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RURAL INTERMEDIATE CREDIT BOARD Profit and Loss Account for the Year ended 30th June, 1946 Dr. £ Gr. £ Management expenses .. .. 2,266 Interest on advances to associations .. 2,873 Travelling-expenses .. .. .. 2 Interest on advances to farmers .. 3,959 District board members' fees .. .. 3 Discount on bills discounted .. .. 7 General expenses .. .. .. 19 Interest on Government securities .. 3,205 Audit fees .. .. .. .. 85 Sundries .. .. .. .. 56 Interest paid to Treasury .. .. 12,000 Transfer from Redemption Fund income 4,275 £14,375 £14,375 Balance-sheet as at 30th June, 1946 Liabilities £ £ Assets £ Establishment grant from Con- Investments of the Rural Intermediate solidated Fund.. .. 10,000 Credit Redemption Fund and preLess expenditure to date .. 7,765 miums on conversion : Government 2,235 securities at cost and interest accrued 266,460 Advances from Consolidated Fund for Advances to associations for preliminary preliminary expenses of associations.. 850 expenses .. .. .. 25 Advances from Consolidated Fund under £ section 16 .. .. .. 400,000 Advances to associations .. 63,598 Rural Intermediate Credit Redemption Less reserve .. .. 248 Fund : Accumulated interest on in- 63,350 vestments and share of profits .. 132,104 Advances to farmers .. 96,171 Rural Intermediate-Credit Reserve .. 20,246 Less reserve .. .. 952 Reserve (premiums on conversion of 95,219 Redemption Fund investments) .. 1,137 Bills discounted .. .. 187 Sundry creditors .. .. .. 7,893 Less rebate of interest .. 5 lB2 Overdue interest on advances .. 13 Accrued interest on advances .. 1,482 Sundry debtors .. .. .. 5,505 Government securities and accrued interest .. .. .. 93,971 Cash at bank and in transit .. .. 38,258 £564,465 £564,465 A. D. Park, F.1.A.N.Z., F.R.A.N.Z. \,. , „ . TV . T. N. Smallwood / Jomt Sectors. W. Gr. Dent, 8.C0m., A.R.A.N.Z., for Chief Accountant. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—J. P. Rutherford, Controller and Auditor-General.

Approximate Cost of Paper.—Preparation, not given ; printing (770 copies), £6

By Authority: E. V. Paul, Government Printer, Wellington. —1946. Price 3d.]

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