B.—l [PT. IV], SUP. TO 1941.

LAND FOR SETTLEMENTS ACCOUNT —continued. Balance-sheet as at 31st March, 1941 —continued. Liabilities. Assets. Brought forward .. .. .. £15,748,220 Brought forward .. .. .. £14,323,595 Land Development—continued. £ Estates —continued. £ £ Rents and interest charged in advance.. .. 1,509 Postponements— Payments in advance : Rents and instalments .. 3,474 Principal instalments .. 253 Free capital for development— Rent and interest .. .. .. 19,603 Employment Promotion Fund .. .. 23,346 19,856 Consolidated Fund .. .. 14,306 Cash in Deposit Account of Receiver of Accrued interest on capital expenditure .. 86,401 Land Revenue, Auckland .. .. .. 12 Suspense Account .. .. •• 187 Interest accrued but not due .. .. 5,677 Reserve in respect of deposits held by dairy companies 12 Land- Land-development. Sundry creditors — Leased .. .. .. .. Departmental .. .. •• •• 4,282 Unleased .. .. .. 8,771 Miscellaneous .. •• •• 2,105 131,025 Sales debtors — Detebioeated Land Act, 1925. Buildings .. .. .. 1,138 Payments in advance: Interest, &c. .. .. 11 Land .. .. .. .. 16,963 Suspense Account .. .. •• 167 1 > Mortgage outstandings (not yet payable) — Land Act, 1924, Section 20. Crown landsPrincipal instalments paid in advance: Sales of Current Account .. .. 110,504 Crown land .. .. •• 5i2 Instalment mortgage .. .. 79,440 Sundry creditors: Departmental .. .. 100 Settlement lands— Current Account .. .. 24,405 Instalment mortgage .. .. 14,922 Expenditure on development of Crown 229,271 and settlement lands — Crown lands .. .. .. 52,595 Settlement lands .. .. .. 24.0,067 Sundry debtors for— 292,662 Principal instalments — Mortgages .. .. .. 292 Buildings .. .. .. 10 Sales of land .. .. .. 6 Interest— Mortgages .. .. .. 6,682 Buildings .. .. .. 20 Sales of land .. .. .. 86 Rents .. .. .. . • 1,800 Water levies .. .. .. 94 Sundry debtors— Departmental .. .. .. 654 Miscellaneous .. .. ~ 13 Postponements— — 9,657 Principal instalments .. .. 17 Rents and interest .. .. 464 481 Realization Account .. .. 6,437 Deposits held by dairy companies .. .. 46 Expenditure from Employment Promotion Fund 23,346 Expenditure from Consolidated Fund .. .. 14,306 Interest on development expenditure .. .. 86,401 Interest accrued but not due .. .. 1,295 Detebioeated Lands Act, 1925. Mortgage outstandings— Current Account .. .. .. 1,032 Instalment mortgages .. .. 4,068 Debtors for— 5,100 Principal instalments .. .. 26 Interest .. .. .. • • 110 Departmental .. .. • • 191 327 Realization Account .. .. • • 62 Interest accrued but not due .. .. 30 Land Act, 1924, Section 20. Principal outstanding on deferred-pay-ment sales : Crown Land — Not yet payable— Sales of land .. .. .. 635,901 Sales of buildings .. .. 49,009 Principal instalments — Sales of land .. .. ■. 7,750 Sales of buildings .. .. 1,030 Postponed principal instalments .. 141 Otamakapua Block : Remaining value of lease .. .. • ■ ■ • 1,766 Orakei Block (see subsidiary accounts attached to Crown Land Account .. 15,696 Departmental .. .. • • 2,652 1 ——— 713,945 £15,884,632 £15,884,632

R. G. Macmoekan, Under-Secretary for Lands. G. I. Beeson, Chief Accountant.

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 explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return B. l [Pt. IV] and to the following comment: The Cheviot Estate accounts do not include a credit for interest on assets comprising cash and certain securities held by the estate at Ist April, 1930, nor a debit in respect of interest thereon paid to the Consolidated Fund in terms of section 19 of the Finance Act, 1930 (No. 2). These entries have been passed through the Land for Settlements Account (General) only, Cyril G. Collins, Controller and Auditor-General.

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