B.—l TPt. IV!.

21

EDUCATION ENDOWMENT DEPOSIT ACCOUNT. PRIMARY-EDUCATION ENDOWMENTS. Revenue Account for the Year ended 31st March, 1925. Dr. £ s. d. Or. £ s. d. To Loan repayments (principal and interest) under By Accrued rents, &c. .. .. .. 112,560 4 5 section 63, Land Laws Amendment Act, Accrued royalties .. .. .. 2,041 13 9 1913 .. .. .. .. 268 3 1 Interest on cash and investments held by Administration expenses .. .. .. 5,929 10 8 Public Trustee .. .. .. 1,132 9 8 Irrecoverable rents .. .. .. 348 5 4 Miscellaneous .. .. .. .. 26 19 4 Reserve for irrecoverable rents .. .. 200 0 0 Balance carried down .. .. .. 1,465 160 Survey costs .. .. .. .. 217 9 9 Remissions of rent .. .. .. 33813 Repayments for primary education purposes 109,925 13 1 £117,227 3 2 £117,227 3 2 £ s. d. £ s. d. To Balance carried down .. .. .. 1,465 16 0 By Balance from previous years .. .. 23,958 17 6 Adjustment on account of previous years — Rents charged, in advance at 31st March, 1924, &c. .. .. .. .. .. 21,817 6 3 Balance .. .. .. .. 675 15 3 £23,958 17 6 £23,958 17 6 Receipts and Payments Account for the Year ended 31st March, 1925. - ' Receipts. £ s. d. Payments. £ s. d. To Balance in Public Account, Ist April, 1924.. 4,111 8 11 By Payments for primary-education purposes.. 109,925 13 1 Rents received under section 2, Education Administration expenses .. .. .. 6,140 2 9 Reserves Amendment Act, 1914 .. .. 116,099 2 6 Refunds of revenue .. .. .. 75 5 5 Sales of land under section 3, Education Re- Balance in Public Account, 31st March, 1925 4,722 5 1 serves Amendment Act, 1914 .. .. 652 14 11 £120,863 6 4 £120,863 6 4 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s, d. Capital, including loading for roads, &c. .. 2,236,962 3 9 Land .. .. .. .. .. 2,288,971 13 0 Appreciation in land values .. .. 87,991 19 0 Unpaid purchase price (not yet payable) of Sundry creditors, miscellaneous .. .. 358 8 3 buildings .. .. .. .. 4,669 11 1 Rents paid in advance .. .. . .. 719 14 5 Unpaid purchase price (not yet payable) of land 1,666 13 4 Royalties paid in advance '.. • • 512 0 Sundry debtors for— £ s. d. Consolidated Fund—for compensation,,fo'r im- Rents .. .. .. 13,985 17 5 provements .. .. 600 0 0 Less reserve for irrecoverable Rents, &c., charged in advance .. .. 22,783 3 10 rents .. .. .. 200 0 0 Writings-off Suspense .. .. .. 901 011 — — 13,785 17 5 Revenue Account—Balance .. .. 675 15 3 Royalties .. .. .. .. 621 3 7 Principal instalments on building .. 89 19 7 Interest on cash and investments .. 47 2 6 Miscellaneous .. .. .. .. 1,015 1 2 Postponed rent .. .. .. .. 7,167 19 6 Outstanding Rents Suspense .. .. 901 0 11 Interest accrued but not due on investments .. 28 18 7 Revaluation Board determinations — £ s. d. Reductions in value of land 3,600 0 0 Rents written off .. .. 446 0 0 Remissions of rent.. .. 361 0 10 4,407 0 10 Investments held by Public Trustee.. .. 3,962 0 0 Cash held by Public Trustee .. .. 18,941 10 10 Cash in Public Account .. .. .. 4,722 5 1 £2,350,997 17 5 £2,350,997 17 5 30th July, 1925. J. B. Thompson, Under-Secretary for Lands. J. H. O'Donnell, Chief Accountant. I hereby certify that the Statement of Receipts and Payments, Revenue Account, and Balarce-sheet have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby, except-—(1) The accounts have been compiled from copies of journal entries of the District Land Offices and audited statements from Otago, Nelson, West-land, Poverty Bay, Hawke's Bay, Southland, and Marlborough ; (2) the Capital Account is overstated by the total amount the land was loaded for roading, &c. ; and (3) in the opinion of the Audit Office instalments of princij>al included in loan repayments should not be a charge against the Revenue Account. —G. F. C. Campbell, Controller and Auditor-General.