65

B.—l [PT. IV, SUP. BJ.

WESTPORT HARBOUR ACCOUNT. Revenue Account for the Year ended 31st March, 1926. Expenditure. £ s. d. Income. £ a. d. To Stock as at Ist April, 1925.. .. .. 8,341 9 9 By Special wharfage on coal .. .. .. 22,462 9 3 Dredging .. .. .. .. 10,837 410 Endowment revenue .. .. .. 18,225 16 7 Harbour maintenance .. .. .. 3,167 15 4 Special coal rate .. .. .. .. 7,530 18 9 Office adminiatration .. .. .. 1,646 13 11 Port chargea .. .. .. .. 5,421 1 2 Working-expenses of tug .. .. .. 816 13 3 Sale of surplus atorea, &c. .. .. .. 1,540 7 5 Compensation for accidents .. .. 17 17 0 Interest on investments .. .. .. 2,190 196 Alteration of lighting system .. .. 127 3 6 Royalty on timber .. .. .. 52 0 0 Audit fees .. .. .. .. 56 0 0 Royalty on sand . . .. .. .. 29 8 0 Retiring-allowancea .. .. .. 342 8 8 Rent .. .. .. .. .. 62 5 0 Grant to School of Minea .. .. .. 25 0 0 Hire of plant .. .. .. .. 5 10 9 Miacellaneous expenses .. .. .. 36 8 1 Miscellaneous receipts . . .. .. 18 16 6 Depreciation .. .. .. .. 3,015 010 Stock as at 31st March, 1926 .. .. 7,899 17 6 Interest on loans .. .. .. .. 27,261 14 4 Harbour Maintenance Reserve Account .. 5,630 8 0 Balance carried down .. .. .. 4,117 12 11 £65,439 10 5 £65,439 10 5 To Transfer to Sinking Fund .. .. .. £4,117 12 11 By Balance brought down .. .. .. £4,117 12 11 Notes. —(a.) Interest and Sinking Fund have been charged only in respect of the Marine Department's proportion of the loan capital, but it has been held that this is not strictly in accordance with the provisions of section 7 of the Westport Harbour Act, 1920, as amended by section 4of the Finance Act, 1921. (b.) Interest on advances from Consolidated Fund has been charged at the rate of 5J per centum per annum, which has been approved by the Treasury, but is not supported by statutory authority. The equity of both these charges is unquestioned, and legislation is being promoted this session to grant the necessary legal authority. Balance-sheet as at 31st March, 1926. Liabilities. Assets. Loan capital— £ s. d. £ s. d. £ s. d. Weatport Harbour Board Act, Eastern breakwater .. .. .. .. 202,142 0 0 1884 .. .. .. 58 16 6 Western breakwater .. .. .. .. 163,545 0 0 Westport Harbour Board Act, Training-walls .. .. .. .. 102,998 0 0 1884, and Loan Acts, 1896, Limestone quarry .. .. .. .. 128 0 0 1897, and 1900 .. .. 294,117 12 11 Orowaiti protective works and Buller relief channel 7,141 0 0 Westport Harbour Board Loan Floating basin . . .. .. .. 73,575 0 0 Act, 1908.. .. .. 117,647 1 2 Gridiron .. .. .. .. .. 2,196 0 0 Finance Act, 1921, section 4.. 141,126 17 2 Dredge wharf .. .. .. .. 2,790 0 0 552,950 7 9 Martin's Island .. .. .. .. 700 0 0 Reserve Account .. .. .. 62,438 310 Harbour buildings .. .. .. .. 4,619 0 0 Sinking Fund Reserve .. .. .. 109,890 9 2 Dredges, tug " Mana," &e. .. .. 25,361 0 0 Depreciation Reserve .. .. .. 15,075 4 0 Stock and stores .. .. .. .. 7,899 17 6 Harbour Maintenance Reserve .. .. 5,630 8 0 Sundry debtors— £ s. d. Sundry creditors — Accrued interest .. . . 302 7 2 Payments in advance .. 476 18 8 On open account .. .. 3,729 13 6 Accrued interest .. .. 3,577 14 11 4,032 0 8 Consolidated Fund, for interest, Sinking fund investments .. .. 109,890 9 2 &c. .. .. .. 26,445 10 9 Temporary investments .. .. 48,500 0 0 On open account .. .. 612 3 6 Cash — 31,112 7 10 In Public Account .. .. 21,520 16 9 With High Commiasioner, London .. .. .. 58 16 6 21,579 13 3 £777,097 0 7 £777,097 0 7 G. C. Godfrey, Secretary. J. E. Engel, Accountant. I hereby certify that the Revenue 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, subject to the above departmental notes. —G. F. C. Campbell, Controller and Auditor-General. Approximate Cost of Paper.—Preparation, not given; printing (660 copies), £144. By Authority; W. A. G. Skinner, Government Printer, Wellington.—l 926, Price Is. 6d.] 9—B. 1 [Pt. IY, Sup. B].