B. 1 [PT. IV, SUP.].

CHEVIOT ESTATE ACCOUNT. Receipts and Payments Account for the Year ended 31st March, 1928. Receipts. Payments. £ s. d. To Balance at Ist April, 1927— £ s. d. £ s. d. By Administration expenses .. .. .. 881 7 9 Cash in Public Account .. 12,878 7 6 Interest on inscribed stock.. .. .. 5,632 2 6 Investment Account .. 159,780 0 0 Management charges of inscribed stock .. 94 19 0 172,658 7 6 Balance at 31st March, 1928 — £ s. d. Rents from leases (less refunds) .. .. 17,488 12 3 Cash in Public Account .. 709 12 6 Sales of lands .. .. .. .. 120 0 0 Investment Account .. 190,680 0 0 Interest on securities held by Investment 191,389 12 6 Account .. .. .. .. 7,677 12 4 Public Revenues Act, 1926, section 40 —Interest received on temporary transfers to other accounts .. .. .. 53 9 8 £197,998 1 9 £197,998 1 9 Revenue Account foe the Year ended 31st March, 1928. Dr. £ s. d. Cr. £ s. d. To Administration expenses .. .. .. 881 7 9 By Accrued rent .. .. .. .. 19,256 13 3 Capital reductions in land-values consequent Interest on investments .. .. .. 7,71636 upon determinations of Dominion Revalua- Interest on temporary transfers to other tion Board under Discharged Soldiers accounts .. . . .. .. 53 9 8 Settlement Amendment Act, 1923.. .. 1,110 0 0 Interest allowed on sinking fund contributions 102 17 1 Interest on inscribed stock.. .. .. 5,632 2 5 Irrecoverable rents .. .. .. 162 1810 Management charges on inscribed stock .. 94 19 0 Rebate .. .. .. .. .. 1,877 10 7 Rents written off consequent upon determinations of Dominion Revaluation Board under Discharged Soldiers Settlement Amendment Act, 1923.. .. .. .. 153 0 0 Balance carried down .. .. .. 17,217 411 — £27,129 3 6 £27,129 3 6 = £ s. d. £ s. d. By Balance brought down .. .. .. 17,217 411 To Balance carried forward .. .. .. 292,535 13 4 Balance from previous year .. .. 274,977 5 I Interest allowed on sinking fund contributions to 31st March, 1927 .. .. .. 341 3 4 £292,535 13 4 £292,535 13 4 Balance-sheet as at 31st March, 1928. Liabilities. £ s. d. Assets. New Zealand consolidated stock .. .. 160,918 0 0 Land— £ s. d. £ s. d. Sundry creditors, for rents paid in advance .. 16 0 Leased .. .. .. 389,597 18 11 Interest on consolidated stock (accrued but not due) 1,373 6 3 Unleased .. .. .. 385 0 0 Rents charged in advance .. .. .. 6,479 10 10 389,982 18 11 Reserve account .. .. .. .. 128,133 10 10 Sundry debtors, for rents .. .. 1,267 15 7 Writings off in Suspense .. .. .. 162 18 10 Sundry debtors, for interest on investments .. 164 19 3 Revenue Account .. .. .. .. 292,535 13 4 Postponed rent .. .. .. .. 1,257 8 4 interest accrued but not due on investments .. 2,704 8 3 Outstanding Rents Suspense .. .. .. 162 1810 Investments in Public Debt Redemption Fund .. 2,674 4 5 £ s. d. Cash in Public Account .. 709 12 6 Investment Account .. .. 190,680 0 0 191,389 12 6 £589,604 6 1 £589,604 6 1 J. B. Thompson, Under-Secretary for Lands. 15th May, 1928. J. H. O'Donnell, Controller of Accounts. I hereby certify that the Statement of Receipts and Payments, 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 comment is appended : Interest on the amount held in the Public Debt Redemption Fund has been compounded, whereas there is no statutory provision therefor.—J. H. Fowler, DeputyController and Auditor-General.

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