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Revenue Account of the State Fire Insurance Office for the Year ended 31st December, 1937. £ s. d. £ s. d. Premiums after deduction of reinsurances .. 175,725 18 3 Bonus rebate to policyholders .. .. 33,379 4 3 Other receipts— £ s. d. Losses by fire and earthquake (after deduction of Interest, commission, and rent 49,682 19 6 reinsurances) .. .. .. .. 34,794 14 4 Less land-tax .. .. 1,958 7 6 Income-tax .. .. .. .. 35,454 0 0 —— 47,724 12 0 Commission .. .. .. .. 9'632 3 7 Salaries .. .. .. .. .. 30,976 6 6 Contribution to Public Service Superannuation Fund .. .. .. .. .. 473 5 5 Contributions to Fire Boards under the Fire Brigades Act, 1908 .. .. .. 9,602 7 4 Expenses of management— £ s. d. Travelling-expenses .. .. 2,189 0 9 Printing, stationery, and advertising .. .. 1,440 6 1 Rent .. .. .. 1,176 5 7 Exchange .. .. . . 43 15 8 Postages, telegrams, cablegrams, and sundry charges .. 3,253 310 8,102 11 II Office equipment .. .. .. .. 1,424 22 Office premises: Depreciation .. .. 3,172 12 5 167,011 7 11 Reinsurance Reserve .. .. .. 30,000 0 0 Office premises—Written off .. .. .. 26,000 0 0 Amount of fire-insurance funds at end of year . . 439 2 4 £223,450 10 3 £223,450 10 3 Balance-sheet of the State Fire Insurance Office on the 31st December, 1937. Liabilities. Assets. Capital authorized by the State Fire £ £ s. d £ s. d. Insurance Act, 1908 .. .. 100,000 Government securities .. .. .. 643,671 12 0 Less not raised .. .. .. 100,000 Local-authority securities .. .. .. 276,163 19 0 Nil. Rural Advances bonds .. .. .. 14,175 0 0 Bad Debts Reserve .. .. .. .. 1,500 0 0 Fixed deposits and at short call .. . . 70,000 0 0 Reserve Fund .. .. .. .. 746,144 8 8 Land and buildings .. .. .. .. 136,190 2 11 Investments Fluctuation Reserve Fund .. 59,000 0 0 Outstanding premiums .. .. .. 11,128 5 J Reserve for unearned premiums .. .. 104,246 911 Interest accrued but not due .. .. .. 9'310 0 9 Bonus Rebate Reserve .. .. .. 112,500 0 0 Rent accrued or due .. .. .. 2,575 910 Reinsurance Reserve Fund .. .. .. 90,000 0 0 Rent overdue .. .. .. .. 138 0 0 Premium and other deposits .. .. .. 1,054 9 10 Cash in Reserve Bank of New ZeaOutstanding fire and earthquake losses .. 4,509 0 0 land at Wellington, or in transit £ s. d. Government taxes .. .. .. .. 70,454 0 0 to Wellington .. .. 93,372 211 Sundry creditors .. .. .. .. 55,769 2 7 Imprest Account balances: Head Other amounts owing by the Office— £ s. d. Office and branches .. .. 581 9 6 Reinsurance premiums due .. 7,087 13 9 93 953 12 5 Commission .. .. 2,551 7 4 Printing, stationery, and advertising .... 34 6 11 Postages and sundry charges .. 2,016 0 8 11,689 8 8 Fire-insurance funds, as per Revenue Account .. 439 2 4 £1,257,306 2 0 £1,257,306 2 0 3rd June, 1938. J. H. Jerram, General Manager. L. H. Osborn, Deputy General Manager. I hereby certify that the 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.— J. H. Fowler, Controller and Auditor-General.

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