D.—s

2

The amounts shown in the list attached to the balance-sheet are those actually disbursed during the year, and do not represent the total annual allowances granted by the Board to the 31st March, 1911, which were, — £ s. d. Life allowances on account of voluntary retirements (706 persons) 50,334 13 7 Life allowances on account of retirements as " medically unfit" (116 persons) ... ... ... ... ... 6,892 10 1 Allowances to 175 widows and 344 children ... ... ... 7,634 18 0 Total annual allowances granted ... ... £64,862 1 8 One hundred and forty-one beneficiaries have, however, died since the inauguration of the Fund, including thirty-four during the year under review, and eight members who had been placed on the Fund as "medically unfit" resumed duty. The Fund was relieved of an annual liability of £8,890 15s. Bd. in respect to these one hundred and forty-nine members. One hundred and three children have reached the age of fourteen years (twenty-six during the past year), four children have died, seventeen widows remarried (three during the past year), and seven widows died, lessening the liability of the Fund by an additional £1,827 os. 3d. per annum. One thousand and sixty-one persons were actually on the Fund at the 31st March, 1911, involving an annual liability of £54,144 ss. 9d. J. A MILLAK, Minister of Eailways, Chairman of the Board of Administrators. Hkvknue Account of the Government Eailways Superannuation Fund under Section 90 of the Government Eailways Act, 1908, for the Year ended 31st March, 1911. Dr. i. s. d. Or. £ s. d. t a. d. To Balance brought forward on let April, By Life allowances paid 45,762 12 7 1910 .. .. .. .. 173,876 1 8 Life allowances due Contributions paid .. £57.008 fill not paid.. .. 66 011 Contributionsdue not 45.829 9 b paid .. .. 3,860 9 4 Allowances to widows 60.868 16 3 and orphans paid.. fc5,740 16 11 Fines paid.. .. £560 2 6 Allowances to widows Fines due not paid .. 13 10 0 and orphans due 573 12 6 not paid.. .. 7 16 Allowance overpaid refunded .. 17 8 5,747 18 5 Donation .. .. .. .. 110 0 Payments under section 86 (c) .. 216 16 3 Payment from Consolidated Fund .. 25.000 0 0 Payments under section 82 (6) .. 784 10 6 Interest received .. €9,219 14 9 Contributions reInterest accrued not funded .. .. £8,749 18 0 paid .. .. 2,530 3 7 Contributions due to — be refunded not paid 254 1 S 11,749 18 4 9.003 19 3 Leas interest accrued Fines refunded .. .. .. 3 5 0 31et March, 1910.. 2,508 6 0 Travelling - expenses of members of 9,241 11 10 Board .. .. .. .. 47 15 0 Contributions transferred to Public Service Superannuation Fund .. 121 5 7 Public Trust Office commission .. 565 19 6 Amount of Fund at close of year .. 207,242 711 £269,562 19 11 £269,562 19 11 Examined and found correct. —Eobert J. Collins, 14th June, 1911. Controller and Auditor-General Balance-sheet of the Government Eailways Superannuation Fund under Section 90 of the Government Eailways Act, 1908, for the Year ended 31st March, 1911. Liabilities. Assets. £ s. d. £ s. d. £ s. d. Fund e.n per Revenue Account above .. 207,242 711 In hands of Public Life allowances not paid .. £66 'J 11 Trustee .. .. 201,165 17 8 Widows' allowances not paid 7 16 Interest accrued not 73 11 5 due .. .. 2,530 3 7 Contributions duo to be refunded not 203,696 1 3 paid .. .. .. ' .. 254 1 3 Contributions and fines in transit.. .. 3,873 19 4 £207,570 0 7 £207,570 0 7 J. A. Millar, Chairman of the Government Eailways H. Davidson, Superannuation Fund Board. Chief Accountant, New Zealand Eailways. Examined and found correct. —Eobekt J. Collins, 14th June, 1911. Controller and Auditor-General.