H—4s

CO-OPERATIVE CONTRACTS FUND— continued Balance-sheet as at 31st March, 1949 1947-48. .... I 1947-48. £ Liabilities £ | Assets £ £ 35,678- Cash at Bank of New Zealand : Head Office Accounts Cash at Bank of New Zealand : Head Office accounts 2,238 (overdrawn from National Administration Funi}) • • j Debtors: contracts, &c. .. .. .. .. 284,167 305,608 Profit distributions— Fixed: Stevedoring gear— £ £ 38,724 As per Balance->sheet, 31st £ £ As per Balance-sheet, 31st March, 1948 362 670 March, 1948 .. .. 40,583 Add depreciation to 31st March, 1948 368 275,250 Appropriated for year .. 298,058 Purchases 'during year .. .. 173 293 313,974 338,641 . " .; • " 903 963 273*391 Payments during year .. .. 294,446 Sales during year .. .. .. 180 243 Depreciation for year .. 358 -40,-583 44,195 723' 150,605 Deposits .. .. .. ... .. 121,293 362 3,854 Creditors .. .. .. .. .. 23,472 Reserves— r Depreciation— To 31st March, 1948 .. 368 Depreciation for year .. 40 4OB 35,000 Stevedoring gear purchase, as per Balancesheet, 31st March, 1948 .. .. 35,000 35,408 Accumulated funds— 35,435 As per Balance-sheet, 31st March, 1948 . . 40,250 4,815 Balance brought in for year> .. .. 22,510 40,250 62,760 £305,970 £287,128 j £287,128 £305,970 A. E. Bockett, General Manager. A. G. Davidson, F.R.A.N.Z., Secretary - Chief Accountant. I hereby certify that the Revenue Account and the Balance-sheet relating to the Co-operative Contracts Fund have been duly examined and compared with the books and supporting documents, and correctly state the position as disclosed thereby. The audit of the records of disbursements through the central pay offices was carried out by auditors appointed for the purpose by the Audit Office in terms of Regulation 15 (5) of the Waterfront Industry Emergency Regulations 1946.— J. P. Rutherford, Controller and Auditor-General.

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