If.—B.

-Revenue Account of the (Government Life Insurance Department for the Year ended 31st December, 1937. £ s. d. £ s. d. Amount of funds at Ist January, 1937.. 9,952,310 18 1 Death claims under assurance policies, Renewal premiums—-Assurance, annu- including bonus additions .. 209,161 4 0 ity, and endowment, less reinsurance Endowment assurances matured, includpremiums .. .. .. 630,885 9 10 ing bonus additions .. .. 330,932 0 5 New premiums (including instalments Endowments matured .. .. 12,841 19 0 of first year's premiums falling due Premiums returned on endowments .. 373 5 9 in the year) less reinsurance premiums 75,094 7 10 Bonuses surrendered for cash .. 7,004 6 5 Single premiums—Assurance and en- Annuities .. .. .. 33,56370 dowment .. .. .. 59,166 6 8 Surrenders .. .. .. 37,501 8 7 Consideration for annuities .. .. 44,771 18 3 Loans released by surrender.. .. 63,759 6 0 Interest, rent, and other £ s. d. £ s. d. income .. 444,911 10 6 Commission, new .. 56,213 16 6 Less land and in- ~ renewal 5,398 13 2 come tax, £34,096 — 61,612 9 8 17s. Id.; property Contribution to Public Service Superexpenses, £1,427 annuation Fund .. .. 732 1 4 4s. 4d. .. 35,524 1 5 £ s. d. — 409,387 9 1 Expenses of management— Salaries .. .. 43,584 2 8 Extra clerical assistance .. .. 568 9 0 Medical fees and expenses .. .. 2,594 13 6 Travelling-expenses 829 9 9 Advertising .. 1,751 1 1 Printing and stationery .. .. 1,995 6 4 Rent .. .. 4,660 19 7 Postage and telegrams .. .. 1,857 2 5 Exchange.. .. 64 3 11 Audit fees .. 325 0 0 General expenses .. 5,574 13 10 63,805 2 1 Property depreciation .. .. 1,081 13 1 Amount of funds, 31st December, 1937 10,349,248 6 5 £11,171,616 9 9 £11,171,616 9 9 Balance-sheet of the Government Life Insurance Department on 31st December, 1937. Liabilities. £ s. d. Assets. £ s. d. Total assurance, annuity, and en- Loans on policies .. .. .. 1,242,926 19 9 dowment funds (as per Revenue New Zealand Government securities .. 2,519,160 0 0 Account) .. .. .. 10,349,248 6 5 Loans to local bodies .. .. 1,798,322 1 9 Claims admitted, proofs not yet Landed and house property .. 369,435 8 1 completed .. .. .. 44,444 5 0 Landed and house property (leasehold) 1,201 11 5 Annuities .. .. .. 324 4 11 Mortgages on property .. .. 4,575,854 9 3 Medical fees .. .. .. 361 4 0 Properties acquired by foreclosure .. 23,631 1 1 Premium and other deposits .. 19,013 4 7 Overdue premiums on £ s. d. Sundry creditors .. .. .. 10,403 18 11 policies in force .. 4,132 13 7 Accident and Fidelity Fund.. .. 5,000 0 0 Outstanding premiums Investment Fluctuation Reserve . . 411,954 12 3 due but not overdue 54,896 2 4 Sinking funds on local £ s. d. 59,028 15 11 body loans .. 12,485 16 11 Overdue interest .. 26,245 13 7 Interest accrued there- Outstanding interest on .. .. 177 14 0 due but not overdue 12,520 3 11 12,663 10 11 Interest accrued but not due .. .. 99,299 17 8 138,065 15 2 Sundry debtors .. .. .. 1,481 19 2 Income-tax paid in advance.. .. 30,000 0 0 Cash in hand and on current account.. 94,305 5 5 £10,853,413 7 0 £10,853,413 7 0 W. E. Arnold, Commissioner. J. W. Macdonald; Secretary. Government Life Insurance Department. The Audit Office, having examined the Revenue Account and Balance-sheet, and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. —-J. H. Fowler, Controller and Auditor-General.

2—H. 8.

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