B—l [Pt. IV].

WESTPORT HARBOUR ACCOUNT. & Income and Expenditure Account for the Year ended 31st March, 1940. Expenditure. £ Income. £ Dredging .. .. .. •• •• 20,147 Special coal rate .. .. .. .. .. 20,419 Harbour maintenance .. .. .. •• 4,199 Endowment revenue .. .. .. .. 12,618 Breakwater protective works .. .. .. 1,888 Port dues .. .. .. .. .. .. 4,158 Payment to Public Works Department: Westport Sale of stores, &c. .. .. .. .. .. 161 Harbour improvements .. . • •. • • 4 Hire of plant .. .. .. .. .. 412 Working-expenses of tug and launch .. .. .. 204 Rent .. .. .. .. .. .. 60 Office administration (local) . . .. .. .. 1,193 Use of transmission-line .. .. .. .. 35 Endowments : Administration expenses .. .. 441 Subsidy in respect of employment promotion .. .. 34 Audit fees .. .... .. .. 40 Supervision of explosives magazine .. .. .. 75 Telephone services .. .. . • . ■ • • 75 Miscellaneous .. .. .. .. .. 8 Compensation for accidents .. .. .. .. 72 Balance carried down .. .. .. ..10,849 Travelling-expenses .. .. .. • • 55 Head Office administration .. .. .. .. 600 Depreciation — £ Buildings .. .. • • • • 138 Dredge wharf, &c. .. .. .. 137 Dredges, launches, &c. .. .. .. 2,276 2,551 Interest on loans .. .. . • .. •• 17,360 £48,829 £48,829 £ £ Balance brought down .. .. .. 10,849 Excess expenditure over income carried down .. .. 17,319 Transfer to Sinking Fund .. .. .. •• 6,470 £17,319 £17,319 £ £ Excess expenditure over income, 31st March, 1940, Balance carried down .. .. .. ..38,291 brought down .. .. .. .. •• 17,319 Balance, 31st March, 1939 .. .. .. •• 20,972 v £38,291 £38,291 £ Balance .. .. .. .. •• £38,291 Ivote. —No charge for the cost of exchange on payments made in London is included in the account.

Balance-sheet as at 31st March, 1940. Liabilities. £ Assets. Loan capital— Endowment lands — £ £ New Zealand Loans Act, 1932 — Leased .. .. .. .. 36,614 3 per cent, stock .. .. .. .. 237,559 Unleased .. .. .. 22,987 4 per cent, debentures .. .. .. .. 6,412 59,601 5 per cent, debentures .. .. .. .. 117,353 Breakwaters .. .. .. .. .. 344,333 Westport Harbour Act, 1920 — Training-walls .. .. .. .. .. 102,998 5 per cent, debentures .. .. .. 8,251 Protective works and relief channel .. .. .. 17,384 Limestone-quarry .. .. .. .. 128 369,575 Gridiron.. .. .. .. .. .. 1,361 Finance Act, 1932, section 16 .. ... .. 92,421 Dredge wharf .. .. .. .. .. 1,023 Martin's Island .. .. .. .. .. 700 461,996 Harbour buildings .. .. .. .. 1,986 Endowment capital .. .. .. .. 59,744 Dredges, tug" Mana," plant, &e. .. .. .. 11,450 Sinking Fund reserve .. .. .. .. 235,560 Cape Foulwind Railway .. .. .. .. 8,251 Writing-off Reserve Account .. .. .. 40 Office furniture and fittings .. .. .. 19 Payments in advance .. .. • •• 453 Stock and stores .. .. .. .. .. 5,150 Creditors — £ Breakwater Repairs Suspense Account .. .. 5,910 Accrued interest .. .. .. 1,133 Debtors— £ Departmental .. .. .. .. 321 Accrued revenue .. .. .. 1,805 Sundry .. .. .. •. 922 Departmental .. .. .. .. U6 2,376 Sundry .. .. .. .. 2,160 Treasury Adjustment Account .. . . .. 78,097 4,081 Sinking Fund investments .. .. .. 235,560 Writing-off Suspense Account .. .. .. 40 Excess expenditure over income .. .. .. 38,291 £838,266 £838,266

L. B. Campbell, Secretary of Marine. William C. Smith, 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 explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV]. —Cyril G. Collins, Controller and Auditor-General.

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