E.—l

111

Expenditure —continued.

Assets.

Liabilities.

Jas. A. Bonab, Chairman. E. T. Eobinson, Secretary. I hereby certify that I have examined the above statement, compared it with vouchers, cashbook, bank pass-book, and other documents, and to the best of my belief find the same to be correct and according to law.—W. A. Spence, District Auditor. 4th May, 1885.

OTAGO. Sib,— Dunedin, 6th May, 1885. In pursuance of Order in Council of date 17th December, 1878, and in accordance with Circular No. 84/17, dated the 3rd January, 1885, I have the honour to forward report of the School Commissioners of the Provincial District of Otago for the year ended 31st December, 1884. During the year the Crown Lands Department, on behalf of the School Commissioners, sold 458 acres of land for cash, and 1,258 acres on deferred payment, averaging 545. sfd. and 555. 9d. per acre respectively. It also leased for the Commissioners 3,423 acres on perpetual lease in terms of " The Land Act, 1882," at an annual rental of £377 2s. Bd., or at an average of 2s. 2Jd. per acre During the year the Commissioners received from sales of land the sum of £18,481 12s. 7d., which, with £3,505 2s. 2d. received on account of sales during the previous year, amounted to £21,986 14s. 9d. Of this sum they have lent £21,102 12s. 7d. on freehold securities, as provided for by section 57 of "The Land Act, 1882," at rates of interest ranging from 6 per cent, to 8 per cent, per annum. They also leased during the year under " The Education Eeserves Act, 1877," 16 town, 16 suburban, 5 pastoral and 15 agricultural sections, in various parts of the provincial district, at an annual rental of £470 12s. 6d. A considerable number of the new leases were entered into in the latter end of the month of June, and the rents were made payable in advance in December and June in each year; except in a few cases the rents due in December are not paid until after the close of the year, and consequently appear in the balance-sheet as outstanding on the 31st December. Of the amount, £2,328 6s. Id., shown in the statement under the heading of " total assets " on the 31st December, 1884, £644 12s. 2d. has been paid during the first quarter of the present year. A large portion of the interest on mortgages only becomes due on the 21st December, and as a rule is not paid until after the close of that month. The Statement of Eeceipts and Expenditure, duly audited, was forwarded to the Education Department on the 29th ultimo. I have, &c, The Hon. the Minister of Education. ■ J. P. Maitland, Chairman.

!y Legal expenses Payments towards secondary education— Hokitika High School Board Greymouth High School Board Deposit account, Bank of New Zealand Interest on fixed deposit for 1883-84 debited last year but added to deposit account ... Credit balances of account on 31st December, 1884—Purchase account ... ... £ s. a. & s. a. 55 17 0 £ s. a. 55 17 0 634 11 0 634 11 0 200 0 0 634 11 0 634 11 0 200 0 0 60 10 0 60 10 0 24 13 1 .70 11 3 95 4 4 Total expenditure... 103 19 0 1,720 5 8 1,824 4 8

£ s. a. £ s. a. £ s. a. ialance of cash on 31st December, 1884— Purchase account xrears on 31st December, 1884—■ Arrears of years prior to 1882 ... Arrears of year 1882 ... Arrears of year 1883 ... Arrears of year 1884 ... 24 13 1 14 0 0 70 11 3 68 15 0 16 0 0 20 0 0 45 0 0 95 4 4 82 15 0 16 0 0 20 0 0 275 12 5 230 12 5 Total assets 269 5 6 220 6 3 489 11 9

>ebit balance rent account, 31st December, 1884 'wing to secondary account ialance £ s. d. 43 8 8 225 16 10 £ s. a. 8 5 9 £ s. a. 51 14 5 225 16 10 212 0 6 212- "0 6 Total liabilities ... 269 5 6 220 6 3 489 11 9