C—B.

Balance-sheet as at 31st March, 1932. Liabilities. Assets. Capital Account— £ s. d. £ s. d. Improved land handed over to Land Board for Debentures issued under Hauraki settlement— £ s. d. £ s. d. Plains Act, 1926— Leased .. .. .. 194,227 911 Debentures at— £ Unleased .. .. .. 5,609 17 8 3J per cent. .. 60,000 199,837 7 7 3f per cent. .. 25,000 Unpaid purchase price of land sold on deferred 4 percent. .. 592,300 payment .. .. .. .. .. 13,388 10 7 4J per cent. .. 122,500 Unimproved value of land not disposed of .. 42,326 14 11 5J per cent. .. 10,000 Improvements on adjoining Crown lands .. 7,710 0 0 809,800 0 0 Permanent Reserves .. .. .. .. 8,851 0 0 Expenditure from Public Works Works in progress—Expenditure on land in process Fund .. .. .. 5,070 0 0 of reclamation, including formation and metalling Value of Crown lands set apart of roads .. .. .. .. .. 521,540 16 10 under the Act .. .. 45,000 0 0 Artesian wells — £ s. d. 859,870 0 0 Crown tenants, Hauraki Plains .. 433 2 5 Discharged Soldiers Settlement Account —Merged Permanent reserves and Crown interests under section 20, Discharged Soldiers lands .. .. .. 216 10 9 Settlement Amendment Act, 1923 .. . . 435 6 9 649 13 2 Consolidated Fund— Buildings .. .. .. .. .. 5,328 16 3 Interest on debentures under £ s. d. Wharves .. .. .. .. .. 3,959 5 0 Local Bodies' Loans Act, 1908 22,083 6 8 Machinery and plant .. .. .. .. 43,379 18 2 Interest on expenditure out of Live-stock .. .. .. .. .. 65 5 0 Public Works Fund .. 4,867 4 0 Loose tools .. .. .. .. .. 271 10 9 Interest on temporary loans .. 628 911 Stores and fuel .. .. .. .. 4,773 11 3 Rates unpaid, 1917-21 .. 31 13 2 Stamps on hand .. .. .. .. 110 Interest on debentures under Sundry debtors— £ s. d. Hauraki Plains Act, 1926 .. 123,833 14 3 Rent .. .. .. 3,401 3 4 151,444 8 0 Rates .. .. .. 3,273 9 10 Interest on debentures accrued but not due .. 6,134 11 1 Instalments of principal on deSundry creditors— £ s. d. ferred-payment sales .. 129 15 11 Miscellaneous .. .. 1,840 0 2 Interest on deferred-payment sales 163 19 0 Departmental .. .. 39 14 3 Interest on well-boring .. 103 16 5 1,879 14 5 Law-costs .. .. .. 92 10 10 Rents charged in advance .. .. .. 2,375 0 0 Ferry fares and tram freights .. 79 16 9 Rate Account .. .. .. .. .. 1,076 8 6 Grazing .. .. .. 80 8 8 Suspense Account .. .. .. .. 71 13 11 Royalties .. .. . . 247 14 1 Writings-off in Suspense .. .. .. 193 11 2 Miscellaneous .. .. 6,275 12 7 Payments in advance — £ s. d. Departmental .. .. 749 1 6 Rent .. .. .. 50 5 5 14,597 8 11 Interest on deferred - payment Postponed rent .. .. .. .. 627 11 3 sales .. .. .. 0 17 Losses in Suspense .. .. .. .. 193 11 2 Rates .. .. .. 14 11 Interest accrued but not due on sales .. .. 134 0 0 51 11 11 Investment in Public Debt Redemption Fund .. 9,513 11 3 Revenue Account —Balance forward .. .. 146,339 1 1 Cash in transit from Post Office .. .. 0 13 Cash in Public Account .. .. .. 44 10 4 £1,023,532 5 9 £1,023,532 5 9 W. Robertson, Under-Secretary for Lands. W. E. Shaw, Accountant. I hereby certify that the Receipts and Payments, Rate and Revenue Accounts, 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: (1) In the opinion of the Audit Office interest charged on works in progress should be capitalized. (2) A Bad Debts Reserve should be created. (3) Suggestions in reference to the treatment of expenditure on lands already handed over for settlement were made to and are at present under consideration by the Department.—J. H. Fowler, DeputyController and Auditor-General. Approximate Cost of Paper. —Preparation, not given; printing (665 copies), £8 10s.

By Authority : W. A. G. Skinner, Government Printer, Wellington.—l 932.

Price 6d.]

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