C-—6.

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Balance-sheet as at 31st March, 1928.

Liabilities. Capital Account — £ s. d. £ s. d. Balance, Ist April, 1927 186,449 17 4 Capital expenditure, &c. during year .. 5,614 12 0 192,064 9 4 Less capital repaid .. 5,094 8 4 186,970 1 0 Reserve Account —Value of Crown lands set aside as reserves .. 51,051 6 5 ■ 238,021 7 5 Treasury Adjustment Account .. 26,605 15 8 Sundry creditors, for compensation payable on land takon for reserves .. 208 0 0 Liability to Native Land Settlement Account in respect of Waikaremoana watershed area .. .. .. 9,766 13 4 Rents paid in advance .. .. 58 0 6 Rents charged in advance .. .. 151 17 7 Writings-off in Suspense Account .. 66 15 4 £274,878 9 10

Assetx. • £ 3. d. Land —Scenic reserves .. .. 235,695 2 10 Waikaremoana watershed area—to be taken over from Native Land Settlement Account .. .. .. 9,766 13 4 Sundry debtors for— £ s. d. Rents .. .. 186 10 5 Royalties .. .. 0 13 186 11 8 Postponed rent .. .. .. 87 0 0 Outstanding rents in Suspense Account .. 66 15 4 Revenue Account —Accumulated excess of charges over revenue .. .. 29,076 6 8 £274,878 9 10

J. B. Thompson, Under-Secretary for Lands. J. H. O'Donnell. Controller of Accounts

I hereby certify that the Receipts and Payments Account, 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. —G. F. C. Campbell, Controller and AuditorGeneral.

Approximate Cost of Paper.—Preparation, not given; printing (700 copies, including illustrations), £25.

By Authority: W. A. G. Skinner, Government Printer, Wellington.—1928.

Price 9d.]