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MISCELLANEOUS BUSINESS BRANCH.—HOUSING ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1932. Liabilities. Assets. Sundry loans — £ s. d. £ s. d. Investment Account —Principal Debentures.. .. .. 412,388 9 4 owing on— £ s. d. £ s. d. Expenditure from Public Works Dwellings purchased ..294,543 18 6 Fund .. .. .. 319,918 1 7 Sections purchased .. .. 2,704 310 Advances .. .. . . 182 8 11 732,306 10 11 297,430 11 3 Less loan liability redeemed Temporary advances to Settlers Branch ..317,000 0 0 and discharged from Con- Completed dwellings .. .. .. 17,176 12 7 solidated Fund .. .. 19,468 9 4 Dwellings let .. .. .. .. .. 15,132 9 9 Freehold land .. .. .. ■. 26,188 16 6 712,838 1 7 Sinking Fund investments held by Public Debt Less loan liability redeemed Redemption Fund .. .. .. *4,441 0 8 bv Public Debt Repayment Insurance Fund investment held by Settlers Account .. .. 100 0 0 Branch .. .. .. .. 6,434 0 9 712,738 1 7 Sundry debtors .. .. .. .. 896 13 7 Liability to Consolidated Fund in terms of Interest on dwellings and land— £ s. d. section 22, Finance Act, 1926 .. .. 100 0 0 Overdue .. .. 6,325 17 0 Sundry creditors .. .. •• 215 17 8 Accrued .. .. .. 39 14 4 Suspense Account .. .. .. 474 19 10 6,365 11 4 Insurance Fund .. .. .. •• 7,652 4 4 Rent overdue .. .. .. .. 1,272 14 b Interest on loans— £ s. d. Insurance premiums— £ s. d. Overdue .. .. •• 18,354 13 1 Overdue .. .. .. 433 15 9 \ccrued .. .. 3,844 3 4 Paid in advance .. .. 277 6 2 22,198 16 5 711 1 11 Reserve for bad debts .. .. 11,535 14 1 Realization Suspense Account .. .. 2,398 15 11 Sinking Fund .. .. .. ■■ 1,086 010 Profit and Loss Account .. .. .. 60,053 14 4 Cash in hand and in bank at 31st March, 1932 .. 499 11 8 £756,001 14 9 £756,001 14 9 * This amount includes the sum of £3,354 19s. 10d., capital paid into the Sinking Fund in accordance with the Public Debt Extinction Act, 1910. Profit and Loss Account for the Year ended 31st March, 1932. X)r. £ s. d. Cr. £ s. d. To Management Expenses Account .. .. 2,049 11 6 By Sale of land and dwellings .. .. 44 11 3 Dwellings maintenance .. .. •• 632 16 2 Balance—Loss for the year .. .. 8,139 18 3 Losses on realization of securities, and doubtful securities written down .. .. .. 5,356 14 9 Balance —Interest Account .. . . 145 7 1 £8,184 9 6 £8,184 9 6 £ s. d. To Balance as at 31st March, 1931 .. •• 51,913 16 1 £ s. d. Loss for the year .. .. •• 8,139 18 3 By Balance .. .. .. .. 60,053 14 4 £60,053 14 4 £60,053 14 4 Interest Account for the Year ended 31st March, 1932. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Interest on loans .. .. 28,562 2 6 By Interest on land and dwellings 13,853 0 3 Less accrued at 31st March, Less overdue and accrued at iqqi . 3,844 3 4 31st March, 1931 .. 6,394 14 0 24,717 19 2 7,458 6 3 Interest on loans accrued but not due .. 3,844 3 4 Interest on amounts temporarily transferred to Settlers Branch .. .. • • 14,554 3 4 Interest on bank balances .. .. .. 38 14 6 Interest on dwellings and land — £ s. d. Overdue at 31st March, 1932 6,325 17 0 Accrued but not due at 31st March, 1932 .. 39 14 4 6,365 11 4 Balance transferred to Profit and Loss Account 145 7 1 £28,562 2 6 £28,562 2 6 Management Expenses Account for the Year ended 31st March, 1932. j) r _ £ s. d. Cr. £ s. d. To Audit Office services 90 0 0 By Sundry fees .. .. .. ... 6 0 0 Cleaning, lighting, heating, and messenger services 25 0 0 Balance transferred to Profit and Loss Account Z, 049 II b Fees paid for special services in respect of securities ........ 14 16 0 Postages and telegrams .. ■ . • • 60 0 0 Post Office services .. . • • • 190 0 0 Printing and stationery .. .. • ■ 65 0 0 Public Service Superannuation Fund contribution 56 0 0 Rates .. .. • • • • • • 10 17 11 Rent .. .. • • • ■ ■ • 80 0 0 Salaries .. .. • • ■ • .. 1,208 0 0 Solicitors' costs .. .. ■ • • • 517 7 Valuation Department —Agency work .. 250 0 0 £2,055 11 6 ; £2,055 11 6 ===== I E. 0. Hales, Superintendent. State Advances Office, Wellington, 23rd June, 1932. R. Robertson, Accountant. I hereby certify that the balance-sheet and accompanying accounts have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby. — J. H. Fowler, Deputy Controller and Auditor-General.

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