B.—l [PT. IV], SUP. TO 1932.

NATIONAL ENDOWMENT ACCOUNT. Receipts and Payments Account for the Year ended 31st March, 1932. Receipts. £ s. d. Payments. £ s. d. To Balance at Ist April, 1931.. .. .. 113,393 2 7 By Land Act, 1924, section 295 (2): AdministraRents from national-endowment lands .. 71,877 5 7 tion expenses .. .. .. .. 3,581 5 7 Interest on sales of land .. .. .. 1,049 18 3 Land Act, 1924, sections 139, 295, and 357 : Transfer from State Forests in terms of sec- "Thirds," &c. .. .. .. .. 2,045 11 0 tion 39 (2), Forests Act, 1921-22 .. 6,337 2 4 Payments to universities of portion of nationalInterest on investments : National-endowment endowment residue .. .. .. 11,339 6 3 trust moneys .. .. .. . • 14 16 8 Transfer to vote " Education " of portion of Interest, section 13, Land Laws Amendment national-endowment residue .. .. 68,035 17 7 Act, 1930 .. .. • • • • 750 0 0 Portion of national-endowment residue applied in payment of old-age pensions .. .. 34,017 18 9 Refunds arising from operation of section 6, Deteriorated Lands Act, 1925 .. .. 205 12 5 Balance as at 31st March, 1932 .. .. 74,196 13 10 £193,422 5 5 £193,422 5 5 Revenue Account for the Year ended 31st March, 1932. Br. £ s- d. Gr. £ s. d. To Administration expenses .. .. .. 3,525 12 8 By Accrued rents .. .. .. .. 136,172 10 0 Remissions — Accrued royalties .. .. . • 1,291 15 3 Under Land Act, 1924 .. .. .. 1,624 11 5 Accrued interest .. .. .. .. 3,685 15 3 Under Deteriorated Lands Act, 1925 .. 1,898 1 0 Coal rents .. .. .. .. 1,054 14 4 By Dominion Revaluation Board .. 30 3 4 Royalties from State forests .. .. 3,582 13 9 Rents written off: Writings-off in Suspense.. 1,320 14 11 Interest on investment of national-endowment Interest charges under section 20 (3), Dis- trust moneys .. .. .. .. 1,939 14 3 charged Soldiers Settlement Amendment Recovery rents previously written off .. 4 11 9 Act 1923 • • ■ • • • 303 1 1 Suspense Account, Deteriorated Lands Act, Rebates 1,812 6 6 1925 10 3 11 Commission on coal rents .. .. .. 37 16 5 "Thirds" .. .. •• 2,018 1 10 "Halves" 50 0 0 Balance carried down .. .. .. 135,121 9 4 £147,741 18 6 £147,741 18 6 £ s. d. £ s. d. To Contributions for education and old-age By Balance brought down .. .. .. 135,121 9 4 pensions .. .. .. ■■ 74,196 13 10 Balance from previous year .. .. 28,268 10 2 Adjustment Account, previous year .. 209 18 11 Adjustment Account, previous year .. 60 17 4 Balance, carried forward .. .. .. 89,044 4 1 £163,450 16 10 £163,450 16 10 Balance-sheet as at 31st March, 1932. Liabilities. £ s. d. Assets. Capital Account .. .. .. .. 4,395,198 10 5 Land— £ s. d. £ s. d. Public Works Fund .. . • • • 4,441 16 2 Leased .. .. 3,513,392 3 2 Merged interests under section 20, Discharged Unleased .. .. 338,210 11 7 Soldiers Settlement Amendment Act, Provisional State forest .. 433,785 17 6 1923— £ s. d. —■ 4,285,388 12 3 Advances .. .. 6,017 3 9 Land subject to section 6, Land Laws AmendInstalment, principal .. 247 16 6 ment Act, 1929 .. .. .. ■■ 6,246 7 3 Interest .. .. .. 551 0 4 Improvements to be loaded on capital value of 6,816 0 7 leased sections .. .. .. .. 137 6 1 Sundry creditors — Buildings .. .. .. .. 790 0 10 Contribution for education National Endowment Trust Account .. 114,464 12 3 and old-age pensions .. 74,196 13 10 Land for Settlements Account: Interest on Miscellaneous .. .. 266 15 0 national-endowment trust moneys.. .. 1,174 17 7 Departmental .. .. 38 12 0 Sundry debtors for £ s. d. 74,502 010 Rents.. .. .. 113,100 16 6 Payments in advance — Less reserve .. .. 750 0 0 Rents .. . . • • 2,348 17 0 Interest on sales .. .. 429 13 8 112,350 16 6 Royalties .. .. 27 0 4 Royalties .. .. 505 5 5 2,805 11 0 Coal rents .. .. 1,198 2 9 Rents charged in advance .. .. .. 50,467 8 6 Interest on sales .. .. 2,561 8 0 Overpaid rents in Suspense as a result of capital Principal instalments on reductions under Deteriorated Lands Act, buildings .. .. 123 4 6 1925 .. .. .. .. .. 1,160 5 9 Departmental .. .. 7,864 810 Buildings Suspense Account .. .. 53 15 9 124,603 6 0 Writings-off in Suspense .. .. 1,005 2 4 Postponed rents .. .. .. .. 16,639 1 7 Revenue Account: Balance forward .. 89,044 4 1 Interest on sales accrued but not due. . .. 848 15 5 Losses in Suspense Account .. .. 1,005 2 4 Cash balance, 31st March, 1932 .. .. 74,196 13 10 £4,625,494 15 5 £4,625,494 15 5 W. Robertson, Under-Secretary for Lands. Wm. E. Shaw, Accountant. I hereby certify that the Statement of Receipts and Payments, 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. The following comment is appended : The charges on land with respect to expenditure under section 47 of the Land for Settlements Act, 1925, or the corresponding provisions of any former Act, have not been abolished as required by section 17 (5) (b) of the Land Laws Amendment Act, 1927. —J. H. Fowler, Deputy Controller and Auditor-General.

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