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MISCELLANEOUS BUSINESS BRANCH.—HOUSING ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1934. Liabilities. Assets. Sundry loans— £ s. d. £ s. d. Investment Account : Principal £ s. d. £ s. d. Debentures .. .. .. 412,388 9 4 owing on— Expenditure from Public Works Dwellings purchased .. 267,691 4 7 Fund .. .. .. 319,918 1 7 Sections purchased .. 2,118 7 9 Advances .. .. 164 14 3 732,306 10 11 269,974 6 7 Less loan liability redeemed Temporary advances to Settlers Branch 321,000 0 0 and discharged from Con- Completed dwellings .. .. .. . . 9,645 15 0 solidated Fund .. .. 19,468 9 4 Dwellings let .. .. .. 20,576 15 11 Freehold land .. .. .. .. 26,012 18 8 712,838 1 7 Sinking Fund investments held by Public Debt Less loan liability redeemed Redemption Fund .. .. .. . . *4,709 8 8 by Public Debt Repay- Insurance Fund investment held by Settlers Branch 7'542 12 11 ment Account . . .. 100 0 0 Sundry debtors .. .. .. .. 934 4 1 712,738 I 7 Interest on dwellings and land— £ s. d. Liability to Consolidated Fund in terms of see- Overdue .. .. .. 7,858 19 0 tion 22, Finance Act, 1926 .. .. .. 100 0 0 Accrued .. .. .. '583 11 Sundry creditors .. .. .. .. 78 2 7 7 917 2 11 Suspense Account .. .. .. .. 182 0 0 Rent overdue .. .. .. .. 1,700 19 7 Insurance Fund .. .. .. 8,667 0 4 Insurance premiums— Interest on loans— £ s. d. Overdue .. .. .. 520 16 1 Overdue .. .. .. 17,332 910 Paid in advance .. .. 248 0 0 Aocrued .. .. .. 5,063 410 7gB 16 1 22,395 14 8 Realization Suspense Account .. .. . . 8,694 4 6 Reserve for bad debts .. .. .. 19,880 18 11 Profit and Loss Account .. .. .. 77,777 11 4 Sinking fund .. .. .. .. 1,354 810 Cash in hand and in bank at 31st March, 1934 .. 8,141 10 8 £765,396 6 11 £765,396 6 II • This amount, includes the sum of £3,354 19s. lOd. capital paid into the sinking Jund in accordance with the Public Debt Extinction Act, 1910. Profit and Loss Account for the Year ended 31st March, 1934. Dr ■ £ s - d - Cr. £ s. d. To Management Expenses Account .. .. 1,662 18 0 By Balance, loss for the year .. .. .. 9,374 15 8 Dwellings maintenance .. .. .. 1,566 4 5 Losses on realization of securities, and doubtful securities written down .. .. .. 4,27000 Balance: Interest Account.. .. .. 1,875 13 3 £9,374 15 8 £9,374 15 8 £ s. d. £ S- (j ā To Balance as at 31st March, 1933 .. .. 68,402 15 8 By Balance .. .. .. .. .. 77.777 11 4 Loss for the year .. .. .. .. 9,374 15 8 £77,777 11 4 £77,777 11 4 Interest Account for the Year ended 31st March, 1934. T Df. £ s. d. Or. £ s. d. £ s. d. To Interest on loans .. .. .. .. 21,467 9 7 By Interest on land and dwellings ..10,680 7 2 Interest on loans accrued but not due .. 5,063 410 Less overdue and accrued at 31st March, 1933 .. .. 6,627 1 7 4,053 5 7 Interest on amounts temporarily transferred to Settlers Branch .. .. .. .. 12,666 6 8 Interest on bank balances .. .. .. 18 6 0 Interest on dwellings and land — £ s. d. Overdue at 31st March, 1934 7,858 19 0 Accrued but not due at 31st March, 1934 .. .'. 58 3 11 7,917 2 li Balance transferred to Profit and Loss Account.. 1,875 13 3 £26,530 14 5 £26,530 14 5 Management Expenses Account for the Year ended 31st March, 1934. Dr - £ s. d. Cr. £ s. d. .To Audit Office services .. .. .. 90 0 0 By Balance transferred to Profit and Loss Account.. 1,662 18 0 Cleaning, lighting, heating, and messenger services 25 0 0 Fees paid for special services in respect of securities .. .. .. .. 70 1 3 Postages and telegrams .. .. .. 40 0 0 Post Office services.. .. _ .. .. 60 0 0 Printing and stationery .. .. .. 50 0 0 Public Service Superannuation Fund contribution 40 0 0 Rates .. .. .. .. .. 0 10 2 Rent .. .. .. .. .. 50 0 0 Salaries .. .. .. .. .. 1,152 0 0 Solicitors' costs .. .. .. .. 35 6 7 Valuation Department: Agency work .. 50 0 0 £1,662 18 0 £1,662 18 0 E. 0. Hales, Superintendent. State Advances Office, Wellington, 30th June, 1934. R. Robertson, Accountant. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby — J. H. Fowler, Deputy Controller and Auditor-General.

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