17

E.—7

In order to provide for the upkeep of the science laboratories and the general expenses of the College, the Council has had to draw largely on its Reserve Fund. If existing conditions continue that fund will be exhausted at the end of 1912, by which time the Council estimates that its annual expenditure will exceed its annual revenue by at least £1,000, and that it will be without any capital whatever at its disposal. Ihe Council cannot too strongly urge the necessity not only for further financial support for the immediate needs of the College, but also for the adoption by the Legislature of some definite scheme for the adequate endowment of Victoria College in common with the other University Colleges. An educational establishment to be of any value must continually expand, and expansion is impossible without an increased revenue. A copy of the statement of receipts and expenditure and assets and liabilities (monetary) is enclosed herewith. (has. P. Powlks, Registrar. Statement of Receipts and Expenditure for the Year ended 31st March, 1911. Receipts. £ s. A. Expenditure. £ s. d. Balance brought forward .. .. 3,150 1 7 Salaries .. .. .. .. 6,187 0 1 From Government — Registrar and Librarian .. .. 367 4 5 (a.) Statutory grant .. .. 4,000 0 0 Office expenses.. .. .. .. 18 9 2 (6.) Grant for general purposes 1,500 0 0 Caretaker and sundries .. .. .. 141 16 3 (c.) Grant for subsidy on donations .. 100 0 0 Prntiug, advertising, and stationery .. 109 11 0 (d.) Grant for subsidy on subscriptions .. 350 0 0 Insurance .. .. 43 10 10 (c.) Balance of £6,000 grant .. .. 32 810 I Lighting .. .. .. .. 175 12 5 (f.) Sir George Grey Scholarship 50 0 0 | Heating .. .. .. 60 1 10 (g.) Queen's Scholarships .. .. 387 0 0 Water.. .. .. .. .. 12 6 Fees .. .. .. .. 1,752 1 0 Travelling-expenses .. .. .. 59 8 0 Examination fees .. .. 203 1 6 Fees refunded .. .. .. .. 10 10 0 Sale-< of calendars .. .. .. 9 11 0 Examination fee refunded .. .. 2 2 0 Interest .. .. .. .. 87 10 0 College examination expenses .. .. 95 511 R. Nt of reserve .. .. .. 74 7 0 Library .. .. .. .. 358 9 2 Donations .. .. .. 75 0 0 Furniture .. .. 78 17 3 Bequest .. .. .. .. 44 9 0 Repairs .. .. .. .. 26 411 College Building Fund subscriptions .. 132 14 0 Legal expenses.. .. .. 4 4 0 Biological observing-station .. .. 0 8 5 Contingencies .. .. 12 16 9 Grounds .. .. .. 48 2 6 Chemicals, &c... .. .. ~ 153 4 4 Apparatus .. .. .. .. 674 0 5 New wing .. .. .. .. 694 11 8 Sir George Grey Scholarship .. .. 50 0 0 Qneen's Scholarship .. .. .. 387 0 0 Balance .. .. .. .. 2,189 6 11 £11,948 12 4 £11,948 12 4 Balance down .. .. .. £2,189 611 Grant fob Specialization. Receipts. £ s. d. Expenditure. £ s. d' Government grant .. .. .. 2,000 0 0 Salaries — Law and scienoe (part payment) .. .. .. .. 2,000 0 0 Deposit Account. Receipts. £ s. d. Expenditure. £ s. d. Balance brought forward .. .. 15 15 0 Library deposits refunded .. .. 14 14 0 Library deposits .. .. .. 18 18 0 Customs deposits .. .. .. 51 0 0 Customß deposits refunded .. .. 51 0 0 Balance .. .. .. .. 19 19 0 £85 13 0 £85 13 0 Balance down .. .. .. .. £19 19 0 Umon Pbize Fund. Receipts. £ s. d. Expenditure. £ s. d. Balance brought forward .. .. .. 102 11 4 Bankxsharge—cheque-book .. .. 03 6 Interest .. .. .. .. .. 4 10 0 Balance .. .. .. .. 106 17 10 £107 1 4 £107 1 4 Balance down .. .. .. .. £106 17 10 Jacob Joseph Scholarship Fund. Receipts. £ s. d. Expenditure. £ ►. d. Balance brought forward .. .. 3,190 1 6 Scholarship paid .. .. .. 60 0 0 Interest .. .. .. .. 135 0 0 Bank charge and cheque-book .. .. 011 6 Balance .. .. .. .. 3,264 10 0 £3,325 1 6 £8,326 1 6 Balance down .. .. .. ..£3,264 10 O Chas. P. Powles, Registrar. Examined and found correct, except that there is no authority of law for the deposit of £1,022 10s. :: with a building society.—R. J. Collins, Controller and Auditor-General. * Inoluded in the balance to the general acoount, £2,189 6s. lid.

3—E. 7.