H.—B.

Revenue Account of the Government Life Insubance Depaetment foe the Year ended 31st December, 1931. £ s. d. £ s. d. Amount of funds at Ist January, 1931 8,248,847 5 9 Death claims under assurance policies, Renewal premiums—Assurance, an- including bonus additions .. 200,425 5 0 nuity, and endowment .. .. 611,608 16 6 Endowment assurances matured, inNew premiums (including instalments eluding bonus additions .. .. 274,286 18 0 of first year's premiums falling Endowments matured .. 9,149 0 0 due in the year) less reinsurance Premiums returned on endowments .. 151 17 7 premiums .. .. .. 45,889 6 6 Bonuses surrendered for cash .. 14,954 10 11 Single premiums — Assurance and en- Annuities.. .. .. 23,756 16 8 dowment .. ... .. 4,881 14 7 Surrenders 0 6 Consideration for annuities .. .. 18,065 18 11 Loans released by surrender 88,428 16 1 £ s. s. £ s. d. Interest and rent .. 484,526 13 11 Commission, new* .. 28,288 9 1 Less land and income „ renewal .. 4,466 4 0 tax, £18,753 Is. 3d.; 32,754 13 1 property expenses, Contribution to Public Service Super£2,4B9 ss. 7d. .. 21,242 610 annuation Fund .. .. 725 6 9 463,284 7 1 Expenses of management — Salaries. £s. d. Head Office .. 19,949 4 0 Branch offices and agents .. 11,872 17 4 Extra clerical assistance .. .. 3,129 18 0 Payment to Treasury under Finance Act, 1931 (No. 2) .. 2,748 18 0 Medical fees and expenses .. .. 1,868 3 6 Travelling-expenses 466 7 1 Advertising .. 397 15 11 Printing and stationery .. .. 1,520 3 3 Rent .. .. 4,888 410 Postage and telegrams .. .. 2,550 2 8 General expenses .. 4,729 18 9 54,121 13 4 Contribution to Hawke's Bay Earthquake Relief Fund .. .. 500 0 0 Cash lost in Hawke's Bay earthquake.. 51 6 5 Written off on account of demolition of Head Office building .. .. 15,000 0 0 Property depreciation .. .. 1,250 0 0 Transfer to Investment Fluctuation Reserve Account .. .. 40,000 0 0 Amount of funds, 31st December, 1931 8,568,627 5 0 £9,392,577 9 4 £9,392,577 9 4 1 — * Including agents' allowances. — Balance-sheet of the Government Life Insurance Department on 31st December, 1931. Liabilities. Assets. £ s. d. £ ( s. d. Total Assurance, Annuity, and Endow- Loans on policies .. ..• .. 1,198,959 12 11 ment Funds (as per Revenue Account) 8,568,627 5 0 New Zealand Government securities .. 2,235,460 0 0 Claims admitted, proofs not yet com- Rural Advances Bonds .. .. 85,569 0 0 pleted .. .. .. .. 33,523 16 0 Municipal Corporation debentures .. 262,910 3 5 Annuities .. .. .. 220 10 4 County securities .. .. .. 122,070 1 7 Commission .. .. .. 640 14 4 Harbour Board debentures .. .. 26,500 0 0 Medical fees .. .. .. 131 5 0 Town Board debentures .. .. 27,129 911 Premium and other deposits .. 8,309 8 2 ; Road Board debentures .. .. 21,800 0 0 Sundry creditors .. .. .. 7,237 19 1 Drainage Board debentures .. 1,727 4 0 Accident and Fidelity Fund .. 4,851 18 5 Power Board debentures .. .. 717,726 17 5 Investment Fluctuation Reserve .. 270,694 12 10 Landed and house property .. 124,746 0 1 Sinking Funds on Local Body Loans 18,621 010 Landed and house property (leasehold) 1,837 15 8 Mortgages on property .. .. 3,777,109 0 10 Properties acquired by foreclosure .. 10,042 7 0 Overdue premiums on £ s. d. policies in force .. 10,788 5 2 Outstanding premiums due but not overdue 60,238 13 1 71,026 18 3 Overdue interest .. 50,992 13 1 Outstanding interest due but not overdue 15,072 15 2 Interest accrued but not due .. .. 116,832 0 8 182,897 S-4J Agents' balances .. .. .. 51 19 5 Sundry debtors .. .. .. 733 11 5 Deposited with bank .. .. 20,000 0 0 Cash in hand and on current account.. 24,560 19 2 £8,912,858 10 0 £8,912,858 10 0 A. E. Allison, Commissioner. Government Life Insurance Department. H. Rose, Secretary. The Audit Office, having examined the Revenue Account and Balance-sheet, and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. —G. F. 0. Campbell, Controller and Auditor-General. 2—H. 8.

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