93

B. —1 [Pt. IV"!.

STATE FOREST SERVICE —continued. Balance-sheet as at 31st Maech, 1925. Liabilities. Assets. Sundry creditors— £ s. d. £ s. d. £ s. d. £ s. d. National Endowment Ac- Standing forests at 31st count .. .. 34,968 15 7 March, 1924 ..34,188,948 6 0 On open account .. 3,829 17 4 Add purchases, ]924-25 87,920 11 4 Local authorities .. 4,834 3 3 Interest accrued and un- 34,276,868 17 4 paid .. .. 5,456 13 10 Less excess withdrawals — 49,089 10 0 from provisional State Sinking Fund Reserve Ac- forests .. .. 91,484 16 0 count .. .. .. 3,129 7 5 34,185,384 1 4 Assets Suspense Account Less reserve at 31st March, Reserve .. .. .. 245 5 II 1924 .. .. 289,752 5 3 Liability for amounts held Transferred from Income in deposit .. .. .. 1,208 0 11 and Expenditure Account 113,181 3 9 Consolidated Fund—Grants 402,933 9 0 made .. .. .. 59,250 0 0 Loan Account—Debentures 33,782,450 12 4 and stock issued .. .. 601,171 6 3 Forest improvements—DeForest Capital Account at marcation, roads, tracks 31st March, 1924 .. 36,609,702 14 8 &C. .... .. 1.490 9 8 Add amount spent on Plantations and Nurseries— sand-dunes by Public Nurseries .. .. 51,723 10 0 Works Department .. 515 3 9 Plantations .. .. 1,047,703 7 8 — 1,099,426 17 8 36,610,217 18 5 Land at 31st March, 1924.. 1,858,295 10 0 Less adjustments of value Add purchases, 1924-25 18,548 15 0 of assets .. .. 14,809 19 10 — — 1,876,844 5 0 36,595,407 18 7 Less excess withdrawals Less excess withdrawals from provisional State of provisional State forests .. .. 4,972 0 0 forests .. .. 96,456 16 0 1,871,872 5 0 36,498,951 2 7 Experimental works— Sand-dune reclamation.. 6,234 19 0 Westland Forest Experimental Station and Nursery .. .. 7,767 0 4 14,001 19 4 Departmental property— Buildings .. * .. 1,201 6 2 Field equipment .. 2,246 6 6 Office equipment .. 2,513 5 0 Motor-vehicles .. 1,556 7 7 Telephone-lines .. 294 6 4 Fire-fighting equipment 303 12 2 Photographic equipment 160 13 4 Reference library and r forest exhibits .. 665 18 4 Forest ecology equipment 192 7 7 Timber-testing equipment 350 0 2 Forest-atlas .. .. 902 19 4 Stores .. .. 306 4 9 —- 10,693 7 3 Sinking Fund Investment Account .. .. .. 3,129 7 5 Assets Suspense Account .. .. 245 5 11 Deposit Account, Amounts held in .. .. .. 1,208 0 11 Sundry debtors — State forests and nurseries 253,305 1 7 Accounts paid in advance 10 15 0 Interest accrued on Investment Account .. 1,892 13 4 255,208 9 11 Less reserve for bad and doubtful debts .. 2,500 0 0 252,708 9 11 Official stamps on hand at 31st March, 1925 .. .. 25 17 1 Cash in Investment Account 165,000 0 0 Cash in Public Account .. 4 ,399 10 10 Cash in Post Office .. 6,392 9 9 175,792 0 7 £37,213,044 13 1 £37,213,044 13 1 Note*.—il.) All lands other than lands purchased have been nominally valued at ss. per acre. (2.) The values of standing indigenous forests other than those purchased have been established by the Director of Forestry. (3.) Plantations have been valued at cost plus compound interest, less returns compounded. E. Phillips Turner, Secretary of Forestry. A. W. Gyles, Accountant. I hereby certify that the 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 there is a liability to territorial revenue of approximately £900 for which no provision is made in the accounts. This liability was not disclosed until receipt of Crown Law Office advice in July, G. F. C. Campbell, Controller and Auditor-General.