of debentures .. .. .. 39,675 0 0 Balance, Ist April, 1937 .. .. .. 32,867 19 7 Balance, 31st March, 1938 .. .. .. 24,374 6 6 Revenue Account .. .. ~ .. 31,181 6 11 £64,049 6 6 £64,049 6 6 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Capital: Debentures at 3J per cent. .. .. 350,000 0 0 Share (16 per cent.), Nauru and Ocean Islands Interest accrued but not due .. .. .. 2,517 2 5 Phosphate rights (at cost) .. .. .. 565,040 0 0 Reserve Account .. .. .. .. 215,040 0 0 Proportion of annual payment from British Appropriation Account .. .. .. 24,374 6 6 Phosphate Commission, accrued but not due .. 26,886 8 5 Cash — £ s. d. Loans Redemption Account .. 12 6 Deposits Miscellaneous Account .. 318 0 5 0 6 £591,931 8 11 £591,931 8 11 Notes. —(1) New Zealand's share of the profits earned by the Commission has been used for capital developments, but is not included in these accounts; (2) the accounts of the British Phosphate Commission for the year ended 30th June, 1937, are published herewith. L. C. Scott, Accountant. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the departmental notes enfaced thereon. —J. H. Fowler, Controller and Auditor-General. THE BRITISH PHOSPHATE COMMISSIONERS. Trading Account for the Year ended 30th June, 1937. Dr. £ Or. £ F.o.b. cost of phosphate, including interest on capital, Phosphate sales and sundry credits, less freight and contribution to a sinking fund for the redemption of insurance, &c. .. .. .. .. .. 916,690 capital, and other charges in accordance with Article 11 of the agreement of the 2nd July, 1919 .. .. 910,673 Balance .. .. .. .. .. .. 6,017 £916,690 £916,690 £ £ Balance carried forward .. .. .. .. 11,015 Balance brought forward at Ist July, 1936 .. .. 4,998 Balance for year ended 30th June, 1937 .. .. 6,017 £11,015 £11,015 Balance-sheet as at 30th June, 1937. Liabilities. £ Assets. £ United Kingdom Government .. .. .. 1,339,100 Nauru and Ocean Island phosphate rights, buildings, Commonwealth Government .. .. .. 1,339,100 and plant, ships, investments and deposits, less New Zealand Government .. .. .. 510,133 reserves for depreciation and other charges in accordance with Article 11 of the agreement of 3,188,333 the 2nd Ju1y,1919 .. .. .. .. 3,229,804 Sinking fund for redemption of capital .. .. 343,167 Sundry debtors and phosphate on consignment .. 434,539 Sundry creditors and outstandings .. .. 464,553 Voyages in progress .. .. .. .. 7,460 Government Appropriation Account .. .. 25,000 Phosphate and goods in transit .. .. .. 126,602 Trading Account balance .. .. .. 11,015 Stocks at Nauru, Ocean Island, and elsewhere .. 182,901 Cash at banks and in hand .. .. .. 50,762 £4,032,068 £4,032,068 We have examined the foregoing Balance-sheet with the books and vouchers of the British Phosphate Commissioners and the audited accounts from London. We have accepted the certificates of officers of the Commissioners for the valuation of the stocks. We have obtained all the information and explanations we have required. In our opinion the Balance-sheet is properly drawn up so as to exhibit a true and correct view of the state of the Commissioners' affairs according to the best of our information and the explanations given to us and as shown by the books of the Commissioners. Kent, Brierley, and Sully, Chartered Accountants (Aust.), Auditors.

7

11—1 [PT. IV].

DEPARTMENT OF AGRICULTURE-continued. THE ORCHARD TAX ACT, 1927, DEPOSIT ACCOUNT. Revenue Account for the Year ended 31st March, 1938.

Appropriation Account for the Year ended 31st March, 1938.

Balance-sheet as at 31st March, 1938.

L. C. Scott, Accountant, Department of Agriculture, Wellington. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—Cyril G. Collins, Deputy Controller and Auditor-General.

8

Purposes Fireblight-tax under Section 4. Tax — Total. section's Waimea. Christchurch. Marlborough. Giisborne. Sangiora. Expenditure.. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d, Expenses of collection .. .. 567 15 10 10 9 0 1 14 0 3 11 0 3 19 6 0 17 6 588 6 10 Balance to Appropriation Account .. 1,399 1 3 431 3 10 .. 16 5 1 10 1 0 .. 1,856 11 2 1,966 17 1 441 12 10 1 14 0 19 16 1 14 0 6 0 17 6 2,444 18 0 Income. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Tax levied under sections 3 and 4 (includ- 2,134 11 5 486 17 10 .. 21 3 8 14 17 9 .. 2,657 10 8 ing penalty) Less penalties allowed for prompt pay- 167 14 4 45 5 0 .. 1 7 7 0 17 3 .. 215 4 2 ment 1,966 17 1 441 12 10 .. 19 16 1 14 0 6 .. 2,442 6 6 Balance to Appropriation Account .. .. .. 1 14 0 .. .. 0176 2116 1,966 17 1 441 12 10 1 14 0 19 16 1 14 0 6 0 17 6 2,444 18 0

pJj.poaes Hreblight-tax under Section 4. Tax : Total. Section 3 Waimea. Christchurch. Marlborough. Gisborne. Rangiora. Dr. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Balance, 1st April, 1937 Tax irrecoverable, written off .. 17 13 1 .. Ill .. .. 0 0 2 18 14 4 Fruitgrowers' Federation, Fire blight Com- 1,506 15 10 .. 50 9 2 17 2 9 11 9 5 19 7 9 1,605 4 11 mittee, and Department of Scientific and Industrial Research Revenue Account .. .. • • •• • • 1 14 0 .. .. 0 17 6 2 11 6 Balance .. .. •• 1,836 17 6 431 3 10 .. 16 13 9 10 13 10 .. 2,295 8 11 3,361 6 5 431 3 10 53 4 3 33 16 6 22 3 3 20 5 5 3,921 19 8 Cr £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Balance, 1st April, 1937 .. .. 1,962 5 2 .. 53 4 3 17 11 5 12 2 3 20 5 5 2,065 8 6 Revenue Account .. .. .. 1,399 1 3 431 3 10 .. 16 5 1 10 1 0 .. 1,856 11 2 3,361 6 5 431 3 10 53 4 3 33 16 6 22 3 3 20 5 5 3,921 19 8

Purposes Fireblight-tax under Section 4. Tax Total. Seetion*3 Waimea. Christchurch. Marlborough. Gisborne. Rangiora. Liabilities. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Creditors: Departmental .. . • 177 5 3 10 9 0 .. 2 16 6 3 3 0 .. 193 13 9 Suspense Accounts .. .. . . 40 8 7 14 4 2 .. .. . . .. 54 12 9 Appropriation Accounts .. . . 1,836 17 6 431 3 10 .. 16 13 9 10 13 10 .. 2,295 8 11 2,054 11 4 455 17 0 .. 19 10 3 13 16 10 .. 2,543 15 5 Assets. Sundry debtors — £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Departmental .. •. • • j 350 19 0 7 13 7 .. 1 3 8 1 3 10 .. 361 0 1 General .. .. 280 6 II 7 1 5 .. 2 9 7 1 19 9 .. 291 17 8 Cash in Deposit Account .. . .j 1,423 5 5 441 2 0 .. 15 17 0 10 13 3 .. 1,890 17 8 2,054 11 4 455 17 0 .. 19 10 3 13 16 10 .. 2,543 15 5

B.—l [PT. IV].

DEPARTMENT OF AGRICULTURE —continued. WERAROA AGRICULTURAL ENDOWMENT ACCOUNT. Receipts and Payments Account for the Year ended 31st March, 1938. Receipts. Payments. Balance: Cash in Treasury Deposit £ s. d. Administration expenses under section 4, Land Laws £ s. d. Account, Ist April, 1937 — £ s. d. Amendment Act, 1927 .. .. .. 91 5 0 Capital .. .. . . 772 6 0 Balance in Treasury Deposit AcRevenue .. .. .. 6,341 18 5 count, 31st March, 1938 — £ s. d. 7,114 4 5 Capital .. .. .. 772 6 0 Rent from leases .. .. .. 1,847 10 7 Revenue .. . . .. 8,122 4 0 Interest on investments .. .. .. 24 0 0 8,894 10 0 £8,985 15 0 £8,985 15 0 Revenue Account for the Year ended 31st March, 1938. Dr. Cr. £ s. dAdministration expenses under section 4, Land £ s. d. Balance brought forward from previous year .. 8,660 11 8 Laws Amendment Act, 1927 .. .. 91 5 0 Accrued rent .. .. .. .. 1,863 9 9 Remission of rent, Court Order, Mortgagors and Interest on investments .. .. . . 24 0 0 Lessees Rehabilitation Act .. .. .. 275 4 0 Balance carried forward .. .. .. 10,181 12 5 £10,548 1 5 £10,548 1 5 Balance-sheet as at 31st March, 1938. Liabilities. Assets. £ s. d. Endowment lands— £ s. d. £ s. d. Capital .. .. .. .. .. 37,822 8 7 Leased .. .. .. 34,775 0 0 Rents charged in advance .. .. .. 460 0 0 Unleased .. .. 90 0 0 Revenue Account .. .. .. .. 10,181 12 5 34,865 0 0 Sundry debtors — Sales of buildings not yet payable ~ .. 2,435 0 7 Principal instalments on buildings .. .. 882 3 5 Rent .. .. .. .. .. 1,383 6 8 Administration expenses .. .. . . 12 6 Interest accrued but not due on investments .. 2 17 10 Cash in Treasury Deposit Account, 31st March, 1938 — £ s. d. Capital .. .. .. 772 6 0 Revenue .. .. .. 8,122 4 0 8,894 10 0 £48,464 1 0 £48,464 1 0 L. C. Scott, Accountant, Department of Agriculture, Wellington. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —J. H. Fowler, Controller and Auditor-General.

2—B. I. TPT. IV.

9

B,—l [PT. IV],

AUDIT DEPARTMENT. Income and Expenditure Account for the Year ended 31st March, 1938. Expenditure. £ s. d. Income. £ s. d. Salaries .. .. .. .. .. 63,755 210 Fees due .. .. .. .. .. 37,202 17 8 Advertising, books, &e. .. .. .. 135 0 0 Excess of expenditure over income .. .. 41,062 1 4 Allowances, London and Samoa .. .. 753 4 5 Allowances, higher duties .. .. .. 200 10 2 Office fittings and requisites .. .. .. 175 11 1 Postages .. .. .. .. .. 266 10 0 Rent .. .. .. .. .. 1,471 18 10 Telephone services .. .. .. .. 261 10 0 Temporary assistance .. .. .. 869 0 2 Travelling-expenses .. .. .. .. 7,59550 Contingencies .. .. .. .. 2 7 2 Transfer expenses : London .. .. .. 891 210 Printing and stationery .. .. .. 431 16 2 Transfer and removal expenses .. .. 414 4 2 Overtime and meal allowances.. .. .. 839 0 5 Depreciation— £ s. d. Mechanical appliances .. 42 15 2 Furniture and fittings .. 93 19 6 Books .. .. .. .. 66 1 1 202 15 9 £78,264 19 0 £78,264 19 0 £ s. d. £ s. d. Balance .. .. .. .. .. 41,062 1 4 Sale of stores .. .. .. .. 6 3 6 Interest on capital .. .. .. .. 48 10 9 Excess of expenditure over income carried forward 41,104 8 7 £41,110 12 1 £41,110 12 1 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Capital .. .. .. .. .. 1,253 4 7 Furniture and fittings .. .. .. 558 15 11 Treasury Adjustment Account .. .. 44,526 13 2 Mechanical appliances .. .. .. 329 12 8 Creditors— £ s. d. Books .. .. .. .. .. 466 7 9 Departmental .. .. .. 155 18 4 Stationery .. .. .. .. .. 159 14 5 Sundry .. .. .. .. 369 13 1 Stamps .. .. .. .. .. 67 13 3 525 11 5 Debtors— £ s. d. Fees paid in advance .. .. .. .. 17 6 Departmental .. .. 0 10 0 Sundry .. .. .. 3,619 14 1 3,620 4 1 Excess of expenditure over income .. 41,104 8 7 £46,306 16 8 £46,306 16 8 Cyril G. Collins, F.R.A.N.Z., Deputy Controller and Auditor-General. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV]. —J. H. Fowler, Controller and Auditor-General.

10

B.—l [PT. IV].

CROWN LAW/[OFFICE. Income and Expenditure Account for the Year ended 31st March, 1938. Expenditure. £ s. a. Income. £ s. d. Salaries .. .. .. .. .. 7,365 7 4 Law-costs .. .. .. .. .. 390 1 7 Annual certificates .. .. .. .. 40 3 3 Balance .. .. .. .. .. 7,925 17 0 Printing and stationery .. .. .. 114 16 11 Postage .. .. .. .. .. 20 5 0 Purchase of Law Reports, &c. .. .. .. 90 17 7 Telephone services .. .. .. .. 124 0 3 Advertising, newspapers, &c. .. .. .. 414 3 Office fittings, repairs, and requisites .. .. 15 6 5 Travelling-expenses .. .. .. .. 41 10 6 Sundry expenses .. .. .. .. 14 4 10 Rent .. .. .. .. .. 258 0 0 Depreciation— .. .. .. f s. d. Furniture and fittings .. 36 0 4 Mechanical office appliances .. 0 2 9 Library .. .. .. .. 190 9 2 226 12 3 £8,315 18 7 £8,315 18 7 £ s. d. £ s. d. Balance brought down .. .. .. 7,925 17 0 Excess of expenditure over income. .. .. 7,974 7 0 Interest on capital .. .. .. .. 48 10 0 £7,974 7 0 £7,974 7 0 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d Assets. £ s. d. Capital .. .. .. .. 1,154 7 7 Furniture and fittings .. .. .. .. 80 0 4 Creditors— £ s. d. Mechanical office appliances .. .. .. 0 10 0 Departmental .. .. .. 111 2 Library .. .. .. .. .. 1,073 17 3 Sundry .. .. .. 10 7 1 Debtors: Departmental .. .. .. 44 5 0 11 18 3 Payments in advance .. .. .. .. 47 6 6 Treasury Adjustment Account .. .. .. 8,054 0 3 Excess of expenditure over income .. .. 7,974 7 0 £9,220 6 1 £9,220 6 1 H. H. Cornish, Solicitor-General. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV].—-J. H. Fowler, Controller and Auditor-General.

11

B.—l [PT. IV |.

CUSTOMS DEPARTMENT. Revenue Account for the Year ended 31st March, 1938. Dr. Cr. £ s. d. Administrative charges-— £ s. d. £ s. d. Customs and excise duties .. .. .. 10,768,202 11 9 Salaries .. .. .. 95,381 3 9 Beer duty .. .. .. .. 985,105 12 6 Pay of non-permanents .. 3,415 12 5 Brewery supervision fees .. .. .. 1,541 5 0 Allowances, overtime, and rewards 2,376 14 2 Customs fines .. .. .. .. 394 15 0 Expenses of official representa- Customs Agents' license fees .. .. 391 0 0 tives, London .. .. 951 10 8 Distillation Act fees .. .. .. 62 0 0 Expenses of official representative, Gold-export duty (12s. 6d. per ounce) .. 105,157 0 0 New York .. .. .. 1,709 2 1 Hop-beer license fees .. .. .. 84 15 0 Postage and telegrams .. 1,396 5 10 Profit on realization of assets .. .. 19 13 6 Printing and stationery .. 2,170 11 10 Sale of seizures .. .. .. .. 16 5 1 Telephone services .. .. 1,027 18 5 Sale of waste paper .. .. .. 1 11 6 Services rendered by Post and Sales-tax .. .. .. .. 3,497,687 6 6 Telegraph Department .. J., 835 9 2 Sales-tax license fees .. .. .. 629 0 0 Transfer and removal expenses . . 1,322 0 2 Territorial revenue .. . . . . 10 0 Travelling allowances and ex- Timber-export duty .. .. .. 0 18 9 penses .. ■ ■ •. 730 7 0 Tobacco Act license fees .. .. . . 477 0 5 Rent .. .. .. 5,234 18 0 Warehouse license fees .. .. .. 11,239 11 9 Maintenance and repairs .. 88 0 0 Miscellaneous expenses.. .. 2,696 8 2 120,336 1 8 Grants to Cook and Niue Islands Governments .. .. .. 3,610 0 0 Depreciation .. .. .. .. 1, 143 15 4 Balance carried down .. .. .. 15,245,921 9 9 15,371,011 6 9 15,371,011 6 9 £ s. d. £ s. d. Interest on capital .. .. .. 717 12 0 Balance brought down .. .. .. 15,245,921 9 9 Excess of revenue over expenditure .. .. .15,245,203 17 9 £15,245,921 9 9 £15,245,921 9 9 Note. —Percentage cost of collection, including depreciation and interest on capital, 0-8185 = 16s. 4d. Balance-sheet as at 31st March, 1938. Liabilities. | Assets. Capital— £ s. d. £ s. d. £ s. d. Public Works Fund Capital Land .. .. .. .. .. 8,202 0 0 Account .. .. 10,700 10 9 Buildings .. .. .. .. 7,213 7 3 Consolidated Fund Capital Bicycles .. .. .. .. .. 686 Account .. .. 8,621 10 8 Furniture and fittings .. .. .. 3,092 18 11 : 19,322 1 5 Mechanical office appliances .. .. 807 6 9 Creditors — • Saleable books .. .. .. .. 92 0 0 Departmental .. .. 1,255 12 1 Stamps, postage .. .. .. .. 118 7 0 Sundry .. .. .. 1,980 6 6 Stocks— £ s. d. 3,235 18 7 Stationery .. .. 543 7 0 Fees paid in advance .. .. 10,119 0 0 Uniform trimmings .. 38 15 8 Amounts held on deposit— Testing and gauging instruCustoms duties .. .. 132,098 0 6 ments .. .. .. 348 0 8 Immigration Restriction Acts 5,242 0 0 Testing-glasses .. .. 26 14 11 Export-control Boards .. 9,657 3 7 — ——- —- 956 18 3 146,997 4 1 Debtors— Excess of revenue over expenditure .. .. 15,245,203 17 9 Departmental .. .. 40,620 11 3 Sundry .. .. .. 15,797 13 7 — 56,418 4 10 Deposit Accounts— Receiver-General .. .. 122,105 0 0 Collectors of Customs .. 9,993 0 6 Immigration Restriction Acts 5,242 0 0 Dairy Produce Act, 1923 .. 0 3 9 Honey-export Control Act, 1924 .. .. .. 131 3 2 Meat - export Control Act, 1921-22 .. .. 1,796 6 2 Wool Industry Promotion Act, 1936 .. .. .. 7,729 10 6 146,997 4 1 Treasury Adjustment Account .. .. 15,200,973 6 3 £15,424,878 1 10 £15,424,878 1 10 E. D. Good, Comptroller of Customs. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary raturn 8.-l [Pt. IV]. —J. H. Fowler, Controller and Auditor-General.

12

B.—l [PT. IV].

ELECTORAL DEPARTMENT. Income and Expenditure Account for the Year ended 31st March, 1938. Expenditure. £ s. d. Income. £ s. d. Salaries .. .. .. .. .. 6,314 10 5 Miscellaneous revenue .. .. .. .. 216 0 Preparation of rolls .. .. .. . . 119 7 0 Sale of rolls .. .. .. .. .. 34 19 0 Postages and telegrams .. .. .. 577 0 1 Balance carried down .. .. .. ... 10,608 12 0 Printing and stationery . . .. .. 128 6 9 Rent .. .. .. .. .. 748 4 1 Sundries .. .. .. .. .. 232 9 10 Furniture and fittings .. .. .. .. 0 3 1 Depreciation .. .. .. .. .. 32 19 6 Registration of electors .. .. .. 150 0 0 Electoral boundaries revision .. .. 2,343 6 3 £10,646 7 0 £10,646 7 0 £ s. d. £ s. d. Balance brought down .. .. .. 10,608 12 0 Excess of expenditure over income .. .. 10,672 9 9 Interest on capital .. .. .. .. 63 17 9 £10,672 9 9 £10,672 9 9 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Capital .. .. .. .. 1,881 3 9 Furniture, fittings, and mechanical appliances .. 1,605 3 3 Creditors— £ s. d. Stock of electoral maps .. .. .. 167 7 6 Departmental .. .. 1,774 10 11 Postage-stamps on hand .. .. .. 108 13 0 Sundry .. .. .. 142 3 10 Debtors: Departmental .. .. . „ 17 9 1,916 14 9 Writings-off in Suspense .. .. .. 0 3 1 Treasury Adjustment Account .. .. .. 8,757 2 9 Excess of expenditure over income .. .. 10,672 9 9 Losses in Suspense .. .. .. .. 0 3 1 £12,555 4 4 £12,555 4 4 G. G. Hodgkins, Chief Electoral Officer. G. 0. Hall, Accountant. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV]. —J. H. Fowler, Controller and Auditor-General.

13

B.—l [PT. IV].

ELECTRIC SUPPLY ACCOUNT. STATEMENT OF ACCOUNTS AT THE 31st MARCH, 1938. General Balance-sheet at 31st March, 1938, compared with Position at 31st March, 1937.

14

Liabilities. 1937-38. 1936-37. i Assets. 1937-38. 1936-37. i i : [ | Aid to Water-power Works and Electric £ s. d. £ s. d. £ s. d. North Island scheme — £ s. d. £ s. d. £ s. d. Supply Accounts — , Assets as per separate balance-sheet .. 9,687,193 12 6 9,446,309 4 5 Debentures Stock issued— Profit and Loss Account —Loss to date .. .. 155,175 8 4 At 2$ per cent, interest .. .. 1,300,000 0 0 .. 9,687,193 12 6 At 3 per cent, interest .. .. 3,149,372 9 6 3,149,372 9 6 9,601,484 12 9 At 3J per cent, interest .. .. 1,449,225 0 0 1,449,575 0 0 At 3f per cent, interest .. .. 574,555 0 0 574,555 0 0 At 4 per cent, interest .. .. 1,647,600 0 0 1,644,915 0 0 At 4-4 per cent, interest .. .. .. 950 0 0 South Island scheme —• At 4J per cent, interest .. .. 2,623,913 18 0 2,623,913 18 0 Assets as per separate balance-sheet .. 6,635,189 .0 3 6,398,916 9 10 At 4-8 per cent, interest .. .. .. 1,750 0 0 Investments, Sinking Fund .. .. 11,679 15 1 13,429 15 1 At 5 per cent, interest .. .. 3,159,227 13 6 3,159,227 13 6 6,646,868 15 4 At 5i per cent, interest .. .. .. 1,200 0 0 6,412,346 4 11 Debentures not yet converted .. .. 50 0 0 50 0 0 Treasury Bills — Fixed deposit investments taken over from .. .. 45,000 0 0 At 1J per cent, interest .. .. .. 1,300,000 0 0 the Southland Electric Power Board 13,903,944 1 0 13,905,509 1 0 Consolidated Fund — Interest accrued on loans to 31st March, 132,713 15 8 123,947 4 2 1938 Sundry creditors for interest unclaimed .. 10 0 0 1,418 1 8 132,723 15 8 125,365 5 10 Temporary loan .. .. .. .. 12,000 0 0 12,000 0 0 Surveys and General .. .. .. .. 18,717 6 3 18,540 17 2 Interest reserve, being excess of interest .. 81,196 7 10 72,109 8 1 charged to schemes over interest actually paid on capital liability Carried forward .. .. .. 14,129,864 4 6 14,114,983 14 11 Carried forward .. .. .. 16,352,779 14 1 16,077,371 14 10

ELECTRIC SUPPLY ACCOUNT— continued. STATEMENT OF ACCOUNTS AT THE 31st MARCH, 1938—continued. General Balance-sheet at 31st March, 1938, as compared with Position at 31st March, 1937— continued.

B.—l [PT. IV].

Notes.—(a) No charge lor cost of exchange on interest payments made in London is included. (b) Owing to the interconnection of the various schemes, it has not been found practicable to show separately the accounts of these schemes as required by the State Supply of Electrical Energy Act, 1917. J. W. SCOTT, A.R.A.N.Z., Chief Accountant, Public Works Department. I hereby certify that the General Balance-sheet hag been duly compared with the relative books and documents submitted for audit, and correctly states the position as disclosed thereby, subject to the departmental notes enfaced thereon— J. H. Fowler, Controller and Auditor-General.

15

Liabilities. 1937-38. | 1936-37. Assets. 1937-38. 1936-37. £ s. d. £ s. d. £ 8. d. £ s. d. £ s. d. £ s. d. Brought forward .. .. .. 14,129,864 4 6 14,114,983 14 11 Brought forward .. .. .. 16,352,779 14 1 16,077 ,371 14 10 Sundry Creditors — Balance in Electric Supply Account at the North Island scheme .. .. 86,139 11 3 85,432 1 2 end of year — South Island scheme .. .. 40,896 4 1 15,786 14 2 Cash in Public Account .. .. 44,198 7 10 140,630 12 7 Surveys and general .. .. .. 168 8 3 13 16 2 Imprests outstanding.. .. .. 18,856 18 2 3,003 0 7 127,204 3 7 " 63,055 6 0 — — 101,232 11 6 143,633 13 2 Charges paid in advance — : North Island scheme .. .. .. 2 16 .. Suspense Account .. .. .. .. 266 11 9 2,008 1 1 South Island scheme .. .. 1,662 12 4 1,756 0 2 1,664 13 10 1,756 0 2 Depreciation Reserve — North Island scheme .. .. 1,016,184 7 5 949,888 3 11 South Island scheme .. .. 552,104 19 1 471,083 6 11 1,568,289 6 6 1,420,971 10 10 Stocks —Surveys and General .. .. .. 104 9 8 Sinking Fund — Amount utilized for redemption of loans 315, 364 84 313,614 7 4 Available for further redemptions .. 191,321 2 3 13,429 16 1 506,685 10 7 327,044 3 5 Writings-oif in Suspense — North Island scheme .. .. .. 143 13 11 South Island scheme .. .. 8 9 9 18 7 , 886 2 8 9 18 7 General Reserve — South Island scheme .. .. .. 82,399 5 8 257,015 9 8 Sundry debtors for interest due but unpaid .. 787 5 10 Total .. .. .. . . £16,416,993 7 4 £16,223,013 9 1 , Total .. .. .. .. £16,416,993 7 4 £16,223,013 9 1 Contingent Liability. Arrears due to Sinking Fund .. .. £942,756 19 1

B.—l [Pt. IV].

ELECTRIC SUPPLY ACCOUNT— continued. NORTH ISLAND HYDRO-ELECTRIC-POWER SUPPLY. Profit and Loss Account for Year ended 31st March, 1938, compared with Year ended 31st March, 1937. Gross Revenue Account.

Net Revenue Account.

16

1937-38. 1936-37. | 1937-38. 1936-37. To Generating-expenses, headworks, and £ s. d. £ s. d. £ s. d. By Sales of energy — £ s. d. £ s. d. £ s. d. power-house — Wholesale .. .. .. 966,482 5 0 876,215 13 3 Arapuni .. .. .. 17,232 13 4 12,924 19 0 Retail .. .. .. .. 2,247 15 4 1,929 12 8 Horahora .. .. .. 4,315 5 7 5,799 16 4 968,730 0 4 Mangahao .. .. .. 10,172 11 3 13,065 13 7 878,145 5 11 Waikaremoana .. .. .. 14,138 6 2 9,821 5 5 Standby stations .. .. 13,468 18 4 7,189 18 11 Rents — | 59,327 14 8 Cottages, &c. .. .. .. 8,261 5 5 7,294 17 7 48,801 13 3 Lines, plant, &c. .. .. 823 15 6 985 0 1 Transmission-lines — 9,085 0 11 Patrol, maintenance, &c. •. .. .. 36,728 5 4 30,490 8 0 — Substations — 8,279 17 8 Operation and maintenance .. .. 25,988 3 11 23,869 7 0 Management and general — Miscellaneous — Salaries, office expenses, accident, sick, .. 55,500 6 3 41,153 17 8 Tests and inspection .. .. .. 677 4 9 276 11 8 and holiday pay, testing, &c. Penalties .. .. .. .. .. 707 15 4 I ; 177,544 10 2 144,315 5 11 Balance to Net Bevenue Account .. .. 800,947 15 10 743,094 4 8 £978,492 6 0 j £887,409 10 7 £978,492 6 0 £887,409 10 7 ZZI ■ _r i l

! I 1937-38. 1936-37. 1937-38. 1936-37. , £ s. d. £ s. d. £ s. d. £ s. d. To Interest for year ended 31st March, 1938 .. .. 349,816 3 5 391,241 5 10 By Balance from Gross Revenue Account .. .. 800,947 15 10 748,094 4 8 Depreciation on completed works .. .. .. 50,725 6 11 10,463 14 7 King's Wharf Station, half annual charges on capital 37,592 10 2 38,119 11 9 costs thereon Cost of raising loans and expenses .. .. .. 2,151 8 2 59,130 0 1 Balance to Profit and Loss Appropriation Account .. 360,662 7 2 244,139 12 5 £800,947 15 10 £743,094 4 8 £800,947 15 10 £743,094 4 8

B.—l [PT. TV]

ELECTRIC SUPPLY ACCOUNT—continued. NORTH ISLAND HYDRO-ELECTRIC-POWER SUPPLY—continued.

3—B. 1 [PT. IV].

17

Profit and Loss Appropriation Account fob Yeab ended 31st Mabch, 1938, compabed with Year ended 31st March, 1937. , 1937-38. 1936-37. — — j 1937-38. 1936-37. J i II - ' ' ■ £ s. d. £ s. d. £ s. d. £ s. d. To Balance from previous year .. . - • ■ 155,175 8 4 399,315 0 9 By Balance from Net Revenue Account .. .. 360,662 7 2 244,139 12 5 Adjustment of Sundry Debtors overstated 1936-37 .. 50,548 11 1 .. Balance to General Balance-sheet .. •• •• loo, 175 o 4 Balance to Sinking Fund Account.. .. .. 154,938 7 9-. £360,662 7 2 £399,315 0 9 £360,662 7 2 £399,315 0 9 Depreciation Reserve Account. £ s. d. £ s. d. £ s. d. £ s. d. To Replacements renewals. &c • .. 21,443 4 6 60,802 19 1 By Balance at close of previous year .. .. .. 949,888 3 11 961,757 2 9 Balance to General Balance-sheet .. .. .. 1,016,184 7 5 949,888 3 11 Interest at 4 per cent, per annum .. .. .. 'tj/'l* ' w'fJl it I Amount set aside as per Net Revenue Account .. o0,7z5 b 11 it/, 4o 6 7 I £1,037,627 11 11 £1,010,691 3 0 £1,037,627 11 11 £1,010,691 3 0 i K'-!-' ~ = „ j— — Sinking Fund Account. £ s. d. £ «. d. £ s. d. £ s. d. To Balance to General Balance-sheet .. .. 210,868 3 3 55,929 15 6 By Balance at close of previous year .. .. .. 55,929 15 6 55,929 15 6 Balance from Profit and Loss Appropriation Account.. 154,938 7 9 £210,868 3 3~| £55,929 15 6 £210,868 3 3 ; £55,929 15 6

B.—l [PT. IVI-

ELECTRIC SUPPLY ACCOUNT— continued. NORTH ISLAND HYDRO-ELECTRIC-POWER SUPPLY— continued. Balance-sheet at 31st March, 1938.

18

Liabilities. 1937-38. 1936-37. Assets. 1937-38. i 1936-37. | i [_ __ __ __ __! £ s. (1. £ s. d. £ s. d. \ Head works, power-house, machinery, &c. — £ s. d. £ s. d. £ s. d. Depreciation Reserve .. .. .. .. 1,016,184 7 5 949,888 3 11 Arapuni .. .. .. .. 2,487,053 4 2 2,402,081 7 0 Horahora .. .. .. .. 310,870 14 7 310,719 2 10 Mangahao .. .. .. .. 1,281,862 17 3 1,280,951 17 7 Sinking Fund — Waikaremoana .. .. .. 558,143 8 0 555,197 18 6 Utilized for redemption of loans.. .. 55,929 15 6 55,929 15 6 4,637,930 4 0 Available for further redemptions .. 154,938 7 9 .. 4,548,950 5 11 — 210,868 3 3 Auxiliary plants — 55,929 15 6 Diesel Station, Penrose .. .. 62,189 7 8 62,190 14 11 Steam Station Grand Junction .. .. 8,959 2 4 8,991 11 6 Steam Station, Huntly.. .. .. 10,847 1 11 10,847 1 11 Sundry creditors — -— 81,995 11 11 Public Works Department .. .. 19,138 15 0 22,675 5 8 82,029 8 4 Other Government Departments .. 1,394 15 9 1,827 7 3 — — Non-departmental .. .. .. 65,606 0 6 60,929 8 3 Transmission-lines .. .. .. .. 1,589,664 7 2 1,588,877 17 10 _ Substations .. .. .. .. .. 1,077,808 18 2 978,772 12 1 85,432 1 2 Office buildings, land, railway siding, harbour ■ .. 61,461 10 4 42,347 6 1 — —— 86,139 11 3 facilities, &c. Writings-off in suspense .. .. .. .. 143 13 11 Temporary development, Waikaremoana .. .. 800 0 0 800 0 0 Charges paid in advance .. .. .. .. 2 16 Lower development, Waikaremoana .. .. 17,431 17 5 Head Office Account .. .. .. .. 8,373,855 15 2 8,510,234 12 2 Salaries and expenses of engineers and others .. 496,240 6 7 490,189 4 5 on surveys and during construction Cost of raising loans .. .. .. .. 296,454 5 4 296,584 12 0 Interest during construction .. ..I .> 956,627 1 4 947,644 13 6 9,216,414 2 3 8,976,196 0 2 Plant, motor-vehicles, &c. .. .. .. 57,728 16 8 50,396 16 4 Stocks .. .. .. .. .. 165,223 4 5 137,035 9 8 Sundry debtors — Public Works Department .. .. 5,871 18 7 2,939 14 0 Other Government Departments .. 6,903 4 5 8,116 13 7 Non-departmental .. .. 234,977 15 10 271,624 10 8 — 247,752 18 10 282,680 18 3 Payments in advance .. .. .. | .. 74 10 4 — Accumulated loss .. .. ..I .. .. 155,175 8 4 j£9,687, 193 12 6 £9,601,484 12 9 j Contingent Liability. \ £9,687,193 12 6 £9,601,484 12 9 Arrears due to Sinking Fund .. .. £776,363 5 7 ' | I i

B.—l [FT. IV].

ELECTRIC SUPPLY ACCOUNT-continued. SOUTH ISLAND HYDRO-ELECTRIC-POWER SUPPLY. Profit and Loss Account For Year ended 31st March, 1938, compared with Year ended 31st March, 1937.

19

■ ■■; Gross Revenue Account. 1937-38. 1936-37. — 1937-38. 1936-37. _____ __ . . To Generating-expenses, headworks, power- £ s. d. £ s. d. £ s. d. By Sales of energy — £ s. d. £ s. d. £ s. d. houses, and auxiliary plant — Wholesale .. .. ■■ 387,057 15 11 283,631 7 6 Lake Coleridge .. .. .. 9,954 4 9 14,246 3 1 Retail .. .. .. .. 92,555 9 0 39,356 15 1 Waitaki .. .. .. .. 9,164 8 1 8,618 2 5 I — 479,613 4 11 Kaimata 329 5 8 .. j 322,988 2 7 Dobsori .. .. .. .. 3,456 10 11 .. Lyttelton Diesel station. .. . •• 1,217 14 0 824 0 6 Bad debts recovered .. .. .. 192 10 10 112 10 2 Southland .. .. 11,198 6 8 4,256 18 8 Discounts forfeited .. .. .. .. 23 3 0 22 2 6 — 35,320 10 1 Rents — !• 27,945 4 8 Land and buildings .. .. 2,637 11 9 j 2,460 2 9 Transmission and distribution — — Electric lines and plant, &e. .. 1,725 15 0 j 480 17 8 Primary distribution .. .. 11,484 1 1 11,040 14 4 4,363 6 9 | Secondary distribution .. .. 9,043 6 4 6,489 17 10 2,941 0 5 — 20,527 7 5 17,530 12 2 Fees for testing and repairing electrical .. 1,945 17 9 1,031 17 1 appliances and earnings of motorSubstations .. .. .. .. 16,788 1 3 15,667 18 7 vehicles Plant, tools, testing, &c. .. .. 268 3 0 252 1 0 Electrical testing .. .. .. .. 194 2 5 254 14 3 Trunk telephone system .. .. .. 822 4 1 557 1 11 Miscellaneous — Management and general expenses .. .. 52,721 8 8 23,439 15 3 Commissions, sales of appliances, &c. .. 5,290 12 4 1,825 11 11 126,641 16 11 85,647 7 10 Balance, to Net Revenue Account .. .. 364,786 18 8 243,273 16 10 £491,428 15 7 £328,921 4 8 £491,428 15 7 £328,921 4 8 . Net Revenue Account. ; £ s. d. £ 8. d. £ s. d. £ s. d. To Interest for year ended 31st March, 1938 220,111 11 6 212,640 4 4 By Balance from Gross Revenue Account .. 364,786 18 8 243,273 16 10 Depreciation on completed works .. .. 112,374 15 3 112,274 19 5 Revenue from rates, &c. .. .. .. 122 1 11 137 10 7 Cost of raising loans .. .. .. 1,362 12 11 26,420 9 0 Balance to Profit and Loss Appropria- .. .. 108,105 15 9 Commission, collecting rates, &c. .. .. 73 5 0 181 10 5 tion Account Balance to Profit and Loss Appropri- .. 30,986 15 11 tion Account £364,909 0 7 £351,517 3 2 £364,909 0 7 £351,517 3 2

B.—l [PT. IV].

ELECTRIC SUPPLY ACCOUNT—continued. SOUTH ISLAND HYDRO-ELECTRIC-POWER SUPPLY—continued.

20

Profit and Loss Appropriation Account. 1 1937-38. 1936-37. ! 1937-38. 1936-37. j : £ s. d. £ s. d. £ s. d. £ s. d. To Balance from Net Revenue Account .. .. .. .. j 108,105 15 9 By Balance from Net Revenue Account .. ,. .. 30,986 15 11 General Reserve Account (reversing debit balance, Southland 12,231 19: .. Arrears of rates recovered .. .. .. .. 1,147 4 11 section as at 31st March, 1937) ! Transfer from General Reserve Account .. .. 4,800 0 4 108,105 15 9 Balance to Sinking Fund Reserve Account .. .. 24,702 19 5 £36,934 1 2 £108,105 15 9 £36,934 1 2 £108,105 15 9 Depreciation Reserve Account. £ s. d. £ s. d. j £ s. d. £ s. d. To Replacements, Renewals, &c. .. .. .. .. 46,641 18 1 45,279 12 8 By Balance from previous year's statement .. .. .. j 467,665 9 6 388,546 3 4 Balance to General Balance-sheet .. .. .. 552,104 19 1 471,083 6 11 Interest at 4 per cent, per annum .. .. .. j 18,706 12 5 15,541 16 10 Amount set aside as per Net Revenue Account .. . . j 112,374 15 3 112,274 19 5 £598,746 17 2 £516,362 19 7 |£598,746 17 2 £516,362 19 7 =,======= ==0=== | General Reserve Account. £ s. d. ; £ s. d. £ s. d. £ s. d. To Transfer to Profit and Loss Appropriation Account under 4,800 0 4 108,105 15 9 By Balance at close of previous year .. 67,703 7 6 175,809 3 3 section 13 (2) (6) of the State Supply of Electrical Energy Adjustment for excess amount transferred to Profit and Loss 7,264 16 9 Act, 1917 Appropriation Account, 1936-37 Balance to General Balance-sheet .. .. .. 82,399 5 8 67,703 7 6 Profit and Loss Appropriation Account, (reversing debit 12,231 19 balance, Southland section as at 31st March, 1937) £87,199 6 0 £175,809 3 3 £87,199 6 0 £175,809 3 3 Sinking Fund Account. £ s. d. i £ s. d. £ s. d. £ s. d. To Balance to General Balance-sheet .. .. .. 295,817 7 4 ; 271,114 7 11 By Balance at close of previous year .. .. .. 271,114 7 11 • 270,570 9 7 Amount taken over from Southland Electric Power Board .. .. 522 4 0 Interest .. . . .. 21 14 4 Balance from Profit and Loss Appropriation Account .. 24,702 19 5 £295,817 7 4 £271.114 7 11 £295,817 7 4 £271.114 7 11

B.—l [PT. IV].

ELECTRIC SUPPLY ACCOUNT-continued. SOUTH ISLAND HYDRO-ELECTRIC-POWER SUPPLY-continued. Balance-sheet at 31st March, 1938.

21

Liabilities. 1937-38. 1936-37. Assets. 1937-38. 1936-37. ■ I ' . ] £ s d. £ s. d. ! £ s. d. Power stations — ! | Depreciation Reserve .. .. .. .. 552,104 19 1 | 471,083 6 11 Lake Coleridge — £ s. d. £ s. d. : £ s. d. Headworks .. -. 544,028 12 0 544,291 11 6 | General Reserve — Buildings and machinery .. .. 249, 244 2 0 248, 068 7 7 Balance at close of previous year .. 67,703 7 6 175,809 3 3 793,272 14 0 — - j Excess transferred to Profit and Loss 7,264 16 9 792,359 19 1 Appropriation Account, 1936-37 Waitaki — Headworks 1,125,136 14 0 1,123,410 13 6 74,968 4 3 Buildings and machinery .. .. 643,692 2 10 642,265 9 5 , Loss for year .. .. .. .. 108,105 15 9 1,768,828 16 10 -j Profit for year .. .. .. 7,431 1 5 .. 1,765,676 2 11 j 82,399 5 8 Kaimata — j 67,703 7 6 Headworks .. .. 81,830 18 8 Southland —Balance taken over from —— Buildings and machinery .. .. 25,191 1 9 Southland Electric-power Board .. j 189,312 2 2 107,022 0 5 Southland — Headworks .. .. .. 184,657 1 4 218,148 16 4 : Sinking Fund — Buildings and machinery .. .. 15,921 17 2 16,717 18 4 Amount utilized for redemption of loans 259,434 12 10 257,684 11 10 200,578 18 6 - j Available for further redemptions .. 36,382 14 6 13,429 16 1 234,866 14 8 295,817 7 4 Auxiliary plants — 271,114 7 11 Dobson Diesel station .. .. 2,805 7 7 34 19 8 Lyttelton Diesel station .. .. 106,322 2 3 89,066 3 7 : 109,127 9 10 i 89,101 3 3 Sundry creditors — Transmission and distribution — "— Public Works Department .. .. 10,717 2 9 6,953 4 6 Primary .. .. .. .. 1,339,508 18 2 1,250,403 14 8 Other Government Departments .. 2,100 18 2 2,966 18 7 Secondary .. .. .. .. 294,200 9 7 297,794 3 2 Non-departmental .. .. .. 28,078 3 2 5,866 11 1 1,633,709 7 9 40,896 4 1 1,548,197 17 10 15,786 14 2 Substations .. .. .. .. ■ 525,781 2 3 456,701 11 1 Charges paid in advance .. .. .. 1,662 12 4 1,756 0 2 Offices and stores, buildings, &c. .. 17,983 12 3 19,762 3 8 Trunk Telephone System .. .. 43,780 15 10 36,080 9 6 Writings-off in suspense .. .. .. 742 8 9 9 18 7 Exploration and preliminary surveys .. 7 19 6 Salaries and expenses during construction 116,562 0 10 207,499 11 11 Head Office Account .. .. .. .. 5,673,245 18 1 5,395,580 7 6 Interest during construction .. .. 469,157 16 8 468,053 4 1 Charges and expenses of raising loans .. 533, 802 5 10 530, 925 12 7 -1,181,294 10 11 1,262,321 1 9 6,319,615 0 6 6,149,224 10 7 Plant, tools, &c. .. .. .. .. 115,028 6 9 102,519 11 2 Stocks of material .. .. .. .. 100,494 19 2 88,789 11 4 Sundry debtors — Public Works Department .. .. 2,111 6 1 3,626 5 6 ' Other Government Departments .. 2,467 5 11 1,553 5 6 Non-departmental .. .. .. 95,451 2 2 53,180 2 3 ! 100,029 14 2 — — 58,359 13 3 Payments in advance .. .. .. .. 20 19 8 23 3 6 Sinking Fund investments .. .. .. 11,679 15 1 13,429 15 1 |. £6,646,868 15 4 £6,412.346 4 11 Contingent Liability. £6,646,868 15 4 £6,412,346 4 11 , Arrears due to Sinking Fund .. .. £166,393 13 6 = 1 —

B.—l [PT. IV].

EMPLOYMENT PROMOTION FUND. Income and Expenditure Account toe the Year ended 31st March, 1938. Expenditure. £ s. d. Income. £ s. d. Administration expenses .. .. .. 235,000 0 0 Registration levy .. ~ .. .. 448,323 6 8 General work relief .. .. .. 465,140 6 3 Employment charge— Gold-prospecting schemes .. .. .. 100,065 13 6 Tax on salary or wages paid £ s. d. Promotion of employment on farms .. .. 69,206 14 7 in cash .. .. 1,655,171 9 2 Promotion of employment in building trades .. 36,498 6 11 Tax on salary or wages paid Promotion on full-time employment .. .. 1,537,145 19 0 by sale of employment Promotion of employment amongst boys .. 2,362 9 4 stamps . . .. 1,376,923 6 3 Promotion of employment amongst women . . 9,037 9 1 Promotion of employment amongst Natives .. 335,702 2 5 3,032,094 15 5 Assistance to industry .. .. .. 35,981 5 4 Tax on income other than Sustenance allowances .. .. .. 1,338,704 14 9 salary or wages .. 1,627,904 14 4 Miscellaneous grants and subsidies .. .. 2,959 310 4,659,999 9 9 Compensation, ex gratia payments, &c. .. 7,098 1 3 Pines .. .. .. .. .. 7,683 19 11 Purchase of food, clothing, &c. .. .. 10,414 0 5 Penalties for late payment of levy .. .. 24,715 7 4 Bonuses to workers.. .. .. .. 46,182 3 0 Interest on loans .. .. 2,409 14 7 Transport of workers .. .. .. 1,997 1 5 Interest on investments .. 6,090 8 0 Losses in Suspense .. .. .. .. 1,049 14 10 — 8,500 2 7 Depreciation . . .. .. .. 70 17 0 Miscellaneous .. .. .. .. 94 8 10 Excess of income over expenditure .. .. 914,700 12 2 £5,149,316 15 1 £5,149,316 15 1 Balance-sheet as at 31st March, 1938. Liabilities. Assets. Creditors — £ s. d. £ s. d. Debtors — £ s. d. £ s. d. Sundry .. .. .. 182,070 9 2 Sundry . . .. .. 25,492 4 2 Departmental .. .. 37,068 11 9 Departmental .. .. 7,769 12 11 219,139 0 11 33,261 17 1 Levies paid in advance .. .. .. 3,200 0 0 Levies due but unpaid . . .. . . 23,550 0 0 . Employment charge paid in advance .. .. 3,721 17 6 Employment charge due but unpaid .. .. 86,485 0 0 Refunds of employment charge due and unpaid 838 4 11 Interest due but unpaid . . .. .. 1,206 8 1 Writings-off, Reserve .. .. .. 15,513 18 I Interest accrued but not due .. .. 594 19 9 Loan, Premium Account .. .. .. 87 8 5 Buildings .. .. . . .. 1,240 16 0 Excess of income over expendi- £ s. d. Motor-vehicles .. .. .. . . 24 3 4 ture to 31st March, 1937 440,303 10 0 Plant, machinery, and tools .. .. .. 11,152 0 11 Excess of income over expendi- Humphreys Gully water-race .. .. 62,984 5 1 ture for the year ended 31st Loans .. .. .. .. .. 145,394 18 I March, 1938 .. .. 914,700 12 2 Stocks of blankets on hand .. .. .. 781 18 0 1,355,004 22 Investments .. .. .. .. 2,500 0 0 Assets in Suspense .. .. .. .. 15,513 18 1 £ s. d. Cash in Public Account .. 431,288 5 7 Cash invested by Treasury .. 725,000 0 0 Cash held by Post Office .. 53,924 0 9 Imprests outstanding ... 2,602 1 3 — s 1,212,814 7 7 £1,597,504 12 0 £1,597,504 12 0 Note.—Part of the subsidy granted to the gold-mining industry is ■ recoverable out of the proceeds of the gold sold. J. S. Hunter, Secretary of Labour. H. L. Bockett, A.R.A.N.Z., Accountant. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby.— J. H. Fowler, Controller and Auditor-General.

22

B.—l r?T. TV]'.

GOVERNMENT LIFE INSURANCE DEPARTMENT. Revenue Account of the Goveenment Life Insurance Department for the Year ended 31st December, 1937. £ s. d. £ s. d. Amount of funds at Ist January, 1937.. 9,952,310 18 1 Death claims under assurance policies, Renewal premiums—Assurance, annu- including bonus additions .. 209,161 4 0 ity, and endowment, less reinsurance Endowment assurances matured, includpremiums .. .. .. 630,885 9 10 ing bonus additions .. .. 330,932 0 5 New premiums (including instalments Endowments matured .. .. 12,841 19 0 of first year's premiums falling due Premiums returned on endowments .. 373 5 9 in the year) less reinsurance premiums 75,094 7 10 Bonuses surrendered for cash .. 7,004 6 5 Single premiums—Assurance and en- Annuities .. .. .. 33,563 7 0 dowment .. .. .. 59,166 6 8 Surrenders .. .. .. 37,501 8 7 Consideration for annuities .. .. 44,771 18 3 Loans released by surrender.. .. 63,759 6 0 Interest, rent, and other £ s. d. £ s. d. income .. 444,911 10 6 Commission, new .. 56,213 16 6 Less land and in- „ renewal 5,398 13 2 come tax, £34,096 —; —-— 61,612 9 8 17s. Id.; property Contribution to Public Service Superexpenses, £1,427 annuation Fund .. .. 732 1 4 4s. 4d. .. 35,524 1 5 £ s. d. ———-—- — 409,387 9 1 Expenses of management— Salaries .. .. 43,584 2 8 Extra clerical assistance .. .. 568 9 0 Medical fees and expenses .. .. 2,594 13 6 Travelling-expenses 829 9 9 Advertising .. 1,751 1 1 Printing and stationery .. .. 1,995 6 4 Rent .. .. 4,660 19 7 Postage and telegrams .. .. 1,857 2 5 Exchange.. .. 64 3 11 Audit fees .. 325 0 0 General expenses .. . 5,574 13 10 — 63,805 2 1 Property depreciation .. .. 1,081 13 1 Amount of funds; 31st December, 1937 10,349,248 6 5 £11,171,616 9 9 £11,171,616 9 9 Balance-sheet of the Government Life Insurance Department on 31st December, 1937. Liabilities. £ s. d. Assets. £ s. d. Total assurance, annuity, and en- Loans on policies .. .. .. 1,242,926 19 9 dowment funds (as per Revenue New Zealand Government securities .. 2,519,160 0 0 Account) .. .. .. 10,349,248 6 5 Loans to local bodies .. .. 1,798,322 1 9 Claims admitted, proofs not yet Landed and house property .. 369,435 8 1 completed .. .. .. 44,444 5 0 Landed and house property (leasehold) 1,201 11 5 Annuities .. .. .. 324 411 Mortgages on property .. .. 4,575,854 9 3 Medical fees .. .. .. 361 4 0 Properties acquired by foreclosure .. 23,631 .1 1 Premium and other deposits .. 19,013 4 7 Overdue premiums on £ s. d. Sundry creditors .. .. .. 10,403 18 11 policies in force .. 4,132 13 7 Accident and Fidelity Fund.. .. 5,000 0 0 Outstanding premiums Investment Fluctuation Reserve .. 411,954 12 3 due but not overdue 54,896 2 4 Sinking funds on local £ s. d. —— 59,028 15 11 body loans .. 12,485 16 11 Overdue interest .. 26,245 13 7 Interest accrued there- Outstanding interest on .. .. 177 14 0 due but not overdue 12,520 3 11 ——-——— 12,663 10 11 Interest accrued but not due .. .. 99,299 17 8 ——— 138,065 15 2 Sundry debtors .. .. .. 1,481 19 2 Income-tax paid in advance.. .. 30,000 0 0 Cash in hand and on current account.. 94,305 5 5 £10,853,413 7 0 £10,853,413 7 0 W. E. Arnold, Commissioner. ,T. W. Macdonald, Secretary. The Audit Office, having examined the Revenue Account and Balance-sheet, and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. —J. H. Fowler, Controller and Auditor-General.

23

B.—l [Pt. IV].

GOVERNMENT STORES MARINE INSURANCE FUND. (Established under section 134 of the Public Revenues Act, 1926.) Revenue Account for the Year ended 31st March, 1938. Dr. £ s. d. Cr. Accumulated Fund as at Ist April, 1937 .. .. 29,823 11 11 Claims— £s. d. £ s. d. Insurable "Value Armv ■> (I of Iraportsand ft ", *' " " " , ~ , , Exports. Premium. Naval Defence .. .. . , 17 11 6 Premiums— £ £s. d. Post and Telegraph .. .. 13 19 11 Agriculture .. .. 3,315 859 Printing and Stationery .. .. 11 2 3 Air .. ~ 1,122 216 1 Public Works .. .. .. 386 4 1 Army .. .. 65,142 162 17 1 Railways .. .. ..248 13 10 Customs .. .. 62 0 3 1 Scientific and Industrial Research .. 0 10 6 Education .. .. 10,866 27 3 4 680 11 4 External Affairs .. 160,300 400 15 2 Accumulated Fund as at 31st March, 1938 .. 38,092 17 10 Health .. .. 7,500 18 15 0 Industries and Commerce 2,219 5 10 11 Internal Affairs . . 781 1 19 1 Justice .. .. 735 1 16 9 Lands and Survey .. 4,580 11 9 0 Marine .. .. 1,638 4 1 11 Mental Hospitals .. 22,403 56 0 2 Mines .. .. 1,875 4 13 9 National Broadcasting 7,775 19 8 9 Police .. .. 1,235 3 1 9 Post and Telegraph .. 618,865 1,547 3 3 Printing and Stationery 129,488 323 14 5 Public Works .. 744,448 1,861 2 5 Railways .. .. 1,342,675 3,356 13 9 Scientific and Industrial Research .. .. 6,928 17 6 5 State Coal .. .. 533 1 6 8 — 7,836 4 6 £3,134,485 Interest on funds invested in Common Fund of the Public Trust Office .. .. .. 1,113 12 9 £38,773 9 2 £38,773 9 2 Balance-sheet as at 31st March, 1938. Liabilities. £ s. rl. Assets. £ s. d. Accumulated Fund .. .. .. .. 38,092 17 10 Investment in Common Fund of Public Trust Office 37,244 12 0 Sundry creditors (departmental) .. .. 253 16 1 Sundry debtors (departmental) .. .. 1,102 111 £38,346 13 11 £38,346 13 11 A. R. F. Mackay, M.CJom. (N.Z.)., Ph.D. (Lond.), Assistant Accountant to the Treasury. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV], —J. H. Fowler, Controller and Auditor-General.

24

B. -1 [PT. IV].

GREYMOUTH HARBOUR BOARD: SPECIAL COAL RATE. (Greymouth Harbour Board Amendment Act, 1935.) Income and Expenditure Account fob the Yeas ended 31st March, 1938. Expenditure. £ s. d. Income. £ s. d. Interest on loan capital .. .. .. 8,713 10 2 Coal rate received .. .. .. .. 1,829 14 9 Interest on other capital .. .. .. 7,081 19 0 Interest on sinking-fund investments .. .. 2,709 13 3 Excess of expenditure over income .. ..11,256 1 2 £15,795 9 2 j £15,795 9 2 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Loan capital .. .. .. .. 148,186 2 7 Treasury Adjustment Account .. .. 279,860 3 4 Other capital .. .. .. .. 141,639 1 0 Excess of expenditure over income .. .. 11,256 1 2 Interest accrued on loan capital .. .. 1,291 0 11 £291,116 4 6 £291,116 4 6 A. R. F. Mackay, M.Com. (N.Z.), Ph.D. (LoncL), Assistant Accountant to the Treasury. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —J. 11. Fowler, Controller and Auditor-General. GOVERNMENT FIRE INSURANCE FUND. Revenue Account for the Year ended 31 st March, 1938. Dr. £ s. d.. Gr. Accumulated Fund as at Ist April, 1937 .. 45,292 18 6 Claims — £ s. d. £ s. d. Interest on funds invested in Common Fund of Defence .. .. .. 43 5 2 Public Trust Office .. .. .. 1,503 18 13 Education .. .. .. 11,50112 1 Contribution by Government .. .. .. 10,000 0 0 Industries and Commerce .. 564 8 1 Lands and Survey .. .. 779 4 5 Public Works ' .. .. 9,387 5 6 State Forests .. .. 840 1 3 23,115 16 6 Accumulated fund as at 31st March, 1938 .. 33,681 0 6 £56,796 17 0 £56,796 17 0 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d, Assets. £ s. d. Accumulated Fund as at 31st March, 1938 .. 33,681 0 6 Investment in Common Fund of Public Trust Office 40,730 19 6 Claims due but not paid, departmental creditors .. 7,090 11 6 Sundry debtors for claims overpaid .. .. 40 12 6 £40,771 12 0 £40,771 12 0 Contingent liabilities. £s. d. Estimated value of Government buildings at Napier destroyed by fire during the earthquake on 3rd February, 1931, which will become a claim on the fund if it is decided to rebuild .. 2,855 0 0 Estimated cost of replacing Defence Department buildings destroyed by fire .. .. 4,490 0 0 £7,345 0 0 A. R. F. Mackay, M.Com. (N.Z.), Ph.D. (Lond.), Assistant Accountant to the Treasury. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —J, H, Fowler, Controller and Auditor-General.

4—B. 1 [PT. IVJ.

25

B.—l [PT. IV].

HAURAKI PLAINS SETTLEMENT SCHEME. Rate Account as at 31st March, 1938. Dr. £ s. d. Cr. £ s. d. Maintenance completed works .. .. .. 2,313 11 1 Balance brought forward .. .. .. 2,381 17 7 Remission of rates .. .. .. .. 17 13 3 Rates levied .. .. .. .. .. 1,797 1 0 Balance .. .. .. .. 1,902 8 6 Ten-per-cent. penalty added to unpaid rates .. 54 14 3 £4,233 12 10 £4,233 12 10 Receipts and Payments Account for the Year ended 31st March, 1938. Receipts. Payments. Public Works Consolidated Public Works Consolidated Fund. Fund. Fund. Fund. £ s. d. £ s. d. £ s. d. £ s. d. Rates .. .. .. .. .. 1,684 8 7 Drainage works: Stop - banks, Law-costs .. .. ... .. 17 11 1 clearing channels, and other Sale of land .. .. .. 15,336 14 3 .. expenditure incidental to conRents and grazing fees .. .. .. 8,324 .5 5 ducting drainage operations Interest on sales of land .. .. .. 1,11609 (including formation and metal-Artesian-well boring— ling of roads), materials supRepayment of advances.. .. .. 20 7 11 plied, &c. .. .. .. 18,640 18 9 Interest on advances .. .. .. 412 10 Material and stores .. .. 10,650 9 1 Instalments on buildings .. .. .. 1 18 11 Maintenance completed works .. .. 1,757 7 7 Ferry fares .. .. .. .. 204 7 6 Refund rent and interest .. .. .. 138 12 5 Credits in reduction of expenditure .. 9,865 14 1 .. Refund miscellaneous receipts .. .. 213 15 3 Miscellaneous receipts .. .. .. 317 0 9 Refund proceeds sale of land .. 5 0 0 Royalties .. .. .. .. 203 0 11 Discharged Soldiers Settlement AcTransfer expenditure to Treasury count: Recoupment in respect Adjustment Account .. .. .. 2,410 15 11 of merged transactions .. .. .. 12 11 8 Transfer expenditure to Public Kaihere Ferry expenses .. .. .. 288 9 0 Works Fund .. .. .. 29,296 7 10 .. Transfer receipts to Treasury Adjustment Account .. .. .. 11,893 14 8 Transfer receipts to Public Works Fund .. .. .. 25,202 8 4 £54,498 16 2£14,304 10 7 £54,498 16 2£14,304 10 7 Revenue Account for the Year ended 31st March, 1938. Dr. £ s. d. Cr. £ s. d. Interest on Public Works Fund capital .. .. 34,659 19 5 Accrued rents .. .. .. .. 8,419 3 3 Kaihere Ferry expenses .. .. .. 293 4 0 Interest on sales of land .. .. .. 1,443 17 9 Administration expenses .. .. .. 451 15 0 Grazing fees .. . . .. .. 10 9 5 Remissions of rent .. .. .. .. 519 8 3 Ferry lares .. .. .. .. .. 199 10 3 Rebates .. .. . • • • .. 604 410 Forfeited deposits .. .. .. .. 2 0 0 Irrecoverable rents, &c. .. .. .. 0 0 6 Kaihere Ferry : Portion of loss charged to County Premiums on conversion .. .. .. 14 10 0 Council .. .. .. .. .. 002 Hire of plant .. .. .. .. 103 16 11 Royalties .. .. .. .. .. 203 011 Net loss carried down.. .. .. .. 26,161 3 4 £36,543 2 0 £36,543 2 0 £ s. d. £ s. d. Net loss brought down .. .. .. 26,161 3 4 Balance carried forward ~ .. .. 309,292 11 9 Balance from previous year .. .. .. 283,131 8 5 £309,292 11 9 £309,292 11 9

26

B.—l [PT. IV].

HAURAKI PLAINS SETTLEMENT SCHEME —continued. Balance-sheet as at 31st March, 1938. Liabilities. Assets. Capital Account — £ s. d. £ s. d. Improved lands handed over to £ s. d. £ s. d. Public Works Fund .. .. 868,624 7 5 Land Board for settlement— Value of Crown land set apart Leased .. .. .. 152,390 8 3 under Act .. .. 45,000 0 0 Unleased .. .. .. 11,437 17 0 Transferred from Discharged Unpaid purchase-money for land Soldiers Settlement Account.. 264 15 0 sold on deferred payment .. 24,050 2 6 913,889 2 5 187,878 7 9 Employment Promotion Fund capital .. .. 8,593 15 5 Unimproved value, land not disposed of .. 41,693 311 Consolidated Fund capital .. .. .. 6,112 '4 9 Improvements on adjoining Crown lands .. 7,710 0 0 Reserve for loss on Discharged Soldiers Settlement Permanent reserves .. .. .. .. 8,851 0 0 assets .. .. .. .. .. 140 0 0 Works in progress : Expenditure on land in course Sundry creditors — £ s. d. of reclamation, including formation and metalMiscellaneous .. .. 2,423 18 10 ling of roads .. .. .. .. 624,116 14 9 Departmental .. .. 513 16 0 Capital expenditure— 2,937 .14 10 Employment Promotion Fund .. .. 8,593 15 5 Rent charged in advance .. .. .. 1,900 0 0 Consolidated Fund .. .. .. .. 6,11249 Rate Account .. .. .. .. 1,902 8 6 Artesian wells — £ s. d. Payments in advance — £ s. d. Crown tenants, Hauraki Plains.. 288 8 § Grazing fees .. .. 0 15 0 Permanent reserves and Crown Rent .. .. .. 92 7 2 lands .. .. .. 216 10 9 Rates .. .. .. 0 0 7 504 19 5 Instalment of principal on de- Buildings .. .. .. .. .. 3,898 5 2 ferred-payment sales .. 29 0 5 Wharves .. .. .. .. .. 200 0 0 Instalment of interest on de- Machinery and plant .. .. .. 17,167 4 5 ferred-payment sales .. 18 4 3 Live-stock .. .. .. .. .. 10 11 0 140 7 5 Stores .. .. .. .. .. 6,155 811 Suspense Account .. .. .. .. 16 1 Stamps on hand .. .. .. .. 0 10 Writings-off in Suspense .. .. .. 16,639 16 7 Sundry debtors — £ s. d. Treasury Adjustment Account .. .. 310,124 7 2 Rent .. .. .. 3,054 4 1 Rates .. .. .. 3,663 13 3 Instalment of principal on de-ferred-payment sales .. 94 14 9 Instalment of principal on buildings .. .. .. 4 0 10 Interest on well-boring .. 105 0 3 Interest on deferred - payment sales .. .. .. 326 5 10 Law-costs .. .. .. 132 18 0 Tram freights and ferry fares .. 16 9 3 Grazing .. .. .. 31 2 5 Miscellaneous .. .. 5,112 3 2 Departmental .. .. 10,328 2 3 22,868 14 1 Postponed rent (Mortgagors and Lessees Rehabilitation Act, 1936) .. .. .. .. 143 1 4 Postponed rent (Land Act, 1924) .. .. 92 10 7 Losses in Suspense .. .. .. .. 16,639 16 7 Interest accrued but not due .. .. .. 325 0 0 Premiums on conversion .. .. .. 72 10 0 Cash in transit from Post Office .. .. 55 2 4 Revenue Account: Balance forward .. .. 309,292 11 9 £1,262,381 3 2 £1,262,381 3 2 Try i i i = - - = W. Robertson, Under-Secretary for Lands. Wm. E. Shaw, Chief Accountant. I hereby certify that the Rate Account, the Revenue Account, and the Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental Accounts generally as appearing at commencement of parliamentary return [8.-I, Pt. IV]. The following comment is appended : The balance of the Works in Progress Account —viz., £624,116 14s. 9d. —appearing in the Balance-sheet greatly exceeds the value of lands the control of which has not yet been transferred to the Land Board. —J. H. Fowler, Controller and Audit-General.

27

B.—l [PT. IV],

DEPARTMENT OF INTERNAL AFFAIRS. HEAD OFFICE (INCLUDING MINISTERS' SECRETARIES, MESSENGERS AND CLEANERS, MISCELLANEOUS SERVICES AND PAYMENTS UNDER SPECIAL ACTS). Income and Expenditure Account fob the Year ended 31st March, 1938. Expenditure. Income. Departmental Administrative Charges. Sundry revenue— £ s. d. £ s. d. £ s. d. £ s. d. Auctioneers' license fees, cornSalaries .. .. ..32,704 12 6 ' ' mission on .. .. .. 367 15 0 Commissions of Inquiry .. ... 665 17 10 British. Nationality and Status of Freight and cartage .. 579 7 8 Aliens Act .. .. .. 850 6 0 Fresh-water fisheries .. ..6,126 11 5 Cinematograph films, censorship of 2,315 15 7 Deer-herds, reduction of .. ..14,130 10 10 By-laws Act .. .. .. 9 9 0 Light, power, and water .. .. 643 9 3 Land Agents Act • • ■ • 8,488 12 5 Office cleaning ... .. .. 219 0 2 Opossum revenue .. ..3,236 5 1 Office requisites and repairs .. 164 13 4 Passport fees .. .. .. 4,386 7 3 Postage and telegrams .. .. 603 16 3 Deer-herds, reduction of .. ..8,920 15 3 Printing and stationery .. .. 1,935 0 4 Fresh-water fisheries .. ..7,738 410 Publications .. .. .. 484 17 5 Regulations Act, 1936 .. .. 748 9 1 Rent of offices .. .. ..3,552 4 0 Royal visit, recoveries re .. 144 18 6 Telephone services .. .. 512 5 3 Miscellaneous revenue .. .. 408 15 10 Totalizators, inspection of .. 685 910 Interest on loan .. .. 44 7 0 Travelling-expenses of officers .. 741 6 2 ~ 37,660 010 Physical welfare and recreation: Ex- Balance carried down .. .. .. 470,759 5 5 penses of National Council .. 56 18 2 War graves, upkeep of .. .. 3,394 8 7 Entertaining visitors to New Zealand 4,557 14 6 Turnbull Library, expenses of .. 731 16 1 Town-planning expenses .. .. 286 2 11 Depreciation .. .. . . 1,497 9 0* Losses in Suspense .. .. 813 16 1 Sundries .. .. .. 598 5 4 75,685 12 11 General Government Administrative Charges. Salaries of Ministers' Secretaries, Messengers and Cleaners, Clerks and Typists in other Departments and £ s. d. in Ministers'offices .. ..90,986 17 5 Fuel for Government offices .. 1,538 12 4 Light, power, and water .. ..5,791 3 0 Office-cleaning .. .. .. 2,993 17 6 Publications for Ministers' offices .. 439 7 7 Regulations Act, 1936 : Expenses .. 1,547 10 1 New Zealand Gazette .. ..2,939 11 4 Ministerial telegraphic memoranda .. 5,350 0 0 Printing and stationery, Ministers' offices .. .. .. 970 6 5 Telephone services .. ..1,179 5 5 Travelling allowances and expenses of Ministers . . .. .. 6,208 12 7 Travelling allowances and expenses of Private Secretaries .. .. 3,493 1 2 Travelling allowances and expenses of Ministerial staffs .. .. 507 19 10 Travelling allowances and expenses of co-opted Members of Parliament .. 359 0 9 Charges not allocated .. .. 95 16 1 Sundries .. .. .. 576 8 11 124,977 10 5 Special Acts. Salaries of Governor-General and £ s. d. Ministers .. .. ..23,516 13 4 Appropriation Act, 1926, seetion 15.. 5,556 0 8 29,072 14 0 Other Charges. £ s. d. Cost-of-living bonus to annuitants .. 3,075 12 5 Coronation of King George VI — Expenses of New Zealand contingent .. . • -. 3,299 7 3 Expenses of New Zealand delegates to England .. .. 2,253 13 0 Expenses of celebrations in New Zealand .. .. ..11,569 1 6 Expenses of seats for New-Zealand-ers in London .. .. 19 6 1 Coronation robes and regalia : Exhibition expenses .. .. 52 17 7 Brussels Conference: Expenses of New Zealand delegates .. .. 330 13 8 International Labour Conference, Geneva : Expenses of New Zealand delegates .. •• ..1,583 14 4 Grants .. .. •• ..12,031 9 6 Carried forward .. 34,215 15 4 229,735 17 4 Carried forward .. .. .. 508,419 6 3 » Allowances for depreciation consist of: Buildings—General £127 14s. Id., hatchery £93 18s. 6d., Turnbull Library £187 15s. 3d.; furniture and fittings, £196 17s 5d ■ mechanical appliances, £44 3s. Bd.; library, £14 Is. 5d.; tools and utensils, £37 6s. 7d.; launches and boats, £15 18s. 2d.; horses and dogs', £3i'l6s. Bd.; wharves and beacons, £50 lis. 2d.; motor-vehicles, £485 15s. 6d.; Inspector's outfit, £1 10s.; hunting-equipment, £11 os. Bd.; camp equipment, £176 15s. 4d.; pheasants and hens, £22 4s. 9d.

28

15. 1 [PT. IV].

DEPARTMENT OF INTERNAL AFFAIRS —continued. HEAD OFFICE, ETC. —continued. Income and Expenditure Account foe the Year ended 31st March, 1938 —continued. Expenditure. Income. Otheb Charges continued. Brought forward .. .. 50M19 6 *3 £ s. d. £ s. d. Brought forward .. .. 34,215 15 4 229,735 17 4 Funeral expenses, late Sir Traby King 205 10 0 Fire Brigades' Annual Conference : Grant and rail passes .. .. 1,334 17 6 National Health and Superannuation : Preliminary expenses .. .. 1,568 17 10 New Zealand Centennial Celebrations— Expenses re .. .. 129 15 7 Subsidies to local bodies . . 4,954 3 10 New Zealand R.S.A. contingent to Australia .. .. .. 2 15 0 King George V Memorial Fund: Grant, subsidy, and expenses re .. 89,132 6 5 Public Service Superannuation Fund, contribution to .. .. 86,000 0 0 Superannuation Funds: Increased allowances to widows and children 13,433 13 2 Superannuation Funds : Contribution under Statutes Amendment Act, 1936 .. .. .. . . 931 0 0 Reimbursement on account of reduction in rate of interest .. 36,091 0 0 Subsidies to Fire Boards .. .. 4,201 0 10 Visit of Hon. the Minister of Finance to England .. .. .. 4,600 3 9 Visits of Hon. Ministers to Australia.. 1,250 0 0 Sundries .. .. .. 632. 9 8 278,683 8 11 £508,419 6 3 £508,419 6 3 £ s. d. £ s. d. Balance brought down .. .. .. 470,759 5 5 Miscellaneous revenue .. .. .. 25 10 0 Interest on capital .. .. .. 1,518 16 1 Balance carried to balance-sheet .. .. 472,252 11 6 £472,278 1 6 £472,278 1 6 SUBDIVISION IV—HIGH COMMISSIONER. Income and Expenditure Account for the Year ended 31st March, 1938. Expenditure. income. £ s. d. Sundry revenue— £ s. d. Salaries .. .. .. .. 33,394 16 0 Recoveries of salaries .. .. .. 6,077 4 6 Advertising .. .. .. .. . . 184 111 Shipping charges .. .. .. .. 167 12 0 Fuel and light .. .. . . . . 868 13 3 Rent of offices .. .. .. .. 3,060 17 2 House allowance: High Commissioner . . . . 1,083 6 8 Miscellaneous revenue .. .. .. 49 2 8 Motors: Maintenance .. . . . . 335 1 1 Balance carried down .. .. .. 39,39682 Office-cleaning .. .. . . .. 244 10 j 5 Official entertainments .. .. .. 360 2 4 Office requisites .. .. .. . . 108 11 8 Postage and telegrams .. .. .. 2,018 14 2 Printing and stationery .. .. .. 732 9 10 Rent of offices .. .. .. .. 7,711 5 2 Repairs to offices .. .. .. .. 282 15 5 Transfer expenses of officers .. . . .. 374 0 3 Travelling allowances and expenses .. .. 216 II 2 Depreciation— £ s. d. Furniture and fittings .. 154 4 0 Mechanical appliances .. 28 11 0 Library .. .. .. 94 2 7 Motor-vehicles .. .. 147 0 0 ■ 423 17 7 Sundries .. .. .. . . . . 412 7 7 £48,751 4 6 £48,751 4 6 £ s. d. £ s. d. Balance brought down .. .. .. 39,396 8 2 Balance carried to balance-sheet .. .. 40,303 5 9 Interest on capital .. .. .. .. 906 17 7 £40,303 5 9 £40,303 5 9

29

B.—l [PT. IV].

DEPARTMENT OF INTERNAL AFFAlRS—continued. SUBDIVISION V.—EXPLOSIVES BRANCH. Income and Expenditure Account foe the Year ended 31st March, 1938. Expenditure. Income. £ s. d. Sundry revenue— £ s. d. Salaries .. .. .. .. .. 3,340 0 9 Magazine revenue .. .. .. .. 1,291 9 4 Magazine expenses .. .. .. .. 1,310 9 4 Explosives license fees .. .. .. 6,781 13 6 Postage and telegrams .. .. .. 205 310 Storage of powder .. .. .. .. 1,913 7 3 Printing and stationery .. .. .. 112911 Miscellaneous revenue .. .. .. 32 9 9 Rent of offices .. .. .. .. 87 0 0 Travelling allowances and expenses .. .. 863 7 9 Depreciation — £ s. d. Furniture and fittings .. 10 1 9 Mechanical appliances ... 4 12 1 Buildings .. .. .. 486 12 10 Bicycles .. .. .. 3 16 0 505 2 8 Sundries .. .. .. .. .. 100 2 9 Balance carried down .. .. .. 3,495210 £10,018 19 10 £10,018 19 10 £ s. d. £ s. d. Interest on capital . . .. .. . . 322 0 4 Balance brought down . . .. .. 3,493 210 Balance carried to balance-sheet .. .. 3,173 2 6 £3,495 2 10 £3,495 2 10 Combined Income and Expenditure Account for the Year ended 31st March, 1938. (Including Head Office, Ministers' Secretaries, Messengers, High Commissioner, Explosives Branch, and Special Acts). Balances from separate accounts as under — £ s. d. Balances from separate accounts as under: Ex- £ s. d. Head Office .. .. .. .. 472,252 11 6 plosives Branch .. .. .. .. 3,173 2 6 High Commissioner .. .. .. 40,303 5 9 Balance carried to combined balance-sheet .. 509,382 14 9 £512,555 17 3 £512,555 17 3 Balance-sheet as at 31st March, 1938. Liabilities. Assets. Capital at 31st March, 1938 — £ s. d. £ s. d. Departmental assets : Head Office Public Works Fund .. .. 7,778 8 7 and sub-Departments— £ s. d. £ s. d. Consolidated Fund .. .. 114,390 8 4 Land .. .. .. 14,263 9 6 122,168 16 11 Buildings .. .. .. 7,421 19 6 Creditors — Bridges .. .. .. 105 2 0 Departmental .. .. 4,909 4 1 Consumable stores .. .. 861 9 0 Sundry .. .. .. 8,924 16 10 Tools and utensils .. .. 474 811 13,834 011 Furniture and fittings .. 3,543 3 1 Repayment of loans in advance .. .. 157 3 1 Mechanical appliances .. 760 7 10 Writings-off in Suspense .. .. .. 813 16 1 Motor-vehicles .. .. 3,024 8 0 Treasury Adjustment Account .. .. 506,885 13 9 Library .. .. .. 397 12 1 Photographic apparatus .. 0 9 11 30,852 9 10 Special departmental assets— Head Office— Turnbull Library building .. 6,049 10 3 Turnbull Library .. .. 58,466 6 2 Fish-hatcheries .. .. 3,808 11 5 Wharves and beacons .. 1,533 10 6 Launches and boats .. 103 17 8 Horses and dogs .. .. 62 19 3 Camp outfit: Inspector under Animals Protection and Game Act .. , t 1 10 0 Camp-equipment .. .. 717 13 3 Hunting-equipment .. 60 9 2 Pheasants and hens .. 65 19 5 Stock of deer and goat skins.. 1,696 5 0 72,566. 12 1 High Commissioner — Lease of buildings .. .. 20,425 0 0 Motor accessories .. .. 10 0 20,426 0 0 Explosives Branch: Explosives appliances.. .. .. .. 20 0 0 Debtors— Departmental .. .. 2,046 1 6 Sundry .. .. .. 7,096 7 7 Stranded New-Zealanders .. 655 8 11 9,797 18 0 Losses in Suspense .. .. .. .. 813 16 1 Excess of expenditure over income .. .. 509,382 14 9 £643,859 10 9 643,859 10 9 J. W. Heenan, Under-secretary. F. B. Dwyer, Accountant. I hereby certify that the Income and Expenditure Accounts and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV]. —J. H. Fowler, Controller and Auditor-General.

30

B.—l [PT. IV],

LANDS AND SURVEY DEPARTMENT. BLUFF HARBOUR ENDOWMENT ACCOUNT. Receipts and Payments Account fob the Year ended 31st March, 1938. Receipts. £ s. d. Payments. £ s. d. Balance in Local Bodies' Deposit Account of Receiver Administration expenses paid to Consolidated Fund of Land Revenue, Invercargill, on Ist April, 1937 995 0 3 under section 4, Land Laws Amendment Act, 1927 58 19 2 Rents .. .. .. .. .. 1,179 1 2 Payments to Bluff Harbour Board under section 132, Harbour Act, 1923 .. .. .. .. 1,649 16 0 Balance in Local Bodies' Deposit Account of Receiver of Land Revenue, Invercargill, on 31st March, 1938 465 6 3 £2,174 1 5 £2,174 1 5 Revenue Account for the Year ended 31st March, 1938. Dr. £ s. d. Cr. £ s. d. Administration expenses due to Consolidated Fund Balance from previous year .. .. .. 1,499 0 7 under section 4, Land Laws Amendment Act, 1927 58 19 2 Accrued rents .. .. .. .. 1,216 9 8 Amount due to Bluff Harbour Board under section 132, Harbours Act, 1923 .. .. . . 1,120 2 0 Remissions granted under Land Act, 1924 . . 12 11 0 Balance carried forward .. .. 1,524 4 1 £2,715 16 3 £2,715 16 3 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. £ s. d. Capital .. .. .. .. .. 25,362 12 6 Endowment lands .. .. .. .. 25,362 12 6 Rent charged in advance .. .. .. 469 18 11 Sundry debtors for rent .. .. .. 1,852 4 9 Bluff Harbour Board : Amount not yet paid over .. 465 6 3 Postponed rent .. . . .. .. 141 18 3 Revenue Account .. .. .. 1,524 4 1 Cash in Local Bodies' Deposit Account of Receiver of Land Revenue, Invercargill, on 31st March, 1938 465 6 3 £27,822 1 9 £27,822 1 9 W. Robertson, Under-Secretary for Lands. Wm. E. Shaw, Chief Accountant. I hereby certify that the Statement of Receipts and Payments, Revenue Account, and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —J. H. Fowler, Controller and .Auditor-General. GORE HIGH SCHOOL ENDOWMENT ACCOUNT. Receipts and Payments Account fob the Year ended 31st March, 1938. Receipts. £ s. d. Payments. £ s. d. Rents .. .. .. .. .. 65 0 0 Administration expenses paid to Consolidated Fund under section 4, Land Laws Amendment Act, 1927 3 5 0 Payment to Board of Governors of Gore High School under section 89, Reserves and other Lands Disposal and Public Bodies' Empowering Act, 1919 .. 61 15 0 £65 0 0 £65 0 0 Revenue Account for the Year ended 31st March, 1938. Dr. £ s. d. Cr. £ s. d. Balance brought forward from previous year .. 16 5 0 Accrued rent .. .. .. .. 65 0 0 Administration expenses due to Consolidated Fund Balance carried forward .. .. .. 16 5 0 under section 4, Land Laws Amendment Act, 1927 3 5 0 Amount due to Board of Governors of Gore High School under section 89, Reserves and other Lands Disposal Act, 1919 .. .. .. .. .. 61 15 0 £81 5 0 £81 5 0 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Capital .. .. .. .. 1,300 0 0 Land .. .. .. .. 1,300 0 0 Rents charged in advance .. .. .. 16 5 0 Revenue Account: Balance carried forward .. 16 5 0 £1,316 5 0 £1,316 5 0 W. Robertson, Under-Secretary for Lands. Wm. E. Shaw, Chief Accountant. I hereby certify that the Statement of Receipts and Payments, Revenue Account, and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the; position as disclosed thereby. —J, H. Fowler, Controller and Auditor-General.

31

15. -1 [PT. IV].

LANDS AND SURVEY DEPARTMENT—continued. NORTH ISLAND EXPERIMENTAL DAIRY SCHOOL ACCOUNT. Receipts and Payments Account foe the Yeas ended 31st Maech, 1938. Receipts. £ s. d. Payments. £ s. d. Balance in Treasury Deposit Account Administration expenses .. .. .. 10 1 4 at Ist April, 1937 — £ s. d. Payment to Massey Agricultural College for benefit Cash .. .. .. .. 3,099 14 5 of Dairy Research Institute .. .. .. 330 0 0 Investments .. .. .. 8,800 0 0 Balance in Treasury Deposit Account 11,599 14 5 at 31st March, 1938— £ s. d. Rents .. .. .. .. .. 201 5 0 Cash .. .. .. .. 3,100 18 1 Interest on investments .. .. .. 340 0 0 Investments .. .. .. 8,500 0 0 11,600 18 1 £12,140 19 5 £12,140 19 5 Revenue Account foe the Yeae ended 31st Maech, 1938. Dr. £ s. d. Or. £ s. d. Administration expenses under section 4, Land Accrued rent .. .. .. .. 201 5 0 Laws Amendment Act, 1927 .. .. 10 1 4 Interest on investments .. .. .. 340 0 0 Payment to Massey Agricultural College for benefit of Dairy Research Institute .. .. 530 0 0 Balance carried down .. .. .. 13 8 £541 5 0 £541 5 0 £ s. d. £ s. d. Balance .. ~ .. .. ..11,63525 Balance brought down .. .. .. 13 8 Balance from previous year .. .. .. 11,633 18 9 £11,635 2 5 £11,635 2 5 Balance-sheet as at 31 st Maech, 1938. Liabilities. £ s. d. Assets. £ s. d. Capital .. .. .. .. •• 4,844 19 10 Leased land .. .. .. .. .. 4,625 0 0 Rents charged but not accrued .. .. 6 15 5 Plantation .. .. . . .. .. 219 19 10 Revenue Account — £ s. d. Interest on investments accrued but not due .. 40 19 9 Balance, Ist April, 1937 .. 11,633 18 9 Treasury Deposit Account— £ s. d. Surplus for year .. .. 13 8 Cash .. .. .. .. 3,100 18 1 11,635 2 5 Investments .. .. .. 8,500 0 0 11,600 18 1 £16,486 17 8 £16,486 17 8 W. Robeetson, Under-Secretary for Lands. Wm. E. Shaw, Chief Accountant. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— J. H. Fowler, Controller and Auditor-General.

32

B.—l [PT. IV].

LANDS AND SURVEY DEPARTMENT —continued. TARANAKI SCHOLARSHIP ENDOWMENT ACCOUNT. Receipts and Payments Account foe the Year ended 31st March, 1938. Receipts. £ s. d. Payments. £ s. d. Balance in Treasury Deposit Account at Ist April, 1937 459 2 10 Administration expenses under section 4, Land Laws Rents .. .. .. .. .. .. 966 610 Amendment Act, 1927 .. .. .. 48 6 4 Public Trustee under section 22, New Zealand University Amendment Act, 1914 .. .. 918 7 0 Balance in Treasury Deposit Account at 31st March, 1938 .. .. .. .. .. 458 16 4 £1,425 9 8 £1,425 9 8 Revenue Account for the Year ended 31st March, 1938. Dr. £ s. d. Cr. £ s. d. Administration expenses under section 4, Land Laws Accrued rent .. .. .. .. .. 966 13 4 Amendment Act, 1927, and section 31 (2), Land Laws Amendment Act, 1929 .. .. .. 48 6 4 Balance carried down .. .. .. .. 918 7 0 £966 13 4 £966 13 4 £ s. d. £ s. d. Balance brought forward from previous year .. 241. 19 3 Balance brought down .. .. .. .. 918 7 0 Amount due to Public Trustee in terms of section 22, Balance carried forward.. .. .. .. 241 12 9 New Zealand University Amendment Act, 1914 .. 918 0 6 £1,159 19 9 £1,159 19 9 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Capital .. .. .. •• 19,343 16 8 Endowment lands — £ s. d. Public Trustee: Amount not yet paid over .. 458 16 4 Leased .. .. .. 19,331 6 8 Rents due but not accrued .. .. .. 242 0 0 Unleased .. .. .. 12 10 0 19,343 16 8 Revenue Account: Balance carried forward .. 241 12 9 Sundry debtors for rent .. .. .. 0 7 3 Cashin Treasury Deposit Account at 31st March, 1938 458 16 4 £20,044 13 0 £20,044 13 0 W. Robertson, Under-Secretary for Lands. Wm. E. Shaw, Chief Accountant. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— J. H. Fowler, Controller and Auditor-General.

s—B. 1 [PT. IV].

33

B.—l [PT. TV].

LEGISLATIVE DEPARTMENT. Income and Expenditure Account for the Year ended 31st March, 1938. Expenditure. £ s. d. Salaries .. .. .. .. .. 34,732 5 6 Income. £ s. d. Fuel, light, &c. .. .. .. .. 2,290 11 2 Sale of " Index to Laws of New Zealand" .. 14 4 Laundry .. .. .. .. .. 224 8 6 Sale of typewriters .. .. .. .. 10 11 0 Maintenance of grounds .. .. .. 1,395 7 4 Excess of expenditure over income carried down 184,598 9 7 Tools and implements .. . . .. 10 12 3 Newspapers ~ .. .. ■. .. 248 11 4 Postages and telegrams .. .. .. 3,054 13 3 Printing and stationery .. .. .. 12,690 4 3 Maintenance and repairs : Furniture and fittings 355 7 7 Postage-stamps supplied to members .. .. 2,199 0 0 Statistical publications supplied to members .. 382 12 0 Honoraria and allowances to members .. .. 45,585 3 8 Telephone concessions to members .. .. 1, 109 19 9 Cleaning .. .. .. .. .■ 3,033 17 11 Railway concessions and travelling - expenses of members .. .. .. .. .. 29,802 11 10 Winding clocks, contingencies, &c. .. .. 226 4 9 Newspapers, &e. : Library . . .. .. 203 5 3 Miscellaneous stores .. . .. .. 228 14 5 Uniforms .. .. .. . . . . 90 5 3 Cleaning and repairs to uniforms .. . . 112 13 6 Telephones .. .. .. . . .. 601 2 10 ' Rent .. .. .. .. .. 28,117 0 0 Repairs to typewriters .. .. .. 21 12 9 Depreciation on furniture, fittings, Library, &c. .. 8,378 3 1 Grant to widow of deceased officer .. . . 120 0 0 Bellamy's— £ s. d. Salaries . ■ . • • • 6,240 5 3 Printing and stationery .. 28 18 4 Maintenance of staff .. 577 11 0 Laundry .. .. .. 125 12 11 Cleaning .. .. .. 225 0 0 Fuel .. .. .. 670 0 0 Depreciation on furniture and fittings .. .. •. 154 10 10 Rent .. .. .. 1,000 0 0 Writings-off, Reserve Account 373 18 5 9,395 16 9 £184,610 4 11 £184,610 4 11 £ s. d. Excess of expenditure over income brought down 184,598 9 7 Excess of expenditure over income after charging £ s. d. Interest on capital— £ s., d. interest on capital .. .. .. 186,352 10 11 Legislative .. 1,661 15 9 Bellamy's .. .. 92 5 7 1,754 I 4 £186,352 10 11 £186,352 10 11 Balance-sheet as at 31st March, 1938. Liabilities. Assets. £ s. d. Capital— £ s. d. £ s. d. Bellamy's: Silverware, &c., Account .. .. 1,857 3 6 Legislative .. .. 39,426 11 2 Furniture and fittings— £ s. d. Bellamy's .. .. .. 2,239 17 0 Legislative .. .. .. 10,493 9 6 41,666 8 2 Bellamy's .. .. .. 382 13 6 Creditors — 10,876 3 0 Departmental .. .. 448 5 1 Mechanical appliances . > . . .. 562 10 5 Sundry .. .. .. 291 4 8 General Assembly Library .. .. .. 24,619 3 11 — 739 9 9 Books of reference .. .. .. .. 3,751 7 4 Writings-off, Suspense .. .. .. 373 18 5 Stocks of statutes, appendices, and parliamentary Treasury Adjustment Account .. .. 188,220 19 2 papers .. .. .. .. .. 462 9 9 Stock of " Index to Laws of New Zealand " at Printing Office . . . . . . . . 201 18 9 Stationery m stock .. .. .. .. 229 17 0 Stamps .. .. .. .. .. 20 6 3 Consumable stores .. .. .. 154 3 8 Uniforms .. .. .. .. .. 150 7 7 Bellamy's : Linen, glassware, crockery, &c. . . 1,324 9 1 Gardeners' tools and implements .. .. 62 5 0 Assets in suspense .. .. .. .. 373 18 5 Debtors: Departmental . . .. .. 2 0 11 Balance of Income and Expenditure Account .. 186,352 10 11 £231,000 15 6 £231,000 15 6 T. D. H. Hall, Clerk of the House of Representatives. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV], —J. H. Fowler, Controller and Auditor-General.

34

B. —1 [PT. IV].

MAIN HIGHWAYS ACCOUNT. Income and Expenditure Account for the Year ended 31st March, 1938, and Total to Date.

35

j Total since Total since p ypuwhttttt) 1? .Total for Inception of Main fMPAH/ri? Total for Inception of Main UArJUNUiLUJUfi. I Year 1937-38. ! Highways Act, 1922, UNbOMiL. Year 1937-38. Highways Act, 1922, to 31/3/38. to 31/3/38. Net expenditure on construction and improvement of main highways — Highway District — £ s. d. £ s. d. Loans raised under Main Highways Act, 1922 — No. 1 .. .. .. .. .. .. .. 127,780 8 5 893,090 17 8 Stock and Debentures issued — £ s. d. £ a. d. No. 2 .. .. .. .. .. .. 409,083 1 9 1,493,192 14 6 At 3 per cent, interest .. .. .. .. 1,600,000 0 0 2,265,365 0 0 No. 3 .. .. .. .. .. 138,633 18 1 362,342 14 10 At 3| per cent, interest .. .. .. .. .. 76,800 0 0 686,305 0 0 No. 4 .. .. .. .. .. .. 40,415 0 3 493,039 15 10 At 3| per cent, interest .. .. .. .. .. .. 190,895 0 0 No. 5 .. .. .. .. .. .. .. 100,237 17 2 451,562 7 7 At 4 per cent, interest .. .. .. .. .. .. 1,295,185 0 0 No. 6 .. .. .. .. .. .. .. 57,119 15 0 444,407 19 9 At 4| per cent, interest .. .. .. .. .. .. 542,004 10 10 No. 7 .. .. .. .. .. .. .. 95,907 7 9 502,245 7 1 Securities redeemed, Loans Redemption Account .. .. .. 649,440 0 0 No. 8 .. .. .. .. .. .. 108,078 2 0 415,542 15 8 Consolidated Fund —Public Debt Repayment Account .. .. .. 55,720 0 0 No. 9 .. .. .. .. .. .. .. 145,883 11 4 846,717 4 1 \ No. 10 .. .. .. .. .. .. .. 47,406 16 2 329,343 19 9 1,676,800 0 0 5,684,914 10 10 Totals for North Island .. .. .. .. 1,270,545 17 11,6,231,485 16 9 No. 11 .. .. .. .. .. .. .. 154,209 16 9 424,358 13 9 Receipts under section 15, Finance Act, 1923, from Public Works Fund, .. 1,226,000 0 0 No. 12 .. .. .. .. .. .. .. 189,514 11 8 498,541 18 1 General Purposes Account (at 5 per cent, interest) .. No. 13 .. .. .. .. .. .. .. 15,680 16 2 194,824 10 8 No. 14 . . . . .. .. .. .. .. 98,048 0 1 534,548 13 7 Income from — No. 15 .. .. ,, .. .. .. .. 73,972 2 4 277,794 6 3 Motor-registration licenses, fees, and fines (section 24, Motor-vehicles No. 16 .. .. .. .. .. .. .. 119,470 1 1 428,799 3 6 Act,1924).. .. .. .. .. .. .. 556,479 8 5 5,064,959 16 9 No. 17 . . .. .. .. .. .. .. 100,384 17 6 514,209 9 11 Less Commission on collection by Post and Telegraph Department — No. 18 .. .. .. .. .. .. 158,501 6 1 449,116 16 0 £ s. d. Motor-registration fees and licenses .. .. 22,248 16 0 Totals for Dominion .. .. .. .. .. 2,180,327 9 7 9,553,679 8 6 Fees for registration of change of ownership .. 10,377 10 6 32,626 6 6 262,596 1 4 Net expenditure on renewals of main highways :— 523,853 1 11 4,802,363 15 5 Highway District — No. 1 .. .. .. .. .. .. .. 14,540 18 4 20,466 5 11 Interest from investments .. .. .. .. .. .. .. 216,452 4 2 No. 2 .. .. .. .. .. .. .. 30,721 17 11 51,790 12 1 Interest from local authorities on plant purchased on their behalf .. 1,927 14 11 24,402 1 10 No. 3 .. .. .. .. .. .. .. 3,261 12 1 8,650 2 6 Interest on advances to local authorities .. .. .. .. 3,574 7 10 30,068 13 7 No. 4 .. .. .. .. .. .. 24,837 12 1 33,616 18 4 Mileage Tax (Finance Act, 1931-32 (No. 2), section 19) .. .. 6,161 13 1 13,484 16 9 No. 5 .. .. .. .. .. .. .. 4,219 0 8 15,590 5 4 Miscellaneous receipts .. .. .. .. .. .. 524 11 6 2,263 8 2 No. 6 .. .. .. .. .. .. 4,086 6 9 5,959 0 5 Motor-spirits tax (section 9, Motor-spirits Taxation Act, 1927) .. .. 1,918,485 17 9 11,534,708 2 7 No. 7 .. .. .. .. .. .. .. 3,114 11 2 12,249 19 0 Tire-tax (sections 13 and 14, Main Highways Act, 1922) .. .. 158,526 7 2 2,218,662 11 4 No. 8 .. .. .. .. .. 2,778 6 7 3,159 18 5 Transfer from Consolidated Fund (section 14, Main Highways Act, 1922) .. 210,000 0 0 No. 9 .. .. .. .. .. 4,058 7 6 5,489 1 5 Rent of and tolls from ferries .. .. .. .. .. .. 2,081 10 6 No. 10 .. .. .. .. .. .. .. 3,766 13 0 13,528 16 10 : _! Totals for North Island .. .. .. .. 95,385 6 1 170,501 0 3 No. 11 .. .. .. .. .. .. 1,420 16 7 2,549 6 10 No. 12 .. .. .. .. .. .. .. 31,756 2 7 55,203 13 9 No. 13 . . . . .. .. .. .. .. Cr. 627 10 10 192 6 4 No. 14 .. .. .. .. .. .. 1,635 0 4 2,166 8 7 No. 15 .. .. .. .. .. .. .. 11 16 8 No. 16 .. .. .. .. .. .. .. 985 2 9 3,577 14 4 No. 17 .. .. .. .. .. .. .. 1,739 18 0 3,248 19 10 No. 18 .. .. .. .. .. .. .. 5,978 15 9 7,226 1 3 Totals for Dominion . . .. .. .. .. 138,273 11 3 244,677 7 10* Carried forward .. .. .. .. .. .. 2,318,601 0 10 9,798,356 16 4 Carried forward .. .. .. .. .. 4,289,853 14 2 25,965,401 15 2 •Expenditure from 1/4/36 only. Previously included under maintenance, repairs, &c.

B.—l [PT. IV].

MAIN HIGHWAYS ACCOUNT— continued. Income and Expenditure Account for the Year ended 31st March, 1938, and Total to Date— continued.

36

j Total since j 1 Total since TTXPUTfriTTrTRTr i Total for Year | Inception of Main ] rNOn\rE Total for Year j Inception of Main EXPENDITURE. j 1937-38. Highways Act, 1922, || mwiMJS. 1837-38. I Highways Act, 1922, to 31/3/38. || j to 31/3/38. £ s. d. : £ s. d. £ s. d. £ 8. d. Brought forward .. .. .. .. .. 2,318,601 0 10 9,798,356 16 4 \ Brought forward .. .. .. 4,289,853 14 2 25,963,401 15 2 Net expenditure on maintenance, repairs, &c., of main highways :— j Highway District —• No. 1 .. .. .. .. .. .. .. 101,410 17 8 749,11118 9 No. 2 .. .. .. .. .. .. 137,496 9 0 1,319,542 0 7 No. 3 .. .. .. .. .. .. .. 89,117 0 5 611,996 5 10 No. 4 .. .. .. .. .. .. .. 79,048 17 7 494,523 11 5 No. 5 .. .. .. .. .. .. .. 63,618 17 2 738,544 5 8 No. 6 .. .. .. .. .. .. .. 51,082 17 0 507,884 18 7 No. 7 .. .. .. .. .. .. 40,587 18 9 528,599 13 5 No. 8 .. .. .. .. .. .. .. 71,758 16 4 501,620 0 9 No. 9 .. .. .. .. .. .. .. 44,718 1 10 639,884 12 9 No. 10 .. . . .. .. .. .. .. 35,041 17 1 545,266 0 1 j Totals for North Island .. .. .. .. 713,881 12 10 6,636,973 7 10 No. 11 . .. .. .. .. .. .. 61,466 10 10 559,955 1 6 No. 12 .. .. .. .. .. .. .. 73,406 12 1 951,264 4 3 No. 13 .. .. .. .. .. .. .. 26,983 12 8 247,275 7 7 No. 14 .. .. .. .. .. .. .. 39,880 10 0 401,858 1 7 No. 15 .. .. .. .. .. .. .. 36,122 10 4 486,273 8 9 No. 16 .. .. .. .. 37,807 5 1 336,966 9 2 No. 17 .. .. .. .. .. 32,044 3 3 331,790 19 3 No. 18 .. .. .. .. .. .. 52,518 14 2 398,249 4 1 Totals for Dominion .. .. .. .. 1,074,111 11 3 10,350,606 4 0 Total expenditure by Highways Districts .. .. 3,392,712 12 1 20,148,963 0 4 Administration — • Administration expenses (including salaries, travellingexpenses, office rents, printing, stationery, postages, and £ s. d. miscellaneous expenses) .. .. .. .. 148,868 55 .. 629,355 5 8 Fees and travelling - expenses of members of the main Highways Board other than Government members .. 1,406 6 2 .. 17,128 1 2 \ Miscellaneous expenses — Advertising, maps, rent of halls, traffic tallies, transport of samples, depreciation of furniture, &c. .. .. 198 7 9 .. 5,717 10 9 Compassionate grants to widows and relatives of deceased employees .. .. .. .. 4,000 0 0 .. 4,000 0 0 Compensation under section 3, Public Works Amendment Act, 1925 .. .. .. .. .. .. 1,015 1 6 Exchange on remittances .. .. .. .. 1,602 18 11 .. 6,269 15 0 Grant to Transport Department towards Traffic inspection .. .. .. .. .. 17,906 0 5 .. 17,906 0 5 Petrological laboratory and other experimental work, Expenses of .. .. .. .. .. 1,330 5 9 .. 10,683 0 2 Total administration .. .. .. 175,312 4 5 692,074 14 8 Carried forward . . .. .. 3,568,024 16 6 20,841,037 15 0 Carried forward .. .. .. .. .. 4,289,853 14 2 25,965,401 15 2

B.—l [PT. IV].

MAIN HIGHWAYS ACCOUNT— continued. Income and Expenditure Account for the Year ended 31st March, 1938, and Total to Date— continued.

37

Total since . Total since FXPFunTTnuT? Total for Inception of Mam IHCOME .l!! 1 ,. InMptiim oi Mn EXPENDITURE. Year 1937-38. Highways Act, 1922, 1JNGOML. Year 1937-38. Highways Act, 1922, to 31/3/38. t0 31/3/38. £ s. d. £ s. d. £ s. d. £, s. d. Brought forward .. .. ., .. .. 3,568,024 16 6 20,841,037 15 0 Brought forward .. . . ■. - • • • 4,289,853 14 2 25,965,401 15 2 Loan charges — £ s. d. Charges and expenses of raising loans, management charges of Consolidated Stock on account of Construction Fund, &c. .. .. .. .. .. .. 489 11 4 .. 68,971 3 9 Interest on amount appropriated out of Public Works Fund and paid into Main Highways Account Construction Fund .. .. .. .. .. .. 61,300 0 0 .. 490,400 0 0 Interest on loans, recoupment to Consolidated Fund (section 4, Finance Act, 1919) .. .. .. 150,758 12 5 .. 1,111,300 4 9 Transfer to reserve for redemption of main highway securities .. .. .. .. .. 99,992 0 0 .. 693,194 0 0* Payment to local authorities in commutation of toll-gate charges (Finance Act, 1925, section 20) .. .. 1,451 18 4 .. 27,204 5 9 Payment to Wellington City Council in commutation of fees chargeable in respect of motor-vehicles using Hutt Road (Finance Act, 1927 (No. 2), section 33) .. 24,501 11 7 .. 230,586 7 5 Total loan charges .. .. .. — 338,493 13 8 2,621,656 1 8 Subsidies, &e., in respect of other than main highways — Municipal Corporations (Municipal Corporations Act, 1933, section 71) .. .. .. .. .. 31,330 9 2 .. 210,481 6 3 County Councils and other local authorities (Finance Act, 1930, section 37) .. .. .. .. 175,214 15 3 .. 1,306,641 18 10 Subsidies to County Councils for rebate to ratepayers (Finance Act (No. 4), 1931, section 45) .. .. .. .. 253,892 12 1 Subsidy on rates levied on farming land (Finance Act (No. 3), 1934, section 28) .. .. .. &. 17 8 6 .. 364,583 19 9 Maintenance and construction of roads giving access to outlying areas (Finance Act (No. 3), 1931) .. .. .. .. 45,918 8 8 Total subsidies .. .. .. .. 206,527 15 11 2,181,518 5 7 4,113,046 6 1 25,644,212 2 3 Balance, being excess of income over expenditure, carried to general balance-sheet.. .. .. .. .. .. .. 176,807 8 1 321,189 12 11 4,289,853 14 2 25,965,401 15 2 4,289,853 14 2 25,965,401 15 2 * Excludes £60,408 10s. 7d. interest credited. Note. —No charge for the cost of exchange on interest payments made in London is included in the accounts.

B.—l [PT. IV].

MAIN HIGHWAYS ACCOUNT— continued. General Balance-sheet as at 31st March, 1938.

J. W. Scott, A.R.A.N.Z., Chief Accountant, Public Works Department. J. Wood, Chairman, Main Highways Board. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the departmental notes enfaced thereon.— J. H. Fowler, Controller and Auditor-General.

38

LIABILITIES. Total. ASSETS. Total. ___ |_ | £ s. d. £ s. d. Cash in Public Account — £ s. d. £ s. d. Excess of income over expenditure for 1937-38 .. .. .. .. 176,807 8 1 At call .. .. .. .. .. .. .. .. .. 02 265 9 5 Add Balance at 31/3/37 .. .. .. .. .. .. 144,382 4 10 Sundry debtors — 321,189 12 11 Public Works Department .. .. .. .. .. .. 6,237 15 5 Other Government Departments .. .. .. .. .. 12,675 10 9 Sundry creditors — Non-departmental .. .. .. .. .. .. 8,543 7 2 Public Works Department .. .. .. .. .. 27,604 9 1 27 456 13 4 Other Government Departments .. .. .. .. .. 7,476 6 2 Advances to local authorities (Main Highways Amendment Act, 1926, Non-departmental .. .. .. .. .. .. 281,054 6 0 | section 2) .. .. .. .. .. .. .. .. 103 932 7 8 1 316,135 1 3 Advance on subsidies (Finance Act, 1930, sections 37 and 39, and Finance Act, Interest accrued on loans .. .. .. .. .. .. .. i 37,675 10 9 1932, section 36) Reserves for redemption of securities .. .. .. .. .. 104,162 10 7 Motor-registration fee in hands of Postal Department .. .. .. .. 2 013 7 8 Writings-off in Suspense .. .. .. .. .. .. .. 2,871 0 1 Interest due and accrued .. .. .. .. .. .. .. 2'997 2 4 Buildings .. .. .. .. .. .. .. .. .. 13)727 12 7 Stocks of materials, tools, &c. .. .. .. .. .. ,. 182 751 19 9 Furniture, fittings, &c. — Expenditure to 31/3/38 .. .. .. .. .. .. 469 13 11 i Less depreciation to 31/3/38 . . .. .. .. .. 61 0 11 408 13 0 Plant and equipment —• For Main Highways Board — Expenditure to 31/3/38 .. .. .. .. .. .. 341,671 12 6 Less depreciation charged to works .. .. .. .. 105,751 8 5 ■ j 235,920 4 1 Purchased for local authorities — Expenditure to 31/3/38 .. .. .. .. .. .. 241,332 16 0 Less repayments of principal .. .. .. .. .. 197,806 0 11 „ , . i 43,526 15 1 Amount transferred to Loans Redemption Account .. .. .. 753 602 10 7 Less amount utilized for redemption of securities . . .. 649 440 0 0 0 , , „ . 104,162 10 7 stocks Deficits Account .. .. .. ,. .. .. _ 2,871 0 1 782,033 15 7 ! 782,033 15 7 Notes. —-(a) No liability is included for interest on loans redeemed out of Public Debt Repayment Account. (b) The two accounts, previously known as " Construction " and " Revenue," were amalgamated as from 1st April, 1936, and the account is now termed the "Main Highways Account," in accordance with section 3, Finance Act (No. 2), 1935.

B.—l [PT. IV].

NATIONAL BROADCASTING SERVICE. Revenue Account for the Year ended 31st March, 1938. Expenditure. Incom,e. Expenditure on programmes, including salaries £ s. d. £ s. d. £ s. d. of programme staff .. .. .. 109,525 16 6 License fees .. .. .. 313,715 19 11 Maintenance of plant, including salaries of engi- Less license fees paid in advance 5,693 2 11 neering and operating staffs .. .. 34,458 5 0 308,022 17 0 General administrative and running expenses, Interest .. .. .. ~ .. 3,215 19 9 including salaries of administrative and clerical Rents .. .. .. .. .. 57S 5 4 staffs .. .. .. .. .. 28,548 9 9 Subsidies to "B " stations .. .. .. 1,333 13 4 Payments to stations operated under contract .. 2,718 4 10 Contribution to Public Service Superannuation Fund .......... 402 3 5 Contribution to Radio Research Committee .. 682 6 5 Depreciation of assets .. .. .. 34,766 2 0 Balance, transferred to Accumulated Fund .. 99,382 0 10 £311,817 2 1 £311,817 2 1 Balance-sheet as at 31st March, 1938. Liabilities. Assets. £ s. d. I. Accumulated Fund — £ s. d. £ s. d. I. Land and buildings .. .. .. 141,805 14 11 Balance on Ist April, 1937 342,234 15 4 11. Machinery and plant .. .. .. 85,927 3 1 Transfer from Revenue 111. Office and studio equipment .. .. 15,329 211 Account .. .. 99,382 010 IV. "B " station purchases .. .. 18,081 19 1 441,616 16 2 V. Work in progress .. .. .. 1,163 13 10 11. License fees paid in advance .. 5,693 2 11 VI. Sundry debtors and pre111. Sundry creditors— payments — Departmental .. .. 1,947 19 5 Post and Telegraph De- £ s. d. Sundry .. .. 4,990 811 ment (license fees) .. 1,232 3 9 ——— 6,938 8 4 National Commercial Broadcasting Service (interest and refund of copyright payments) .. 4,243 17 4 Other .. .. 48 7 6 5,524 8 7 VII. Temporary investment .. 75,000 0 0 Accrued interest thereon 781 5 0 75,781 5 0 VIII. National Commercial Broadcasting Service : Net Advances .. .. .. 80,269 19 6 IX. Cash in bank— Broadcasting Account .. 29,043 15 7 Broadcasting Imprest Account .. .. 1,321 4 11 30,365 0 6 £454,248 7 5 £454,248 7 5 James Shelley, Director of Broadcasting. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —J. H, Fowler, Controller and Auditor-General.

39

B.—l [PT. IV].

NATIONAL COMMERCIAL BROADCASTING SERVICE. Income and Expenditure Account foe the Year ended 31st March, 1938. Expenditure. £ s. d. £ s. d. Income. £ s. d. Expenditure on programmes, in- Sales of station time .. .. .. 98,418128 eluding payments to artists, Miscellaneous .. .. .. .. 7210 hire of special recordings, relay Balance carried down .. .. .. 7,386 17 5 lines, and sundry miscellaneous items .. .. .. 13,260 5 3 Less sundry programme charges borne by advertisers .. 3,214 13 3 10,045 12 0 Copyright .. .. .. .. .. 2,806 12 7 General administrative and running expenses, including rents, rates and insurance, lighting, heating and power, legal and audit, printing and stationery, salaries and wages, telephone services, repairs and maintenance of buildings, plant and office and studio equipment, advertising, commission and sundry miscellaneous items .. 85,405 11 0 Interest .. .. .. .. .. 1,497 4 9 Depreciation . . .. .. .. 5,482 10 1 Reserve for bad debts .. .. .. 575 2 6 £105,812 12 11 £105,812 12 11 £ s. d. £ a . d. Balance brought down .. .. .. 7,386 17 5 Balance .. .. .. .. .. £11,953 11 2 Balance brought forward from previous year .. 4,566 13 9 £11,953 11 2 £11,953 11 2 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. £ s. d. Assets. £ s. d. £ s. d. Advances from Broadcasting Land and buildings .. .. 3,777 15 0 Account .. .. .. 80,269 19 6 Machinery and plant .. .. 31,299 11 10 Add acorued interest .. .. 1,497 4 9 Office and studio equipment, in- — 81,767 4 3 eluding furniture, typewriters, Creditors — office mechanical appliances, and Sundry .. .. .. 2,441 510 library .. .. .. 23,126 11 2 Departmental .. .. 4,175 17 2 Purchase of Station IZB, Auckland 1,898 16 5 Public Works Department .. 15,649 19 6 Commission .. .. .. 3,604 2 9 60,102 14 5 25,871 5 3 Less depreciation reserve .. 4,202 14 4 Writings-off, Reserve .. .. .. 38 16 8 55,900 0 1 Records, blocks (advertising), music, photographs, and script.. .. 4,734 5 3 Leasehold, Station IZB .. .. 51 15 0 Highcliffe relay installation .. .. 500 0 0 Stock of spares, machinery, and plant .. 3,205 15 5 £ s. d. Departmental debtors 27 3 4 Sundry debtors .. 30,727 4 6 30,754 7 10 Less reserve for bad debts .. 900 0 0 29,854 7 10 Deposit (Customs duty) .. .. 10 0 Payments in advance .. .. .. 5 0 0 Bank .. .. .. .. 1,432 14 9 Writings-off, Suspense .. .. .. 38 16 8 Income and Expenditure Account— Balance, 31st March, 1937 .. 4,566 13 9 Add excess of expenditure over income for year ended 31st March, 1938 .. .. 7,386 17 5 11,953 11 2 £107,677 6 2 £107,677 6 2 C. G. Scrimgeour, Controller. W. J. Crowther, Business Manager. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—J. H. Fowler, Controller and Auditor-General.

40

B.—l [PT. IV],

NATIONAL PROVIDENT FUND. Revenue Account for the Year ended 31st December, 1937. Amount of Fund at beginning of year (Ist £ s. d. National Provident Fund Act, 1926— £ s. d. January, 1937) .. .. .. .. 4,649,082 1 3 Maternity claims (section 19) .. .. 4,662 0 0 National Provident Fund Act, 1926 — Maternity claims (section 43) .. .. 32,956 0 0 Contributions .. .. .. .. 266,431 2 5 Refund of contributions on lapse, reduction, Interest .. .. .. -. 185,015 10 4 and withdrawal (sections 11, 12, and 13) .. 70,747 14 3 Fines (section 11 (4)) .. .. .. 458 1 3 Refund of contributions in lieu of annuity Government contribution under Act (sec- (section 14) .. .. .. .. 4,113 19 4 tions 52 and 74 (2)) .. .. .. 66,207 2 6 Incapacity allowances (sections 17 and 18), Refund of maternity claims by the State including contributions waived on incapacity (sections 42 (2) and 70) .. 46,024 0 0 (£1,610 4s. 7d.) .. .. .. 10,510 12 6 Contributions overpaid on exit .. .. 41 18 11 Death : Refund of contributions (sections Benefits refunded on exit (sections 11 to 16 15 (5) and 16) .. .. .. 32,284 19 5 and 28) .. .. .. .. 16,027 1 1 Death: Allowances on account of widows Miscellaneous receipts .. .. .. 0 13 11 and children (section 15) .. .. 12,498 5 11 Refunds unclaimed .. .. .. 3,214 12 2 Annuities (sections 13 and 48) .. .. 66,369 14 2 Refund of contributions overpaid on exit .. 41 18 11 Public Trustee : Charges .. .. .. 2,650 8 3 Legal expenses .. .. .. .. 177 7 2 Investment Fluctuation Account .. .. 2,902 5 6 Amount of Fund at end of year (31st December, 1937) .. .. .. .. 4,992,586 18 5 £5,232,502 3 10 £5,232,502 3 10 Balance-sheet as at 31st December, 1937. Liabilities. £ s. d. Assets. Fund as per Revenue Account .. .. 4,992,586 18 5 In hands of Public Trustee — £ s. d. National Provident Fund Act, 1926 — Invested .. .. .. .. 4,881,845 12 5 Claims due and in course of payment*— Uninvested .. .. .. .. 11,499 0 3 Maternity (sections 19 and 43) .. .. 2,667 14 5 Post Office .. .. .. .. 2,174 18 7 Death: Refunds (section 16) .. .. 3,342 4 10 Balances in transit .. .. .. 8,796 9 5 Death: Refunds (section 15 (5)) .. 767 11 8 National Provident Fund Act, 1926— Death: Allowances (section 15) .. 424 5 3 Contributions outstanding or in course of Annuities (sections 13 and 48) .. .. 2,423 1 6 transmission* — Allowances (section 17) .. .. 352 15 3 (a) Contributions due but not overdue .. 11,254 10 1 Refunds of contributions in lieu of annuity (b) Contributions overdue .. .. 1,421 8 11 (section 14) .. .. .. 421 16 6 Government subsidy due under Act* (sections 52 Public Trustee: Charges*.. .. .. 1,210 17 5 and 74 (2)) .'. .. .. .. 66,207 2 6 Refunds in Suspense .. .. .. 39,573 9 9 Refund due in respect of maternity claims* Suspense Account .. .. .. 206 5 0 (sections 42 (2) and 70) .. .. .. 3,010 0 0 Contributions prepaid .. .. .. 10,224 18 7 Fines due* (section 11 (4)) .. .. 88 17 9 Interest due* .. .. .. .. 11,284 19 0 Interest accrued but not due* .. .. 56,618 19 8 £5,054,201 18 7 £5,054,201 18 7

♦ Included in Revenue Account.

R. Sinel, Superintendent. R. M. Porteous, A.R.A.N.Z., Accountant. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— Cyril G. Collins, Deputy Controller and Auditor-General.

6—B. 1 [PT. IV

41

B.—l [PT. IV].

NATIONAL PROVIDENT FUND AND FRIENDLY SOCIETIES DEPARTMENT. NATIONAL PROVIDENT FUND DEPARTMENT. Income and Expenditure Account for the Year ended 31st March, 1938. Dr. Cr. £ a. d. Administration charges— £ s. d. £ s. d. Recoveries .. .. .. .. .. 776 Salaries .. .. .. 10,809 5 7 Balance carried down .. .. .. 120,179 3 0 Audit .. .. .. 175 0 0 Fees for certificates of birth, &c. 50 0 0 Rent .. .. .. 847 10 0 Commission, allowances, and agency expenses .. .. 5,611 6 4 Postages, telegrams, &c. .. 270 19 2 Telephone services .. .. 132 0 3 Post and Telegraph Department : Services .. .. 667 9 0 Travelling allowances and expenses .. .. .. 247 1 2 Printing and stationery .. 434 5 8 Fuel, light, power, and water .. 76 6 5 Office maintenance .. .. 131 9 4 19,452 12 11 Other items— Maternity claims .. .. 38,854 0 0 State subsidy .. .. 61,624 6 10 Depreciation .. .. 255 10 9 —— 100,733 17 7 £120,186 10 6 £120,186 10 6 £ s. d. £ s. d. Balance brought down .. .. .. 120,179 3 0 Excess of expenditure over income .. .. 120,213 10 7 Interest on capital .. .. . . .. 34 7 7 £120,213 10 7 £120,213 10 7 FRIENDLY SOCIETIES DEPARTMENT. Income and Expenditure Account for the Year ended 31st March, 1938. Dr. Gr. £ s. d. Administration charges— £ s. d. £ s. d. Sundry fees .. .. .. ~ .. 212 0 Salaries .. .. .. 3,383 18 9 Sundry recoveries .. .. .. .. 45 0 0 Postages and telegrams .. .. 64 11 11 Balance carried down .. .. .. .. 3,972 6 9 Printing and stationery .. 133 3 3 Rent .. .. .. .. 201 16 11 Telephone services .. .. 35 2 8 Travelling allowances and expenses 58 13 0 Fuel, light, power, and water .. 11 12 9 Office maintenance .. .. 18 14 43,907 13 7 Other items: Depreciation .. .. .. 112 5 2 £4,019 18 9 £4,019 18 9 £ s. d. £ s. d. Balance brought down .. .. .. 3,972 6 9 Excess of expenditure over income .. .. 3,994 11 9 Interest on capital .. .. .. .. 22 5 0 £3,994 11 9 £3,994 11 9 NATIONAL PROVIDENT AND FRIENDLY SOCIETIES DEPARTMENT. Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Capital Account .. .. .. .. 1,809 9 1 Office furniture and fittings .. .. .. 296 2 9 Creditors— Mechanical appliances .. .. .. 1,513 6 4 Departmental .. .. .. .. 74 19 8 Stationery .. .. .. .. .. 329 18 I! Sundry .. .. .. .. .. 3,416 1 2 Stamps .. .. .. .. .. 13 15 0 Treasury Adjustment Account .. .. 121,060 14 9 Excess of expenditure over income— National Provident Fund £ s. d. Department .. .. 120,213 10 7 Friendly Societies Department 3,994 11 9 : 124,208 2 4 £126,361 4 8 £126,361 4 8 R. Sinel, Superintendent, R. M. Porteous, Accountant, National Provident and Friendly Societies Department. I hereby certify that the Income and Expenditure Accounts and Balance - sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV]. —Cyril G. Collins, Deputy Controller and Auditor-General.

42

B.—l [PT. IV].

PRIME MINISTER'S DEPARTMENT. * Income and Expenditure Account for the Year ended 31st March, 1938. Expenditure. £ s. d. Income. £ s. d. Salaries .. .. .. .. .. 8,558 710 Balance carried down .. .. .. 24,176 15 5 League of Nations : New Zealand expenses 13,544 6 1 Postage and telegrams .. .. .. 120 11 6 Printing and stationery .. .. .. 494 19 8 Rent of offices .. .. .. .. t>Bs 0 0 Telephone services .. .. .. .. 346 16 10 Depreciation— £ s. d. Furniture and fittings .. 184 16 10 Mechanical appliances .. .. 17 310 Library .. .. ..35113 237 11 11 Sundries .. .. .. .. .. 189 1 7 £24,176 15 5 £24,176 15 5 £ s. d. £ s. d. Balance brought down .. .. .. 24,176 15 5 Balance carried to balance-sheet .. .. 24,233 8 2 Interest on capital .. .. .. .. 56 12 9 £24,233 8 2 £24,233 8 2 Balance-sheet as at 31st March, 1938. Liabilities. Assets. £ s. d. Fixed capital at 31st March, 1938 : Consolidated £ s. d. Furniture and fittings .. .. .. 908 13 7 Fund .. .. .. .. .. 1,431 14 4 Mechanicalapplianc.es .. .. .. 167 8 3 Creditors— £ s. d. Library .. .. .. .... 355 12 6 Departmental .. .. .. 113 0 Excess of expenditure over income .. .. 24,233 8 2 Sundry ...... 100 18 11 102 11 11 Treasury Adjustment Account .. .. 24,130 16 3 £25,665 2 6 £25,665 2 6 C. A. Berendsen, Permanent Head. F. B. Dwyer, Accountant. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV], —J. H. Fowler, Controller and Auditor-General.

43

B.—l [PT. IV].

PRINTING AND STATIONERY DEPARTMENT. Trading Account foe the Year ended 31st March, 1938. Dr. £ s. d. £ s. d. Gr. Paper and materials— Sales — £ s. d. £ s. d Stock at beginning .. .. 36,892 3 6 Manufacturing .. .. 225,611 9 2 Add purchases .. .. 75,680 9 2 Less work in progress, 31st March, 1937 .. .. 13,547 7 4 112,572 12 8 Less stock on hand, 31st March, 212,064 1 10 1938 .. .. .. 54,071 1 5 Add work in progress, 31st — 58,501 11 3 March, 1938 .. .. 12,700 0 7 Stationery— Stock at beginning .. .. 9,290 010 224,764 2 5 Add purchases .. .. 52,367 8 11 Stationery .. .. .. 58,071 17 5 — Publications .. .. 6,664 17 11 61,657 9 9 Typewriters .. .. 14,647 11 8 Less stock on hand, 31st March, — 304,148 9 5 1938 .. .. .. 16,473 2 11 Discounts received .. .. .. 432 8 7 — 45,184 6 10 Publications — Stock at beginning .. .. 12,433 111 Add purchases .. .. 2,450 4 8 14,883 6 7 Less stock on hand, 31st March, 1938 .. .. .. 10,670 11 1 4,212 15 6 Typewriters — Stock at beginning .. .. 1,537 511 Add purchases .. .. 11,796 10 5 13,333 16 4 Less stock on hand, 31st March, 1938 .. .. .. 80 10 5 13,253 5 11 Wages (productive) .. .. 91,087 18 1 Wages (establishment) .. .. 27,104 1 4 Wages (Stationery Office) .. 8,748 10 0 Freight (inward) .. .. 10,749 2 9 Lighting (proportion) .. .. 591 1 0 Power .. .. .. 692 1 1 Fuel .. .. .. 702 8 3 Water .. .. .. 173 6 0 139,848 8 6 Balance, transferred to Profit and Loss Account 43,580 10 0 £.304,580 18 0 £304,580 18 0 Profit and Loss Account for the Year ended 31st March, 1938. Gr. £ s. d. Dr. £ s. d. Balance transferred from Trading Account .. 43,580 10 0 Office salaries .. '.. .. .. 7,506 810 Storing and handling stationery, &c., for other Repairs and alterations to buildings and plant .. 1,106 4 6 Government Departments .. .. .. 1,423 13 0 Postages and telegrams .. .. .. 1,080 6 7 Commission on sales of publications .. .. 1,131 12 2 Freight and cartage (outward) .. .. 3,108 3 2 Rent receivable .. .. .. .. 283 9 6 Insurance .. .. .. .. .. 302 0 1 Exchange .. .. .. .. .. 95 18 3 Discounts allowed .. .. .. .. 83 10 2 Telephones (rental) .. .. .. .. 109 7 10 Medical services .. .. .. .. 34 0 1 Lighting, &c. (proportion) .. .. .. 65 13 5 Proportion of rent, &c., High Commissioner's Office 320 0 0 Office expenses .. .. .. .. 420 10 0 Sundry trade expenses .. .. .. 359 5 3 Audit fee .. .. .. .. .. 150 0 0 Wages—Cleaners, watchmen, &c. .. .. 1,601 11 0 Interest on capital .. .. .. .. 9,770 15 0 Depreciation— £ s. d. Buildings .. .. .. 1,011 15 10 Plant and machinery .. ..6,310 8 8 Furniture, fittings, and office equipment .. .. .. 94 9 3 Type and type metal .. .. 94 7 0 Accessories .. .. .. 471 1 8 7,982 2 5 Rent of storage space .. .. .. 259 3 10 Grant in lieu of leave of absence .. .. 27 18 4 Balance carried down .. .. .. 12,036 511 £46,419 4 8 £46,419 4 8 £ s. d. Balance brought down .. .. .. 12,036 511

44

B.—l [Pt. IV],

PRINTING AND STATIONERY DEPARTMENT —continued. Balance-sheet as at 31st March, 1938. Liabilities. Assets. £ s. d. Capital Account— £ s. d. £ s. d. Land .. .. .. .. 54,359 0 0 Public Works Fund .. 112,623 6 0 Buildings .. .. .. .. 37,015 13 7 Consolidated Fund .. .. 131,645 9 7 Plant and machinery— £ s. d. 244,268 15 7 Composing plant .. .. 978 11 2 Creditors — Machine-composing plant .. 10,117 13 8 Departmental .. .. 2,211 10 6 Addressograph plant .. .. 138 18 0 Sundry .. .. .. 9,425 18 8 Printing plant .. .. 15,356 12 8 ■ 11,637 9 2 Binding plant .. .. 8,515 0 9 Wages accrued .. .. .. .. 2,392 6 5 Litho plant .. .. .. 2,020 19 8 Bad Debts Reserve .. .. .. .. 163 18 6 Photo plant .. .. .. 1,420 16 7 Writing-off Suspense Account.. .. .. 2,376 19 9 Stereotype plant .. .. 1,003 611 Treasury Adjustment Account .. .. 7,070 18 0 Engine-room plant .. .. 538 11 9 Balance, Profit and Loss Account .. .. 12,036 511 Miscellaneous plant .. .. 5,998 6 3 : 46,088 17 5 Furniture, fittings, and office equipment .. .. .. .. 738 6 9 Type and type metal .. .. .. 11,912 1 6 Accessories — Composing Branch .. 2,277 4 9 Machine-composing Branch .. 59 8 2 Printing Branch .. .. 62 17 7 Binding Branch .. .. 346 4 11 Litho Branch .. .. 72 16 5 Photo Branch .. .. 48 10 5 Stereotype Branch .. .. 813 7 Engine-room .. .. 38 12 9 Paper Store .. .. .. 168 13 0 3,083 1 7 Payments in advance .. .. .. 27 13 6 Debtors— Departmental .. .. 24,960 0 3 Sundry .. .. .. 5,389 12 7 30,349 12 10 Work in progress .. .. .. 12,700 0 7 Stock— On hand .. .. .. 78,690 14 5 In transit .. .. .. 2,366 7 1 On consignment .. .. 238 4 4 — 81,295 5 10 Stock Suspense Account .. .. 2,254 12 4 Assets to be written ofi .. .. .. 122 7 5 £279,946 13 4 £279,946 13 4 A. W. Gyles, A.R.A.N.Z., Accountant. I hereby certify that the Receipts and Payments, Trading, and Profit and Loss Accounts, and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with Departmental Accounts generally as appearing at commencement of Parliamentary Return 8.-l [Pt. IV], and to the comment that the Asset " Type and type metal, £11,912 Is. 6d. " is not supported by stock-sheets. —J. H. Fowler, Controller and Auditor-General.

45

B.—l [Pt. IV],

PUBLIC SERVICE COMMISSIONERS' OFFICE. Income and Expenditure Account for the Year ended 31st March, 1938. Expenditure. £ s. d. Income. £ s. d. Permanent charges : Salaries .. . . .. 2,500 0 0 Examinations .. .. .. .. 735 3 1 Appropriations— £ s. d. Balance carried down .. .. .. 12,602 16 4 Salaries .. .. 8,320 1 2 Advertising .. .. .. 17 17 0 Office fittings and requisites .. 22 10 10 Printing and stationery .. 320 7 5 Postage and telegrams .. 169 4 0 Rent .. .. .. 459 16 10 Telephones .. .. .. 107 311 Travelling-expenses .. .. 841 19 11 Appeal Board .. .. 338 0 6 Overtime and meal allowances .. 118 3 10 Transfer and removal expenses .. 81 18 6 Sundry payments .. .. 5 4 2 — 10,802 8 1 Depreciation .. .. .. .. 35 11 4 £13,337 19 5 £13,337 19 5 £ s. d. £ s. d. Balance brought down .. .. .. 12,602 16 4 Excess of expenditure over income .. .. 12,615 2 6 Interest on oapital .. .. .. 1262 £12,615 2 6 £12,615 2 6 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Capital Account .. .. .. .. 281 14 6 Office furniture . . .. .. .. 281 14 6 Treasury Adjustment Account .. .. 12,561 14 4 Stationery on hand .. .. .. .. 50 10 0 Sundry creditors — Official stamps . . .. .. .. 14 3 9 Industries and Commerce, Tourist £ s. d. Excess of expenditure over income .. .. 12,615 2 6 and Publicity Department .. 38 I 6 Post and Telegraph Department 27 12 11 Other than Government Departments .. .. .. 52 7 6 118 1 11 £12,961 10 9 £12,961 10 9 S. T. Barnett, for Secretary, Public Service Commissioners. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts as appearing at commencement of parliamentary return 8.-l [Pt. IV]. —J. H. Fowler, Controller and Auditor-General.

46

B— 1 [Pt. IV].

PUBLIC SERVICE SUPERANNUATION FUND. Revenue Account for the Year ended 31st March, 1938. Dr. £ s. d. Cr. Amount of fund at beginning of year .. 2,997,898 9 0 Retiring-allowances— £ s. d. £ s. d. Members'contributions — To members .. .. 470,802 1 2 Under section 19 (ordinary) .. .. 344,136 8 5 To widows and children .. 44,241 12 0 Transferred from other Superannuation Funds 446 12 4 515,043 13 2 Interest on arrears of contributions . . 327 10 0 Contributions returned — Government subsidy— Under section 37 (left service) 35,385 16 2 Under section 50, Public £ s. d. Under section 42 (death) .. 16,672 13 9 Service Superannuation Under section 34 (retirement) 1,395 19 10 Act, 1927 .. .. 86,000 0 0 53,454 9 9 Under section 19, Finance Contributions transferred to other SuperannuaAct (No. 3), 1934 .. 41,097 610 tion Funds .. .. .. .. 245 3 5 Under section 9, Finance Investments written down by orders of the Act (No. 2), 1938 .. 27.000 0 0 Court, Mortgagors and Lessees Rehabilitation Under section 114, Public Act, 1936 .. .. .. .. 7,496 17 1 Service Superannuation Premium on stock: Proportion written off . . 370 17 11 Act, 1927 (widows and Unclaimed Recovery Account .. .. 87 19 4 children) .. .. 19,230 17 9 Expenses— " £s. d. Under section 27, Statutes Audit fees .. .. 75 0 0 Amendment Act, 1936 Contingencies .. .. 317 2 (Actuarial Pensions) . . 931 0 0 Election Board members, 174,259 4 7 triennial, expenses of .. 109 10 9 Interest on investments .. 125,214 18 7 Furniture and fittings .. 39 9 11 Less amounts written off by Heating, lighting, and cleanCourt orders—Mortgagors ing . . .. .. 89 8 8 and Lessees Rehabilitation Legal charges .. .. 347 12 1 Act, 1936, £5,769 13s. 7d.; Medical fees .. .. 98 18 0 also less amounts written Messenger service .. 42 0 0 off by the Board, section Postages and services .. 228 14 1 77, Mortgagors and Lessees Post and Telegraph DepartRehabilitation Act, 1936, ment charges .. .. 1,096 3 6 £342 10s. .. .. 6,112 3 7 Printing and stationery . . 140 18 3 Public Trustees's charges .. 2,344 9 7 119,102 15 0 Rent .. .. .. 144 0 0 Reimbursement by Treasury Salaries .. .. 2,747 18 4 on account reduction in Travelling-expenses (Board interest* .. .. 18,648 0 0 members) .. .. 25 9 8 — 137,750 15 0 Typewriters and other Subsidy, Cook Islands and Samoa .. .. 1,262 10 1 machines (upkeep) .. 9 910 Subsidy, Imperial War Graves Commission .. 22 10 0 7,542 19 10 Fines, fees, and sundries .. .. .. 283 19 0 Balance as at 31st March, 1938 .. .. 3,072,185 6 0 Stipendiary Magistrates' Account : Administration expenses recovered .. .. .. 39 8 1 £3,656,427 6 6 £3,656,427 6 6

* Payment by Treasury of amount of statutory reduction of interest on mortgage securities (National Expenditure Adjustment Act, 1932, Part III), £6,083 2s. lOd.; Interest-tax, Rural Advances bonds (section 6, Finance Act, 1932-33), £2,499; statutory reduction of interest, New Zealand Government inscribed stock (New Zealand Debt Conversion Act, 1932-33), £4,749 4s. 7d. ; statutory reduction of interest, local-body debentures (sections, Local Authorities Interest Reduction and Loans Conversion Act, 1932- 33), £5,316 12s. 7d.: total, £18,648.

47

B.—X IPT. IV.].

PUBLIC SERVICE SUPERANNUATION FUND —continued. Balance-sheet as at 31st Mabch, 1938. Liabilities. Assets. £ s. d. Superannuation Fund Account — £ s. d. £ s. d. Amount invested by the Board .. .. 2,912,313 12 7 Balance due from Revenue Contributions of members — £ s. d. Account .. .. 3,072,185 6 0 In course of transmission .. 35,760 10 4 Add value of office furniture, Due and outstanding .. 6,690 Oil fittings, and machinery .. 312 3 6 42,450 11 3 — 1 Interest on investments — 3,072,497 9 6 Accrued but not due ..27,896 8 11 Less amounts due to con- Due but not overdue .. 957 15 1 tributors under the pro- Due and outstanding ..30,172 2 7 visions of section 9 (2), 59,026 6 7 National Expenditure Subsidy — Adjustment Act, 1932 68,389 7 7 Cook Islands and Samoa .. 220 5 1 3,004,108 1 11 Imperial War Graves CommisRetiring and other allowances sion .. .. . . 5 12 6 due in course of payment — Section 114, Public Service To members .. .. 3,429 18 8 Superannuation Act, 1927 .. 1,882 17 3 To widows and children .. 465 2 0 —— 2,108 14 10 —— 3,895 0 8 Retiring-allowances recoverable Refunds of contributions due in (Pensions Department) .. .. 3 7 6 course of transmission — Cost-of-living bonus (recoverable) .. 214 12 8 Under section 37 (left service) 685 10 10 Rates, fees, and premiums paid on Under section 42 (death) .. 1,447 16 11 account mortgagors (recoverable) .. 819 10 7 Under section 34 (retirement) 487 13 10 Premium paid on purchase of —-—— 2,621 1 7 Government stock .. 4,699 0 6 Expenses due in course of Less amount written off .. 373 13 3 payment— 4,325 7 3 Heating, lighting, and clean- Q l() Cash in hand, Public Trustee ® jj Postages and services .. 17 11 8 —— 20,412 14 1 Post and Telegraph charges 121 2 0 Cash in bank .. .. .. .. 142,554 11 8 Printing and stationery . . 13 15 9 Office furniture, fittings, and Typewriters and other machinery .. .. .. .. 31236 machines (upkeep) .. 0 4 6 153 14 9 Contributions paid in advance or in error .. 560 12 11 Public Trustee's charges on accrued interest .. 1,783 14 7 Unclaimed Account (contributions, &c.) .. 419 15 9 Government subsidy (balance)* .. . . 64,500 0 0 Post Office Account .. .. .. 38,110 2 9 Amount due to contributors under the provisions of section 9 (2), National Expenditure Adjustment Act, 1932 .. .. .. 68,389 7 7 £3,184,541 12 6 £3,184,541 12 6

* The Government subsidy is paid in January of each year ; owing to the change in the date of the financial year, to show the true position of the fund it is necessary to state this item as a liability. t On deposit at call.

I hereby certify that the Revenue Account and Balance-sheet have been duly compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —J. H. Fowler, Controller and Auditor-General.

48

B.—l [PT. IV].

PUBLIC SERVICE SUPERANNUATION FUND—continued. Stipendiary Magistrates' Account. Revenue Account for the Year ended 31st March, 1935. Dr. £ s. d. Cr. £ s. d. Amount of fund, Ist April, 1937 .. .. 21,276 2 0 Retiring-allowances .. .. .. .. 5,118 13 4 Members' contributions: Section 63, Public Contributions returned: Section 63, Public Service Service Superannuation Act, 1927 .. .. 1,484 10 7 Superannuation Act, 1927 .. .. .. 1,292 13 5 Interest on investments .. .. .. 1,011 6 8 Investments written down by orders of the Court: Subsidy under section 9, Finance Act, (No. 2) 1938 5,000 0 0 Mortgagors and Lessees Rehabilitation Act, 1936 55 17 11 Premium on stock : Proportion written off .. 2 15 4 Administration expenses .. .. .. 39 8 1 Balance as at 31st March, 1938 .. .. 22,262 11 2 £28,771 19 3 £28,771 19 3 Balance-sheet as at 31st March, 1938. Liabilities. Assets. £ s. d. Stipendiary Magistrates' Account—t — £ s. d. £ s. d. Amount invested by the Board .. .. 22,338 16 6 Balance due from Revenue Account .. .. .. 22,262 11 2 Less amounts due to contributors under the provisions of section 10 (3), National Expenditure Adjustment Act, 1932 .. 471 5 11 21,791 5 3 Retiring-allowances due in course of payment .. 76 5 4 Amount due to contributors under the provisions of section 10 (3), National Expenditure Adjustment Act, 1932 .. .. .. .. 471 5 11 £22,338 16 6 £22,338 16 6 Subsidiary Account. Cost-of-living Bonus paid to Annuitants of the Public Service Superannuation Fund on behalf of the Treasury. Dr. £ s. d. Cr. £ s. d. Balance due from Treasury .. .. .. 214 2 6 Amount received from Treasury .. .. 2,683 18 10 Amount disbursed for period Ist April, 1937, to Balance due from Treasury .. .. .. 214 12 8 31st March, 1938 .. .. .. .. 2,684 9 0 £2,898 11 6 £2,898 11 6 R. S. Wogan, Secretary, M. P. Finnigan, Accountant, Public Service Superannuation Board. I hereby certify that the Revenue Account and Balance-sheet have been duly compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—J. H. Fowler, Controller and Auditor-General.

7—B. 1. [Pt. IV.

49

B.—l [PT. IV].

PUBLIC TRUST OFFICE. Profit and Loss Account for the Year ended 31st March, 1938. Dr. £ s. d. Or. £ s. d. Salaries .. .. .. .. 280,817 1 7 Commission, and other income (net). .. .. 384,649 5 3 Overtime . . . . .. .. 109 4 8 Income-tax: Refund of amount charged in Service charges— £ s. d. accounts to 31st March, 1937 .. .. 8,491 2 6 Agents' commission . . 3,875 4 3 Services of High Commissioner .. 1,246 0 0 Services of General Post Office .. 895 2 6 6,016 6 9 Audit of books and accounts .. .. 850 0 0 Maintenance of premises and plant: Repairs, insurance, &c. .. .. .. 11,455 14 0 Rent .. .. .. .. .. 2,436 6 2 General charges—• £ s. d. Advertising .. .. .. 4,014 12 8 Cleaning, lighting, heating, and power .. .. .. 5,916 3 8 Legal expenses .. .. 2,187 11 11 Rates .. .. .. 717 9 0 Miscellaneous payments .. 460 11 8 Postages and freight .. .. 4,244 3 6 Stamp duty on receipts and cheques .. .. .. 1,436 16 0 Telephone subscriptions .. 1,703 6 3 Printing, stationery, and requisites 5,636 12 9 Travelling-expenses .. .. 5,162 4 9 Salaries and expenses of Farm Inspectors .. .. .. 5,162 18 4 Salaries of Custodians and Staff 7,474 10 7 44,117 1 1 Amount written off under section 43, Public Trust Office Amendment Act, 1913 .. .. .. .. .. 63 8 9 Losses on mortgages : On realization or by operation of the Mortgagors and Lessees Rehabilitation Act, 1936 .. .. .. .. 9,878 7 8 Depreciation on office premises, furniture, plant, &c. 17,399 6 4 Contribution to subsidy to Public Service Superannuation Fund .. .. .. .. 3,728 16 9 Land-tax .. .. .. .. .. 3,303 19 6 Balance, being net profit for year, transferred to Appropriation Account .. .. 12,964 14 6 £393,140 7 9 £393,140 7 9 Profit and Loss Appropriation Account for the Year ended 31st March, 1938. Dr. £ s. d. Cr. £ s. d. Consolidated Fund: One-half profits for year ended Balance .. .. .. . . 10,946 5 9 31st March, 1937, payable in accordance with Profit and Loss Account: Balance transferred .. 12,964 14 6 section 24 (1) of the Finance Act, 1929 .. 10,946 5 9 Profit on sale of freehold property .. .. 18,477 8 3 Investment Fluctuation Account .. . . 24,959 15 6 Balance .. .. .. .. . . 6,482 7 3 £42,388 8 6 £42,388 8 6 £ s. d. Balance .. .. .. .. .. 6,482 7 3

50

B.—l [PT. IV].

PUBLIC TRUST OFFICE—-continued. Balance-sheet of the Public Trust Office as at 31st March, 1938. Liabilities. Assets. £ s. d. £ s. d. £ s. d. Amounts held in Common Freehold and leasehold premises and sites .. 384,805 4 11 Fund for sundry estates Furniture and plant, &c. .. .. .< 39,061 6 5 and funds ... .. 24,134,535 13 1 Stationery and stores, &c. .. .. 5,629 16 5 Amounts held for special Stocks, bonds, and debeninvestment on behalf of tures (book value) — £ s. d. certain funds, but not yet Government securities invested .. .. 51,002 12 3 (£4,430,470), plus preAmounts specially invested miums on purchase on behalf of certain estates (£11,230 15s. 3d.), less and funds .. .. 12,704,869 1 10 reserve for premiums 36,890,407 7 2 on conversion and disSundry creditors, including counts on purchase accounts passed for pay- (£4,569 15s. lOd.) .. 4,437,130 19 5 ment but not yet paid .. .. 148,986 17 6 Local bodies' debentures Reserve in respect of ex- (£6,776,412 lis.), less enemy property moneys.. 22,764 5 7 reserve for premiums Special reserve for securities 66,472 19 1 and discounts on conGeneral Legal Expenses version or purchase Account .. .. 7,806 9 6 (£206,880 4s. 7d.) .. 6,569,532 6 5 Investment Fluctuation 11,006,663 5 10 Account .. .. 96,933 16 8 Mortgages, &c. (book value) 11,980,360 17 8 — 193,977 10 10 Less reserve .. .. 108,772 10 4 Assurance and Reserve Fund .. 413,715 16 1 11,871,588 7 4 Profit and Loss Appropria- Advances for protection of tion Account .. .. .. 6,482 7 3 securities acquired or in possession, &c. .. .. 66,472 19 1 Properties acquired (book value) .. .. 206,536 10 0 Less reserve .. .. 9,415 18 8 197,120 11 4 Advances (on overdraft) to estates and accounts (book value) .. 610,044 12 6 Less reserve .. .. 2,788 8 5 607,256 4 1 Interest and rent accrued, due, and overdue— Interest accrued up to 31st March, 1938, but not yet due, and interest overdue .. .. 532,911 7 6 Rent due or accrued .. 579 15 4 533,491 2 10 Less provision for losses 176,077 15 3 357,413 7 7 Sundry debtors .. .. .. .. 28,208 3 3 Cash in hand, on current account, and on deposit in New Zealand and London .. 377,621 10 9 Investment of reserve for mortgages : Mortgages, &c. .. .. .. .. 6,860 0 0 Special investments (book value) held on behalf of certain estates and funds — £ s. d. Government securities .. 6,379,231 5 11 State Advances Corporation of New Zealand stock .. .. 130,000 0 0 Local bodies'debentures 1,827,169 16 10 Private debentures and shares .. .. 37,705 10 7 Realty and leasehold .. 7,890 4 6 Fixed deposits .. 15,300 0 0 Mortgages .. .. 4,189,243 7 10 Mortgage securities acquired .. .. 38,67716 7 Financial assistance to mortgagors .. .. 331 5 10 Loans .. .. 4,996 14 11 Savings-banks accounts .. 15,464 3 1 Overdue interest on special investments .. .. 58,85815 9 12,704,869 1 10 £37,653,569 18 10 £37,653,569 18 10 E. 0. Hales, 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. —J. H. Fowler, Controller and Auditor-General.

51

B. —1 [PT. IV],

WORKING RAILWAYS ACCOUNT. Income and Expenditure in respect of Railway Operation for the Year ended 31st March, 1938.

52

U Per Cenfc. of "Si Per Ont nf EXPENDITURE. | 1937-38. 1936-37. Operating Revenue. | REVENUE. jfg 1937 _ 38 . 1086 _ 37 _ Operating R^enqe. g 1837-38. 1936-37. ! £ 1937-38. 1936-37. Maintenance ofway and works .. .. A 1,278,980 8% 1,171,963 12 % 16-85 16-98 Passengers, ordinary 17 1, "4 *7 1 421 632 12 77 19-44 20-59 Maintenance 01 signals and electrical appli- B 178,891 13 8 154,107 15 8 2*36 2-23 j Passengers, season tickets .. «. 17 222,191 6 8 189,672 5 6 2*93 2-75 T»yr a - n ? eS , Parcels, luggage, and mails .. .. 17 318 456 14 10 30 f>*525 11 R 4..1Q a.az Maintenance of rolling-stock .. .. C 1,792,562 5 3 1,565,082 16 8 23-60 22-67 Goods 17 5 411 296 17 11 4 846 417 4 0 71-28 70 20 Examination, lubrication, and lighting of D 78,726 19 0 65,047 16 4 1-04 0-94 Labour demurrage, &c. .. .. 17 6 10 ' 14o' 356 6 2 2-16 2'03 v emcies Locomotive transportation .. .. B 1,624,382 14 7 1,347,129 4 11 21-40 19-51 Traffic transportation .. .. .. F 2,090,470 15 4 1,797,058 4 7 27-53 26-03 General charges .. .. G 78,787 4 0 69,690 17 11 1-04 1-01 £ s. d. Superannuation subsidy 187,665 0 4 Less amount allocated to subsidiary services, &c. .. .. 18,681 19 2 ! .. 168,983 1 2 168,304 16 6 2-23 2-44 Total operating expenses .. .. 7,291,785 1 7 6,338,385 5 3 96-05 91-81 Net operating revenue .. .. .. 300,039 9 3 565,218 15 0 3-95 8-19 ! i -- £7,591,824 10 10 £6,903,604 0 3 100-00 100-00 .. j £7 ,591, 824 10 10'£6,903,604 0 3

B.—l [PT. IV].

WORKING RAILWAYS ACCOUNT —continued. Income and Expenditure in respect of Advertising Service.

Income and Expenditure in respect of Departmental Dwellings.

Income and Expenditure in respect of Buildings occupied by Refreshment Service, Book-stall Proprietors, etc.

53

Per Cent, of Revenue. EXPENDITURE. 1937-38. 1936-37. — REVENUE. 1937-38. 1936-37 1937-38. 1936-37. £ £ £ £ Salaries, wages, and allowances 8,398 7,388 22-45 21-39 Advertising-signs, publications, &c. .. 37,397 34,535 Stores and materials .. .. 1,483 1,853 3-96 5-37 Insurance and depreciation .. 7,067 7,243 18-89 20-97 Office and general expenses .. 2,935 2,707 7-86 7-84 19,881 19,191 53-16 55-57 Operating profit .. .. 17,516 15,344 46-84 44-43 37,397 34,535 100-00 100-00 37,397 34,535 Payments to railway revenue — Interest on capital .. .. 761 836 2-03 2-42 Operating profit .. .. .. 17,516 15,344 Rent of premises and sites .. 10,866 10,115 29-07 29-28 Commission .. .. 902 838 2-41 2-43 Freights .. .. .. 217 171 0-58 0-50 Net profit .. .. .. 4,770 3,384 12-75 9-80 17,516 15,344 46-84 44-43 17,516 15,344

Per Cent, of Revenue. EXPENDITURE. 1937-38. 1936-37. REVENUE. 1937-38. 1936-37 1937-38. 1936-37. £ £ £ £ Wages and charges .. .. 62,126 46,081 47-54 35-12 Rentals .. .. .. .. 130,683 131,187 Materials .. .. .. 21,694 19,179 16-60 14-62 Insurance .. .. .. 668 2,294 0 • 51 0-99 Depreciation .. ..35,033 33,927 26-81 25-86 119,521 100,481 91-46 76-59 Operating profit .. .. 11,162 30,706 8-54 23-41 130,683 131,187 100-00 100-00 130,683 131,187 Payments to railway revenue— Operating profit .. .. .. 11,162 30,706 Interest .. .. .. 63,661 64,265 48-71 48-98 Net loss .. .. .. .. 52,499 33,559 63,661 64,265 48-71 48-98 63,661 64,265

Per Cent, of Revenue. EXPENDITURE. 1937-38. 1936-37. j REVENUE. 1937-38. 1936-37 1937-38. 1936-37. £ £ £ £ Wages and charges .. .. 2,682 2,297 13-22 12-07 Rentals .. .. .. .. 20,292 19,019 Materials .. .. .. 877 563 i-32 2-96 Insurance and depredation .. 3,678 3,330 18-12 17-31 7,237 6,190 35-66 32-54 Operating profit .. .. 13,055 12,829 64-34 67-46 20,292 19,019 100-00 100-00 20,292 19,019 Payments to railway revenue— Interest .. .. .. 6,692 6,043 32-98 31-77 Operating profit .. .. .. 13,055 12,829 Net profit .. .. .. 6,363 6,786 31-36 35-69 13,055 12,829 64-34 67-46 13,055 12,829

B.—l [PT. IV].

WORKING RAILWAYS ACCOUNT—continued. Income and Expenditure in respect of Lake Wakatipu Steamers.

Income and Expenditure in respect of Refreshment Service.

Income and Expenditure in respect of Book-stall Service.

54

Per Cent, of Per Cent, oi Revenue. , Revenue. EXPENDITURE. 1987-38. 1936-37. — REVENUE. j 1937-38. 1936-37. 1937-38.; 1936-37. 1937-38. 1936-37. £ £ £ | £ Salaries and wages, shore staff .. 1,252 1,359 16-42 19-12 Ordinary passengers .. 2,648 2,316 34-73 32-56 Salaries and wages, steamer staff 4,183 3,914 54-86 55-04 Season tickets .. .. 38 30 0-50 0-42 Coal and stores .. .. 1,559 1,447 20-44 20-36 Parcels, luggage, and mails .. 521 494 6-83 6-95 Repairs, steamers .. .. 1,090 1,278 14-30 17-98 Goods .. .. .. 4,387 4,253 57-55 59-80 Repairs, wharves, &c. .. 920 612 12-07 8-61 Miscellaneous .. .. 30 19 0-39 0-27 Insurance, depreciation, &c. .. 846 844 11-10 11-82 Motor-lorry expenses .. .. 634 719 8-32 10-11 10,484 10,173 137-51 143-04 7,624 7,112 100-00 100-00 Operating loss .. .. 2,860 3,061 37-51 43-04 10,484 10,173 137-51 143-04 10,484 137-51 143-04 Operating loss .. .. 2,860 3,061 37-51 4.3-04 Payments to railway revenue— Interest on capital .. .. 660 682 8-66 9-59 Net loss .. .. .. 3,520 3,743 46-17 52-63 3,520 3,743 46-17 52-63 3,520 I 3,743 46-17 52-63 i

Per Cent, of Revenue. EXPENDITURE. 1937-38. 1936-37. REVENUE. 1937-38. 1936-37 1937-38. 1936-37. £ £ £ £ Salaries and wages .. .. 49,074 31,887 34-37 30-86 Receipts from Refreshment-rooms .. 142,786 103,351 Provisions used .. .. 66,285 4=5,036 46-42 43'58 Light, fuel, and water .. 2,653 1,823 1-86 1-76 Renewals and depreciation .. 4,109 2,747 2-87 2-66 Insurance and miscellaneous .. 4,260 6,152 2-99 5-94 126,381 87,645 88-51 84-80 Operating profit .. .. 16,405 15,706 11-49 15-20 142,786 103,351 100-00 100-00 142,786 103,351 Payments to railway revenue— Interest on capital .. .. 1,230 1,111 0-86 1-07 Operating profit . .. .. 16,405 15,706 Rent .. .. .. 9,817 9,219 6-87 8-93 Freights and fares .. .. 3,509 3,150 2-46 3-05 Net profit .. .. .. 1,849 2,226 1-30 2-15 16,405 15,706 11-49 15-20 16,405 15,706

Per Cent, of Revenue. EXPENDITURE. 1937-38. 1936-37 REVENUE. 1987-38. 1936-37 1937-38.! 1936-37. £ £ £ £ Salaries and wages .. .. 8,639 4,997 11-26 9-18 Receipts .. .. .. .. 76,719 54,417 Stores .. .. .. 56,489 39,625 73-64 72-82 Miscellaneous .. .. 1,010 990 1-31 1-82 66,138 45,612 86-21 83-82 Operating profit .. .. 10,581 8,805 13-79 16-18 76,719 54,417 100-00 100-00 76,719 54,417 Payments to railway revenue— Rents .. .. .. 6,905 5,442 9-00 10-00 Operating profit .. .. 10,581 8,805 Rail freights .. .. 189 191 0-25 0-35 Net profit .. .. .. 3,487 3,172 4-54 5-83 10,581 8,805 13-79 16-18 j 10,581 8,805

B.—l [PT. IV].

WORKING RAILWAY ACCOUNT—continued. Income and Expenditure in respect of Road Services.

Railway Employees' Sick Benefit Society.

55

Per Cent, of ( Per Cent, of Revenue. 1 Revenue. EXPENDITURE. 1937-38. 1936-37. — 1 REVENUE. | 1937-38. 1936-37. 1937-88. 1936-37. j 1937-38. j 1936-37. £ £ £ £ Superintendence — Salaries and 26,509 18,595 9-59 9-36 Passengers.. .. .. 234,697 173,864 84-87 87-48 office expenses Goods, parcels, mails, &c. .. 40,144 23,808 14-52 11-98 Maintenance charges . . .. 39,100 28,279 14-14 14-23 Miscellaneous .. .. 1,686 1,079 0-61 0-54 Running-expenses .. •• 127,875 87,074 46-24 43-80 License fees .. .. .. 8,431 6,202 3-05 3-12 Insurance and depreciation .. 45,392 32,548 16-42 16-38 247,307172,698 89-44 86-89 Operating profit .. 29,220 26,053 10-56 13-11 276,527198,751 100-00 100-00 276,527 795,757100-00 100-00 Payment to railway revenue — Interest on capital .. .. 7,246 4,355 2-62 2-19 Operating profit .. .. 29,220 26,053 10-56 13-11 Net profit .. • 21,974 21,698 7-94 10-92 29,220 26,053 10-56 ,13-11 29,220 26,053 10-56 13-11 I

Income and Expenditure. EXPENDITURE. 1937-33. 1936-37. INCOME. 1937-38. 1936-S7 £ £ £ £ Sick benefits paid to members .. .. 27,090 23,346 Contributions .. .. .. .. 23,715 20,359 Balance carried down, being excess of income 6,433 6,549 Entrance fees .. .. .. ... 337 281 over expenditure | Interest on Investments .. .. .. 1,471 1,255 Subsidy as per section 5, subsection (1), of 8,000 8,000 Government Railways Amendment Act, 1928, charged to Working Railways Account 33,523 j 29,895 33,523 I 29,895 Balance accumulated funds as at 31st March .. 47,392 40,959 Accumulated funds brought forward on 1st April 40,959 34,410 Balance brought down .. .. .. 6,433 6,549 47,392 40,959 47,392 | 40,959 Balance-sheet. Liabilities. £ j £ Assets. £ j £ Accumulated funds .. .. .. 47,392 , 40,959 Investments .. .. .. .. 46,916 1 40,545 Sick pay due not paid .. .. .. 74 5 Cash in Working Railways Account .. .. 492 417 Contributions outstanding at 31st March .. 58 2 47,466 40,964 47,466 40,964

B.—l [PT. IV].

WORKING RAILWAYS ACCOUNT—continued. RENEWALS, DEPRECIATION, AND EQUALIZATION RESERVE ACCOUNTS. General Reserve Account. I £ a. d. (Balance ... .. .. .. £1,144,552 17 8 Insurance Reserve Account. Expenditure. £ s. d. Income. £ a. d. Loaaea .. .. .. .. .. 2,707 17 8 Balance from previous year .. .. .. 98,458 10 7 Upkeep railway fire brigades and fire appliances.. 1,518 10 3 Premiums debited to working-expenses .. 11,937 0 6 Balance .. .. .. .. .. 106,169 3 2 £110,395 11 1 £110,395 11 1 Balance .. .. .. .. .. £106,169 3 2 Workers' Compensation Reserve Account. Expenditure. £ s. d. Income. £ s. d. Accident payments .. .. .. .. 48,150 6 7 Balance from previous year .. .. .. 44,217 3 2 Balance .. .. .. .. .. 44,558 3 6 Premiums debited to working-expenses .. 48,491 611 £92,708 10 1 £92,708 10 1 Balance .. .. .. .. .. £44', 558 3 6 Slips, Floods, and Accidents Equalization Reserve Account. • Expenditure. £ s. d. Income. £ s. d. Repairs to bridges, track, &c... .. .. 53,581 17 2 Balance from previous year .. .. .. 54,147 0 8 Balance .. .. .. . .. 20,385 3 6 Contributions debited to working-expenses .. 19,256 0 0 Interest .. .. .. .. .. 564 0 0 £73,967 0 8 £73,967 0 8 Balance .. .. .. .. . . £20,385 3 6 Betterments Reserve Account. Expenditure. £ s. d. Income. £ s. d. Refreshment Branch .. .. .. 1,297 3 3 Balance from previous year .. .. .. 3,091 7 9 Balance .. .. .. •• •• 1,794 4 6 £3,091 7 9 £3,091 7 9 ===== — Balance .. .. .. .. .. £1,794 4 6 Renewals Reserve Account. Expenditure. £ s. d. Income. £ s. d. Relaying of track .. .. .. .. 165,378 3 4 : Balance from previous year .. .. .. 748,467 9 0 Refreshment Branch .. .. .. 256 8 9 Contributions debited to working-expenses .. 204,412 0 0 Balance .. .. .. .. . . 790,489 16 11 ; Interest .. .. .. .. .. 3,245 0 0 £956,124 9 0 j £956,124 9 0 Balance .. .. .. .. .. £790,489 16 11 Depreciation Reserve Account. Expenditure. £ s. d. | Income. £ s. d. Way and works, bridges, and portable plant .. 95,315 18 5 ! Balance from previous year .. .. .. 211,489 16 11 Operating buildings .. .. .. .. 16,637 9 0 Contributions — Signalling and interlocking .. .. .. 24,273 4 5 Way and works, bridges, and portable plant .. 69,-706 0 0 Rolling-stock .. .. .. .. 308,319 6 9 Operating buildings .. .. .. 43,578 0 0 Locomotive running and car and wagon depot Signals, interlocking, and electric traction .. 53,760 0 0 plant .. .. .. .. .. 4,130 8 5 Rolling-stock .. .. .. .. 341,460 10 9 Dwellings .. .. .. .. .. 24,087 4 3 Locomotive running and car and wagon depot Refreshment, advertising, road service and stores plant .. .. .. .. .. 2,8700 0 buildings .. .. .. .. 575 5 4 Dwellings .. .. .. .. 35,439 10 0 Workshops buildings and plant .. .. 848 5 3 Head Office buildings and plant .. .. 1,460 0 0 Road services .. .. .. .. 52,176 310 Refreshment, advertising, road service, and Lake Wakatipu steamer service .. .. 143 17 7 stores buildings .. .. .. .. 6,460 0 0 Balance .. .. .. .. .. 321,622 2 6 Workshops buildings and plant .. .. 40,416 8 0 Lake Wakatipu steamer service .. .. 547 0 0 Road services .. .. .. .. 40,103 0 4 Wharves .. .. .. .. 838 19 9 £848,129 5 9 £848,129 5 9 Balance .. .. .. .. .. £321,622 2 6

56

B.—l [PT. IV].

WORKING RAILWAYS ACCOUNT—continued. Income and Expenditure of the Whole Undertaking for the Year ended 31st March, 1938.

Net Revenue Account.

B—B.8 —B. 1 [Pt, IV].

57

1 Tear 1937-38. Year 1936-37. i Statement No. — — ~ ' ~~ " r Gross Revenue. Expenditure. Net Revenue. Gross Revenue. Expenditure. Net Revenue. —— 3 £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. J Railwav operation .. .. •• 3 7,591,824 10 10 7,291,785 1 7 300,039 9 3 6,903,604 0 3 6,338,385 5 3 565,218 15 0 Lake Wakatipu steamers 4 7,624 .3 9 11,143 13 9 Dr. 3,519 10 0 7,111 17 6 10,855 0 0 Dr. 3,743 2 6 Refreshment service .. .. 5 142,786 2 6 140,936 17 3 1,849 5 3 103,351 0 4 101,124 11 11 2,226 8 5 5a 76,719 6 10 73,231 .18 10 3,487 8 0 54,417 5 2 51,245 6 11 3,171 18 3 Advertising service 6 37,396 14 4 32,626 17 10 4,769 16 6 34,535 111 31,150 11 5 3,384 10 6 DvwSr -• 7 130,683 6 7 183,182 8 7 Dr. 52,499 2 0 131,187 6 0 164,745 13 0 Dr. 33,558 7 0 Buildings occupied by refreshment service, book- 8 20,291 10 9 13,928 13 0 6,362 7 9 19,019 10 0 12,233 2 9 6,786 7 3 Rotdiervkes et0rS ' & °' •• 9 276,526 16 2 254,553 6 8 21,9.73 9 6 198,751 4 5 177,053 8 2 21,697 16 3 Miscellaneous revenue' .. - 350,333 3 0 .. 350,333 3 0 338,673 17 7 .. 338,673 17 7 8,634,185 14 9 8,001,388 17 6 .. 7,790,651 3 2 6,886,792 19 5 Total net revenue to .Net Revenue Account.. .. .. •• 632,796 17 3 .. •• 903,858 3 9

Dr. 1937-38. 1936-37. ' Cr. 1937-38. J 1936-37. £ s. (1. £ .s. d. £ s. d. £ s. d. Interest charges .. .. .. .. 2,335,807 11 1 2,309,754 6 4 Net earnings before charging interest on capital .. 632,796 17 3 903,858 3 9 Reduction on account of interest charges, vide 1,703,010 13 10 1,405,896 2 7 section 14, Finance Act, 1930 (No. 2) — 2,335,807 11 1 2,309,754 6 4 £2,335,807 11 1 2,309,754 6 4

B.—l [PT. IV].

WORKING RAILWAYS ACCOUNT— continued. Capital Account as at 31st March, 1938.

58

i !i ' ' | 1 | Total to 31st March, Year ended Total to 31st March, Total to 31st March, Year ended Total to 31st March, 1937. 31st March, 1938. 1938. 1937. ! 31st March, 1938. 1938. Expenditure. £ s. d. £ s. d. £ s. d. Receipts. £ s. d. £ s. d. £ s. d. Permanent-way— Worts, "buildings, ina- 50,652,463 13 10 724,806 0 5 51,377,269 14 3 Capital included in public debt .. 56,028,771 8 9 1,297,909 16 2 57,326,681 4 11 chinery, plant, and dwellings Other capital .. .. .. 9,033,902 6 6 .. 9,033,902 6 6 Rolling-stock, lake steamers, and road 11,455,193 17 2 829,597 17 11 12,284,791 15 1 motors 65,062,673 15 3 1,297,909 16 2 66,360,583 11 5 Lines closed for traffic .. .. 290,981 17 10 71,680 11 6 362,662 9 4 Deduct accrued depreciation and 10,400,000 0 0 .. 10,400,000 0 0 — other losses of capital written off 62,398,639 8 10 1,626,084 9 10 64,024,723 18 8 in accordance with subsection (2), Deduct accrued depreciation on exist- 7,913,692 8 4 367,466 10 3 8,281,158 18 7 section 23, of the Government ing assets Railways Amendment Act, 1931 54,484,947 0 6 1,258,617 19 7 55,743,565 0 1 Add unexpended balance: Deprecia- 211,489 16 11 110,132 5 7 321,622 2 6 54,662,673 15 3 1,297,909 16 2 55,960,583 11 5 tion Reserve Outstanding liabilities .. .. 33,763 2 2 70,840 9 0 104,603 11 2 £54,696,436 17 5 £1,368,750 5 2 £56,065,187 2 7 £54,696,436 17 5 £1,368,750 5 2 £56,065,187 2 7 . ! Note. —Unopened lines are under the control of the Public Works Department, and all expenditure out of the Public Works Fund in connection therewith is included in the accounts of that Department

B.—l [FT. IV].

WORKING RAILWAYS ACCOUNT—continued. General Balance-sheet as at 31st March, 1938. Liabilities. Assets. Sundry creditors — £ s. d. £ s. d. £ s. d. £ s. d. General creditors (including Sawmills, bush areas, and stock unpaid wages) and credit of timber .. .. .. 191,784 1 10 balances .. .. 786,189 19 0 Stores and material on hand— Government Departments .. 33,728 3 10 Stores Branch .. .. 1,275,000 7 11 819,918 2 10 Subsidiary Services .. 17,871 14 7 Collections for refund to — , — 1,292,872 2 6 Harbour Boards, shipping Sundry assets — companies, and other Advertising Branch .. 22,768 9 4 carriers .. .. 34,362 11 5 Refreshment Branch .. 35,411 10 10 Government Departments 175 13 11 Housing improvements .. 10,812 1 7 34,538 5 4 68,992 1 9 Items to be written off on Sundry debtors— receipt of Parliamentary . Advances to capital .. 97,492 5 7 authority .. .. .. 8,338 18 8 Government Departments .. 52,167 8 5 General reserve .. .. 1,144,552 17 8 Advances: Housing scheme Depreciation reserve .. 321,622 2 6 under Government RailRenewals reserve .. .. 790,489 16 11 ways Amendment Act, Insurance reserves — 1927, section 15 (5) RailFire .. .. .. 106,169 3 2 way employees .. .. 368 211 Workers' compensation . . 44,558 3 6 Work in progress, sundry Slips, floods, and accidents .. 20,385 3 6 debtors, and debit balances 310,149 19 3 -2,427,777 7 3 460,177 16 2 Employment Promotion Fund —• Employment Promotion Fund — Subsidy on works .. .. .. .. 307,488 7 7 Subsidized works .. .. 307,488 7 7 Betterments reserve — Accrued interest on investments .. 3,493 3 0 Refreshment Branch .. .. .. 1,794 4 6 Outstanding at stations — Sick Benefit Fund .. .. .. .. 47,408 8 5 Cash in hand .. .. 46,335 9 3 Freights, &c., owing by Government Departments 62,424 5 0 Freights, &c., owing by sundry debtors .. .. 155,928 5 2 264,687 19 5 Working Railways Investments .. .. 250,000 0 0 Sick Benefit Fund Investments .. .. 46,916 3 3 Cash in Working Railways Account .. .. 760,851 19 1 £3,647,263 14 7 £3,647,263 14 7 W. Bishop, A.R.A.N.Z., 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 set out the position as disclosed thereby, subject to the above departmental note, and to the exception that the cost of exchange in respect of interest payments made in London during the year for the purposes of this account has not been charged to the account but has been borne by the Consolidated Fund.—J. H. Fowler, Controller and Auditor-General.

59

B.—l [PT. IV].

GOVERNMENT RAILWAYS SUPERANNUATION FUND. Statement of Accounts in accordance with Section 123, Government Railways Act, 1926. Receipts and Payments Account for the Year ended 31st March, 1938. Receipts. Payments. Dr. £ s. 3. Gr. £ s. d. Balance in hands of Public Trustee on 31st March, Retiring-allowances paid to members .. .. 424,977 4 9 1937 .. .. .. .. .. 28,933 15 7 Allowances to widows and children .. .. 28,397 12 3 Contributions by staff .. •.. .. 179,255 11 6 Contributions refunded to members who have Contributions by contingent contributors .. 8,717 17 11 left the Service .. .. .. .. 23,917 210 Fines .. .. .. .. .. 149 12 6 Contributions refunded to contingent members Working Railways Account — who have left the Service .. .. .. 1,584 3 9 Subsidy .. .. .. .. .. 170,000 0 0 Rebates of contributions .. .. .. 194 12 4 Increased allowances to annuitants as provided Refund to legal representatives of deceased benefor by Statutes Amendment Act, 1936 .. 3,211 2 8 ficiaries under section 120 (c) of Government Increased allowances to widows and children .. 12,569 2 8 Railways Act, 1926 .. .. .. 1,273 4 3 Cost-of-living bonus to annuitants .. .. 1,594 12 0 Contributions transferred to other funds .. 427 8 11 Subsidies from— Travelling-expenses of Board members.. .. 72 15 0 New Zealand Railways Officers' Institute .. 14 1 6 Public Trust charges (legal costs) .. .. 145 16 0 Railway Tradesmen's Association .. .. 17 111 Public Trust commission .. .. .. 1,416 17 7 New Zealand Engine-drivers, Firemen, and Audit Office fee .. .. .. .. 50 0 0 Cleaners' Association .. .. .. 25 12 9 Salaries .. .. .. .. .. 1,373 12 1 Consolidated Fund .. .. .. 45,000 0 0 Postages .. .. .. .. .. 154 4 7 Interest— £ s. d. Printing and stationery .. .. .. 181 18 5 Investments .. .. 54,732 2 1 Cost-of-living bonus to annuitants .. .. 1,574 6 5 Treasury Department .. 11,119 0 0 Investments .. .. .. .. 18,820 5 3 65,851 2 1 Cost of actuarial investigation of the fund .. 380 0 0 Rates and fees (recovered) .. .. .. 385 1 4 Balance in hands of Public Trustee at 31st March, Insurance premium (recovered) .. .. 4 711 1938 .. .. .. .. .. 10,966 15 1 Commission on collection of Government Life Insurance premiums .. .. .. 46 7 2 Contributions recovered (in Suspense) .. .. 132 10 0 £515,907 19 6 £515,907 19 6

60

B.—l [PT. IV],

GOVERNMENT RAILWAYS SUPERANNUATION FUND— continued. Statement of Accounts, etc.— continued. Revenue Account for the Year ended 31st March, 1938.

61

EXPENDITURE. 1937-38. 1936-37. INCOME. 1937-38. 1936-37. £ s. d. £ s. d. \ £ s. d. £ s. d. Retiring-allowances to members .. .. .. .. 424,851 0 9 420,208 14 3 j Members'contributions.. .. .. .. •• 172,007 10 5 166,324 17 0 Allowances to widows and children .. .. .. 28,408 14 6 28,618 7 5 \ Members'contributions on account of casual service .. 37,508 6 3 4,011 7 11 Refund of total contributions .. .. .. .. 24,060 4 5 14,120 10 0 Pines .. .. .. .. .. .. 161 0 0 107 15 0 Refund of contributions in excess of allowance drawn by 1,481 14 10 1,041 7 3 Subsidies — deceased beneficiaries Consolidated Fund .. .. .. .. .. 45,000 0 0 65,000 0 0 Transfers to other funds.. .. .. .. ., 429 6 6 ! 234 18 7 Working Railways .. .. .. .. .. 170,000 0 0 170,000 0 0 Reserve for bad and doubtful debts .. .. .. 1,054 13 8 1,368 3 7 \ Increased allowances to annuitants as provided for by 3,494 1 8 Cost of actuarial investigation of the fund .. .. .. .. 380 0 0 ! Statutes Amendment Act, 1936 Administration charges — Working Railways, on account of increased allowances to 12,596 12 3 12,704 6 9 Travelling-expenses of Board members .. .. .. 72 15 0 74 2 6 widows and children Public Trust Office commission.. .. .. .. 1,299 4 9 1,367 8 3 j New Zealand Railway Officers' Institute .. .. 13 7 10 17 18 10 Public Trust charges (legal costs) .. .. .. 175 11 1 21 18 1 New Zealand Railway Tradesmen's Association.. .. 16 4 7 21 15 0 Audit Office fee .. .. .. .. .. 50 0 0 50 0 0 New Zealand Engine-drivers, Firemen, and Cleaners' 24 6 10 32 2 8 Salaries .. .. .. .. .. .. 1,373 12 1 1,290 15 5 I Association Postages .. .. .. .. .. .. 154 4 7 197 11 0 \ Interest — £ s. d. Printing and stationery .. .. .. .. 181 18 5 i 37 9 2 \ Investments .. .. .. .. 53,470 0 10 Balance carried down, being excess of income over expendi- 21,863 17 3 3,866 14 0 Treasury Department .. .. .. 11,119 0 0 ture for the year | 64,589 0 10 64,610 17 6 } Commission on Government Life Insurance collections .. 46 7 2 46 18 10 505,456 17 10 472,877 19 6 \ 505,456 17 10 472,877 19 6 Accumulated funds brought forward on 1st April .. .. 1,250,860 10 2 1,246,984 7 11 Balance brought down .. .. .. .. 21,863 17 3 3,866 14 0 Balance accumulated funds as at 31st March .. .. 1,272,724 7 5 ,1,250,860 10 2 j Amounts unclaimed written offLife allowances .. .. .. .. .. 4 18 5 | Widows' allowances .. .. .. .. .. 3 15 Refund of contributions .. .. .. .. 18 5 1,272,724 7 5 1,250,860 10 2 \ 1,272,724 7 5 1,250,860 10 2

B.—l [PT. IV].

GOVERNMENT RAILWAYS SUPERANNUATION FUND— continued. Statement of Accounts, etc.— continued. Balance-sheet as at 31st March, 1938.

D. G. Sullivan, W. Bishop, Chairman of the Government Railways Chief Accountant, New Zealand Railways. Superannuation Fund Board. I hereby certify that the Statement of Receipts and Payments, Revenue Account, and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— J. H. Fowlek, Controller and Auditor-General.

62

LIABILITIES. 1937-38, j 1936-37. j ASSETS. 1937-38. 1930-37. £ s. d. £ s. d. £ s. d. £ s. d. Accumulated funds as per Revenue Account .. .. 1,272,724 7 5 1,250,860 10 2 Investment Account — £ s. d. Casual employees' contingent contributions .. .. 8,833 17 11 15,624 8 5 Investments .. .. .. 1,251,278 2 1 Retiring and other allowances due (not paid) — Cash in hand .. .. .. 1,708 15 9 Members .. .. .. .. .. .. 672 1 10 859 18 2 — 1,252,986 17 10 1,234,574 17 4 Widows and children .. .. .. .. .. 150 5 6 138 3 3 Current Account — Refund of contributions authorized (not paid) .. .. 151 0 7 218 1 8 Cash in hand .. .. .. .. ,, 10,966 15 1 28,933 15 7 Refund of contributions in excess of allowance drawn by 208 10 7 .. Contributions and fines in transit .. .. .. 15,017 5 10 14,831 13 8 beneficiaries (not paid) Contributions outstanding .. .. .. .. 674 3 6 629 7 7 Transfers to other funds authorized (not paid) .. .. 20 11 8 18 14 1 Contributions due by members in respect of casual service 20,558 1 5 4,225 12 10 Interest paid in advance .. .. .. • • 217 6 9 228 4 6 Working Railways — Public Trust Office .. .. .. .. •• 1,280 5 3 1,006 7 3 On account of increased allowances to annuitants as pro- 282 19 0 Reserve for bad and doubtful debts .. .. .. 6,000 0 0 6,000 0 0 vided for by Statutes Amendment Act, 1936 Rebates of contributions (National Expenditure Adjustment 41,125 19 0 41,941 14 8 On account of cost-of-living bonus .. .. .. 123 19 1 144 4 8 Act, 1932) On account of additional allowance to widows and children 1,016 2 11 988 13 4 Subsidy paid in advance.. .. .. .. .. 2 10 9 .. Interest due not paid .. .. .. .. .. 18,047 11 2 19,852 16 2 Sundry creditors .. .. .. .. .. 132 10 0 380 0 0 Interest accrued but not due .. .. .. .. 12,839 2 5 12,953 5 4 Contributions paid in advance .. .. .. .. 1,107 7 0 .. Rates and fees paid .. .. .. .. .. 91 18 3 114 5 7 Insurance premiums .. .. .. .. .. 21 17 9 27 3 11 1,332,626 14 3 1,317,276 2 2 Sundry debtors .. .. .. .. .. .. 6 2 1,332,626 14 3 1,317,276 2 2

15, 1 ! Pt. TV].

RANGITAIKI LAND DRAINAGE SCHEME. Rate Account as at 31st March, 1938. Capital. Maintenance. Capital. MaintenanceDr. £ s. d. £ s. d. Or. £ s. d. £ s. dTransfer to Drainage Works — Balance as at Ist April, 1937 .. 3,820 11 2 5,747 I 0 Capitalized Interest Account .. 3,820 11 2 .. Penalty on rates .. .. 153 15 7 178 8 6 Interest on capital cost .. 8,712 14 0 .. Subsidy on maintenance-costs .. .. ■ 2,405 15 7 Cost of maintenance .. .. .. 7,939 17 6 Balance as at 31st March, 1938 .. 10,016 211 Remissions .. .. .. 214 18 6 120 19 4 Transfer to Reserve Fund .. 1,242 6 0 Balance as at 31st March, 1938 .. .. 270 8 3 £13,990 9 8 £8,331 5 1 £13,990 9 8 £8,331 5 1 Note. —The rates for 1937-38 rating year were not struck until after 31st March, 1938, but the charge for interest and sinking fund in respect of the capital rate has been brought into the account. Revenue Account foe the Year ended 31st March, 1938. £ s. d. £ s. d. Loss written off .. .. .. .. 0 4 3 Accrued rent .. .. .. .. 153 6 9 Loose tools written off .. .. .. 0 10 5 Hire of plant .. .. .. .. 2116 Adjustment of overcharged rent .. .. 019 6 Interest on capital cost recoverable by rates .. 8,712 14 0 Law-costs remitted .. .. .. 3 19 0 Balance, transferred to Drainage Works Account 90,884 1 9 Capitalized interest written off (section 11, Finance Act, 1937 (No. 2) ) .. .. 80,180 0 0 Interest on Public Works Fund capital .. 19,567 0 10 £99,752 14 0 £99,752 14 0 Receipts and Payments Account tor the Year ended 31st March, 1938. Receipts. Payments. Public Works Consolidated Public Works Consolidated Fund. Fund. Fund. Fund. £ s. d. £ s. d. £ s. d. £ s. d. Plant: amount transferred from Con- Maintenance completed works .. .. 10,477 17 8 solidated Fund .. .. 15 0 0 .. Refund rents .. .. . . .. 3 19 11 Rents .. .. .. . . . . 157 8 2 Refund rates .. .. .. .. 131 4 5 Rates . . .. .. . . . . 10,423 17 10 Refund amount received in error .. .. 617 0 Law-costs .. .. . . . . 75 5 2 Refund transferred to Public Works Subsidy on maintenance costs .. .. 3,330 0 0 Fund .. .. .. .. .. 15 0 0 Sundries .. .. .. .. .. 2,348 10 5 Transfer net receipts to Treasury Transfer expenditure to Treasury Adjustment Account .. .. .. 16,178 0 3 Adjustment Account .. .. .. 10,477 17 8 Transfer receipts to Public Works Fund Account .. .. 15 0 0 £15 0 0 £26,812 19 3 £15 0 0 £26,812 19 3 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Public Works Fund .. .. .. 489,168 12 7 Drainage works— Treasury Adjustment Account .. .. 268,262 16 11 Recoverable: Capital expenditure (section 11, Reserve: Repayment capital costs .. .. 1,242 6 0 Finance Act„ 1937 (No. 2) ) .. .. 205,000 0 0 Unpaid purchase-money for land taken .. 210 1 1 Not recoverable: Capital expenditure and Sundry creditors— £ s. d. capitalized interest .. .. .. 513,530 5 6 Departmental .. .. 942 5 10 Plant and machinery .. .. .. 7,738 17 4 Miscellaneous .. .. 249 13 0 Buildings .. .. .. .. .. 1,389 12 3 1,191 18 10 Loose tools .. .. .. .. 418 8 3 Rate Account : Maintenance .. .. 270 8 3 Sundry goods .. .. .. .. 1,082 6 2 Writings-off in Suspense .. .. .. 130 8 10 Rate Account: Capital .. .. .. 10,016 2 11 Payments in advance — Sundry debtors— £ s. d. Rates .. .. .. 139 5 0 Rates capital .. .. 11,584 18 0 Law-costs .. .. .. 0 4 0 Rates maintenance .. .. 8,911 17 0 — 139 9 0 Law-costs .. .. 545 7 4 Rents .. .. .. 12 6 Miscellaneous .. .. 152 4 11 Departmental .. .. 114 10 6 21,310 0 3 Losses in Suspense .. .. .. .. 130 8 10 £760,616 1 6 £760,616 1 6 W. Robertson, Under-Secretary for Lands. Wm. E. Shaw, Chief Accountant. I hereby certify that the Rate and Revenue Accounts and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the departmental note enfaced thereon and to the explanatory notes dealing with Departmental Accounts generally as appearing at commencement of parliamentary return 8.-l. [Pt. IV.] —J, H, Fowler, Controller and Auditor-General.

63

B.—l [PT. IV].

REPATRIATION ACCOUNT. Statement of Assets and Liabilities as at 31st March, 1938. Liabilities. Assets. £ s. d. £ s. d. Investment Account: Principal £ s. d. £ s. d. Liability to Loans Redemption owing on bills of sale, &c... 126,970 19 9 Account as at Ist April, Less Suspense Adjustment .. 145 12 4 1925 .. .. .. 1,290,182 2 1 126,825 7 5 Less net repayments to 31st Writings-off in Suspense— March, 1937 .. .. 199,591 0 7 Principal .. .. .. 10,848 13 4 Interest .. .. .. 310 3 9 1,090,591 1 6 11,158 17 1 Less net repayments for year Interest on bills of sale, &c., overdue 31st March, ended 31st March, 1938 .. 6,441 111 1938 .. .. .. .. .. 2,363 3 8 — 1,084,149 19 7 Less expenditure irrecoverable to 31st March, 1937 931,048 5 6 Losses on realization for year ended 31st March, 1938 .. 15,107 17 9 Management expenses for year ended 31st March, 1938 .. . . .. 319 15 7 — ——- 946,475 18 10 Liability to Loans Redemption Account as at 31st March, 1938 .. .. .. 137,674 0 9 Interest on advances from War Expenses Account overdue on 31st March, 1938 .. .. 2,673 7 5 £140,347 8 2 £140,347 8 2 Interest Receivable Account fob Yeah ended 31st March, 1938. Dr. £ s. d. Or. £ s. d. Interest on bills of sale, &c., overdue on 31st March, Interest collected during year ended 31st March, 1938 55.1 1 9 1937 .. .. .. .. .. 3,197 3 9 Interest written off during year ended 31st March, Interest charged to accounts for year ended 31st 1938 .. .. .. . . .. 472 5 9 March, 1938 .. .. . . .. 189 7 5 Interest on bills of sale, &c., overdue on 31st March, 1938 .. .. .. .. .. 2,363 3 8 £3,386 11 2 £3,386 11 2 Management Expenses Account for Year ended 31st March, 1938. Dr. £ s. d. Cr. £ s. d. Commission .. .. .. .. .. 105 16 10 Sundry receipts .. .. .. .. 1 11 6 Contingencies .. .. .. .. .. 180 Balance recouped in accordance with section 13 (3), Post Office services .. .. .. .. 70 6 0 State Advances Amendment Act, 1922 .. .. 319 15 7 Refund admission fees (Office Solicitor) .. .. 22 5 0 Solicitors' costs .. .. .. .. .. 120 10 3 Valuation fee .. .. .. .. 110 £321 7 1 £321 7 1 Note.' —The salaries of the officers of the Treasury engaged upon the Repatriation Accounts have been charged to vote " Treasury," but no portion of these charges has been recovered from this account. A. R. E. Mackay, M.Com. (N.Z.), Ph.D. (Lond.), Assistant Accountant to the Treasury. I hereby certify that the Statements of Account have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the departmental pote enfaced thereon. —J. H. Eowler, Controller and Auditor-General.

64

B.—l [PT. IV].

RESERVE BANK OF NEW ZEALAND. Profit and Loss Account for Year ended 31st March, 1938. Dr. Or. General charges, including salaries, rent, £ s. d. Balance of profit after making provision £ s. d. cost of note-issue, and other expenses 90,753 15 9 for rebate on Treasury bills not yet Staff Superannuation and Provident due, and for sundry liabilities and Fund .. .. .. .. 12,500 0 0 contingencies .. .. .. 299,064 19 4 Balance, being profit for year .. 195,811 3 7 £299,064 19 4 £299,064 19 4 Profit and Loss Appropriation Account. Dr. Gr. Payment to New Zealand Government £ s. d. £ s. d. in terms of section 36 of Reserve Bank Balance at Ist April, 1937 .. .. 47,142 13 6 of New Zealand Act, 1933 .. .. 47,142 13 6 Balance from Profit and Loss Account.. 195,811 3 7 Balance .. .. .. .. 195,811 3 7 £242,953 17 1 £242,953 17 1 £ s. d. Balance .. .. .. . > 195,811 3 7 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. General Reserve Fund .. .. 1,500,000 0 0 Gold (at face value) .. .. 2,801,791 0 0 Bank-notes .. .. .. 13,553,546 10 0 Sterling exchange .. .. 16,535,053 16 0 Demand liabilities — Subsidiary coin .. .. .. 227,798 0 7 (a) State .. .. .. 6,138,218 10 7 Advances— (b) Banks .. .. .. 5,477,773 19 2 (a) To the State or State under(c) Other .. .. .. 271,175 2 5 takingsOther liabilities .. .. .. 96,992 10 3 (1) Primary Products MarketProfit and Loss Appropriation Account 195,811 3 7 ing Department .. 5,200,848 17 5 Investments .. .. .. 2,423,525 0 0 Other assets .. .. .. 44,501 2 0 N.B.—Holdings of sterling have been converted into New Zealand currency at the rate of £100 sterling equals £124 (N.Z.). £27,233,517 16 0 £27,233,517 16 0 L. Lefeaux, Governor. W. L. Ward, Deputy Governor. W. H. Welsh, Chief Accountant. Auditors' Certificate and Report.—We have audited the balance-sheet as at 31st March, 1938, above set forth, and have obtained all the information and explanations we have required. We have accepted the certificate of the Bank of England as to assets held on account of the Reserve Bank of New Zealand. In our opinion, the balance-sheet is properly drawn up so as to exhibit a true and correct view of the state of the affairs of the Bank as at 31st March, 1938, according to the best of our information and the explanations given to us and as shown by the books of the Bank. D. G. Jo™oN} Public Accountants > Auditors.

9—B. 1 [PT. IV].

65

B.—l [PT. IV].

SAMOAN LOAN SUSPENSE AND SINKING FUND ACCOUNTS. Income and Expenditure Account fob the Year ended 31st March, 1938. Expenditure. £ s. d. Income. £ s. d. Interest on loan capital .. .. .. 2,811 14 2 Interest on advances to Samoan Administration .. 4,938 15 0 Interest on advances from Treasury Account . . 1,041 14 8 Excess of income over expenditure .. .. 1,085 6 2 £4,938 15 0 £4,938 15 0 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Loan capital .. .. .. .. 92,485 0 0 Advances to Samoan Administration .. .. 112,195 0 0 Advances from Treasury Investment Accounts .. 20,210 0 0 Interest accrued on advances to Samoan AdminisSinking Fund .. .. .. .. 411 9 tration .. .. .. .. .. 2,364 10 11 Interest accrued— Cash in Public Account .. .. .. 504 11 9 Loan capital .. .. .. .. 805 15 2 Treasury Adjustment Account .. .. 28 2 9 Advances from Treasury Investment Accounts 425 18 8 Interest due and unpaid on advances from Treasury Investment Accounts .. .. .. 75 13 8 Excess of income over expenditure .. .. 1,085 6 2 £115,092 5 5 £115,092 5 5 A. R. F. Mackay, M.Com. (N.Z.), Ph.D. (Loud.), Assistant Accountant to the Treasury. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —Cyril G. Collins, Deputy Controller and Auditor-General.

66

B.—l [PT. IV].

SWAMP LAND DRAINAGE SCHEMES. Rate Accounts foe Year ended 31st March, 1938. KAITAIA DRAINAGE AREA. Special Rate Accounts : Capital. Rural Town Uural Town Subdivision. Subdivision. Subdivision. Subdivision. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. d. £ s. d. Transfer to Reserve Fund .. .. 409 1 5 55 18 2 Balance .. .. .. 1,208 0 6 68 14 2 Interest charge .. .. .. 2,320 18 7 354 110 Rates levied .. .. 3,183 9 9 .. 406 19 1 Remissions .. .. •• 19 65 0116 Less rebate .. 285 7 7 Adjustment of overcharged rates .. .. 5 4 6 2,898 22 Adjustment of overcharged penalty on TfltPQ 0 0 7 Balance !! !! " .. 1,356 16 3 59 16 8 £4,106 2 8 £475 13 3 £4,106 2 8 £475 13 3 General Rate Accounts : Maintenance. Rural Town Rural Town Subdivision. Subdivision. Subdivision. Subdivision. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. Cost of maintenance .. .. 1,144 1 3 165 910 Balance .. .. .. .. 257 910 103 15 5 Remissions .. .. .. 8 6 11 2 15 2 Rates levied .. .. .. 1,485 5 3 199 4 4 Balance, 31st March, 1938 .. .. 590 611 134 14 9 £1,742 15 1 £302 19 9 £1,742 15 1 £302 19 9 WAIHI Drainage AREA. Special Rate Accounts : Capital. I'ukehina Kaikokopu Pukehina Kaikokopu Ward. Ward. Ward. Ward. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. Remissions .. .. .. 855 17 1 3 18 7 Balance .. .. .. .. 990 11 1 76 8 6 Transfer to Reserve Fund .. .. 35 13 2 53 10 1 Rates levied .. .. .. 339 9 7 413 5 6 Interest charge .. .. .. 214 610 321 911 Balance, 31st March, 1938 .. .. 224 3 7 110 15 5 £1,330 0 8 £489 14 0 £1,330 0 8 £489 14 0 General Rate Accounts : Maintenance. Pukehina Kaikokopu Central Pukehina Kaikokopu Central Ward. Ward. Ward. Ward. Ward. Ward. Dr. £ s. d. £ s. d. £ s. d. Cr. £ s. d. £ s. d. £ s. d. Balance .. .. .. .. 37 11 7 Balance .. .. 832 11 6 170 2 8 Cost of maintenance .. 213 1 11 416 15 6 455 0 6 Rates levied .. .. 190 3 4 496 18 5 560 4 5 Adjustment of overcharged Balance, 31st March, 1938 .. .. 1,843 13 3 penalty on rates .. .. 18 5 Remissions .. .. 719 7 22 4 2 1,906 12 1 Adjustment of overcharged rates .. .. • • • • 4 13 6 Balance, 31st March, 1938 90 5 9 246 13 0 £1,022 14 10 £667 1 1 £2,403 17 8 £1,022 14 10 £667 1 1 £2,403 17 8 Poukawa Drainage Area. Special Rate Account: Capital. Dr. £ s. d. Cr. £ s. d. Transfer to Reserve Fund .. .. • . 134 11 1 Balance .. .. .. .. .. 366 17 4 Interest charged .. .. .. .. 942 18 II Rates levied .. .. .. .. .. 1,121 1 5 Balance, 31st March, 1938 .. .. • • 410 8 9 £1,487 18 9 £1,487 18 9 General Rate Account: Maintenance. Dr. £ s. d. Cr. £ s. d. Cost of maintenance .. .. .. .. 128 1 7 Balance .. .. .. .. .. 218 14 4 Balance, 31st March, 1938 .. .. .. 90 12 9 £218 14 4 £218 14 4 Receipts and Payments Account for Year ended 31st March, 1938. rtereimtn Public Consolidated Payment? Public Consolidated Jxeceipts. Works j. und j, una rayments. Works Fund j, und Rents from national-endowment land £ s. d. £ s. d. Kaitaia Drainage Area: Maintenance, £ s. d. £ s. d. in Waihi Drainage Area .. .. 386 4 0 completed works .. .. .. 985 4 9 Special rate for interest and sinking Waihi Drainage Area : Maintenance, fund — completed works .. .. .. 849 18 2 Waihi Drainage Area .. .. .. 285 6 9 Poukawa Drainage Area: MainKaitaia Drainage Area .. .. .. 879 1 7 tenance, completed works .. .. 128 1 7 Poukawa Drainage Area . ■ .. 187 17 11 Hikurangi Drainage Area : Drainage General rate for administration and works, &c. .. ■. .. 323 17 1 maintenance — Plant, &c. (general) .. .. 587 11 2 Waihi Drainage Area .. .. .. 712 16 6 Transfer receipts to Treasury AdjustKaitaia Drainage Area .. .. .. 421 3 11 ment Account .. .. .. .. 3,152 1 2 Poukawa .. . . .. • • • • Transfer receipts to Public Works Rates paid in advance .. .. .. 0 3 9 Fund Account .. .. 935 711 Thirds .. .. .. •. 142 6 1 Sundry rents .. .. .. 600 Miscellaneous .. .. . • • • 131 0 8 Credits in reduction of expenditure .. 935 7 11 Transfer of expenditure to Treasury Adjustment Account .. .. .. 1,963 4 6 Transfer of expenditure to Public Works Fund Account .. .. 911 8 3 £1,846 16 2 £5,115 5 8 £1,846 16 2 £5,115 5 8

67

B.—l [PT. IV].

SWAMP LAND DRAINAGE SCHEMES—continued. Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. Capital Account, Public Works Fund .. .. 691,840 15 2 Kaitaia Drainage Area— £ s. d. £ s. d. Reserve : Repayment capital costs — Allocated cost of works on which Kaitaia Drainage rates are levied — Area — £ s. d. £ s. d. Rural subdivision .. .. 60,000 0 0 Rural subdivision 2,832 16 10 Town subdivision .. .. 8,200 0 0 Town subdivision 387 2 11 68,200 0 0 — 3,219 19 9 Excess cost of works not recoverWaihi Drainage able .. .. .. 155,984 16 11 Area — Interest Account: Proportion Pukehina Subdi- chargeable to area .. 150,121 16 4 vision.. .. 272 9 9 306,106 13 3 Kaikokopu Subdi- Waihi Drainage Area — vision .. 408 15 0 Allocated cost of works on which 681 4 9 rates are levied — Poukawa Drainage Area .. 730 4 4 Pukehina Subdivision .. 5,000 0 0 4,631 8 10 Kaikokopu Subdivision .. 7,500 0 0 Rate accounts — Central Subdivision .. 49,414 3 6 Special Rate Accounts : Capital—- 61,914 3 6 Kaitaia Drainage Excess cost of works not recover - Area — £ s. d. able .. .. 24,526 0 0 Rural subdivision 1,356 16 3 Interest Account: Proportion Town subdivision 59 16 8 chargeable to area .. 44,898 16 4 1,416 12 11 69,424 16 4 Waihi Drainage Poukawa Drainage Area — Area — Drainage works .. .. 15,984 13 2 Pukehina Subdi- Interest Account: Proportion vision .. 224 3 7 chargeable to area .. 1,865 2 8 Kaikokopu Sub- 17,849 15 10 division .. 110 15 5 Hikurangi Drainage Area — ■ 334 19 0 Drainage works .. .. 247,819 17 11 Poukawa Drainage Area .. 410 8 9 Interest Account: Proportion — 2,162 0 8 chargeable to area .. 146,951 2 5 General Rate Accounts: Main- 394,771 0 4 tenance — Mangawai Drainage Area— Kaitaia Drainage Drainage works .. .. 1,877 19 3 Area — £ s." d. Interest Account: Proportion Rural subdivision 590 611 chargeable to area .. 1,508 8 1 . Town subdivision 134 14 9 3,386. 7 4 725 1 8 Harihari Drainage Area— Waihi Drainage Drainage works .. .. 4,355 211 Area — Interest Account: Proportion Pukehina Subdi- chargeable to area .. 3,106 16 10 vision .. 90 5 9 7,461 19 9 Kaikokopu Sub- Buildings .. .. .. .. .. 1,596 8 1 division .. 246 13 0 Wharves .. .. .. .. .. 53 12 0 •— 336 18 9 Plant and machinery .. .. .. .. 28,449 10 9 Poukawa Drainage Area .. 90 12 9 Loose tools .. .. .. .. .. 236 4 11 1,152 13 2 Stores on hand .. .. .. .. 3,668 3 7 Sundry creditors — Motor-vehicles .. .. .. .. 173 15 6 Miscellaneous .. .. .. 18 14 3 Sundry debtors for rates — Departmental .. .. .. 4 16 Drainage Area. Capital. Maintenance. 22 15 9 £ s. d. £ s. d. Rents charged in advance .. .. .. 219 0 0 Kaitaia.. .. 17,090 5 4 6,341 410 23,431 10 2 Payments in advance- Waihi .. .. 4,879 18 7 4,194 710 9,074 6 5 Rent . .. .. 10 12 5 Poukawa .. 3,143 6 8 169 4 0 3,312 10 8 Rates .! .. 4 6 7 Sundry debtors— 14 19 0 Rent under section 4 (2), Swamp Suspense Account .. .. .. .. 0 6 0 Land Drainage Amendment Act, Writings-off in Suspense .. .. .. 121 8 0 192® • • • • • • 416 510 Treasury Adjustment Account .. .. .. 315,281 4 4 House rent .. .. .. 9 5 0 Law-costs .. .. .. 687 0 10 Miscellaneous .. .. .. 41 2 6 Departmental .. .. .. 328 3 2 1,481 17 4 Rate Account — General Rate Account: Maintenance — Waihi Drainage Area : Central Subdivision .. 1,843 13 3 Maintenance costs (Hikurangi) .. .. 434 8 9 Premiums on conversion .. .. .. 127 10 0 Revenue Account—Waihi Drainage Area : Central Subdivision .. .. .. .. 12,172 9 1 Losses in Suspense .. .. .. .. 121 8 0 Cash in transit from Post-ofßce .. .. 154 6 1 £1,015,446 10 11 £1,015,446 10 11 W. Robertson, Under-Secretary for Lands. Wm. E. Shaw, Chief Accountant. I hereby certify that the Rate Accounts and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return [8.-l, Pt. IV], —J. H. Fowler, Controller and Auditor-General.

68

B.—l [PT. IV].

STATE ADVANCES CORPORATION OF NEW ZEALAND. Revenue Accounts foe the Year ended 31st March, 1938. Interest Account. Dr. £ s. d. Or. £ s. d. £ s. d. Interest on stock and debentures .. .. 1,398,614 6 7 Interest on mortgages, current Gross income carried forward to Profit and Loss 900,298 15 3 accounts, and local-body Account securities .. .. 2,431,104 18 6 Less transferred to General Reserve Fund .. 134,187 8 0 2,296,917 10 6 Interest on temporary investments and sundries 1,995 11 4 £2,298,913 1 10 £2,298,913 1 10 Profit and Loss Account. Dr. £ s. d. Cr. £ s. d. Management expenses (all inclusive) .. .. 212,185 9 0 Gross income brought forward from Interest Reserve for losses .. .. .. 20,000 0 0 Account .. .. .. .. .. 900,298 15 3 Contingent Liability Accounts: Amount transferred under section 3, State Advances Corportation of New Zealand Amendment Act, 1935 56,000 0 0 Net income carried forward to Appropriation Account .. .. .. .. 612,113 6 3 £900,298 15 3 £900,298 15 3 Appropriation Account. Dr. £ s. d. £ s. d. Gr. £ s. d-Income-tax reserve .. .. 175,000 0 0 Net income .. .. .. .. 612,113 6 3 Less excess provision, 1936-37 3,937 10 0 171,062 10 0 Investment Fluctuation Reserve .. .. 30,000 0 0 Surplus available for distribution to the Crown .. 411,050 16 3 £612,113 6 3 £612,113 6 3 Balance-sheet as at 31st March, 1937. Liabilities. Assets. £ s. d. £ s. d. £ s. d. £ s. d. Authorized capital .. .. .. 1,000,000 0 0 Mortgages and accrued interest .. .. 51,199,247 5 9 Stock and debentures .. 41,585,970 0 0 Securities in course of realization* 319,054 1 3 Accrued interest .. 220,198 9 2 Realization Suspense Account 41,806,168 9 2 (losses chargeable to ConContingent liability to the tingent Liability Account Crown .. .. .. 11,422,254 5 6 when defined) .. .. 41,844 13 4 Reserves — — ——— 360,898 14 7 General Reserve .. 3,404,803 010 Advances on Current Account and accrued Reserve for losses on in- interest .. .. .. .. .. 1,256,299 8 4 vestments .. .. 35,000 0 0 Other securities transferred to the Corporation Investment Fluctuation under section 36 (1) (/) of the State Advances Reserve .. .. 60,000 0 0 Corporation Act, 1934-35 .. .. .. 18,320 12 6 3,499,803 0 10 Government and Local-body securities and Sundry creditors .. .. .. .. 28,181 13 11 accrued interest .. .. .. .. 5,115,133 19 11 Liability to the Crown —• Fixed assets : At cost, less provision for depreSurplus for year .. 411,050 16 3 ciation office furniture and motor-vehicles .. 35,774 9 3 Income-tax .. .. 175,000 0 0 Current assets — £ s. d. Balance of interest on con- Sundry debtors . . .. 20,896 16 1 tribution to General Lodgments in transit and cash Reserve .. .. 111,316 11 8 in bank and on hand .. 447,203 10 11 697,367 7 11 — 468,100 7 0 £58,453,774 17 4 £58,453,774 17 4 R. Robertson, Chief Accountant. A. D. Park, F.1.A.N.Z., F.R.A.N.Z.\ M . TV , T. N. Smallwood j* Managing Directors. Auditors' Report. In-accordance with the provision of the State Advances Corporation Act, 1936, we report that we have obtained all the information and explanations we have required in respect of the accounts of the Corporation examined by us, and in respect of the above Balance-sheet, which, in our opinion, is properly drawn up so as to exhibit a true and correct view of the state of the Corporation's aflairs according to the best of our information and the explanations given to us and as shown by the books of the Corporation. R. C.' Burgess } Public Accountants > Audltors -

69

B.—l [Px. IV].

HOUSING ACCOUNT. (A) Revenue Account.—Properties sold under Agreement for Sale and Purchase prior to 31st March, 1937. Dr. £ s. d. Cr. £ s. d. Interest Account .. .. .. .. 5,082 16 10 Interest on purchase-money .. .. .. 6,87419 I Management expenses .. .. .. .. 488 0 10 Gross profit to Profit and Loss Account .. .. 1,304 1 5 £6,874 19 1 £6,874 19 1 (B) Revenue Account. —Advances to Local Bodies for Year ended 31st March, 1938. Dr. £ s. d. Cr. £ s. d. Interest Account .. .. .. .. 78 2 3 Interest on advances .. .. ~ .. 161 9 1 Management expenses .. .. .. .. 1187 Gross profit to Profit and Loss Account .. .. 7118 3 £161 9 1 £161 9 1 (C) Revenue Account. —Advances under Part 111, Housing Act, 1919, for Year ended 31st March, 1938. Dr. £ s. d. Or. £ s. d. Interest Account .. .. .. .. 16 16 6 Interest on advances .. .. .. 32 9 1 Management expenses .. .. .. .. 2 5 5 Gross profit to Profit and Loss Account .. .. 13 7 2 £32 9 1 £32 9 1 (D) Revenue Account. —Rented Properties (old) erected prior to 31st March, 1937. Dr. £ s. d. Or. £ s. d. Interest Account .. .. .. .. 17,302 1 1 Rents .. .. .. .. 33,663 8 0 Insurance and maintenance .. .. .. 5,293 810 Rates .. .. .. .. .. 4,290 13 7 Depreciation Reserve .. .. .. 2,670 13 9 Management expenses .. .. .. 2,289 11 6 Gross profit to Profit and Loss Account .. 1,816 19 3 £33,663 8 0 £33,663 8 0

70

B.—l [PT. IV].

HOUSING ACCOUNT —continued. (E) Revenue Account. —Rented Properties (new) erected under New Housing Scheme. Dr. £ s. d. Gr. £ s. d. Interest Account .. .. .. .. 1,054 611 Rents .. .. .. .. .. 4,270 19 9 Depreciation Reserve .. .. . . .. 702 17 8 Maintenance Reserve .. .. .. .. 702 17 8 Insurance Reserve .. .. .. .. 263 11 9 Rates Reserve .. .. .. .. 913 14 9 Vacant Tenancies Reserve .. .. .. 210 17 1 Management expenses .. .. .. .. 422 13 11 £4,270 19 9 £4,270 19 9 (F) Factories and Plant Revenue Account. Dr. £ s. d. £ s. d. Interest Account .. .. .. .. 584 15 0 Lease .. .. .. .. .. 5,700 0 0 Rates .. .. .. .. .. 77 3 6 Rent .. .. .. .. .. 532 5 5 Depreciation-— £ s. d. Factories .. .. .. 1,421 0 4 Plant .. .. .. 1,954 17 0 3,375 17 4 Insurance .. .. .. .. .. 1,113 18 7 Sundries .. .. .. .. .. 16 0 2 £5,700 0 0 £5,700 0 0 Factories and Plant Capital Account as at 31st March, 1938. £ s. d. £ s. d. £ s. d. £ s. d. Factories — Auckland .. 13,897 13 2 Balance .. .. .. .. 46,517 13 0 Less depreciation 674 3 0 13,223 10 2 Wellington .. 15,397 8 0 Less depreciation 746 17 4 — 14,650 10 8 27,874 0 10 Plant — Auckland .. 10,544 10 3 Less depreciation 1,000 14 0 — 9,543 16 3 Wellington .. 10,053 18 11 Less depreciation 954 3 0 9,099 15 11 18,643 12 2 £46,517 13 0 £46,517 13 0 £ s. Balance .. .. .. .. .. 46,517 13 0

71

B.—l [PT. IV].

HOUSING ACCOUNT—continued. Construction Branch. —Construction Expenses Account as at 31st March, 1938. £ s. d. £ s. d. Interest during construction .. .. .. 4,183 14 3 Transfer to factories and plant— Interest on land purchased .. .. .. 2,053 17 3 Capital Account (31st March, 1037) .. .. 746 0 0 Advertising .. .. .. .. .. 804 16 9 Balance .. .. .. .. .. 60,607 1 6 Light, heating, and cleaning .. .. .. 383 3 3 Depreciation (furniture and motor-cars) .. 236 11 11 Plans and schedules .. .. .. .. 11,618 18 2 Quantity surveying .. .. .. .. 540 16 1 Valuation fees .. .. .. .. 220 3 1 Postages and telegrams .. .. .. 239 1 6 Printing and stationery .. .. .. 1,067 4 8 Office maintenance .. .. .. .. 35 13 1 Motor-vehicle maintenance .. .. .. 124 0 1 Rent .. .. .. .. .. 1,252 2 8 Salaries .. .. .. .. .. 30,572 1 7 Telephones .. .. .. .. .. 256 3 6 Travelling-expenses .. .. .. .. 2,020 18 1 Administration costs payable to State Advances Corporation .. .. .. .. 5,236 4 3 Contingencies .. .. .. .. 507 11 4 £61,353 1 6 £61,353 1 6 £ s. d. Balance .. .. .. .. .. 60,607 1 6 Interest Account for the Year ended 31st March, 1938. Dr. £ s. d. Gr. Interest .. .. .. .. .. 33,735 1 1 Recouped from Revenue Accounts: — £ s. d. (a) Properties sold under agreements for sale and purchase .. .. .. .. 5,082 16 10 (ft) Advances to local bodies . . .. 78 2 3 (c) Advances under Part 111, Housing Act, 1919 16 16 6 £ s. d. (d) Rented properties (old) .. 17,302 1 1 (e) Rented properties (new) .. 1,054 611 18,356 8 0 (/) Factories and plant .. .. 584 15 0 Interest during construction — Preliminary expenses .. 184 0 0 Land .. .. .. 2,247 16 5 Dwelling construction .. 3,978 0 0 6,409 16 5 Profit and Loss .. .. .. .. 3,206 6 1 £33,735 1 1 £33,735 1 1 Profit and Loss Account for Year ended 31st March, 1938. Dr. £ s. d. Gr. £ s. d. Interest Account .. .. .. .. 3,206 6 1 Revenue Account: Rented properties .. .. 1;816 19 3 Revenue : Properties sold under agreement for sale and purchase .. .. .. .. 1,304 1 5 Revenue Account — Local authorities .. .. .. .. 71 18 3 Part 111 .. .. .. .. .. 13 7 2 £3,206 6 1 £3.206 6 1 £ s. d. £ s. d. Balance as at 31st March, 1937 .. .. 73,397 5 0 Balance as at 31st March, 1938 .. .. 73,397 5 0 £73,397 5 0 £73,397 5 0 Balance .. .. .. .. .. £73,397 5 0

72

B.—l [PT. IV].

HOUSING ACCOUNT —continued. Management Expenses Account for the Year ended 31st March, 1938. Dr. £ s. d. Or. £ s. d. Audit fees .. .. .. .. .. 50 0 0 Sundry fees .. .. .. .. .. 173 6 0 Commission .. .. .. .. .. 2,528 17 8 Balance transferred to Revenue Accounts — Advertising .. .. . . . . .. 44 5 8 Properties sold under sale and purchase agreeAdministration costs .. .. .. .. 763 15 9 ments .. .. .. .. .. 488 0 10 Sundries .. .. .. .. .. 072 Advances to local bodies .. .. .. 118 7 Advances under section 111, Housing Act, 1919 2 5 5 Rented properties (erected prior to 31st March, 1937) .. .. .. .. .. 2,289 11 6 Rented properties (erected since 31st March, 1937) 422 13 11 £3,387 6 3 £3,387 6 3 Statement or Assets and Liabilities as at 31st March, 1938. Liabilities. Assets. £ s d. £ s. d. £ s. d. £ s. d. Loan liability .. .. .. 2,457, 820 0 0 Principal owing under agreement Interest due and unpaid to for sale and purchase .. 130,209 3 8 Treasury .. .. 34,417 3 9 Advances to local authorities .. 117,627 9 11 Interest accrued . . .. 17,888 4 7 Advances under Part 111, 52,305 8 4 Housing Act, 1919 .. 4,600 0 0 Liability to Consolidated Fund in terms of — 252,436 13 7 section 22, Finance Act, 1926 .. .. 100 0 0 Instalments of principal overdue .. 7,269 14 4 Liability to State Advances Account .. 2,455 19 6 Ex Discharged Soldiers Settlement Transfer 259,706 7 11 Reserve Account .. .. .. 4,590 19 3 Dwellings let .. .. .. .. 500,311 19 11 Sundry creditors .. .. .. .. 21,204 4 9 Freehold land .. .. .. .. 332,062 18 4 Deposits on contracts .. .. .. 25,089 4 9 Dwellings in course of erection or completed Insurance Fund .. .. .. .. 10,590 6 2 under new housing scheme .. .. 1,089,227 5 6 Sinking Fund Reserve .. .. .. 1,943 16 9 Factories and Plant Capital Account .. 46,517 13 0 Reserves on dwellings completed under new Motor-vehicles .. .. .. .. 1,029 13 5 housing scheme — £ s. d. Furniture and equipment .. .. .. 1,582 19 4 Depreciation Reserve .. 702 17 8 Construction Branch preliminary expenses .. 60,607 1 6 Maintenance Reserve . . 702 17 8 Sinking Fund investment held by Public Debt Insurance Reserve .. 263 11 9 Redemption Fund .. .. .. *5,298 16 7 Rates Reserve .. .. 913 14 9 Insurance Fund investment (Government stock) 9,750 0 0 Vacant Tenancies Reserve .. 210 17 1 Sundry debtors .. .. .. .. 3,083 14 4 2,793 18 11 Interest receivable— £ s. d. Depreciation Reserve: Dwellings let (erected Overdue . . .. .. 6,499 19 2 prior to 31st March, 1937) .. .. 2,670 13 9 Accrued .. .. 135 5 4 6,635 4 6 Rentals receivable — £ s. d. Overdue .. .. .. 6,895 10 7 Postponed .. .. 1,996 2 0 8,891 12 7 Insurance premiums— Receivable (overdue) .. 302 5 10 Payable (paid in advance) .. 205 15 2 508 1 0 Realization Suspense Account .. .. 3,733 22 Profit and Loss Account .. .. .. 73,397 5 0 Cash in bank .. .. .. .. 179,220 17 1 £2,581,564 12 2 £2,581,564 12 2

* This amount includes the sum of £3,354 19s. lOd. paid into the Sinking Fund in accordance with the Public Debt Extinction Act, 1910.

R. Robertson, Chief Accountant. A. D. Park F.1.A.N.Z., F.R.A.N.Z.\ T . ~, ■ Tv T. N. Smallwood Joint Managing Directors. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby. —J. H. Fowler, Controller and Auditor-General.

10— B. 1 [Pt. IV].

73

B.—l [PT. IV].

NEW ZEALAND STATE COAL-MINES. Colliery Sales Accounts for the Year ended 31st March, 1938.

Colliery Working Accounts for the Year ended 31st March, 1938.

Colliery Profit and Loss Accounts for the Year ended 31st March, 1938.

McDonald Colliery Profit and Loss Account for the Year ended 31st March, 1938. Dr. £ s, d. Cr. £ s, d. Interest .. .. .. .. .. 1,923 11 4 Rents .. .. . . .. .. 200 5 0 Depreciation .. .. .. .. i, 102 7 5 Royalties ~ . . . . , . . , 4,523 0 8 Access road .. .. .. .. 56 14 8 3,082 13 5 Net profit—Transferred to General Profit and Loss Account .. .. . . .. 1,640 12 3 £4,723 5 8 £4,723 5 8

74

Dr. Liverpool. James. | Or. Liverpool. James. £ s. d. £ s. d. £ s. d. £ s. d. Railway haulage .. .. 11,399 2 11 3,171 16 4 Sales of coal f.o.r., f.o.b., and Wharfage .. .. .. 2,092 2 8 800 18 10 c.i.f. .. .. .. 165,751 12 10 46,538 1 8 Special rate .. .. 672 12 0 258 4 6 Marine freight .. .. 40,572 4 7 10,847 10 2 54,736 2 2 15,078 9 10 Working Account — Coal sales net f.o.r. .. .. .. 111,015 10 8 31,459 11 10 £165,751 12 10 £46,538 1 8 £165,751 12 10 £46,538 1 8

I i Dr. Liverpool. James. Cr. Liverpool. James. I 1 £ s. d. £ s. d. £ s. d. £ s. d. Stocks on hand, 1st April, 1937 681 0 0 400 7 0 Sales Account — Sales of coal Coal-winning— f.o.r. .. .. .. 111,015 10 8 31,459 11 10 Wages .. .. .. 83,934 11 4 24,896 14 0 Sales of stores, &c. .. .. 6,655 8 2 Stores and materials .. 8,527 18 7 1,466 13 3 Stocks on hand at 31st March, Rail and bus fares .. .. 683 17 9 316 3 10 1938, at mine, wharf, and Stores sales (at cost) .. 5,891 3 6 .. afloat .. .. .. 3,200 6 2 833 18 0 Coal purchased .. .. 36 10 10 36 19 11 Electric power .. .. .. 551 11 6 99,755 2 0 27,668 9 6 Gross Profit — To Profit and Loss Account .. .. 21,116 3 0 4,625 0 4 £120,871 5 0 £32,293 9 10 £120,871 5 0 £32,293 9 10

I Dr. Liverpool. James. jj Or. Liverpool. James. £ s. d. £ s. d. £ s. d. £ s. d. Salaries .. .. .. 2,339 19 1 746 14 II Gross profit at mine .. 21,116 3 0 4,625 0 4 Rents .. .. .. .. 59 7 8 Rents .. .. .. 437 4 10 Interest .. .. .. 2,797 8 7 327 14 4 Net loss—Transferred to General Travelling-expenses .. .. 51 26 12157 Profit and Loss Account .. .. 1,1191710 Printing and stationery .. 216 12 1 54 3 0 Repairs and maintenance .. 5,223 13 2 1,662 9 5 Telegrams and postages .. 225 8 6 56 7 2 Insurance ... .. .. 4,121 3 7 1,208 9 5 Coal-miners' Relief Fund .. 284 18 4 77 14 11 General expenses .. .. 691 15 0 165 13 11 Audit fees .. .. .. 148 0 0 37 0 0 Superannuation Fund subsidy 47 9 2 11 17 5 Depreciation .. .. 4,634 3 7 1,167 17 3 Rescue-station levy .. .. 558 0 10 156 13 2 21,339 14 5 5,744 18 2 Net profit — Transferred to General Profit and Loss Account .. .. .. 213 13 5 | £21,553 7 10 £5,744 18 2 £21,553 7 10 £5,744 18 2

B.—l [PT. IV}.

Depot Profit and Loss Accounts for the Year ended 31st March, 1938.

NEW ZEALAND STATE COAL-MINES— continued. Depot Trading Accounts for the Year ended 31st March, 1938.

75

Dr. Wellington. Chrlstcuurch. Gr. Wellington. S Christchukch. £ s. d. £ s. d. £ s. d. £ s. d. Stocks on hand, 1st April, 1937 3,378 7 7 7,428 14 7 Sales of coal .. .. 131,359 17 3 59,349 13 0 Purchases of coal .. .. 121,570 2 8 37,117 4 9 Sales of coke, wood, &c. .. 5,995 18 6 2,636 12 9 Purchases of wood, coke, &c. .. 5,213 0 11 1,812 11 2 Stocks on hand at 31st March, Wharfage and freights .. 1,770 0 5 11 6 2 1938 — Haulage to depot .. .. 721 5 0 18,995 10 11 Coal .. .. .. 3,070 7 5 9,699 8 3 Wages —Discharging .. .. 171 11 4 449 12 8 Wood, coke, &e. .. .. 296 12 11 825 13 4 132,824 7 11 65,815 0 3 Gross profit — To Profit and Loss Account .. .. 7,898 8 2 6,696 7 1 £140,722 16 1 £72,511 7 4 £140,722 16 1 £72,511 7 4 ~— ~ ——

Dr. J Wellington. Christchurch. Wanganui. Cr. Wellington, j Christchurch. i Wanganui. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Wages —Yard .. .. •• 1,170 18 1 1,323 19 7 .. Trading accounts —Gross profit .. 7,898 8 2 6,696 7 1 Salaries .. .. .. •• 1,526 14 1 1,313 19 4 .. Rents .. .. .. .. .. .. 27 10 0 Rents .. .. . • •. 388 160 123 12 0 .. Net loss —To General Profit and Loss Interest .. .. .. .. 252 2 0 103 7 11 .. Account .. .. .. .. .. 4 19 10 Travelling-expenses .. .. .. 118 3 4 85 3 8 Repairs and maintenance .. .. 629 11 1 502 11 4 Postages and telegrams .. .. 86 2 2 72 11 5 Printing and stationery .. .. 79 8 3 102 17 9 Insurance .. .. .. 33 79 43 20 296 Cartage .. .. .. .. 2,177 5 11 2,060 11 5 Sacks .. .. .. .. 91 5 9 106 15 0 General expenses .. .. .. 481 17 5 179 10 11 14 6 10 Audit fees .. .. .. .. 90 0 0 40 0 0 Superannuation Fund subsidy.. .. 13 7 5 18 15 0 Reserve for bad debts .. .. 28 17 1 43 18 10 Rates .. .. .. .. j 86 10 2 Depreciation .. .. .. 350 10 11 144 10 11 15 13 6 7,604 17 5 6,265 7 1 Net profit —To General Profit and Loss Account .. .. .. .. | 293 10 9 431 0 0 j £7,898 8 2 £6,696 7 1 £32 9 10 j £7,898 8 2 £6,696 7 1 £32 9 10 i ===_- ■ = • 1 ■ ■ ■ i ■

B.—l [PT. IV].

NEW ZEALAND STATE COAL-MlNES—continued. General Profit and Loss Account for the Year ended March 31st, 1938. Dr. Cr. Net loss — £ s. d. £ s. d. Net profit— £ s. d. £ s. d. James Colliery .. .. 1,119 17 10 Liverpool Colliery .. .. 213 13 5 Wanganui Depot .. .. 4 19 10 Mac Donald Colliery .. .. 1,640 12 3 1,124 17 8 Wellington Depot .. .. 293 10 9 Balance—Net profit for year carried down .. 13,168 1 3 Christchurch Depot .. .. 431 0 0 2,578 16 5 Net recoveries— Seddonville Colliery .. .. 78 6 4 Royalties .. .. .. 5,480 11 3 5,558 17 7 Net revenue from hire of plant, buildings, &c. .. 87 9 6 Interest on investments .. .. .. 6,067 15 5 £14,292 18 11 £14,292 18 11 £ s. d. £ s. d. Sinking Fund Account for redemption of loan Net profit for year .. .. .. .. 13,168 1 3 capital .. .. .. .. .. 9,523 17 11 Balance—Net surplus for year .. .. 3,644 3 4 £13,168 1 3 £13,168 1 3

76

B.—l [PT. IV].

NEW ZEALAND STATE COAL-MINES— continued. Statement of Colliery Property Accounts as at 31st March, 1938.

77

Liverpool. Jambs. | MacDonalo. j New Mine —Nine-mile Area. Totals. . I I i ■ ! Development and Property Account — £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Balance at 1st April, 1937 .. .. .. 37,567 6 9 4,954 19 2 47,706 6 2 20,881 19 1 Additions during year ........ .. .. .. 38,410 19 11 59,292 19 0 Less provisionally written off ...... .. .. .. 9 15 6 Ordinary depreciation .. .. .. 1,344 3 9 3,409 1 8 1,102 7 5 36,223 3 0 1,545 17 6 - 46,603 18 9 59,283 3 6 143,656 2 9 Electrical Plant Account —- Balance at 1st April, 1937 .. .. .. .. 2,744 15 10 Additions ». .. .. .. .. .. 239 12 9 2,984 8 7 Depreciation .. .. .. .. .. 357 13 5 2,626 15 2 .. .. 2,626 15 2 Machinery, plant, ropes, and rolling-stock — Balance at 1st April, 1937 .. .. .. 23,758 0 7 3,055 3 1 .. 1,799 2 0 Plus transferred from other accounts .. .. 6 0 0 100 1 8 .. 213 8 3 Additions .. .. .. .. .. 2,138 5 6 381 15 6 13,365 0 8 25,902 6 1 3,537 0 3 .. 15,377 10 11 Sales .. .. .. .. .. 4 12 6 63 9 6 25,897 13 7 3,473 10 9 Transfers to other accounts .. .. .. 324 13 7 6 0 0 25,573 0 0 3,467 10 9 Depreciation .. .. .. .. 2,546 19 2 676 19 2 23,026 0 10 Less provisionally written off .. .. .. 115 13 6 22,910 7 4 2,790 11 7 .. 15,377 10 11 41,078 9 10 Buildings at mine — Balance at 1st April, 1937 .. .. .. 5,517 12 11 859 17 1 .. 1,776 13 6 Additions during the year ...... .. .. .. 1,918 1 5 5,517 12 11 859 17 1 .. 3,694 14 11 Depreciation .. .. .. .. 366 5 10 133 4 8 5,151 7 1 726 12 5 .. 3,694 14 11 9,572 14 5 Carried forward .. .. .. .. £64,284 17 5 £7,689 16 8 £46,603 18 9 £78,355 9 4 £196,934 2 2

B.—l [Pt. IV].

NEW ZEALAND STATE COAL-MINES— continued. Statement of Colliery Property Accounts as at 31st March, 1938— continued.

Statement of Depot Property Accounts as at 31st March, 1938.

78

Liverpool. James. MacDonald New Mine — Nine-milk Area. Totals* £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Brought forward .. .. .. .. 64,284 17 5 .. 7,689 16 8 .. 46,603 18 9 .. 78,355 9 4 196,934 2 2 Cottages at mine — Balance at 1st Aprils 1937 .. .. . . 3,300 13 3 Additions during the year ...... 22 8 4 3,323 1 7 Ordinary depreciation .. .. .. 261 14 3,062 0 3 .. .. .. 3,062 0 3 Plantation at mine —Balance at 1st April, 1937 .. .. 167 10 5 .. .. .. 716 15 3 .. 884 5 8 Coal (stock on hand at mine, wharf, and afloat) .. .. 3,200 6 2 .. 833 18 0 .. .. . . 4,034 4 2 Stores (stock on hand) .. .. .. .. 18,187 18 3 Less provisionally written off .. .. .. 50 11 4 18,137 6 11 .. .. .. 18,137 6 11 £88,852 1 2 £8,523 14 8 £47,320 14 0 £78,355 9 4 £223,051 19 2

Wellington. Christchurch. Wangaiuji. Totals. Depot Property Account— £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ 3. d. Balance at 1st April, 1937 .. .. .. .. .. .. 6,384 8 4 2,250 14 2 194 19 5 Additions during the year .. .. .. .. .. .. 272 15 4 827 6 3 6,657 3 8 3,078 0 5 194 19 5 Sales .. .. .. .. .. .. .. .. 0 5 0 25 0 0 30 10 9 6,656 18 8 3,053 0 5 164 8 8 Depreciation .. .. .. .. .. .. .. 329 1 10 144 10 11 15 13 6 6,327 16 10 148 15 2 j Less provisionally written off .......... 35 3 10 .. 44 9 3 6,292 13 0 2,908 9 6 ! 104 5 11 9,305 8 5 Stocks and stores on hand .. .. .. .. .. .. 3,798 17 5 12,124 14 4 Less provisionally written off .. .. .. .. .. 279 12 5 1,530 17 8 — 3,519 5 0 ' 10,593 16 8 .. 14,113 1 8 £9,811 18 0 £13,502 6 2 j £104 5 11 £23,418 10 1

B.— 1 [PT. IV].

NEW ZEALAND STATE COAL-MlNES—continued. Statement of Receipts and Payments for the Yeab ended 31st March, 1938. Receipts. Payments. Cash in Public Account at Ist f s. d. £ s. d. James Colliery — £ s. d. £ s. d. April, 1937 .. .. .. .. 27,602 10 7 Wages .. .. .. 25,367 0 9 Proceeds sale of coal, &c. .. 258,672 0 6 Special rate .. .. .. 287 10 3 Recoveries, refunds, &c. .. 2,131 14 4 Coal purchased .. .. 34 0 0 Royalties .. .. .. 10,322 19 8 Subsidized bus-fares .. .. 383 0 3 «— 271,126 14 6 Electric power .. .. 579 8 5 Interest .. .. .. .. 1,601 15 10 — — 26,650 19 8 Investments realized .. .. .. 42,800 0 0 Liverpool CollieryDishonoured cheques recredited .. .. 35 5 5 Cottages .. .. .. 17 15 0 Repayment of housing loans .. .. 854 5 8 Wages .. .. .. 83,731 5 6 Special rate .. .. .. 740 7 6 Railway tickets .. .. 1,811 17 0 Coal purchased .. .. 32 2 7 86,333 7 7 Development of new mine — Ninemile Area .. .. .. .. 26,198 17 6 Housing loans .. .. .. .. 610 0 0 Plant and stores .. .. .. 46,507 5 9 Seddonville Colliery Account .. .. 112 6 Wellington Depot Account .. .. 17,118 18 7 Christchurch Depot Account .. 27,824 7 7 Wanganui Depot Account .. .. 40 11 4 Coal purchased on account of depots (Suspense Account) .. .. 677 15 10 Cargo adjustments (co-operative coal) ' .. .. .. .. 118 0 Superannuation Fund subsidy .. 110 14 5 Management and office salaries .. 5,993 0 3 Interest .. .. .. 2,856 3 7 Travelling-expenses .. .. 58 4 2 Printing and stationery .. 320 19 10 Repairs and maintenance .. 3,648 12 5 Wharfage .. .. .. 3,147 6 3 Railway haulage .. .. 14,326 13 7 Marine freights .. .. 51,030 3 4 Postages and telegrams .. .. 284 15 6 Insurances .. .. .. 41 13 10 Rents .. .. .. 93 10 8 Compensation .. .. .. 6,376 12 9 Coal-miners' Relief Fund .. 364 1 2 General expenses .. .. 857 3 5 Sinking Fund instalment .. 9,523 17 11 Audit fees .. .. ~ 315 0 0 Cheques dishonoured .. .. 35 5 5 Rescue-station levy .. .. 714 14 0 100,098 12 6 Cash in Public Account at 31st March, 1938 .. .. 11,956 5 2 £344,020 12 0 £344,020 12 0

79

B.—l [ PT. IV],

NEW ZEALAND STATE COAL-MINES— continued. Balance-sheet as at 31st March, 1938. Liabilities. Assets. Loan capital— £ s. d. £ s. d. Collieries. £s. d. £ s. d. Securities at 3£ per cent. .. .. .. .. .. 416 13 4 Development and property accounts .. .. .. 143,665 18 3 Securities at 4 per cent. .. .. .. .. .. 68,826 13 4 Machinery, plant, ropes, and rolling-stock .. .. .. 41,194 3 4 69,243 6 8 Electrical plant (James Colliery) .. .. .. .. 2,626 15 2 Accrued interest on loan capital .. .. .. .. 362 0 10 Buildings at mines .. .. .. .. .. .. 9,572 14 5 Cottages at mines .. .. .. .. .. .. 3,062 0 3 Departmental. Sundry. Plantations at mines .. .. .. .. .. 884 5 8 Sundry creditors— £ s. d. £ s. d. Coal stocks (bins, wharf, and afloat) .. .. .. .. 4,034 4 2 Liverpool Colliery .. .. 3,853 10 4 11,857 11 6 15,711 1 10 Stores on hand .. .. .. .. .. .. 18,187 18 3 James Colliery .. .. .. 524 0 2 524 0 2 Wellington Depot .. .. 11 6 0 532 4 0 543 10 0 223,227 19 6 Christchurch Depot .. 4,030 1 1 345 6 9 4,375 7 10 Less provisionally written off .. .. .. .. 176 0 4 Wanganui Depot .. .. 1 13 4 4 16 8 6 10 0 223,051 19 2 New Mine .. .. .. 795 17 1 795 17 1 Plant, equipment, &e., on hire .. .. .. .. .. 316 11 1 Mac Donald Colliery .. 56 14 8 .. 56 14 8 Depots— Property Accounts .. .. .. .. .. .. 9,385 1 6 7,953 5 5 14,059 16 2 22,013 1 7 Stocks and stores on hand .. .. .. .. .. 15,923 11 9 Deposits on contracts .. .. .. .. .. .. 1,110 0 0 Sinking Fund .. .. .. .. .. .. .. 9,525 10 0 25,308 13 3 Reserves— Less provisionally written off .. .. .. .. 1,890 3 2 General Reserve .. .. .. .. .. .. 206,938 2 1 23,418 10 1 Bad Debts Reserve .. .. .. .. .. 904 13 6 Sinking Eund investments .. .. .. .. .. .. 9,525 10 0 Accident Insurance Reserve .. .. .. .. .. 7,710 16 10 Housing advances to workmen .. .. .. .. 7,399 4 10 215,553 12 5 Interest accrued due .. .. .. .. .. 89 15 7 General Profit and Loss Account— 7,489 0 5 Net surplus for year .. .. .. .. .. .. 3,644 3 4 Interest accrued due on investments .. .. .. .. .. 31 8 8 Departmental. Sundry. Sundry debtors— £ s. d. £ s. d. Liverpool Colliery .. .. 1,902 17 6 4.411 6 5 6,314 3 11 James Colliery .. .. .. 10 0 10 1 18 9 11 19 7 Mac Donald Colliery .. .. .. 814 4 1 814 4 1 Wellington Depot .. .. 403 16 2 34,430 13 1 34,834 9 3 Christchurch Depot .. .. 168 14 1 2,522 10 6 2,691 4 7 2,485 8 7 42,180 12 10 44,666 1 5 Less provisionally written off .. .. .. .. 113112 44,552 10 3 Cash in Receiver-General's Deposit Account .. .. .. .. .. 1,110 0 0 Cash in Public Account .. .. .. .. .. .. .. 11,956 5 2 £321,451 14 10 £321,451 14 10 State Coal-mines Office, Wellington, C. 1. C. H. Benney, Accountant. P. C. Webb, Minister of Mines. I hereby certify that the attached Working and Profit and Loss Accounts of Depots and Collieries, General Profit and Loss Account, and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby— J. H. Fowler, Controller and Auditor-General.

80

B.—l [PT. IV].

STATE FIRE INSURANCE OFFICE. Revenue Account op the Accident Branch of the State Fire Insurance Office for the Year ended 31st December, 1937. £ s. d. £ 8. d. Premiums after deduction of reinsurances .. 147,719 7 0 Free-year bonus on personal accident policies .. 268 14 8 £ s. d. Claims .. .. .. .. .. 99,501 12 2 Interest .. .. .. 15,836 14 6 Commission .. .. .. .. 7,428 17 9 Less land and income tax .. 5,416 15 0 Salaries .. .. .. .. .. 16,697 4 1 10,419 19 6 Contribution to Public Service Superannuation Profit on realization of securities .. .. 131 14 1 Fund .. .. .. .. .. 197 15 11 Expenses of management .. .. .. 5,794 6 8 Further appropriation to reserve for unearned premiums .. .. .. .. 17,035 8 4 146,923 19 7 Further appropriation to reinsurance reserve .. 10,000 0 0 Amount of Accident Funds, 31st December, 1937 1,347 1 0 £158,271 0 7 £158,271 0 7 Balance-sheet of the Accident Branch of the State Fire Insurance Office as on the 31st December, 1937. Liabilities. £ s. d. Assets. £ s. d. Accident funds, as per Revenue Account .. 1,347 1 0 Government securities .. .. .. 202,494 17 1 Outstanding accident claims .. .. .. 79,281 0 0 Local-authority securities .. .. .. 184,955 811 Government taxes .. .. .. .. 11,916 15 0 Rural Advances bonds .. .. .. 14,425 0 0 Commission .. .. .. .. 2,375 3 8 Property under agreement for sale and purchase.. 3,980 0 0 Premium and other deposits .. .. .. 649 18 1 Fixed deposits and at short call .. .. 12,620 0 0 Sundry creditors .. .. .. .. 86 5 2 Interest accrued but not due .. .. .. 3,921 10 2 Reinsurance premiums due .. .. .. 216 10 6 Agents'balances .. .. .. .. 6,287 14 9 Officers' Fidelity Fund .. .. .. 500 0 0 Sundry debtors, including Motor-vehicles InsurReserve for unearned premiums .. .. 73,859 13 6 ance (Third-party Risks) Act pool .. .. 91,796 4 1 Investment Fluctuation Reserve .. .. 41,000 0 0 Cash in hand on current account .. .. 6,124 8 8 Reinsurance Reserve .. .. .. 40,000 0 0 Bad Debts Reserve .. . . .. .. 1,000 0 0 Reserve Fund constituted under section 6 of the Government Accident Insurance Amendment Act, 1924 .. .. .. .. 274,372 16 9 £526,605 3 8 £526,605 3 8 J. H. Jerram, General Manager. L. H. Osborn, Deputy General Manager. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— J. H. Fowler, Controller and Auditor-General. Revenue Account of the State Fire Insurance Office for the Year ended 31st December, 1937. £ s. d. £ s. d. Premiums after deduction of reinsurances .. 175,725 18 3 Bonus rebate to policyholders .. .. 33,379 4 3 Other receipts— £ s. d. Losses by fire and earthquake (after deduction of Interest, commission, and rent 49,682 19 6 reinsurances) .. .. .. .. 34,794 14 4 Less land-tax .. .. 1,958 7 6 Income-tax .. .. .. .. 35,454 0 0 47,724 12 0 Commission .. .. .. .. 9,632 3 7 Salaries .. .. .. .. .. 30,976 6 6 Contribution to Public Service Superannuation Fund .. .. .. .. .. 473 5 5 Contributions to Fire Boards under the Fire Brigades Act, 1908 .. .. .. 9,602 7 4 Expenses of management — £ s. d. Travelling-expenses .. .. 2,189 0 9 Printing, stationery, and advertising .. .. 1,440 6 1 Rent .. .. .. 1,176 5 7 Exchange .. .. .. 43 15 8 Postages, telegrams, cablegrams, and sundry charges .. 3,253 310 8,102 11 11 Office equipment .. .. .. .. 1,424 22 Office premises: Depreciation .. .. 3,172 12 5 167,011 7 11 Reinsurance Reserve .. .. .. 30,000 0 0 Office premises—Written off .. .. .. 26,000 0 0 Amount of fire-insurance funds at end of year .. 439 2 4 £223,450 10 3 £223,450 10 3

11— B. 1. [Pt. IV].

81

B.—l [PT. IV].

STATE FIRE INSURANCE OFFICE —continued. Balance-sheet of the State Fire Insurance Office on the 31st December, 1937. Liabilities. Assets. Capital authorized by the State Fire £ £ s. d £ s. d. Insurance Act, 1908 .. .. 100,000 Government securities .. .. .. 643,671 12 0 Less not raised .. .. .. 100,000 Local-authority securities .. .. .. 276,163 19 0 Nil. Rural Advances bonds .. .. .. 14,175 0 0 Bad Debts Reserve .. .. .. .. 1,500 0 0 Fixed deposits and at short call .. .. 70,000 0 0 Reserve Fund .. .. .. .. 746,144 8 8 Land and buildings . . .. .. .. 136,190 211 Investments Fluctuation Reserve Fund .. 59,000 0 0 Outstanding premiums .. .. .. 11,1285 1 Reserve for unearned premiums .. .. 104,246 9 11 Interest accrued but not due .. .. .. 9,310 0 9 Bonus Rebate Reserve .. .. .. 112,500 0 0 Rent accrued or due .. .. .. 2,575 9 10 Reinsurance Reserve Fund .. .. .. 90,000 0 0 Rent overdue .. .. .. .. 138 0 0 Premium and other deposits .. .. .. 1,054 9 10 Cash in Reserve Bank of New ZeaOutstanding fire and earthquake losses .. 4,509 0 0 land at Wellington, or in transit £ s. d. Government taxes .. .. .. .. 70,454 0 0 to Wellington .. .. 93,372 211 Sundry creditors .. .. .. .. 55,769 2 7 Imprest Account balances: Head Other amounts owing by the Office — £ s. d. Office and branches .. .. 581 9 6 Reinsurance premiums due .. 7,087 13 9 —— 93,953 12 5 Commission .. .. 2,551 7 4 Printing, stationery, and advertising .. .. 34 6 11 Postages and sundry charges .. 2,016 0 8 11,689 8 8 Fire-insurance funds, as per Revenue Account .. 439 2 4 £1,257,306 2 0 £1,257,306 2 0 J. H. Jerram, General Manager. L. H. Osborn, Deputy General Manager. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. — J. H. Fowler, Controller and Auditor-General.

TEACHERS' SUPERANNUATION FUND. Revenue Account foe the Year ended 31st January, 1938. £ s. d. £ s. d. Balance 31st January, 1937 .. .. .. 964,604 16 5 Retiring and other allowances .. .. 328,007 9 4 Contributions of members .. .. .. 139,248 18 7 Contributions refunded — £ s. d. Contributions transferred from other funds .. 342 6 2 On voluntary retirement .. 28,252 8 4 Additional contribution from Fiji Government in On death of members .. 6,971 17 11 respect to teachers in Fiji schools .. .. 244 7 2 On lapse of membership .. 868 13 11 Government subsidy— £ s. d. 36,093 0 2 Under the Act, section 112 .. 43,000 0 0 Rebate of contributions to annuitants on retireUnder the Act, section 114 .. 5,277 9 4 ment under National Expenditure Adjustment On account of reduction of Act, 1932, section 9 (2) .. .. .. 219 12 1 interest during year ended Contributions transferred to other funds .. 29 3 11 31st March, 1937, under Administration expenses— £ s. d. National Expenditure Ad- Commission, G.P.O. .. 632 12 0 justment Act, 1932 .. 6,547 0 0 Commission, Public Trustee .. 1,302 12 8 54,824 9 4 Clerical assistance .. .. 900 0 0 Interest— Postage and telegrams .. 100 0 0 On investments .. .. 42,630 0 6 Office expenses .. .. 120 18 10 On contributions in arrears .. 433 12 8 Travelling-expenses of Board members .. .. 61 19 6 43,063 13 2 Medical fees .. .. 40 19 0 Less investments written Audit fees .. .. 50 0 0 down (proportion of 3,209 2 0 premium on purchase Balance, 31sfc January, 1938 .. .. 834,465 9 6 of investments) .. 304 13 10 42,758 19 4 £1,202,023 17 0 £1,202,023 17 0 COST-OF-LIVING BONUS ACCOUNT FOR THE YEAR ENDED 31st JANUARY, 1938. £ s. d. £ s. d. Refund from Consolidated Fund .. .. 1,568 8 9 Balance due from Consolidated Fund, January, 1937 266 13 1 Balance due from Consolidated Fund 31st January, Payment of bonus .. .. .. .. 1,562 3 6 1938 .. .. .. .. .. 260 7 10 £1,828 16 7 £1,828 16 7

82

B.—l [PT. IV].

TEACHERS' SUPERANNUATION FUND—continued. Balance-sheet as at 31st January, 1938. Liabilities. £ s. d. Assets. Fund as per Revenue Account .. .. 834,465 9 6 Amount held by Public Trustee— £ s. d. £ a. d. Retiring and other allowances due and unpaid .. 2,523 12 11 Invested .. .. .. 961,442 7 7 Refund of contributions due and unpaid .. 512 5 6 Uninvested .. .. 2,971 7 3 Administration expenses unpaid— 964,413 14 10 Commission, Post and Tele- £ s. d. Premium paid on purchase of graph Department .. 206 14 6 Investments .. .. 3,439 22 Clerical assistance .. .. 750 0 0 Less amount written off .. 304 13 10 Postage and telegrams .. 83 6 8 3,134 8 4 Office expenses, printing, and Amounts paid to protect securities .. 143 13 4 stationery .. .. 15 0 4 Contributions of members — Audit fee .. .. .. 41 13 4 In transit .. .. .. 2,153 8 5 Medical fees .. .. 11 11 0 Due and outstanding .. 3,793 19 9 1,108 5 10 5,947 8 2 Unclaimed contributions .. .. 1,409 13 4 Funds in transit (for refund of Amounts paid into fund in error .. 87 9 10 contributions due London in Government subsidy—Statutory February) .. .. .. 123 7 8 grant received in advance for Interest on investments— 1938 .. .. .. 39,416 13 4 Due and outstanding .. .10,320 11 5 Less additional subsidy under sec- Accrued, but not due .. 11,192 13 0 tion 114 of Act not yet received 406 1 9 21,513 4 5 Less additional subsidy under sec- Interest on arrears of contribution 114, receivable in respect tions due and outstanding to allowances outstanding at (contributors) .. .. .. 269 13 3 31st January, 1938 .. .. 173 4 3 Due by Consolidated Fund for 38,837 7 4 Cost-of-living Bonus .. .. 260 7 10 Rent received from securities leased (held for rates and expenses) .. .. .. .. 299 18 9 Reserve— For commission payable to Public Trustee in respect to interest due or accrued .. 713 0 0 For commission to Post and Telegraph Department in respect to vouchers issued but unpaid .. .. . . 40 13 0 For cost of actuarial examination .. .. .. 20 0 0 773 13 0 Reserve for loss on investments —• Balance at 31st January, 1937 3,049 910 Less interest written off .. 173 7 6 Less capital written off .. 374 10 11 2,501 11 5 Account with Post Office overdrawn at 31st January, 1938 .. 92,119 6 9 Vouchers issued but unpaid .. 21,167 3 8 113,286 10 5 £995,805 17 10 £995,805 17 10 Notes. —Since the closing of the accounts for the year the Government has given a further subsidy on account of the loss suffered by the reduction of interest under the provisions of the National Expenditure Adjustment Act, 1932, during the year to 31st March, 1938. The amount for the period to 31st January, 1938, not included in the year's accounts, is £5,270. Since closing the Accounts for the year a further Government subsidy of £123,000 has been paid to the Fund. The liability under section 9 (2) of the National Expenditure Adjustment Act, 1932, as amended by section 25 of the Finance Act (No. 2), 1932-33, in respect to the rebate to those contributors who did not elect to continue to contribute on the higher rate of salary before the reductions in 1932 has not been taken into account in the foregoing statement. The benefit (which is payable upon retirement) will amount in the aggregate, to approximately £30,000 ; but the additional liability is only approximately £5,000, as the remaining £25,000 would, in any case, be refunded as contributions in the ordinary way upon retirement before full age or service. C. E. Crawford, A.R.A.N.Z., Secretary, Teachers' Superannuation Board. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the departmental notes enfaced thereon, and to the following comment: There is no statutory authority for the Board to borrow moneys by way of overdraft from the Post Office Account. J. H. Fowler, Controller and Auditor-General.

12— B. 1 [Pt. IV].

83

B.—l [PT. IV].

TREASURY DEPARTMENT. Income and Expenditure Account foe the Year ended 31st March, 1938. Expenditure. £ s. d. Income. £ s. d. Salaries .. .. .. .. .. 30,759 6 1 New Zealand stock fees .. .. .. 1,825 9 6 Overtime and meal allowances .. .. 150 5 3 Commission .. .. .. .. .. 60 17 9 Legal and professional expenses .. .. 6 16 6 Recovery on account of expenditure of previous Printing and stationery .. .. .. 3,790 4 5 years .. .. .. .. .. 15 3 9 Office requisites .. .. .. .. 144 22 Balance carried down.. .. .. .. 96,453 18 3 Advertising, books, &c. .. .. .. 106 4 8 Office and sundry expenses .. .. .. 313 9 Travelling-expenses .. .. .. 440 1 7 Postage and telegrams .. .. .. 2,437 2 5 Telegrams beyond the Dominion .. .. 1,073 18 2 Telephone services .. .. .. .. 346 15 10 Annual rental value of premises .. .. 2,538 0 0 Rent, Dunedin office .. .. .. .. 86 3 8 Fees, allowances, &0., Local Government Loans Board .. .. .. .. .. 285 11 1 Bank exchange and commission .. .. 80 15 4 Loss on furniture, &c., sold .. .. .. 2 10 6 Public debt expenses— Management expenses .. .. .. 52,475 15 5 Costs, charges, and expenses of raising and converting loans .. .. .. .. 11 5 6 Stamp duty on transfers .. .. .. 3,231 6 0 Depreciation— £ s. d. Office furniture .. .. .. 220 13 6 Mechanical appliances .. .. 148 18 5 Library .. .. .. 15 19 0 385 10 11 £98,355 9 3 £98,355 9 3 £ s. d. £ s. d. Balance brought down .. .. .. 96,453 18 3 Excess of expenditure over income .. .. 96,504 14 8 Interest on capital .. .. .. .. 50 16 5 £96,504 14 8 £96,504 14 8 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Capital .. .. .. .. .. 1,379 11 7 Office furniture, fittings, and equipment.. .. 691 13 2 Creditors— £ s. d. Mechanical appliances .. .. .. 474 8 6 Departmental .. .. .. 281 8 5 Library .. .. .. .. .. 213 9 11 Sundry .. .. .. 102 6 3 Stock of stamps .. .. .. .. 367 — 383 14 8 Debtors— £ s. d. Writing-off reserve .. .. .. .. 210 6 Departmental .. .. .. 168 6 3 Treasury Adjustment Account .. .. 96,376 13 6 Sundry .. .. .. 70 810 238 15 1 Expenses paid in advance .. .. .. 13 11 10 Assets in suspense .. .. .. .. 210 6 Excess of expenditure over income .. .. 96,504 14 8 £98,142 10 3 £98,142 10 3 A. R. F. Mackay, M.Com. (N.Z.), Ph.D. (Loncl.), Assistant Accountant to the Treasury. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at the commencement of parliamentary return 8.-l [Pt. IV]. —J. H. Fowler, Controller and Auditor-General.

84

B.—l [PT. IV].

BANK OF NEW ZEALAND SHARES ACCOUNT. Income and Expenditure Account fob the Year ended 31st March, 1938. Expenditure,. £ s. d. Income. £ s. d. Interest on consolidated stock .. .. 32,500 0 0 Dividends declared for the year .. .. 164,062 10 0 Management charges on consolidated stock .. 257 10 9 Excess of income over expenditure .. .. 131,304 19 3 £164,062 10 0 £164,062 10 0 Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Loan capital, New Zealand Consolidated Stock —• Bank of New Zealand shares (at nominal value) — 3|-per cent., 1940 .. .. .. 500,000 0 0 500,000 preference A shares .. .. 500,000 0 0 4 per cent.. 1943-63 .. .. .. 375,000 0 0 1,375,000 preference B shares .. .. 1,375,000 0 0 Consolidated Fund capital .. .. .. 984,375 0 0 234,375 long-term mortgage C shares .. 234,375 0 0 Capital reserve .. .. .. .. 250,000 0 0 Dividends declared but not paid .. .. 75,781 5 0 Accrued interest on consolidated stock .. 6,650 13 9 Treasury Adjustment Account .. .. 62,174 8 0 Excess of income over expenditure .. .. 131,304 19 3 £2,247,330 13 0 £2,247,330 13 0 A. R. F. Mackay, M.Com. (N.Z.), Ph.D. (Lond.), Assistant Accountant to the Treasury. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV]. —J. H. Fowler, Controller and Auditor-General.

Approximate Cost of Paper.—Preparation, not given ; printing (547 copies), £132 10s.

Authority: E. V. Paul, Government Printer, Wellington —1938.

Price Is. 9d.~\

85