B. —1 [PT. IV], SUP. TO 1938.

STATE FOREST SERVlCE—continued. STATE FORESTS ACCOUNT—continued. Balance-sheet as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Capital Account .. .. .. .. 35,849,694 16 4 Land .. .. .. .. .. 1,158,166 8 1 Loans— Standing forests .. .. .. .. 34,028,189 15 2 Debentures and stock issued— Forest improvements— £ s. d. Rate of Demarcation .. .. 2,093 2 5 Interest. Amount of Loan- Roads, tracks, and fences 21,445 8 5 Per Cent. £ s - d - £ s. d. Protection improvements 236 14 11 6 iy U 9 3i 638,795 0 0 r> * * i * t 5 y 3| 125,000 0 0 Departmental property: Ina nAf\ a m digenous forests — 4 940,450 0 0 Buiklings .. .. 6,679 18 6 „ ~ .. 19 0 Field equipment .. 2,025 19 8 Advance from Consoh- Forest atlas .. .. 1,688 16 2 dated Fund at 4 per Office equipment .. 1,826 10 11 8" ' 3 4 Motor-vehicles .. 3,254 22 q j j•. * ' Telephone lines .. 222 6 2 Sundry creditors— i.-v n r-n t * Consolidated Fund Fire-fighting equipment 157 1 4 Consolidated i und Reference library .. 1,095 9 9 lor loans redeemed on ~, , , . „ conversion Photographic equipment 32 18 8 conversion .. 136,133 14 5 Forest exhibits .. 38 3 8 or in eres pai .. 372,336 14 4 Forest-ecology equipment 17 5 5 For interest accrued .. 21,595 14 5 Forest-entomology equipFor national-endowment ment | 84 10 10 revenue .. .. 22,712 6 6 Timber-testing equipment 599 15 4 On open accounts- Silvicultural-management Departmental creditors 981 16 0 equipment .. .. 19 9 10 Sundry creditors .. 10,6511110 Saleable publications .. 198 8 2 D n , 564,411 17 6 Miscellaneous .. .. 216 9 1 Reserves: General reserve— ,R, r _ r Indigenous forests .. 649,962 19 8 Sund debtors _ Afforestation .. .. 700,337 13 1 Departmental.. .. 6,598 17 8 Liability for- 1,350,300 12 9 Sundry .. .. 98 ,252 H 4 Amounts held in deposit 3,158 19 6 Nurseries and plantationsFixed deposits on contract 1,750 0 0 Nurseries .. .. 25,338 7 9 a. _ 4,908 19 6 Plantations .. .. 4,643,787 6 2 Wntings-off in Suspense 2,096 9 7 Tobacco scheme .. 3i4.34 6 4 Administration expenses not yet allocated .. 9,247 0 8 4,681,807 0 11 Experimental projects .. .. .. 9,667 9 4 Stocks of tree-seed .. .. .. 482 13 5 Utilization : Sawmill plant, creosoting plant, &c. .. .... .... 5,920 14 1 Deposit Accounts— Receiver-General's .. 2,381 7 6 Forest Clerk's .. .. 777 12 0 Fixed deposits on contracts .. .. 1,750 0 0 4,908 19 6 Cash in Public Account .. .. .. 92,891 7 6 Assets in Suspense .. .. .. 2,096 9 7 £40,130,914 18 0 £40,130,914 18 0 Note.—(l) Lands and standing forests other than areas purchased have been valued as follows: Prairie value, ss. per acre; protection, £1 per acre ; merchantable forests, £10 per acre ; accretions during the year have been brought into the accounts at the prairie value of ss. per acre. (2) Plantations have been valued at cost plus compound interest, less returns compounded. (3) The liability for advances from the Consolidated Fund is fixed by section 21 of the Finance Act, 1926, and section 3 of the Finance Act, 1927, at £104,250. £87,405 3s. 4d. only is shown as a liability of this account, £16,844 16s. Bd., representing the expenditure on sand-dune reclamation, having been transferred without statutory authority to the Crown Lands Account. A. D. McGavock, Director of Forestry. W. J. C. Kjnlock. A.R.A.N.Z., Accountant. 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, subject to the departmental notes enfaced thereon, and to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV], —J. H. Fowlek, Controller and Auditor-General.

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