B.—l [Pt'. IV, Sup. B].

REPATRIATION DEPARTMENT. Income and Expenditure Account for the Year ended 31st March, 1924. Expenditure. Income. £ s. d. £ s. d. £ s. d. By Rent of buildings sublet .. .. .. 375 13 9 To Training .. .. .. 1,774 16 11 Excess of expenditure over income for year Legal expenses .. .. 71 13 0 carried down .. .. .. .. 58,669 2 9 Postage and telegrams .. 110 (i 9 Printing and stationery .. 12 14 1 Salaries .. '.. .. 3,865 17 6 Travelling-expenses .. .. 7 17 2 General expenses .. .. 223 5 3 Furnishings .. .. .. 14 3 9 Advertising .. .. .. 5 7 0 Rent of offices .. . . 502 18 7 Audit fees .. .. .. 307 9 3 Miscellaneous administration expenses .. .. .. 8 6 6 6,904 15 9 Administration expenses of State Advances Department .. .. .. .. 6,759 15 7 Depreciation on buildings .. .. . . 430 0 0 Losses on realization of office furniture and fittings .. .. .. .. 729 I 5 Interest Account —Net loss transferred .. 44,221 3 9 £59,011 10 0 £59,044 16 6 £ s. d. To Balance forward from previous year.. .. 701,292 7 7 By Revenue on account of previous Balance for year brought down .. .. 58,669 2 9 year— £ s. d. £ s. d. Interest on loan to Moa Seed-farm Association . . .. .. 125 0 0 Loans Investment Account .. 10 12 7 Sales of farm-produce . . .. 230 1 4 Recovery under fidelity insurance policy . . .. .. 103 12 6 Loss on realization of equipment overstated .. . . .. 250 0 0 719 6 5 Total excess of expenditure over income .. .. .. .. 759,242 311 £759,961 10 4 £759,961 10 4 Interest Account for the Year ended 31st March, 1924. Dr. £ s. d. Or. £ s . ( \. To Interest charged on capital, 4-J per cent, on By Interest charged on loans .. .. .. 9,074 17 0 £1,196,192 4s. lid. .. .. .. 53,828 12 9 Interest on temporary,investments .. .. 407 12 0 Interest on loan to Moa Seed-farm Association 125 0 0 Net loss to Income and Expenditure Account. . 44,221 3 9 £53,828 12 9 £53,828 12 9 Balance-sheet as at 31st March, 1924. Liabilities. A ssets. Capital Account — £ s. d. £ s. d. Loans Investment Account— £ s. d. £ s. d. Advances from War Ex- I'rincipal outstanding .. 579,742 15 3 penses Account outstanding Loans approved—not advanced 169 12 0 at 31st March, 1923 .. 1,306,956 4 2 579,912 7 3 Less net repayments, 1923-24 110,763 19 3 Less reserve for bad debts .. 29,971 7 3 1,196,192 I II Less Suspense adjustments .. 362 11 4 Treasury Adjustment Account .. .. 140,188 18 6 30,333 18 7 Sundry creditors .. .. .. .. 202 6 3 Depreciation reserve for buildings .. .. 1,279 2 7 549,578 8 8 Receipts by State Advances not allocated .. 597 II 4 Sundry debtors —Interest on loans .. .. 9,572 15 (i Writings-otf in suspense — Sundry debtors —Miscellaneous .. .. 075 4 1 Assets as per contra .. 27,254 17 8 Loan Account —Sale of Moa assets .. .. 2,500 0 0 Loan defalcations not yet Office furniture and fittings .. 313 8 0 transferred from Loans In- Equipment, Ruakura .. . . 250 0 0 vestment Account .. 1,190 2 5 Buildings, Ruakura, .. .. 7,268 5 4 28,445 0 1 Buildings, Avonhead .. .. 3,202 17 (i 11,034 10 10 Cash in hands of State Advances Department .. 7,047 3 0 Assets Accounts in Suspense (representing losses on realization of assets req uired to be written off)— Technical equipment.. .. 5,805 14 6 Weraroa buildings . . .. 468 11 5 Avonhead eq uipment .. 772 8 7 Moa buildings and equipment . . 5,048 5 2 Tauherenikau equipment .. 7,219 12 3 Loans and interest .. .. 5,766 16 4 Office furniture and fittings .. 2,1.73 9 5 27,254 17 8 Excess of expenditure over income— Balances as at Ist April, 1923 .. 701,292 7 7 Net expenditure for 1923-24 .. 57,949 16 4 759,242 3 11 £1,366,905 3 8 £1,366,905 3 8 J. R. Samson, Director. I hereby certify that the Interest Account, 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, except that the accounts include charges against the Department for interest for which the Department possesses no parliamentary appropriation, and that the Department has been wrongly charged with the cost of collection of interest on advances. — G. F. C. Campbell, Controller and Auditor-General.

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