B.—l IPt. IV].

60

NATIONAL ENDOWMENT ACCOUNT. [Statement of Receipts and Payments for the Year ended 31st March, 1923. Receipts. Payments. £ s, d' To Cash in Public Account, £ s. cl. £ s. cl. By Expenditure under section 17, Land Ist April, 1922 .. 25,405 .1 5 Laws Amendment Act, 1912 .. 12,372 18 10 Investment Account, Ist Refunds of revenue .. .. 069 0 2 April, 1922 .. 72,000 0 0 Consolidated Fund—Education and ■ 97,405 1 5 old-age pensions .. .. 95,150 11 3 Rents, dke., from national-endowment Cash in Public Account, £ s. d. lands .. .. .. .. 120,204 10 1 31st March, 1923 .. 29,350 15 I Interest on investments .. .. 1,885 13 10 Investment Account, 31st March, 1923 .. 82,000 0 0 111,356 15 I £219,555 5 4 £219,555 5 4 Revenue Account for the Year ended 3Lst March, 1923. To Loan repayments — £ s. d. £ s. d. £ s. d. Local Bodies' Loans By Accrued rents, &c. .. .. 137,178 7 8 Act, 1908 .. 5,106 0 9 , Accrued timber royalties .. .. 11,580 9 0 Section 63, Land Laws Accrued coal rents and royalties .. 511 1 2 Amendment Act, Adjustment of rents, &0., with other 1913 .. .. 3,685 19 1 funds .. .. .. .. 30 0 8 —— —— 8,79119 10 Interest on investments .. .. 1,810 6 7 Administration expenses .. 0,998 3 3 " Thirds," " fourths," and " halves " 14,484 13 5 Rents written off Suspense .. 1,054 4 3 Reserve for irrecoverable rents .. 1,500 0 0 Royalties written off .. .. 25, 111 1 9 Remissions of rent .. .. 1,968 18 8 Rebates granted .. .. 2,210 2 5 Refunds of rents .. .. 372 1 7 Refunds of royalties .. .. 22 5 0 Costs of surveys .. .. 2,007 13 0 Adjustment of rents, &c, with other funds .. .. ~ 197 1 3 Balance .. .. .. .. 85,744 0 2 £151,122 5 1 £151,122 5 1 To Contributions for education and old-age £ s. d. £ «. d. i pensions .. .. .". 112,300 18 8 By Balance brought, clow n .. .. 85,744 0 2 Carried forward .. .. .. 70,437 17 7 Balance from previous year .. 97,000 fO I £182,804 10 3 £182,804 10 3 Balance-sheet as at 31st March, 1923. Liabilities. £ s. d. Assets, £ ,s. d. Capital .. .. .. .. 5,041,073 8 8 Land .. .. .. .. 5,055,009 10 II Appreciation in land-values .. 16,029 3 8 National Endowment Trust Aooount 2,015 (l 2 Sundry creditors .. .. .. 606 15 4 Unpaid purchase price (not yet payRents paid in advance .. .. 062 7 9 able) of buildings .. .. 201 15 2 Endowments payable for old age Sundry debtors, for sales of land .. 18 1 3 pensions and education purposes .. 1.10,087 12 0 Sundry debtors, for £ s. d. Balance of Revenue Account .. 70,437 17 7 rent .. .. 57,2911.9 5 Less rents written off Suspense, £1,654 4s. 3d. ; reserve for irrecoverable rents, £1,500 .. 3,154 4 3 54,137 15 2 Sundry debtors, for principal instalment on buildings .. .. 23 410 Sundry*debtors, for royalties .. 10,524 3 5 Sundry debtors (miscellaneous) .-. 762 14 3 Postponed rent .. .. .. 4,299 17 2 interest accrued due on investments. . 488 7 7 ('ash in Public Ac- £ s. d. count .. .. 29,350 15 I Investment Account 82,000 0 0 — 111,350 15 1 £5,238,897 5 0 £5,238,897 5 0 J. B. Thompson, Under-Secretary for Lands. J. H. O'Donnell, Chief Accountant. I hereby certify that the Revenue Account and balance-sheet have been duly examined and compared with the copies of journal entries of the District Land Boards submitted for audit, and correctly state the position as disclosed thereby. The Revenue Account includes rent due for the period Ist July, 1922, to 30th June, 1923.— G. F. C. Campbell, Controller and Auditor-General.