B.—l [Pt. IV].

TEACHERS' SUPERANNUATION FUND. Revenue Account for the Year ended 31st January, 1941. Dr. £ S. d. Or. £ s. d. Balance 31st January, 1940 .. .. 967,075 17 11 Retiring and other allowances .. .. 333,459 7 2 Contributions of members— £ s. d. Contributions refunded— £ s. d. Ordinary .; .. 163,830 14 9 On voluntary retirement .. 25,658 4 8 Serving with H.M. Forces 4,582 12 11 On death of members . . 5,985 1 7 168,413 7 8 On lapse of membership .. 1,185 311 Contributions transferred from other funds .. 1,474 13 6 — 32,828 10 2 Additional contribution from the Governments in— Rebate of contributions under National Expendi- £ s. d. ture Adjustment Act, 1932, section 9 (2), to Fiji .. .. .. 387 15 3 annuitants . . .. . • • ■ 216 5 4 Tonga .. .. .. 21 2 7 Contributions transferred to other funds .. 1,680 0 2 408 17 10 Administration expenses— £ s. d. Government Subsidy — Commission, G.P.O. .. 657 8 6 Under section 10, Finance Commission, Public Trustee 1,262 9 3 Act, 1940 .. .. 113,000 0 0 Clerical assistance .. 900 0 0 Under the Act, section 112 43,000 0 0 Postage and telegrams .. 100 0 0 Under the Act, section 114 5,111 18 3 Office expenses .. 153 1 3 On account of reduction of Travelling-expenses of Board interest during year ended members .. . ■ 94 11 I 31st March, 1940, under Medical fees .. . • 24 3 0 National Expenditure Ad- Audit fees .. .. 50 0 0 justment Act, 1932 .. 5,805 0 0 . 3,241 13 1 — 166,916 18 3 Balance at 31st January, 1941 .. .. 974,884 12 6 Interest — On investments .. .. 41,629 2 0 On contributions in arrears 695 17 10 42,324 19 10 Less investments written down (proportion of premium on purchase of investments) .. 304 6 7 42,020 13 3 £1,346,310 8 5 £1,346,310 8 5 COST-OF-LIVING BONUS ACCOUNT FOR THE YEAR ENDED 31st JANUARY, 1941. Dr. £ s. d. Or. £ s. d. Refund from Consolidated Fund .. .. .. 383 3 7 Balance due from Consolidated Fund, 31st January, Balance due from Consolidated Fund, 31st January, 1940 .. .. .. •• 44 22 1941 .. .. .. .. .. 33 12 0 Payment of bonus .. .. .. • • 372 13 5 £416 15 7 £416 15 7 Balance-sheet as at 31st January, 1941. Liabilities. £ s. d. Assets. Fund as per Revenue Account .. .. 974,884.12 6 Amount held by Public Trustee— £ s. d. £ s. d. Retiring and other allowances due and unpaid .. 989 10 6 Invested .. .. .. 955,824 11 6 Refund of contributions due and unpaid .. 2,880 7 I Uninvested .. .. 8,810 210 Administration expenses unpaid— 964,634 14 ■! Commission Post and Tele- £ s. d. Premium paid on purchase of graph Department .. .. 218 9 0 investments .. .. 2,525 3 4 Clerical assistance .. .. 750 0 0 Less amount written off .. 304 6 7 ... Postage and telegrams 83 6 8 . . n™ o Office expenses, printing, and Amounts paid to protect securities .. .. 202 5 8 stationery .. • • 43 3 0 Contributions of members — Audit fee .. .. .. 41 13 4 In transit .. .. .. 6,055 5 1 — , 1,136 12 0 Due and outstanding— Unclaimed contributions .. .. •• 2,019 15 3 Ordinary contributors .. 3,963 16 11 Amounts paid into fund in error .. .. 16 4 0 By Government on account Rent received from securities leased .. .. 414 16 6 of contributors on leave Reserve— with the forces.. .. 2,503 4 3 o For commission payable to Public > 1 Trustee in respect to interest Interest on investments due or accrued .. .. 416 16 3 Due and outstanding .. 2,528 17 7 For commission to Post and Tele- Accrued, but not due .. 10,973 12 7 ; graph Department in respect to , ' 13,502 10 2 vouchers issued but unpaid 42 12 6 Interest on arrears of contribuFor cost of actuarial examination 32 0 0 tions due and outstanding 491 8 9 (contributors) . . .. .. .. 447 1 9 Reserve for loss on investments .. .. 1,289 17 9 Due by Consolidated Fund for Vouchers issued but unpaid at Ist cost-of-living bonus.. .. .. .. 33 12 0 February, 1941 •• •• 22,284 5 8 Government subsidyLess cash in Post Office Account .. 12,305 10 10 Additional subsidy under sec9,978 14 10 tion 114, Public Service Superannuation Act, 1927, allowances unpaid at 31st January, 1941 .. .. .. .. 538 12 4 £994,101 19 2 £994,101 19 2 Notes —Since the closing of the accounts for the year the Government has given a further subsidy on account of the loss suffered by the reduction of interest under the provisions of the National Expenditure Adjustment Act,_ 1932, during the year to 31st March, 1941 The amount for the period to 31st January, 1941, not included in the year's accounts, is £1,917. The liability under section 9 (2) of the National Expenditure Adjustment Act, 1932, as amended by section 25 of the Finance Act (No. 2), 1932-33, in respect to the rebate to those contributors who did not elect to continue to contribute on the higher rate of salary before the reductions in 1932 has not been taken into account in the foregoing statement. The contingent liability in this respect is estimated at £3,600. A. E. MCKinnon, A.R.A.N.Z., Secretary, Teachers' Superannuation Board. I .hereby certify that the Revenue 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.— Cyril 0. Collins, Controller and Auditor-General.

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