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Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1922. £ s. d. £ s. d. Amount of Funds at Ist January, 1922 5,726,356 7 8 Death claims under polioies, Assurance, Renewal premiums —Assurance, An- including bonuß additions .. .. 204,560 19 0 nuity, and Endowment .. .. 434,137 4 9 Endowment Assurances matured, inNew premiums (including instalments eluding bonus additions .. .. 191,351 0 0 of first year's premiums falling due Endowments matured .. .. 6,780 1 0 in the year) .. .. .. 38,441 11 11 Premiums returned en endowments .. 229 19 0 Single premiums—Assurance and En- Bonuses surrendered for oash .. 4,660 6 9 dowment .. .. .. 562 4 0 Annuities .. .. .. .. 21,006 8 8 Consideration for Annuities.. .. 10,593 8 6 Surrenders .. .. .. 30,076 3 4 Interest and Rent ..£310,190 2 8 Loans released by surrender 35,298 13 9 Less land and income Commission, new* .. £28,266 310 tax, £10,689145. od.; . renewal 2,899 11 3 property expenses, 31,165 15 1 &c, £4,586 17s. sd. 15,276 11 5 Expenses of management— — 294,913 11 3 Salaries— £ s. d. Defalcations reoovered .. .. 267 6 6 Head Office .. 23,683 19 8 Branch offioes and agents .. .. 12,803 0 4 Extra olerioal assistance 607 16 6 Medical fees and expenses .. .. 5,479 3 6 Travelling-expenses .. 827 13 9 Advertising .. .. 461 3 6 Printing and stationery 1,999 0 8 Rent .. .. 4,170 19 9 Postage and telegrams 2,446 2 4 Exohange .. .. 53 1 9 General expenses .. 4,380 12 11 Triennial expenses .. 405 0 0 57,317 14 8 Amount of funds, 31st December, 1922 5,922,824 13 4 £6,505,271 14 7 £6,505,271 14 7 * Including agents' allowances. Balance-sheet of the Government Life Insurance Department on 31st December, 1922. Liabilities. Assets. * s. d. £ g< d . £ 8 . d . Total Assurance, Annuity, and En- Loans on policies .. .. 854,240 2 2 dowment Funds (as per Revenue Government securiAccount) .. .. .. 5,922,824 13 4 tiesClaims admitted, proofs not yet com- Consolidated stock 625,900 0 0 pleted .. .. .. .. 51,342 14 2 Debentures issued Annuities .. .. .. .. 731 12 6 under the auCommission .. .. .. 1,385 9 7 thority of the EiMedical fees .. .. .. 471 9 0 nance Act, 1915 40,000 0 0 Premium and other deposits.. .. 6,829 14 9 New Zealand InSundry creditors .. .. .. 2,760 16 7 scribed Stock — Officers' Fidelity Fund .. .. 900 0 0 War Loans . ..1,157,000 0 0 Investment Fluctuation Reserve .. 288,772 18 1 New Zealand Inscribed Stock — Finance Act, 1919 50,000 0 0 New Zealand Inscribed Stook — Discharged Soldiers Settlement Loan.. .. 110,000 0 0 1,982,900 0 0 Municipal Corporation debentures .. 141,126 16 3 County securities .. .. .. 5,138 0 0 Harbour Board debentures .. .. 33,800 0 0 Town Board debentures .. .. 29,193 6 1 Road Board debentures .. .. 21,800 0 0 Drainage Board debentures .. .. 1,967 4 4 Landed and house property .. .. 134,089 11 10 Landed and house property (leasehold) 1,612 2 0 Mortgages on property .. .. 2,743,869 15 3 Properties acquired by foreclosure .. 1,193 13 9 Overdue premiums on £ s. d. policies in force .. 8,209 16 5 Outstanding premiums due but not overdue.. 47,870 2 6 56,079 18 11 Overdue interest .. 12,812 1 4 Outstanding interest due but not overdue.. 8,944 i 6 Interest aoorued but not due .. .. 75,047 1 5 ■ 96,803 7 3 Agents'balances .. .. .. 6,042 16 11 Sundry debtors .. .. .. 4,015 1 9 Cash in hand and on current account.. 162,147 11 6 £6,276,019 8 0 £67276^019 _ B_o8 _ 0 Government Life Insurance Department, 12th March, 1923. J. H. Richardson, Commissioner. G. A. Kennedy, Acting-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. G. V. C. Campbell, Controller and Auditor-General.

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