G.—ll.

1941. NEW ZEALAND.

MAORI PURPOSES FUND BOARD (ANNUAL REPORT FOR THE YEAR ENDED 31st MARCH, 1941).

Presented to both Houses of the General Assembly pursuant to Section 14 (2), of the Maori Purposes FundAct, 1934-35.

g IR Maori Purposes Fund Board, Wellington, 23rd May, 1941. In compliance with the provisions of section 14 of the Maori Purposes Fund Act, 1934-35, I have the honour to submit a report of the operations and commitments of the Maori Purposes Fund Board for the financial year ended 31st March, 1941, and the estimates of income and expenditure for the ensuing year. I have, &c., Colin W. Morrison, Secretary. To the Hon. Mr. Frank Langstone, Chairman, Maori Purposes Fund Board.

Personnel op the Board. Doctor C. E. Beeby, Director of Education, was welcomed as a member, vice Mr. N. T. Lambourne, retired. Members reappointed by His Excellency the Governor-General in Council for a further statutory term of three years were the Right Hon. Mr. J. G. Coates, M.P., and Mr. Johannes C. Andersen from 4th September, 1940, and Mr. Gilbert Archey from 30th April, 1941. Meetings. During the year under review the statutory annual meeting and one general meeting were held. Finance. The balance of the Board's fund invested at call with the Native Trustee as at 31st March, 1941, was £44,326. The cash receipts for the year, including interest of £1,734 at 3 per cent, on the amount lodged with the Native Trustee, a grant of £375 from the Consolidated Fund, and contributions of £620 for specific purposes from Maori Land Boards, aggregated £2,929. The cash payments, totalling £17,157, comprised administration expenses of £316 ; purchase of assets, £50; and grants : —Government Free Place Scholarships, £500 ; Polynesian Society, £300 ; balance of principal and interest to Turakina Maori Girls' College, £2,882 ; St. Peter's Rural Training School for Maori Boys, £1,708 ; and St." Stephen's Maori Boys' College, £10,675; and other grants of £726. The Accumulated Fund of the Board at 31st March, 1941, was £46,986, in addition to which there are the balance of the Carnegie Corporation Fund of £342 and other special funds aggregating £254. The excess of income over expenditure for the year amounted to £100. Estimates, 1941-42. The estimates of income and expenditure for the ensuing year ending 31st March, 1942, are appended below: — Income,. £ lixpenditure. £ £ Interest on cash with Native Trust Office at 3 per cent. . . 1,270 Administration expenses — Grant from Consolidated Fund . . .. .. 375 Audit fee . . .. .. 21 Rent from cottages and workshop, Rotorua .. . . 40 Commission: Native Trustee .. .. 62 Profit on sale of publications .. .. .. .. 1 Depreciation on assets .. .. 40 Freight and cartage .. .. .. .. 10 Insurance .. .. .. .. 12 Maintenance : Cottages and school, Rotorua .. 35 Printing and stationery .. .. .. 5 Rent and rates .. .. .. ..110 Salary .. .. .. .. 35 Sundry expenses .. .. .. 10 Water, cleaning, &c. .. .. .. .. ]0 350 Grants (subject to approval of Board) — Educational: Government Free Place Scholarships, 1941 . . .. . . .. .. 500 Ethnological: Polynesian Society .. .. 300 General: Half-salary, Princess Te Puea Herangi (1940-41) .. .. .. .. ..104 Miscellaneous .. .. .. .. 432 1,336 £1,686 £1,686