B.—l [PT. IV], SUP. TO 1932.

WAIHOU AND OHINEMURI RIVERS IMPROVEMENT ACCOUNT. Income and Expenditure Account for the Year ended 31st March, 1932. Expenditure. Income. To Interest for 1931-32 — £ s. d. By Contribution from— £ s. d. £ s. d. First loan (£150,000) .. .. .. 6,000 0 0 Gold-mining companies .. 1,222 12 6 Second and subsequent loans .. .. 22,620 5 5 Gold duty.. .. 3,667 17 4 Public Works Fund capital .. .. 681 13 8 Consolidated Fund .. 1,222 12 6 Maintenance of works .. .. .. 1,355 14 10 6,113 2 4 Rents of cottages and royalties from sale of sand .. .. .. .. .. 334 14 6 Interest credited for 1931-32 on investments in Public Debt Redemption Fund .. 187 4 10 Balance, being deficiency for the year, carried down .. .. .. .. .. 24,022 12 3 £30,657 13 11 £30,657 13 11 £ s. d. £ s. d. To Accumulated deficiency to 31st March, 1931 .. 149,940 8 0 By Balance carried forward .. .. .. 173,963 0 3 Deficiency for 1931-32 .. .. .. 24,022 12 3 £173,963 0 3 £173,963 0 3 Balance-sheet as at 31st March, 1932. Liabilities. Assets. Loan liability— £ s. d. £ s. d. £ s. d. £ s. d. Debenture? at— Land purchase and compensation 3,605 12 5 4 per cent. .. .. 644,925 0 0 Fencing .. .. .. 3,996 711 4J per cent. .. .. 20,075 0 0 Clearing and destroying willows .. 52,158 0 9 5J per cent. .. .. 35,000 0 0 Moving of houses .. .. 4,016 4 1 700,000 0 0 Flood-gates .. .. .. 45,614 16 4 Liability to Public Works Fund .. .. 20,297 3 9 Interior drainage .. .. 56,202 11 5 Liability to Consolidated Fund for Canals .. .. .. 11,789 13 8 unrecouped expenditure— Bridges .. .. .. 8,458 11 9 First loan: Interest .. .. 32,177 18 10 Stop-bank formation .. .. 479,432 4 3 Second and subsequent loans — Surveys, engineering, investigaInterest .. .. .. 162,734 10 1 tions, &c. .. .. .. 21,392 7 5 Sinking fund .. .. 1,612 10 8 Gauges .. .. .. 2,207 611 Public Works Fund capital .. 681 13 8 Slips, groynes, and dredging at Maintenance of completed works 7,412 4 6 wharves .. .. .. 3,076 14 9 204,618 17 9 Wharves and good-sheds .. 9,927 5 7 Sundry creditors — Stores and tools on hand .. 3,120 17 5 Works, &c. .. .. .. 2,565 3 4 Buildings and accommodation .. 397 10 0 Accrued interest .. .. 4,623 5 7 Plant, £51,139 75.: less deprecia7,188 811 tion charged to works, £45,993 7s. 5,146 0 0 Sinking Fund Reserves — Pontoons .. .. .. 1,136 10 0 First loan .. .. .. 3,304 0 4 Maintenance during construction.. 3,820 8 4 Second and subsequent loans .. 1,612 10 8 Contribution towards Criterion and 4,916 11 0 Ohinemuri Bridges and Paeroa Station yard .. .. 11,480 0 0 726,979 3 0 Advance to Waihi Borough — Finance Act, 1923, section 10 .. .. 1,997 7 9 Debtors for contributions towards interest, sinking fund, and maintenance — Gold-mining companies .. 1,231 15 10 Gold duty .. .. .. 19,150 5 9 Consolidated Fund .. .. 2,403 1 4 22,785 2 11 Sundry debtors : Miscellaneous .. .. 552 5 6 Investments, Public Debt Redemption Fund — First loan .. .. .. 3,304 0 4 Second and subsequent loans .. 1,612 10 8 4,916 11 0 Interest credited .. .. 1,564 4 5 6,480 15 5 Treasury Adjustment Account .. .. 4,263 6 7 Income and Expenditure Account: Accumulated deficiency on interest, sinking fund, and maintenance charges to 31st March, 1932 .. .. 173,963 0 3 £937,021 1 5 £937,021 1 5 J. J. Gibson, Accountant, Public Works Department. I hereby certify that the Income and Expenditure 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 deficiency in contributions towards expenditure has not been met by levying a rate as required by section 17, subsection (4) (d), Waihou and Ohinemuri Rivers Improvement Act, 1910. —G. F. C. Campbell, Controller and Auditor-General.

126