B.—l [PT. IV].

LANDS AND SURVEY DEPARTMENT—continued. HUTT VALLEY LANDS SETTLEMENT ACCOUNT. Trading Account for Year ended 31st March, 1932. Dr. £ s. d. Cr. £ g . d. To Land on hand, Ist April, 1931 .. .. 64,135 0 0 By Sales of land .. .. .. .. 6 10 Purchase of land .. .. .. .. 45 0 0 Land on hand, 31st March, 1932 .. .. 74,787 0 0 Sections forfeited .. .. .. .. 20,975 5 3 Balance transferred to Profit and Loss Account 12,660 510 Incidental expenses .. .. .. 48 14 9 Expenditure on flood protection, filling and levelling sections, &c.* .. .. .. 2,249 610 £87,453 6 10 £87,453 6 10

* Expenditure on flood protection apportioned between Trading Account and Appropriation Account on an area basis.

Profit and Loss Account for Year ended 31st March, 1932. Dr. £ s. d. Cr. £ s. d. To Trading Account .. .. .. .. 12,660 5 10 By Accrued rent .. .. .. .. 216 6 8 Administration expenses .. .. .. 189 811 Accrued interest .. .. .. .. 11,318 11 2 Interest on capital provided out of Land for Interest on investments .. .. .. 149 9 6 Settlements Account .. .. .. 6,139 14 0 Profit and Loss Appropriation Account .. 8,060 14 1 Losses written off .. .. .. .. 439 16 1 Rates .. .. .. .. .. 296 16 7 Insurance premiums not recoverable.. .. 2 9 7 Repairs .. .. .. .. .. 15 7 0 Refund of amount overpaid, section 5 (4) (a) of Hutt Valley Lands Settlement Act, 1927 .. 1 3 5 £19,745 1 5 £19,745 1 5 Profit and Loss Appropriation Account. Dr. £ S. d. Cr. £ s. d. To Profit and Loss Account —Net loss for year By Balance brought forward .. .. .. 144,652 1 0 ended 31st March, 1932.. .. .. 8,060 14 1 Expenditure on flood protection* .. .. 1,909 10 0 Net profit to 31st March, 1932 .. .. 134,681 16 11 £144,652 1 0 £144,652 1 0

♦ Expenditure'on flood protection apportioned between Trading Account and Appropriation Account on an area basis.

Balance-sheet as at 31st March, 1932. Liabilities. Assets. £ s. d. Land for Settlements Account— Land on hand .. .. .. .. 74,78700 Moneys provided for — £ s. d. £ s. d. Railway Improvement Authorization Act, 1914— Purchase of land .. 164,760 II 9 Balance unpaid on area taken for workshops .. 26,389 8 0 Street-formation.. .. 206,915 5 5 Sundry debtors — £ s. d. Incidental expenses .. 15,641 8 5 Sales of land (not yet payable) 195,277 7 2 387,317 5 7 Rents .. .. .. 106 5 5 Railway Improvements Authorization Act, 1914 — Principal instalments .. 1,729 14 0 Purchase of land .. .. .. .. 11,660 0 0 Interest on sales .. .. 7,608 13 0 • Miscellaneous .. .. 1 10 0 398,977 5 7 Departmental .. .. 230 0 0 Less repayments under section 11 — 204,953 9 7 (2) of the Hutt Valley Lands Interest accrued but not due .. .. .. 1,015 19 4 Settlement Act, 1925— £ s. d. Outstanding losses in Suspense .. .. 393 4 5 Land for settlements .. 271,398 5 3 Cash in Public Account .. .. .. 91 15 11 Railway Improvements Authorization Act, 1914 .. 11,660 0 0 283,058 5 3 Capital .. .. .. .. .. 115,919 0 4 Land for settlements —Interest on capital provided for purchase of land, &c. .. .. .. 55,617 3 2 Railway Improvements Authorization Act, 1914— Interest on cost of land .. .. .. 1,014 14 1 Sundry creditors —Miscellaneous .. .. 1 10 0 Rents due but not accrued .. .. .. 3 8 4 Writings-off in Suspense .. .. .. 393 4 5 Profit and loss appropriation .. .. .. 134,681 16 11 £307,630 17 3 £307,630 17 3 W. Robertson, Under-Secretary for Lands. Wm. E. Shaw, Accountant. I hereby certify that the Trading Account, Profit and Loss 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, subject to the above departmental note, —J. H. Fowler, Deputy Controller and Auditor -General,

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