B- I [FT. IV], SUP. TO 1938.

TREASURY: MISCELLANEOUS. Income and Expenditure Account for the Year ended 31st March, 1938. Expenditure. Income. £ s. <1 £ s. d. £ s. d. Profits of Reserve Bank and trading institutions 123,088 19 3 Interest on loans .. 10,099,791 11 0 Interest on cash balances .. .. .. 187,707 11 0 Less already included in Interest charged on Public Works Fund and other accounts .. 5,745,238 0 9 Consolidated Fund Capital .. .. 1,591,101 12 8 4,354,553 10 3 Gold duty ... .. .. 2,363 5 4 Cost of exchange (unrecouped) .. .. 1,827,677 II 11 Unclaimed moneys .. .. .. 5,648 16 6 Subsidies to superannuation funds .. .. 200,000 0 0 Sundry receipts .. .. .. .. 44,693 13 4 Miscellaneous .. .. .. .. 61,370 0 7 Excess of expenditure over income .. .. 4,488,997 4 8 £6,443,601 2 9 £6,443,601 2 9 Balance-sheet as at 31st March, 1938. Liabilities. Assets. £ s. d. £ s. d. £ s. d. Cash in Public Account .. .. .. 3,362,599 11 9 Public debt .. .. 290,201,341 19 5 Cash and investments: Receiver-General's Less portion allocated to Deposit Account .. .. .. 74,196 15 8 other balance-sheets 215,550,594 12 2 Interest on Investments of Treasury Accounts : 74,650,747 7 3 Accrued .. .. .. .. 8,079 8 9 Interest on public debt: Accrued .. .. 1,672,304 11 9 Interest due but not paid .. .. .. 75 13 8 Interest on investments paid in advance .. 763 13 II Sinking-fund investments .. .. .. 358,168 12 6 Sundry depositors .. .. .. 1,669,542 6 7 Deposit with Bank of International Settlements 36,023 0 0 Sinking Fund Reserve .. .. .. 358,168 12 6 Investment in Reserve Bank .. .. 1,626,287 10 0 Treasury Adjustment Account .. .. 4,284,018 5 4 Investment in State Advances Corporation 1,034,688 9 0 Interest on loans paid in advance .. .. 1,880 2 9 Miscellaneous loan expenditure .. . . 71,644,548 8 7 Income and Expenditure Account .. .. 4,488,997 4 8 £82,635,544 17 4 £82,635,544 17 4 A. R. F. Mackay, M.Com. (N.Z.), Ph.D. (Loud.), Accountant to the Treasury. Treasury Notes. —(1) The above accounts include certain income, expenditure, assets, and liabilities of the State which cannot be appropriately recorded in any other departmental accounts. (2) The asset account —Miscellaneous Loan Expenditure—is included to represent expenditure of certain loan-moneys not represented by tangible assets. (3) Details of that part of the public debt shown in the above balance-sheet are :— £ s. d. Reserve Bank investment .. .. .. .. .. .. 1,626,287 10 0 State Advances Corporation investment .. .. .. .. .. 1,034,688 9 0 Housing properties .. .. . . .. . . . . . . 1,125 0 0 War expenses .. .. .. .. .. .. .. 62,830,617 16 6 Miscellaneous .. .. .. .. .. .. .. 7,423,149 10 8 Naval defence .. .. .. .. .. .. .. 1,389,656 1 5 Westport Harbour .. .. .. .. .. .. .. 244,675 9 11 State Advances Corporation (miscellaneous) .. .. .. . . 100,547 9 9 £74,650,747 7 3 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 the commencement of parliamentary return 8.-l [Pt. IV]. —J. H. Fowler, Controller and Auditor-General.

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