B.—l [PT. IY].

HAURAKI PLAINS SETTLEMENT ACCOUNT—continued. Balance-sheet as at 31st Makch, 1926. Liabilities. Assets. Capital Account—■ £ s. d. Improved land— £ s. d. Debentures issued — Handed over to Land Board for settleLocal Bodies' Loans Act, 1908 .. 31,000 0 0 ment .. .. .. .. 329,021 10 11 State-guaranteed Advances Act, 1909 95,000 0 0 £ s. d. Hauraki Plains Amendment Act, Less sales .. 75,960 12 5 1913 .. .. .. 574,000 0 0 Reductions by ReExpenditure from Public Works Fund 5,070 0 0 valuation Board .. 43,870 0 0 Value of Crown Lands set apart under —■ 119,830 12 5 the Act .. .. .. 45,000 0 0 Appreciation in value of lands transferred 209,190 18 6 to control of Land Board .. .. 24,721 511 Unimproved landsInterest on debentures accrued but not due 5,602 6 1 Not yet disposed of .. .. 44,373 15 9 Consolidated Fund— Improvements on adjoining Crown lands 7,710 0 0 Interest on debentures Permanent reserves .. .. .. 8,851 0 0 under Local Bodies' £ s. d. Works in progress — Loans Act, 1908 .. 29,145 010 Expenditure on land in process of reInterest on debentures clamation, including formation and under Hauraki Plains metalling of roads .. .. 371,628 8 8 Amendment Act, 1913 48,193 11 3 Artesian wells— Interest on expenditure Crown tenants, Hau- £ s. d. out of Land Improve- raki Plains .. 1,642 5 4 ment Vote (Public Permanent reserves and Works Fund) .. 2,281 10 0 Crown land .. 216 10 9 Rates unpaid, 1917-21 121 2 7 1,858 16 1 __ _ 79,741 4 8 Buildings .. .. .. 7,260 7 6 Reserve .. .. .. .. 5,850 17 4 Wharves .. .. .. 5,600 0 0 Sundry creditors .. .. .. 7,435 2 8 Machinery and plant .. .. 66,638 18 11 Rates, &c., paid in advance .. .. 515 5 Live-stock .. .. .. 324 1 0 Writings off Suspense .. .. 67 10 10 Loose tools .. .. .. 512 2 0 Rents charged in advance .. .. 2,715 0 0 Stores and fuel .. .. 6,428 5 8 Suspense Account .. .. .. 28 10 0 Sundry debtors for— £ s. d. Rents .. .. 4,411 6 3 Sales of land .. 2,496 19 1 Interest on sales .. 61 18 2 Interest on well boring 145 7 5 Rates .. .. 6,270 2 2 Tram freights .. 355 2 7 Miscellaneous .. 1,316 9 4 15,057 5 0 Postponed rent .. .. 306 6 6 Writings off in Suspense .. 67 10 10 Revaluation Board determinations — Reductions in value of £ s. d. land .. .. 43,870 0 0 Rents written off .. 5,895 17 7 Remissions of rent .. 5,564 15 4 — 55,330 12 11 Interest accrued but not due on sales of land .. .. .. .. 53 0 0 Cash in Public Debt Redemption Fund.. 5,850 17 4 Revenue Account, balance .. .. 35,689 9 3 Cash in Public Account .. .. 33,505 17 0 £876,237 12 11 £876,237 12 11 J. B. Thompson, Under-Secretary for Lands. J. H. O'Donnell, Controller of Accounts. 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. The following comments are appended : —• (a) In the opinion of the Audit Office interest charged on works in progress should be capitalized, (ib) A Bad Debts Reserve should be created. (c) Suggestions in reference to the treatment of expenditure on lands already handed over for settlement have been made to the Department.—G. F. C. Campbell, Controller and Auditor-General.

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