D—s

Balance-sheet as at 31st March, 1948 Liabilities £ j Assets Accumulated funds, as per Revenue Account .. .. 557,674 j Investment Account— £ £ Casual employees' contingent contributions .. .. 5,296 | Investments : Government stock and mortgages .. 518,118 Retiring and other allowances due (not paid)— Cash in transit . . .. .. .. 742 Members .. .. .. .. .. .. 566 J 518,860 Widows and children .. .. .. .. . . 761 I Current Account— Refund of contributions authorized (not paid) .. .. 3,388 | Cash in hand .. .. .. .. 2,572 Withdrawal of contributions authorized (not paid) .. .. 473 j Contributions in transit .. .. .. . . 7,890 Refund of contributions in excess of allowances drawn by Contributions due by Navy, and Air Force Departments .. 173 deceased beneficiaries (not paid) .. .. .. 183 Contributions outstanding .. .. .. .. 2,194 Interest paid in advance .. .. .. .. 12 Contributions due by members in respect of casual service . . 17,958 Public Trustee .. .. .. .. .. 224 Working Railways— Reserve for bad and doubtful debts .. .. .. 3,000 On account of increased allowance to annuitants as provided Rebates of contributions (National Expenditure Adjustment for by section 31, Superannuation Amendment Act, 1945 376 Act, 1932) .. .. .. .. .. .. 63 On account of cost-of-living bonus .. .. .. 11,077 Sundry creditors .. .. .. .. .. 402 On account of additional allowances to widows and children (section 114, Government Railways Act, 1926, and sections 28 and 29, Superannuation Amendment Act, 1945) .. 4,798 Interest due (including amount in transit). . .. .. 1,698 Interest accrued but not due .. .. .. .. 4,342 Sundry debtors .. .. .. .. . • 104 £572,042 £572,042 ' R. Semple, F. H. McAuley, A.R.A.N.Z. Chairman of the Government Railways Chief Accountant, New Zealand Railways. Superannuation Fund 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.— J. P. Rutherford, Controller and Auditor-General. Approximate Cost of Paper.—Preparation, not given ; printing (1,063 copies), £25. By Authority: E. V. Paul, Government Printer, Wellington.— 1948. Price 6c?.]

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