B.—l [Pt. IV].

32

GOVERNMENT LIFE INSURANCE DEPARTMENT. Revenue Account of the Accident Branch of the Government Insurance Department for the Year ended 31st December, 1922. £ s. d. £ s. d. Amount of Acoident Funds, Ist January, Claims .. .. .. .. 20,329 15 5 1922 .. .. .. .. 11,472 7 7 Commission.. .. .. 4,043 4 10 Premiums .. .. £33,982 10 5 Salaries .. .. .. .. 3,870 0 0 Less roinsuranoe pre- Expenses of management .. .. 1,708 4 1 miums .. .. 034 16 2 Amount of Aocident Funds, 31st Decem33,347 14 3 ber, 1922 .. .. .. .. 21,068 15 5 Interest .. .. 7,598 0 1 LeBS land and inoome tax .. .. 1,489 6 10 6,108 13 3 Defalcations recovered .. .. 91 4 8 £51,019 19 9 £51,019 19 9 Balance-sheet of the Accident Branch of the Government Insurance Department on 31st December, 1922. Liabilities. £ Si t \_ Assets. £ Bl (j. Aocident Funds, as per Revenue Aooount 21,068 15 5 Debentures issued under authority of the Claims admitted (proofs not vet oom- Finanoe Act, 1915 .. .. .. 10,000 0 0 ploted) .. .. ..' .. 12,000 0 0 New Zealand Inscribed Stock — War Commission.. .. .. .. 355 19 7 Loans .. .. .. .. 100,500 0 0 Premium and other deposits .. .. 74 14 5 New Zealand Inscribed Stock .. .. 3,000 0 0 Sundry creditors .. .. .. 2,466 2 4 Mortgages on property .. .. 40,720 0 0 Officers' Fidelity Fund .. .. 300 0 0 Outstanding interest due but Reserve for unearned premiums .. 14,929 0 0 not overdue .. .. £220 8 9 Investment Fluctuation Reserve .. 3,000 0 0 Interest aoerued but not due 1,596 15 9 Reserve Fund constituted under sec- 1,816 19 0 tion 20 of the Government Aocident Agents' balances .. .. .. 558 18 4 Insurance Act, 1908 .. .. 115,019 19 11 Sundry debtors . .. .. .. 11110 Cash in hand and on ourrent aooount .. , 12,617 2 0 £169,214 11 8 £169,214 11 8 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. F. C. Campbell, Controller and Auditor-General. Revenue Aooount of the Government Life Insurance Department for the Year ended 31st December, 1922. £ s. A. £ s. d. Amount of funds at Ist January, 1922 5,726,350 7 8 Death claims under polioies, assurance, Renewal premiums — Assurance, an- including bonuß additions .. .. 204,500 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 .. .. 0,780 1 0 in the year) .. .. .. 38,441 11 11 Premiums returned on endowments .. 229 19 0 Single premiums—Assurance and on- Bonusos surrendered for oasli .. 4,000 6 9 dowment .. .. .. 562 4 0 Annuities .. -~ .. .. 21,000 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,.£10,689145.0d.; „ renewal 2,899 11 3 property expenses, 31,165 15 1 &0., £4,586 17s. sd. 15,270 11 5 Expenses of management— 294,913 11 3 Salaries— £ s. d. Defalcations recovered .. .. 207 6 6 Head Office .. 23,683 19 8 Branch offices and agents .. .. 12,803 0 4 Extraolerioal assistance 607 16 6 Medical fees and expenses .. .. 5,479 3 6 Travelling-expenses .. 827 13 9 Advertising .. .. 461 3 0 Printing and stationery 1,999 0 8 Rent .. ..4,170 19 9 Postage and telegrams 2,446 2 4 Exchange .. .. 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.